Bloomberg TV Appearance 2 Clips Aug. 24, 2012

  Clip 1                                                          Clip...

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TraderPlanet.com Article by Jack Schwager

A Market Wizards Dozen: Key lessons for All Traders August 23, 2012

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Barron’s Review of Hedge Fund Market Wizards

Market Magicians Lessons from hedge funds Reviewed by Brendan Conway

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#19 JUNE 28, 2012 SHORT DESPITE SHARP NEWS SPIKE RALLY

Situation–Went short S&P on limit order near top of flag forming near low end of trading range, looking for downside breakout. Used 4-cent stop. This was reasonable trade. Noticed there was sudden sharp rally, which turned out related to news of decision to support Spanish banks. Market stalled near entry. Considered lowering stop sharply or getting out but stayed with original stop and was stopped out as rally carried much further. Mistake—Sharp rally occurred between US close and Europe open on big news item. At a minimum would have needed to allow for news to impact the next...

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#18 MARCH 2012 THE MONSTER MISTAKE: THE INADVERTENT TRADE

Situation: I had initially gotten long when market lower by buying FXI calls. As market rallied, I hedged by scale-up selling in NQ, QQQ, XRT outright and long puts, anticipating a potential high in those markets. I thought I was approximately neutral. But then in March, equity starting evaporating as FXI weakened at same time Nasdaq and XRT stayed firm and even moved higher. Although I had not intended to place a ratio spread trade (or even generated this chart until damage was done), that is the trade I had inadvertently backed into. As losses accelerated with losses virtually every day,...

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