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  • Digg it UP - Commodity Trading Blunders III, PART 1 - My Early Days As A Novice Trader

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    excitedly about cattle futures. He said, “we’re making nothing but money in cattle, lately.” It’s funny how I remember that after all these years. I asked him to show me the method he'd been using to give trading signals. He used to say, “I’ve got a buy signal today in beans,” or whatever. He showed me a small black book with a list of commodities. Each commodity future contract had a row of black or red numbers next to it. He said the numbers were the 10-day moving average he got each day from the Merrill commodity research office in New York. Management: Becoming A Self Aware Leader
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    I remember a time back in 1981 when I was still trading commodity futures with Max at Merrill. There were no options on futures then. At that point I had stopped day-trading and just did my own longer-term overnight positions. I called all the shots. Max even cut my futures commissions down to $60 plus fees. At the time I was using the Gann charts, cycles and OBV. (on balance volume) Everything was hand charted and calculated. It's interesting how this gives you a better feel verses computer generated charts.

    Anyway, the British Pound futures contract was near five-year highs around 246.00 or so. It was forming a double top on the weekly chart. I kept my own version of monthly and weekly futures cycles on the chart. It was a simple method. I just used a pair of dividers and estimated the length of the dominant ones from the past. I marked their high and low points and then projected the next high and low into the future. I followed about four major cycles for British Pound futures.

    One day in January I noticed that all four cycles were close to lining up at a high price area - a cluster. This was a rare timing event. The OBV (on-balance-volume) was running away on the downside suggesting big distribution. These things don’t always work, but when they line up, I consider it a high probability futures trade worth taking. If you’re wrong, you get stopped out and move on. I called Max and sold one BP futures contract short.

    For a day, nothing happened. I decided to stop in and see Max for a friendly visit. When I got there, I could hear the familiar raspy sound of his little news commodity ticker machine spewing out information on a tight paper roll. Probably, no one would ever read it. Those of you who traded commodity futures 25 years ago probably know the sound I’m talking about. I just smiled, remembering how that was my universe of commodity trading ideas only a year ago.

    Max started talking excitedly about cattle futures. He said, “we’re making nothing but money in cattle, lately.” It’s funny how I remember that after all these years. I asked him to show me the method he'd been using to give trading signals. He used to say, “I’ve got a buy signal today in beans,” or whatever. He showed me a small black book with a list of commodities. Each commodity future contract had a row of black or red numbers next to it. He said the numbers were the 10-day moving average he got each day from the Merrill commodity research office in New York. This Is Very Useful Information On Offshore Asset Protection Trusts
    When you look into Offshore Asset Protection Trust you are likely to wonder what it is and why you might consider one. An Offshore Asset Protection Trust is a way for you to protect your Foreign Assets not on American Soil. Offshore Asset are where you have a Bank account in another, own property that is not on U.S. Soil or U.S. owned lands. These can include businesses and homes in different countries.There are many parts of the Offshore Asset Protection Trust. One part is the Exotic Trust Arrangements and Pseudo Trusts. These are provisions that the U.S. is unfamiliar with and can pertain to private trust, company arrangement, purpose trust, and other did my own longer-term overnight positions. I called all the shots. Max even cut my futures commissions down to $60 plus fees. At the time I was using the Gann charts, cycles and OBV. (on balance volume) Everything was hand charted and calculated. It's interesting how this gives you a better feel verses computer generated charts.

    Anyway, the British Pound futures contract was near five-year highs around 246.00 or so. It was forming a double top on the weekly chart. I kept my own version of monthly and weekly futures cycles on the chart. It was a simple method. I just used a pair of dividers and estimated the length of the dominant ones from the past. I marked their high and low points and then projected the next high and low into the future. I followed about four major cycles for British Pound futures.

    One day in January I noticed that all four cycles were close to lining up at a high price area - a cluster. This was a rare timing event. The OBV (on-balance-volume) was running away on the downside suggesting big distribution. These things don’t always work, but when they line up, I consider it a high probability futures trade worth taking. If you’re wrong, you get stopped out and move on. I called Max and sold one BP futures contract short.

    For a day, nothing happened. I decided to stop in and see Max for a friendly visit. When I got there, I could hear the familiar raspy sound of his little news commodity ticker machine spewing out information on a tight paper roll. Probably, no one would ever read it. Those of you who traded commodity futures 25 years ago probably know the sound I’m talking about. I just smiled, remembering how that was my universe of commodity trading ideas only a year ago.

    Max started talking excitedly about cattle futures. He said, “we’re making nothing but money in cattle, lately.” It’s funny how I remember that after all these years. I asked him to show me the method he'd been using to give trading signals. He used to say, “I’ve got a buy signal today in beans,” or whatever. He showed me a small black book with a list of commodities. Each commodity future contract had a row of black or red numbers next to it. He said the numbers were the 10-day moving average he got each day from the Merrill commodity research office in New York. Tips to follow during HYIP investment
    Though HYIP can be very profitable but there is always a high risk involved. There are hundreds of scammers out there waiting just to rip off your money. If you are not careful enough in choosing the right HYIP than there is a big possibility for loosing your money before even getting any profit. This is how this HYIP world works. So in order to minimize the risk you need to keep the following things in mind.Never get greedy, control your emotions. Invest only what you can afford to lose. You need to have a lot of patience. A due diligence check on the program is a must. Alwf dividers and estimated the length of the dominant ones from the past. I marked their high and low points and then projected the next high and low into the future. I followed about four major cycles for British Pound futures.

    One day in January I noticed that all four cycles were close to lining up at a high price area - a cluster. This was a rare timing event. The OBV (on-balance-volume) was running away on the downside suggesting big distribution. These things don’t always work, but when they line up, I consider it a high probability futures trade worth taking. If you’re wrong, you get stopped out and move on. I called Max and sold one BP futures contract short.

    For a day, nothing happened. I decided to stop in and see Max for a friendly visit. When I got there, I could hear the familiar raspy sound of his little news commodity ticker machine spewing out information on a tight paper roll. Probably, no one would ever read it. Those of you who traded commodity futures 25 years ago probably know the sound I’m talking about. I just smiled, remembering how that was my universe of commodity trading ideas only a year ago.

    Max started talking excitedly about cattle futures. He said, “we’re making nothing but money in cattle, lately.” It’s funny how I remember that after all these years. I asked him to show me the method he'd been using to give trading signals. He used to say, “I’ve got a buy signal today in beans,” or whatever. He showed me a small black book with a list of commodities. Each commodity future contract had a row of black or red numbers next to it. He said the numbers were the 10-day moving average he got each day from the Merrill commodity research office in New York. Base Strategies - Do You Know Yours?
    A companies base strategy establishes the crucial foundation upon which to plan and build a competitive advantage. It represents the game plan that focuses on how you will succeed in your current business environment. It details how you will leverage your strengths and minimize your weaknesses versus the competition; once established it will serve as a guideline for overall decision-making, resource allocation and new product or service development. In general there are many basic strategies that a company could follow however for the sake of this analysis I will focus on five.1. Commodity Driven Strategies are typicre wrong, you get stopped out and move on. I called Max and sold one BP futures contract short.

    For a day, nothing happened. I decided to stop in and see Max for a friendly visit. When I got there, I could hear the familiar raspy sound of his little news commodity ticker machine spewing out information on a tight paper roll. Probably, no one would ever read it. Those of you who traded commodity futures 25 years ago probably know the sound I’m talking about. I just smiled, remembering how that was my universe of commodity trading ideas only a year ago.

    Max started talking excitedly about cattle futures. He said, “we’re making nothing but money in cattle, lately.” It’s funny how I remember that after all these years. I asked him to show me the method he'd been using to give trading signals. He used to say, “I’ve got a buy signal today in beans,” or whatever. He showed me a small black book with a list of commodities. Each commodity future contract had a row of black or red numbers next to it. He said the numbers were the 10-day moving average he got each day from the Merrill commodity research office in New York. Disability and Employment Issues
    Disability - The Red Flag!Disability - What Do We Mean?The term “disability” is widely, and loosely used, to cover a range of functional impairments, injuries or loss of function. Some disabilities (such as short-sightedness) are quite socially acceptable and provide no barriers to social interaction, services or employment. Other disabilities, such as mild hearing loss, are not apparent to others and can be managed with a minimum of difficulty.Unfortunately the word disability suggests high dependence and a lack of competence in the minds of some. Underlying prejudice often focuses on the “difference”, rather than the a excitedly about cattle futures. He said, “we’re making nothing but money in cattle, lately.” It’s funny how I remember that after all these years. I asked him to show me the method he'd been using to give trading signals. He used to say, “I’ve got a buy signal today in beans,” or whatever. He showed me a small black book with a list of commodities. Each commodity future contract had a row of black or red numbers next to it. He said the numbers were the 10-day moving average he got each day from the Merrill commodity research office in New York.

    He said that after all these years as a commodity broker (since 1962) it’s come down to this – a simple 10-day moving average. When the daily closing price crossed above the average, it was a buy signal and blue pencil. When price crossed below, it was a sell signal and red pencil. My mouth dropped. And all this time I thought he had a complex futures system that gave, sophisticated “buy and sell signals,” And now I learn the man behind the curtain was using a simple 10-day closing moving average?

    After that day, I never took another of Max’s futures trades. I did them all myself. Whenever he said he had a “buy signal,” I would reply, “You mean price just crossed the 10-day moving average?” I would then snicker. By the way, Max is the one who gave me the original Trident commodity trading book to read. So he obviously was exposed to more complex stuff. He just decided to simply his life, I guess. Max was a likable guy. I learned a lot from him about dealing with people. I’m glad he was my first real broker rather than the Boston Commodity Broker from Hell. That would have been a disaster.

    Back to the story. Here I was in his office and short one British Pound futures contract. It was a good-sized contract and if wrong, I could get whacked badly. I think limit-down at the time was $3,000. I asked him how it was doing and he said it was up strong, like a couple of full points. This meant I was down about $1200. I had more nerve in those days and was sure I was right. Like a gunslinger I said, “Great! Sell me another one at the market!”

    For the first time I saw how Max operated. He hurriedly wrote out a futures ticket, stamped it and then trotted all the way over to the other side of the office to the order clerk. The clerk grabbed it and typed the info into some kind of a keyboard terminal. In all, it took a good two minutes to send off. In those days, I guess that was the state-of-the-art for commodity retail customers. Max returned just as the British Pound market was about to close. We barely made it in. I went home wondering why the heck I added to a losing position. The next day was a shocker...

    Part Two of Two - Next!

    There is substantial risk of loss trading futures and options and may not be suitable for all types of investors. O

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    Kredyty konsolidacyjne Dziewczyna z tatuaże (2011) peb napisy podnośnik warszawa Bank Pocztowy drzwi drewniane