The Man Who Buys CrashesQ: So you are coming to the conclusion that the systematic
approach is actually the most efficient approach for your type of
trading?
A: I believe that’s the case, yes.
Q: Did you have any mentors when you started trading and, at
present, do you have a support group or a group of traders you
talk to?
A: Yes I do. Starting off I didn’t really know any successful full-
time retail traders. It is a fairly rare thing, but I strongly suggest to
people to go to Trader’s Expo, one is out in Las Vegas, and you get
to be around all these other people who are full-time traders and
get to talk to a lot of top authors. I found that to be a wonderful
experience. In the San Francisco area, where I used to live, I
formed a group of about four other traders and we would talk on
Yahoo! chat and get together every week and have trading sessions
together, which I would suggest.
Q: What would that be like?
A: You have a laptop, someone has an Internet connection, and
we all have wireless, and then one person would put up a projector
on the wall, and we look at the chart and try to decide on a trade
and discuss this particular stock. I find that process very valuable.
I think everyone gains from it and on top of that, after the market
closes, you share experiences. We watch video tapes together from
various authors and so forth.
Q: Can you run us through a typical trading day? Especially now
that you’re in Nevada. Obviously you start the day quite early?
A: Sure. I try to get up before the market opens, check some
things out. I have a lot of software I have to open up. Then I bring