Archive for June, 2010

As this journal reaches its second birthday, and both traffic (+20% in last month per and twitter (   followers at 600+) are once again spiking, I thought it would be helpful to provide a snapshot of the top onlooker visited posts as ranked by Google Analytics (which excludes my personal visits).

#1 – Cornerstone – The 7/4/08  ”fictitious drawdown” light bulb post that was one of the main reasons I launched the blog, and which became a central theme of my trading during the record 08-09 runs.  By far, this is the most often referenced link, outpacing #2 by about 4-1.

#2 – Chinese Bamboo Tree – One of the most powerful concepts I’ve been exposed to in my 49 years, which has had a profound impact on me in recent years.  It’s also incredibly listed #5 in the world if you Google “Chinese Bamboo Tree”.
#3 – A Night to Dance – The 2008 Year-End post which was always designed more to motivate others than tout my personal victory.  And yes, I visit it on occasion when I need that confidence boost.

#4 – CME Pricing Thoughts – An analysis restating 2008 results for non-CME member rates.  See below for a better and more up-to-date analysis.

#5 – 2008 Statistics – A rare in-depth look into a professional trader’s detailed trading stats for a full year.  Likely the only time you’ll see such a public analysis due to confidentiality and industry mis-use.

Top 2010 (If Not Included Above):

#1 - MoneyShow Interviews – Links for the four interviews I gave just before speaking at this year’s NY Trader Expo.

#2 – E-Mini Commission Analysis – An in-depth analysis I did to compare various trader commission alternatives verified by MF Global and the CME.  To my knowledge, the only place you’ll find such an analysis on the web, so take advantage of my legwork to avoid having to do your own.

#3 – Replay of 2010 NY Expo Presentation – A Livestream replay of pertinent portions of the Feb 2010 presentation to a packed house in NY.

#4 – There’s No Crying in Trading – Personal perspectives and bruises immediately after the 5/6 flash crash.  Also the #1 ranked video and most accessed day of the year.

#5 – Keys to the Castle – Critical lessons from the inaugural Jellie team participantsA must-read due to (1) my personal conviction, and (2) as stated by the flood of emails I received.

And a reminder that a list of key posts which I believe should be of particular note for all traders can be found in the lower left-hand margin.

If you’re new to this site, welcome.

If you’ve been with us since we started, remember that repetition can be a good thing.

Enjoy the rest of your weekend.

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Please note this is an imported key post from the initial Don Miller Journal.  You can find the initial post here.

His record as a coach was unmatched. 

His record as a human being may be as well.

- A 99 year life.
- An 88 game winning streak.
- 10 national championships in 12 years.
-  A 38 game NCAA Tournament winning streak
- The best coaching record in the history of basketball.
- A Christian and a gentleman who took the Midwest, one-room schoolhouse values to a west coast campus in disarray and moral decline in the 60′s and changed its world.

With this weekend’s passing of basketball coaching legend John Wooden, let’s look back at some of his memorable quotes — which aptly apply to the world of traders and their coaches — with my thoughts in italics:

Be quick but don’t hurry. Wholesale (a.k.a “profitable”) trading is all about timing.  Wait for the wholesale price positioning and only then grab it quickly with both hands.

A coach is someone who can give correction without causing resentment.  I can do better here.

Adversity is the state in which man mostly easily becomes acquainted with himself, being especially free of admirers then.  Can you say October 6, 2008 or May 6, 2010?

Be more concerned with your character than your reputation, because your character is what you really are, while your reputation is merely what others think you are Amen.

Do not let what you cannot do interfere with what you can do.  Suck at DAX trading?  Stick with ES!

Don’t measure yourself by what you have accomplished, but by what you should have accomplished with your ability.  As I’ve said before, it’s not greed … it’s maximizing talent.

If you’re not making mistakes, then you’re not doing anything.  I’ll simply add that if you’re not making mistakes, then you’re six feet under.

It’s what you learn after you know it all that counts.  Been there … and frequent the neighborhood often.

Never mistake activity for achievement.  If you think you’re a good hyperactive scalper, does your bottom line concur?

Success is never final, failure is never fatal. It’s courage that counts. Again, been there and expect to visit often.

Winning takes talent, to repeat takes character.  Personal lesson learned in 2009.

You can’t let praise or criticism get to you. It’s a weakness to get caught up in either one.  Another personal lesson learned from years of public exposure.

Success is peace of mind which is a direct result of self-satisfaction in knowing you did your best to become the best you are capable of becoming.  Never let anyone else define your success or peace of mind.

And my personal favorite:

You cannot attain and maintain physical condition unless you are morally and mentally conditioned. And it is impossible to be in moral condition unless you are spiritually conditioned. I always told my players that our team condition depended on two factors — how hard they worked on the floor during practice and how well they behaved between practices.  This last quote shows me just how much more work I have to do at this end — on the trading floor and in life.

Please save a seat on the heavenly bench for the rest of us John, as we continue our practice in this pre-season called life.

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