About the Piker

I started my trading journey in 2002-2003 making my first trade with E-Trade after reading a few books like William O’Neils How to Make Money in Stocks. After trading 10 shares of MSFT I decided to trade for real.

Prop Trading:
After Graduating College, I went on to be a prop trader in New York City. I was going to crush the market and make $100,000 a year and drink Cristal. I passed my Series 7 and start prop trading in 2006. I quickly saw how hard trading was, and that it wasn’t just trading it was the mental game of it. I traded for about a year and a half before I left. I was profitable a total of 3 months. After blowing through my savings and the drain of going into the City each day to lose money it got to be too much. You also see the people around quit and find a jobs or look at the “profitable guys” and hear about they miss rent or are just miserable. This isn’t everyone and I know people make it but this was my experience.

Trade Support:
So I got myself a real job, with a salary working as trade support for a broker. During this time I would get locate for traders to short, break trades, manage PnL and set parameters. Seeing how so few traders made money was eye opening. We were constantly using traders loss limits to taking deposits to set up their accounts again. At this point I knew I couldn’t go back to day trading.

Creating the Signal
After swing trading and going back to Grad School, I realized chart patterns or RSI, Stochastic, MACD are not accurate and can go through extremes and still not give you signals. By studying and analyzing market breadth charts, I began to see a pattern on certain indicators. I began to review, merge and test the data to come up with a indicator or the Piker Signal!

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