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It's 35 or more years ago and I don't recall. I'm sure it was a pseudonym. You're not out of Chicago by any chance? I see you are a recent joiner of ET. Welcome to the brawl ... lol.

Many have construed my handle here as signifying that I concern myself and/or try to protect myself from "Black Swan Events" but nothing could be further from the truth. No one can afford to pay premium because it makes them feel safe. Bill has it correct here. More than nine out of ten...

In a prior post I already commended you for coming up with the citation. But as for your call you must be the only one ever to call a Federal agency and get the right answer. The calls to agencies mean little (to my way of thinking) until you come up with the hard evidence ... which you now...

I have been firmly (vehemently?) on the other side of this debate having never seen any statement of this nature and, relying on estoppel, felt quite comfortable in having the SIPC insurance. While I have great faith in IB's balance sheet and conservative margin rules I will, tomorrow, take a...

Google how to trade. Good luck with getting real life information that way ... lol. Yeah ... I guess I was a dick. But you were trying to tell me what I know cold. And you were dead wrong. Johnny Black for me ..... not a G & T.

I will give you a simple example and, if you are the man I think you are, you will not let that half-a-mill handle over four years go to your head and you will simply give up on the conversation. Since you seem more conversant with football i will use that. If I am making book and you call...

Mav, like i said you are way out of your league here.

Do you have any idea how much a guy has to be holding on a game before he has to go outside of NYC to lay it off? There are small -- and maybe some midsized -- countries that have GNP's that are are smaller.

I was a dime baseball better in high school, Mav. Stick to your prop conversation. You are an industrial league player in this area. You simply have no clue as to what you are talking about. It is like the guy who buys a few mutual finds thinking he understands how the equity markets work...

Mav, I'm not sure if my small disagreement here is with you or Wiki. I agree with virtually everything said in the post except the excerpted portion. In my experience smart bookmakers -- and most are not smart -- are like smart market makers. They not only see order flow they regard order...

The longer they trade the poorer the monkeys (even the top 10) will be. Say you have $1000 and you go to a roulette table (yes ... it is a very bad bet) what is the best stake you can play for? The best bet you can make is a single bet for $1000. The more handle you give the house the more...

I am not saying this can't work but i can tell you that many have reported that they have tried to do exactly what you described and could not make it work. Why? I have no idea.

Ultimately every trader has to use return on cash as "a" benchmark even if not "the" benchmark. The 300% on cash does not surprise me nor would 600% but it is fair to say that 2000% is another league entirely. The math in your example assumes a 100% return on buying power yet you say an...

Not for me but a fascinating concept.

If I take this literally "thousands" means at least 2000% and "a years" implies some consistency. Is there reality to this Mav, Don and any others that care to chime in? How many guys trading prop really do 2000% or better on their own cash? Is it a handful of guys in the entire industry or...

While I do not know, or care, whether Don has 60 million it seems to me that if he has 60 (or even just a paltry 20) he might not want to piss any of it away backing traders that have zero skin in the game. And if he ever decides he is in the business of throwing up his money so others can...

Not long-winded ... comprehensive. Much of it is beyond me yet I am starting to see that if I plan my next upgrade properly I can obtain much better results for a modest investment, Just knowing that equation exists and is obtainable for someone my size and with my budget is a revelation. Thanks.

Even brokers don't have the balls to try that!!!!!

They like lending you money particularly since they may be lending you some of mine! You are too conservative to run into a magin problem ... just don't lose it in the trade.

Since the 50% margin requirement is an an initial requirement and your maintenance margin is less than 50% they simply lend you a bit more money each month. Before you think of your leverage as skyrocketing do the calculation. In these times of low interest the leverage is not shooting up...