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Can one person fund the entire master account and bear all the losses, while splitting any profits amongst several parties? Or does each account need to be individually funded?

Yes, in poker, that 99:1 will eventually turn itself all the way around in the long run. But all I can say in regards to individual trading is that such a thing just doesn't exist. Because in the end the entire market, the entire game, will change, and you can throw all your stats out the...

Yeah, and last you heard how many of the "top" poker players have gone out and started their own hedge funds and parlayed their millions into more millions? :) You can say that a good poker player will have a few big advantages over anyone other newbie trader, that being a likely larger...

Please don't ever try this with your own money.

The point being, it worked because you didn't put the trade on. Butterfly flaps its wings etc. "Stops and DD if any at discretion" kills it really -- on paper everyone has balls of stone. But you go ahead and trade it til it breaks.

Moderator, can we move the political chit-chat somewhere else? I wanna hear about mall traffic thanks.

Don't bother with books, sites. Sit down and just watch the tape. Keep doing what works, stop doing what doesn't -- figure out the reasons why afterwards.

And yes, if you're a trader who would move to Delaware to avoid state taxes, you obviously aren't very successful either.

Successful traders crying over paying a little more in taxes -- what the fuck else does your job provide for society?

Where the hell do you store a year's worth of food? Especially in a 1-bedroom manhattan apartment?

Dude, you put 25% of your account (100K worth) into ISRG puts the day of expiration after earnings? You are a wild man. Congrats and keep it up!

As I said I didn't want to speculate too much about this particular case, but obviously it wasn't just a typical postion gone awry for him. If it was just a one time outlier event, he would just dust himself off and get back in the ring, it would take time but any long-time veteran would know...

I totally agree with Landis . . . but why did this trader need to take such risks as to jeopardize his career, not to mention his life? If preservation of the ability to live and trade another day is what is keeping you out of the abyss, then you damn well better take all steps necessary to...

Can any of you honestly say how much money you've made and/or saved applying the Austrian school of thought to the management of your wealth? If the theory is "hitting the nail on its head" lately, how many times has it flattened your thumb during the Greenspan era? This time it's...

Remember Livermoore's modus operandi when it comes to "marketing" a stock for liquidation -- the real selling occurs on the way down, after prices seem extraordinarily "cheap" vs where they were just a few months ago. The bulk of the selling is done to the bargain-picking crowd, and they are...

Have you ever had a profitable year behind your belt? If not you will not be in good mental or financial shape to adapt to a new market (stocks vs futures). Everyone who starts always seeks a modest goal of "a few hundred a day". That's always a tipoff that you still have a very long road...

Yeah this is exactly my experience, the ads are the ones that usually show up on the top of the page but took up the entire page instead.

For intraday time frames, what is more fundamental than anticipating who needs to buy and who needs to sell? Forget the percentages people, in the long run "edges" are meant to be worn smooth over time. Why trade when you're just guessing you might have a 60/40 advantage, when there are...

I'll one up you: how many occupations are there in the world where you need absolutely no one else to earn a paycheck? Of course traders need other traders in aggregate ie, the market itself, but name another profession where you can say "fuck off" (and mean it) to each and every person you...

You have it completely upside down. Any fool can ride a runaway trend (ie tech bubble) once in his lifetime, the vast majority of traders/investors during that time were plain lucky. The longer the trader's time frame per trade/investment (not to be confused with longevity), the greater a...