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+1. saying you want to trade w/o the possibility of losing more than 10% is like saying you want to learn how to swim w/ the possibility of getting wet.

ETF's are NOT 1256 cars. Unless you have a deep burning desire to meet w/ your favorite uncle - you know uncle sam and the irs - don't try to claim this.

are you rec'ing all three trades at once or giving options (pun intended)? when i read this my first thought was "so he's putting on a a texas hedge - i'm glad to know there's another trader out there like me:cool: "

to the op, i was in your EXACT same positions years ago. i didn't last long (less than a year) b/c i realized being a FA has NOTHING to do w/ trading and everything to do w/ selling which i don't want to do. my advice is to find a job where you can learn the trading side of the business but...

while it's true the IRS has no specific guidance re 1256 cars, i strongly suggest seeing a tax attorney and/or erring on the side of caution and either only claiming INDICES as 1256 for tax purposes or NOT claiming ETFs at 1256. see the below list...

hearing about people blowing up is actually a good thing b/c it's a constant reminder of what can happen when you deviate from your plan. when you look around and see people only winning like right before the bubble burst in 2000/2007 that's when you get into trouble.

i'm the same way but when it comes to trading i'm a tf'er b/c i learned the hard way that fading strength/weakness was a lot harder than just following the trend. but to each his own. if you can fade and manage risk more power to you.

this works for small and large traders like at banks (well not anymore after volcker) and hf's. paulson, burry, cornwall capital, lippmann at db all saw what everyone else was doing and said they're crazy and these people at every one of the edges listed in the op's post.

what he trading index futs? if not what product? just curious as to the how i don't care who it was or the amount involved.

+1. stocks def have higher atr's than the indices. you can screen for them by looking for stocks w/ a weekly atr above 10% of stock price for instance. another idea for those wanting to take a flyer on options is to buy options AFTER an earnings announcement during expiry week. jeff augen...

not to start an internet fight on a sat morning but how are you getting better fills on a stock vs the spy's or qqq's?

IIRC, iceland stuck it to the brits who had accounts there and it was the brit gov that made them whole.

IIRC, anyone who owns or leases a seat is subject to FICA taxes. this alone prevents many traders from doing this. sure you can save some money on each RT but then the gubmit takes it.

maybe we can ask brian hunter...

a few thoughts... turn off CNBC. your trading will NOT be improved by watching porn stars read a teleprompter. have a trading plan written down and stick to it. obviously first you need to develop one that suits your personality (e.g. don't day trade if you can't make quick decisions or...

+1. as usual atticus is dead on. it doesn't matter if in theory something should work if in reality it can't work. this is prob a bad analogy but "the sun is going to blow up but you can't short the earth". and believe me i would be the first one trying to do this if i could but i don't know who...

all great points made re not placing orders to BUY otm options during a crash. this however doesn't apply to SELL orders. say you hold otm puts on xyz and put in a gtc limit sell order for 5x what you paid for them. if you're not near the comp when the mkt crashes you'll have a higher chance of...

for commentary try platts. they're specialists in the energy mkts although not cheap. not sure how much free resources are on their site but check them out anyways. http://www.platts.com/Commodity/NaturalGas re the spreads coming down, i have no idea why they're coming down and neither...

that's why we should just focus on price. btw the reserve est reduction initially came out last fall.