Free Bright Trading Mid Year Workshop

Quote from Maverick74:

Futures are already levered around 20 to 1. That's a lot! As for stock, one can get the synthetic leverage through lower priced stocks in additional to the 4 to 1 intra-day. There is more then enough leverage to hang yourself.

And FX is levered 50 to 1 if you want to go that route.

Synthetic stock is levered 5 to 1 overnight which I believe is the same leverage for single stock futures.
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No FX for me, stictly the EC for currencies, and I have my accounts over funded in light of the scum bags that keep stealing customer money. I am thinking of reducing cash in my futures accounts to a bit above required for what I trade, so if something goes bad I won't take as big a potential hit. In equities and equity options I can't say I get above 2x and my option trades are always done so that I have cash to take a position if exercised.
I must be getting old, I save my risk for driving the motorcycle and flying. No desire to lose sleep over money anymore.
 
Quote from Don Bright:

I have 2 developers who have done a lot of work to date. They're both willing to do all this for free, and I will likely go with one of them. Website is for information, and I've actually had several who are glad we don't try to wow them with all the cool web technology. However, I think we'll have something new and updated soon.

Don
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Thanks for knowing that (a) I like you, and (b) I wasn't attacking you personally. I agree with you, if it's too cool than it's also a red flag of "what is all this smoke-n-mirrors?" i don't want to post competitor's websites....but like bloomberg dot com is pretty simple, easy, and not too much. if u want to do much more videos instead of articles, something like cyclingdirt dot org. a little too much, but it gives you an idea. of course, if you want more of a static website and not update it too much, then look at banks websites. like bank of america dot com.

i can be reached at 1-900-MKE-BANK. I charge $45,000 per minute for consulting. :)
 
IMO-- NO ONE should ever hold more cash than minimum margin for trading in any futures or forex account--- Been preaching this for years, but the brokers PR budgets are tough to challenge...

-- 1000 per contract is plenty in the YM for intraday-- if you lose 100 points in a day, its time to call it quits anyway....
 
Quote from marketsurfer:

IMO-- NO ONE should ever hold more cash than minimum margin for trading in any futures or forex account--- Been preaching this for years, but the brokers PR budgets are tough to challenge...

-- 1000 per contract is plenty in the YM for intraday-- if you lose 100 points in a day, its time to call it quits anyway....
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Try telling that to emg. That clown continues to preach having 100k in your account PER CONTRACT you plan on trading.
 
Quote from jnbadger:

Try telling that to emg. That clown continues to preach having 100k in your account PER CONTRACT you plan on trading.
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He must work for a broker. I can't think of any other reason for that nonsense.
 
Quote from jnbadger:

Try telling that to emg. That clown continues to preach having 100k in your account PER CONTRACT you plan on trading.
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I didn't get to that point.....but I admit I have been in the $35-55k range per contract for a couple of years for my futures. I have felt I was with good firms, but I should know better. All is good until it isn't. I am moving cash away to much lower minimums. I also don't want to be where I was when I started, although the minimums then were much bigger to begin with than the goofs offering $500 per contract. I don't worry about me, but I worry about the firm and the people they have at those levels. My firms ask for a bit more, but less than what I think is appropriate just the same.
 
Quote from taclander:

I didn't get to that point.....but I admit I have been in the $35-55k range per contract for a couple of years for my futures. I have felt I was with good firms, but I should know better. All is good until it isn't. I am moving cash away to much lower minimums. I also don't want to be where I was when I started, although the minimums then were much bigger to begin with than the goofs offering $500 per contract. I don't worry about me, but I worry about the firm and the people they have at those levels. My firms ask for a bit more, but less than what I think is appropriate just the same.
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Hi Taclander,

Can you explain the logic behind having more than a $500 cushion ($1000 per contract at $500 day trade margins) per contract traded?

What am I missing, What's the edge? Thanks!

surf
 
Quote from marketsurfer:

Hi Taclander,

Can you explain the logic behind having more than a $500 cushion ($1000 per contract at $500 day trade margins) per contract traded?

What am I missing, What's the edge? Thanks!

surf
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No problem. As I became successful trading, and not on a one day basis, I made the psychological commitment to not trade on the edge of margin as I did when I started. I don't buy into the daytrade margins as being acceptable, but in light of what seems to be happening on a regular basis I am moving towards minimums. My thought after I was making a living was $10,000 for the first contract, and $5000 for each additional for people just starting out. From there I kept upping my minimums for myself. It is a mind set, as most trading seems to be. I am in the process of changing that as my faith in any broker is failing.
I have a good friend who is an IB for a firm. I told him long ago I have no interest in doing business with him as I don't trust the firm he uses for clearing. It was based on experience with the firm, and my statements being wrong almost nightly. They were always corrected after I called, but why would I do business with a large firm that screws up regularly. Oddly enough this firm gets recommendations on here as well as elsewhere, but I will never do business with them again.
I never am able to summarize simply, but to the point, I am pulling back cash in my accounts. I won't be at minimums, but not far off, as my trust for the system is at an all time low. Rick Santelli swears by the futures system, but I don't by that story anymore. I don't want the clowns in government jumping in as they are even worse, but oversight is greatly lacking in equities and futures, obviously, and sadly.
 
I guess as an addendum I have issues with how our markets are going. I think the dark pool concepts etcs. are a load of crap. With that kind of b.s. and the abuses on the futures side I feel no issues with going on the attack on my side. Not many options for us low life retail guys, but I study and look for opportunities.
My idea of war is no politics, you annihilate the competition. I gather that is the idea of you pros, so I have no intention of tolerating or playing that game. I look to teminate the other side and make money for me.
 
Quote from Don Bright:

... Bob made millions last year ($12 mil about) trading emini's - this year is more focused on SPY vs. emini's.

All the best,

Don
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Averaging over a year, that's $1M per month, or approx $50K per trading day. Using the ES e-mini, that works out to 1 point of profit per day ($50) with 1000 contracts. Impressive.
 
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