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For me its the only way to go, be a brick layer. A brick layer isnt a fancy guy, he does the same thing over and over. I think that a trader using the jack of all trades, master of none approach tends to blow out faster and is probably someone in the camp of those addicted to the rush of being...

The size issue is one that I am currently having some positive experience with, but it certainly changed what I do. In our money managment program we execute in the area of 100 SP, and Nasdaq contracts on a trade. When I was trading my own account with 5 lots I had much less to think about as...

I think that most Specialist firms make something around 90% a year on their capital. They seem to have a pretty good edge (that they pay about $1million to have), and are happy with that. Brandon

Historically we are still over valued, and the VIX is reaching relative lows, but look at it on a very long term chart (years). It's mean reverting and should continue lower over time. Also, the economy and the stock market are not the same thing, which is probably the most important thing to...

The best patterns are the ones you know. I think that a trader is best served to learn a few patterns very well, like picking a major in college. You have many to choose from, but I'd stay to the ones that have been around forever and offer good R/R such as bullflags and bearflags. Brandon

I think the biggest lesson I had to learn was that trading is not always exciting, that its a job and sometimes it can be damn boring as I wait for the proper setups (according to my system) to present themselves. I lost a lot of money before I picked that one up. Brandon

You wont beat anything, but my friend and I went to a local casino a few years ago and played craps, I bet pass he bet dont pass. It was boring as hell but they comped us well and it didnt end up costing much. Brandon

the best way to make $5000 a moth is to take $1.2 million and put it in a CD. Brandon

"Shortboy, a Web site operated by short-seller Bill Ginsberg, boasts 200 paid subscribers whose short activities run the gamut. Mr. Ginsberg says a theoretical portfolio based on the trades of his subscribers would be up more than 17% this year, compared to a drop of more than 19% for the...

Texas Instruments (TXN): Merril issues cautious comments on the stock going forward. The Semiconductor sector has been a market leader to the UPSIDE for over a week even as the market got hit with strong selling. Look for buying opportunities in TXN. Brandon

I always have an excit strategy in place, that might be the next class I decide to do here. As a general rule my targets will be prior support resistence, moving averages etc. I always will also be following the tape and if the circus comes to town I will without exception sell peanuts. Brandon

I had some terrible discipline this week and was missing stuff left and right, the short was one I did miss. Brandon

If you are interested in trading the bonds and maybe are a night owl (or in Europe) you should look at the Bund which trades on Eurex. It trades electronically, very technically and is very deep (you can get 5000 stuff off if you wanted too) Brandon

8. A book such as "Dow 3,000" making the best seller list (i.e. The opposite of the infamous Dow 36,000). I think Pretchers book is the #1 business seller on Amazon. A broker clock is right twice a day. Brandon

I think that options expiration can not be counted out as a large factor in yesterdays sell off. Most of the puts that had volume were nicely in the money, and this will drive things lower too. I think it had much more to do with things than re-allignment. Brandon

The best way to learn is by going out there, trading and losing some money. Keep a diary of all of your trades and note what is working and what is not and why? If you do this you will learn more from it than you could from 1000 books. Brandon

I dont have any direct experience, just research but I thought that same. This summer the grain markets have been very good to traders, the biggest thing to get used to is less pullbacks. When you said that there will be daily opty and volaitlity jumps venues, I assume you would mean that the...

Thats not exactly true, look at a chart of the DOW in the 1970's, that was a bear market. Nothing moves, there is no volatility or liquidity. Bulls nor bears make much money, everyone just kinda has to grit their teeth and get through it. Brandon

[08:35] <Toni> 09:34:57 DAY TRADE UPDATE: XLNX (news) 5 min highs 18.85 [08:58] <Toni> 09:58:24 DAY TRADE UPDATE: XLNX next exitable event hitting 15 min 20 sma Gain on XLNX $1.13 on risk of $0.30. Not too bad. Congrats to anyone who took it. Brandon

Xilinx, Inc (XLNX): The company reported worse than expected earnings for the second quarter in a row. Over the last several weeks it has sold off sharply ahead of its earnings. Look for buying opportunities. Brandon