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When I say over regulated, I'm talking about the fees traders have to pay. It's ridiculous. It turns a lot of guys away from prop. A fee here, a fee there. Then there's the exam's, stupid rules, etc. The only edge Don or any equity firm offered was leverage. And obviously leverage is...

A buddy of mine runs 4 pizza restaurants in St. Louis. Makes over 500k a year. More then most traders. He busted his ass to get them up and running. Now they run themselves.

BTW, we have the strictest gun control laws in the country. Chicago likes to compare itself to other world cities, so Ward Room thought it would find out how we rank in violence. It turns out no one can top us. Among what are considered Alpha world cities, Chicago has the highest murder rate...

OK, well 10 years ago. I really don't think Don would make that statement today. All joking aside I don't think Bob touches stock anymore. I believe he only trades futures. The biggest issue Don has in the equity world is that the business is just so over regulated. Not much he can do...

I know the book but I don't really look at volume and open interest. I'm all about volatility. I have heard that's a good book though. I think volatility is more important the volume and it's one of the reasons why ACD resonates so well with me.

There are different factors that drive oil and nat gas. They are not terribly correlated. Oil trades as a risk asset, natty does not.

He structured that poorly. Just read it in reverse, what he is saying is if today, the market closes both above it's opening range and above it's pivot range, then it's a plus day. So if Crude Oil's opening range is 88.00 to 88.40 and the pivot range is 88.35 to 88.50 and Crude closes at...

Did Don really say he has met no one who makes any money trading futures? I find it difficult to believe he said that. If he did, maybe I should introduce him to his brother. That's all he trades. :) And furthermore, if one is going to hold a position for days and weeks on end, what...

This was my post back on July 7th. As you can see, this played out pretty much as I expected. We closed the gap at the monthly A down and bounced off the A down twice and failed at the monthly A up twice. I mentioned we might trade through the A down a little but but not confirm. This price...

Crude oil had a textbook failed QTR A up. Once you get that failure, you need to be very careful about buying it. You want to be long into the tag.

Bonds rolling over with stocks. That's new.

Not even AAPL???????? :) AAPL closing the month at the monthly A up.

Like Albany upstate or Westchester? I'm assuming they want to work in Manhattan.

Obviously you don't live in either. People live there because they want to own a car and because they want more space. Same reason why people live in Queens or Brooklyn over Manhattan.

Well, the sad fact is, most traders in general don't stay around too long. I don't see why it would be any different with Patak. A trader might have an edge that goes away or might simply do well in a certain environment and when that environment changes, so does their p&l. Equity markets...

I'm going to be out of town at the end of August. Not sure if we are going to meet earlier in the month. We had great weather last night!

Surf, were you renting or was that a condo? Curious what a place like that goes for. I've never been to that area before.

Nope. Rasmussen actually not only had Obama but had the closest call on the popular vote. 2008 According to Politico, "Rasmussen’s final poll of the 2008 general election — showing Obama defeating Arizona Sen. John McCain 52 percent to 46 percent — closely mirrored the election’s...

Fed meeting, ECB meeting, jobs number...all this week. Market is always dead ahead of these.

Well, just be happy I'm not aging you based on your maturity level. It might bring that number down a little (a lot). :D