May 2007


If your like me you want to hear from the people who are making a living trading.  I’ve found a gem of a website called TraderInterviews.com. This website is full of audio interviews from all types of traders. The archive goes back 14 months and interviews are added every week.

I’ve found great interviews …
  Rob Booker – 9/04/06 – Re: Currency Trading
  Wayne McDonell – 01/22/07 – Re: Trading Forex Announcements
  Jason A. Jankovsky- 02/12/07 – Re: Thoughts on what traders are thinking and doing

I’m adding this website to my list of resources for becoming a world-class forex trader.

Here’s the link http://www.traderinterviews.com/index.html

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When I think of arcades I think of pinball machines, space invaders
and teenagers everywhere.

Here’s another take on it…
Do you want to trade options using state-of-the-art technology while feeling the camaraderie and buzz of a trading floor without dealing with the bureaucracy of a large firm? (Not to mention, could you stand to make more money?)

Go to the nearest trading arcade. What is that? Elizabeth Gisch, director, globes account management, for the Chicago Mercantile Exchange, explains that a trading arcade is a place where a trader gets a seat and sophisticated trading technology, connectivity to markets, market data, analytics, clearance and settlement services, as well as reduced commissions. They trade using their own capital. Profits generally are split with the house, says one published report.

Arcades first appeared in London after Liffe, the London International Financial Futures and Options Exchange, shuttered its trading floor, Gisch says. Liffe traders wanted to salvage their livelihood and continue trading. As a result, arcades were born – a place where former Liffe traders could connect to Liffe’s new electronic market. Soon, arcades began to target younger, tech-savvy traders straight from universities. The concept is growing and has caught on in the U.S., where now there are several in Chicago and two in New York City.

“Prop shops” – proprietary trading firms – are a variation of an arcade. Here, traders trade house funds and work for a package, including salary and profit split. Currently, both are for trading futures and options only.

by K Massaro – Wall Street

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This book has been circulating on various websites. 

It’s titled Reminiscences of a Stock Operator and the full book is available for download.
Reminiscences of a Stock Operator is the thinly disguised biography of Jesse Livermore, a remarkable character who first started speculating in New England bucket shops at the turn of the century. Livermore, who was banned from these shady operations because of his winning ways, soon moved to Wall Street where he made and lost his fortune several times over. What makes this book so valuable are the observations about investing, speculating, and the nature of the market itself.

Here’s the link …   Scribd – Reminscences of a Stock Operator

I received a comment requesting more details on my 10 to 15 pips a day strategy.
In all honesty it is a work in progress. My goal is to find the best setup opportunites.

I  trade the EurUsd between 7:30 a.m. & 1:00 p.m. (New York time).  I try to take advantage of the morning market movements.  I use the RSI and MACD indicators to gauge when to enter the market.  I would also suggest monitoring the website Fxstreet Advisor. It has great insider market commentary. 

If you have any comments or suggestions send me a post.

Good luck to all.