Commodity Chat With Trader Jim! (tm) with Jim Prince
from January 9, 2007
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Hello and good evening! Trader Jim here. . .
Thanks for joining me tonight. I’m pleased and delighted to be with you this evening. Our new and improved US Charts Online web site was officially unveiled last Friday, and by all accounts it’s a tremendous hit.
In addition, we’ve launched our brand new Premium Alert Service™ (PAS), and it’s been a big hit as well. Plus numerous markets have been on fire lately, so we have a lot to discuss this evening.
If you’ve had a successful paper trade or real money trade, please feel free to discuss your trade details with your fellow Course Members. Chatting about your market experiences lets others know they are not alone in their trading journey. So please share your exhilaration, zest, and eagerness with your fellow Course Members. It provides others with confidence!
I’d like send a “Thank You” to Ken Roberts. Ken first began introducing folks to the World’s Greatest Business over 20 years ago. I was fortunate enough to not only be a student of Ken's, but I also had the great pleasure to work for him for 12+ years. I’m happy to be able to share with you what I’ve learned over the years.
Make sure you take a look at Ken's Ultimate Technique for Success Course too. Find out more information by clicking here.
As we begin this evening’s session, remember the reason these monthly chats are conducted is to: provide you the opportunity to ask questions and to pick the brain of a 20+ year student of the markets and active trader.
It’s not the best use of our limited time here together for me to define basic terms and
explain introductory principles taught in your Course materials. (That’s what our Course Counselors are here for. They can be reached at 541-955-2885) This chat is the time for you to use me to help you apply the basics you’re learning and to prepare you for what to expect once you’re out in the market itself (either paper trading or with real money). And if we have some fun and laughter along those lines, so much the better.
NOTE!!! When commenting on one of the WGB strategies or US Charts, please identify WHICH ONE. Also, when relating trading experiences and/or results, please provide details: Futures contracts, options, options AND futures, etc. This helps others follow along and learn from your experience too.
UK_Kev asks:
Hi Jim.
As an example: The current 1-2-3 in Mar-07 corn, would you still enter a trade in say May-07 corn (using the 370 low on 12/11/2006 as your trigger) even though just a #1 is in place, or wait for a full 1-2-3 before you traded it?
Many Thanks!
at 6:03:52 PM
Hi UK_Kev! Personally. . . I'd focus on March because it is the front month contract. It has the most volume and open interest. If you want to trade the May I'd suggest you wait for the complete formation to take shape and the other criteria of the 1-2-3 strategy. Thanks for joining us tonight!
RogerB asks:
Jim, When buying futures contracts the broker wants me staying in the closest or 2nd closest month. I have to pay a broker fee to stay in these markets as they repeatedly expire and feel I would avoid that cost if I just bought 6 months out in the first place. Is he giving bad advice or will I understand better as I gain experience?
at 6:12:33 PM
Hi RogerB! I don't think your broker is giving you bad advice at all. In fact, one of the things we teach in the World's Greatest Business is to focus on the front month market -- the one with the most volume and open interest. The back contract months often don't move much at all as most of the action is generally in the front month. However, if you plan on staying in a trade for six months then you could do as you mention. Either way the decision is up to you. The bottom line is don't let your broker talk you into something you don't want to do. Remember, he/she works for you!
john asks:
i wasa one of ken's students back in the very early 80's - he made me a millionaire - thanx ken - john timp, tampa , fl
at 6:13:30 PM
Hi john, Glad to read of your success. Keep up the good work and congrats!
kingkat asks:
Jim, you indicated in one of your earlier videos that you do not trade indicators. Any particular reason why?
at 6:18:06 PM
kingkat. . . Indicators lag price action. You can learn so much more simply by learning how to read a price chart and learn how to interpret the price bars. There is NO magic indicator and there is no Holy Grail of trading. Well, check that. There is a Holy Grail of trading. . . it's YOU! It's learning about yourself and how you react to situations with money on the line. Greed, fear and hope do weird things to people. Anyway, my advice. . . forget about indicators and learn about yourself!
bruce asks:
I'm having trouble getting started paper trading because I seem to want to try all the different strategies on every market. Any advice on how to simplify?
at 6:21:04 PM
bruce, How do you eat an elephant? One bite at a time! Focus on one strategy. Paper trade it for several months, then try something else. The thing is you have to give the strategy time. Two weeks isn't enough. You have to determine if the strategy fits your personality. Give it some time. If it doesn't, move on to the next. Also, call a Course Counselor if you need futher assistance. They can be reached Monday through Friday 8:30am to 5:00pm PT, at 541-955-2885.
Phull House From Phoenix asks:
Good evening traders. I am seeing somewhat conflicting instructions on trading strategies. WGB trading strategies say one thing, course counselors say another and the weekly videos seem to flip-flop on the Trend Seeker rules. Specifically, do you enter a trade immediately after the target price is touched (next day, of course)or, do you wait for the price to CLOSE above or below the target? Also, do you wait for a strong Trend Seeker rating or does any up- or down- trend qualify?
at 6:27:02 PM
Phull House From Phoenix. . . I think you're confused. I write the emails, updated the WGB strategies and do the videos. So I make sure they are all insync. For pennants, triangles, channels and the Hi Lo Strategy we wait for prices to close outside of the entry area. For the 1-2-3 strategy we just want to see a break of the trigger area. As far as Trend Seeker goes, there is only one rule and only one thing I'm interested in and that's the Trend Rating. Is it Up, Down, or Neutral. I want the rating to be in agreement with the position I'm taking. If I'm going long (call options) then I want TS to say the market is in an up trend. If I'm going short (put options) I want TS to say the market is in a down trend. I hope this helps.
ChampaignChad asks:
Hey Jim,
For giggles....did March Corn form a "Head and Shoulders top"? LS-381. H-393. RS-392.
at 6:30:26 PM
For giggles.... hahahha. Been forever since I've heard that. To answer your question. . . I don't see a Head and Shoulder formation quite yet. I'd like to actually see more consolidation at what you've called the left shoulder. I do, however, see a 1-2-3 top formation.
SSS asks:
Hi Jim. We are soggy again here in Seattle. In reference to UK_Kev's question if he does decide to trade the May then he would take all his signals from the May contract not the March contract, correct? Even though he starts by looking at the front month.
at 6:33:05 PM
That's the way I do it, SSS. If the May contract doesn't have the formation what will you base your trade entry on? Most of the time there is quite a difference in price from contract month to contract month. So you really do need a formation to trade from. Other wise you'll be all wet (that's a rain induced joke, LOL). Keep avoiding those rain drops, SSS!
SmokinJoe asks:
Hi Jim. March oats completed a 123 top formation, #2 point is 255.5. It closed today at 252.25 and the low was 252. Does the market need to just break the #2 point or does it need to close below the #2 point before I initiate a trade?
at 6:36:13 PM
Just a break of the formation is all that is necessary, SmokinJoe. FYI. . . This just happened to be one of the markets that were featured in today's Premium Alert video for PAS subscribers. I went into detail as to how I would approach this setup. Anyway, I hope this helps. Btw, this isn't SmokinJoe Frazier, the ex-heavyweight champ is it?
vnormth asks:
Delighted to read John's comments! I've been lurking on the chats for years ever since having a 10k drawdawn and feeling like a failure at this...for several years. (yes I paper traded first and was wildly successful...talk about setting up for a fall!)
so just a comment that I'm glad to hear of successful people here!
at 6:39:18 PM
vnormth, great to hear you're still with us. Remember, this is a business that we all learn from every single day. So if you've had failure don't let it keep you from reaching your dreams. You're still at it, so to me, you're a step closer. Hang in there and be sure to check out Ken's Ultimate Technique for Success Course. Click on the banner below for more information.
2860060 asks:
Hi Jim.I enter the March sugar(go short)at 11.09 and put my stop loss at12.09.Is this right spot for stop loss
at 6:42:53 PM
2860060, Placing a stop loss is an entirely personal thing. Since we all have different risk tolerances it's a difficult question for me to answer. Some folks will use strictly support/resistance levels to place stops. Others will use a dollar amount, still others use trend lines etc. The best way I can answer your question is to say this: If you're comfortable risking what you're risking, and it's part of your trading plan, then yes, it's a good spot.
coyotee asks:
Thank you for the premium alert service!!! Ilove it. When you work all day and get home it is hard to stay motivated by studying charts all night, trying to find a particular market that is possibly going to take off. The premium alert service has fired up a new spark in me(: My most difficult part about trading is waiting on trend seeker.Is the soybean oil market as slick as the crude oil markets? Thanks for all you do
at 6:46:27 PM
Howdy coyotee! Glad you're enjoying the new service and you have a new spark in you. I'm happy that the PAS's are under way and I love doing the videos. One of the hardest things for traders to do is to be patient. But if you are, it can be rewarded. Yep, Soybean Oil is a slick one too!
Ronald asks:
ON THE WKLY UPDATE FOR FRI.12/29-FRI. 1/05,IT WAS MENTIONED IN THE "METALS" SECTION UNDER GOLD "TO LOOK FOR A TEST OF THAT PARTICULAR CONTRACT LOW".COULD YOU EXPLAIN THE REASONING FOR THAT? THANKS JIM!!!
at 6:50:07 PM
Hi Ronald, The markets move to support and resistance levels. These levels almost act as a magnet. Plus, when analyzing charts I ask myself these questions: Is the market having difficulty making higher highs or lower lows? What's Trend Seeker have to say? And of course, where are the support/resistance levels located? Again, I take these things into consideration when analyzing charts. So when I find price levels on the charts that have been tested several times (i.e. support/resistance levels), I can guesstimate that there's a good chance that prices may move to that particular level. In a nutshell, that's how I do.
Sam asks:
Hi, Jim - I'm quite new at this business, so my questions might seem quite basic. Do you pay any attention at all to fundamentals?
at 6:52:51 PM
Hi Sam, Thanks for stopping by tonight. No, I ignore all "funnymentals." In my mind there is just to much "news" and and to many "reports" to be able to include them in my trading. I find that most often these "events" are already factored into the charts. So I focus 100% of my efforts on the price charts and the price patterns they develop.
rancher asks:
the gap at the top of corn formation....is this a concern for a closer stop
at 6:56:04 PM
Hey rancher. . . It could be. If it's filled there's a good chance this market makes a new contract high. But right now I'm more interested in the gap that took place in early November. If it's filled, there's a good chance we test the 50% level below it. Time will of course tell.
George asks:
Hello Jim. If the front month makes a formation...say a 123 top, but the option 90 days or more out has yet to make--or complete such a formation--should puts on that 90-day-out month still be bought on the information of the front month, or should I wait until the formation completes itself on the further-out month before entering?...George
at 7:00:33 PM
Hi George, Good question but one that unfortunately takes more time to answer than I have here. But all is not lost! I recently did a video on this exact subject! When you log into the US Charts web site click on the Training Videos tab. Then locate the 11/22/06 video titled "What Month Options to Trade". The video is nearly nine minutes in length and should really help you. Thanks for the question.
UtahMatt asks:
Hi All - Here's my sucess, since Oct I'm up over $10,000 using the principals taught here. I've used options & future contracts and have come to realization that I perfer future contracts if the margin is under $2000. My goal for this year is a minmum of 30,000 and hoping for 100,000. I'm convinced that the commodity markets offer profit opportunities unmatched for the effort. Thanks to Ken, Jim and the KRC for helping me to realize and take advantage of these opportunites!
at 7:02:52 PM
Great to hear, UtahMatt! Great to see you have goals too! So many just wing it from the seat of their pants and then wonder why they never get what they want. Anyway, glad to see you're on track and thanks for the kind words. Keep on truckin'!
tradetracker asks:
Hi Jim! The past 6 months have been fantastic!! And the Premium Alerts are FABULOUS!!! Two questions, please. How long will these premium alerts remain on screen for future referral? And, when will your daily trading preparation video be ready? Thank You!!!!!
at 7:07:22 PM
Thanks for the nice words, tradetracker! Glad you're enjoying all we have to offer. We have a fantastic team here and are doing our best to help you all reach your goals. The thought for now is to archieve 12 Premium Alert videos at any one time. As far as a trade preparation video. . . I'm not sure that I even know about that. But I am working on another project that has to do with developing and establishing a Trading Business Plan. I'll keep you posted. Thanks for your interest.
Hope in Oregon asks:
Jim - Love the Premium Alert Service!! It is really good to look at the markets on an in depth and frequent basis. Thumbs up
at 7:08:20 PM
Thank you very much. Wow, I'm blown away from all the nice comments about the PAS. I'm glad you're all enjoying the service. Thanks again!
Eric in Fort Worth asks:
Jim, besides formations such as triangles and pennants, do you put much stock in broad basing formations as Ted Warren did? For example, Mar. Lumber appears to be forming a strong base, and prices recently broke the downtrend line and appear ready to head upward. What's your take? Thanks.
at 7:10:22 PM
Sure, I believe in a whole lot that Ted taught. In fact, I've read his book probably two-dozen times. Anyway, I personally think that the bases are better left for the stock market. In regards to commodities. . . I feel that triangles work the best based on what Ted taught.
Eric in Fort Worth asks:
Jim, have you ever studied the Elliott Wave theory, and is there any merit to it?
at 7:12:58 PM
Eric, I prefer to keep my trading simple. E-wave counts are too confusing even for the "experts." You'll often find that many of them can't agree on the correct count. Anyway, it's just another reason why I don't use indicators.
UK_Kev asks:
Hello again Jim.
Do you/would you ever enter similar markets in opposite positions using different strategies if the charts told you so? For example: Long Soybeans on a high-low and short Soybean meal on a 1-2-3 top.
Thanks for these chats, the videos and everything you do to help us all!!
at 7:17:56 PM
Sure, UK_Kev. I trade chart patterns. So if a pattern is on a Soybean chart pointing one direction, but a different pattern is on a Soybean Oil chart pointing the opposite direction, I have no problem trading them both. Good question and thanks for the nice words.
ChampaignChad asks:
Thanks Jim. One should always remember to laugh :). I would trade off of the 123 anyway. More solid. Also...I like the new set-up with UScharts online. Good job.
at 7:19:26 PM
Laughter is indeed the best medicine. Thanks and glad you like the "new" US Charts web site.
rick asks:
Just wanted to say thanks for the new web site, i especially like the "my chart book" feature, best thing since sliced bread.
at 7:20:26 PM
Cool, rick! I agree. That's a great feature our programmers came up with. It's the new "Wonder Bread!"
jimbo asks:
Hi jim . the premium alert service is great thanks . On one of youre traing vidios you used 8 words that struck me like a sledge hammr "TRADE WHAT YOU SEE NOT WHAT YOU THINK" now im waiting to shop for options after the break out not before bought may 10 sugar put yesterday so will see .Question how is opening price determend on any commodity on any given day . sometimes you see a big jump in opening prices thanks again
at 7:23:44 PM
Howdy jimbo! Glad you took the words to heart. Us traders have a bad habit of trying to out think the markets. Let me tell you that the markets are a lot bigger and a lot smarter than we are. So it's best to trade what we see. The opening price as well as the high, low, and close are based on supply and demand. When you see a gap it's quite possible that a news report or something similar was released causing traders to be anxious, thus the crazy openings.
camtoo asks:
Jim I am interest in the Preium Alert Service. Can I get a Demonstration on how it works?
at 7:27:09 PM
The Premium Alert Service (PAS) is a separate subscription based service. The closest thing to the PAS are the free weekly Training Videos that are available to all US Chart Online subscribers. If you're a subscriber to US Charts Online be sure to check out these weekly training videos. I think we have close to 5 hours of video now achieved. To learn more about the PAS click on the Premium Alert tab within the US Charts web site.
SmokinJoe asks:
Naw Jim, this is the other SmokinJoe, the one that's learning to trade.
at 7:27:46 PM
LOL, we'll okay. Just thought I'd ask since I'm a HUGE fight fan. LOL
john asks:
jim: tell vnormth to trade the patterns that ken has ideed - maybe 6 or 10 good patterns: channels, triangles, 123's etc. they dont work all of the time - but work most of the time - dont be afraid to take the trades - if it looks like a pattern then it is a pattern - take the trade - good $ mngmet - IT WILL WORK - forget the indicators
at 7:28:43 PM
I couldn't agree more, john!
SILVERBULLYTT asks:
Jim, I want to compliment you on the new Premium Alert service. Just from the first two days, I can see how this is going to help me focus on where the action is. I like everything about the new site design.
at 7:31:39 PM
Thanks for the nice comments. When Ken turned the reigns over to CRB last Spring he new what he was doing. The entire team has done an AMAZING job for you all. I can't begin to say enough good things about the folks at CRB/US Charts. I think you're seeing just the very tip of the iceberg!
kingkat asks:
Kingkat again Charlotte, NC regarding stops:in a trade, would one call your broker everyday to move the stop, or would you submit a new stop everyday electronically if you were trading online?
at 7:33:57 PM
Feel free to call your broker every day. Or if you're trading online move your stop there. Either way works. But only move your stop if it's part of your plan. You never want to get to a point of arbitrarily moving it. That's why it's sooooooo important to have a plan before entering a position.
NewbieTex asks:
I love the new website and love, love the new Premium Alert Service. My thanks to everyone who worked so hard to bring us these new offerings. WELL DONE!
at 7:34:41 PM
You folks are too much. Thanks again for all the nice compliments. They are much appreciated.
dewey asks:
dewey in las vegas:
hey jim, i concur with coyotee...the pas is great...it has sparked my interest in trading again. looking forward to much success. thank you
at 7:35:19 PM
You're welcome, dewey. Glad you like them. Thanks for joing us this evening.
Katgirl asks:
Hi Jim, what is the other criteria for the 1-2-3 strategy. (other than the break below the #2).
at 7:38:00 PM
Hi Katgirl, the other criteria of the 1-2-3 strategy is to have Trend Seeker's Trend Rating pointing in the same direction as the breakout. So, for example, if a 1-2-3 top has formed we want TS to say the market is in a down trend at the time of the break below the #2 point (if not shortly before or after). For more information be sure to check out the complete strategy at the WGB Members web site.
SILVERBULLYTT asks:
Dittos to what Coyote said...the premium alert service is excellent. With just two days' of alerts I can see how this is going to help me focus on where the action is. Everything about the new site design is excellent.
And to the writer who took heart from Florida John's success story, you can do it too! In my early trading I took some heavy duty licks---almost all of them intimately connected to GREED. But if you learn to manage your risk and not swing for the fences on every trade, you are in for the long haul. Trust me..if I did it you can too!
at 7:39:09 PM
Great advice and I'm glad you enjoy the PAS! Thanks!
trwtrader asks:
Jim,
March corn has a 1-2-3 top in place and Trend Seeker changed to down today. Would you wait for a pullback before entering a short position tomorrow or get in the market tomorrow? Thanks!
at 7:45:28 PM
Hi trwtrader, Personally I'd prefer to wait for a pullback to the breakout point. This market was down 9 cents today and is now roughly eight cents below the break point. A pull back would be ideal. I just despise chasing a market. Btw, this market has been featured in each of the first three PAS videos.
Investolator asks:
Jim, when a trade is placed, does it trade on U. S. markets or world markets, reason is my broker ask if I wanted my stop to work daytime or overnite?.
at 7:50:30 PM
So many of the US markets are now 24-hour markets. With the CME recently purchasing the CBOT I'm sure we'll see even more markets move to "24 hour" status. There are both day and evening sessions in many markets. Not knowing what market you're trading makes a direct answer difficult. That said, this is definitely something you need to clarify with your broker. Thanks!
dan from dallas asks:
Hi Jim, I've been learning this business off and on for quite some time. I need some help with the psychological aspect of trading. I would like to thank you for all that you are doing as I hope to make this my next career, so I thank you.
at 7:54:56 PM
Check out Four Star books. It's exactly why Ken Roberts started that book store. Call them and tell them what you want and they'll be happy to help. You can also visit them online by clicking this Four Star Book Company link.
RogerB asks:
Jim, Just a note on your new screens and service. Your support team, Lowdon and friends I assume are great at getting back with us when we have concerns. Give em a raise
at 7:56:05 PM
I second that. But he'll have to check with the boss! (LOL)
mrbaxtor asks:
Jim, I just learned a few things from listening to funnymentals, don't. It's one of the hardest lessons I learned. One day its a shortage then the next day there isn't, how can this be. Anyways Itried tying in price action with what the funds and analysts are saying and guess what they are wrong. Only the charts tell the truth. Both cocoa and corn are good examples. I simply want you to validate that you never trade based on anything other than price action, never. If not tell me cases where you do.
at 7:58:59 PM
Price action is KING (or Prince if you will)! I say it all the time mrbaxtor. In my opinion you only need to learn to read charts and the patterns they develop. It all goes back to the KISS method (Keep It Simple Silly). Sometimes a hard lesson learned is the best lesson because you're less likely to repeat it!
Tre-Tre from Toronto, Ontario Canada asks:
Jim this is for vnormth and anyone else who has had trouble with their trading we all make mistakes learn from them, experience is the most important thing when trading futures and options so don't give up.
at 7:59:46 PM
Tre-Tre is in the house! Thanks and good points!
darek asks:
I subscribed to PAS today. When will I get the first e-mail?
at 8:02:39 PM
darke, you may not have made the list today depending on the time you ordered. If that's the case, just go to the US Charts web site, log in. And then click on the Preimum Alerts tab on the web site. The PAS for today, as well as the others, are available for you to view. Enjoy!
Barkn from KCMO asks:
Hi Jim... First off, I Love the new look at U.S. Charts! Job well done, they are so much more user friendly and provide so many great features. Same with the Premium Alert Line! Now for a question. I notice TOVI isn't mentioned much anymore. Is there a reason you don't utilize TOVI for research?
at 8:05:00 PM
Hi Barkn from KCMO, Thanks for the nice words about the Chart site and the Premium Alerts. We utilize the tools we have at US Charts Online as TOVI is not a part of our company. Thanks for question.
luckpup asks:
luckpup chicago il Hey Jim just a quick question-you said you dont trade with indicators, but would'nt you consider trend seeker an indicator? ALso do you have any percentages on the trend rating's accuracy? Keep up the good work!
at 8:11:40 PM
Hey there, luckpup! Good question. I don't put any indicators on my commodity charts. I use TS as a filter only. I don't base my entire decision on what it says -- only a part. TS analyzes the markets based on its proprietary formula and the spits out a response. I combine my chart reading ability with TS and that's my "method." As far as percentages on the Trend Rating. . . I don't keep track of "percentages." After you look at enough charts you'll begin to see the power of this filter. "Keeping track" isn't something I consider necessary. But don't take my word for it. Paper trade the Trend Rating yourself. Give it some time and I think you'll be amazed and delighted. Thanks again for the good question.
ready2win asks:
hi jim. received my notice regarding PAS this past weekend and will be subscribing before the end of the week. You all are amazing as I continue to be amazed at the tools that continue to assist us and the cost effectivness to all of us. I have seen other organizations who say they are there for the agent/consumer but create tools at such a high price it is unattainable. Not KRC/US CHARTS..... when i read about PAS i felt that it would be a tremendous time saver with people whos schedules are too busy, etc. This has come at just the right time in my life and i am very thankful
at 8:13:17 PM
Thanks and welcome aboard!
tradetracker asks:
Jim. I know you are overwhelmed by all the good words about the new u s charts and the premium alerts but you and your hard working people deserve kudos for a job well done. There are not words to express our gratitude because trading has become exciting and most rewarding. So, keepon keeping on. Its appreciared by all!
at 8:13:30 PM
Thanks again!
joeh asks:
Hi to all from Kansas:
Cash traded a option for 480 put in March Wheat yielded almost dollar for dollar what it cost me $850.00 27 days ago. The contract for the same month would have required $2700.00 yielded $1361.00 your comments.
at 8:14:43 PM
Sounds like you "done good," joeh! Keep up the good work!
Tre-Tre from Toronto, Ontario Canada asks:
oh I forgot eh I look forward to the seminar see you in a week or two.
at 8:15:18 PM
I look forward to seeing you too, Tre-Tre!
Eric in Fort Worth asks:
Jim, do you happen to have favorite markets, or ones that you have done particularly well with? If yes, what would you attribute this to?
at 8:19:01 PM
Well, I hesitate to say this because folks may have a tendency not to look at other markets. So don't let what I'm about to write influence the markets you trade one bit, okay? Alright, one of my favorite markets is the Dow mini. I trade it a lot and really like the movement. I also like 30-year T-bonds, the Canadian Dollar and also lean towards Feeder Cattle and several of the Grains.
George asks:
When I make notes directly on the charts of the new "BETA" system, whenver I hit the SHIFT key, a small box is displayed. Should I save my work and come back to the chart later, these small boxes turn into "?" questions marks. Just wondering if this issue is unique only to me. I make a lot of notes on the charts, and it's a bit tedious to clean up. And, yes, I do have the lates JAVA download. Thanks--George
at 8:22:35 PM
George, this is an issue with JAVA and we are aware of the glitch. An interesting thing to note is that it actually would appear on the old site too. In fact, using this computer right here in the office I would have the same situation arise on the old site. So while it's not new it is something we are aware of and our programmers are working on a fix. Side note: After you save your data and the "?" appears, be sure to delete the "?" and then resave your data. That will get rid of the "?" and is the fix I currently use. Thanks for the question.
luckpup asks:
hi luckpup here again I also love the PAS!! I know you say to develop a plan and stick to it but if your s/l is really near a support point, is it good business to move it if it is only a few cents difference?
at 8:25:35 PM
It really depends on your plan, luckpup. It also depends on the market you're trading, as a "few cents" could mean hundreds of dollars. This is actually a question that you're best to have answered via your paper trading. That way you'll be able to determine exactly what you prefer. I wish you the best!
green asks:
What seminar? Is this the boot camp I heard about? When is it? Is it filled already? If so, will you have another any time soon? Thanks
at 8:28:06 PM
Yep, green, the "seminar" and trading camp are one in the same. The January Camp is sold out but we are in the planning stages for another one down the road. Until then, be sure to keep an eye on your email box. We'll send out a notice once we make a decision. Thanks for your interest!
Well that's it for this month. Keep in mind, that you're not alone in your trading journey. US Charts Online, myself, and our wonderful Course Counselors (541-955-2885) are here to help you become the best you can be. On that note, be sure to check out our weekly video trading lessons at: US Charts Online. This is a fantastic teaching tool and free to all WGB Members and Online Chart subscribers! Simply click the Training Videos tab once you're logged in.
Finally, make sure you have a plan prior to entering any trade and use stops to protect your trading capital. As a trader your capital is THE most valuable asset you have!
Plan your trade and trade your plan!
My next chat will be on Tuesday, February 13, 2007. God Bless and I look forward to seeing you then!
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