Millionaire Traders - Market Maker or Market Taker?

I will be on CNBC tomorrow 7:10 AM talking about the book with Joe Becky and Carl and we'll have one of the traders from the book on the phone as well.
 
Quote from jbt:

I will be on CNBC tomorrow 7:10 AM talking about the book with Joe Becky and Carl and we'll have one of the traders from the book on the phone as well.
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Thanks...

Could you let me know what time Jack is going to be on too...

thanks... :D


<img src="http://www.enflow.com/p.gif">
 
Quote from EdgeHunter:

Thanks...

Could you let me know what time Jack is going to be on too...

thanks... :D


<img src="http://www.enflow.com/p.gif">
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I will refrain from taking that bait. One thing I did want to discuss a bit. Some one asked me

.Which answers to which questions surprised you, or were
counter-intuitive?

To which my answer was:

Some traders added to their losers and were quite successful at turning
those trades around and making them profitable. They taught us that the
first decision is often wrong and traders need to have a very probative
flexible approach, much like explorers of the 17th century who made
constant adjustments to the terrain on front of them.

The most important thing we learned from the interviews is that the
model for success is never static. Almost ever trader traded
differently today than they did three years ago. That's why the quest
for the Holy Grail is an exercise in futility. The only constant was to
be always open minded to change.
 
Quote from jbt:

I will refrain from taking that bait.

The most important thing we learned from the interviews is that the
model for success is never static. Almost ever trader traded
differently today than they did three years ago. That's why the quest
for the Holy Grail is an exercise in futility. The only constant was to
be always open minded to change.
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Well Refrained... :)

and

Maybe the <b>Holy Grail</b> is the effort to flexibly adapt to the ever changing market over time...


<img src="http://www.enflow.com/p.gif">
 
Quote from EdgeHunter:

Well Refrained... :)

and

Maybe the <b>Holy Grail</b> is the effort to flexibly adapt to the ever changing market over time...


<img src="http://www.enflow.com/p.gif">
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Yes except easier said then done. As human beings we are not very good at making adaptations. Perhaps that one other interesting aspect of our discovery - amongst equity and futures traders all were very athletically minded. Sports by definition requires discipline and flexibility which may explain in part the success of these guys.
 
Quote from jbt:

Here is the clip from today's CNBC appearance with one of the most consistent traders in the book Steve Ickow
[
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I find it amazing that he can trade 250 times a day and yet he says he is disciplined, waits for the trades to set up and only trades a few Nasdaq stock.
 
Quote from Brucelee:

I find it amazing that he can trade 250 times a day and yet he says he is disciplined, waits for the trades to set up and only trades a few Nasdaq stock.
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Read the book - he uses a tremendous amount of probative trades -which constitute the bulk of the 250 that mostly end in scratch. He is like a great poker player who feels out the table before he makes a move.
 
Quote from jbt:

Read the book - he uses a tremendous amount of probative trades -which constitute the bulk of the 250 that mostly end in scratch. He is like a great poker player who feels out the table before he makes a move.
More...

No thanks, I couldn't trade like that and wouldn't wish to. I just find it amazing.
 
I watched it this morning. Too bad they only gave you few minutes.

How come Kathy was not there? I thought you wrote the book together.
 
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