Trader X - Articles

 

Trader X dropped out of Northwestern University film school in 1979 because he realized that he spent most his free time in the library reading about stocks and options, not film.

He purchased a copy of "Dress for Success," and, following the book's advice, purchased two suits, one gray, one navy blue. They were both polyester because that's all he could afford, as were the ties that he bought to go with them.

Soon thereafter, he put on his new blue suit and striped tie, and took the bus to the Board of Trade building in downtown Chicago. He approached the receptionist outside the Chicago Board Options Exchange, and asked if she knew who to talk to about getting a job on the exchange floor. She paged "Larry."

"Larry" served as Floor Manager for a major financial brokerage, and offered Trader X a job as a runner starting at $300.00 per month. He jumped at the opportunity.

Three years later Trader X had worked his way into an Assistant Trader position on an options arbitrage desk for a major brokerage firm on Wall Street. Within another three years he had pulled his first million dollars out of the stock and options markets.

Since then, Trader X has traded just about every type security and contract that can be traded. He still trades. He also consults and coaches a select few other top level traders.

With all this experience he likes to add that he's never seen a stock option, and is not at all sure that they actually exist. He trades them anyway.

Day Trading Forex: Don’t Swim Against the Current When Day Trading Forex

This brief article illustrates the importance of determining, and trading in alignment with, the dominant trend for your time frame when day trading Forex. Read

By: Trader X | 20/12/2008 | Day Trading