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Chapter Eight
The Phantom:
Why System Traders Blow up and out of the Market |
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There is an old saying that Vegas is one town that never sleeps. I'm sure this applies to the Phantom. Meeting the Phantom in Las Vegas drove home the fact that between speculation and gambling, there is a very thin line. |
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Neal: I think people would appreciate knowing more about your background. |
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Phantom: I was an accountant for 20 years in Chicago, and I currently reside in Las Vegas. I have undergraduate degrees in finance and accounting and an MBA. I started trading about eight years ago. Like most traders, I did not do well when I started. Fortunately, I had enough sense to stop trading and realized that without adopting a professional, businesslike approach to speculation, I would have very little chance achieving long-term success. I quickly realized that a disciplined money management methodology was absolutely essential for profitable trading. I eventually was able to apply the business knowledge I acquired as an accountant and applied it to the trading arena. The end result was money management software I named Macho Man, which is the only practical software providing the trader with the capability of managing trading similar to |
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