Millionaire TradersSo if you look at the market in that respect, I don’t think there’s
randomness. I think the randomness that’s in the market comes
from not knowing when the big guy with, say$10 billion, will sell.
Is he going to sell it right now? Or will he sell it in 10 minutes, or is
he going to sell in 20 minutes? Maybe right now the market’s going
up 10 pips and he’s selling and it’s not doing anything. But maybe if
he sells in 15 minutes, when the market is going down, and at that
point he just adds and accelerates the market downward at that
moment. So there is some randomness—but there is also order.
Q: How do you differentiate between the two?
A: Well it’s an art. That’s why you have to define yourself. If you
define yourself you know where you are coming from.
Q: So clarity really doesn’t come from the market but from
yourself?
A: Yeah, exactly [laughter]. Spoken like a true Zen master [laugh-
ter]. But it really does. I think you know because again, like today,
the market went up 40 pips for a few seconds after the 5:30a.m.
announcement. Then it went down 100 pips after that. So you
could have made money long or short it—just depends when and
where you were at those 20 seconds. That’s what I mean—you
have to define yourself.
Q: What’s your number one rule for trading? If you were to
distill it to one key issue, what would you say it would be?
A: One key thing? Wow, that’s very broad. As a trader I think I’m
going to take that question abstractly. One key thing is if you’re
going to do this, be very serious about it and work at it. Make
yourself be that trader to thenth degree, to the infinite degree
because I think if you do that that’s where you’re going to find
success.