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(manarak @ Jul. 01 2010,12:53) 
any links?
any links?
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http://www.bloomberg.com/news....ys.html -
I wouldn't be advocating such products around here(manarak @ Jul. 02 2010,00:47) nothing is as simple and cheap as a short future.
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The product in itself is fine...(azza33 @ Jul. 02 2010,06:24)I wouldn't be advocating such products around here(manarak @ Jul. 02 2010,00:47) nothing is as simple and cheap as a short future.
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?Comment
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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.Comment
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err... 5% * 1000 points (approx.) = 50 * 250 = 12500 USD.Comment
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your maths is correct but you need to work on your english(manarak @ Jul. 02 2010,15:28)
err... 5% * 1000 points (approx.) = 50 * 250 = 12500 USD.
.....with a few contracts....Comment
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well, one contract is enough for me!! LOLComment
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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
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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.
LOLComment
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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.Comment
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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...
Despite the high cost of living, it continues to be popular.Comment
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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
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But the best part is the profit came from the opposite move to what he intended...(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...
Some guys are just lucky...
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well, not always :-(Comment
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