Search results

I don't get this. For the past few years the market has been one of the easiest markets to trade. Aside from a few corrections it's bascially been "just buy." Granted, for the day trader the intra-day ranges have been small, at times, due to the large gaps up but there has still be money to...

LOL! I've heard many customers say, "this would be a great business if it wasn't for the brokers." What a funny world we live in :D

Or gamble big and lose. You'll make the headlines that way too. I've seen a lot -- no, no, I mean A LOT of people get into the business of trading because they wanted fame. So many want to be the next Warren Buffett when Warren Buffett never intended to become Warren Buffett. He just started...

Most likely. There are really only 2 types of markets: Non-trending and volatile and trending and non-volatile. It's not possible to have something like a trending volatile market, although, some may call the 1999 ascent exactly that so I suppose the word "never" should never :D be used when...

Perfectly said.

Ditto that. I use them on the equity side but they are too high on the futures side. Never really had a problem with them, even the customer service which gets its share of complaints. My futures broker has the best customer service I've ever seen. I sure hope they don't go the MF Global...

"And this goes ESPECIALLY for prop firms." Not necessarily. If you find the right firm where you're trading their money they are expecially interested in you becoming profitable. It's the ones that make you put some capital into the game that are interested in draining your account...

Good post. I'd agree with all this and had a similar experience. It takes 16 hour days for a while. Think of it like becoming a doctor -- 16 hour days working as a resident. "money talks, it don't sing and dance and it dont walk....forever in blue jeans..." Good tune!

There's a big difference between probability and guessing and then there's the element of.....experience. For the vast majority trading is guessing I suppose. Buffett once said something to the effect of, "if you don't know what you're doing you don't belong in the business." Trading is a...

+1. each trade is an independent event. The fact that 7/10 trades with the same setup were successful does not mean the setup has a 70% success rate. Douglas talks about the "just knowing" factor and I couldn't agree with him more. There's definitely a scientific element to trading but the...

I've actually read this book and it's probably one of the best books on the book shelves but you need to have slightly beyond a working knowledge of Excel and Visual Basic to really benefit from the book. I would suggest reading a book on both topics before tackling this book, or perhaps even...

Why would you just "assume" that. There are actually people who live financially responsibily and still get fucked due to the housing market crash and the ensuing jobless market as a result. Obviously, it's hard for you to believe that people can actually do things right and still get screwed...

A day? How about 5 seconds. All they have to do is type "200000000000" on a keyboard and then hit the "create money" button.

It doesn't matter if your strategy is simple or complex. Every strategy will fail perodically. The real question you should be asking is whether or not the strategy is profitable <i>over time.</i> Donchian channels will lead you astray as well.

I think a PhD with an emphasis on trading is a good idea but I wouldn't do it in Economics. I would do it with a Mathematical Emphasis with courses/research in the area of Stochastic Calculus, Time Series Analysis, Computational Finance, and such. I have a Master's in Quantitative Finance and...

Then I don't believe you have an issue. If you get to the point when you do charge a performance fee be sure to get some legal advice. You also need to be sure you can charge a non-qualified investor a performance fee as a de minimis pool. I'm unsure of the answer to that but I know once you...

First, I'm not a securities attorney. I just have a lot of experience in this area. If you're only trading futures then you deal with the NFA, not the SEC. It's that cut and dry. If you decide at some point in the future you want to trade stocks then you have to pass the Series 63 exam...

This is not as cut and dry as many have posted thus far. As someone noted earlier, this falls under the jurisdiction of the NFA, not the SEC because the OP stated, they are trading strictly futures. Since it is a 2 member LLC you immediately fall under the 15 member requirement for...

It's not hard to find cases of Government Expenditures that didn't quite materialize as expected. I'm not sure any of them qualify as a failure of "socialism in action." One with the FBI... http://en.wikipedia.org/wiki/Virtual_Case_File

I would have to agree with EMG to a point. Trading does require an understanding of advanced mathematics and probability but it's definitely not rocket science. In fact, I once ran into a guy who wanted to make it as a trader who was, in fact, a rocket scientist who worked for a contractor who...