Nikkei down 466 points!

No offense bro... but I never much liked guys who stood behind me while I was sitting at the table. Didn't the ES drop last night? I don't know what is going to happen next, but I do know all your comments behind me while I sit at the table are not very appealing to me, and likely to others!

Never understood why some guys gotta make comments about others, while they will never come sit and join us at the table.

And where were you last night as we all spoke with emotion about the nikkei being down so much. From what I saw the ES was hit bad coinciding with all the doom and gloom I read!

Tonight there is still a HUGE gap down so maybe we head lower, but as far as a crash... I don't want to see it. But we gotta wait and see if the SPX can make it back above the 50 day EMA after the open.

b.t.w. how do you hold such a huge resentment to my overnight position while I'm working the 3rd shift? :eek:

Chris
:cool:
 
anyone watching the nikkei tonight, or the Asian markets in general...looks like the nikkei is trying to climb up from yesterdays drop (up about 1.4% so far). How many times has big Asian market drops started big sell-offs in the U.S. the following day?
 
I love it , 50esz's short overnight, while working the Third Shift at SWA.

This is an Etrade commercial for sure.......

are you game? we can make a lot of money putting this on a commercial,

ahhh man,,,,i love this site:cool:
 
Quote from ertrader1:

I love it , 50esz's short overnight, while working the Third Shift at SWA.

This is an Etrade commercial for sure.......

are you game? we can make a lot of money putting this on a commercial,

ahhh man,,,,i love this site:cool:
More...

Let's do some simple math to see if this is possible. Let's see.

On IB, overnite initial margin on ES is 3563. Maintenance margin is 2850. Assuming, he's already in the black from the gecko with his 50 ES and just have to maintain maintenance margin of 2850 * 50 = $142,500

If someone has $142,500 laying around just to meet margins, then he's already a pretty darn good trader that he might not need to work. Even assuming a lower overnite maintenance margin of $2000 * 50 = $100K just sitting in his trading account. Not including his bank and savings and what not.

If he said 15-20 then it's believable. I've done 15-20 overnites before on my meager account and was scared shitless but held on for a decent gain before.

Even prop firms wouldn't let you hold 50 ESs overnites...
 
I made a promise to my wife in January of 2003 that I would stay at SWA for the rest of the year, as I made up a plan to leave the aviation industry after about 19 years to trade fulltime. I have had a very good year trading the ES since January and I have continually built up my contract sizing about every other month as my account grew from profits. I have decided to keep my word to my wife and stick it out at SWA. I am only 39 years old and after all these years in aviation, I think I can last a few more months. I usually give one of my days away each week to another AMT, so I currently only have to work three nights a week most weeks (I work a 4 day on 10hr schedule...on third shift). I have worked for three major airlines in my life and I have always made good money yearly ($70,000 to $100,000 range...depending on overtime) over all my years as an AMT. Preferred "C" Stock at one airline and stock options at SWA have provided me with some very nice lump sum payouts in my life. In the late 80's to the mid 90's I owned several newer townhome rental properties that turned out to be very good investments for me. I also bought a home in Las Vegas in 1997 (parents moved there to retire), and I never dreamed of how fast that property would appreciate. So my friend I have been very blessed in my life and I will always remember this. I went from flying and fixing "Cobra" gunships in the middle of no where in the early 80's, to just several months away from personal freedom and trading for a living! I think I can make it working a few more months at SWA...don't you?

Chris

BTW, I have loved aircraft since I was only 5 years old, so giving this profession up is not that easy. I will truly miss it! :(
 
Quote from AMT4SWA:

I made a promise to my wife in January of 2003 that I would stay at SWA for the rest of the year, as I made up a plan to leave the aviation industry after about 19 years to trade fulltime.
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Just be careful with your leverage. Right now you're playing with gains with the backup of a job. But when you leave your job you will (hopefully) become more realistic about risk, and remember that pigs get fed but hogs get slaughtered. Set a monthly budget that you need for living expenses and a nice account gain on top of that. If you start to seriously push your leverage beyond what is needed to support these numbers, you should question yourself each time you start to take on more. My attitude toward risk changed substantially when I started earning a living from my trading. But that is not a bad thing at all.

It pays to repeat here: There are old traders and bold traders, but very few old, bold traders.
 
when i get my first plane, will you come by and do the annuals for me? :)

hey, maybe we can install a trading device in it as well! i can just see it now....'king air 95633 you are cleared for the approach....roger that, cleared for the approach....hey chris, can you close out that trade, we're gonna land!'

-funky

Quote from AMT4SWA:

I made a promise to my wife in January of 2003 that I would stay at SWA for the rest of the year, as I made up a plan to leave the aviation industry after about 19 years to trade fulltime. I have had a very good year trading the ES since January and I have continually built up my contract sizing about every other month as my account grew from profits. I have decided to keep my word to my wife and stick it out at SWA. I am only 39 years old and after all these years in aviation, I think I can last a few more months. I usually give one of my days away each week to another AMT, so I currently only have to work three nights a week most weeks (I work a 4 day on 10hr schedule...on third shift). I have worked for three major airlines in my life and I have always made good money yearly ($70,000 to $100,000 range...depending on overtime) over all my years as an AMT. Preferred "C" Stock at one airline and stock options at SWA have provided me with some very nice lump sum payouts in my life. In the late 80's to the mid 90's I owned several newer townhome rental properties that turned out to be very good investments for me. I also bought a home in Las Vegas in 1997 (parents moved there to retire), and I never dreamed of how fast that property would appreciate. So my friend I have been very blessed in my life and I will always remember this. I went from flying and fixing "Cobra" gunships in the middle of no where in the early 80's, to just several months away from personal freedom and trading for a living! I think I can make it working a few more months at SWA...don't you?

Chris

BTW, I have loved aircraft since I was only 5 years old, so giving this profession up is not that easy. I will truly miss it! :(
More...
 
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