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I have spent hundreds of hours studying AL's concepts of price development and use many those concepts to earn my living. I also trade with a group of people who do the same. Any professional trader learns from any number of sources, my own have included Sperandeo, Cooper, Wyckoff, Williams...

Depends on the broker. With Dorman I just had to sign an affidavit that I was only trading my own money, and that was within an S Corp. I understand IB is stricter with regard to pro status. Alternatively, make enough money so that fees are immaterial.

Psychologist and trader Denise Shull of The Rethink Group has worked with many traders, including large institutional types. She also authored Market Mind Games which is an interesting read.

Yvan Byeajee has done some good work on the subject.

Two reasons anyone would would have a bad week no less a bad month: 1 Don't know how to trade 2 Inability to behave as a trader Solutions?....Test your strategy(s) until you KNOW you have an edge, create a viable trade plan around it and then observe without fail the rules of the strategy...

Coming from you, I'm flattered

ET lol

Dave's been at a long time and he's a good guy.

No point in engaging in a dialogue with a psychopathic fool.

:D

Yeah don't take that experimental drug, take this experimental drug :rolleyes:

:D

For stock trades, if you've requested and received traders status from the IRS, you can match losses against gains. If you do not have traders status, you can carry forward your losses at 3k per year max until the losses are absorbed. For futures trades you can file 1256 and get (currently)...

OK that would make sense.

Why should a trader understand where his target or projection comes from? Did you actually ask that?

This thread lol, another ET special.

There is no reason to fear the markets, respect yes fear no. Fear comes from such as fear of failure, lack of confidence in one's competence or inability to behave as needed or validity of trade plan or non-acceptance of the probabilistic nature of the markets. There is no way to know what will...