Quiz of the Day

re: you got 5 seconds to figure where the heck is the Out of the Gate signal and where is the Finish Line.

re: IWM chart

Then at the top click on Swing Trading Insights. Then click on Red More in the other red boxes.

Now let’s see what Simon Sez in 5 seconds. Yep Simon Sez II wins !

Single click or double click to see a larger view.



No one has responded to your “quiz”. So I’ll comment on a portion of it.

Under the ‘Commodities’ section, they pan the PMs and nat gaz and tout the grains and industrial metals. So, two questions arise: #1, How good were those pre-market calls? #2, How timely were they?

The base metals can be traded individually with ETFs that track them and --obviously-- with futures contracts. All the ETFs that track the base metals --except copper-- are hugely illiquid, and trading them shouldn’t be attempted by anyone who hasn’t done their homework. But a basket of the base metals could be traded with DBB. However, if you chart it, you’ll see that the tipsters you’re touting were late to the trade. Worse, they should have been selling today, not buying. So, score MINUS ONE for them on that call.

Same-same with grains. They can be traded individually with ETFs tha track them and --obviously-- with futures contracts. But the ETFs are pretty thinly traded, as is the ETF that tracks them as a group, GRU, whose chart is a ugly mess and was being sold down today. So, make that another MINUS ONE on their pre-market call.

So, my bet is this. If they can’t get two pretty obvious commodity trades correct, what’s their track record likely to be with anything else? In sum, as Livermore advised long ago, depending on tipsters is a fool’s errand.

Full disclosure: I’m long wheat --and ITM on the trade-- just as I’m long avocadoes and making money. So I’d suggest this to one and all. Never, ever waste your time listening to what others tell you to buy or to sell. Do your own homework.


Do you guys put much weight on the PARTP 50,5 (SAR)? I notice that its not routinely on your charts but I did see it when I first started to follow this forum…doc


I use the SAR indicator, but not with its default values. Like any and all indicators, its signals can be approximated with other indicators. So which indicators are chosen to build a trading system depends on how you want your charts to look. Experiment and decide for yourself what works for you.

I’m starting to understand that its about how each of us processes information and make decisions. Also, I might buy something to hold for a while and something else to sell later in the day or write a covered call on whereas others may do other types of investing…doc

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The educational materials targeted at ‘investors’ (as opposed to ‘traders’) typically assume a commonality of means, needs, goals, interests, and opportunities. Oh, for sure, they might throw in a “risk-assessment” questionnaire whose effect is to sort would-be investors into ‘conservative’, ‘moderate’, ‘aggressive’. But by and large, the message to all of them is the same: “Buy stocks if you want to retire rich.”

The educational materials that target ‘traders’ can be as bad for their monolithicness. But the better ones begin with this premise. “What you might be able to do in markets is more a function of your genetics than your bank account.” By that, they mean this. The opportunities that you see and will have the courage to respond to --and how fast you can fix your inevitable mistakes-- are a function of your innate, god-given, hard-wired personality, and that’s neither a good thing, nor a bad thing. It just is. Therefore, know who you are, and pick your markets and your trading methods accordingly.

There’s a trader’s proverb that captures this. “No one can trade another man’s game”, a point that Schwager hammers home in his series on ‘Market Wizards’ where many of them are doing the opposite of each other, and both are making money. And if you don’t think personality matters, put five competent cooks into a kitchen, give them a recipe and the ingredients for a basic loaf of bread, and then come back when those breads are coming out of the oven. You’ll see and taste huge differences in the results. Why? Because everyone has their own way of doing things, and those differences have to be respected and should be celebrated.

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I love that you keep hammering this point in to us who are starting to be regulars on this forum. It’s truth…doc