Recent content by fk1028

Marksmanll... You chance of successful is practically zero. You can make about $50 a month in a safe manner. That is not worth your time. Get back on your day job and look for opportunities.

Do not try to make money, just make sure you do not lose them. There is a big difference.

Do not forget to file you gain/loss (especially gains) using form 6781. The gains will be taxed at 60% long and 40% short for broad based index trades. I traded SPX only so this tax feature saved me a lot of money.

Loss $650,000 in one day week of Aug 8, 2011. Covered my naked SPX $10 option in which the next day became $0.30. The panic move is because of lack of experience. I was frozen for 3 days and then decided lightening never strikes twice. Get back on the horse and kept going. Took me 8 months to...

There is only ONE rule - the $$ you allocate in that MUST BE disposable $$. Assume you lose it all (a good chance you will) and it won't hurt you a lot.

The details is not clear. Placing a couple of trades on Friday will review whether this new SPXJ is useful. The Commission is less because of the pass thru rate. But the one that matters are the trade volume and the strike price increment. Looks like it'll be 0.01 instead 0.05. This would create...

Look at this link -http://www.tradersmagazine.com/news/box-gets-ok-to-trade-jumbo-etfs-111176-1.html Jumbo SPX will start trading this Friday. What is the advantages and disadvantages of trading SPX and SPXJ? The one advantage is the pass thru rate of the commission is much less for SPXJ...

So, you must think trading under an LLC (single member) will protect you from the liability.

What is the reason you want to setup LLC while trading for yourself? You try to protect your (loss) liability? Do you trade a lot of uncovered options?

I think the party is over at the time you can click a mouse button sitting comfortably at home and make a trade.

>....is this is a fool's game? Yes, it is definitely a fool's game. I have gone thru what you described (and a lot more) and I can give you the following advise - * You think there is a 'mentor' out there that can make $$ for you - you are wrong. If the 'mentor' knows how to can make $$...

Their commission is good, chat line support is good, accounting is OK. Their computer trading tool is not the best. In some area it is dangerous like stop loss orders. They store them on your PC instead of their server. So, if you are not log on, your stop loss order is not effective. Fk

Bob, if a trading company uses Penson to clear, they do not have their own software/system to clear internally like OX. Correct? So, you cannot have a real time margin calculator. Frank