Tag Archives: making money

4 Things I would do differently if I was a new trader.

Originally appeared in April 2011 I would not change how my trading career has gone but if I had to do it all over again these are the things that I would do differently: Pick an objective sooner. I first was placing trades through my mentor. That meant that I could trade may be 2-3Continue Reading

Email: What is the most I should lose in a day?

This is a pretty common question.  Most people want a clear and simple equation.  But there isn’t one.  This is something that you need to answer for yourself.  Answering the following questions should help clear it up: What am I capable of making in a day? On your up days if you are making netContinue Reading

Predictions are failing at a rapid pace.

I do not envy the job of the economen (economist with the same track record as weathermen), but they still put themselves out there so we should learn something from them.  I do have some respect or empathy for them, they are proven wrong and wrong again but they still keep coming back.  Being aroundContinue Reading

A story of entrepreneurship and community.

Updated:  Has not raised about $120k in 13 hours. I have taken some time away from the blog, if you even noticed.  But the blog father has summoned me.  Seth Godin  launched a kickstarter at 5:07 AM ET today and as of 11:30 AM ET he has raised $97,000, $57,000 more than the goal. IContinue Reading

Futures returns math and how you might be taking too much risk.

Futures is one of the last business opportunities where the good are rewarded more than the bad are punished.  This is because of leverage and how much discipline is required. I was talking to trader who trades 1’s and 2’s.  They were not happy with making $200 a day. First, I think it is importantContinue Reading

Three stages of trading objectives.

I am looking back on how my objective as a trader has evolved.  It is funny how much theory and application changes how you view things.  Letting the market/situation change how you view it is important.  Everybody comes in with some expectations and it is constant race to keep the spread tight between expectation and reality.Continue Reading

Your trading goals are wrong.

I wanted to make money from the start.  I thought it was going to be easy. Everyone was making money.  Remember, I started my trading career at the CME.  You knew if people were making money.  You could see the cars they were driving.  You would see them at breakfast eating lobster at the MercContinue Reading

Every trader must believe in God.

Ok, not God but you have to have a believe in something you can’t always see, profits and progress. This is a big problem I see with traders.  Either they are new to trading or they have gotten beat up in the past.  They do not know what hard work is or how to notContinue Reading

If you are right you are doing it wrong.

Being “right” can be a psychological substitute for making money, be careful. You identified a good trade, now execute it. Enjoy it for a second and get back to work, you now have a greater responsibility because now you know what you are capable of. Identify a trade Find a way to break-even Find aContinue Reading

What to do after having a monster day.

Lets face it we are traders for the unlimited upside, having no customers, and no employees.  When you achieve that unlimited upside, what do you do? The first time The very first thing you should do is to order a check.  Take the money out.  Spend some on yourself.  Enjoy it.  You reached the nextContinue Reading

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