Recent content by repoman888

My WORST day was when I MADE 120k during the crazy lehman week. I SHOULD have made 5x that, but I didn't have the confidence to size appropriately and flip my position once I exited. My BEST day was when I LOST 25k on a black box programming error that could have been 10x worse. I completely...

Hah, even IBKR.

I'd try eliminating the "daily goal" It's a comfort blanket you don't need. My daily goal is to make sure I participate with appropriate position sizes in the best risk/reward trades of that day. Everything seems to take care of itself. And whenever I stray from that, the market is...

Getting rid of the PNL is one of the best things I've ever done. I found that on up days I became more conservative to "protect profits" and on down days, I tend to be too aggressive to "make it back". I find profit "targets" function the same way. They might lead you to force trades in order...

This was my experience with a similar dilemma. Turned 21 in 2000, started trading prop. Made about the same as you 1st year. It was tough, though. trading stock market 8:30-3:00 then busting over to class from 3:30-6:30 every day, trying to listen while my...

No self-respecting trader would settle on just one place. He must have an appropriate residence for each season. spring: New York, people emerge from the cold ready to live. summer: PIck any of those postcard Swiss towns by a lake. One should always check up on the bankers face to face as...

There's nothing with being level-headed in non-trading situations that are stressful to most people. But when you "check you emotions at the door" don't lose the claim slip. I find taking regular, scheduled vacations helps keep me balanced (or close enough, I like staying a little imbalanced)...

I always find it interesting that people get "mad" at losing trades. I curse when I don't do enough size on my winners. When 5K should have been 15K I am ten times angrier than -5K. We are all wrong at times and lose money, but good risk control keeps that small. But to be right and not make as...

Just joking there buddy. I am well aware of their manufacturing prowess and the influence their exports have in the U.S. and throughout the world.

So you are saying that the Chinese courts fairly enforce IP infringement of one local firm v. another local firm? And by fair, I mean without corruption or party/state influence.

The only thing that would really scare me is if China bit the bullet and got serious about intellectual property law. Right now all they do is make stuff cheaper and crappier than it is made elsewhere. If they ever gave their domestic firms sufficient incentive to innovate (combined with...

The dumbest things I've done are all related to my most profitable trades. I didn't put on as much size as I should have. Proper risk control should take care of any mistakes on losses(aside from keystoke). Knowing I should have made 40K on a trade instead of 4K on those rare oppotunities when...