HN user

schemer

15 karma
Posts1
Comments15
View on HN
[dead] 17 years ago

LOL. Read the comments and the India/Pakistan conflict goes global over the internet.

All I can say is that 8/10 are losers is highly improbable. Given no other information, if you enter a trade there is a 50/50 chance that the next tick is going to be up or down. But notice I said given no other information, there is much more information from the behavior of the charts. If you are a small player the charts will help you be right more than 50% of the time. The rest is how your algorithms and trading methodology take advantage of the information.

10K is too little. Statistically speaking, a small draw down can wipe out your acount. Most professionals have stop losses to limited their loss to 1-2% of their account. Google "trading money-management". You probably want to paper trade for a while before risking real money. If you are really interested in markets you can follow it as a hobby while working as a programmer. I used Interactive Brokers for trading futures, fx, options and stocks. They are low-cost and provides an API for automation. I write java code for my own personal "proprietary desk trading".

The article wants to portray Paulson as a likable guy. However, I will never forget that he help his old firm Goldman Sachs steal trillions from the pockets of the American people. For this is what he should be remembered in the history books.