Hmm... Honestly I've gone into technical books like:
1. The best damn book on understanding mergers
Scroll down the iBOX and look for this book:
Then hit the sticky note -- it'll take you to a BOX where you can download the book. Brilliant text and easy to ready. Explains 10's like people should be taught.
3. Same link as #2, same sticky. Look for:
If you read this, you are better off than 99% of OTC investors and traders. You can look at a PR and see the plan (if any...) and weed out the trash. You can dl it in the BOX from the sticky note.
4. The Venture Capital Cycle, 2nd Edition (Paperback)
by Paul Gompers (Author), Josh Lerner (Author)
It's a bit thick and heady -- but opens your eyes to how the OTC is funded. It'll require some brainpower but will return wisdom from the effort. It's an academic text and will force your IQ to rise.
Very nice FJ!
I like this one... I would rather miss a good trade than to be in a bad trade...
50 Golden Rules for Traders (Futures Traders?)
1. Follow the trends. This is probably some of the hardest advice for a trader to follow because the personality of the typical futures trader is not 'one of the crowd.' Futures traders (and futures brokers) are highly individualistic; the markets seem to attract those who are. Very simply, it takes a special kind of person, not 'one of the crowd,' to earn enough risk capital to get involved in the futures markets. So the typical trader and the typical broker must guard against their natural instincts to be highly individualistic, to buck the trend.
2. Know why you are in the markets. To relieve boredom? To hit it big? When you can honestly answer this question, you may be on your way to successful futures trading.
3. Use a system, any system, and stick to it.
4. Apply money management techniques to your trading.
5. Do not overtrade.
6. Take a position only when you know where your profit goal is and where you are going to get out if the market goes against you.
7. Trade with the trends, rather than trying to pick tops and bottoms.
8. Don't trade many markets with little capital.
9. Don't just trade the volatile contracts.
10. Calculate the risk/reward ratio before putting a trade on, then guard against holding it too long.
11. Establish your trading plans before the market opening to eliminate emotional reactions. Decide on entry points, exit points, and objectives. Subject your decisions to only minor changes during the session. Profits are for those who act, not react. Don't change during the session unless you have a very good reason.
12. Follow your plan. Once a position is established and stops are selected, do not get out unless the stop is reached or the fundamental reason for taking the position changes.
13. Use technical signals (charts) to maintain discipline - the vast majority of traders are not emotionally equipped to stay disciplined without some technical tools.
14. Have a disciplined, detailed trading plan for each trade; i.e., entry, objective, exit, with no changes unless hard data changes. Disciplined money management means intelligent trading allocation and risk management. The overall objective is end-of-year bottom line, not each individual trade.
15. When you have a successful trade, fight the natural tendency to give some of it back.
16. Use a disciplined trade selection system...an organized, systematic process to eliminate impulse or emotional trading.
17. Trade with a plan-not with hope, greed, or fear. Plan where you will get in the market, how much you will risk on the trade, and where you will take your profits.
18. Most importantly, cut your losses short and let your profits run. It sounds simple, but it isn't. Let's look at some of the reasons many traders have a hard time 'cutting losses short.' First, it's hard for any of us to admit we've made a mistake. Let's say a position starts going against you, and all your 'good' reasons for putting the position on are still there. You say to yourself, 'it's only a temporary set-back. After all (you reason), the more the position goes against me, the better chance it has to come back-the odds will catch up.' Also, the reasons for entering the trade are still there. By now you've lost quite a bit; you sell yourself on giving it 'one more day.' It's easy to convince yourself because, by this time, you probably aren't thinking very clearly about the position. Besides, you've lost so much already, what's a little more? Panic sets in, and then comes the worst, the most devastating, the most fallacious reasoning of all, when you figure: 'That contract doesn't expire for a few more months; things are bound to turn around in the meantime.'
So it goes; so cut those losses short. In fact, many experienced traders say if a position still goes against you the third day in, get out. Cut those losses fast, before the losing position starts to infect you, before you 'fall in love' with it. The easiest way is to inscribe across the front of your brain, 'Cut my losses fast.' Use stop loss orders, aim for a $500 per contract loss limit...or whatever works for you, but do it.
Now to the 'letting profits run' side of the equation. This is even harder because who knows when those profits will stop running? Well, of course, no one does, but there are some things to consider. First of all, be aware that there is an urge in all of us to want to win...even if it's only by a narrow margin. Most of us were raised that way. Win-even if it's only by one touchdown, one point, or one run. Following that philosophy almost assures you of losing in the futures markets because the nature of trading futures usually means that there are more losers than winners. The winners are often big, big, big winners, not 'one run' winners. Here again, you have to fight human nature. Let's say you've had several losses (like most traders), and now one of your positions is developing into a pretty good winner. The temptation to close it out is universally overwhelming. You're sick about all those losses, and here's a chance to cash in on a pretty good winner. You don't want it to get away. Besides, it gives you a nice warm feeling to close out a winning position and tell yourself (and maybe even your friends) how smart you were (particularly if you're beginning to doubt yourself because of all those past losers). That kind of reasoning and emotionalism have no place in futures trading; therefore, the next time you are about to close out a winning position, ask yourself why. If the cold, calculating, sound reasons you used to put on the position are still there, you should strongly consider staying. Of course, you can use trailing stops to protect your profits, but if you are exiting a winning position out of fear...don't; out of greed...don't; out of ego... don't; out of impatience...don't; out of anxiety...don't; out of sound fundamental and/or technical reasoning...do.
19. You can avoid the emotionalism, the second guessing, the wondering, the agonizing, if you have a sound trading plan (including price objectives, entry points, exit points, risk-reward ratios, stops, information about historical price levels, seasonal influences, government reports, prices of related markets, chart analysis, etc.) and follow it. Most traders don't want to bother, they like to 'wing it.' Perhaps they think a plan might take the fun out of it for them. If you're like that and trade futures for the fun of it, fine. If you're trying to make money without a plan-forget it. Trading a sound, smart plan is the answer to cutting your losses short and letting your profits run.
20. Do not overstay a good market. If you do, you are bound to overstay a bad one also.
21. Take your lumps, just be sure they are little lumps. Very successful traders generally have more losing trades than winning trades. They don't have any hang-ups about admitting they're wrong, and have the ability to close out losing positions quickly.
22. Trade all positions in futures on a performance basis. The position must give a profit by the end of the third day after the position is taken, or else get out.
23. Program your mind to accept many small losses. Program your mind to 'sit still' for a few large gains.
24. Most people would rather own something (go long) than owe something (go short). Markets can (and should) also be traded from the short side.
25. Watch for divergences in related markets-is one market making a new high and another not following?
26. Recognize that fear, greed. ignorance, generosity, stupidity, impatience. self-delusion, etc., can cost you a lot more money than the market(s) going against you, and that there is no fundamental method to recognize these factors.
27. Don't blindly follow computer trading. A computer trading plan is only as good as the program. As the old saying goes, 'Garbage in, garbage out.'
28. Learn the basics of futures trading. It's amazing how many people simply don't know what they're doing. They're bound to lose, unless they have a strong broker to guide them and keep them out of trouble.
29. Standing aside is a position.
30. Client and broker must have rapport. Chemistry between account executive and client is very important; the odds of picking the right AE the first time are remote. Pick a broker who will protect you from yourself...greed, ego, fear, subconscious desire to lose (actually true with some traders). Ask someone who trades if they know a good futures broker. If you find one who has room for you, give him your account.
31. Sometimes, when things aren't going well and you're thinking about changing brokerage firms, think about just changing AEs instead. Phone the manager of the local office, let him describe some of the other AEs in the office, and see if any of them seem right enough to have a first meeting with. Don't worry about getting your account executive in trouble; the office certainly would rather have you switch AEs than to lose your business altogether.
32. Broker/client psychology must be in tune, or else the broker and client should part company early in the program. Client and broker should be in touch repeatedly, so when the time comes, both parties are mentally programmed to take the necessary action without delay.
33. Most people do not have the time or the experience to trade futures profitably, so choosing a broker is the most important step to profitable futures trading.
34. When you go stale, get out of the markets for a while. Trading futures is demanding, and can be draining-especially when you're losing. Step back; get away from it all to recharge your batteries.
35. If you're in futures simply for the thrill of gambling, you'll probably lose because, chances are, the money does not mean as much to you as the excitement. Just knowing this about yourself may cause you to be more prudent, which could improve your trading record. Have a business-like approach to the markets. Anyone who is inclined to speculate in futures should look at speculation as a business, and treat it as such. Do not regard it as a pure gamble, as so many people do. If speculation is a business, anyone in that business should learn and understand it to the best of his/her ability.
36. When you open an account with a broker, don't just decide on the amount of money, decide on the length of time you should trade. This approach helps you conserve your equity, and helps avoid the Las Vegas approach of 'Well, I'll trade till my stake runs out.' Experience shows that many who have been at it over a long period of time end up making money.
37. Don't trade on rumors. If you have, ask yourself this: 'Over the long run, have I made money or lost money trading on rumors?' O.K. then, stop it.
38. Beware of all tips and inside information. Wait for the market's action to tell you if the information you've obtained is accurate, then take a position with the developing trend.
39. Don't trade unless you're well financed...so that market action, not financial condition, dictates your entry and exit from the market. If you don't start with enough money, you may not be able to hang in there if the market temporarily turns against you.
40. Be more careful if you're extra smart. Smart people very often put on a position a little too early. They see the potential for a price movement before it becomes actual. They become worn out or 'tapped out,' and aren't around when a big move finally gets underway. They were too busy trading to make money.
41. Stay out of trouble, your first loss is your smallest loss.
42. Analyze your losses. Learn from your losses. They're expensive lessons; you paid for them. Most traders don't learn from their mistakes because they don't like to think about them.
43. Survive! In futures trading, the ones who stay around long enough to be there when those 'big moves' come along are often successful.
44. If you're just getting into the markets, be a small trader for at least a year, then analyze your good trades and your bad ones. You can really learn more from your bad ones.
45. Carry a notebook with you, and jot down interesting market information. Write down the market openings, price ranges, your fills, stop orders, and your own personal observations. Re-read your notes from time to time; use them to help analyze your performance.
46. 'Rome was not built in a day,' and no real movement of importance takes place in one day. A speculator should have enough excess margin in his account to provide staying power so he can participate in big moves.
47. Take windfall profits (profits that have no sound reasons for occurring).
48. Periodically redefine the kind of capital you have in the markets. If your personal financial situation changes and the risk capital becomes necessary capital, don't wait for 'just one more day' or 'one more price tick,' get out right away. If you don't, you'll most likely start trading with your heart instead of your head, and then you'll surely lose.
49. Always use stop orders, always...always...always.
50. Don't use the markets to feed your need for excitement.
Good one. I see there are numerous John Maxwell resources mentioned in the IBOX. One of the best motivational tapes I've ever listened to (if not the best) was by John Maxwell given to a Christian Booksellers association. It's called, "Your attitude, key to success" and you can order it from focus on the family.
Another one down...
First Priority Bank in Bradenton, Fla., closes
19 hours ago
(AP:NEW YORK) The Federal Deposit Insurance Corp. said Friday it has taken control of the First Priority Bank of Bradenton, Fla., and that SunTrust Banks Inc. will assume the bank's deposits.
First Priority is the eighth U.S. bank to fail this year in the aftermath of the mortgage crisis, and the first Florida bank failure since March 2004. Andrew Gray, spokesman for the FDIC, said the bank had "significant loan losses" in the Florida commercial real estate market that eroded its capital.
Last month, California mortgage lender IndyMac Bancorp Inc. became the largest regulated thrift to fail in U.S. history. IndyMac's holding company filed for Chapter 7 bankruptcy protection on Thursday.
On Friday, the Florida Office of Financial Regulation closed First Priority of Bradenton, the FDIC said. The FDIC was then named receiver of the bank, and entered into an agreement with Atlanta-based SunTrust Bank to assume its insured deposits.
The six branches of First Priority Bank will reopen on Monday as SunTrust branches.
"It will be a pretty seamless transition for the depositors," Gray said.
Announcements of bank failures tend to be made after the close of business on a Friday, so the banks can reopen under new ownership the following Monday morning. A week ago, the 28 branches of the 1st National Bank of Nevada and First Heritage Bank N.A. _ owned by Scottsdale, Ariz.-based First National Bank Holding Co. _ were closed by the FDIC, with the assets ought by Mutual of Omaha Bank.
SunTrust Banks was the 13th largest bank by assets as of March 31, with nearly $179 billion in assets, according to American Banker. In addition to assuming the failed bank's insured deposits, it will buy about $42 million of First Priority's assets. LNV Corp. of Plano, Texas, has agreed to buy another $14 million of the failed bank's assets. The FDIC will keep the remaining assets for later disposition, it said.
As of June 30, First Priority had total assets of $259 million and total deposits of $227 million _ $13 million of which were uninsured deposits, the FDIC said. It estimated that those deposits were held in about 840 accounts that potentially exceeded the FDIC's $100,000 per depositor insurance limit.
For those account holders, the FDIC recommends calling it toll free at 1-800-837-0215 to set up an appointment to discuss their deposits. The FDIC said it will pay depositers with amounts exceeding the limit 50 percent of their uninsured balance.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Good deal :) You're pretty much right.
Hmm. Let me see if I can get you onto the KAGI board..
Soapy, please take a look at this and let me know how far Im off. I let my paid subscription slide so Im just on the freebee now, the Kagi board is premium. edit: I added the second one... Thanks professor!
“There are three classes of people: those who see. Those who see when they are shown. Those who do not see.” - da Vinci
Oh wow. That pincher isn't even touching it yet. And you're right on the oil comment.
Ok, I'd play the evil ass on this one. LOWBALL it on L2. I'd check the 30min charts and find the time period during the day where cheapies can be found. Then jump on L2, and lowball for that timeframe. I think you can catch the double bottom as you say, but it'll be a lowball bid.
Good luck :) I hope it tanks for ya.
STO on the chart leads just a bit...
Hi ya Soapy! I just found this board, great job!
I am reading from the beginning, post #18
the file is not found could you upload it again or email it to me???
Oil Is Steady Near $144 After Reaching Record on U.S. Supplies
By Robert Tuttle
July 3 (Bloomberg) -- Crude oil futures were steady after rising to a record above $144 a barrel in New York as a U.S. government report showed an unexpected decline in inventories.
Supplies dropped 1.98 million barrels to 299.8 million last week, the lowest since January, the Energy Department said yesterday. Analysts in a Bloomberg News survey had predicted the report would show a 500,000 barrel rise in inventories. Prices also climbed as the dollar weakened.
``We dropped about 2 million barrels on crude and most everyone was looking for a slight build,'' said Addison Armstrong, director of market research at TFS Energy LLC in Stamford, Connecticut. ``That leaves us somewhere around 7 to 8 percent below normal on crude stocks.''
Crude oil for August delivery rose as much as 62 cents, or 0.4 percent, to $144.19 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It was trading at $143.98 at 8:22 a.m. in Sydney. Futures touched a record $144.32 after the close of floor trading yesterday and have doubled in the past year.
Brent crude for August delivery rose $3.59, or 2.6 percent, to $144.26 a barrel on London's ICE Futures Europe exchange yesterday. Futures earlier touched a record $144.90 a barrel.
Oil's appeal as a hedge against inflation may rise if the European Central Bank increases interest rates today, causing the dollar to fall. The European Central Bank will lift its 4 percent benchmark main refinancing rate by a quarter-percentage point, according to 57 of 58 economists surveyed by Bloomberg News.
``People are bracing themselves for an ECB rate hike, which should further weaken the U.S. dollar,'' said James Cordier, president of Liberty Trading Group in Tampa. ``As the dollar falls, oil becomes cheaper to foreign countries.''
The dollar dropped 0.6 percent to $1.5880 per euro at 3:03 p.m. in New York, from $1.5793 yesterday. It touched $1.5888, the weakest level since April 24.
Russian President Dmitry Medvedev said oil will reach $150 a barrel, and suggested the high price will slow global economic growth.
``I have said that oil prices will reach $150 a barrel,'' Medvedev said yesterday in a meeting with reporters in Moscow ahead of his participation in a summit of the Group of Eight industrial countries in Japan next week. ``Unfortunately, rising oil prices create problems for the world's economy.''
Oil has risen this year partly on concern that Israel may attack Iran to halt the country's nuclear program, an event the U.S. State Department has said is unlikely. Iran is the second- biggest producer in the Organization of Petroleum Exporting Countries.
Iran's Foreign Minister Manouchehr Mottaki said a ``new trend'' has started in negotiations as his country considers an incentives offer by world powers to halt uranium enrichment, the official Islamic Republic News Agency reported.
The International Energy Agency said July 1 that spare OPEC capacity will shrink by 2013, keeping the market ``tight.'' OPEC excess capacity will decline to a ``negligible'' 1 million barrels a day within five years, the agency said in a report.
``It's a clear indication that prices above $130 are justified in the long term,'' said Hannes Loacker, an analyst at Raiffeisen Zentralbank Oesterreich in Vienna. ``There's only low spare capacity to compensate for events, for geopolitical insecurity.''
Bank of Italy Governor Mario Draghi, a member of the European Central Bank, said today that oil prices reflect ``real'' market tensions and aren't the result of ``irrationality.''
U.S. gasoline inventories rose 2.1 million barrels to 210.9 million and supplies of distillate fuel, including heating oil and diesel, increased 1.3 million barrels to 120.7 million barrels, the Energy Department said in its report today.
The report is ``somewhat bullish for crude and bearish for refined products and we needed the opposite,'' said Peter Beutel, president of energy consultant Cameron Hanover Inc. in New Canaan, Connecticut. ``That would have helped margins and encouraged independent refiners'' to increase processing rates.
The margin for turning three barrels of crude into two of gasoline and one of heating oil rose 6.4 cents to $12.678 a barrel, based on futures prices. That's 38 percent lower than $20.5140 reached on June 3.
Refineries operated at 89.2 percent of their capacity, the department reported, 0.6 percentage point higher than the week before. Refiners operated at 90 percent of capacity a year earlier.
To contact the reporter on this story: Robert Tuttle in New York at email@example.com
Last Updated: July 2, 2008 18:36 EDT
Possible. The news sucks and the chart broke a major support... I think shorters will have fun.
In keeping with my personal "megatrend" theme, may I invite you to visit 3 of the top ten new boards? -
This company has a HUGE head start in water purification/desalination projects all over the orient and soon in India and beyond -
This company found the biggest load of gold in it's drill holes I have heard to date of all the companies I follow -
This company has a plan to give back to the communities in which it operates... it began trading big and got bigger through today -
I really hope you enjoy them and actually find them to be useful! There is more to come... just click my name to see what else interests me in the world of megatrends.
Yes, you can buy DCR for the massive gains...
but oil contracts need to move to the downside for that to happen.
Good luck. DCR may explode in a few..... not a buy rec!
Sheesh... my head is in the right place... just a wee bit behind the curve, huh???
This really has nothing to do with our investments or any business that we are conversing about here but I need ya'lls help... My roommate has entered herself into a model contest and she needs some more votes to catch up with the leader... The local radio station is going to broadcast it so I figured I would go all out and see if I could get some more from you guys... IF YOU DONT MIND!!! Link is below and if you hover your mouse over the pictures it shows their names... Hers is Soshanna M.... You do have to register but if you want to vote make sure to click the 'dont send me spam emails' button when you are registering... Good luck all in your investments and see you around...
One way to ruin him is negative publicity, and lots of it. Should he try to open another shell and his recordis public, that should help minimize his sells.
From what I know, it seems KK didn't hold up his end of the deal. So I am uncertain what to say about the inital cost. Intially we were a dilutive measure to fend off YA for a bit, but that didn't work as planned.
winnotlose I plan on taking this matter into my own hands if it comes down to TS screwing the common retailer. There are those already who live in the area that have been watching his movements. If he tries to R\S or buy out at real cheap prices he will learn the meaning of Western Justice. The only way for him to escape is by heading to Thailand like the Dr but he will ruin the rest of his families rep.
KK, YA KK's wife and others were in on this serade but he better make good. I have a 2 weeks vacation coming and it will be spent tracking and cornering him to get answers.
Just like with Dr C Homer was in on it as well as Eugene they all claim ignorance but they all made money, only diff is C took off while the others stayed around.
More publicity the papers show the worst it will be for Dede and TS's inner circle
Soapy so why did he pay so much for the shell if he hasn't annoinced anything coming with it?
You know the answer nothing "they" say will change that.
I don't think he's dishonest... I think he's in a bit over his head at the moment. Although he landed a solid M&A, he really messed up on the share structure and CDs.
What is your take on SWVC and Tom S.. Do you believe he is dishonest? Cheating his investors and only looking out for himself? 2 years from now where do you see SWVC? I value your opinion and look forward to your reply.