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Here's the worrisome part about this bill though. Someone will explain what a mess this will cause and the light bulb will come on and they will get the customary reponse of, "Oh." A second or two after that it will get followed up with, "Well, why don't we just tax them bastards a flat fee...

Exactly! Perhaps someone should call Washington and tell them what a wonderful plan this would be while I call an Asian Broker to open my account. LOL. What a super idea! "New York would be vacated." Ain't that the truth. What a death blow to America this would be.

I suspect it wouldn't apply to futures but you can't under estimate the stupidity of Washington. If this were attached to the bill the market would cease to exist. It will never fly. Let's do a little math. 1000 shares of AAPL at today's close is $263,860 (both ways) of stock value * .0025...

gnome, I agree with you in one sense but I don't think this is part of a "master plan." What you are witnessing is chronic incompetence that is inherent to all governmental bodies. In the long run, Governments simply cannot act in the best interests of the people. It's surprising this...

I was in a similar situation to you a number of years ago and I began tasting the success of trading. I began getting good and came very close to quitting school. It would have been the worst mistake of my life. Not only did I not quit undergrad, I went on to get my MBA and traded the whole...

Cutten, you bring up a very interesting point. It wasn't long ago that someone criticized me for doing the administration of my own fund rather than doing it the "Wall Street Way," and suggesting it is guys like me who give the business a bad name. I'm still generating positive returns while...

It will definitely increase volatility. Wait til some good news comes out and we get to fade the futures. The rallies will go much farther because no shorting into it and the declines will go much deeper because no short covering into it. This is a futures trader's dream come true :cool:

He is making it up but restrictions on Oil futures is coming next. Margin requirements are going to increase dramatically and contracts limits will be tightened. Anyone breaking these new rules is sure to be "persecuted." :D

Drinks are on you tonight. Nice trading!

The same thing happened in 1932. The market went much lower. You might want to consider opening a futures account if you don't already have one. You may have to blow this pic up if it's hard to read.

LOL. On a serious note, I think you should focus on trading 1 contract and doing about $500 per week for a full year. If you can achieve that goal then you have roughly $2000 per month, or 24k by the end of the year. Take 4k out to pay your taxes and increase your goal to 4000 per month by...

When I first started trading the ES I had the same kind of logic. 5k to 10k, then to 20k, then to 40k, and it worked for a while. Then it stopped working and I decided to take a different route that went something along the lines of, "The slower you go the faster you'll get there."

I'll support it if you go first :D

Port1385, TraderZones -- DOH! Same person so that's just one.

I'm not 100% sure of this -- I just trade the darn things -- but if they banned short selling on futures wouldn't the open interest trend to zero? For example, you buy a contract and later sell it to another buyer -- open interest stays the same. All that happened is the contract changes...

It's definitely coming and it will probably happen shortly after they remove the short ban and then the media and government will blame it all on short sellers, like having toxic waste on your balance sheet caused none of it.

thanks

best I could find http://online.wsj.com/public/resources/documents/info-flash08.html?project=CRASH87

Link didn't work...

Exactly right but just how temporary will it be? A day, a week, a month? This is the biggest issue. Governments tend to over do things. They cut rates to aggressively, which leads to bubbles and unsustainable growth. A ban on short selling is not a bad thing as long as it is very short...