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I'm not a daytrader so I can't say if it is good or not. Make sure you factor in your transaction costs. I created a table in Excel to show different win/loss rates and the associated profit factor. I also attached a chart of the same table. The line in the chart represents the breakeven...

You are correct.

Do any of these programs handle futures?

Did I read the chat log correctly that Aaron is using the free Quote.com data feed? Isn't the free data feed delayed by at least 10 minutes?

I would not recommend stops on options. A wide bid/ask spread will cause pain on a stop. If you had a stop at 1.20 and the current quote is 1.00 x 1.20 and a transaction takes place at 1.20, you will be taken out at 1.00. You could put a stop limit order in place. In general, if I have a...

Note that some options are considered 1256 contracts and need to be reported on form 6871. An example would be SPX or OEX options. The advantage is that you will receive favorable 60/40 tax treatment. Also be aware that 1256 contracts are marked to market at the end of the year. The...

Thanks for the replies. Hardrock375: I'm not sure who Beck is? Jocke: I acutally followed the Toad some time back. At that time he would hold positions that went against him overnight or for a few days. In several cases it helped him, but I normally don't hold a simple call or put...

Are there any successful OEX traders out there or am I just kidding myself. It seems I take 2 steps forward and 1 step back. I am a discretionary trader and those huge OEX bid/ask spreads can be a wonderful thing when the market moves in your direction but the reverse is also true. The...

Yes he still answers his email in a friendly fashion and provides constructive comments. I am a subscriber to Real Money because of the variety of those who write columns. Over the years I have written to several of the writers and I have always received timely replys.

I've had a good year but today was a bad day. I trade OEX options and the spread just ate me up today as I poorly managed a trade. On bad days I always end up asking myself if my past success was due to ability or just plain luck.

I trade index options. The spreads can be quite large. Limit orders are the only way to go in that environment.

When I first started trading I would stop for the day after my profit target (or stop loss) was hit. If my profit target was hit I would have some confidence going into the next trading day. If my stop loss was hit I would call it a day and not try to "get back at the market" in order to...

"In the long history of the world, only a few generations have been granted the role of defending freedom in its hour of maximum danger. I do not shrink from this responsibility--I welcome it. I do not believe that any of us would exchange places with any other people or any other generation...

Has anyone attended the yearly Options Trading Forum in Chicago? Any opinions, good or bad?

You might want to look at a program called "Ramp". It scans for stocks touching trend lines. It uses end of day data but I'm not sure if it would display results on intra day chart. <www.nebadawn.com>

Wash sales apply during any +/-30 day period, not just year end. Most full time traders elect "mark to market" status which avoids wash sale issues. Check out this link for more info: http://www.greencompany.com/washsalelosses.htm

In a recent reply you stated that your performance has improved since you revamped your trading 4 years ago. What direction were you headed 4 years ago and what changes have you made since?

I have made money subscribing to "RealMoney". Arne Alsin is good at picking value type stocks for the long term. I have used several of his picks for my IRA and have been very happy with the results. Herb Greenberg has been useful as a source for potential shorts. Bill Fleckenstein writes a...

Seanote, Today you shifted from swing trader mode to daytrader mode in an effort to recover from the PALM trade. In the past when I have had a rather stinging loss and tried to "make up" for it, I usually made things worse. When I had a big loss it is usually because I didn't follow my own...

I had a system built by Envision Computer Systems. Their web page is: http://www.envisioncs.net/ You will be able to select all components: motherboard, video card, hard drives, cd drives, case, etc. They will assemble and test your system. I had used Dell in the past and was always...