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Munis are raging?

Heh -- JWH has likely made more money over his career than all the members of ET combined will... That said, his performance has been suffering brutally, and I have yet to see anyone here posit that it might not be trendfollowing per se that's killing him, but his particular spin on the...

That is so not cool! :cool:

Nice trade, lachie. Hope you stuck with your plan...

:) Where's the thumbs up smiley when you need it?

Right -- it's the confidence that money won't buy you. And it is essential.

Why scale into losers rather than winners?

Correct, but you won't get that by handing your hard-earned money over to a vendor.

Best advice so far.

The past is no guide? Since when don't traders base future behavior on the success or failure of past behavior? Did I miss a memo?

A little advertising maybe, Don? I'm not quite willing to call bullshit on you here, but a look at that spread both fundamentally and technically pre-merger doesn't make me think long HLT short MAR was a do.

Kudos to those of you posting the Liz Claman pics. More of that! Liz has got to be the Sexiest Mom On Television

You could also read through this thread: http://elitetrader.com/vb/showthread.php?s=&threadid=92018 It's recent, has participation by current and former pairs traders, and Don Bright -- who runs a prop shop where a number of pairs traders seem to be doing well currently -- chimes in as...

Take it for what it's worth, but a friend of mine has been a stockbroker for over twenty years, has a substantial book of business, and has done well enough to enjoy a $2+ million dollar home in a ritzy Chicago suburb, and to contemplate retirement in his mid-40's. Not too long ago he and I...

My bullshit meter is blinking too.

Super. Cogent, incisive summary. *rolls eyes*

Spike trading had a bunch of guys trading futures using the pitchforks a couple of years ago, and Tim Morge was tied into it somehow. Not sure if any were making money. A buddy of mine, who knew more about the structure than I did, said it looked to him like a commission generator.

There wasn't that day either. There was a 7 tic spread...

Heh -- I'll vouch for that.

If the logical structure imposed by pairs trading gives you the confidence to trade, and you do so profitably, then it most certainly offers an advantage.