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I hire the gamut, both clerical positions, client liaison positions, IT positions as well as guys who want to learn how to trade. I understand that a lot of people who have made the sacrifice, effort and incurred the expense of going to college often exhibit this condescending attitude. Be like...

Things are no different today. Back then, everyone a few years older than me were walking around with degrees to get out of the draft. Everyone had a degree but me. NO ONE ever inquired if I had a degree or ever questioned me about it; if it worked to my detriment, it was unknown to me. Yes, I...

I was very fortunate, no doubt, which is why I say that anything I may have has been given to me.

Look, you have two choices if you aren't born into money. You can steal it, or you can gamble for it. If I were you I would throw myself 110% into learning how to trade.

And it was utterly primal, it was purely what you could do, not who your daddy was or where you went to college or what race or creed you crawled out of. It was the most primal life and death struggle in the modern world, and that was part of its appeal to me and still is and it doesn't matter...

I assume this question is put to me? No, I didn't. I got a job out of high school as a margin clerk for accounts that were"OK to trade short options," as the margin calculations for such accounts were not yet computerized(!) and we did it by hand. I cleared $178 every two weeks. I saved a few...

My advice is this : the road narrows. Survival in the markets is the first order of the day, above profit, especially when you are trading other people's money. You''re young and you want to make a success of this, and many market cycles in these markets will (hopefully) come and go while you...

Perry is a VERY low-key guy, a guy who isn't into promoting anything. He is a mensch and an extremely bright guy. He enjoys his life somewhere up in the quiet, green hills of Northern New England.

Well then if you are that close to finishing, you should finish. As an employer in the financial world, I can tell you ay resume I get that has a college listed I throw.I just can use them. I would much prefer to hire someone your age who has hitchiked across America.

Why are you going to college? You want to be a trader, right? As in making your living trading - not some profession where you need some professional designation (i.e. law, accounting, medicine). So why are you going to college? To be like everyone else, to be as uniform and crystallized in...

Politics...can only cloud a trader's thinking. I don't have room for that. I'm about making money and I don't care who's the King (or Queen) of the jungle.

This is a critical point -- that leveraged (ad short, even if 1x) ETFs have a mathematically-induced downward drift (due to regular rebalancing). If you truly wanted 2X over a period of time (beyond 1 day), you would buy the 1X SPY on margin, and pay the carry vs the dividends on it. Perhaps...

Agreed, the Dow is certainly not the best measure of the market-at-large. It does, however, have the benefit if giving you survivorship bias of you restrict your trading to those stocks in it. The old men who maintain it will get you out of the Woolworths, Intl Harversters, Manvilles, Xerox's...

Because market conditions are such that fresh faces should start shuffling in.

I've been around gamblers my entire life. Gamblers cannot leave the table when they are up. They live their lives chasing being up so that they can then quit, a winner. The few who actually do, again, get up, still can't leave. So look at the expression "Let your profits run..." under exactly...

The big TV Indexes - the Dow, are why Standard and Poors acquired Dow Jones Indexes.

I am not aware of the product or of how it performs its backtesting. I can tell you this however. Most historical backtests of portfolios tend to look great because of the generally very low correlation of components. But when the SHTF, all correlations go to 1. That 10% drawdown is going to...

Any trading strategy that ca be reduced to requiring, aside from the calculations, mere patience and nerve, is a winning strategy.

Fear has little to do with it.If he had no fear I'd tell him to go out and trade it balls out at the growth-optimal level -- and all else be damned. This is a different exercise than "having to make 2k/week," which is an entirely wrong approach to take to trading or endeavors involving risk, and...

First, what do you mean "focus on setups?" What is a "setup?" I have a suspicion it has something to do with trade entries, which is the last thing in the list of things you need to be looking at to try to do what you want to do. Secondly, "six-figure income" representing what percentage on...