Lessons learned in Chicago from experienced traders

 

 

This week I visited Chicago and with experienced traders covering different products and in different structures.  I visited with traders at hedge funds, prop firms, broker dealers, trading education centers, independent traders, exchanges, and institutions.  These seasoned veterans expressed their ideas in options, futures, stocks, automated trading, and international markets.  There was a lot to learn.

Here are some lessons from my visit:

1) The market is not set up to trade as you would like.

2) Traders can go from “I quit” to award-winning trader.

3) Often the first question you must ask to improve is: What do I want from the market?

4) The traders who make it do more than the firm asks of them.

5) Empower someone to stop you out for the day at a loss where nothing good rarely happens past.

6) There are traders making big money in many different ways.  Some of these numbers are eye-opening.

7) If you get the opportunity to trade pro, make the most of the opportunity.
*no relevant positions