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When optionsellers blew up, the clients not only lost 100% of their invested money but owe money to the broker as well. In other words, clients lost more than 100% of their money. The risk is unlimited...

Good point. No intelligent nerd is going to work for this suit ever after reading what happened and how he treated nerds who left the company.

Is this reasonable legal argument from an ex-employer? Which ex-employees will not use their past knowledge and experienced gained from a past employer for their future endeavours? This is not about stealing of physical property or source code or engineering design documents. It is about using...

I don't quite understand why you short weak individual stocks when indices go bullish. When indices are bullish, the general market sentiment is bullish. Why do you short weak individual stocks when market sentiment is bullish? Wouldn't probability of short succeeding be higher when indices are...

Sure, that's my preference too. My point is if my target is to make $1m from $20m, a passive approach will be preferred. If I am highly active and hardworking, I would aim for higher returns.

How much was his capital? using $1m capital to make $1m is very impressive. Using $20m capital to make $1m is mediocre.

Hi PJB1994, I am so sorry to hear about your losses caused by this rogue wave. Actually, rogue money manager is more accurate. What were the historical returns of this rogue manager like when you made the decision to invest? Did he set an impressive, enticing high investment return target to...

You made a good point. The price run in natural gas and oil took a few days and there were no big gaps in between. If it was a bad trade, the trader should be able to cut his losses and run to safety. I am guessing that James Cordier got killed because he wanted to run but could not because his...

All money managers are protected by the disclaimer "No guarantee that your investments can make you money. Markets are risky". He can claim to be hit by an unexpected black swan event. I think he will still be wearing his watch.

I don't understand why clients are suing the hedge fund. Why are clients suing the fund since the fund is already bankrupt? Even if clients win the case, they won't be able to extract money from a bankrupt entity.

James Cordier and Michael Gross were co-authors in this book "The Complete Guide to Option Selling". Obviously, they were experts on options selling. Their hedge fund specialises in options selling. A few days ago, James Cordier apologised on Youtube about blowing up his fund and his clients...

The CEO just blew up in options selling despite being an expert. I'm searching on internet how that can happen and stumbled onto this thread.

Pardon my ignorance. I don't trade natural gas. I am wondering why was it so difficult to get out of this trade. My understanding about futures is that there are different contracts for different months. Suppose the NG contract for X month expiry goes limit up, why can't the trader hedge his...

More discussion on this blow-up.

I sincerely want to hear both sides of the story. I asked a question and gave my view on the issue. Congratulations on your successful stock shorts. Good to hear that. It is an inspirational story on what can be done. Why not trade the S&P500 futures since you are trading S&P stocks?

hi schweiz, Congratulations on being a full-time trader. Extra commendation for being a day trader which I think is the hardest time-frame to trade. Salaried employees will always beat traders on earning a good living hands down on a risk-adjusted basis. The keyword is risk-adjusted. All...

Why are short squeezes more likely for Futures? There's no finite supply like number of shares for individual stocks. There's no finite limit to the number of contracts that can be opened in futures.

My experience is mainly with stocks. I know little about futures. I would like to check with the elitetraders here who have experience with both. For traders who want to trade more consistently for profits, would futures be a better instrument than stocks? With futures, one can go long with the...

I would like to ask the full-time elite traders here a question. How do you cope with a drawdown? For those who do part-time, they still have jobs who pay a stable income. For full-timers, that is going to be difficult psychologically. What about the gnawing feeling that maybe the edge is...

This is shocking. How did he keep his job for so long?