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I'm a little skeptical of your motives (as are others here) seeing as you don't seem willing to reveal your trading style in detail. However I agree that in trading environments there is a lot of co-operation, not with everybody, some traders are islands. Those that do share, do so...

Are you for real? Yes the prosecution has a job ahead of it and I guess to take that point of view, how dare we say bad things about OJ! Skilling was the CEO of a firm whose balance sheet and revenues were mostly a fiction. A very well planned and disguised fiction. Hundreds of "off balance...

Skilling perpetrated gargantuan fraud at the expense of everyone including "little people" who really didn't have it to lose.

He was a protege of Soros. He went on to found and manage his own global macro hedge fund and had terrific performance for a few years. He blew up spectacularly on a wrong way bet on the Thai Baht in 1997. He now manages a much more modest amount of money and has written a couple of books...

Fair point Dark Horse, I've noticed that he dismisses the importance of share volume for example (I am speaking about stocks, not anything else here). Yet there is a huge weight of academic evidence supporting the price/volume/news effect on stocks. I've verified this myself and have stacks of...

Sort of like skydiving without going through the drill on the ground first. An option sure, but I wouldn't recommend it. Congratulations on your trading success (not being sarcastic, seriously)

And in fact, I recall that Taleb claims in "Fooled By Randomness" that Neiderhoffer said, no actually blurted out : "Any testable statement should be tested!" I can't tell you how many traders I've come across, some leaning over my trading screens and telling me how they see support and...

Dark Horse, you make a really interesting point and no doubt valid. Neiderhoffer and many others, however, claim that financial history is non-stationary. To borrow on one of his analogies, its as if the urn containing thousands of red and white marbles has an elf at the back, replacing the...

I recall that he persuaded Soros to let him bet big on tech stocks after sitting out the party for several years. His timing? The end of the year 1999! Which explains his and Soros mutual separation. My 2 cents on the common themes causing the great ones to fall are 1) hubris and 2) ever...

He was a mutual fund trader whose style is now defunct. He was quoted in a piece recently (New York Time or Businessweek, can't remember which) covering the whole Canary Capital scandal. Eliot Spitzer has blown this whole business apart. You have inspired me to go back and look at both...

Excellent post. I trade stocks, not the futures and I'm wondering if your statistics apply to the spy (S&P 500 ETF) or the qqq also. Intuitively I would think yes. You have inspired me to look into this, I'll post whatever I find (if the project does'nt end up being too cumbersome as...

I've tried to back-test this with the spy, qqq, and other etfs as well as with individual stocks and indexes I spent months trying to develop a strategy based on this well trodden idea but could not profitably implement it It could well be that my testing was flawed and that incorporating...

There are many threads related to this - do a search (see upper right corner of elite trader page for search function) Personally, I get a premium news package through redi+ that cost about $200 per month, but it is very good and aggregates news from many sources

I mean a Prime Broker type of environment (excluding prop shops)? The minimum dollars mentioned here are prohibitive for me. Also I'm fearful that the recent SEC ruling on bullets may be the death knell for the prop shop business model (on top of other adverse conditions lately). I need...

Is this effective immediately? I've heard some firms have pulled bullet software already (I think in anticipation rather than compliance)

Since I'm likely to be moving there soon I would have made the trip for the meeting (moving from NYC). Will catch it next time

Of course it's not. No argument there. While my experience has been different, yours is more cautionary and definitely worth thinking about. Reasonable people can disagree!

Lets make a distinction. As someone who has a top 10 MBA and a CFA designation, there is no question but that they do get you the interview in any financial area. So yes it is a good investment in life. Specifically for trading, prop or hedge fund, they help a little in my opinion, but not...

Bright's Dallas office is closed down. In fact I may be spending some time down there too and need a prop shop in Dallas. Anybody?

I see some excellent points made here. However I would disagree with the get an MBA and/or CFA designation. I have both and they helped me hugely in my previous corporate fixed income career, but now that I'm prop trading, they don't help nearly as much. The top guy in our shop is a Phd...