12 Bizarre Things Wall Streeters Do To Be Better Traders - News and Current Events | futures io social day trading
futures io futures trading

12 Bizarre Things Wall Streeters Do To Be Better Traders
Updated: Views / Replies:265 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Thread Tools Search this Thread

12 Bizarre Things Wall Streeters Do To Be Better Traders

  #1 (permalink)
Elite Member
Aurora, Il USA
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
kbit's Avatar
Posts: 5,886 since Nov 2010
Thanks: 3,304 given, 3,334 received

12 Bizarre Things Wall Streeters Do To Be Better Traders

Wall Street has gone to some extreme lengths to get rich. In the hyper-competitive environment, everyone needs to be smart, fast, and ruthless.

Ask any trader, and they might have their own ideas about how to get an edge on everyone else beyond just hard work.

We're talking about stuff that borders on the superstitious. From group habits to strange idiosyncrasies, Wall Streeters have opted for some unorthodox methods to try and improve their trading.

Here are some of the most bizarre things people have done, all in the name of the trade.

Eat the exact same thing for lunch every day.

A trader at Steinhardt, Fine, Berkowitz & Company, named Frank "Tony" Cilluffo, used to think that his lunch could directly correlated to the market.

When he was making money, Cilluffo would order the exact same lunch every day until the market turned. For two years, he ate only two toasted English muffins with jam for lunch. At the switch, he then went to cream-cheese-and-olive sandwiches for a long period of time.

Avoid that one unlucky bathroom stall.

A bond trader from the Chicago Mercantile Exchange said there was one bathroom stall at work he always avoided, because "It has a really good track record for losing money."

Avoid using red pens.

James Park, a trader at Brean Murray & Co. told CNNMoney that he never writes with a red pen, because red means loss. He said he also keeps his desk very organized. The more organized his desk is, the better his trades will fare.

A male trader might take female hormones.

In 2007, a former SAC Capital junior trader Andrew Tong filed a sexual harassment lawsuit against the firm, in which he stated his boss Ping Jiang made him take female hormones as part of a "training program."

According to Jiang, this was to make his traders more effeminate and less aggressive at work. Tong said he then started taking female hormones he bought on the black market. He was fired in 2006 for losing $3 million in a failed trade.

Or a male trader might amp up his testosterone level.

According to CNBC, “aging traders and executives — and aging on Wall Street means 30 and up” are increasing their testosterone levels in order to stay in the game.

Testosterone levels tend to decline for men over the age of 30, making them feel “sluggish” with “muscle aches, belly fat, low stamina, low sex drive and lack of focus.”

By increasing testosterone levels, older traders aim to reverse these effects.

Build an aquarium.

In a bear market, one stock trader thought buying more fish might help his trades. Brett Gallagher, head of U.S. equities at Julius Baer told CNNMoney that after his fish died the market went down. He cited one portfolio manager who swore by his self-contained eco-system for his success, with shrimp and plants and the like.

Smoke weed during work.

A customer rolls a joint made of half marijuana and half tobacco to smoke inside of Frankie Sports Bar and Grill in Olympia, Washington.

One friend in trading listed smoking marijuana as a trick to better trading. It's supposed to soothe your nerves, and help calm you down at work.
Avoid trading stocks with cute names.

Josh Brown from The Reformed Broker blog said avoiding cutesy stock names, such as EAT, HOG, MOO, LUV, COOL, FUN, and others, is one superstition passed around Wall Street.

Keep lucky inanimate objects.

In "Trader: The Documentary," Paul Tudor Jones whips out a couple of good luck charms on the trading floor, including an inflatable Godzilla to "ward off all the bears back into their dens," and a pair of tennis shoes that once belonged to Bruce Willis.

"These tennis shoes, the future of this country hangs on them," Jones said. "They've been good for a point rally in bonds and about a thirty-dollar rally in stocks every time I put them on."

Don't sell when your stock is passing $90.

Some traders will hold off on selling stock as it increases past $90 every time, because of the belief that if a stock passes $90 per share, it will almost always make it to $100.

According to Josh Brown, although there is little evidence to confirm this theory, some Wall Street veterans still follow it faithfully.

Play a high stakes game for hours.

Hedge fund manager John Meriwether started the Arbitrage Group at Salomon in 1977. He would have all his employees play liar's poker for hours, believing it honed their instincts and made them better traders. Bets could run up to tens of thousands of dollars, and they kept an envelope with hundreds of single bills on hand.

Some thought all the Arbitrage traders became addicted to betting on anything. "You could never go out to dinner with J.M.'s guys without playing liar's poker to see who would pick up the check," Salomon's CFO said.

Never trade on certain superstitious days.

Brown also names a couple superstitious days that traders avoid:

“Never buy or sell on the third Friday of the month which is when monthly stock options expire. And no matter what you do, stay away from everything on the four Triple Witching days of the year, when stock option, stock index options and stock indexes futures all expire together,” he wrote on his blog.

BONUS: Two traders built a robot that trades on numerology and astrology.

In 2012, Jim Hunt and Shing Tat Chung created an automated trading system that traded based on lunar phases and unpopular numbers. Named "Sid the Superstitious Robot," it would never trade anything to do with the number 13, and sells like crazy during a full moon. New moons are great though, according to Sid.

The robot also has the ability to generate new beliefs, based on new correlations and patterns it discovers in human behavior.

Read more: Bizarre Ways To Be A Better Trader - Business Insider

Reply With Quote


futures io > > > > 12 Bizarre Things Wall Streeters Do To Be Better Traders

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

July Journal Challenge - $500 in Amazon Gift Cards!


Battlestations: $750 in prizes - Show us your trading desk!


TBA: FuturesTrader71 w/Morad Askar

Elite only

Similar Threads
Thread Thread Starter Forum Replies Last Post
Is Wall Street on Santa's List? 'Things Could Go Either Way' Quick Summary News and Current Events 0 November 22nd, 2012 12:40 PM
Traders React: Expect a Facebook Phone in 12 Months Quick Summary News and Current Events 0 July 26th, 2012 09:20 PM
'Bad boy' of Wall Street gets 12 years in prison over $140m investment scam kbit News and Current Events 0 May 4th, 2012 03:05 AM
BMT Meetup at LA Traders Expo, Pasadena, June 9-12 shodson Traders Hideout 3 May 31st, 2010 02:25 AM
Things that may help newer traders GarryM Traders Hideout 6 August 27th, 2009 12:05 PM

All times are GMT -4. The time now is 06:00 AM. (this page content is cached, log in for real-time version)

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2018-07-21 in 0.10 seconds with 14 queries on phoenix