Recent content by Fistfull

Schwab doesn't have a clue how things really work. The Uptick Rule won't do shit to reduce the losses on your portfolio Charles. Sorry to break it to you. What did big traders do when they wanted to fill big shorts back when we had the Up tick Rule? They had two options: a) Cheat. Just...

If trading interests you give it a shot. What Szeven says is true though, the vast majority of people fail at trading and your schooling won't help you at all. That said, Swift is a great opportunity for a regular guy to have a chance to become a successful trader with time as the only thing...

Heh, you wouldn't like my firm.

I agree, but I think it's important to distinguish between finding something great and then quitting it early because you've hit some arbitrary profit target and recognizing when the real juicy stuff is finished and calling it a day or taking a long break. Lets say you're making sweet trades...

You sure are snippy for someone asking for free advice. Believe what you want.

Surely this is true, but I'd say this is skewed by the older guys that didn't grow up with video games. It's not that traders are naturally attracted to video games exactly, but that they tend to have very high game intelligence. For a young person growing up in the electronic world video...

I feel like the only way to really get good at day trading is to view it as a game, and not to think too hard about the money. If you start thinking about the "real world" implications of the 10k you just made or lost you can really psyche yourself out. I think a high game intelligence...

Yes, I'm working for a prop firm. The training process where I was hired was very fair. They started out giving me simple stuff that was hard to loose or make money on, and as I prooved myself they started showing me the tricks of the trade bit by bit. I feel like I've always been well...

How did this guy not stop out his position in his last video posted two hours earlier when he was down 7500$ and his own fucking computer program was telling him to sell. That's some pretty terrible trading. Loosing money is one thing, but ignoring your own stops in a situation like this is...

The smart firms will hire a university drop out that's good at computer games before they'll take some finance grad. Most firms arn't smart though. The best trader I know is a university dropout that plays a lot of video games. Day traders tend to laugh at intellectuals. The fundamentals...

I'm under the impression that though oil prices are at record highs in US dollar terms, if you look at it in terms of most other currencies they are actually still under their highs back in 2006. Oil is till up of course, but it seem to me that this will affect the US more than Japan in...

Generally I'm pretty unimpressed by anyone that tries to define poverty as anything other than not having enough money for food, shelter, clothing and medical care. If someone can afford cable TV and a big truck they can afford all these things if they simply spent their money more responsibly...

If I could have picked two options I'd have taken Edge and Risk Management. You have to have both. One is nothing without the other.

It seems to me that trading and real estate have their own kinds of risk. You can make/loose a lot more money a lot faster trading than you can flipping real estate. In real estate though you have things like carrying costs and much lower liquidity. If you have a futures position you don't'...

I feel the advantages of working at a good office, rather than trading remotely, are huge. For example... If it's a good office the owner will be shelling out significant money for the best Internet connection money can buy. Forget cable Internet service. These sorts of connections will...