Search results

I too am continuing to daytrade, although I was one who preferred to trade smaller share lots for bigger point swings. Now that those daily ranges have compressed (for the time being), I daytrade a bit less and have been doing more multiday swing trades (mostly on the short side). If you're...

Merkur, You are correct. I for one mistyped the ratio of trades to days. The corrected comment should be as you stated, namely that you could do 3 daytrades in 5 days and avoid the daytrader distinction. Regarding the suggestion that one could be slapped with the "daytrader" status by...

That is the threat that is most onerous, and one that remains to be seen whether we can avert this time around. Historically, in the U.S. rate cuts work in reviving the economy and the stock markets. However, we are collectively sitting on more debt than at any point in history, and if that...

Zdex, As I read the rule proposal, it applies only to margin requirements with regard to daytraders, since presumably "investors" could still use margin with less than $25K equity. Therefore, you could still get a margin enabled account and daytrade all you want, provided you don't use any...

Well, bad news. I just researched the SEC and NASD sites, and found that this rule was actually proposed last year by the NASD, and has been approved by the SEC. I just pored through a whole bunch of letters to the SEC by traders in response to the rule proposal dating back to early last year...

That's the million (or multi-million) dollar question. As long as the majority of investors and traders sit on the sidelines in a "buyers' strike" so to speak, stocks will continue to slide gradually down until buyers are willing to step up. Also remember that while the NASDAQ has taken a...

I also urge all traders to write your congressmen and complain about this further move to hit traders. How insidious that the SEC couches it in the "protecting traders" BS. However, as I read the article, this will apply only to daytraders, as the almighty SEC defines us: "The rule defines...

kempo, What I'm looking at with the futures with regard to the BPs is whether it looks like the cash markets will follow the direction of the futures, therefore confirming what type of position I should take as a stock approaches or is at one of its BPs. For instance, let's say a stock has a...

Trapper, I use TP's basic BP1 and BP2 levels as key daily support/resistance levels to watch. The only other indicators I use are the S&P and NAZ futures to gauge short term market direction, and to help confirm a potential long or short position. These days I also am more liberal with my...

Hi Dan, The Hitachi Rasterops monitors I bought on ebay were refurbished, meaning that they had either been used or otherwise non-new, and were tuned up and brought up to factory-new specifications either by the manufacturer or a qualified refurbishing outfit. I've been using my refurbished...

Limbo, It's definitely a different atmosphere right now in the market, and certain strategies that work in particular market conditions can be ineffective in others. There is much whipsawing around, although the overall direction of things has been (and may still be) down. Being a swing...

Well, there are a lot of questions there, but I'll try to answer some of them. First, the advantage the market makers have over individuals is first that they have the kind of money and volume to control the direction of a stock. The second is that they can camoflauge their trading by using...

Welcome to the forum! I'll try to answer some of your questions, and I'm sure some of the other members can help as well. First, regarding insurance, I assume you're talking about health insurance? If so, and you are a full time trader without any other job, you would have to find an...

To follow up on white's point, I absolutely agree regarding Greenspan. In fact, I think he should be ridden out of town on a rail. As a trader, I take what the markets give me, but what about all the people about to retire whose IRA's or retirement funds have been cut in half and will have to...

I believe that there is a good chance of another intermeeting cut. Greenspan must know by now that he single handedly murdered a perfectly humming economy in one of the most insidious policies ever seen, and must take drastic actions to make up for the slew of unnecessary rate hikes from last...

AA, Thanks for the heads up. I'll keep a lookout for it.

LOL!!!!

You should be paying professional fees only if you're a professional, i.e. someone working for a brokerage. If you're just an individual trader not working for a firm, you shouldn't have to pay professional fees (even if you trade for a living and it is your profession).

rtharp, While I agree that it is optimal to have the best connection that is feasible, and the use of an analog 56K modem should be considered substandard as a rule, I must disagree with the assessment that you need a T-4, microwave, etc. connection to be successful. As I mentioned in my...

Just to put things into perspective, for a while in the early days of my trading I was unable to get DSL or cable modem service in my area, and was forced to use a 56K analog modem for my trading. I was trading and receiving data through Realtick, with up to 4 Level II windows open with time...