I suspect there are many disgruntled and frustrated people here
on this site and just about everywhere else. I have read on many
forums on how difficult this market is to trade. Before we hang
Ducati out to dry, he is just another trader who is struggling to
make sense of it all. Anyone who has been trading for a few years
has been in his position unless you are some sort of trading guru.
Let me share my trading journey with you through the various
newsletters that I have subscribed to in the past. My first paid
website was the Motley Fool website where I subscribed to 3
newsletters - Rule Breakers, Stock Advisor and Hidden Gems. I could
never make consistent money with them as I did not have the
patience and mind set of a long term buy and holder. So I ceased my
subscription. I then subscribed to the Aden sisters gold newsletter
which once again was a longer term type newsletter and a big
picture newsletter which I could never make money from so I stopped
subscribing to them. Thereafter followed a plethora of newsletters
some of which I have forgotten - but they include Robert Miner's
Dynamic trading newsletter (couldn't make sense of his system), one
of Joe Ross's many newsletters - this one on spread trading if I
remember correctly - could never get the fills and exits that he
seemed to get, a paid private forum in Australia which was great to
network with other traders but did not get a lot from the
experience money wise, Michael Ashbaugh's trading newsletter etc
etc...... As you can see my journey was a long and expensive one.
It has probably taken me 10 years to be consistently profitable in
this game, but I believe that I had to go through all these
experiences to find out where my niche was and how to trade it.
Trading is not easy and not for everybody. Just because there are
some who make a very good living out of trading does not mean that
can be automatically transferred to others. Sometimes you have to
just admit to yourself that trading is not for you. We are all on
this very difficult path so some support for each other would be
helpful.
As for Matt and Steve, keep up the great job. I find the
newsletters and commentary helpful and beneficial to my
trading.
Good question Richie. My view on mining stocks is that they are
not a good long term hold. Coming from Australia, most of our
market is dominated by mining companies. You only have to take a
look at our various indices to see that we have really been under
performing the us market for the best part of this year. The mining
companies have relatively poor yield as well so they are not great
from the dividend perspective either. The share prices of miners
are very cyclical. I find that they are good to trade short to
medium term, but not good for a long term buy and hold strategy.
That's my take anyway. As for gold and silver, have you considered
buying etf's? That way you get exposure to the price of each metal
without having to purchase the physical.
Where do I sign up Matt. Would love to be in a "trading room"
with other futures traders as I trade futures exclusively. Also
would love to pick the brains of someone who has made a successful
career in it as well. Please keep me informed
Thanks Steve. That is a very clear cut chart. I tend to agree
with your observations there especially the break through the 200
ma and then subsequent resistance
I don't trade TLT or TBT as such, but I trade the futures
contracts - either ZN ( 10 year treasury note) or ZB ( 30 year
bond). To me , I was also expecting a bearish scenario, but the
last few days price action in the bonds has me more bullish. In the
ZN chart especially, I see the price broke down through the August
lows at around 145'27 last week, but has since rallied back above
that resistance/support level. To me, this is a classic "fakeout"
type pattern and can result in quite strong moves.
I think the vast majority of subscribers here will be
disagreeing with you mfogli. If anything Steve and Matt have to be
some of the best newsletter presenters on the net IMO. I should
know - I have subscribed to heaps of them. If you think Matt and
Steve are bad - try subscribing to any of the Motley Fools
newsletters - some of their newsletters have been seriously
underperforming (by my metrics anyway - not theirs). They do
apologise but then smash you with tons of advertising material
touting their latest and greatest and how David picked AMZN back in
1989 and it has grown 1000% - wow.
The community is delayed by three days for non registered users.
Only 1000 charts matt- clearly
New Trade Ideas
Posted by payday on 29th of Nov 2012 at 02:49 am
Only 1000 charts matt- clearly you are not working hard enough
That's impressive
ERX/XLE swing system
Posted by payday on 21st of Nov 2012 at 02:30 am
Quite an impressive win/loss ratio there matt. Will be interested to see the results for the erx. Thanks for the hard work matt
A trader's journey
Posted by payday on 16th of Nov 2012 at 01:29 am
I suspect there are many disgruntled and frustrated people here on this site and just about everywhere else. I have read on many forums on how difficult this market is to trade. Before we hang Ducati out to dry, he is just another trader who is struggling to make sense of it all. Anyone who has been trading for a few years has been in his position unless you are some sort of trading guru. Let me share my trading journey with you through the various newsletters that I have subscribed to in the past. My first paid website was the Motley Fool website where I subscribed to 3 newsletters - Rule Breakers, Stock Advisor and Hidden Gems. I could never make consistent money with them as I did not have the patience and mind set of a long term buy and holder. So I ceased my subscription. I then subscribed to the Aden sisters gold newsletter which once again was a longer term type newsletter and a big picture newsletter which I could never make money from so I stopped subscribing to them. Thereafter followed a plethora of newsletters some of which I have forgotten - but they include Robert Miner's Dynamic trading newsletter (couldn't make sense of his system), one of Joe Ross's many newsletters - this one on spread trading if I remember correctly - could never get the fills and exits that he seemed to get, a paid private forum in Australia which was great to network with other traders but did not get a lot from the experience money wise, Michael Ashbaugh's trading newsletter etc etc...... As you can see my journey was a long and expensive one. It has probably taken me 10 years to be consistently profitable in this game, but I believe that I had to go through all these experiences to find out where my niche was and how to trade it. Trading is not easy and not for everybody. Just because there are some who make a very good living out of trading does not mean that can be automatically transferred to others. Sometimes you have to just admit to yourself that trading is not for you. We are all on this very difficult path so some support for each other would be helpful.
As for Matt and Steve, keep up the great job. I find the newsletters and commentary helpful and beneficial to my trading.
Peace out
Mining stocks
Important question about the gold mining stocks
Posted by payday on 15th of Nov 2012 at 08:00 am
Good question Richie. My view on mining stocks is that they are not a good long term hold. Coming from Australia, most of our market is dominated by mining companies. You only have to take a look at our various indices to see that we have really been under performing the us market for the best part of this year. The mining companies have relatively poor yield as well so they are not great from the dividend perspective either. The share prices of miners are very cyclical. I find that they are good to trade short to medium term, but not good for a long term buy and hold strategy. That's my take anyway. As for gold and silver, have you considered buying etf's? That way you get exposure to the price of each metal without having to purchase the physical.
Where do I sign up
Futures Trading
Posted by payday on 12th of Nov 2012 at 08:05 pm
Where do I sign up Matt. Would love to be in a "trading room" with other futures traders as I trade futures exclusively. Also would love to pick the brains of someone who has made a successful career in it as well. Please keep me informed
Thanks
Good chart
What the three peaks and a domed house guy is saying
Posted by payday on 9th of Nov 2012 at 03:36 am
Thanks Steve. That is a very clear cut chart. I tend to agree with your observations there especially the break through the 200 ma and then subsequent resistance
Possible reverse h&s setting up on crude oil futures
Posted by payday on 18th of Oct 2012 at 04:51 am
Watching for a decisive break of the 50 ema here. Might be a bit of a runup here if it can break out
Trending indicator
SPX RSI 2 reversion to mean system
Posted by payday on 15th of Oct 2012 at 06:14 pm
What is the trendiing indicator Matt? Is it a moving average of some type?
Thank
LOL - here am I
Bottoming POS plays
Posted by payday on 20th of Sep 2012 at 06:53 am
LOL - here am I thinking Matt was referring to point of sale stocks which made absolutely no sense!
What's POS? Is that a
Bottoming POS plays
Posted by payday on 19th of Sep 2012 at 11:22 pm
What's POS? Is that a sector that I haven't heard of?
I don't trade TLT or
TLT
Posted by payday on 19th of Sep 2012 at 08:19 am
I don't trade TLT or TBT as such, but I trade the futures contracts - either ZN ( 10 year treasury note) or ZB ( 30 year bond). To me , I was also expecting a bearish scenario, but the last few days price action in the bonds has me more bullish. In the ZN chart especially, I see the price broke down through the August lows at around 145'27 last week, but has since rallied back above that resistance/support level. To me, this is a classic "fakeout" type pattern and can result in quite strong moves.
Nothing market moving wise. Why?
Aud
Posted by payday on 16th of Sep 2012 at 11:54 pm
Nothing market moving wise. Why?
Ivor bad feeling -classic lol
us aussies a bit behind but we catch on eventually.
Posted by payday on 13th of Sep 2012 at 08:52 pm
Ivor bad feeling -classic lol
Wonder what prompted that spike
Posted by payday on 26th of Aug 2012 at 09:33 pm
Wonder what prompted that spike down in the Aussie?
Zach - what is a
Interactive Brokers... Another one to watch out for??
Posted by payday on 18th of Aug 2012 at 08:46 pm
Zach - what is a credit spread? and how do you initiate it with IB
Thank
I suppose you won't be renewing your subscription then?
Market Comments
Posted by payday on 2nd of Aug 2012 at 07:05 pm
I think the vast majority of subscribers here will be disagreeing with you mfogli. If anything Steve and Matt have to be some of the best newsletter presenters on the net IMO. I should know - I have subscribed to heaps of them. If you think Matt and Steve are bad - try subscribing to any of the Motley Fools newsletters - some of their newsletters have been seriously underperforming (by my metrics anyway - not theirs). They do apologise but then smash you with tons of advertising material touting their latest and greatest and how David picked AMZN back in 1989 and it has grown 1000% - wow.
father in laws
Tyson
Posted by payday on 2nd of Aug 2012 at 06:56 pm
The only way to keep your father in law happy is to look after his daughter!
The ECB and the almighty
What happened? Big pop and drop in the premarket
Posted by payday on 2nd of Aug 2012 at 08:43 am
The ECB and the almighty MArio Draghi is speaking
And back out the other
ES triangle forming
Posted by payday on 2nd of Aug 2012 at 08:41 am
And back out the other side - I love this market
Breakout
ES triangle forming
Posted by payday on 2nd of Aug 2012 at 08:34 am
And she pops to the upside