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go into an extended trading range, I have as yet seen no signs of this. |
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Neal: Speaking of day-trading, I thought you might enjoy Mark Brown's response to a new trader asking about day-trading the S&P. |
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Neal: In the e-mail, Mark stated the following: "You actually have a better chance to win a lottery than to become a long-term year-after-year day-trader of any commodity. When you throw in the idea of doing this on the S&P, your odds go from winning the lottery once in a while to winning the lottery every week for 10 years straight. I suggest that you limit yourself to a specific amount of money to lose. Now, take the rest of the money and give it to a trustee who will not allow you to have it once you blow the account." These are Mark's comments, not mine. But I cannot help see how they mirror your sentiments. Thanks for the interview, C.V. |
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An author comment: The above interview with C.V. is one of the more important interviews of this book. C.V. understands that trading Chicago style is understanding how the pit works and that patience, money management, and a plan are the same elements we use in Chicago. It is merely the time frame that is different. |
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You will note that there are a few interviews where there are no e-mail addresses or Web sites for further information. This interview is one of them. C.V. continues to trade the markets, and quite frankly, that is all he wishes to do. However, you may contact me, and I will forward your e-mails to him. |
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The figures that follow (Figures 9-1 through 9-6) are examples of the types of contracts C.V. trades. Note the tendency of contracts to develop strong trends without huge spikes. |
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