Best products from r/thewallstreet

I picked the Jabra Elite 65t on sale at Best Buy a few weeks ago. They fit really well, and sound good. I was using a cheap ($20) pair of bluetooth headphones before and these are definitely a step up. So far I really like them.

https://www.amazon.com/Jabra-Enabled-Wireless-Earbuds-Charging/dp/B077ZGRVRX

https://www.amazon.com/Tojiro-DP-Gyutou-8-2-21cm/dp/B000UAPQGS

I have this and it is fantastic. Great value compared to MAC/Global and nicer looking than victronix. It is pretty large though if you were considering a 6" instead.

https://www.amazon.com/The-Complete-Tales-of-Winnie-The-Pooh/dp/0525457232

You will never find more wisdom than from pooh

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Piglet: “How do you spell ‘love’?”
Pooh: “You don’t spell it…you feel it.” —Winnie-the-Pooh

“Some people care too much. I think it’s called love.” —Winnie-the-Pooh

“Love is taking a few steps backward, maybe even more…to give way to the happiness of the person you love.” —Winnie-the-Pooh

“If there ever comes a day when we can’t be together, keep me in your heart, I’ll stay there forever."

“I think we dream so we don’t have to be apart for so long. If we’re in each other’s dreams, we can be together all the time.” —Winnie-the-Pooh

> Risk management isn't an add-on to your strategy, it's an integral part of it!

This is a crucial way of thinking. It took me a couple expensive lessons to learn it.
I want to show any new traders how essential it is, and maybe save them the same mistakes. Here's what helped me grasp it.

Imagine a series of totally reasonable trades:

• BUY SNAP Sept 30C @ $3.00
  
  
• SELL SNAP Sept 30C @ $4.75 (+58% +1.75/contract)
  
  
• BUY SNAP Sept 35C @ $1.50
  
  
• SELL SNAP Sept 35C @ $0.50 (-67% -1.00/contract)
  
  
• BUY SNAP Sept 30C @ $3.00
  
  
• SELL SNAP Sept 30C @ $5.00 (+67% +2.00/contract)
  
  
  Without any information about risk/cash management, there's no way of knowing how well the trader did.
  So, we shall imagine three traders using different cash management strategies to see how each one fares.
  
  The first, Mr. Gambler, will risk his entire capital on each trade. He begins at $30,000, he purchases 100 calls and closes the position to a new balance of $47,500. His next trade of 316 contracts brought him down to $15,900. After the final trade of 53 calls, his balance sits at $26,500.
  
  The second, Mr. Consistent, will risk 15% of his capital on each trade. He begins at $30,000, he purchases 15 calls and closes the position to a new balance of $32,625. His next trade of 32 contracts brought him down to $29,425. After the final trade of 14 calls, his balance sits at $32,225.
  
  The third, Mr. Safe, will risk exactly $4,500 on each trade. He begins at $30,000, he purchases 15 calls and closes the position to a new balance of $32,625. His next trade of 30 contracts brought him down to $29,625. After the final trade of 15 calls, his balance sits at $32,625.
  
  Of course, this anecdote is not my own. It's a very watered down version of an example written by Alexander Gluskin in this book.
  
  I really like this example because it shows a scenario where a trader's forecasting was good, but without any risk management it's not possible to stay profitable. I think a lot of traders focus too much on making sure their entries and exits are perfect, but not enough time on protecting themselves.

> Currently reading Think and Grow Rich. Pretty good book, even if a little over the top at times.

If you liked this, you may like The Celestine Prophecy

Looking for a little input here.

Looking to change up my trading station (battle station)

Anyone have good setups on their desk they prefer? I am working with a 13" retina MacBook Pro (late 2013 model) and am considering just using an additional monitor alongside it connected by HDMI. The monitor will be used for charting and MacBook for placing my orders, which I do on a separate account.

Right now I am just using the MacBook to trade and my iPad on my desk to stream Bloomberg, but I really think a second monitor will be beneficial at this point.

Here is the monitor I am thinking. Hoping 21.5" is enough for charting?

https://smile.amazon.com/HP-Pavilion-21-5-Inch-HDMI-Monitor/dp/B015WCV70W/ref=sr_1_3?s=pc&ie=UTF8&qid=1520701010&sr=1-3&keywords=monitor&th=1

Open to any and all input! Thanks guys!

I would love to pick your brain, I am researching land purchases to secure long term resource security for my family. I added you as a friend so I can find you :).

Is this the Steven Solomon book you are talking about? https://www.amazon.ca/gp/aw/d/0060548312/ref=tmm_pap_title_0?ie=UTF8&qid=1520702762&sr=8-1

This book was what got me interested in options and futures. It's cheap, less than 100 pages, and covers the bare basics. It's also super easy to follow and understand if you only read at a 5th grade level like I do. With pictures too!

If you have the money I’ve heard of people having great results from stem cell injections. Also like FDLife said, hanging is great for your shoulders and I’ve personally gotten good results from this for shoulder pain. The book “Shoulder Pain? The Solution & Prevention” by John M. Kirsch, MD is worth checking out.

I love Microsoft ergonomic keyboard and mouse, works great with a hackintosh.

Microsoft Sculpt Ergonomic Mouse (L6V-00001) https://www.amazon.com/dp/B00D68ZVY8/ref=cm_sw_r_cp_apa_4215Bb6VNSHND

Yeah it would. The new ones have some nice digital stabilization.

I'm probably going with a Sony because it has optical stabilization and I've heard great things about it vs. the Go Pro.

This is what I consider the Fixed Income Bible. It's literally written so anyone from professionals to newcomers can understand. I've also seen professionals use it as reference guide.

After reading that, move to this one. FI is all about rates and understanding rate derivs is an important aspect for trading them. This book'll show you how IRS are priced, swaptions, etc. Good one too and high recommend.

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If you're looking for more esoteric material, that's only published by the big banks like JPM, DB, BofAML, etc.. Hard to find it on Amazon.

My TA professor in college made us buy his book. It's pretty good

You may be able to find a PDF file online, but I'd buy the book to support the guy. He was a cool professor.

Thanks for sharing man.

I would adopt a strict money management system. An example could be the 2% & 6% rules referenced in the Trading for a Living Book. Is it boring? Yep. But it keeps you in the game so you can learn. If you blow out an account you are much less likely to keep trading and learning.

I don't know where this came from but there is a saying: There are old traders and there are bold traders. There are no old and bold traders.

I am looking for a new SSD as well. Going on r/buildapcsales rn

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Edit: Shopping done, gonna be picking up this with my various amazon gift cards-https://www.amazon.com/dp/B0781Z7Y3S/ref=twister_B07P5VF5TL?_encoding=UTF8&psc=1

In addition to Mr.ShortStrangles' book

This is the industry standard


You can find the pdf if you look.
Its also like 600 pages long & I gave up 250 pages in. I intended to come back to it ^eventually. Just decided to try & create a different strat right now.

Thats a good looking monitor! Im thinking about picking this bad boy up myself soon. https://www.amazon.com/LG-25UM58-P-25-Inch-21-UltraWide/dp/B01BV1XB2K/ref=sr_1_3?s=pc&ie=UTF8&qid=1524956041&sr=1-3&keywords=widescreen+monitor

https://www.amazon.com/gp/product/B07BHM7Z4Q/ref=oh_aui_detailpage_o08_s00?ie=UTF8&psc=1 I LOVE these. Don't let the cheap price fool you. These are phenomenal sound quality. I prefer these to a few $300 headphones I have owned.

Check out this. (It's on the sidebar)

https://www.amazon.com/Option-Volatility-Pricing-Strategies-Techniques/dp/155738486X

It's like the Bible of options trading