December 27, 2007
One Trading Idea for Thursday, December 27
The box came up with one idea, a short of an ETF, for Thursday, December 27. Once I run the numbers on these picks and figure out a consistent money management strategy, I’ll very likely start charging for them. In the meantime they’ll be free, so everyone can enjoy them now.
I’m almost certain that one part of the money management strategy will be moving the protective stop to breakeven after the initial risk is covered.
Please email me to join the list if you’re interested in getting these daily ideas.
Cat: | Time: 11:35 am (utc+8)
December 27th, 2007 at 3:45 pm
I also thought up a new trade idea yesterday. What is it? Well, I need to test and evaluate it first. If it doesn’t work, I promise to let everyone know all the details, free of charge :-)
December 27th, 2007 at 3:48 pm
Carlton: I hope we can all test and evaluate your next one together. :-)
December 27th, 2007 at 4:33 pm
appears to scan for gap opens on volume and use preceding highs and lows as stops?
December 27th, 2007 at 5:05 pm
andrew: No, gaps don’t matter, volume doesn’t matter in my analysis of the box’s methods.
December 27th, 2007 at 8:51 pm
ah interesting.
i sometimes trade gap up/down at open to take advantage of reversals and your box reccos were appearing in my screens :)
December 27th, 2007 at 9:43 pm
andrew: I’m glad you’re able to take advantage of them someway and look forward to your future subscription. :-)
December 27th, 2007 at 10:20 pm
Will you charge more, or less, than Kirk?
What’s Barry charging his paying clients?
I wanna make sure my eventual price is competitive, without leaving too much money on the table …
December 28th, 2007 at 2:08 am
(whining voice) Alriggght. I will pay. But remember I said I owed you my second male child? You still gotta take him.
December 28th, 2007 at 2:27 am
Nice call bought SKK for a 3% gain - couldn’t stay in as the market was turning @ 12:45-1:00 I guess to the $5 I owe you add $40. Or sign me up for a subscription - sorry a woman had to die to make a gain.
December 28th, 2007 at 2:35 am
For the remainder of you guys - I’m holding 5% of my gains, net of losses for MaoX - This was my 2nd advise
I took from him. 2 for 2
December 28th, 2007 at 6:45 am
@Bill: Kirk charges $50 a year and had 750 or so subscribers before his Barron’s feature and after which his paying members apparently jumped over 2000. Kirk doesn’t give specific ideas before-the-fact like I plan to (as far as I know) so I will charge much much more, probably $19.95 a month. I assume Barry charges thousands for his services and I think his monthly newsletter is $40? (Not sure.)
Pricing is very tricky. There’s one old “guru” on the Net who has offered over the years chat services, newsletters, scans, trading systems, books, CD Roms, and trading courses all at various prices (everything from donations to hundreds of dollars a month) and SHE HAS FAILED AT EVERY VENTURE, so I take her example as a cautionary tale.
@zoomie: You already have a second male child… you want to get rid of him now? ;-)
@paul: Just save your money up and prepare to start paying a subscription next year, that way I avoid the “net of losses” bit, lol.
December 28th, 2007 at 8:17 am
Yeah, from looking at Hulbert’s work and the performance records of the newsletters he’s tracked, as well as their pricing, I think about $200 annually is good ballpark for real-time trades with money management, that can outperform the indices long-term.
From what I’ve read, Kirk gives access to his screens, tips & tricks, interviews and Q&A, and “real-time” tracking of his trades. I don’t know if “real-time” is before, or after, the fact. I’m assuming after, since he day trades and swing trades on entry signals during the day.
I am always shocked as shit that anyone would pay Barry for his asswipe services. I’ve seen samples of his newsletter, they had about the same quality of trading content as his free blog does. The new service at Fusion doesn’t provide anything that somebody with the resources to pay for it couldn’t either find elsewhere cheaper, or assemble it themselves.
Personally I see the newsletter route as good diversification of income. If you can trade for a living and still build wealth over the long term, then a little extra builds wealth for you even faster … and is a good cushion in hard times. The big money is OPMM, but that makes the money manager as much as slave to the grindstone as a real job would, and requires “qualifications” LOL.
I think your example “guru” failure may have come, at least partially, from failure to disclose results and tracking, even on a delayed basis. Kirk’s results look really good in aggregate, although a lot of it is the result of one spectacular year and not of a consistent grind of profits, but his disclosure of the results, for free, on a delayed basis provides confidence that his methods work.
December 30th, 2007 at 12:41 am
i think, that there are 3 topic on this, namely money managment, risk managment and expentancy…the sole purpose of mm is to get the most out of a trading system with a GIVEN (positive) expectancy…while risk or trade managment deals with exits to increase the expectancy (multiple R)…anyway, if you have a small acc, you have to override mm rules and trade big and hope that you get away with it… (-: