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Hitman, the best patterns I know of are really simple stuff like "3 or 4 shooting stars" on a 1 minute chart at a normal reversal time. Or like the "3 or 4 hammers" on a 1 minute chart when the NQs are reversing to the upside. The best of all is probably the capitulation reversal (Like the GNP...

Janko, listening to you is just the decent thing to do.... after all, some of us may have been your clients whining about the crummy performance of our ports while at Schwab. ;)

With the enactment of the new day-trading prohibition it may become desirable to trade options rather than stocks. I have a great collection of Stock Trading books but have none for options. What are the best books on option trading? Thanks for your suggestions. ~EC

My God they are a smug bunch! "'Where would these customers go?'" ...Indeed!!! How about trading something else?... real estate... cars... baseball cards... art... guns... Nope there certainly is no where else to go in a free market. We must trade stocks and according to their silly...

This is bizarre... so a new trader could get 4:1 margin and go long 8K. He holds it overnight so as not to become a "pattern day-trader". In the morning he wakes up with a stock that has been halted for trade and finds after a day or two that his account is worth zilch. He has lost his $2000.00...

But I would loose that margin on the day the SEC rules go into effect... the 28th of September... right? Or can I keep the marging but just not day-trade with it?

If I open an account of $25K or largerwith Datek I get 4:1 margin and only 2:1 with IB?

LOL... "The amendment was intended to address criticisms that too many inexperienced investors were borrowing huge sums "on margin" from their brokerages for investing" So how was it that an investor with $2000.00 was "borrowing huge sums"? Were they giving 50:1 margin??? What is meant by...

Turok, what do you pay for charting with Realtick? Thanks

RE: "The Germans didn't bomb Pearl Harbor. It was the Japanese!!! " If you need to explain it it kind of looses something....

Here's a little coverage on the subject... let's hope for more. http://www.thestreet.com/markets/taleofthetape/1524730.html

Kicking, I've heard from some people that CNBC were suprised at the new rule and didn't care for the idea. Not everyone on CNBC is a complete moron.

Call 201-585-6350 and talk to CNBC regarding the new SEC regs on daytrading. CNBC says they had no idea this is going to happen. This may be the way to get the publicity we need. Be patient looks like a lot of people may try to get through.

MGB, about the Fed meeting tommorrow; there was an article at Tradingmarkets.com a while back about getting the direction right after a fed meeting. I think it went something like the 3rd wave is right 90% of the time. That is if the market goes up in response... then corrects... bottoms and...

MGB, I'm in the Seattle area too and work in the high tech industry. I only travel about 30 minutes to work and manage to trade most mornings. I try to trade from the opening bell (6:30 AM PT) to 7:45 AM... I once in a while trade at lunch 12:00 to 1:00PM. It is possible to trade and work...

The Market Topology is very interesting. MGB, does this mean that you follow SMH in trying to trade NVDA? According to the map you might be better off following QCOM or EMLX. Weird stuff. Anyone making sense of trading according to these mapped correlations?

If you have less than 25K in your account do you get 2:1 margin or 4:1 margin or no margin at all?

MGB, are you following stochastics on NQs or an indicator stock or just the stock your looking to trade? Nice thread.

True... but at what age? And was it in South America (I think that is where he was from) for God only knows what reason? Some traders have had one hell of a life. Don't disagree that it should raise a flag but in this country (USA)it's difficult to get evicted....in South America it's a totally...

Did you mean evicted or convicted? I have no problem with someone who had such a rough life at some time that they were evicted. Now if you meant convicted... that's different.