Chicago trader seeking advice

Discussion in 'Hook Up' started by porkchop_001, Sep 12, 2007.

  1. Hello All,

    I am new to this site; however I probably should have signed on before getting to this point.

    I have worked in my family’s business since I was 16 (currently 33), until we sold the business earlier this year. I was running the business for my father up to the end. We were a small family business of 40 employees. This business has been very good to me and I will never regret me decision to go that route after college.

    I have taken a couple months off after the very hectic end of sale to enjoy the summer on my boat. I am now ready to get back to work and have been trading for myself for the past 3 months. I have to say that the cost of tuition for this business is getting expensive.

    I was Finance major from Loyola University Chicago and have always been extremely interested in finding ways to have my money work for me, and hopefully work very well. Finally getting out of the family business has giving me the freedom to finally pursue what I perceive as my true calling.

    I just read the book Market Wizards by Jack Schwager (1993) on suggestion from another trader I met here at my trading firm. Great book, all I kept thinking about when reading it was that these guys must have read my mind. I was making all of the same mistakes that these guys made. It has actually given me hope and the insight to fix my most obvious flaws and push on, I can do this and will do whatever it takes.

    From these other posts I gather that it’s hard to gain access to some of the good prop firms. I will not give up until I have exhausted all of these channels to get in and get better.

    I am writing this post to see if there is anyone in Chicago that is successful and can meet with me and allow me to scratch their brain. I am in search of direction and knowledge; I realize that someone isn’t going to give me some magic advice that will allow me to wake up the next day making millions. But as I am at the end of my financial rope (for this type of investing) I want to figure out what is my best next move.

    I have been trading the e-mini’s, ES and NQ, and want to see if I can get into short term interest rate futures.

    If you’re going to post ignorant jokes based on my post don’t bother. Your ridicule won’t stop me from pursuing my goals. Nor is it very productive for my goals. I just ask for series professionals or nothing. I am taking this very seriously and ask for your consideration, as we were all at this point in the beginning.

  2. jsmooth


    If your just looking for guys to talk with (and your already in Chicago), and your not afraid to approach people....just spend a lot of time at the bars/resturants around the exchanges (Ceres Cafe, Riverside Resturant (the one in the CME building), Cactus Bar, ect...). Or just hang around that area in front of Chris Gardners office (right outside the CBOE) its all CBOE traders who are on breaks....Those places are always filled with traders; and most of which are always willing to talk about the markets.
  3. Or just start smoking cigarrettes outside the exchanges and BS with a few. You can even meet Rick Santelli on one of his smoke breaks. I'm serious, no joke,

    What type of trade are you looking to do?
  4. I am currently trading e-mini s&p's. However, the cost of tuition into this market is getting hard to tolerate.

    Since reading the market wizards book I have definitely made great adjustments to my trading style but unfortunately the money is running thin.

    Here goes the age old adage, I wish I knew then what I know now! LOL!
  5. How long have you been at it?
  6. You"ll learn more from following the ES Journal thread on this site than you will from that book. Some of those guys can call them well. I don't trade it but it has become an important indicator for me over the last 3 months.
  7. I started in July of this year.

    So if you mix inexperience with the volatile high volume 30-40 handle move days in the past couple of months, I picked the wrong time to start. My learning losses were definitely larger than probably would have been in a normal summer market. (I guess)
  8. I found that journal last night when I was sifting through the site. Consequently I have been watching it all day and plan to try and learn from them.
  9. Well, at least you can appreciate the risk.
    To learn to trade sucessfully in only 2 months is like getting a 4 year degree in one semester. It's almost unheard of. It will take time, patience and discipline. I'd say give it a solid year full time before you give in.
  10. I'm going to do my best to stick with it as long as possible.

    I appreciate you encouragement, Thanks!
    #10     Sep 14, 2007