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Exactly 2-1/2 years after 9/11/01... coincidence?

Jesse Livermore blew out a few times, yet "Reminiscences of a Stock Operator" is still considered required reading in our profession.

There's a story about Paul Tudor Jones: even after he became hugely successful, with offices on three continents, he continued to rent the "dingy little office" where he got his start as a cotton trader, so as not to forget where he came from. Perhaps Buffett is doing the same with his little...

One of the lessons we learned back in the 1980s is that Japan doesn't play "fair". They play to win. Not that there's anything wrong with that. Just needs to be kept in mind. After all, the Redcoats didn't think the colonists were fighting "fair" during the American Revolution. Usually in...

"Win or lose, everybody gets what they want out of the market." My opinion, from reading his books: Niederhoffer wants to be the underdog who pulls off a brilliant win against all odds. I think he blew out when he did so that he could start all over again. He's a guy you would want to invest...

Self-taught. And yes, it took a long time and was expensive.

Actually they have a lot in common, in that they both sell premium as a core strategy.

Saxon, For my own trading style on the eminis, which is not high volume but fairly high frequency (generally a few dozen round trips per day) it's pretty important that I trade the most active contract. That's why I'm being so pedantic - I had to get these details straight when I was doing my...

Not by itself - I've seen legitimate sysadmin email full of typos and grammatical mistakes. But it looked suspicious enough that I examined the full email header, which showed that it was spoofed. And thus avoided the trap.

Yes, someone is getting clever. I got this one (below), and a friend got one targeted specifically for Lycos users. I'm sure that quite a few people are falling for these tricks. ---------------------------------------------------------- From: noreply@optonline.net To: [me] Sent: Wed...

I'll second dbphoenix's suggestion to hit the library first. While it's true that a single idea gleaned from a book may justify the purchase price, why not increase your reward:risk ratio by eliminating the purchase price entirely? Save your shekels for the books that are worth multiple reads...

Saxon, sometimes you just need to admit that you're wrong and move on. Getting the facts straight on details that affect your livelihood is not being a weenie. As has been stated by at least four people above, the roll date is the trading day preceding the second Friday of the expiration...

I figure the computer makes less mistakes than I would. :) Anyway, I don't let it run unattended. Like any boss, I watch it closely to keep it honest.

Not the best for someone just starting out with automated trading? Who would you recommend instead? As Nitro said, the API is free and well documented. I don't know of any futures brokers other than IB who meet those criteria. Most don't have any API whatsoever, and the ones that do charge a...

"In the seven years he has managed money, Cohen has averaged a compounded annual return of 45 percent, with only three losing months in the entire period - the worst a tiny 2 percent decline. These numbers, however, dramatically understate Cohen's trading talent. Cohen is so good that he is able...

rgelite, We might have to agree to disagree if only for lack of sufficient hours to continue the discussion! (Which is exactly the argument that Turok is making for regulations: at some point practical issues trump all others.) Perhaps I'll post more on it tomorrow. We certainly have...

rgelite, Coincidentally, I read the latter of the two articles you cited just before writing my earlier post. (I wanted some background on the ImClone/Waksal case, did a Yahoo search for "ImClone Sam", and that article was at the top of the list.) I agree that no one owes an honest answer...

Well, in this case it got the timing right, but the direction wrong...

rgelite, I'm a Libertarian and probably have similar beliefs to yours in general, but insider trading is breach of contract. Stockholders (and especially company founders) gain tremendous benefits from public equity markets - liquidity and easy access to capital among them. To get a rough...

Probably word got out that the jury was about to reach a verdict. The assumption was that a quick decision would mean "Not guilty".