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The one I traded with had a 50% success rate with a number of traders into 7 figures. They hired smart and trained hard. They made money through commission, desk fees, and splits. It was well worth their while to invest in smart people b/c if they were successful they tended to stick around...

Brings back memories. I used to trade just about every stock on that list. SDLI used to cut through resistance like a hot knife going through warm butter. I made a load on that one and JNPR, CIEN, JDSU GLW BRCM, QCOM, and others I can't recall. Ahhh....for the go-go days again!

Understanding and mastering control of your psychology. I would highly recommend reading, "Trading in the Zone," by Mark Douglas. Once you complete that I would recommend some daily ritual to prepare yourself mentally for day. I use meditation. Another book you may find interesting and...

Friggin Hilarious! :D

True, but only by a fractional amount - i.e. the fractional reserve system. What most people don't understand is $1 can be lent at a fraction over and over, thereby creating leverage in the system. Example.....some guy deposits a dollar. The bank can turn around and lend 90 cents (10%...

Trading for a living is very stressful. It's even more stressful when you are trading OPM. To survive in the business you need to have good stress management skills, especially as you age because it's certainly a young man's sport. I suppose getting chewed out by "the man" is pretty...

To all who are struggling with the rising costs of health care insurance look into enrolling at your local community college and getting on their group health plan. My local college really beefed up their plan since Obamacare went into effect. I'm currently paying $233 per month for very good...

He's likely right. Mother in law just bought a condo and she was out bid on a few and raise her bid to get the one she got. Buyers are coming back into the market b/c prices are so low. She paid 63k for a condo that sold for 140k a few years ago.

Measuring volatility over a period of time is the best way to catch the early part of a trend. As volatility drops the trends but you have to have a reference point, which is why you need to collect data and do some number crunching.

Redistribution of wealth in tough economic times isn't such a bad thing because not doing that would make things worse but unfortunately, when things improve -- they eventually will -- redistribution will remain intact. There's always going to be a percentage of the population who will have...

It fosters competition and the drive to win.

I've been stuck at the limit on the wrong side of the market and it's just a helpless feeling. If you're on the right side life is good :)

OT, you meant long beans right? No rain = low supply = higher price. I had a similar trade this past summer on Corn but just about every food commodity was heading higher so there was no brilliance there :)

You don't need to label yourself as a sociopath but you do need that killer instinct. One trade I pay very close attention to is a move below/above a recent low/high that reverses. The move takes out stops and I enter the reversal with a winner. That's a killer instinct trade. Watch a few...

Ahhh...the good old Duke. He was a little before my time. I grew up watching Steven Seagal and Chuck Norris, which sparked my interest in the martial arts. Practicing MA is one of the best things I've ever done. Perhaps a quick trip over to NFLX to see if they got any of The Duke's films...

Why so disgruntled? Situations like this provide for pretty good trading, imo. It's the absence of news that leads to a dead, narrow range, barely tradeable market. Today was great! Who cares what's happening in DC. Just trade what the market gives you.

Spoken like a true trading addict. Those long weekends are killers, eh? What other job makes you look forward to Mondays than Fridays. Only one I can think of. Trading On and Trade Smart!

Absolutely agree with the screen time. A pilot doesn't get his license until he has completed his hours of "screen time." Same goes for an Attorney, Doctor, or any professional with an advanced education. You need to sit in front of a computer for a minimum of 1-year, everyday, just watching...

You won't find the answer to your questions on Wiki or anywhere else on the internet as trading is much more an art than a science. Bollinger Bands are great tools IF you know how to use them. We can make a blanket statement about every indicator at our disposal, which includes my favorite...

That's funny. I had the opposite experience the time I took a trip down south. Nothing but grits, grits, grits. Makes me think about the movie, "My Counsin Vinnie." Good flick. Really nice folks down south but I always got the feeling they were just interested in us Yankees visiting as the...