Millionaire Tradersup the charts on the positions that I have. I am actually putting in
a better multiscreen setup here now.
Q: How many screens do you look at usually?
A: Up to now I’ve done something people think is pretty wild, I
use one screen. [laughter] A 21-inch old CRT, but I’m switching
over to three 19-inch flat panels, to use with two computers. That’s
an unusual thing about me—I often do 50 trades a day and I
was doing it across one screen and people say how do you do
that? [Laughter.] I do a lot of switching—wouldn’t recommend
that to anyone—on the stocks I am most interested in, then check
for news. I go use the stock boards on Yahoo! There’s a lot of
knowledgeable people on some stocks like EGY and CWEI.
Q: What kind of a news services do you use?
A: I use Yahoo! It is my main source.
Q: Is most of your trading done in the first two to three hours of
the market between 6 and 9a.m.your time?
A: To an extent. As mentioned to you, I’m doing a lot more
option trading where I am looking for specific skews in the market,
searching for those all day long, whatever time they happen, I’ll try
to enter into some very low-risk trades on that.
Q: When you are talking about arbitraging options, are you look-
ing at discrepancies between the underlying and the option? Where
you could offset one with the other because there’s some skew that
you feel you can take advantage of? [Authors’ note:This is a very
sophisticated strategy that tries to exploit momentary mispricing
between the option contract and the underlying security. Often op-
tions value will be driven unnaturally high or low after a big order