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I tried that, and now I'm divorced. Great advice.

And there it goes.....down 4 cents already.

Ah, the Obama win now makes this a tougher trade. And a lower US dollar won't help the shorts. Still, if US Equities tank from the fiscal cliff, this guy is going lower...maybe below $3.00.

Amazing how accurate Intrade was. Lesson: Never bet against the best gamblers.

That's one way of looking at it. The reason why 95% fail is simple: THEY DONT'T HAVE "IT". "IT": 1) intuition 2) guts 3) perseverance (thru the drawdowns) 4) instinct 5) patience Look, There's no way this game could ever be simple.

Strangely, I experienced exactly what CDCaveman wrote. It's only not bitter when you don't experience it.

I must agree, given his later professional accomplishments. But isn't it a bit odd that he never provided any details of how he knew what he was doing ? I mean he never demonstrated knowledge of any aspects or details of the coffee market....at all.

So gentlemen, was the venerable JP Morgan lucky or just skillful ? After all, the outcome of the first big trade is always important.

Copper up 4 cents today....basis Dec 2012. This guy continues to run with the US Equities markets !! Crazy.

Interestingly, I did modify it slightly. It's the simplest algo in the world.

Interesting comment. I remember when I had backtested the Donchian strategy a few years ago, it had an incredibly consistent equity curve upwards....even with the choppy S&P 500 emini contract. I wonder if that's no longer the case.

Scalping is harrowing to say the least. I did it once, and what a rush ! That being said: In the end it wasn't worth it. Today, this is done by HFT algos....and it works great....for them. No emotion in software !

So far.....Even split on Up/Down.

Tell that to Uncle Benny...he could give a s*it.

Sounds like everyone in the USA is collecting welfare then ? I'm not. I'm working my ass off trying to keep up with the "faux" inflation (copper > $3/lb, Gas > $4/gallon, etc) from QE2,3.

That's exactly the right course of action. We can't continue to postpone the correction needed to reverse all of these poor economic policy decisions of the past 8 years. No question Bush is guilty as well.

Exactly. And the market has already come down quite a bit past 3 weeks. Anything can happen.

He's likely long/short the futures contract and as he mentioned, he'll offset that position with a corresponding long put and/or short call if he is long futures or the reverse if he is short the futures.

I heard selling the weeklies was a good strat. What kind of stats is he showing ? His win percentage should be quite high.

That had to be agony-to-the-max. So Red Kite gets $20 million for every $100 million of net gains ? And $2 million for every $100 million invested win or lose ? Wow.