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Best monetary advice I've read on this forum since I can remember. Good post Banjo. Regards, Mike

Agreed. KISS works in this business. Unfortunately, the emotional mind is very complicated. I have a PhD in Electrical Engineering w/ some emphasis in solid state physics (a branch of physics where quantum physics meets the road so to speak). From personal attempts and failures at using...

I still relatively young <30. But given my experiences, it is best not to discuss finances with friends and family in too much detail. I answer most questions w/ ok, I'm fine. Some things are better left unspoken. Look at it this way - your career/financial choices are your choices. If you...

Okay, I follow the diamonds and if I HAD TO I would be putting my money on a test at 107. Why, because I think there are a lot of shorts that are going to get stopped out between 106 and 107 and then the potential sellers will start selling at 107. Today's range was a minor R test and break...

I highly recommend against this using this advice from the onset. Entering and exiting costs lots of money - avoid it until you understand price action and volume flow. Your operating costs are going to be overwhelming trading more than 20k shares a day (which is waaay to much per day anyway)...

~50% per annum is ~4% per month which is exceptionally good considering 5% MaxDD (~ = approx). As a client I would very satisfied with that arrangement given a track record of good risk control, preferably for greater than 2 years. My only contention would be to waive the management fee entirely...

I've heard this quote before on this site: "Statistical abberations are the not the exception - they are the norm." I just cannot get my mind around the fixed ratio approach... every trade is different IMO - there is never the perfect setup with a reliable outcome prediction that will...

8% per month... 25% incentive? You're dreaming. I'm still laughing at the possibilty of someone who can produce greater than 8%/month return and only take 25%. Why on earth would they want to manage OPM?

I really agree with this. You will fuck yourself up psychologically by trying to make a certain amount per day when starting out. The real learning takes place in always exercising fiscal discipline - getting stronger through repetition. Good trading has nothing to do with a monetary goal IMO...

I've heard the name Magee being thrown around in a prior discussion - can anyone recommend a book by this guy and if so what is the bulk of the subject matter?

Interesting.. What types of habits/experiences are you referring to? I am a small time poker player. I basically donate money playing poker online but do quite well when playing with people I can watch - I guess I do not have the ability to remember betting patterns when the players at the...

Jim, Your comments got me thinking... In my execution/order logs, ARCA and BRUT orders are always "Confirmed". They are sent, stay in a "pending" state for 1-3 seconds and then become "confirmed" (I assume by the ECN). NITE orders are different however, they always stay in the "pending"...

Again it appears we have a halt... Still short here - talk about a falling knife:)

It wasn't that bad. I thought it was OK. You can get it free here: http://www.trading-naked.com/Articles_and_Reprints.htm I've definetely read much much worse...

I don't think the rules of the exchange exceedingly matter in certain cases. It is usually the software that sends the stop order based upon combinations of NBBO, last trade, etc.. Also, I checked T&S from various sources and they match the chart provided. The fact is I made this trade under...

Last night I read through certain parts of "The Disciplined Trader" again. Great book, I will often re-read certain sections to take in things I may have missed. Towards the end of one of the chapters I read a line that made me curious - especially in relation to the press-your-winners ideas...

I've got an email into my firm. Currently, they cannot say whether a NITE stop is triggered via best bid or via last trade. They are going to let me know soon. If it is triggered by Best Bid then I can understand a "fake" bid triggering the stop and hence there being no sale (still kind of funky...

Because they think they know something you don't, or vice versa. In terms of price patterns - whether you believe in them or not - certain behaviors do repeat themselves consistently. The market has moods: upbeat, moody(erratic), depressed, panicky, excited, annoyed etc. These moods are...

I'll have to call them up on Monday. I'm pretty sure it is last trade, but I could be wrong.

No. Tradestream Pro.