If the housing meltdown has not sealed the Chicago School of economics fate, I do not what will.

I remember have a lively discussion about this with some newly minted MBA’s years ago. We always need those guys to be on the other side of our trades.

Well, I am back to trading options. I am still trading futures, but I still missed options and I have been back to trading for the past month. I had a great month, and I will start posting my journal.

I just came across this deal, and was wondering what people thought.

No salary or draw
80% payout.
No Capital contribution
Commissions are $0.70 per contract

Seems pretty standard, although the commissions seem a little high with an 80% payout.

I just ran across a site the Retarded Trader. Besides being , ummmm, tasteless to the handi capable, it seems to be actually run by ‘trading challenged’ traders.

These guys are trading like drunken monkeys. In six weeks, both traders had a 50% drawdown, given that one had been up 100% and the other 70%.

Here are some of the things they are doing wrong.

[1] Constantly buying short theta and positions
[2] Trading with out a plan
[3] Position sizing is horrible.
[4] Not spreading
[5] Daytrading with less than 5K.
[6] Trading on hope, and hope is not a trading plan.

Now, I should say, the site looks good, and I like the site. I wish them the best and I hope they learn to trade sooner than later.

I am going with jmemorizeto memorize topics for the series 65. I have to use something, the series 65 is really putting me to sleep. The stuff I know, like options and equities I love. The stuff I don’r like , insurance, puts me to sleep.

I will post my flashcard deck when I am done.