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After blowing up once already, he is DOWN 28% in a month? If I were down 28% in a month, I would hang it up and shut down until I figured out the fundamentals of risk management. Reckless, arrogant, pathetic: he who produced such returns, and the saps who gave him the money in the first place.

Easier said than done. We all think ourselves to be smart, and smart people (tend to like to think that they) don't make mistakes. But we do. Traders who do not accept this will one day lose it all.

It depends on what you mean by "period". I just completed a study of the VIX (from the early 1990s to the present). New 50 day highs and lows in the VIX tend to come in bunches (several new highs and lows in the ten and twenty day period), but after a ten-day period of no new highs (esp...

One of Dennis' funds had a 90% drawdown. At least according to the article I read in FUTURES magazine.

Looks like a lot of his money was made doing what is now illegal. Once the rules changed (SEC, early 30's FDR changes), he no longer could play the game.

Gold's rise was parabolic. Parabolic moves, once they're done, tend to go down hard. Imho, bottom fishing in gold or any market that has undergone a parabolic move is too dangerous for my capital. Remember, there are still some long-term trend followers who are still long. If they bail...

And some who work on making the small changes still don't make it. On a flight in the late 90's I sat next to a Senior PGA pro (a rookie--a TX oilman who made it even though he never played on the regular tour). He had just played in an event in Coon Rapids, MN, coming in last place; his...

What kinds of position does Rev put on for the portfolio? Just curious. How are Cody's picks? When I used to subscribe to RM, he seemed over his head. He's still there, so I must have underestimated him.

I think the "passive" versus "active" confuses things. Even though I really do not like baseball, but love trading, I offer the following: Good hitters in baseball are patient and disciplined enough to wait for their pitch. When it comes, they swing. Not half-heartedly, but with good...

Well put. And I'd agree. If the TRIN is going down as the market is going up, I would be more confident of buying. If the TRIN is going up while the market (esp. index futures) is going up, I would be less confident. On Interactive Brokers you can trigger a trade based on the level of...

Hi, risk In addition to the Nikkei, do you still trade the Hang Seng? I considered it, but passed when I spent a week watching it. Too intense; moves all over the place; great trends, but chop, chop, chop at other times. Not enough liquidity. Reminds me of those auto racing arcade...

Time decay never stops, because anything can happen at any time. Events on a weekend or holiday can definitely have an impact on the markets, even though they may not be open. Options are insurance: sellers are taking the risk in exchange for premium, and buyers are throwing off the risk...

Pay no attention to the small fry comments. Who cares what they think. It was a good call, and hopefully worth some good money.

I saw the same thing on the TRIN. When I saw it in the upper 2's, I covered my NQ short close to the day's lows (I covered at 1533). I usually care more about the direction of the TRIN than the levels. Today was an exception. When I daytrade I have the TRIN on my screen. I find it...

Of course you put stops in case you're wrong. And these can be "subjective" or "objective"--whatever works for your risk level and capital. It has been said that the strongest signal in technical analysis is the failed signal. Failed breakouts (or breakdowns) trap people on the other side...

Mid-day rallies after a weak morning are reliable buys for a day trade, and mid-day selloffs after a strong morning are reliable sells for a daytrade (exit at close). You buy (and sell) at the point when you know Cramer is pulling the hair out of his Larry Fine because he is wrong (!) once again.

Who cares who said what. Stop bickering, and let's make some money already.:-) Good luck to all.

ES and NQ are down big overnight (NQ is down 10+, ES is at 1247).

I don't trade the Nikkei, but Interactive Brokers offers the contract. I'd recommend trading it from Singapore; from what I have heard, the spread is less. American residents can legally trade the Nikkei as well as other non-American products (Hang Seng, DAX, among others).

True. Some of my worst trades have come during the dead zone--that's why I stopped trading then. The action then is too choppy for my taste (stops are too easily taken out, imo). I don't doubt that there is money to be made during the dead zone. I just think the easy money is to made at...