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I suggest you read Bulkowski's "Encyclopedia of Chart Patterns" (pp. 362-373) to get one perspective on the different types of gaps and their various performance characteristics.

Good advice above. I would probably not do it. If I did, I would be sure that this is discretionary money this friend could afford to lose. If that's the case, 20% would be the norm; 10% might be a friends and family introductory rate...

As for Elder, I scanned (but didn't read cover to cover) "Trading for a Living." I wouldn't steer you away from it, but I got a lot more out of "Trade Your Way to Financial Freedom" (despite the hokey title) and "High Probability Trading" -- as both of these books cover just about all the bases...

I just recently got a very light and comfy Steelcase Think; you should probably look at that model as well as the more deluxe Steelcase Leap before you make a final decision.

I thought you might want to check out an alternative approach. Yes it's in Pittsburgh and it's full-time for 5 consecutive semesters too. As intensive as this program is, you might as well be locked in a basement somewhere -- but Pittsburgh is inexpensive if you are open to relocating.

You might want to check out Carnegie Mellon's MS in Computational Finance http://business.tepper.cmu.edu/default.aspx?id=142109

The book recommendations below are books I have recently read and are loosely grouped into categories, with similarities in each group. Each book has two ratings -- based on a 10 point scale -- my (highly subjective) assessment of value for a beginning trader followed by my assessment for an...

Ditto on scanning the new 52WH list, such as at http://www2.barchart.com/high.asp?=&sort=7&what=ALL&force=high%2easp

I agree with the above as well as the increased risk of burnout too. Making the transition from doing things instinctively to being able to decribe those instincts in terms of patterns, rules, etc. is the big step you will have to make. I suggest developing a detailed log of each trade...

You might want to upgrade your RAM to 1 GB or at least 512 MB. I have a Dual Core 1.83 with 2 GB of RAM and it is sometimes sluggish.

Same problem here. It seems to be a function of the number of intraday charts I have open as well as the width of the "Chart" column for each symbol. You might want to play around with varying the size of the Chart snapshot.

6. Focus 20% of my time on money management and position sizing research/analysis and 80% of my time on developing mechanical systems. ...as opposed to learning by experience with a discretionary trading approach and figuring out the money management and position sizing pieces only after a...

You might want to steer clear of long positions for anything on this list: http://www.buyins.net/tools/short_list.php?dys=%3E12&sort=symbol&order=0&name=NakedShortListasof20060803StockswImminentBuyin

Nice call indeed. Even with all the blood on my screen, given today's volatility, I wouldn't be surprised if the indices still manage to close in positive territory.

Looks like, after today, I will be down to double digit gains, after a great start to the year. In addition to some risk management issues I need to address, I suspect I need to spend more time on the sidelines waiting for stronger signals...

This message has been kicking around in the media for the past few days. As for seasonality, I have some belief, but most of all I believe this year would have been a great one to sell in May and go away...

A second vote for Grant and "Trading Risk." Don't worry about the math: there really isn't as much as you'd expect and it doesn't exceed what you probably already know if you have a working knowledge of statistics.

First trade: 23 -- lost money on some farm equipment company (Internatinal Harvester? Allis Chalmers?) that I thought had been oversold First intra-day trading: 38 -- went crazy buying YHOO puts on 8/31/98 as Dow was falling a record 513 points First trading full-time for a living: 44

Monster Lo-Carb to kick off the day and Diet A&W Root Beer and/or water thereafter

Citi's downgrade takes some of the risk out...but this is still a risky hold. I don't think we will see much if any impact on the A-B distribution deal in this quarter and there is the possibility that the transition could cause some sales hiccoughs. Still, May 1-9 of 2006 was 130% of the...