Author Topic: Pure cocaine...  (Read 2786 times)

dogboy

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Pure cocaine...
« on: May 03, 2014, 09:18:06 AM »
I just opened an account at E*Trade, and am learning about commodity options trading - wow. This is one of those areas where I think I can excel, and even though they have nothing to do with each other, I bet some of you would do well too, because I think an Seo type and an options trader have the same kind of mind.  It's about balancing risk and leverage and using discipline and moderation, or you can use it to gamble big and speculate. But for a guy like me that loves the extremes, options are the playground.

The bad side of options is that you can easily lose everything, fast, by speculating too much. It's like the high roller blackjack table; money can evaporate, if you aren't careful.  But the flip side is also true and I spent the morning clicking refresh and watching the numbers go up ridiculously fast... and that was a rush.  Addictive.

jcoronella

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Re: Pure cocaine...
« Reply #1 on: May 05, 2014, 03:09:54 PM »
You mean futures trading?    Tax treatment of 50% long, 50% short term gains regardless of duration of your holdings is great.

Just remember there is no SIPIC or FDIC - I just got my last dollars back from MF Global.


jcoronella

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Re: Pure cocaine...
« Reply #2 on: May 05, 2014, 03:11:39 PM »
MF Global used to run E*Trade's futures accounts.  Etrade washed their hands of it when MF went under and I had a sh## pot of money evaporate.   "Wasn't us" even though it was through their system, login, etc.  Crooks - every last one of them.

littleman

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Re: Pure cocaine...
« Reply #3 on: May 05, 2014, 04:33:47 PM »
Futures trading is zero sum game and powered by inside information -- be careful.

Rupert

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Re: Pure cocaine...
« Reply #4 on: May 06, 2014, 01:34:03 PM »
A very close friend of mine has been doing it successfully on the DAX for about 20 years, maybe more.

He is a gambler, and has downs as well as ups, but is clearly overall up.

He was (is possibly?) still a member of the mercantile exchange.

His view is if the cost of the trade is small enough, the risk is lower than buying and selling shares.

Everything goes up and down, but if the cost of trading is too high, the only winner is the person running the trading platform.
... Make sure you live before you die.