Buffett says individuals should be prevented from trading index futures

I love days like this... When the markets freak the fuck out of the general public:D

Makes me come over to check out the elite trader chatter.

I think if you are required to have 25k in your account to day trade stocks.

You should be required to have at least 50k to day trade index futures.

Just doesn't make sense. Now I'm not talking about investing/swing trading/bla bla bla. I'm talking about good old fashioned trading.

If you don't have at least 25k to trade...

Play Poker! Seriously, I wish some one would have made me understand years ago why your bank roll & management is so much more important than when to buy & sell.

Ok, that's all, crawling back in my hole:)
 
Buffett looks like has has 2 feet in the grave!

He is a hypocrite of all time!! Do peeps know that up to 50% of his returns are derivatives??!!!??? Ask him about his bet in forex!! Ask him about his HUGE PUT SELL BET (in the S&P) that almost collapsed Berkshire!! He had to save Goldman to save his ass (GS took the other side of that bet).

His whole empire is betting in the insurance land...that is how he got his money!

Him, Soro's and all the turds need to move to Greece. They all gambled big to make their fortunes!!

They all are HUGE gamblers and have made their money, now they want to dictate on derivatives and shove their f*cking opinions down everyone's throat.

And, lastly....GO SOONERS! Mr. Husker!
 
Quote from Intrinsic:

I love days like this... When the markets freak the fuck out of the general public:D

Makes me come over to check out the elite trader chatter.

I think if you are required to have 25k in your account to day trade stocks.

You should be required to have at least 50k to day trade index futures.

Just doesn't make sense. Now I'm not talking about investing/swing trading/bla bla bla. I'm talking about good old fashioned trading.

If you don't have at least 25k to trade...

Play Poker! Seriously, I wish some one would have made me understand years ago why your bank roll & management is so much more important than when to buy & sell.

Ok, that's all, crawling back in my hole:)
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Oh just to clarify, I'm saying since you are required to have 25k to day trade stocks you should be required to have 50k to day trade index futures...

BUT I DO NOT AGREE WITH THE 25K STOCK DAY TRADE RULE!
If you have the margin, you should be able to trade whatever whenever you want!

Forces the small accounts to trade futures markets which they have no business being in with the amount of capital they have.

But we have been arguing about this broken record since just after I joined this site...
 
Successful trading ultimately comes from making the right decisions on the direction of price. These decisions are not be influenced by the cash size of your account. If you're wrong in a 5k account, you'll still be wrong in a 50k account. If somebody expects they need 25 to 50k to cover a drawdown, then maybe futures is something they have no business in either.

The rationale behind the account minimums is to weed out traders who might recklessly ignore risk. I don't think it works entirely, you still get plenty of unexperienced people, except this time they're churning and burning through a bigger accounts.

Let them churn and burn through a 5k account first to realize how hard it is, so they put the rest of their money to better use.
 
Well I heard this was a free country!

If anyone wants to blow their account so what, it's their money...

I can go to a casino 50 miles and blow all the money I want,

Vegas will be glad to take all your money.

So why limits on trading ?

GS
 
Quote from GS19:

Well I heard this was a free country!

If anyone wants to blow their account so what, it's their money...

I can go to a casino 50 miles and blow all the money I want,

Vegas will be glad to take all your money.

So why limits on trading ?

GS
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Hear hear!
 
The index futures as we know it today didn't exist in the 90's and very illiquid instruments..everby daytraded stocks in the late 90's

index futures is now the preferrred choice daytraders and swing traders cause the margin is like 10% rather than 50% for stocks. it seems like everybody only daytrades index futures. all the tech daytraders in the late 90s daytrading stocks now daytrade index futures.

this 10% leveraged for stocks in the 20's is the reasons for the crash of 1929 overleveraged any daytrader today daytrading index futures like the es mini got wiped out cleaned cause withou mechanical stops..a mental stop would be too slow and brokers would liquidate even if they had margin calls some brokers just liquidate with no margin calls. the market intraday crashed 10% in 5 minutes. so if you were maximum leverage on index futures and had no mechanical stops those accounts wiped out clean and owe the market maker money. STOPS on all trades,,today was the black swan day or blue moon trading day...very very rarely do days happen like this...not since 1987 man. not even the crash and meltdown of 2008 did the market crash like this

previously the index follow stocks,,,now stocks follows index futures,,,this piss off and ripped off lots of the market makers and stock investors and traders the market isn't a casino either....AND IS NOT A VIDEO GAME EITHER.


Quote from stefan_777:

Hear hear!
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