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I find Mondays are much more enjoyable now that I'm a trader. Anyone else agree?
Here's the big reports coming out this week.
Mon, March 15th 9AM TIC Long-Term Purchases Tues, March 16th 8:30AM Building Permits
2:15PM FOMC Statement
2:15PM Federal Funds Rate Wed, March 17th 8:30AM Producer Price Index Thurs, March 18th 8:30AM Core Consumer Price Index
8:30AM Unemployment Claims
10AM Philly Fed Manufacturing Index Fri, March 19th
Be sure to make a note about these times so you don't get trader whiplash.
Lately I've been setting a personal trend looking at behavioral economics. I just happened to find a very interesting video on how people go about evaluating risk throughout a normal day.
This puts even more emphasis on trading the market in a neutral unbiased mood. Traders need to turn their risk decisions in "cold" decisions and not "hot" ones.
So I just went through Shoot's course again and I was pretty surprised at how much I picked up even after going through it so many times already. It just really inspired me to share this course with everyone and give it my full backing because I know how helpful it had been to my trading.
I first found out about Shoot at another trading website where I studied his live videos that he put out and read the conversations between him and some of his other students to get a better idea of his approach. (I’ve never had a lot of money in the first place so I’m the type of person who researches as much as possible about things I’m looking to buy.)
I think the thing that hooked me the most was how simple this guy kept everything. I never saw any indicators, oscillators, moving averages, or any of that crap on his charts. With the little info I had taken from this I started playing around with it on my demo account and back testing, etc. I started seeing how this stuff really had some potential, but how the hell could it be so easy? I thought, “Maybe he says that’s all he’s using, but he probably has something else up his sleeve that he’s not telling us about.” Basically, I couldn’t help but be really skeptical cuz I couldn’t afford to just give away a hundred bucks.
Anyways, after some more hesitation and skepticism I finally just did it. For 99 bucks and seeing how others I was talking to had nothing but great things to say about it I didn‘t see any reason not to really. I will say that had it been more than 99 bucks I probably would’ve passed and that would’ve been a huge mistake. He also gives away some lessons so you can see what type of stuff you'll be learning. You can find those here.
Look, if you’re searching for that holy grail of trading you’re not gonna find it here, but you’re not gonna find it anywhere else either, trust me. (I know from experience) This course isn’t gonna make you rich as soon as you’re done with it. What it does is give you the foundation that you need to start heading in the right direction. It’s the meat and potatoes of market mechanics and pretty much what the big cheeses don‘t really want you to know. If you think there’s a system out there that will get you rich quick without putting out the time and effort why the frick isn’t everyone rich? Come on. Here's the course sales page where you can find more info on it if you're interested.
To put the blabbering to an end, I really owe my progress and where I’m at now with my trading to Shoot and all the guys on the discussion forum. Without them I’d probably still be flipping through the hundreds of overpriced get-rich-quick schemes out there or maybe even quit. So thanks guys. Job well done.
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Sam Seiden looks at the Commodity Channel Index (CCI). Proper use of the CCI (or any indicator or oscillator) in conjunction with Trend analysis and demand and supply analysis can help stack the odds in your favor when forming a trading decision and trading plan.