If you guys ever want to gamble (legally) during the day

SSI · Jun 30, 2006

Learn to trade commodities... I am always astonsihed at how few here, no little to nothing about this.. It offers everything sports wagering does and lots more.

Numerous ways to (bet), i mean trade..

Can get into this for little to nothing, in comparison to stock trading. Can open an account with my broker (for as little as $1,000) and be trading.

Of course, it has its pitfalls, like everything else..

Ill be going on vacation in a couple of weeks and after that, i plan on returning to the commodity trading world..

Numerous markets to choose from and many ways to do it, from the active day trader in the SP market ,,,,,,,,,,,,, to the slow option trader...

Have any of you guys ever looked into this, if you havent, you dont know what your missing.. You know that feeling you get on saturday morning, as soon as you wake up and its game time in a few hours... Try experiencing that each day............... Try staying Long or Short overnight in the sp market or emini sp market and wondering whats going on in after hours trading or in the overseas markets.. Try calling the night desk to get out of a posistion in a thin market,,,,,,,,, talk about a rush..

if you ever cant gamble offshore, look into this venue, it may be just what your looking for..

HarryCaray · Jun 30, 2006

Any word on frozen orange juice futures Mortimer?

SSI · Jun 30, 2006

you would have been a rich man, had you bought into OJ last year and kept rolling forward..

OJ, is a very thin market and ive never traded it much in futures but my first trade ever was a Call option in Nov OJ, i made $1100 in about 2 weeks and was bitten, of course that was a long time ago and if i would have held it 2 more weeks, id have made triple that..

SSI · Jun 30, 2006

Iceman, if your reading this, i could definately see you as an Option trader. You would be figuring the delta of the option.. With options, its all about value there as well..

viking611 · Jun 30, 2006

HarryCaray said:
Any word on frozen orange juice futures Mortimer?

:missingte what a great movie.

heart222 · Jun 30, 2006

dont forgetgamma and theta. best most liquid options bonds and grains for what its worth. regards heart222

SSI · Jun 30, 2006

bobk, havent you always wondered, why more of these guys (on this forum) didnt trade commodities........ Im not talking about profits, im talking about the addiction..

Iceman · Jun 30, 2006

SSI said:
Iceman, if your reading this, i could definately see you as an Option trader. You would be figuring the delta of the option.. With options, its all about value there as well..

I am looking for something to pursue during 12-3 (est) daily as that is my down time during my all work day. Sounds VERY INTERESTING but I don't know ANYTHING at all about it.

I love to learn. Give me some advice on where to read about the most basic stuff on this.

Is their poetential for a guy with 5k or so to get started? How have you done at it? Is it harder than gambling?

I am very excitied thinking about it. I have spent the last few days looking into other "streams" of income but nothing has caught my eye. This might be right my alley, as I do have the passion to succeed at this sort of stuff(daily gambling/risk taking)?

Would love to get a book to read this weekend (actually thinking about pursuing poker but it never has done anything for me), any suggestions on options trading books/magazines?

Like I said I have no knowledge of this stuff (though I have been involved in the market in a small way for a few years and do have a broker at Edward Jones who when I brought this up shrugged his shoulders. He is to conservative for me).

I have always admired your passion SSI. I trust your judgement on this and would love to learn.

Whoson1st · Jun 30, 2006

Any good books to read that explains how to do this in simple terms for the complete first timer?

When I bet a baseball game --I know how that works and how a team scores runs and can watch it in REAL life unfold before my very eyes. That's what I would want to know about this. ALL the details.

SSI · Jun 30, 2006

ill dig thru some of my old stuff, i started with this stuff about 15 years ago... did really well at first.. but my time became short and had to devote it to other things...

google commodity trading...

i actually learned the basics from Ken Roberts course,,,,,,,,,, but i would not recommend his stuff for money making but it is ok as an introduction..

you can also go to "Commodity Traders Forum", there are alot of good links and charts on that site.. '

Ice, you can definately start with 5k......... most new traders, start by simply buying options, either calls or puts..

i dont really want to get into an elementary education class here but id be glad to help out in any way..

our poster heart222, is a longtime broker in this business, i hope that you dont mind me saying that bobk.........

im sure he would be glad to help out as well............ im a little rusty in the actual markets at the moment, so im going to play catchup for the next few weeks..

i prefer short term trading, now im not really talking about day trading but i have made $500 in 15 minutes before..

do some research Ice, go to that website that i mentioned, do a google.. read during that strecth of time for a few weeks, then we can talk more..

ill help out as much as possible, but trust me,,,,,,,,,,, you guys would love this... i used to trade a lot, even had esignal live quotes running all the time.. you think donbest is something..

emini, grains, meats, and a little cocoa and sugar, were my favorites..

SSI · Jun 30, 2006

Ice, traders are either technical or fundamental.. technical traders trade off price and indicators, fundamental traders trade off things like supply and demand, or the weather..

i absolutely love this stuff..

hundreds of strategies to use, you can either trade futures or options, both have risks and rewards...

do not believe the horror stories, although there are many... trading with stops will eliminate the majority of mistakes.. I cant go into discussing this, although id love too...

Ice, buying an atm option and selling 2 otm options would probably fit your style.. be careful if you do this online, its better to work with a discount broker....... $25rt in a fair price for full service from a discount broker..

once you are familiar with things and want to try this, let me know.. i can help you out....

Iceman · Jun 30, 2006

SSI said:
Ice, traders are either technical or fundamental.. technical traders trade off price and indicators, fundamental traders trade off things like supply and demand, or the weather..

i absolutely love this stuff..

hundreds of strategies to use, you can either trade futures or options, both have risks and rewards...

do not believe the horror stories, although there are many... trading with stops will eliminate the majority of mistakes.. I cant go into discussing this, although id love too...

Ice, buying an atm option and selling 2 otm options would probably fit your style.. be careful if you do this online, its better to work with a discount broker....... $25rt in a fair price for full service from a discount broker..

once you are familiar with things and want to try this, let me know.. i can help you out....

okay you have peaked my interest (sorry, don't say I didn't warn you. LOL). I have read a little about options trading and have a little feel for it but not enough to carry much of a conversation.

From an outsider looking in why does the whole market thing seem like all luck to me (I'm sure stock guys feel the same way about us sports guys, actually they laugh harder at us).

What is your goals daily/monthly with this? Is it worth your time? I love to numbers crunching and reading but to get involved I feel I have to have a small edge. Will start studying.

SSI · Jun 30, 2006

ice, here is a trade for you.... i just looked at the soybean market... commodities trade in specific months. so we will look at november beans, which is the new crop (this year).... nov beans settled today at $6.22 per bushel... we can buy a $6.40 call option for $1300...

a call option is a posistion in the market (6.40) that we think the price will go up... the market is at 6.22 so our option is out of the money (otm)... we are buying time with this option, it will be good until the third week of october, as most options expire in the preceding month.. now we want the market to rise and we also know that when buying an option, the most we can lose is the cost of the option and comm, no more.......... lets say beans go to $7.00 per bushel,,, our option is then worth $3,000 in real value and also will have some time value left, so we have made $1,700 +... in profits and our breakeven point on this option is $6.67...

for every cent beans move, or any grain, its $50 in real money.. im sure i lost you but thats ok......

familiarize yourself with this jargon, then we can really talk..

SSI · Jun 30, 2006

ice, remember, im not an active trader right now..... i have my account open and tried a trade a couple of weeks ago... but i havent been trading fulltime for a while..

when im short term trading the emini, my goal was $200 per day..

short term trading the grains is different...

i was a support and resistance guy, there is a lot of money to be made by playing within a channel...... buying on supp and selling on resistance.. placing a stop just outside the channel to not get burnt on a breakout..

the profit potential in the commodity market, would make the sports betting pale in comparison..

there are plenty of edges to be found..

ive got to go to bed tonight, study up and we can talk....

Iceman · Jul 1, 2006

SSI said:
ice, remember, im not an active trader right now..... i have my account open and tried a trade a couple of weeks ago... but i havent been trading fulltime for a while..

when im short term trading the emini, my goal was $200 per day..

short term trading the grains is different...

i was a support and resistance guy, there is a lot of money to be made by playing within a channel...... buying on supp and selling on resistance.. placing a stop just outside the channel to not get burnt on a breakout..

the profit potential in the commodity market, would make the sports betting pale in comparison..

there are plenty of edges to be found..

ive got to go to bed tonight, study up and we can talk....

If I wanted to make $75 a day how much time,effort and most importantly money would I need to put into it?

freebie · Jul 1, 2006

why dick around with something we're not familiar with and waste money?

Just stick with sports betting and that's what we know and good at.

very good piece of advice to lose money for the novice.

TrueAirgo · Jul 1, 2006

SSI said:
Learn to trade commodities... I am always astonsihed at how few here, no little to nothing about this.. It offers everything sports wagering does and lots more.

Numerous ways to (bet), i mean trade..

Can get into this for little to nothing, in comparison to stock trading. Can open an account with my broker (for as little as $1,000) and be trading.

Of course, it has its pitfalls, like everything else..

Ill be going on vacation in a couple of weeks and after that, i plan on returning to the commodity trading world..

Numerous markets to choose from and many ways to do it, from the active day trader in the SP market ,,,,,,,,,,,,, to the slow option trader...

Have any of you guys ever looked into this, if you havent, you dont know what your missing.. You know that feeling you get on saturday morning, as soon as you wake up and its game time in a few hours... Try experiencing that each day............... Try staying Long or Short overnight in the sp market or emini sp market and wondering whats going on in after hours trading or in the overseas markets.. Try calling the night desk to get out of a posistion in a thin market,,,,,,,,, talk about a rush..

if you ever cant gamble offshore, look into this venue, it may be just what your looking for..

Thanks for the insight.

heart222 · Jul 1, 2006

hi. the best basic book is probably commodities for dummies or options for dummies. Those books are pretty good on lots of subjects so dont take dummies personnally. any major book store borders barns and noble etc will have a ton of books on commods or futures or options in general.
when SSI talks abouttechnical trading it is similar to beting sports the item in question has stopped going down at point a thus if it comes there again i can buy it with a low risk trade.
pitcher A has a whip of 1.00 his opponent is a rookie. I have a low risk bet?
my email is elbokas@aol.com be glad to chat with anyone who wishes to. I work for a full service broker so I am exspesive compared to the discount brokers.
Exchange rules do not allow me to make reccomendations at forums so I cannot post here.
best of luck to all its like sports it is one of the hardest easy things to do:

) heart 222

Whoson1st · Jul 1, 2006

Funny to me how the government says THIS is a perfectally Legal way to gamble, but not on if the Washington Redskins will win : OVER or Under (-# of games). How absurd. I have about the same info on the future price of soybeans as to this outcome. Neither outcome benefits society in any way.

royalfan · Jul 1, 2006

If the gambling laws pass, this and heavy stock option trading will be my next focus. Have a backround in it. Used to be a licensed broker.

If you guys ever want to gamble (legally) during the day

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