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I am not a good computer person, yet do a huge volume of trading, I hired a guy to write software to handle my applications and analytics, I find it a waste of time to learn another field, when I can contract the work out. So far, everything has run seamlessly. I'm so bad with computers...

I thought the old Baron de Rothschild was the one who said that first, concluding that one should sell when the trumpets were blowing. Jeff

Discipline is an integral part of an edge. Without discipline, you lose whatever edge you have. Jeff

What you want the market to do and what it does is two different things. Anyways, Highs and lows only exist in hindsight.

I didn't know what the highs and lows were, but a big job of locals is to see where the stops are and if a market is trading at a new high, to bid 1/4 cent higher to see what's up there, or conversely offer something 1/4 cent lower to see what's down there. However, I'd look at my trading cards...

When I was trading in the pit, if I didn't buy at least one contract at the high of the day and sell one at the low, I wasn't doing my job. Jeff

Who did you clear through at the CBOT? I used to clear through good old Goodman Manaster....those were the days. Jeff

How are you ahead 20 cents if you buy the stock at $10. That statement, and the thought process behind it is wrong. As for your probabilities, I'd revisit that as your numbers are 100% wrong. You fail to include scratches, stocks that don't move, slippage and mistakes. Perhaps you should...

Are you buying or selling the spread?

You could always move to Minneapolis and lease a seat at the MGEX for $70 a month. There are still some good trading opportunities in the pit there, and you will learn how to really trade. Plus, successful pit experience does give you good cred on a resume. Jeff

A 100 year chart might help show the immutable upward drift of the stock market. <a href="http://smg.photobucket.com/albums/v65/nokomisjeff/?action=view&current=100_year_dow_bull_bear_periods.jpg" target="_blank"><img...

You get warehouse receipts as delivery for the grains. Bring up your barge to the port of Duluth, hand them the receipt, and say, "fill it up."

As it should be. Trading is a solitary profession. Jeff

Although I'm not a gold bug, prudence dictates that I have a small stash of gold and other things just for emergencies.

I remember a kid in college who was quite bright, almost a genius. He loved to debate the most arcane points, and had an obsessive need to be right. However, he had a tendency to engage in flights of fantasy. At different times he told us that he flew a 737, was related to the Rockefellers...

One must look at Clews in his excellent "Fifty Years in Wall Street" on his commentary about panics. He talked about the old men hobbling down Wall Street with their canes to go buy stocks during the panics. We refer to guys like that as canes. Buffett is a cane, and his prescience demands...

If you read the Constitution, you will find that the president cannot appoint a vice president without congressional approval. If they both resigned, it would go to Pelosi.

In that case, Pelosi would be president. Now that's a scary thought. Jeff

People waste time making too many predictions. Instead of making those predictions, use your predictive powers, and trade the market off of them. After awhile, you'll be so big that Soros will be your water boy.

This is a great washout that has been needed for some time. Study the other panics to get a perspective on this one. All panics share many similar traits, this one being no different. This time around, there are a lot more whiners.