Stock market day traders have been known to jump off of high buildings after a bad day's trading......
Thanks, Tom Hargrave www.kegkits.com 256-656-1924 -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Mitch Haley Sent: Saturday, April 19, 2008 7:45 PM To: Mercedes Discussion List Subject: Re: [MBZ] OT: was McCain, now commodities trading "Kaleb C. Striplin" wrote: > > I really do not understand any of this really. So, where did you do > this bidding? Did you actually make any money on it? I placed the orders with the Chicago Board of Trade (CBOT) through my broker. I made $0.40 x 100 and $0.70 x 100, or $100.40 after commissions, in a few minutes. Not bad for playing around on my day off. Then I quit, because the June gold contracts could move a buck in the blink of an eye, and a buck was $100 on a 100 ounce contract. 10-15 minutes after I quit playing with gold in the $912-913 range, it was trading for $907. A half hour after that, it was $921-922. Buying for 912 and selling for 912.4 to 912.7 was fun, but buying at 912 and selling at 907 would not be fun. I had wanted to buy it around 912 and hold it for a $5 to $10 gain, but I just got too nervous with $91k worth of gold contract sitting in my IRA and the price moving faster than the eye could see. The longest I kept a position open was 31 seconds according to my timestamps, but it felt like a long time when I was doing it. I was suprised that a single $91k gold contract would affect me more emotionally than $250k of dow jones industrial average contracts. I think it was because the price was moving faster than I could think, so I was trading on instinct and probably just getting lucky. I think I'll paper trade (pretending to trade) the gold and silver for a while and if it looks like I can make money I'll start playing the 33oz gold and 1000oz silver contracts and see how it goes. Jumping in with the big contracts (100oz gold and 5000oz silver) isn't a smart way to start. I couldn't find a free live quote on the gold futures, but you can watch the live book for the mini dow (5x djia) and big dow (25x djia) contracts here during market hours: (I believe it also works during E-CBOT night trading, you can give it a try Sunday night) http://www.cbot.com/cbot/pub/page1/1,3248,432,00.html _______________________________________ http://www.okiebenz.com For new parts see official list sponsor: http://www.buymbparts.com/ For used parts email [EMAIL PROTECTED] To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com No virus found in this incoming message. Checked by AVG. Version: 7.5.524 / Virus Database: 269.23.1/1384 - Release Date: 4/17/2008 3:47 PM No virus found in this outgoing message. Checked by AVG. Version: 7.5.524 / Virus Database: 269.23.1/1384 - Release Date: 4/17/2008 3:47 PM _______________________________________ http://www.okiebenz.com For new parts see official list sponsor: http://www.buymbparts.com/ For used parts email [EMAIL PROTECTED] To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
