I AIN'T SELLIN' WRINKLE CREAM
Buy one, get one free. Well, kinda.
In the last couple of days I have received many emails from people all over the globe asking questions as well as offering thanks for setting up the website. I’d like to share with you 3 common themes I have gotten. I’m paraphrasing the questions in order to be brief and to the point. My answers are word-for-word as I responded to the 3 separate emails.
Why are you willing to share with me your algorithm for free? What’s the Catch?
I address this issue in the download. The real question is whether I have enough trading credibility and real verifiable results. The answer to that is simple: yes.
I have a small account, and am wondering if I can still do this?
There is only 1 reason you couldn’t do this; you don’t have USD $100 to put into a trading account at HotForex. Now, that isn’t the threshold Hotforex uses for account minimums, that is mine. In order to trade 1 oz. of gold [the minimum], I recommend you have at least $100 in your account. With a current gold price of about $1,700 - $1,800 / oz., that would be leverage of 17 – 18 to 1.
HotForex has lower account and margin requirements than I recommend. In order to open an account, all you need is a deposit of USD $5 or more. Yeah, $5.
So, if you don’t have it, then go work and save what you need to get started.
I’m in my 20’s and would like to be a trader like you. Can you help me?
I get emails and requests like yours many times. Please take my comments to heart.
Trading isn’t just all about money. There are many ancillary issues that have to be addressed also. I will touch briefly on some of these with you first.
You are in your 20’s, so you are probably the product of a very dysfunctional public educational system. It gives me no joy to say this, but unless your parents had the money to send you to a private school, you got the drivel you did. Maybe, in spite of this, you can think critically.
You need to understand that the only 2 issues going forward for you are 1) the productive use of your labor, and 2) the proper deployment of whatever capital you have. Everything else, from a career standpoint, is meaningless.
Discipline will be the foundation of your success as a trader. You need to develop it, nurture it, and make it a top priority in your life. When nobody is looking, you have to do the right thing. If you don’t, the immediate consequences will be subtle and maybe not even felt or noticed. In the long-run, it will lead to your ruin, and you will be left with bitterness and regret.
You are past the point of learning something for a test. From here on out, learning is something you do, and relish, because it makes you a better person with a better perspective of people, as well as markets. The longer you are around trading, the more questions you will have. The kid who was an expert on everything when he was 17, has died and won’t be back.
You are in desperate need of “tools” to get you started. If you are serious, I am here to help you become a wealthy trader. Email and Skype support is available to you whenever you have a question or issue and need my help. My algorithm will do the dirty work of giving you the proper buy/sell signals. Your biggest chore will be to follow it. The million dollar question is can you do that?
Looking forward to hearing from you again.
HOMEROOM PART DEUX
TEACH ME SOMETHING ALREADY!
Gold today has provided a teachable moment for me to share with my readers. What happened today is known as the dreaded “double round-tripper” in pit trader parlance. Lows put in during the Asian session; highs put in during Europe; test of the lows in U.S trading followed by NEW highs, and then for the coup de grace, new lows at the end of the day.
This type of action, over the years, happens less than 5% of the time. Yet this is the type of trading action that can cause serious losses in your account. Losses that sometimes can’t be recouped because they are so large and debilitating. Often times, it isn’t the money that can’t be replaced, it’s the emotional capital that has been destroyed.
WHAT COULD POSSIBLY GO WRONG?
The “Vegas BFSG Algorithm” is specifically designed to avoid this type of action and keep you out of trouble. The main purpose of the algorithm is not profits; it’s keeping you out of trouble. Being on the right side of the market, a chimp could make money.
The algorithm had profits today of about $7 / oz. If that doesn’t seem like much to you, consider the following fact:
Maintaining constant leverage of 15 / 1, a gain of $ 1 per day using the BFSG Algorithm, starting with $200 in your trading account, yields well over $ 1 million dollars within 6 years !!
Did somebody raise their hand?
Have a good night everyone, and keep those emails coming.