Trading For a Living ... Without Being a Trader

[fielddean]

I use Barchart.com too. I think it is good.

[afurrypanda]

i am a really good currency trader. i just pick a random currency and i usually win, its not investing its gambling, but hey its fun.

[VivaMydick]

Dan what do u think of GM stock ? earning per share a minus $ 19.10 :) divident 24.27 % paying $1 per share .Good buy ? Goverment will not let them collapse , will they ?

Never seen anything crazier than thet .

[AirelonTrading]

Honestly ... I'm not going near the auto's right now, no matter how good the numbers look. I own a little Ford from $6.55 from years ago, but I'm going to dump it as soon as is profitable.

I just have this strong aversion to mercantilism.  There's money to be made there, but I'm looking elsewhere.

:)

As far as stocks right now? I'm waiting to see how bad deflation will get, and then I'm really, really itching to add more JNJ to my DRIP portfolio.

[AntiBullS]

if money is debt ,then why everyone wants to have more of it ? Does not make sense . We must get rid of these money changers or they will destroy enslave and degrade all of the humanity .

[AirelonTrading]

I think there is a really, really good reason why Jesus went after the money changers and the userers inside the temple, driving them out.

:^)

[AntiBullS]

taken from Forbes magazine | A quick dollar devaluation would work wonders for submerged borrowers Dont kid yourself: It could happen

[AntiBullS]

By Jon Markman

If 2008 often felt like a nauseating but endurable ride, as government and banking authorities grappled with unseen forces that rocked the investment world, then 2009 will be the year that distress becomes so great that investors actually lose their stomachs

The past year may have been about the loss of confidence, but the coming year will be about the loss of hope

[AntiBullS]

all of these freshly printed money and money which exited markets , in tens of trillions by the way will have to come back into economy sooner or later .And when they do , what will be prefference ? Certainly not gold or stocks . I do believe super high inflation is absolutely inevitable within 3 yrs .

[AirelonTrading]

But how much is still out there? And how much has already disappeared to deleveraging back derivative CDO bets on markets that we can't even track? That money isn't still out there. The scary thing, is that it's already gone.

And although the powers that be have paid tremendous 'lip service' to "transparency", the entire process has been extremely hidden. So it's hard to tell who has what money, and what has disappeared to just keep the books balanced.

[AntiBullS]

where did they go ?Disapppeared ? hm ,interesting . How is that pissible ? So they just added more debt to taxpayers ? Printing money was just a cover up ? what a criminal system that is .This civilization of people is retarded .Godless egoistic money hungry bastards

[AirelonTrading]

A-freaking-men to that man. Amen.

[AntiBullS]

u can pick up some RE at 10% of what people paid in 2005 and even if you pay tax for over 200 yrs your total investment will still be at 50% of what those people have paid .Can u imagine what it is going to be worth in 200 yrs ? :) Sober up for Christ sake

[AntiBullS]

that . Europe is doing even worse than us .

Euro already has bankkrupted several nations and others on the verge of bankruptsy It is a joke really People invest in euro for the same reasons they invest in stock market right now

[AirelonTrading]

Well, it's why I mentioned that the Euro move? Is a trade that's a dollar hedge. I won't hold Euro's. But with any explosion, I might use it to increase my USD holdings in terms of large percentages. That's why Gold Comex is really nothing more than a dollar hedge.

Oh, and I have my mind ALL over real estate in my county.

[AirelonTrading]

And remember too, that the fundamentals at this point? Are waaayyy skewed. Look at this profitable move I've had in the USD. People told me the fundamentals sucked, but it turned out profitably. Only after the fact have I had others look back at me and say: "OH yeah, well, that was deleveraging".

Whatever the reason. It was profitable. Now I have to preserve that profit, very likely with something else ... :)

[dregret]

Hey Dan. Have you ever taken a heavy hit on a huge gap up/down and not had your stop loss filled? How do you mitigate that risk?

[AirelonTrading]

Did you email me on that question from the daily blog? Answered that one to someone there too.

To answer this question a bit more though, yes I have. Used a limit order, when I should have used a stop order. The limit wasn't filled, and I remember blowing out a HUGE chunk of my account.

Now I use stop order completely when it comes to stopping losses.

[AirelonTrading]

(just heard back from them, guess that was someone else in a similar situation)

You can also think about using put options that are in the opposite direction of your equity and / or derivative.

[AntiBullS]

dollar is at 83 something , do you think it is reversing course ? I do not like it at all . Can we still short long term T bills ? They banned it during 2001-2006 .Not sure if it is still allowed.

[AirelonTrading]

Yeah, I just put out a twitter update on that very thing.

To tell ya the truth, the two things I'm waiting for a entrance on are

1) Euro Futures to $ hedge against any possibility loss as soon as possible

2) Physical Silver if the rate gets to $11.00. Before, I took a very, very, very small nibble. This would be more like 3%.

That way, I'm figured I'm covered either way, and am placing a 'strangle' on the situation; for either eventuality.

[pitbbpl]

Nice podcast, your voice sound something diffrent. I like your metaphor with puke regards actual stock market position. Made me laugh.

Anyway great points with cutting loses and forming bottom.

[AirelonTrading]

Thanks much.

Yeah, I have a much better mic on a headset, that I can't use to make the vlogs. The headset is just HUGE and would look really silly to viewers when it comes to vlogging.

Thanks much for tuning in! I hope to have a few that are more like 'shows', and I can have a regular feature set up. Plan to talk more about this in vlogs tomorrow.

[ohio1998]

I'm in Lakeland. First day on the job. I have an office with a door!!!!

[AirelonTrading]

Wow ... got your other message mate. Was spinning from that one.

An office with a door.

That ... is nice. I had an office like that when I worked at the GM Building at the New Center Campus in Detroit.

SO MUCH TO BE SAID for having the ability to CLOSE the door. Man. I remember telling my wife that, but unless you've actually had one, it's hard to describe. :)

[ohio1998]

I know!!! At my last place I had an open cube with my boss staring at the back of my head. Grrr. That's OK, because now I make a lot more money and it's at the same place that this company ran her out off!!!! No sh!t!

[AirelonTrading]

Now that's funny.

:)

[davincij15]

The statement...

Know how to cut your loses when you make a bad decision. Is as good advice as...

Know how to be a good person in life.

Both are subject to interpretation and requires an example to provide true meaning and understanding.

[AirelonTrading]

That goes back to the money management principles series I had mate. :)

Money management principles almost FORCE people to handle money better, because they go so much against the grain of the natural reaction of a human being. Think I had one of those videos where I mentioned I how I use money management principles when it comes to just day to day purchases and finances.