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Currencies were tamer then I thought. I'm long GBP/JPY and had bids and offers out trying to catch some wicks and didn't get crap.

I would have to "manually" do the levels King, but you know what, I bet the levels work with bitcoin too. Does anyone know if all the price data is archived somewhere?

Yeah I'm trying to find every configuration possible to be short the Aussie.

Also, looking at adding AUD/NZD to the FX mix.

GBP/JPY is a roman candle.

Are these the models with "edge" you were talking about? :)

Sure...don't.

Well, Timmy pushes a broker called Suretrader based in the Bahamas that gets around the PDT rule. There is no PDT rule there as it's not US based but I think the account minimum is 2k. So there's that.... Edit: $500 account minimum for a margin account.

TJ, I'm trying to get CNN to do a story on your latest journal but we are waiting on your mom for permission.

Well, for starters, most brokers actually USE these bucketshops. If you read in their disclosure documents, they don't clear cash FX. They outsource to a 3rd party which is a firm like Oanda or FXCM or Gain, etc. To be fair, I don't think there is much difference between any of them. Oanda...

So let's use a default example here. If I sell a spread that is 20 pts wide for a dollar, I should have greater margin then if I sell that spread 20 pts wide for 5. The reason the margin is less is because you are taking in a bigger credit. The max I can lose on my second spread is 15 pts and...

It can't do both. What is the example you gave above? You show three different positions. Are you showing that you are "adding" to an existing position or are you simply showing each position in isolation but closer to the money?

There are plenty of scumbags in this business. It's a legit article on CNN. I never saw the Reuters piece. I actually found the article on another forum. Whether or not Tim is a scumbag should not determine whether it should be posted. Hell, I would never post crap from Paul Krugman if that...

As you move closer to the money, the margin is going to increase. If you rolled further out it would decrease.

I will add, that I think when I see the number of guys trying to make a living tick f*cking the ES, they probably would be better off trading penny stocks. The ES is probably THE most efficient market in the world and penny stocks are probably THE most inefficient market in the world.

On a side note, when I first started in the 90's, I knew more penny stock millionaires then any other type of trader. Penny stocks actually were correlated with the S&P 500 so you could essentially trade the index with monster beta. Of course they made all their money on the long side. I'm...

The story is true but it's mostly due to variance. Take the avg variance of any penny stock trader in the world, put thousands in a room and you will produce a dozen Tim Sykes or this guy. Of course that makes the story less interesting for the avg reader.

It must be a slow news week at CNN. LOL.

http://money.cnn.com/2013/12/16/investing/penny-stock-trader-millionaire/index.html