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yes, that is a good point...You do not want to passively take losses, like watching the market run towards your stop and then allowing it to hit...Like you said, if the entry conditions fail get out...But, that is also the advantage of trading multiple contracts, you can amend the get out to...

Max Adverse Excursion is probably one of the better stats out there and I think it is worth the effort...Getting beyond the "noise"range of both one's one trading style and the markets, I think, is the key to finding the bigger winners... Also, by trying to simply cut the loss threshold down...

In recent years, the sp/es has become a popular arb for the locals and other pro trading groups...

yes, I talked with them a few years ago about their prop trading...I remember reading about them in "Trading Chicago Style" by Weintraub...They seemed to have a good reputation, but I never really pursued anything with them

But....each day that we plunge lower, each quarter that all of the retail public get their statements and notice a decline, instead of an increase in portfolio balances, each day another WCOM, XRX, etc blows up and re-states earnings...each and every time this takes place another massive...

yes, that is right...just your p/l, but I am pretty certain that there are different rules for active stock daytraders as well, but I don't happen to be a stock trader, so I do not know those rules...futures are a much less cumbersome project for tax purposes

60/40 split on futures vs bracketed tax rates on all equity trades..Since Bush did the adjustment on the taxes, I cannot off the top of my head do the "capped out" tax calculation on futures, but at one time it was capped out at 28%, nowadays I would imagine it is closer to 26%...Maybe that is...

Maybe, but all I know is Greenspan said irrational exuberance in Dec, 1996 and the market did not peak until March, 2000...So, if the symmetry truly is symmetrical, we might have another 2-3 years

yes, this is a major part of the problem...At what time in the history of financial markets did we have the following combinations: a.) stocks that are returning negative double digit returns year over year, going on 3 years; AND b.) t-bills and other money market instruments returning...

Well, that is the argument that I have heard for a few years, but here is the thing about the "cash" that is kinda sketchy...In my opinion, the real "squeeze" in this market now is that the Fed and the powers that be, are basically forcing investors to put money to work in the market, at some...

Dustin: regarding the premium to fair value question...I am not certain as to how, what or why this might seem to balance out, but what I am constantly watching is a combination of tick, tiki and dow levels and if/how "they" defend price off of key support levels...There is absolutely no...

I am trying to place the Half Shell...If I am thinking correctly, you are talking about a place that was across the street from the Barnes and Nobles parking lot just west of the intersection of Clark, Broadway & Diversey...Personally, I never made it over there although if I am thinking of the...

lol, the calamari...yes, very good stuff...also liked the steak with blue cheese...good stuff...Pompeii, yep that too...and Philly's Best gets my vote too...at least the guy who makes the cheesesteaks actually knows how the hell to make a true cheese steak

yes, excellent point...I think that if the mass populus were to think of stocks in terms of vehicles for wealth accumulation for corporate insiders, they would stop being such passive and apathetic investors in "long term" growth...The fact that the stocks are issued and allocated in chunks of...

I think maybe this term originated in an era prior to derivatives...Nowadays with all the hedging going on who the heck knows the true exposure of anyone to any specific event, etc...many people have pointed out the flaws of labelling this game as zero sum, mainly because it assumes that buyers...

I think Cashin is blowing smoke with this comment...From what I can see, there are more buy/sell programs now than ever before and that has dramatically altered the trading landscape...Markets have become hostage to these massive institutional programs like never before and run straight up and...

Neutron: you must have gone to the same catholic grade school I did...I remember back in those days, we had to all form a single file line prior to lunch and if one guy screwed up the prayer, we had to all do it again...On more than a few occassions, our lunch time was cut from 30 minutes to...

I noticed that you have your performance results prior to launching your CTA publicly...You mention that you are using a MER of about 25%...Were you using the same MER prior to managing public money?

And basically, at its core, this debate is discretionary vs systematic trading...Who is right, who is wrong...no one...but for some reason the second you mention you scale into a trade, it is like a pack of wild dogs going after raw meat, they all start barking at the same time...so, might as...

Erie Cafe, about 5 years ago, had lower prices, more subdued atmosphere and was not yet the "hotspot" it has become...Nowadays, all the politicians, lawyers, traders, and other hotshots like to make the place their home... Mr Beef isn't bad, I still like Portillo's the best, even if it is a...