Bad Trade?!

Posted by Jeffery D. Saut

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“I asked the obligatory question:  ‘How do you decide when to make a trade?’ Through experience,’ he says, propping his foot up on a small fold-out seat screwed to his post. ‘Over the course of eighteen years as a specialist, I’ve had every type of experience up market and down market, people getting shot, wars, you name it – and you learn how to react based on those experiences.  I guess I’ve had everything happen, and I guess you store it in the computer in your head.  You don’t have a lot of time to decide, that’s for sure.  And you have to anticipate.  You have to look at the tape and anticipate – two months or three months, maybe a day or so, maybe two or three seconds before someone else.  That’s what makes you a good trader . . . People talk a lot about their bellies.  I guess that has something to do with it too.  You do feel something in yourgut.”

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