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Nonsense. There is no shortage of the standard 100 oz bars. If you have the cash you can buy all the 100 oz bars you want.

The 80% number probably comes from the old 80/20 principle. For futures trading the usual statistic is that 90% of the traders lose money and for options it is 95%. You may gain some insight by reading "The Futures Game: Who Wins, Who Loses, & Why" by Richard J. Teweles.

You are free to risk your capital to tighten up the spread. The other market participants will appreciate your sacrifice.

How many times does it have to be explained that the market prices of gold and silver are not set by the pikers buying 10 or 20 ounces. The market prices of gold and silver are set by industrial users and large investors/traders who deal in large quanties. If morons want to pay large premiums...

Read the IRS code and relevant forms and instructions (Form 6781 and Schedule SE of Form 1040). Section 1256 gives all futures traders 60/40 treatment. Section 1402(i) makes the futures profits of members of futures exchanges subject to FICA tax. Income defined as self-employment income for...

This is totally incorrect. Members of futures exchanges get 60/40 treatment. Section 1256 contracts are reported on tax form 6781 which gives all futures traders 60/40 treatment. The tax issue for members of futures exchanges is that their futures profits are subject to FICA tax. The...

How did you manage to come up with that nonsense? Exchange members get 60/40 treatment. It was lobbyists paid for by exchange members that got 60/40 written into Section 1256 in the first place.

"4. Doubtful, especially since I've heard a lot of floor traders are average IQ at best. They probably just have better resources (ie. give a genius a stick and a moron a machine gun and who is likely to win?)." If the moron doesn't know how to use the machine gun and the genius knows how to...

All it takes in your example is a market order of 100 NQ to clean out the 5 levels of offers.

The point is that you cannot trade ISK as there is no market. The quote from CMC is not real. From Bloomberg 10/14/08: "There was no trading yesterday in Iceland's krona by foreign banks and the price of the currency remains ``undetermined,'' Beat Siegenthaler, chief strategist for...

I doubt that 148.26/152.26 ISK/EUR is a real market. I'd love to sell 300+ million ISK at that quote, but CMC doesn't take customers from the USA.

No trading market in ISK again today. ECB is still quoting 305 ISK to Euro today as on 10/10/2008.

I understand just fine. A broker gets paid part of the commissions by his firm, not part of the profits from customer's trades. If the broker is not registered as a CTA he cannot legally collect part of the profits. If the broker is that good he would be running his own hedge fund, not...

He keeps his name a secret for a damn good reason - he is not registered as a CTA and is illegally giving trading advice. Commodity Trading Advisor (CTA) A CTA is an individual or organization which, for compensation or profit, advises others as to the value of or the advisability of...

Does he also pay 20-25% of your losses?

IB backfill was very slow and incomplete this morning for Globex contracts, but it worked fine for everything else.

Everyone always complains about IB raising margins, never saw IB asking twice the exchange margin for futures. Futures brokers are free to set margin levels above exchange minimum requirements any time they want to. Customers are free to move to another broker.

Traders are supposed to manage their own risk or the clearing firm does it for them. If your friend had been using IB he would have forced out of his positions as soon as he violated margin and he would have been left with a positive balance in his account.

Overnight price limit of 5% for 4th quarter 2008 for YM is 550 points. Since the YM is already up 300 points you can only place an overnight order at a maximum 250 points above the current price.

I found it with a simple Google search. Q: Will the bear market be similar to the one that followed that peak? Bob Prechter: Similar, yes, but while the bear market of the 1700s produced 64 years of a zigzag pattern, a very simple down-up-down shape, this one is likely to be a sideways...