The Great AdapterQ: They’ve gotten a lot sharper in their algorithms.
A: Oh, yeah very much.
Q: Are you still doing maybe 50 to 60 trades per day? Or are you
doing a little bit less now?
A: At least. I’m trading over a 100,000 shares a day, every day.
Typically I trade 2 to 3 million shares per month now.
Q: Just a couple of last questions. What’s your number one rule
for trading?
A: Don’t hold losers. Others: Keep a positive mindset. Think like
a winner. Go to the market every day and take out some money.
Be patient, be disciplined, be passionate.
Q: Best trade ever?
A: Ever? It wasn’t the biggest profit trade, but it was the biggest
point gainer. And I can’t remember what year it was—’01 or
’02—somebody had put something on the Internet about a stock
called Emulex.
Q: Yeah, Emulex.
A: So it just started tanking. I watched it and I watched it
and this is one thing I typically don’t do—fade stocks—but I just
thought this is crazy spike down [laughter]. I bought 100 shares and
I swear 10 seconds later it was halted. “Oh brother, what have I
done? I’m so stupid.” I thought. After it was unhalted, I think
I made close to 60 points on it. That wasn’t my biggest P&L
trade, but I would say my most memorable was the fact it was so
fast.