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Joseph Souhlakis began his career in commodities in early 2000 when he took a clerk job on the NYMEX for MBF clearing corp. Joe acted as risk and position manager for some of the most successful traders in the Crude Oil and Heating Oil pits for over 3 years. In 2003, with the backing of Mark Fisher and MBF Clearing Corp., Joe became a NYMEX member and began his trading career, trading calendar spreads and crack spreads in the Heating Oil Pit. Joe remained as a house trader for MBF Clearing Corp., until January 2007 when he became an independent trader, which he still does to this day.
In January 2008, Joe made the full time switch from floor trader to electronic trading from home, which he successfully does to this date.
A few words about Joe Souhlakis from Jim Dalton:
“As a trader, observing markets and how they develop has certainly had its rewards as a trader. However, as an educator and mentor, what has produced more rewards is watching a few clients steadily develop into professional traders. What separates most is the difference between intentions and actions; Joe Souhlakis has consistently backed up his intentions with the study and dedication that is required to make the transition.
Most traders that come from a background on exchange floors bring with them a tendency to overtrade; on the floor this may work as you are buying on the bid and selling on the offer; trading from off of the floor reverses that advantage as you are buying on the offer and selling on the bid. The same pattern that was employed on the floor works strongly against a trader off of the floor; I watched Joe work through this process as he learned to be selective in the trades that he executed. It takes a strong commitment to make this change. The dedication to make the necessary changes cannot be overstated.
Successful off floor trading requires substantial preparation—homework; again, the difference between intentions and actions is very wide. While Joe subscribes to our pre-market updates, what differentiates Joe is that he does his own preparation first and uses our work as a measure to check his progress.
Successful trading requires confidence; I knew that Joe had acquired that confidence when he was invited to join a group of ex floor traders, most of whom had been highly successful. Joe happily accepted; however, within a few weeks Joe realized that he had acquired his own trading discipline and work ethic and elected to remain independent.
Joe has been through the process and has emerged a successful trader; this takes tremendous time and commitment. Joe’s work will help you on this same journey.”