Millionaire TradersI let the market move in its direction. I watch for the pullback,
make sure it’s not a reversal, and then normally I’ll move in on that
pullback. If it’s a reversal I’ll go short, if it’s just a pullback I’ll go
long. On 7 out of 10 trades that’s a successful move.
Q: What kind of resources do you use for news?
A: CNBC—but I also have another news feed that I use through
my brokerage company.
Q: Do you have to pay for any extra services, or does it tend to
be pretty low cost?
A: It’s fairly low cost. I haven’t pulled the trigger on a big invest-
ment yet.
Q: Do you pay for your news service provider?
A: I do, but I use a free charting package.
Q: Do you feel it’s necessarily for a trader, a new trader, to have
fancy equipment and resources?
A: I think people need to start out learning the markets. I don’t
think that paying for that stuff up front is important because you
probably don’t know how to use it yet. So I would say no in the
beginning. But later on paying$50 or$100 a month for a service
is well worth it.
Q: What about your equipment and set up? Do you have one
screen or three screens up at one time?
A: I use a variety of laptops. I do a lot of traveling so I have
four laptops. Normally I have two or three of them on at once with