We received an email from a very accomplished young man the other day with an obvious passion for trading. He had traded different products and still had not finished his studies. I am looking forward to meeting him. When we are interested in a candidate we ask that they answer some questions. This young man answered one of our questions … Read More
Last Week of August 08
The last week in August is the worst trading week of the year. Our desk is instructed to take off during this month. Many were away this past week. And many will be away this week. I will be trading. My vacation will start next week. Steve gets this week off and I get the next. But there are some things … Read More
Modeling Career
I would like to take this opportunity to officially announce my retirement from modeling. Well let me modify that statement. I will not model another day unless I get paid 10k. Ok now that makes more sense. So Steve and I were asked by Trader Monthly to do a shoot for an article they are writing about SMB Capital. The … Read More
Best Pizza
So one of our new traders, who grew up near my home town, and I were discussing the best pizza. For some reason there is this false notion that NYC has the best pizza. They don’t. The best pizza, Colosseo, is from my home town. This is not some parochial or biased call. I have traveled quite a bit. And … Read More
Vacation
It is important to take vacations during the trading year. Trading for one day is like working three days at another job. I remember in law school taking finals. We would learn and study for half the year and then take one exam. For example, I took Constitutional Law with the Jeremy Paul, now the Dean of UConn Law School. … Read More
Alert
Well yesterday was a bit slow. We trended up and then trended down towards the Close. On the Open I traded FCX and HK and recognized light order flow. I was aware not to get caught in the Low Volume P. For SMB that means the low volume programs where the short term longs lose as the stock is dropped … Read More
Formula for Success
This is a tough week for us. We’re narrowing down our invitations for our September class for which, along with June, we essentially recruit all year. We have received thousands of résumés and have sifted through them, searching for those with the background necessary to be a good trader. We interview only some of the applicants—and only some of those get … Read More
The Yo-Yo Almost Always Finishes On the Ground
Did you ever notice that when you are playing with a yo-yo you never catch the little toy in your hand after a good run and walking away? Nah, it is more common for one to play that yo-yo to the end, stretching the string until it no longer rebounds and you have to roll it back up manually and … Read More