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I'll probably be bashed for this, but I think part of it is that some people view the whole Madoff scandal as one perpetrated by a jew against other jews. Joe plummer is probably thinking "greedy bastards got what they deserved". Of course it's not right, but it's knda like the apathy you might...

Yeah ... in the 1st post the L5 was 10 (10%). How did we get into the thousands (with 4 digits after comma) immediately after that? Edit: Also is the stop always .07, or 7%?

In the section of that U.N. document where it talks about the causes of the economic crisis, nowhere does it mention short-term trading of equities, futures, options ... etc - anything on Wallstreet that the public has access to. I didn't read the whole thing, but where does the document...

So true ... that means making sure you have ENOUGH of it as well as not too much (the former being something I often find myself at fault for).

lol I just replied ... took me awhile - sorry.

Cool ... I'm guessing we might have been at Berklee around the same time ('78-'81 -ish? ). I was lucky enough to squeeze in with Stern just before he left Boston to go record/tour with Miles. I used to love watching him play around town at places like Michael's and Pooh's Pub with Tiger Okoshi...

I agree with all the comments about averaging down ... very risky, and very strict controls required in order to do it and survive, whether you're retail or pro. I have seen edges that involve a moderate amount of scaling though, with stops. But in general, few of us can (or wish to) survive...

There you go. Thanks for the explanation AAA.

Awesome ND ... I used to love that guy's playing. I myself studied with Mike Stern (don't know if you'd know who that is) back in my days in Boston. Nice thread by the way.

If you cap his intraday loss at 10% he will not continue to be able to make 10% a day on most days. Live by the sword ...

I don't know all the details, but alot of folks have been saying USO is a poor way to play crude ... something about contango and yes, I believe expenses as well. Have a look at their charts and compare.

I know nobody else here uses IB's charts, but one little issue that just cropped up is that the bar that was last touched by the mouse stays highlighted indefinitely (no double-click, no right-click needed), or until you touch another bar. Not a big deal - just a little annoying.

Futures: CL (big) QM (mini) ETFs: (poor choice for investing) USO DXO Stocks: XOM, COP, BP, MRO ... etc. There's a whole ET section on Energy futures ... you may want to start there.

Re: #4, my CME source tells me many of the huge traders average down all the time ... however they have deep deep pockets, which makes all the difference.

Inattention to order defaults ... This is a bonehead mistake I made today causing my stop to be $1 away from where I really wanted it. (Happened because I don't usually trade stocks and didn't pay close attention when entering my stop.) Another one - messing around on E.T. (or elsewhere)...

I like the cheapies when the strategy involves significant scaling. (Sorry for the extremely delayed response).

I have a few stock strategies based on ranges and probabilities that work ok when executed "to the letter", but I'm starting to see the value of 'cheating' them based on more dynamic factors. So I think ultimately you always have to have SOME hard and fast rules (especially stops), but I...

Guys, old news, old discussion. The date on that article is Feb. 25th. http://www.elitetrader.com/vb/showthread.php?s=&threadid=150546&highlight=transaction+tax

I would not count on a system that DOESN'T move through your limit even with one car, let alone 10 or 20.

"T" party should start soon, if at all.