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IMO, the "Wizards" series of books are at the very least counterproductive, and for many have ultimately been destructive. The author emphasizes the "one big trade" for each of his biographical subjects, and to that end the illusion is promoted that successful trading requires counter-trend...

Price action only, no indicators, no indicators but use a trendline, oscillators, S / R, wavecounts, ... There is no one singular answer. You can find successful traders using any particular indicator. You can find successful traders using absolutely no indicator. I am amazed by the...

When I bump my clients... I have to make it as subtle and as inocuous as possible. Trading is all about the five inches between your ears. They hire me for this. And I am very calculating about it.

Headline from today's WSJ: "We've Become a Nation of Takers, Not Makers " "More Americans work for the government than in manufacturing, farming, fishing, forestry, mining and utilities combined."

CBOE is moving way too slow on this. They need to get this contract going before it gets poached. Revenue sharing, while the market-making party takes on all the risk ? Meanwhile, they spend huge $$$ at Wrigley Field and Chicago Stadium and on and on. But susidize product liquidity...

With that bid / ask spread requirement, they would also have to financially subsidize the Market Maker... which has been done before, and quite honestly might not be a bad way to introduce the product. If anyone thought they could make money on a fifteen cent bid / ask spread, then they...

Look at the BLS figures for "underemployment". The other piece are all of the folks taking that 3 years of benefits and who are not even looking for work. The price of gasoline and the torrid pace of price inflation will dominate the economic conversation for the next 18 months.

I teach an edge, I claim to teach an edge, and if I was a disappointment in terms of my deliverable then you would have 70 ET Members who have been and currently are clients posting all kinds of hateful stuff about me on this website. Please note there are no CLIENTS posting bad things about me...

That's wishful thinking on CBOE's part, IMO. Big hint: they extended their MM solicitation timeframe. A market-maker is going to have to hedge his book in the OTC market or on Clearport, and the bid-ask spreads in the straddles over there are going to make that 15 cents a tough way to make...

Ask to speak with some of the vendor's clients who are actually using the system. Are there actual clients who are using the system and making money with it ? What are the client's perceptions of the educator ? Are the clients legitimate, and are you able to have an honest and independent...

I have taken on a couple clients who used to trade pairs for Bright at the Vegas and Vancouver offices, and are currently making a transition into futures spreading. My perspective: 1. Very tough to intraday equity pairs trade for convergence; i.e., fading moves according to a 'rich - cheap'...

Oh, it gets better. My credentials check out, and my clients actually love me. I actually have clients who are making real money in live markets. And a serious prospect can actually verify that with the client. Independently.

True pearls of wisdom. +1

First you have to truly understand the difference between 'account size' and 'performance bond margin'. You also need to understand how drastic the leverage and capital efficiency disparities are between the two, and how unrealistic it truly is to try and make an ROI performance comparison...

Young, your point regarding order matching is taken. Pro-rata, however, will not do anything to perk up the Treasury roll when the underlying deliverable does not warrant it.

I know Chuck McElveen personally, so I guess that I do have some insight into what was the Kingstree Business Model. You're the name dropper, not me. I was a Chicago prop trader for several years myself, and I have clients who are currently Chicago prop traders. I have clients in the UK and...

The CBOT rolls are dead because the CTD supply has been quite abundant for the US (Fed printing press), and for Eurex they enacted a provision several years ago to print more OTR deliverable in lieu of a squeeze. The only thing that pro-rata promotes is order stuffing and queue gaming...

We use several timeframes, and our models can use just about anybody's charting platform that will accomodate custom synthetic spread combinations, exchange-supported spreads, and custom studies. We also use multiple timeframes simultaneously.

Someone who holds himself personally accountable for the trading decisions he makes.

Sure, let's game the order queue and kill that market just like the Euribor.