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Old 04-13-2011, 06:45 PM   #21
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In a bazaar in a town in Tunisia I was once offered 3 camels for my wife, who was 5 months pregnant at the time. I wouldn't have had much of a future if I'd made that trade
Hopefully you said, "Thank you, but I don't smoke".
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Old 04-13-2011, 08:22 PM   #22
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I had an interesting experience today that bears on futures trading. I was having a glass of wine and some oysters at a hotel bar when in comes this middle aged, very outgoing guy who introduced himself as Mike. He is a Merrill stockbroker. He had many, many good stories to tell, but the one that bears on this is that in the early 70s all Merrill brokers were also required to have commodities certification. There were a lot of ticket writing errors, and Merrill was having to eat these losses. So Mike's boss gave him the job of doing a profitability study on their Seattle retail commodity business. Ten years, zero profit! Then he got the job of analyzing client turnover to see if it might be worthwhile continuing just as business development. Huge client turnover- they came in, got wiped out, and left forever.

So the office shut down it's commodity business, and fired the brokers who didn't want to become stock brokers.

Ha
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Old 04-14-2011, 06:43 AM   #23
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Originally Posted by atlas1212 View Post

With futures, let's say I buy a contract for 1000 at 85cents for whatever..let's say sugar. If it goes up, I make money. If I stop loss it at 81. I lose my thousand but do I also have to pay the other few hundred I lost? if so, how does that work?
Nothing wrong with advice given Atlas, but folks would really be hard to answer his question with?

"Yes because futures are almost always bought on margin you can easily lose more than your investment because stop loss don't always work"

Then follow with sage advice of don't do this stuff without becoming a lot smarter.
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Old 04-14-2011, 10:43 PM   #24
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In a bazaar in a town in Tunisia I was once offered 3 camels for my wife, who was 5 months pregnant at the time. I wouldn't have had much of a future if I'd made that trade
Oh, I would not blame your wife if she got furious.

I thought a minimum deal for a fair trade was 5 camels and 50 goats.
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Old 04-16-2011, 11:18 AM   #25
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How are you getting on with your trading Atlas1212? Hope you have taken the advice on here to heart.
Quote:
Originally Posted by clifp View Post
Nothing wrong with advice given Atlas, but folks would really be hard to answer his question with?
"Yes because futures are almost always bought on margin you can easily lose more than your investment because stop loss don't always work"
Then follow with sage advice of don't do this stuff without becoming a lot smarter.
I'm with Clif. Because, golly, we wouldn't want to make those new users feel unwelcome, would we?

Atlas has only six posts, four on this thread and two on gold. I think the result was predictable, and he's probably moved on to more fertile tutorials over at Yahoo! finance...
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