Millionaire Traderson. They can yell at you after the fact, but they can’t offer you
constructive advice. It’s an internal thing. You have got to come
to terms with the fact that you are going to be a professional
trader, that you are going to manage your risk, and you are going
to study these options or these strike prices or the relationships for
them so that you can quantify your risk. You must come up with
your own methodology on how you are going to calm down and
control risk, and be professional, and try to be the house in a casino
instead of just a player. It’s a really an internal thing. These guys
can help you a little bit. But a lot of them don’t have that much
better insight than you do, and none of them are as motivated as
you are in terms of trying to make money and be successful in the
business. That’s what I found, they’re not going to be your savior,
so you better do it yourself.
Q: Was your trading styleorganic, was it basically something
you learned yourself, or something that you modeled off somebody
else?
A: It was a combination of things. When I decided to become
professional after that first year of the$20,000 loss. I ate, breathed,
slept, and drank commodities. I read everything about the markets.
I would read theMarket Wizardsbook about Tony Saleba, and
tried to understand what he was doing. Okay, I don’t want to get
too technical, but he was doing butterflying in the front months
and back spreading in the back months, and scalping in the middle
to pay for the whole thing. So I looked at that idea. I started to
remember what my mentor in the business was doing when I was
standing behind him and he was trading gold options and things
like that.
Q: What was he doing exactly?
A: He was lucky back then. You were able to get conversions
done where you were able to buy puts, buy futures and sell calls