February 19, 2008
Five Trading Ideas for Tuesday, February 19
The Box came up with five ideas, three longs and two shorts, for Tuesday, February 19th. There are nine days remaining in the “free trial” period, so please email me if you’d like to join the list.
I’ll send out the spreadsheet with the crummy January results (down around 9R) as soon as I polish it up. February has been pretty dull, about even with six open positions.
One guy I talked with in the US who is on the trade ideas list said to me, “Chairman, these are dull ideas… I want you to find something that will double or triple in a short time.” Some people just don’t get it (getting 2R or 3R is a double or a triple!) and I’m more certain than ever that I’ll end up with only twelve loyal subscribers who aren’t looking to get-rich-quick and who understand the value of good risk/reward set-ups.
February 19th, 2008 at 12:18 pm
You could also tell them that if you could constantly find something that would “double or triple in a short time” that you wouldn’t need their paid subscriptions, nor would you be sharing those trading ideas. ;-)
February 19th, 2008 at 2:18 pm
biff: Good point! The most valuable thing about the trading ideas is teaching people to think in terms of risk and reward, setting stops, taking small losses, being consistent, etc. All those things that most people who try to make money short-term trading never do. :-)
February 19th, 2008 at 2:46 pm
When you put it in terms of percentages, the double and triple this guy is talking about is 100%-200% growth. And he wants that in a “short time”?!? Stocks like that are rare indeed, usually mining exploration companies, and picking them is like picking winning lottery numbers.
I’d certainly be happy with a consistent 2R/3R even if it was only 51% of the time.
February 19th, 2008 at 3:53 pm
Cedric: Yes, people seem to have incredibly unrealistic expectations … it’s a kind of dangerous combination of greed and ignorance that afflicts maybe 90% of the people out there (my dozen readers are the smart 10%) :)
February 19th, 2008 at 7:52 pm
You are exactly right
skimming is more fun and more profitable
If they want doubles, tell them to go trade commodities
Expensive lessons out there, let em learn the hard way
February 19th, 2008 at 8:22 pm
CM said:
“One guy I talked with in the US who is on the trade ideas list said to me, “Chairman, these are dull ideas…”
Now I know how to address you should we ever cross paths in your travels. :)
February 19th, 2008 at 8:34 pm
Todd: You can call me Chairman or Mr. Chairman, both are fine. :)