[ItalianFX]

Here is a new one:

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The CME is great, but it's kind of sad it's all going electronic and you can feel it on the floor. There's not as much energy as there used to be. The funny thing is I've only been here since 2005 and I can feel it. There are guys here that have been traders since the '70s. They're the ones that are having the hardest time adjusting.

I trade E-mini equity futures. S&P, Nasdaq, Dow, Russell, and Midcap. We look for imbalances between the cash market (the quotes you see on TV, like on friday when the dow fell 360 points) and the futures market. so for instance on friday about a half hour before dow cash closed it was trading down 290 some odd points, futures were down 400, so we bought e-mini dow futures trying to capitalize on that imbalance, and get out before the close. Worked out but not great, because cash market kept falling. But we were able to close the gap and got out with futures down 380, so we made 20 ticks.

Right now I work for a firm called Lin Group of Illinois. and he's slowly but surely moving us all to the computer screen. Which is nice because it means trading on the computer at home... you should see the system I have at home now! (3 24inch dell monitors) it's sweet. But the floor is a lot of fun. I was never in a fraternity at IUP, but I'd imagine that's how it is. lol.

Because of my job and SEC regulations, I can't trade stocks or forex on my own anymore. At least not directly. I can trade in our IRA's and 401Ks, but I can't trade for myself. So unfortunately I'm limited to mutual funds. (GOLD. Stick with gold for the next 3-5 years and you'll be a happy man) most of my money since I started working at least in my 401K has been in TGLDX (the Toqueville gold fund). I have an individual 401K account through fidelity, and that's also where my IRA is. The IRA is the "trading account" right now it's mostly filled with Short positions in banks. I missed the great move in C, but I rode it's tails down with my BAC and WM. I'm not allowed to own CME stock PERIOD. so that was a sad day for me, but I'll survive.

My goal is to trade with Lin Group for a few more years, and then officially go out on my own, with no backing. Once (God Willing) that happens I'll be able to trade anything I want, in any account I want.

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