Mav, I read in a post of yours on the ACD thread that you met Eric and went upstairs to MBF on a visit. How do/did you know him and Fisher? I wish Eric would write a book about his trading...I liked him better when he was just a trader then a news guy.
I never met Eric. I met Mark. Eric was long gone when I was up in there office. I was working on a project with Fisher.
"We" didn't toss anything back at you. This is about stupid f*n Bolling who has no business talking about politics. He should stick to what he knows, trading. He's a dim bulb, and Mav, had you met him and dealt with him on a regular basis, you would agree.
THAT IS in effect what he said! "anybody can trade" "just cut your losses short" is the same thing as saying "buy when the 20 crosses the 50" see what i'm saying??? This has to be the absolute dumbest (Correction: dumbed down) trading advice ever!!! haha listen to this interview. Just WIN BABY!! <iframe width="425" height="349" src="http://www.youtube.com/embed/j-wg_8YiDlE" frameborder="0" allowfullscreen></iframe>
That was a great interview he did. I honestly don't get what your gripe is. What exactly do you expect him to say? If someone asked me for trading advice I would probably tell them two things. One, don't. LOL. And two, cut your losses. Both in terms of trades and in terms of career. Know when to say when and walk away. I absolutely agree with him as well on the athletes and gamblers making the best traders. What advice would you give someone? Seriously, this girl was looking for a 5 second answer. This isn't a 60 minute sit down with Charlie Rose. It's wallstrip for christ sake. LOL.
No gripe really, I'm just saying that trading is NOT easy and anybody that states that is simply not being truthful and is misleading people. Thats all im saying. What I would say is that most people can be taught to trade but its a long frustrating road on your own. Or something like that. I cetainly wouldn't say anybody can trade, just cut your losses short, thats the key. haha, thats not the key. You need to trade with an edge, thats the key.
Well, the process of trading is very easy and I think he was really trying to say that. The execution of it is of course much harder. I can teach you to play tennis in a few hours. I can't teach you how to win the US Open. Again, it was a 5 minute fluffy interview. I'm sure he didn't want to go into an hour long discussion of the psychology behind trading. I think it was a great interview and Eric is a great guy.
Well i'll have to admit he was just trying to get through that 5 minute cheesy interview knowing it was mostly just some trading fluff talk. Not like he was there to turn the listeners into top traders in 5 minutes. So it doesnt really matter what the hell he said.
Maybe he should have used the word "simple" instead of "easy". And the brunette doing the interview is a smoking hottie.
I think that floor traders had strategies that were very marginal. A marginal strategy benefits the most from risk management. A really good strategy only needs protection in a Black Swan event and it's very simply accomplished with some deep otm options if the strategy can pay a few percent of capital per month for the insurance... I doubt that many floor traders could transition to screen trading. More likely to transition from Engineering or Math to screen trading, it's about the personality types that could trade in the pit vs the types that like "charts and graphs"... but having the engineers do the financial shows.. BORING!! Having a guy from the pits do the shows might bring a lot more to the stage...