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Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: funk who wrote (3496)	1/22/1999 5:04:00 PM
From: Eric P	Read Replies (1) \| Respond to of 7382

To All: Funk's post from the #mbtrading help room brought a question to my head. "Is IMON an intraday short only?" Does MB Trading allow unrestricted short sales for daytrading purposes (i.e. close out by days end)? Obviously, this would not include recent IPO's etc. I'm simply referring to the bulk of the ordinary stocks that are not listed on a particular brokers "short list". The reason I ask is that the Short Sale section of the Nasdaq Traders Manual implies that unrestricted short sales for daytraders would be okay: "NASD Rule 11830 (formerly UPC Section 71) requires that any short sale for a customer or for a member's own account be delivered no later than the tenth business day following the settlement date. If delivery is not made, the member must close out the sale (cover the short) for cash or guaranteed delivery." This implies to me that a daytrader could short any highflying stock and close by the end of the day and not cause any problem for himself, his broker dealer or clearing firm. What is your take on this? And what is MB Tradings policy (i.e. what is "an intraday short"). I would appreciate any information anyone might have on this short sale issue. Thanks and good luck, -Eric

To: funk who wrote (3496)	1/22/1999 8:13:00 PM
From: funk	Respond to of 7382

Now that we all know how to get screen shots of our trading pages: I propose that more traders share what their trading page looks like. It would also be great if a few traders had the nerve to talk about some real life trades. I am tempted to discuss some of my trades as a way to both educate others, but more importantly to clarify for myself what some of these trades are teaching me. How about some screen shots? I am nothing special. Why should I be the only one to wear a heart on a sleeve? Let's GO !!! funk

To: funk who wrote (3496)	1/23/1999 12:25:00 PM
From: funk	Read Replies (4) \| Respond to of 7382

Every trade is a good trade. Even a bad trade. That's my theory. At this point in my trading there is almost no mystery, only observation and subsequent action, no guessing, no giant intellectual challenges. If I follow the system that I have cultured: I win. If I break my rules: I lose. It really is just that simple. There is no such thing as a bad trade. What we all call bad trades are truly the most important trades of our careers. Yup, it is much more enjoyable to learn from the trades that increase our account. The fact is, for anyone new to the game, there will be plenty of trades that take away from our buying power. It is essential, since the price has already been paid in dollars and in hurt pride as well, that as a trader we take as much from the experience as humanly possible. I do not believe a trader can even begin to scratch the surface of learning until they take full responsibility for each and every trade and the state of their account. Ideally as a system is created and assembled trade by trade and day by day, a trader should have no choice but to improve. A winning trade reinforces the desire to follow the system. A losing trade does the same. Every experience keeps pushing toward a stricter discipline. If some traders were willing to talk about real life experiences many could benefit. Every trade is a good trade. Even a bad trade. funk