Not Everybody Got To See Vegas Speak
From the anguished look on his face, I can understand his frustration in not being able to see me speak. However, he can still download the algorithm!
Hey Blonde: This Algorithm Better Be Gooooooood
As always, I take the tough questions any time I get them. But, I will leak this bombshell: anybody can do this.
Anybody. Tuco, I will show you!
I commuted, 2 hours each day for 10 years, into Chicago to trade. Most people who commute have 3 lives: family life, business life, and a commuter life. Most will spend the commute time either sleeping or reading the paper or something like it. Almost all are miserable and you can see it and feel it when they are on the train.
If you get the chance to talk to them, they will inevitably ask what you do for a living.
“Awwww, no way could I trade for a living.”
“Awwwwwwwww, wouldn’t know where to start, and besides my wife would kill me. Too many bills and financial obligations to do that.”
Right! Stay in that dead-end job forever, working 12 hour days and not getting paid squat, while your boss takes credit for your work and gets promoted. And while I’m thinking it, what do you think 25K per year is going to do for you? Where is your life? Please, I want to know.
Traders As Kids
If given the proper tools, anybody of reasonable intelligence and common sense can make a fortune. Do you seriously think traders, as a collective group, have a superior intellect? You’re kidding right? Good thing the gun is only filled with water.
Unlike 20 years ago, when you needed at least 10K to open an account, had to pay very high commissions, and got to deal with a broker, today you can literally start on a shoe-string from your computer.
Marketing Genius: Nothin’ Like A Clear Message To Attract Money
If you don’t have a few hundred bucks to get started, sell that pop bottle collection, turn in your baseball cards, or just get down right ingenious and think of something to get you started. Nothing is gonna happen unless you do something.
This is the Thanksgiving Holiday in the United States, and as a result, there will be no trading of gold on Thursday or Friday. Holiday markets are for chumps. Trading is likely to be choppy with nothing but stop hunts. You have been warned.
There will be posts on Thursday and Friday, as I have some important announcements to share. So, between watching football and gorging yourself on turkey, wander in occasionally and see what I got to say.
In order to seek clarity, and give readers a better idea of algorithm performance, starting Monday of next week, all opening signals from Midnight [12:00 AM Chicago time] to 11:00 AM [Chicago time] will be used to determine performance. This does not include liquidating of positions; they can go longer. These are the hours when you are likely to get 80% - 90% of the day’s range.
[Note: On the HotForex trading platform this is 08:00 to 19:00. The HotForex platform time is GMT -2.]
Yea, I realize it can cause some sleep disruptions for some traders, but last time I checked the market didn’t care. Where else you gonna make a 6 or 7 digit income?
Today’s Action & Weekly Wrap Up
At 12:50 AM [Chicago time] we got the first sell signal [algorithm is still in sell mode] at 1706. Some of you took the signal and some didn’t, depending where in the world you are located. [As I said above, starting Monday these signals will be used for algorithm performance. I’m not going to include these results today, because most U.S. traders were sleeping when it happened.].
A couple hours later, we got a signal for a confirmation bottom at approximately 1696. Net gain on this trade was approximately $ 10 / oz.
The second sell signal came at 5:55 AM [Chicago time] at about 1691. This position was closed at 7:25 AM at 1691 – 1692 [liquidation signal], depending on how you got filled. So, I’m going to call this trade as a loss of $ 1.00 / oz.
The third sell signal came at 8:45 AM [Chicago time] at about 1690. Within the hour of opening the position, we got a confirmation bottom at 1682.50 and liquidated the position at that offer price. Net gain on this trade was about $ 7.50 / oz.
Now, not including the first trade because it was early, net gain on the day is about $ 6.50 / oz.
Thanks Mr. Market, see you on Monday.
For the shortened Holiday week the results look like this:
Monday $ 4.50 / oz.,
Tuesday $ 0.00 / oz.,
Wednesday $ 6.50 / oz.,
Thursday $ 0 [no trade Holiday],
Friday $ 0 [no tradeHoliday].
Total $ 11.00 / oz.
A gain of about 11% for the shortened Holiday week.
Total Since Started Website
11/02/2011 – 11/04/2011 $ 25.00 / oz.,
11/07/2011 – 11/11/2011 $ 86.00 / oz.,
11/14/2011 – 11/18/2011 $ 49.00 / oz.,
11/21/2011 – 11/25/2011 $ 11.00 / oz.
Running Total 4 Weeks $ 171.00 / oz.
You do the math on this one.
Again, I’ll be posting over the Holiday, so be sure and stop back. For those in the U.S., have a great Thanksgiving Holiday. And remember: You can pick your friends, but you can’t pick your relatives.