Old Posts Tagged with "Phantom-of-the-Pits"

These are Blog Archives
Here you can find links to old content I had on the blog, prior to switching to our group pages. Have fun looking around... some of it is pretty good! If you are looking for the best of the best posts from both the old and new eras, then go to the Articles Page. If you want the newest material, browse the public group (and the google waves associated with it).

Guest Post: POP Rule #2–Always Press Your Winners

Posted on April 3rd, 2007
Written by Prospectus

The Phantom of the Pits has two big rules. Rule #1 is this:
In a losing game such as trading, we shall start against the majority and assume we are wrong until proven correct! (We do not assume we are correct until proven wrong.) Positions established must be reduced or removed until or unless [...]

Guest Post: Reduce and Remove

Posted on November 5th, 2006
Written by Zoomie

I am a retired fighter pilot turned trader. A lot of traders accurately compare trading to flying. As a newbie wanna-be pilot learning to fly a small propeller aircraft, I had to heed my instructor’s every word. To ignore advice would have meant getting killed or worse- failing! I have done [...]

Guest Post: Wisdom From a Great Trader

Posted on October 23rd, 2006
Written by Zoomie

Arthur L. Simpson, the author of Phantom of the Pits (published in 1997), was an independent trader and a long-standing member of the Chicago Open Board of Trade at the time of writing. He may still be trading, I am not sure. He said that he considered the Phantom of the Pits to [...]