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Who told you this? (I'm hearing something different) My broker is telling me that the only time day trading rules would apply would be to new trades that are not hedged. Nothing about freezing accounts - simply if unhedged then 25% requirement - everything else that is hedged in the account...

thanks arl, From this gamma scalping may be okay as long as you don't increase risk.......but if you end up missing one side of your intended "hedge" position - you really can't unwind the traded side without it being considered a day trade. from the CBOE circular the wording is a...

This is potentially an issue. Say, you are trying to buy an equity vs selling some calls. And you buy the equity first but miss the calls - so you simply turn around and sell the equity - that would appear as a day trade. The rule allows you to liquidate equity if it was part of a hedge but...

I know there are a few guys who are very exicted about this BUT one thing people are forgetting to tell you is that Day Trading rules may still apply for customer accounts < $5 million. In fact they WILL still apply to some degree. Thus that $3,000 requirement in the example above may in fact...

great news!

I'm glad I was able to amuse you. I've been able to make a very comfortable living (averaging 7 figures a year) in the last 7 years mainly because of people just like you (about 99% of day trading types) that believe the best way to make $$$ is via taking risk - ie getting rich quick. I've...

not a prop guy - retail (IB).

my longest losing streak: over the last seven years is one day. It has happened about 20 times. At least half of those days were the result of an extraordinary event. There was a time when I didn't have a losing day for about 15 months.

No busts - later I went over to EMM and did the same thing(another adjustment) - the guy on the other side started to liquidate (LOL) at the end of the day at another decent loss. Most of those who read this post probably didn't think much of it - but you could have made size (no risk). A...

If the market makers are on the losing side - then yes - probably. But not very likely if non market makers attempt to bust. It is my guess that the market makers are actually on the winning side (as the dopes were trading against their numbers) thus I'm betting they won't be busted. Also...

It appears the party is over. Expensive Lunch for a "so called expert." waiting for the next victim..........

Check out the DSC options - and today's contract adjustment. It appears that someone with an automated program doesn't know about the adjustment. LOL Someone will wake up with one heck of a surprise come Monday morning.........

Confused, Why sell a system that can generate those type of "expected" returns? Take $20 K and double it every 6 months 6 months you will be worth $40 K Year 1 - $80 K 1.5 years - $160 K Year 2 - $320 K 2.5 years - $640 K Year 3 - $1.28 Mil etc etc Forex markets could easily...

Generally, the erroneous trade rules apply to market makers only. I think it would be very difficult for any customer to get options busted. However, you may have a case if you "traded through" the market (paid a higher price at one Exchange while the option was offered lower at another). But...

yep. Knucklehead am I.

acdspit, I'm sorry for what has happened. One word of caution to anyone is the above mentioned statement indicates that he can turn your $5 K account into $55 K in one year (on average) a whopping 1000% return. When anyone says something like this to you - you better run the other way...

I had not heard that - can you provide a link? If it happens then your $5 calls would become $50 calls with a $10 multiplier.

I'm not sure how successful this will initially be as the penny quote is NOT broadcast to OPRA - thus only IB customers will see it and - there are not many (if any) who have access to the entire IB quote feed. Yes, I know that you can look at the penny options individually - but obviously too...

If you are bidding .87 - your order will actually be at an Exchange bidding .85 (not necessarily the ISE/BOX). If you change your bid to .88 then no price change is required at the Exchange (still .85 bid). However if you bid .91 - then your order at one of the Exchanges would go up to .90...

arl, I understand what you mean. I use hot keys to change the price - and they are now automatically set for for the minimum tick (pennies) so to increase the price by .10 (say to lift the offer) - I actually have to hit the hot key 10 times instead of once. I guess you could create...