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The big $ is made in holding positions from weeks to months - why you ask? The markets trade around the clock - tacking on considerable gains over time, trading costs are significantly lower, and it is a lot easier hanging on to a winner than trying to get into a new winning positions through...

What I do on Maui as far as hours are so unconventional - I sure would not want to confuse someone starting out. I like to zag - not into the zig. As others have pointed out your best bet is futures so you can trade the global markets (Asia, India, Europe) and the US afternoon session. The...

The reason we are ragging on you is the get $ fast crowd churn & burn at an alarming rate. Traders that make it have an unconditional persistence. There are some shooting stars that have some good luck early on, they always end up giving it all back and than some, ending up mentally devastated...

The markets transfer $ from the many to the few. Becoming a profitable trader always takes a lot longer and costs a lot more to make it through the learning curve than few could have ever imagined, let alone endure. Someone stepping in to the arena expecting the markets to gift them with $3k...

The people you mentioned manage 100s of millions of dollars. It is common sense that their return will be much less than a retail trader with a relatively small account. If you want to drink the fantasy kool aid that less capital in trading is an advantage that's your choice. Big traders/big...

rin4net said: I disagree with Xela. There are setups that have 80-100% probability of a winning trade So you think you have 80-100% 'probabilities'? Shouldn't take that long to become on of the richest people alive. The best performing pros out there win about 50% of their trades - sure...

When traders of this caliber blow up it should humble us all - everyone knows capital preservation is the most important thing, yet so many former brilliant traders go down in flames from astonishing heights. Wikpedia Niederhoffer Investments returned 35% a year from inception through 1996...

Victor Niederhoffer had an article about him in the New Yorker - he said that making returns over 50% and your on the raged edge of blowing up no matter whom the trader is since no one is immune from the reality of math. He said his main mistakes were not having stops & having large positions...

The one attribute a number of the best traders of all times have remarked on as their most significant insight is that their best trades will run hard right out of the gate. Because of this they exit a lot more aggressively on the losing trades and carefully layer on to their winners, usually...

Check this out, he barely taps Don King and knocks him over.

For inspiration/affirmations your on the right course watch the movie 'Margin Call'. System trading is in the stone age - you should do just fine - the arms race has just started.

CI -Japanese trader that made a reported $34M inside of 2 weeks. "a well-played stop-loss is just about the most beautiful trade there is."

This notion that Livermore the trend trader would convert to day trading if he was alive today makes no sense - he was clearly outspoken against short term trading, he berates it over and over again - calling it a fools game over and over. He speaks of the hundreds he used to make on quick...

Riding the ES with a $100 stop is like trying to cross the sea with a sailboat that capsizes on every whitecap. Using a 1% stop loss is good. Having a position that is to large to give it adequate wiggle room and still use a 1% stop is greed. Your better off sizing down to say 100-200 shares...

Great article. Like most wealthy people he is eccentric, the $ was never the goal, but a by product of following their passion. The way CIS sees taking a loss it night & day compared to novice retail traders & even a lot of pros, he says "a well-played stop-loss is just about the most...

If I had to choose only 1 instrument to trade than hands down for me it is the NQ. It trends very well, responds great to classic chart patterns, is less expensive to trade than most - it is a breakout market with minimal back filling.

I found this in that yellow book called 'Day Trading For Dummies'. I guess my argument about day trading was a bit off kilter. A day trader that is profitable that reinvests their profits is compounding after you take into account the round trip trading costs. Nothing against day trading - I...

Like fryetrading said - Commodities are the king of volatility. I don't like to play favorites since I trade them all.

Do most of your profits come from a small % of trades? My long term win rate is approx 50% and the bulk of my annual profits come from about 10-15% of all my trades - the other smaller winners basically cancel out the losing trades. This is right on par for the best swing/trend/position...

If he is the real deal. He is said to have watched the bid-ask of the 30 largest stocks in the Nikkie index. He is said to have seen weakness on 8-12 after price got smacked down from resistance of the prior high made on 6-24 - a 2T. He went short into what I would call a bear flag - shallow...