$1K is not bad at all Steve. I was down a few hundred this morning, then traded a little over lunch and ended up a few hundred.steveny said:
-awais
Stock Market
- Thread starter NemesisX
- Start date
-awais
Time to open that Futures accountdgp said:
-awais
O-Ace said:Time to open that Futures account
-awais
Even if the Dow won't change much over 10K, the increased volatility will give plenty of opportunities ahead to make above-average returns.
For the futures account, I'm still researching it, however it's hard to make the switch from investing to trading mostly because my investing has been treating me really well for the last couple of years (beat the avg indexes/benchmarks by quite a bit). If i do decide to trade index futures it will be part time, and then there could be potential concerns about tax trader status qualification as well as other things. Trading is totally different than investing, you're spending most of the time trading as opposed to investing where ~95% of the time is spend on research.
O-Ace- good luck with futures trading, hope your results will be as good as Psycnosis' after a few years. Just remember that it's a tough business and majority of the participants lose money after taking into account for transaction costs. You have to one of the best or in that elite if you want to make consistent above average returns.
If you are making money with stocks why change? Funny thing I know a lot of people that have a good system and they get tired of making money, it's too easy, then they change and lose, then they go back to the old system make money, change and lose again. Over and over and over.
dgp said:Even if the Dow won't change much over 10K, the increased volatility will give plenty of opportunities ahead to make above-average returns.
For the futures account, I'm still researching it, however it's hard to make the switch from investing to trading mostly because my investing has been treating me really well for the last couple of years (beat the avg indexes/benchmarks by quite a bit). If i do decide to trade index futures it will be part time, and then there could be potential concerns about tax trader status qualification as well as other things. Trading is totally different than investing, you're spending most of the time trading as opposed to investing where ~95% of the time is spend on research.
O-Ace- good luck with futures trading, hope your results will be as good as Psycnosis' after a few years. Just remember that it's a tough business and majority of the participants lose money after taking into account for transaction costs. You have to one of the best or in that elite if you want to make consistent above average returns.
Psycnosis said:If you are making money with stocks why change? Funny thing I know a lot of people that have a good system and they get tired of making money, it's too easy, then they change and lose, then they go back to the old system make money, change and lose again. Over and over and over.
Anybody from this board?
what are futures, and what do I need to know as a novice? I'm 30 no wife no kids , a 2000 nsx (I'm the december wallpaper) and a decent job. Is this something I shoud take the necessary time to learn. All you guys make it sound possible to make a few bucks and learn something to pass on. I've invested before butnotlike you guys. Just real estate flips and such. Realy want to learn but understand it'll take time. I stillhave a lot of time left. Still need a beginner book to read to get the terminolgy down. Any advice?
dgp said:Anybody from this board?
Sure, do it all the time. I make a ton of money trading one way then lose it learning a new way to trade. I do however trade a few accounts with methods that I know work. I only risk money that I know I could live without.
dgp said:
DGP, I would say that 95% of my trading is researching, my trading is very similar to my investing philosophy, matter of fact the only difference is the time frame. But I apply my philosophy to my IRA, Stocks, bonds and futures accounts. I have targets for getting in and getting out with stops in place. When I was younger in the markets, I did trade like a daytrader but now its a much different approach.
Ko-nsx said:
Futures started with the ability to guarantee a "future" crop at a set time in the future...(long story). This helped guarantee delivery for manufacturers and piece of mind for farmers. If you want to learn, it can take years. REMEMBER that on forums, people's ego or bravado usually have them overstating or falsifying results. Usually people only talk about wins and not losses, but they do have them (not saying it happens on THIS forum). This can give a false sense of trading prosperity.
As far as books, just go to any bookstore and search futures and that should get you started, most are the same in terms of beginning information.
Hope it helps!
NowSeeX's said:
Thanks for the honest advice
Saddam captured...market's gonna be a little wild on Monday 
-awais
-awais
Psycnosis said:Yep, and watch the shorts crap there pants. This is where the shorts that had a "Trade" it becomes a investment.
If I were short, I would be covering first thing tomorrow morning. Take the loss and get on with it. I am very happy that I am not short, but I might add to put postions if things get out of hand tomorrow.
Well in Pro the S+P is up over 10, I think the EUR market will go up as well. Short covering will drive it up even more. I say Dow will close at 10245ish. Lets see if I am right. Again be careful it's a news market and one I don't like to play in.
steveny said:
im LONG 1069!!!!
Yep, same here. This might be a good time to buy some cheap Puts though.Psycnosis said:
-awais
Nice! 20 pts on big S&P...not bad at all!NowSeeX's said:im LONG 1069!!!!
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