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desperate, You have to ask yourself who you are before you can come up with a solution. Do you want to be self employed or work for a big firm? Would you rather make 2k a month being a day trader or 6k a month working in the industry for someone else? Also, where you are in life is very...

Thanks for all the input. Robert, great explanation of the difference between naz and listed. However, my firm does not have bullets, so I am force to create one. Today I missed 15 cents on a short of 5000 shares so I think it is worth it to create a bullet. Best way to go about it is...

I am going to create a bullet by buying 5000 ORCL (closed at 9.96) and buying 50 Nov 12.5 puts (for around 2.60). Total cost including time decay should be 6 cents unless I can squeeze what I pay for the options closer to parity (2.54). Anyone have any experience in doing this? Did I miss...

The book is worthless. Read Mcmillan , yates, natenberg.

I thought this sight was called elite trader not elite investor. Using PE's is a buch of hog wash! Take a look at any growth stock from the past decade or two. Home Depot, Cisco, Microsoft, Dell. Their PE's were way too expensive and before they made their moves they had PE's of 200x earnings...

http://www.rallymonkey.com

Hey Mr. X - shouldn't you be getting short the ES right now?

Dumtom, On the nasdaq, you want to learn on a "thick" stock. i.e. a stock that has many participants at each tier level. The thickest is CSCO, followed by ORCL, then INTC, DELL. Once you get used to these kinds of stocks you move onto MSFT,KLAC,QLGC etc. I adjust my size accordingly so...

A fellow trader was telling me that listed is easier to daytrade than otc. For fun I traded a little GM today and I don't see what the appeal is. Hard to move stock, cannot hit bids, no size. The only thing I did notice is that the spreads are sometimes fairly wide so scalping between bid and...

Seanote, good entry on your shorts from a few days ago! We could be seeing a bad number from IBM and another major company might warn tonight (it is warnings season).

Aphie, pity you didn't keep the spy short till tomorrow. Ibm's number out any minute any we could get a major company warning on earnings tonight. Btw, remember seanotes shorts from a few days ago - good call.

Aphie, Don't let the fact that everyone gave you a hard time about not trading become a motive to "trade too much". Slow down, stick with one thing. Tomorrow, don't trade, just watch the instrument you will be trading - get a feel for it. Work on your system whatever it is. Define your...

Since the market goes down every time the president speaks - and seems to recover once he is done speaking I am going to try a new strategy. This strategy is called GBSS (George Bush Stops Speaking). Rules of entry: If speech starts with "regrettably" short everything. Upon the word...

Every time georgie speaks the markets go down - he is the best indicator in the market.

currently sp future is 872 and sp spot is 871.9. Premium is 0.1

I saw the s&p premium at 9.0+ on the open this morning. Usually don't see it that high. Am curious - how usual is a number this high? Also on the low side does it ever go negative? Have seen it as low as 0.08 which coincides with the lows of today more or less.

36 years old. Bs in Finance. Started out at the Chicago Board of Trade in the ten year treasury note pit in 89. Currently a stockbroker, series 7,63,4,24,65, CFA (Chartered Financial Analyst) Level 1. SROP (Senior Registered Options Principal) at major firm. Day trade full time my own account...

Aphie, there is only one way to initiate a credit spread. Put in the order on one ticket as a net credit. As someone else mentioned, margin req's on credit spreads are higher. Usually need 25k minimum in account

aphie, firstly the margin req for this position would be 20% of the position plus the premium less the out of the money amount. So 10 puts would be 1000 shares x 10 x 20% = 2,000 plus the net premium which would be $950. So you would need say 3k available in order to put on this position...

Well, I don't know what is the correct answer, but I know what works for me. I trade in increments of 5000 shares building up to 20,000 shares. When I put in the first trade for 5,000 shares and it goes against me I am out for 1-3 cents loss. If the trade goes my way (4-5 cents ahead) then I...