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  1. M

    I am a new trader with under $25,000 looking to day trade, what should I do to start?

    Seriously, do not even think about daytrading stocks untill you have at least 35k, better 40k. Your 25k should never be touched and is basically just buying power. Your risk capital is everything above 25k. So lets asume you put together 27k. A direct access setup would be around 800$/m with...
  2. M

    Good interview with Steve Cohen

    @JSOP: I think everyone knows this documentary and there's not much to say about it. Thing is, I'm very caryful with talking somebody down before I didn't try put myself in the other guys position. So I'm asking you: Would you be able to pull it off like Cohen? I mean, raising money...
  3. M

    Good interview with Steve Cohen

    I don't think so. There are clear rules which define insider trading and he managed to ship around them by using dummies who went to jail instead of him. Moraly questionable? Yes, but no bureaucracy or corruption. Second, you have to come up with a network of people who deliver the information...
  4. M

    Good interview with Steve Cohen

    No...not everybody. He might be an insider trader, but he's still not in jail so that's an accomplishment in itself
  5. M

    Unbelievable Method wasted on me.

    Hi man, happy for you that you came up with something after a couple of years of work. I hope it'll work out for you but I doubt it. Problem is: A chart is not the market. Its the last traded price only and it doesnt contain information about bids, offers and turnover. It also doesn't contain...
  6. M

    What risk management mistake did optionsellers.com fund manager do to blow up his fund and clients?

    Naked short gamma is for funds only. The "trade" is like this: You write deep OTM in anything that has premium. You have a very steady return and that attracts the muppets aka. High Networth Individuals and accredited Investors. You collect a couple of million and make a good living out of...
  7. M

    What risk management mistake did optionsellers.com fund manager do to blow up his fund and clients?

    Well, I have to say I did not know about the fund untill I've read the story, but when I did I wondered why those guys had investors at all. I know only the basic fundamentals of the energy market, but I think everyone who once touched the petro complex knows one thing for sure: Natural Gas has...
  8. M

    Tape reading?

    I know those kinds of people. They rather spend hours with designing a beautiful theory that will present itself to those young Padawan who open their heart up to the force than get their hands dirty with actual relevant research. I actually thought some of the answers to be legit but once the...
  9. M

    Tape reading?

    What the hell are you talking about?? You realise, that DOM stands for Depth Of Market? Whatever, I'm outa here. I don't care about converting some self proclaimed market messiah. When will you sell your first course??
  10. M

    Tape reading?

    There is no timeframe per se. Timeframe is an invention of chartists. The only thing that counts is finding the price that hurts most people when it's traded away from...and that is always the price with the most turnover. And it doesn't matter if you display that price on a weekly chart or...
  11. M

    Tape reading?

    Dude, what's non DOM volume?!?!! Every market information there is is contained in a Price ladder. Price, Time & Volume, I'm not sure how much more bottom up you can get. The "tape" is literally nothing more than how much traded at which price and when, no matter how much witchcraft you invent...
  12. M

    Tape reading?

    If you are focused and the market in question doesnt have a big tick range like corn or interest rates on a quiet day, you can do it with pen and paper. Besides that, anything that displays volume at price is sufficient. You can do it in Excel or in a charting platform. I mostly use the Volume...
  13. M

    Tape reading?

    I'm not really keen on ridiculing other peoples trading approaches, but this is probably to most complicated and arcane way to view market structure I've ever seen. Again, not intending to kick balls. If that works for you, fine, but if I was to start over again, I'd probably cut out all the...
  14. M

    Tape reading?

    It's called Time&Sales. It's available on every platform, just not every platform has the correct feed. Try watching it on IB...good luck. Just for everyones attention. If you are trying to read tape in stuff like the ES, you need some kind of size filters plus you have to have a consolidated...
  15. M

    Tape reading?

    Tape reading is definitely not dead. If I had the choice between the tape and a chart, I'd choose tape everytime. Charts don't give you enough information.
  16. M

    About Bitcoin

    In terms of risk, Refco and Man blow up is exactly the same since crypto exchanges are broker, exchange and clearing at the same time. If one of the departments blows up, your money is gone. The only difference is that you cannot hedge your account since none of the crypto exchanges is public...
  17. M

    About Bitcoin

    It's my consciousnes and it tells me that there are a lot of people who don't know anything about crypto but still discussing it like they do. And that's just tilting me to be honest. The funniest thing about it is the fact that people are hammering so called disadvantages were there are none...
  18. M

    About Bitcoin

    Lol...I really do not want to vouch for that piece of crap USDT but in all honesty it's the same mechanism every central bank in the world uses to create fiat out of thin air...and I would not necessarily call them more intransparent than lets say the central bank of India for example. And yes...
  19. M

    Cryptos are BULLSHIT... based upon nothing more than hope, greed, and stupidity

    I don't know weither I should be laughing or crying after reading that... Are you really saying that nobody is using it? Here you go: https://bitnodes.earn.com/nodes/live-map/ https://bitinfocharts.com/comparison/bitcoin-transactions.html http://bitcointicker.co/transactions/ Transaction costs...
  20. M

    Calling on all professional crypto traders...

    Simple. A company that violates the law on purpose or by accident is either a fraud or unprofessional. In both instances I would not trust them. A broker is more than a whimsy frontend with nicely colored buttons that say "buy" and "sell"
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