The TLFs INSIDER TRADER!

[PigDogg]

(manarak @ Jul. 01 2010,12:53)
any links?

http://www.bloomberg.com/news....ys.html

[azza33]

(manarak @ Jul. 02 2010,00:47) nothing is as simple and cheap as a short future.

I wouldn't be advocating such products around here

[azza33]

(thaibound @ Jul. 02 2010,01:31)
nor as sad as having one

[manarak]

(azza33 @ Jul. 02 2010,06:24)

(manarak @ Jul. 02 2010,00:47) nothing is as simple and cheap as a short future.

I wouldn't be advocating such products around here  

The product in itself is fine...

But the people taking too much risks with such products are loonies.

The S&P is 250 USD per point (so it's like moving 250.000 USD with a single contract) and costs me about a dollar per contract.
Plus it's available almost 24 hours through globex.
What product can beat that?

[azza33]

Never said it was a bad product, but leverage can wipe people out very fast.
Hence i don't think it a great idea to spread the news.

i.e 250 USD per pt. & if you get a 5% movement in the index and sitting on the wrong side of it with a few contracts....

Great way to loose $100k if you are not careful and don't have extremely good risk management discipline.

[manarak]

err... 5% * 1000 points (approx.) = 50 * 250 = 12500 USD.

[azza33]

(manarak @ Jul. 02 2010,15:28)

err... 5% * 1000 points (approx.) = 50 * 250 = 12500 USD.

your maths is correct but you need to work on your english

.....with a few contracts....

[manarak]

well, one contract is enough for me!! LOL

[azza33]

You are braver man than me - i'd have a heart attack trading those things.

I rather go out shagging the pants off a cute ladyboy than watch the S & P bust my nuts

[manarak]

ROFLMAO

When I have a couple futures open, I am nervous too, trust me...
But that's only when it's my own money.

Back during my trading days at the bank I traded sometimes a thousand of them in a single trade without batting an eyelid!

When it's my money, I shit in my pants.
LOL

[manarak]

already happened:

being very nervous trading 2 DAX on my own money...

hitting the keyboard and fighting with internet lag...

the trade wouldn't want to go in, and I had to type it in three times...

then it finally fired...

and then I discovered I traded the wrong side! (i.e. sold instead of bought)

then I tried to close the pos.

only to discover that one of my previous trades came through as well!

then the internet broke down!

I had to dry my hands on my shirt and called the broker

all phones were busy because many people had the same problem, I couldn't speak with anybody.
...
market closed

oh well...
I went for a golf.

next morning (and after using about 5 sets of underwear in the night):

4 futures open, 4000 EUR profit. LOL.

[pacman]

    What a great story...        

Right there are all the reasons why I am a chicken-shit trader.

If there's no insider knowledge, I am not in...      

[azza33]

Reminds me of the mid 90's when i had my 1st digital mobile (brick) and i was my way to Portsea for a swim.
Back in those days i was a man of leisure and trading was the only thing i did, albeit on a fairly small scale.

Battery life was not a strong point on those early model phones...

So here i am driving along in the car on the phone waiting to put a sell order in with my broker and the phone dies.

I decided, the swim was far more important as it was a great day and the surf was good.

That decision and and the dead phone cost me $1000 .... oh well

[azza33]

(pacman @ Jul. 03 2010,15:33)     What a great story...        

Right there are all the reasons why I am a chicken-shit trader.

If there's no insider knowledge, I am not in...      

But the best part is the profit came from the opposite move to what he intended...

Some guys are just lucky...

[manarak]

well, not always :-(