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"Michael is a gifted trading mentor. Over the course of several initial conversations he was able to assess my situation and recommend trading strategies that were harmonious with my personality; while at the same time attending to my family’s financial needs. I cannot stress enough how life changing this was for me." --JC, Kansas

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"This is a great book for novice and experienced traders. Soaking up its wisdom distilled from experience and introspection will help you become more successful. And that's true even if it doesn't make you a penny." --Aaron Brown, AQR
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I’ve been extremely fortunate in my life. I work harder than most and my discipline is unmatched, but I’m also lucky in some regard – and I know it. Taking a page from Napoleon Hill and others, I believe that it’s important to give back to the community. Doing free webinars is one way, and helping traders in a more customized manner for them to evolve is yet another.

It’s important to me spiritually to help other traders, even if they don’t become consulting clients per se. I personally respond to each email I receive and do my best to point people in the right direction even if there isn’t a good fit for our working together.

Yes, I do have premium consulting services, but the most valuable feedback that I receive – and what I value the most – is when I get an email out of the blue from someone who I’ve coached or steered right, that expresses their gratitude for my help. I love a full karma bank!

Here is some of that feedback:

From 1 day ago:

Hi Martin,

I am a trader in United Kingdom & have been following your blog for last 4 years, its the first thing i check every day when i get online. It would not be understatement on my part to say that there is nobody else who influenced my trading and emotional outlook as much as you have. I remember my self 4 years ago as someone who is trend follower & trying to trade every market mechanically. I had no idea about the roll of probabilities, position sizing and risk control. The advice everywhere is that dont trade more than 1% of total equity.

U.A.
United Kingdom

__________________________

From August 14, 2012:

Michael,

I just wanted to say thank you for all of your work. Reading your book taught me to kill my ego… My life has never been the same since. I just wanted to take a min to remind you that your work is changing lives…

Warmest Regards,
N.C.
Houston, Texas

and from the same person 4 days ago:

Michael,

Thanks again for your emails back a few months ago. Your advice really helped me get through some tough times, and your words of encouragement got me off my Plateau. If I wrote you 1,000,000 times and said “Thank you”, that still would not suffice.

Happy Holidays,
N.C.
Houston, Texas

____________________________

From December 1:

Dear Michael,

…I read your book last night. So much tension dropped from my body because of all the pressure your words released. Very helpful insights for my many terrifying situations.

Although I have heard of the idea before, you explain using feelings to trade in a way that is very helpful. I hope to improve on this skill as I go forward.

S.D.
Manhattan

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I think Ana Gasteyer was one of the funniest cast members on SNL of all time. Long before people included “ROTFLMAO” in their Tweets, they were actually ROTF laughing their a**es watching her. Her impersonations on SNL are timeless…

This clip was part of Weekend Update with Norm MacDonald and called Cinder and Sarah. The clip features Gasteyer as “Cinder” with the show’s musical guest Sarah McLachlin where they sing the now famous Thanksgiving classic Basted In Blood. From Season 23, Episode 7. Original air date: November 22, 1997.

Sorry about the commercial on Hulu…

Basted In Blood

We gather together
For yams, beans, and cranberry sauce.
But have you given much thought lately
To the turkey holocaust?

200 million noble birds
Slaughtered every fall.
Ain’t no difference between Hitler, Stalin,
And the folks at Butterball, Butterball.

So set your tables, America
From Birmingham to Branson.
But when you carve that turkey
You’re a finger lickin’ Charlie Manson.

Enjoy your pumpkin pie,
Your buttery Idaho spuds,
Grandma’s chestnut stuffing,
And a turkey basted in blood.

Basted in blood
Basted in blood
Basted in blood
Enjoy your turkey, enjoy…
Basted in blood
Basted in blood
Basted in blood
Basted in blood
Basted in blood
Basted in blood.

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crudeoilvolatility 300x207 Trading Crude Oil Is Not About Elevating Your Status As A Trader $CL F

Trading oil may seem exciting and where it’s at because the oil market is mentioned in the news every day. Trading it may make you feel like you’ve elevated your status as a trader.   Like many commodity futures contracts, the black gold can be volatile. And while you may find that exciting, be sure your account — and your nerves — can handle the volatility.

A good litmus test is to look at the 20-day Average True Range, or ATR. The ATR does what it says on the tin: it gives you an idea of the average range the price can move on any given day based on an average of the last X days (in this case 20). I like to think it gives me a idea of a contract’s personality.

Looking at Crude Oil: Light Sweet Crude Oil (West Texas Intermediate) The ATR is currently $2.14.

Now given that the standardized contract size is 1,000 barrels, you can expect the average daily non-directional movement to be $2,140 – a potentially large swing in your equity.

Is your account big enough to trade the contract? Consider what I mentioned in an earlier post entitled Meaningful Risk?.

Risking 1% of your account equity, position sizing accordingly would suggest that in order to trade this contract, you’d need capital in the region of $214,000 if you were to place your protective stop 1 ATR away from your entry price.

If you aren’t sufficiently capitalized and you emotionally must trade oil, then you might consider looking at the options offered by ETF’s (Exchange Traded Funds) in the US or in Europe / Australia consider CFD’s (Contracts For Difference). You can also consider trading the mini contracts if your style is suited for commodity futures.

Then there is the question of the thickness of your stomach wall you have for this market. A brief snapshot of the fundamentals surrounding this market at the moment suggest you’ll need a thick one:

* Slowing of World economy: China slow down, European mess
* An understanding of how OPEC works
* The Middle East and the escalating tensions with Syria
* Israel / Palestine bombing in Gaza
* Upcoming Israeli elections and the ongoing problems with Iran
* Iran and its ongoing problems with it seems just about everyone else
* Iraq’s production

If you take all of this into perspective, you may see that by trying to up your status, you concurrently up the probability of taking a destabilizing financial loss. Know yourself.

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Screen Shot 2012 10 22 at 9.32.40 PM 300x180 $MNST   How To Legitimately Hack The FDA

Monster Beverage (chart above) got hit to the tune of 14.7% one day last month on news that the FDA is investigating a possible link to five deaths. Time will tell whether the allegations are true or not, but with the stock now trading about 50% off it’s high, wouldn’t it be nice to be able to find out about the FDA allegations ahead of time?

With the two tools below, any speculator dedicated to his daily “home-work” could have been well ahead of the news.

Tool #1: A bar chart with price and volume, no MACD, RSI or other indicators required.

Tool #2: Education, knowledge about the importance of supply and demand dynamics.

Looking at the chart above, the blue markings identify large distribution days going back to late June, it is clear that smart money has been bailing out of the name, selling on massive downside volume and increased downside volatility is a classic sign that institutions are bailing out.

Selling short, or simply getting out of a name when the “smart money” is aggressively selling is one way to be ahead of the news, one way to “hack” the system if you will.

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This week Frank and I speak about the effect of Hurricane Sandy on the energy markets, including the delivery problems in NY Harbor.

crudeoilhurricansandy 300x156 How Hurricane Sandy Disrupted Crude Oil & Gasoline

December WTI – NYMEX Crude

gasolinehurricansandy 300x154 How Hurricane Sandy Disrupted Crude Oil & Gasoline

December NYMEX Gasoline

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