Hi Jeff

As we wind down for Christmas and the beginning of the skiing season, it is time once again to reflect on this year and make plans for next year. As you know this has not been the greatest of years for me, although I am now better placed emotionally to look at the many positive things that have happened in 2007 rather than to keep dwelling on the many months of drawdown that we had to endure. One thing I am absolutely certain of is that despite my many years of trading, I would not be trading today had it not been for your help and support in recent months. I really mean that and can’t thank you enough for your patience, advice and encouragement. (more…)

There has been an explosion of data coming from the futures exchanges as contracts trade in greater and greater volume and with wildly varying volatility.

To give you an idea of the magnitude of data coming (more…)

What helped in our call was when you said you like to move around a lot entering and canceling. It just has so much more of an intuitive feel and gets you (more…)

Skidding, like freezing, is not confined to winter. Traders can skid anytime and, like a skid in your car, it is never a good thing. In fact, skidding can be anything from a little bad to very bad.But first, (more…)

Is freezing something that only happens in winter?

Actually, freezing in a trade is in season all year around for some traders.

If you do not know what it is to freeze in a trade, and I hope that you do not, (more…)

One of the more insightful traders in the Mentoring Program made an observation today that I thought relevant. She said that capital was, for a trader, much like tools for a carpenter.

She said that a carpenter takes care of his tools because they are what he uses to make his living.

For a trader, his tools are his computers and screens and, more importantly, his capital. Just like a successful carpenter, a successful trader needs to take good care of his tools, starting with being smart with his trading capital.

Being smart with your capital means taking measured risks and keeping your discipline - never losing more on any one trade or in any one day than you had planned. (more…)