Millionaire Traders - Market Maker or Market Taker?

Great job on the book, Boris. I loved every word in it, but there were a few typos here and there-the printing company should've proofed it a little better. Loved the stories and down to earth traders. Your questions were direct and probing. I greatly enjoyed the commonalities of the traders' mindsets in relation to sports as well as their unrelentless motivation for consistency, trading to their own particular style, and their failures.
I particularly associated with Roland's day trading styles. Then you had him on a webinar which I saw only the pm. Get him back again...it was great. He is also a very humble guy, taking the time to respond to my email. I look forward to hearing more from him.
(I first took one of your trading courses a yr ago, then the Day Trading course, and I just need a little fine tuning-especially for stops. All great courses, and am just now finally getting the "feel" for the right trades. I can do everything technically and fundamentally correct, but I also believe one gets this funny "feeling" for the correctness of the trades as well. Some of the traders in your book also commented on that and I was glad to read that because I thought I was just getting emotional, when in reality, I'm just getting more "in tune" with the market.)Also, for any potential "bashers" out there who want to comment on why I took so many courses and I'm still not a millionaire.....I'm a perfectionist. I believe there is always more to learn, I've had to work diligently on self discipline in several areas and suffered setbacks because of it. Also, it doesn't matter to me how long it takes for me to become "successful" in my own terms of the word.
Keep up the great work, Boris and Kathy. Consider doing a sequel.:D
 
Quote from vnmonica:

Also, for any potential "bashers" out there who want to comment on why I took so many courses and I'm still not a millionaire.....I'm a perfectionist. I believe there is always more to learn, I've had to work diligently on self discipline in several areas and suffered setbacks because of it. Also, it doesn't matter to me how long it takes for me to become "successful" in my own terms of the word.
Keep up the great work, Boris and Kathy. Consider doing a sequel.:D
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I wouldn't worry about "bashers". No successful trader would ever trash you because you are not a millionaire yet. They all realize it takes time and tons of work and effort to get profitable. If it was easy then everyone could do it, and then there would not be any money in it.

if you get bashed, its not from a profitable trader.
 
Quote from vnmonica:

Great job on the book, Boris. I loved every word in it, but there were a few typos here and there-the printing company should've proofed it a little better. Loved the stories and down to earth traders. Your questions were direct and probing. I greatly enjoyed the commonalities of the traders' mindsets in relation to sports as well as their unrelentless motivation for consistency, trading to their own particular style, and their failures.
I particularly associated with Roland's day trading styles. Then you had him on a webinar which I saw only the pm. Get him back again...it was great. He is also a very humble guy, taking the time to respond to my email. I look forward to hearing more from him.
(I first took one of your trading courses a yr ago, then the Day Trading course, and I just need a little fine tuning-especially for stops. All great courses, and am just now finally getting the "feel" for the right trades. I can do everything technically and fundamentally correct, but I also believe one gets this funny "feeling" for the correctness of the trades as well. Some of the traders in your book also commented on that and I was glad to read that because I thought I was just getting emotional, when in reality, I'm just getting more "in tune" with the market.)Also, for any potential "bashers" out there who want to comment on why I took so many courses and I'm still not a millionaire.....I'm a perfectionist. I believe there is always more to learn, I've had to work diligently on self discipline in several areas and suffered setbacks because of it. Also, it doesn't matter to me how long it takes for me to become "successful" in my own terms of the word.
Keep up the great work, Boris and Kathy. Consider doing a sequel.:D
More...

Thanks for the kind words. Here is a piece of unsolicited advice on stops in FX. When K and I did an analysis of all of our positional trades we discover that if the trade moved more than 70 points against us it had a 90% chance of being a loser.

We still set our stops based on technical levels rather hard money targets-but are now much mindful to keep them within that 70-100 point region.
 
Quote from jbt:

Thanks for the kind words. Here is a piece of unsolicited advice on stops in FX. When K and I did an analysis of all of our positional trades we discover that if the trade moved more than 70 points against us it had a 90% chance of being a loser.

We still set our stops based on technical levels rather hard money targets-but are now much mindful to keep them within that 70-100 point region.
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Thanks for the advice. I trade primarily off the 5 min charts on gbp/jpy. I think the 70 pip stop rule would work well. I've been trying 40-50, but on occassion for divergences, I've found I need just that little bit more.
 
Just finished reading the book. I liked it. My favorite 2 interviews were Chuck Hays and Paul Villette, guess I am biased towards stock index futures, so that’s probably why.

The interesting thing about this book that the traders are retail and therefore a lot of things they say can be applicable for large majority of traders. This book will be very useful if you just starting out in this business. For the experienced ones, it is an entertaining read.

Regards,
redduke
 
Quote from RedDuke:

Just finished reading the book. I liked it. My favorite 2 interviews were Chuck Hays and Paul Villette, guess I am biased towards stock index futures, so that�s probably why.

The interesting thing about this book that the traders are retail and therefore a lot of things they say can be applicable for large majority of traders. This book will be very useful if you just starting out in this business. For the experienced ones, it is an entertaining read.

Regards,
redduke
More...

That's exactly why we wrote it because the majority of stuff in MW or books like Inside the House of Money while great is absolutely useless to most retail traders.

Glad you liked Chuck - he is like the prototypical Midwest cowboy. Won't say much and just lets his trading do the talking for him. However, I think I got some great material out of him
 
Thought it was a great read as well. Books like these are way more interesting/useful than any how-to books.

I also found the two best and most interesting interviews to be Chuck Hays and Paul W. What was more interesting to me was that both were from my area, MN.

Would be nice to meet with them if possible. Although I prefer the forex market, everything else they talked about was applicable to what I do.
 
Hey jbt,

I read your book twice now -- hats off to you. Really enjoyed it.

It's been especially interesting to read about Chuck & W ... err ... Paul. I meet them almost every day in the room but still discovered new nuances of their trading styles.

Hope to see you in the room again,

Kalle
 
Quote from Kalle:

Hey jbt,

I read your book twice now -- hats off to you. Really enjoyed it.

It's been especially interesting to read about Chuck & W ... err ... Paul. I meet them almost every day in the room but still discovered new nuances of their trading styles.

Hope to see you in the room again,

Kalle
More...

Hi Kalle,

Which room would this be?

Thanks,
redduke
 
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