Chris; RE:" CyberTrading Rigz "
wow, thanks info, man - surprising how similar our setups are. We both use that quote.com JAVA chart and MyYahoo and E*TRADE. I used to enter ersatz orders into E*TRADE to get RTQuote BIDxASK, too {grin} - the DATEK account ended all that; their RTQuotes are free. Discovery/Lombard RTQuotes are free, too - and they provide BIDxASK sizes.
Just discovered that the comissions at Pacific Brokerage for options are about 1/2 that of E*TRADE. I'm gonna sit on the LEAPS at E*TRADE and use PBS for trading options.
I usually "trade" options using about $3,500 or $7,500 of capital, fixing the capital rather than the number of contracts. When I trade index options, I take either $7,500 or $15,000 positions. Rarely do I ever hold these positions for more than 14 sessions.
I usually "daytrade" stocks in round 1000s lots, as I'm just scalping a point or three (when I'm lucky) for entertainment.
I use my IRA for daytrading because it is tax-free - so I don't do any LEAPS or even options in it - just a point here, a point there kinda stuff. When I'm not workin' my butt off for a scalping trade like this, or when I go outta town, I usually convert all the cash in this account to SPY shares.
Jurgen and Janko use options and LEAPS for 3-6 month swings - and I haven't learned how to do that, yet.
-Steve |
