Speaking of steaks, my wife picked up 2 kilos (4,4 pounds) of trimmed unsliced file mignon and tenderloin at the grocery store for US $23, on sale. One big piece that I cut into several steaks. Nice quality too.. Too bad ribeye steaks are hard to find here. I like those too.
As long as position sizing was mentioned, my rule of thumb for OPM is 1 NQ contract per $2500 on the account. That's considering any trade is given generally no more than 8-10 ticks heat (aka stop-loss). That equals to approximately 2% max risk per trade. Usually more aggressive with my own money, cause it's my own and I care less of having nicely looking stats there, so just use it as effectively as I can (IMO there's less risk to trade smaller sum on max leverage than keep larger sum on the trading account).
Hey, great to see you man! I was fortunate to have been gifted a nice quanity of physical gold-( which I am not allowed to sell)-- so I hope my projection doesn't come true but it is what it is. Hope all is well, surf.
Hi jack, You are guessing Marketsurfer has 10 YG short, therefore i think you need to multiply the $698 loss in gold by 10. I dont have closing price for YG, but the closing price of NYMEX GC was 1407 which would mean the unrealised loss in gold would be much bigger than -$6980, assuming your guess that he is short 10 contracts is correct.
marketsurfer, I bet people are taking the opposite trade of what you do. Keep posting!! Your gold call is very Nostradamus-like. 50/50 chance. Given your track record, more like 10/90. You should consider getting a job in the MSM. Do you look and act a little like Jim Kramer, by any chance?