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You missed the point. Every disciplined strategy/plan works at some point and then doesn't. After some time, it does again. Markets are just a mechanism which cycles participants and measures human adaptability. Most people are too stubborn to change and lose everything because as they...

the baby boomers.

i think i read that somewhere in college. "will never fail" sounds like famous last words

Well my point was tangent, but if you picked any level on the dow jones or s&p in the history of american capital markets, and dollar cost averaged monthly unmargined for 40+ years you will have always made money and big. But that isn't trading. It's investing

No edge persists continuously without pause, at least in short term trading. This is why you have people who argue that T/A and trendfollowing isn't an edge because you can always find a time when they won't work. Everything works at some point until it doesn't, even the most ridiculous...

The markets are like musical chairs. Any strategy which works for a period will stop working for a period. Nothing persists indefinitely, it comes in fashion and then goes out of fashion and back in fashion. Some people say markets always change.. that's true and false. Markets cycle price...

That whatever's working now won't always. That every moment in life is a choice and that preconceived ideas will ultimately fail you.

this guy likes ANYTHING money related

it was 2008. i averaged down long $14mm financials, reits that day, i was down 350k at one point, got a call from RM cos i was down to my last 50k. 5 minutes later, it reversed 1000 dow points. i made 2 milion dollars in one day. this is nothing compared to some other stories, but thought...

Hi, I am not sure if this has been discussed previously and have done a search and could not find anything. Has anyone had experience using certain prescribed medication while trading and had any positive or negative effects in your cognitive abilities to make decisions? In particular are...

a bot can't predict natural disasters and terrorism. when bots are programmed to assume that these events are outliers and when they do happen, their human developers always override and behave irrationally

markets never achieve full efficiency because of overleveraging and greed and black swan events.

This has nothing to do with hard work and intelligence. Wall St had plenty of that in the past. We live in an era where things are ENGINEERED. hence, the influx of engineers downtown

The new generation http://vimeo.com/42209600 "and in their mouths is where all their balls meet"

Started work again downtown recently, hadn't been here in 4 years or so. Has anyone in NY noticed the HUGE influx of nerd culture down here from traders, to analysts, to PM's. Go to a local bar off Wall, they're ordering cosmo's and fruity cocktails. Amazing how so many pussies could be...

you have as much chance to be a millionaire daytrader as a starting point guard for the NY Knicks!

Do you or have you played competitive sports? Are you a brawler? Do you seek confrontation and debate? If not, don't bother. Your engineering skills will be relegated to coding algos for a financial firm at 100 hours/week and you will see a relatively crappy salary cos your H1-B peers are...

sub-pennied out of 500 shares? Puleeeze... that size is a speck of dust. try using automated sweep & cancels or better yet, hire a trader to trade for you. We live in a world where people expect things to be served on a platter. Put up some $, develop a good execution algo. Edge costs $...

So this guy routes reg NMS and sends market orders. Ugh.. Find a broker which sweeps limit orders across venues or build an algo which does that. Have broker accounts with sigma x, liquidnet. You will very easily get out of 500 shares on a penny or two from the last print. That you're not...

Markets especially NYSE QUOTE have always been illiquid on the open and getting worse because NYSE represents only 20% of total shares exchanged. The author of this article obviously is years behind in his technology as there are sophisticated entry and routing to other venues available to...