Senior Market Strategist
Contact Jim Barrett
Series 3 Licensed
Jim began his career back in January of 1976 at the Mid America Commodity Exchange, trading grains. He moved over to the Chicago Board of Trade in 1980 and started spread trading the then-new Treasury bond contract. Jim remained a local on the CBOT floor over the next 12 years, alternating between the soybean and bond pits. In the early 1990s he made the tough decision to move off the floor in order to build a brokerage business. In 1995 he joined Lind-Waldock. Many of his earliest clients remain active traders and those longer-term relationships are the best aspect of the job. Jim holds a BA in Economics from the University of Wisconsin-Madison.
Jim likes to focus on big markets. He favors the agriculture and financial markets.
Jim likes to focus on big markets. Identifying markets showing trend characteristics is where he feels the individual trader can get an edge. He begins the day doing research and visiting websites such as Bloomberg, Wall Street Journal, NY Times and Financial Times. From there, he turns to the vast research resources offered through RJO.
Strengths and Trading Philosophy
Since he began his trading career as a spreader, he still looks for spread positions to capture and hold longer-term stances in fast-moving situations. Another focus of his is using option strategies for trending markets because of their built-in money management feature. He also uses market profiles and old fashioned point-and-figure charts to spot advantageous trade locations for responsive trades, and as a decision aide for placing entry stops for markets with the potential of undergoing major price breakouts. Jim believes that once a client enters a trade, a structural stop protection is recommended on all positions to help protect capital and any potential profits. The goal is to catch important price adjustments.
Price action rules the roost, so my job is simply to recognize where there's a flow and hop on with a stop. Computer-assisted momentum studies are carefully followed, but price action is what to respect.