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Can we just all agree that this man (regardless of his early successes) should stop making a fool of himself. To listen to him talk you would think that paper assets have had a horrible run for decades. None of what he says has any credibility. That said, I am very bearish on "paper" of all...

Wouldn't you have to know a bit (or maybe a whole bunch) more about what he did with the money to make that judgment? His choice returned more than 3X the return he would have gotten had he held the stock.

Hard to argue with his calls in the last three or four years.

When my grandfather died in 1944 he owned stock worth about $28,000 AT COST in the 20's. When my grandmother died in 1972 my father liquidated all the positions (none of the companies had gone bust) and put $29,500 into her estate. I guess if my grandmother had lived another 20 years and my...

I agree -- totally. How can anyone take a guy like Rodgers seriously. He tries to pretend that the commodities debacle that began in the summer of '08 and continued until April of '09 was simply a correction. Does anyone here know of a trader that would consider 70% + price declines a...

If he is right (a VERY big if) he neglects to opine on what happens immediately after the bubble bursts. That's when, in a panic, the political establishment extends and increases subsidies, cheap credit and the managed economy. Yes, we could well have the bust but we may also have boom...

I have read seven chapters of POP and am on my way to bed. Thanks for the recomendation and the link. Before I sleep I have one question. I am day trading a single NQ contract because i like the $5 tick and want to learn with lower exposure. Am I correct in my read that he is OK with a day...

While it may be overstating the case to say that all failures are the result of bad decisions by management it certainly accounts for the lion's share of those that go down. I have owned a number of businesses in the US and Western Europe over the years and looking back every serious problem I...

Saliva ... I should have been clearer in my post. I was talking only about trades closed out by EOD ... not taking any trades to bed. I used the term "swing" to characterize trades that were designed to catch the intraday swings that are not what most think of as scalps. I certainly...

I think you two are actually in complete agreement. Misthos point -- I think -- is that since we do not produce oil in significant quantities (in relation to our usage) we are about to be crucified. I agree with all that has been said here except that putting a date on the coming collapse...

Do traders scalp a portion of their position (say half) and swing the balance for a reason other than morale? I understand the frustration of hanging on to a marginally profitable trade that, if closed out, would have been a nice enough scalp yet turned into a scratch or even a few ticks worse...

I deal with a smaller self clearing firm and have modest sums with them. I like the people and the service but obviously their balance sheet leaves a great deal to be desired. As an NFA member (but not a clearing member of the CME or the like) they are required to keep customer funds...

fbirdien: The advice you have been given here is solid. Go with the power of attorney as step one ... effective and efficient. Concentrate on your trades not establishing a legal framework. IB and others have given you a structure that works. You don't have to be an attorney (and I...

It seems to me that certain things in life can not be purchased as one might a loaf of bread or a quart of milk. I am not suggesting that paying for a book that increases your knowledge or exposes you to ideas that are new to you has no value but when you purchase the loaf or the quart they are...

http://www.bloomberg.com/apps/news?pid=20601087&sid=aWjl3BEPLxdE

What about keeping your entry methodology the same but putting in exit levels. You could close positions that are either down two points or up six ... or whatever ratio you want to test.

This clown once started talking about how he was long and following copper and that he expected it to break $2.00. The interview tried to tell him it was over $2.00 and he insisted it was $1.65 and repeated that he was "in copper" and followed it closely. He was fifty cents off on the spot...

I am not yet at a point to consider making withdrawals -- I am still building. But, if I was, I would probably make it a fixed percentage (say 25% or even 50%) of my last month's net. I would do it on the same day -- say the 5th -- of every month and keep the % constant but set a minimum...

Everyone times the market to at least a degree. Even those who average in over time start on a date. They just have to hope that date is not in early 1929.

Of course it could be gone tomorrow and for sure it will be gone "some" tomorrow. What could be more irrelevant?