Yeah, but the DJIA and SPX are still up a little. Seems not only is he not a very good trader, but got sent to time out by the SEC. Hm, Fox wants to have him back on.
Who is Sully?
- I was a derivatives trader at Scudder, a major buy-side financial institution. At one time, believe it or not, I actually swung a fairly big stick.
- In 1998, I got in trouble with the SEC and they sent me to the sidelines for five years. Some of it I deserved. I never took, nor tried to take, a dime from anyone. It was all about winning. That's all I can say about it. That's all I want to say about it.
- In March 2000, my left lung collapsed and I spent 16 days in intensive care, complete with last rites.
- So, here I am, short a career and some lung capacity....ready to trade.
- Trader In a Fishbowl? Yeah, I'll admit it's unusual. But the idea is a perfect fit for me.
- First and foremost, it challenges the premise that you have to be very smart and very serious (a la Wall Street) to make money trading. I am neither.
- I am, however, very psyched about following the markets again everyday. I love to trade. I really do. Love the pace. Also, at this stage of the game, I want to know if I'm any good.
- I want to be held accountable. Daily scorecard - black and white, win or lose.
- Nothing pisses me off more than some big time Wall Street mouthpiece on television saying "Remember when I said this," or, "As you may recall, I said that." Bullshit. Total bullshit.
- I'm a technical trader - always have been, always will be. I'm not stupid enough to completely ignore certain fundamental developments, or to proclaim "my way is the only way," but as I see it, all available information is captured in the current price - be it a stock, bond, commodity, or currency.
- I routinely scan the global financial markets for trade opportunities. I enjoy it. Typically, I look to initiate positions (long or short) that have what I consider 3-to-1 or 4-to-1 (minimum) risk-return profiles. Put another way, make bets where the payoff is worth it.
- I always trade with a stop-loss. Always. Learned the hard way. There's no substitute for discipline in this game.
- So, check your ego at the door, cut your losses when you're wrong, and let your winners run. My God, if it was only that easy...
AI
Market Data 
Markets 
