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I envy you! You live in Denver, where an average white collar worker's starting salary is $100k a year, don't have a few thousand bucks left to start trading with, and have a system that gives you an almost infinitesimally positive expectancy in a backtest. That's where I want to be 20 years...

You forgot "Let's Roll!"

The only difference between up-days and down-days that I can see is that after a series of down-days the relative size of a 1-point move would be greater than before, i.e. stocks can't fall below zero. If you lift that restriction, I don't see any difference.

You must not forget that he is (according to you) a math wizard. Being a mathematician myself, I can assure you he is right: Since I can ask the question "Can anyone make consistent money in a zero-sum game?" it is obvious that the ability to make money in a zero-sum game is QUESTIONable...

If "mathematically impossible" means that the average joe has a probability of success <5%, then i might agree. Otherwise I don't see where there could be a truth hidden in that obviously false statement.

Exactly! If you sell a naked call now chances are the stock will be worth 50% more a month from now. Even an index could easily appreciate by 25% Now is not the time to be buying treasuries or selling calls. I'm not saying it's time to buy equities blindly either, we are probably only...

Selling naked puts is the fastest and safest way to make money in this market, but it is essential to know exactly what to sell, when to sell it, when to cover, and never take too much risk. (I personally don't open any positions that would leave me with a negative account balance if every...

IB's globex connection has improved significantly this year.

Some people (like John Bollinger) would say these are not stocks.

In my opinion there are 3 types of "an edge": 1. trade a lot and earn the spread 2. have a new idea 3. develop a gut feeling I believe most unsuccessful traders here are focussing on 3., which IMHO is the most difficult one to develop as well as to handle, but it is probably the most...

I have a question for those who voted in favor of "giving them justice". As Americans you should be experts on justice. What exactly does it mean? Does it require a fair trial? A trial at all? Is there a difference between justice and vengeance? If one Arab commits murder and you...

Through IB, Instinet orders are a little slower than island.

How true! I am not quite sure how to interpret this. Are you saying scalping can never be consistently profitable? Also, what do you mean the ability to have bigger winners than your losers is the only real edge? Are you telling me that you do just the same as all the monkeys (look at...

The Jews really are a very special people. You are right, it cannot be coincidence that they are always persecuted, yet they always prevail. How do you explain that if you don't believe in God... I am far from being an Arab-lover or Arab-hater, actually I never quite understood the concept...

May I ask why you prefer QQQ over NQ? I think that's what I'm missing and that's why I came up with my "conspiracy theory". To me, it looks like taking away fast executions from the QQQ would drive all the traders who rely on it to the eminis.

Pabst, what you are describing is exactly what I have experienced, and I have even arrived at the same conclusions: I had to come up with a system that gave me a very high hit ratio, and I have to put in hard stops on every trade so that I don't get stuck in a bad trade for psychological...

My approach to this is a little different: If I am at the point of decision (5 pt gain, possible 3 pt drawdown, possibly 5 more pts to go), I try to determine whether or not I would enter a new trade here. If not, I'm out. The only "exception" to this is if I would wait for a pullback of less...

You might want to not ask about "America" (this discussion belongs elsewhere, see Moderator's post above). But if you ask "What is happening to the index product market in America?", I think I can play devil's advocate once again (risking of course being called a traitor by those who prefer...

but I feel we are starting to get somewhere here. The mere fact that we can have an open discussion illustrates that we DO live in a country that values freedom of speech as well as freedom of opinion and where someone who happens to view things from a different angle is not always silenced by...

Well, no matter how the next week goes for you, and the weeks after that, I hope you will continue your journal so that we all can benefit from your experiences.