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Having gone from schizoid high volume prop futures spread day trader to position trader was tough. ET has helped in that regard.

I think that if you had a very good strategy and were willing to lease a Nymex membership (last one went for $425 per month) then NG or CL or ICE Brent or ICE GasOil (ICE no seat lease) then that might make sense if you again had a great strategy and execution. The issue as I see it is that...

Of all the market technicians, Pete Steidelmeyer (Market Profile) left the most indelible impression on me. The concept of time, control areas, and the market's acceptance or rejection of a new price valuation was (and still is) a very powerful influence on the way I analyze market behavior...

The headhunters in Houston and Singapore are searching high and low for physical Distillate Traders right now. That speaks volumes.

Ambition is different than reality. OPEC has lost it's war against North American crude production and we are literally awash in supply. Even Bahrain has found new supply a bit closer to home. There is so much supply that up to this point geopolitical flash points like Korea and Syria and a...

I have no idea where alot of these trading proverbs come from. Geez.

Just my own opinion - backtesting can be a fine screening tool to identify potentially worthwhile strategies. But over a couple decades of doing this I have seldom seen backtested results correlate sufficiently to live trading results (for my own satisfaction at least). In trading you are...

PTJ isn't completely forthright about the economic inequality thing. If you're a public school teacher, a union pipefitter, a hospital RN, a FedEx package loader - you're going to have some sort of 401K plan. Many of these companies doing share buybacks have fantastic plans to allow employees...

The Bahrain 80B barrel discovery announcement didn't seem to have that much effect given what we already know about North American production. To me, it still seems like an equity market correlator pretty much. But it is nice to get some range and some vol in the market - the last six months...

Going back to the OP's trading account - yep, at least half of that will go to her as part of the final Court divorce settlement. She'll petition the Court for funds out of it during the course of proceedings to cover her legal and household expenses in the meantime.

My late great Father always told me it was cheaper by the piece.

Well, if you do get married, and if you’re not happy and counseling isn’t helping - get divorced before you have any children. That’s much more survivable and orders of magnitude less traumatic than a divorce with children.

Actually, US marriage is more like a market. Since 1970, marriage rates have fallen precipitously - the current rate is less than half of the rate in 1970. The time frame 1970 is important because that is roughly the time period in which California codified "No Fault" divorce. Other states...

Or you can marry a rich American woman. Turn that shit around.

No, the speed of the bid/ask trading out on the screen was their demise. In the pit, if you're a local trader you buy bids, sell offers, and make markets. There was also an important clique of in-law floor brokers and ball players and such who constantly greased their family and friends with...

This is so completely true. You never really truly know. I dated my ex-wife for two years before we got married. Man, did things change once the ink on that marriage certificate dried.

Fifty Billion Dollar per year Industry: Family Court Legal Fees Note the section on why pre-nups might be worthless - especially if you have children or the wealthier spouse violates the pre-nup conditions like infidelity or substance abuse.

No, it's a hell of a lot worse than a trade. You can manage a trade position on a regulated exchange. You simply cannot "manage" or control a crazy greedy delusional spouse and the US Family Court System. It is designed to tear apart family relationships, alienate children against parent, and...

Let me provide a great example of how child support payments are a trader's biggest challenge. There are literally hundreds of former pit traders in Chicago who could not make the transition from the pit to the screen - and try as they might they couldn't get their child support reduced. Or by...

Well, in the United States of America, a significant portion (I would say a majority) of the politicians hold J.D. degrees (they're lawyers). The Judges are former lawyers that get elected or appointed. In a divorce settlement, the lawyers are allowed to get paid directly from your 401K and...