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It's only carnage if you're long. Cut your losses. But I, too, am surprised by the sharpness of the move. Wow!

Have no clue what the German guy said in German, but I've got a different question... Greentradertax says the German owes US tax on the income reported on his K-1. Well, what if he doesn't pay it? a) Germany extradites him, or b) Germany doesn't care, but the IRS will report his name to...

Good point, candletrader. In fact, if Mr. Scientist is making money but only having tiny little drawdowns, he could be making so much more money if he leveraged up and stomached the larger drawdowns. 25% per year with a 5% max drawdown is equivalent to 100% per year with a 20% drawdown at 4X...

Can you give us the context in which it was used? I believe an external series would be a time series other than the price of your tradeable. If you buy gold when the yield curve is inverted, then the slope of the yield curve would be your "external series". If you trade MSFT based on...

For years I've been having dreams where I can fly like Superman.

100%+ annual returns aren't very common. Make sure you have a Plan B.

What is w3/w6 oil blend? I've heard of wd30 and 3-in-1 oil, but I wouldn't want to eat them. The spinach & cheese omlet sounds good!

Print out your post, Flashboy. Someday you'll be a 50-lot trader and you'll come across your post and think back to your early days and the joy you found in that little $225 profit.

You're not kidding, Aaron, about the long term trend followers having problems. John Henry's results are up at his website www.jwh.com and June was down for every one of his programs. The losses ranged from –3.9% for the Dollar Program to –14.0% for the Original Investment Program...

Nice!

I thought there was an exchange imposed 250 contract limit per trade. How could someone do 50k contracts? Are the limits not enforced on Globex terminals or something? Or was the 50k contracts done in 250 lot chunks by an automated system? I don't get it.

Aha. Thanks, chinook. That rings a bell that premiums are only deductible against earned income. That makes the strategy of hiring your spouse double effective (and providing her and her family with deductible health coverage). Or forming an entity and paying yourself a salary (to turn cap...

Health insurance premiums are partially deductible, sometimes even 100% deductible if I recall correctly, at varying percentages over the next 10 years as different phase ins and phase outs of the tax laws occur. The deduction is right there on page 1 of your 1040. Line 30 for 2002. From...

Good point. And I'm not suggesting finding a profitable strategy might not take X years or an additional Y years to be able to even know a profitable strategy when you see one! And then you bring up a good point about when and if a strategy fails. But a person can trade for years and years...

Yep. You got it, Chinook. Next steps (depending on how aggressive you want to be taxwise): Hire your spouse. Provide her and her family with (Sch. C deductible) health insurance as an employee benefit. Open an IRA or 401k for her. Put some of her earnings into a spousal IRA for you...

I disagree that it takes X years to become profitable. I think it takes however long it takes to find/create/buy/steal/invent/learn a profitable trading system/strategy. Profits are created by profitable strategies. While it helps with execution and emotional control to have experience, these...

I'd agree it's a waste of time to try to figure it out when I could just tell you. Here's the answer: The savings on slippage and the speed of execution and reporting in the minis more than make up for the 5x commissions.

A CME membership only makes sense if you do above 10k round trips per month in CME products. Divide the cost of leasing a seat by the difference between member and non-member fees per contract to get this number.

Here's part of a post of Gordon Gekko's: <font class="quo"><blockquote><hr size="1">i recently bought a new computer and copied my old hard drive that has win xp pro on it. first of all, i'm good with computers. after my first attempt using norton ghost to clone the drive, when i tried to...

From the article it sounds like the pay, stress, and turnover is pretty high among SAC employees.