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RM = Risk Manager. My thought was that since the guy was able to enter 30,000 was that most likely he was employed at a proprietary trading firm, which would mean that his orders and his positions are under the close oversight of a firm Risk Manager. The exchange and the clearing firm will...

Does the other post mention if the volume was adjusted by the trader, the trader's FCM, the trader's firm RM, or the exchange ?

This is going to sound corny and silly and really OG - but keep a personal journal. Not here on ET, but on MS Word or in a spiral notebook. The more brutally accountable you are with yourself the better. I tell my own clients that not repeating mistakes >>> positive account equity. :strong:

That's the holy grail gotcha moment. 90 percent of the traders out there refuse to equate a position marking down with the term "wrong". There is a 'fight or flight' response that can result in either 1. paralysis, or 2. a hard headed refusal to believe and accept what the P&L column is...

I spent ten years of my career trading at a couple really top tier Chicago proprietary trading firms. Stupid size. Mostly flat at the end of the day - but I sometimes traded around a biased core position because I had earned the right. I was David Ellis' biggest MF spread trader EVAH. I...

Yes, that’s why I posted (I highlight): “To quote from a commentary piece that appeared in January in the Chicago Tribune:“

That's true. The utility that I started my Engineering career at ended pensions in the late 1980's and went over to 401K's and employer matching contributions. But even with the old pension system - if you retired early, you gave up quite a bit of retirement pay for the privilege. And when...

We can argue if a tree trimmer or a prison barber should make six figures until the cows come home. It's clearly NOT working for Illinois citizens. To quote from a commentary piece that appeared in January in the Chicago Tribune: "Illinois’ ever-growing pension spending is already crowding...

Exactly - and Illinois has thousands of them apparently. I put up the post on US DoD General Officer pay and retirement on page 4 of the thread because quite frankly I was curious about the numbers of them the military had on active duty and how much they made. US General Officers O10 grade...

I've seen it throughout my energy trading career - especially in hourly electricity. pressure >> denial >> fight it >> too painful to bear >> panic covering

That is just insane. Truly. Thanks for the post. Great one.

I started out as an Engineer at a major US nuclear utility. Since the '80's nepotism was actively rooted out of corporate American HR. If anything it was a curse. Exceptions being small and medium sized businesses where the CEO still owned the majority of the Company. But for large publicly...

1. Every Berkshire Hathaway Company that is eligible for federal funds will apply for them. To think otherwise would be naive. 2. Berkshire Hathaway successfully killed off pipeline construction using their political connections with the Obama administration so that BNSF Railway could continue...

I'll say it again; Berkshire Hathaway lost quite a bit of luster with institutional investors - he sat on his mountain of cash for five of the best years in stock market history. They have definitely lost some cred.

A fair amount of the shine wore off of Berkshire Hathaway with institutional investors - they were pissed that Buffet just sat on a mountain of cash for five of the best years in stock market history.

You are on the path to enlightenment. Ask yourself: "where's the real juice - the rocketfuel in this market?" When you factor in all of the fresh shorts - I agree that it's to the upside.

Markets really tend to gravitate towards "the path of pain".

In the United States Military the total number of active duty general officers is capped at 231 for the Army, 62 for the Marine Corps, 198 for the Air Force, and 162 for the Navy. The US DoD paygrade is O-10. A General receives a basic pay salary which starts at $186,000 per year and is capped...

Sig, what is outrageous is that Illinois has no way of actually paying for these pensions. The State has been downgraded 21 times since 2009, and this is all driven by the pension crisis. The answer from Illinois politicians continues to be more tax hikes. But Illinois is losing residents and...

Chicago Tribune December 30, 2019 Illinois loses population for 6th straight year — and it lost more residents than any state this decade Illinois’ population decreased in 2019 by an estimated 51,250 people, or 0.4%, marking the sixth consecutive year the state has lost residents, according to...