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Strategies & Market Trends : Canadian Options -- Ignore unavailable to you. Want to Upgrade?

To: notredame who wrote (890)	3/18/1998 10:54:00 AM
From: Dave.S	Read Replies (2) \| Respond to of 1598

ND: To answer your questions: 1) The equities are traded directly over the computerized CATS system. This means I just enter the trades myself while watching the booked orders. The options are traded using open outcry which means walking over to the square where the option class is traded and making the trade with a MM or filling a client order which has been booked. 2) RBC Dominion Securities is the only firm which clears the trades of the independents. 3) I am sure that $50K is the minimum. Talk to Patrica Johnston of the TSE, who handles new COT accounts, 416-947-4700. I think if $50K is a problem you may have a difficult time making a living at trading. This is not an easy way to make a living and it will take a couple of years before you "learn the ropes". Dave

To: notredame who wrote (890)	3/18/1998 7:10:00 PM
From: Porter Davis	Read Replies (3) \| Respond to of 1598

>>Porter, I imagine you must be ready to retire now with BLD Chew on this...in the last two days I have lost $39,000 in Ballard. I always have avoided mentioning specific figures, but I can't let this comment go. I would imagine that about $10K was due to bad decisions, and the rest came from having to take the other side of order flow and not being able to hedge. I mean, how the hell can you hedge $1.00 puts on a $185 stock that moves 20 bucks a day? If this job were as easy as all you seem to think, the place would be so crowded you couldn't move. On the upside, I can still go to work tomorrow, which is really the only thing that matters... Happy trading. Porter