Traders buy and sell for a variety of reasons. Some traders will make decisions based upon news headlines or gut feelings. One may read that gasoline prices are at record levels and decide they have to go down, while with equal certainty another trader decides the news justifies even higher prices. These strategies rely on luck, rather than mathematical probabilities, to succeed.
Famous commodities trader Richard Dennis was having an ongoing debate with his friend and business partner Bill Eckhardt about whether great traders are born or made – whether it is possible to teach the ability to trade successfully. While Dennis firmly believed that trading abilities could be broken down into a quantifiable system of rules … Read more
By Chuck Frank ©2007, Reprinted with permission of Traders World Magazine (www.tradersworld.com) Boris Stein entered the 23rd World Cup Championship of Futures Trading® on November 15, 2006, and captured second place with a 77% net return, becoming the first trader to enter the calendar-year competition in November and still win a trophy. Stein was granted … Read more
An army of small speculators have entered the forex arena armed with pooled knowledge and sophisticated technology rivaling that of large institutions. By Dan Blystone As the editor of a website focused on trading and investing I try to keep track of industry related trends and the hot topics of the moment. Notably, the combination … Read more