الأحد، 8 فبراير 2009



I train my students to use contingency stops so that they are completely invisible to the market but not because I am afraid of market makers. I want the student to set up If Then scenarios that keep them neutral in their trading. I also show them where the traps and land mines may be and where stops make the most sense. It is simply learning to play the game and a big part of that is learning the competition. The retailer is not your enemy, they want your business and they do provide a service but you must learn to not overpay or fall for that flashy lure because the pros are not going to dumb down the game for you.

There are effectively floor cops for the exchanges and very strict rules. The Floor Governors committee has over 20 checks and balances to monitor and regulate ALL trades. No one can operate in a vacuum or under the wire. Time stamps record every action and if you suspect foul play you have the right to request a time stamp and proof that your order was handled to the letter of the law. If there is a mistake it is corrected in your favor. If foul play was uncovered it could cost the market maker their license. By the way in 1999 a seat on the NYSE sold for 2.6 million dollars. Currently a NYSE seat goes for 1.1 million dollars and the Chicago Board Options Exchange (CBOE) seats go for $590,000. Try to imagine a market maker risking that investment over a fifteen cent spread. FOLKS, listen to me it does not happen. Manipulation happens and games are played but not like the myths and stories suggest.


So please let go of the blame, the rhetoric and epitaphs that so conveniently hide our own deficiencies as traders. Step up and own your skill level and do something about it. I invite you to come and spend two days with me in the Trader s Forge. I will put you through ten months of actual trading drills and you can learn to set stops and read price charts and flow with the trades by actually trading. I will make you work like a coach makes the players work until you begin to own the new skills and gain confidence in a realistic

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