Archive for October, 2011
I’ve made a slight redesign to my weekly PivotPoint Advisors CIO Briefing, which is now accessible for the past week via the Briefing Room tab of the PivotPoint site, or you can use this direct link to access the PDF file.
This week’s edition discusses our recent trade sequences for varying portfolios in detail to continue our mission of full transparency.
And here’s the more extensive Part 1 of The Weekend Trader which was posted yesterday if you missed it.
We’ve all heard the phrase, “Monday Morning Quarterback” which describes using hindsight and history (which will of course always be 100% accurate) to prove one’s point, instead of having to take a stand as events were unfolding.
So we’ll call this and every other of the some 1,000 posts in this journal “Sunday Morning Quarterback” to reinforce that fact that traders must make decisions in real-time.
Over the past few years in the pages, I’ve tried dearly to provide multiple ways, tools, and most importantly in this industry of smoke and mirrors – concrete evidence – that once one TRULY understands the business of trading, the opportunities are endless.
And in the chart to the right (click to enlarge), I provide yet another piece of evidence as it unfolded in real-time last week. Here’s my full Briefing analysis and portfolio positioning strategy from last week.
With all due humility, and as I’ve said repeatedly, the ONLY things that will EVER prevent me or any other bonafide trader (the minority amidst the majority of rubble and roadkill) from running a profitable trading business are (1) focus, (2) energy level, (3) motivation, and (4) simply showing up.
Period, end of sentence, exclamation point.
Those who know me well know that’s not a boast or brag. It’s simple fact.
Notice I said nothing about evolving markets, regulatory changes, market conspiracy theories, etc. We simply adapt and execute.
As Bill Belichick would say – in rather monotone fashion – “The record is what it is”.
But far more importantly than my record, and the ONLY reason this journal exists, is to try to do everything humanly possible to provide you with the tools.
Such as trading and blogging my way amidst these pages to a multiple-year sustained personal track record of over 800% growth from bare bones to a multi-million dollar portfolio … with every single penny in tact and which continues to grow to my choosing as long as I focus on the “four horsemen” above.
Freely paying it forward via a thousand journal posts, 17 Jellie Networking Room chat logs (always accessible via the post category menu in the lower right) with realtime “Sunday Morning Quarterback” narration, six intensive Trading After Dark (TM) episodes (once and for all dispelling any myths that trading isn’t a wonderful, bonafide, profitable business), ten months of weekly PivotPoint Advisors weekly Briefings, and personal discussions with thousands of traders.
None of which costs a penny … and never will.
For those desiring more formal and extensive trading educational tools that now rank by many experts among the best in the industry, we created the Jellie S&P Trader program.
And more recently, teaming with PivotPoint Advisors as their Chief Investment Officer, to put true wholesaling trading techniques to use for longer-term retirement assets via longer term cycles.
Call it full transparency and reality coming full circle from self, to showing others how to fish with their own capital, to now helping those stuck in the 401k/IRA limited-option corporate nightmare by providing an alternative based on sound and proven technical analysis principles.
Yet I still see too many people in this world, country, state – and even street – whining day after day about how hard, difficult, or impossible trading is, or that Don Miller, like Darby Shaw was accused of in one of my favorite movies The Pelican Brief, is a figment of someone’s imagination.
btw, as a quick aside, I love this exchange in the movie:
Edwin Newman: Where is Darby Shaw?
Gray Grantham: I think that’s also a question for Darby Shaw, but I know that she’s not available to answer questions as long as this “feed frenzy” continues.
Edwin Newman: Does that mean that you don’t know where she is?
Gray Grantham: No I didn’t say that.
Edwin Newman: Then you do know…
Gray Grantham: [laughs]
Edwin Newman: I, I take it this cryptic smile means you’ll not answer…
Gray Grantham: [smirking uncontrollably]
Edwin Newman: Okay Gray, you know that in view of all this, you know that there’s a lot of speculation that this woman is a figment of your imagination. That you created her, from a lot of different sources. Just as there are people who believe there was no Deep Throat, there are those who believe that there is no Darby Shaw. In other words, she’s just too good to be true.
Gray Grantham: She almost is
Even with evidence all around that would even pass multiple DNA tests.
Nevertheless, I’ll keep on keeping on providing mountains of evidence after evidence in the hope that a few of the millions of words in these virtual pages will be heard, and that Horton indeed hears a Who.
And so this week we once again direct the jury’s attention to Exhibit Number 587,432 in the form of last week’s PivotPoint Trade Briefing and setup which was there for all to see BEFORE it unfolded.
Just as the quarterback was dropping back.
On SUNDAY morning.
In this case, the target was indeed hit between the numbers of the receiver’s jersey.
Yer perhaps the true question is do you really want to get in the game?
Or simply discuss yesterday’s game at the water cooler.
I’ll be on the field … and to God goes ALL the glory.
Have a blessed weekend.
P.S. The $250 Jellie Webinar discount remains in effect … simply email me at firstname.lastname@example.org and I’ll email a discounted invoice. Signed, Darby Shaw.
This week’s video edition of The Weekend Trader focuses on the importance of ADAPTING to various market cycles and rhythms to be successful on a daily basis, and helps explain why the S&P Trader “Jellie” term that we coined a few years ago has resulted in commonplace use in the trading industry.
Said another way, many industry “experts” (I thought long and hard about using that term) and vendors choose to have you focus on a single market cycle, rhythm, or dynamic … which we’ll call a “nail” … and which is naturally because they’re typically really good at hammering, or they’re trying to sell you a hammer. So everything looks like a nail.
Well, here’s a news flash. Everything is NOT a nail, and learning which market cycle or channel is in play during any given 5-minute interval, hour, or day, will keep you profitable in ALL markets.
As noted in Wikepedia, Abraham Kaplan is often credited with creating this “law of the instrument”, when he stated: “Give a small boy a hammer, and he will find that everything he encounters needs pounding.”
All I’ll say is isn’t it time we separated the trading men (and women) from the boys (and girls)??
Then again as I state in the video, that would take … um, work? And we wonder why the losing traders so outnumber the constant minority who adapt and succeed!
I also discuss the current PivotPoint Advisors trade sequences in progress given current longer-term market dynmaics, as well as deciding to retain the $250 Jellie S&P Trading Webinar discount for just a bit longer to try to continue to “pound” (pun intended) the point home.
Just email me at email@example.com if interested and I’ll email a discounted invoice.
Have a wonderful weekend and trading week.
In this weekend’s video, I expand on what I’m looking for in terms of a European Jellie Trader, and in doing so, discuss my thoughts on what it takes to be a solid trader in this dog-eat-dog business.
Perhaps said another way, how to be the “first dog” in that sentence.
Other topics include a free direct link to my recent TradingMarkets interview on Trading After Dark (the QuickTime download may take a minute or so) which is quickly becoming one of the most accessed interviews on the TM site, recent PivotPoint Advisors trade sequence, a great show on how the brain can ONLY focus on one item at a time (and as such, why trading chatrooms often do more harm than good), and my getting closer to a personal retirement goal as the result of over a decade’s worth of trading.
Lastly, the $250 Jellie Trader Webinar Training discount will remain in place over the coming week, so please email me at firstname.lastname@example.org if interested and I’ll email a special invoice.
Just a quick reminder per my weekend post that I’m looking to hire a trader located in Europe to follow the Jellie trading techniques and take maximum advantage of time-zone efficiencies.
As participants from the live efforts and recorded Jellie Webinars know, the Europe time zones are IDEAL for maximum trading revenues since both the Europe AND U.S. morning sessions can be traded with very high probability, and one can still live “normal hours” from a personal management perspective.
Further, Europe’s mornings are almost always “noise-free” as economic data releases are kept to a minimum.
Serious traders can contact me at email@example.com.
Following up on The Weekend Trader – Part 1 (Kissing the Stanley Cup) posted yesterday, here are a few pics of the evening.
Sure, it’s only a trophy (albeit the most famous one for a number of reasons and most difficult to achieve) which clearly pales compared to life’s far more important issues.
If a picture says a thousand words, there must be about 2,000 here.
Maybe even more.
For those who say I need more “fun” in my life, you’re right … and I’m trying.
Thank you to the entire Boston Bruins organization for the evening and allowing us to share the experience.
Have a blessed weekend.
Understand life and you’ll understand trading.
Understand trading and you’ll understand life.
And often, I look to sports for top parallels as Trading is the truest of all sports … albeit a mental one.
Last week, we discussed trading lessons from the massive collapse of the Red Sox this year.
This week, we’ll flip to the other side of the spectrum and discuss a sports celebration that will have few parallels as time goes on … last night’s incredible, awe-inspiring raising of the Boston Bruins’ 2011 Stanley Cup Championship Banner.
The orchestration, production, and execution of the celebration in this old hockey-crazy sports town was simply perfect, as the past (old-times such as me, think “Number Four, Bobby Orr”) met the present to raise a banner to the rafters that will never, ever, be taken down so long as life still breathes on this planet.
You see, the perseverance, determination, and true grit of last year can never be taken away.
Three Game 7s. Down in the first round 0-2, losing both games at HOME and having to go to Montreal to do the impossible … win two games in a row in an environment akin to trying to light a match in a downpour.
Down in the Finals 0-2. Losing one of the best players to a season-ending cheap hit in Game 2. Playing Game 7 on the road in another hockey-crazed sports town.
Yet they overcame it all and flew home from Vancouver after that historic night with the most famous trophy in all of sports to a city and state ready to give them the hug of all hugs.
From the fire engines and harbor patrol that spewed fountains of water upon the plane’s arrival at Logan Airport, to the parade a few days later before millions of people, to … finally, last night’s closure which was set to the most inspiring music and loudest city roars I’ve ever heard in my 50 years.
Here’s a taste … the whole thing is incredible, but you can jump to the five minute mark for the final music & banner raising.
You see, Boston is a hockey town. And it was a 39 year drought often full of “close, but no cigar” years.
The Bruins could go 0-82 this year, and the Banner and accomplishments it reflects will never be taken away.
There’s not enough virtual ink.
And while I could go on for pages talking about the absolute necessities for a trader to always remain humble, focused, and forgetting the past the split-second it’s gone, it’s also OK to spend one day to look back and celebrate the toil.
Did I celebrate the end of my 2008 $1.6 Million trading run to the top of my industry’s asset class?
You bet in what remains one of the most viewed posts in the industry where the following excerpt still rings true …
Yet for one night, we’ll dance. We’ll freeze this ever-so-brief moment as long as we can and dance away tonight like tomorrow will never come. We’ll stand in awe of the magic of a fully matured Bamboo, which will forever remain a testament to Man’s ongoing battle with patience, fortitude, and endurance.
Regardless of what happens in 2009 and beyond, no one will ever be able to take 2008 away from me. Ever. Like other far more important life milestones, the year will find its own place in a corner of my heart that I’ll be able to tap whenever I question my ability to conquer a challenge in front of me.
And if you haven’t figured it out by now, this blog goes far beyond my trading race. It’s about life’s race. Trading is a game … nothing more. It pales in comparison to life’s true priorities, and simply provides us with the analogy of all analogies, and parable of all parables. It provides us with a unique practice field on which we can learn and then try to apply the principles to life. The better we trade, the better we live, and the better we live, the better we seem to trade. For me, the $1.6M score will mean nothing unless I can now apply the learned principles going forward, especially to life.
If you read the entire post, you’ll see that God received the true glory … for like the Bruins, “team” will always override individual.
As for tomorrow?
Yes, the Bruins must move on and focus on the new journey at hand, just as I had to do in 2009 and beyond.
Yet the taste of victory that represents the 365-day toil – that no one will ever understand who hasn’t been through the incredible daily sacrifices involved in trading or sports - will be forever sweet. For if one inhales for 364 days, one HAS to eventually exhale … if only for a day.
And there IS one final page to read before fully turning the page on the historic 2011 Boston Bruins season as I learned earlier today that my family has been invited as guests in a Private Suite Saturday night overlooking the same ice on which the Banner was raised last night.
At 6:30PM ET, THE Stanley Cup will be brought to our suite.
And at 6:31PM, this trader & hockey fan will wrap the cup with both arms in a full embrace.
Trading After Dark Interview – Last week, I had the pleasure of speaking with David Penn of TradingMarkets.com about the Trading After Dark effort, which continues to take the industry by storm. The interview is about an hour long, and is the topic of this week’s “Big Saturday Inteview” on the TradingMarkets site.
PivotPoint Webinar – I also had the pleasure of participating as a panelist last evening for a PivotPoint Advisors webinar, the recording of which is available here. I’ll also update the PivotPoint Briefing over the weekend.
Prop Firm Expansion – I’m continuing my expansion of my recently-established prop firm by adding a Jellie trader located in Europe to maximize time-zone efficiencies and better balance my schedule. I’ll provide the capital. Serious inquiries only.
Jellie Webinar Discount – Finally, I’m continuing the 16-Hour Jellie Trader Training Webinar Series $250 discount through the weekend. If you’re interested, simply email me at firstname.lastname@example.org and I’ll email a special discounted invoice.
Enjoy the weekend.