Archive for August, 2011


The Weekend Trader – Hurricane Edition

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Some Pre-Hurricane tidbits as we batten down the hatches and try not to let Cape Cod fall into the Atlantic this weekend.

More Feedback on Trading After Dark Episode #6 – Feedback from TAD #6 continues to roll in, including a note from the head of my FIRST equity trading firm (MB Trading) from over a decade ago who knew my stock and ETF trading in spades.  Keep in mind I’ve been trading the futures exclusively since 2003. 

And while I appreciated his comment, ”I always tell people you were one of the best traders I have seen if not the best,” his words only served to remind me that I personally can’t ever think that way, and that I enter every day thinking I’m coming back from the worst trading day ever.  Never forget the fictional drawdown concept!! For the day that we think we’ve “made it” will be the last day we ever effectively trade.

His note did however bring back fond memories of trading everything from the CIEN/JNPR/JDSUs of the world (boy did I love JDSU!) to the QQQs & SPYs.

btw, remember the Daily TradingMarkets Column, “Don Miller’s Trading the QQQ” I did for Larry Connors?  Here’s one of the archived links from 2001 and you can search for others on the TM site.  Note how many of the philosophies from ten years ago are identical to how I trade today … which is of course because while market emotions may ebb and flow in terms of severity, they never REALLY change.  But I digress.

One last observation on TAD #6.  For over twelve years now, and despite sharing more intimate & auidtible trading data than almost anyone in the industry in articles, CME/Expo speeches, live public trading over extended periods, blogging, teaching, etc., I’ve still received a few emails each week — and sometimes multiple emails &/or phone calls each day — disputing the validity of making a profitable market in the S&Ps. 

And the list of reasons/excuses is long, ranging from those former floor traders featured in the movie Floored who never could adapt to the electronic markets, to those arguing you can’t beat the computers, to those who continue to incorrectly believe running a market making trading business is gambling. 

As an aside, here’s a News Flash for those folks: Setting your feet on the floor when you roll out of bed in the morning is a gamble.  Yet I still choose to get out of bed.

As I’ve long said, statistics show that failure in the trading world is substantial — which is why I feel so strongly about comprehensive, legitimate, and fact-based education, and why I’ll never chase ambulances to drum up teaching business. 

Yet it obviously can be done by those who are willing to do what most won’t or can’t do in terms of education, preparation, constantly adapting to the market flow Jellie-style, and perseverance & deft management during the troughs. 

Perhaps TAD #6 – along with all of the prior TAD Episodes — was the final nail in those emailer coffins, as since its release — and for the first time since I went public some 12 years ago (that’s about 625 weeks) – I haven’t received one such email or call.  Of course, there will be some crazies who do so just because I mentioned this.

Zero.  Nada.  Zilch.  Call it a vacuum of silence amidst the deafening roar from those who “get it”.

As has often been said, “Walk the Talk”. 

Again, I simply choose to get out of bed.

And at the risk of beating a dead horse yet again, there are only four reasons that will ever prevent a proven trader from being profitable:  Focus, energy, motivation, and simply being present.  Note that none of them have to do with the markets.  At my end, I must personally constantly conquer these demons.

Jellie Team #9 – We’re putting the finishing touches on preparation for Team #9 which gets underway in just over a week and will last through the end of September.  There is still limited room if you’re interested in joining us, but please email me ASAP at so we can chat this weekend and provide the required preparatory info.

A reminder for all former and new Webinar participants that the 100% of that tuition can be applied to the live effort.

As I’ve told each of the former teams, it’s my continuing goal to ensure I under-promise, over-deliver, and provide lasting value which at the end of the effort is perceived by the participants to be far greater than any modest tuition paid.  For I’ve learned that such is the only way to go though life.

Trader Hired – Thanks to everyone who responded to my note several weeks ago indicating I was looking to provide capital backing for a selected trader.  After an extensive selection and incubation period, that process is complete and he’s off and running.  btw, as we expected, he’s been through the Jellie Training.

And for those who have asked, I’m not currently planning to expand into a full-scale prop firm.  I simply had some capital which wasn’t being put to use and wanted to gain some efficiencies in a win/win manner.

PivotPoint Briefing – Weather permitting, the weekly PP Briefing will be posted later this weekend in the Briefing Room on the PivotPoint siteI guess that guy standing under the umbrella on the website is time-appropriate this weekend!

Hurricane Irene – And speaking of weather, I of course have no idea as to my accessibility to the Internet, markets, and/or emails on Sunday and Monday as Irene is headed straight for Southeastern Massachusetts.  As always, we’ll just roll with the punches as needed.

After all, that’s what the real Jellyfish will be doing.

Have a blessed weekend.

Categories : The Weekend Trader
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Hi all.

A quick post this morning before I finally get out of the office today (Saturday) for some R&R at our annual Emmaus picnic.

Trading After Dark Episode #6 – First, a huge thank you for the mega-response to the last two Trading After Dark (TM) videos – Episodes 5 & 6 – which are now approaching 2,500 cumulative trader views

Specifically, Episode #6 has triggered a response throughout the industry where some believe it is one of the largest steps forward ever in the financial industry with respect to sharing the intimate financial details of those who provide liquidity and make markets.

As always, transparency and truth will continue to drive our ongoing efforts … both in our trading efforts and in life.

Weekly PivotPoint Advisors Briefing – My weekly technical and portfolio Briefing for longer-term cycles for last week has been posted in the Briefing Room tab on the PivotPoint site.  In this week’s notes, I show how Wednesday’s short-term 15-minute signals helped foretell Thursday’s crash.

September S&P Jellie Trader Training – A reminder that we’re only a few weeks away from our only other live S&P Jellie trader training effort scheduled for 2011. 

As the 4-week effort begins right after Labor Day, and participants must view the 16 hours of Webinars prior to our start, please email me at asap if you’re interested in learning the business of making a market in the S&Ps or similar markets.   And as both TAD Episode #6 and last year’s talk in New York indicated, you can run an effective business on modest size.

As always, I refuse to mass market such training as I’d rather simply let people know its availability via these blogs versus actively “chasing ambulances” and hoarding people into a room.  The consistent result has been a small team made up of individuals (average age of those participating in the first eight efforts has been 49) who truly care about the effort and each other.

And a reminder for those who don’t have the time commitment that the 16-Hour video series remains a viable option.  Click here for the complete Webinar syllabus.  As always, a portion will go to support our ongoing American Diabetes Association and/or Grow Uganda efforts.

Enjoy the weekend.

I’m frankly not sure where to start on this one except to say that Episode #6 (almost 50 minutes long!) presents some of the most comprehensive statistical reporting ever made available in support of my S&P liquidity business, as well as FOUR underlying trade sequences.

If the last Episode (1,000+ views and counting in four days) went mini-viral throughout the trading community, this one may very well double that.

I’ll let the opening comments and Episode itself say the rest as we try to take industry transparency to yet another level.

As is our practice, please post comments on the TAD site vs. here.  Thanks.

Categories : Trading After Dark
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The Weekend Trader Part 2 – PivotPoint Briefing

Posted by: Don Miller | Comments Comments Off

My weekly Chief Investment Officer Briefing for our long-term cycle PivotPoint Advisor investment clients and onlookers for the week ending 8-5-11 has been posted in the Briefing Room tab of the PivotPoint site.

And if you previously missed Friday evening’s post, Trading After Dark Episode #5 is now available which shows providing market liquidity in a highly volatile and thin market (please note the key discussions in the comment section of that post as well).

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The Weekend Trader – Trading After Dark Episode #5

Posted by: Don Miller | Comments Comments Off

Well, I finally had some time and focus to pay attention to my own trading and do some post-production today, and so Episode #5 is finally up on the Trading After Dark (TM) site and in HD as always.

Today’s episode (about 37 minutes) uses today’s personal trading to illustrate trade sequence and time of day management from a liquidity provider’s perspective.

I begin by walking through two key sequences which reflect the bulk of the day’s +$14K take, after which I share my personally developed time-of-day management charts which helps me manage my intraday performance.

I suppose I could have titled the episode, “Providing Market Liquidity in a Thin & Volatile Market”.

Click on the pic below to go to the TAD site and enjoy!

A reminder to please place all comments on the TAD site vs. here.  Thanks!

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Trading After Dark Alert

Posted by: Don Miller | Comments Comments Off

Look for a special Trading After Dark Episode shortly analyzing a full trading day … using today’s market as an example.

Categories : Trading After Dark
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Special Market Crash Video to PivotPoint Clients

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In light of today’s market carnage, here’s an important video message to our PivotPoint clients from Chief Investment Officer Don Miller addressing how we’re protecting your portfolios in the current environment.


This video is also linked on the PivotPoint Advisors Briefing Room Tab, which contains the referenced Briefing detailing last week’s protective trade exits which have as we speak saved everyone about 9%.

Categories : PivotPoint Advisors
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