Who i$ The Commoditie$ Man?
September 3, 2008
I’m a gambler at heart. Both my grandfathers were bookies. In fact, my late father used to tell me that even Al Capone was afraid of my grandfather. So basically, gambling is in my blood. Is commodity futures and options gambling? In 27 years, I think I’ve done more transactions than McDonald’s has served hamburgers and have worked with more than 10,000 retail clients. I ran a branch office for the Chairman of the Chicago Mercantile Exchange and traded in the pits of Chicago. I’ve been up and down millions of dollars in a day. My experience is in real time money. I’ve been in enough market and margin trouble to know how to work my way out, not that it always went my way, but at least I learned how to deal with it. Hopefully I can help you learn how to trade properly, research markets, decipher market direction and execute plans and strategies.
September 16, 2008 at 5:11 pm
Hi Commodities Man,
After the markets crashing the last few days everyone is wondering how bad it will get. My mother has a portfolio with TD AMERITRADE- a combo of mutual funds and stocks and from what i understand, conservative items. Yesterday she said she lost 20% of her portfolio and she is freaking out. She has decided to sell the entire portfolio and buy CD’s. Do you think this is a safe way to go? Thanks!!!!
September 16, 2008 at 5:27 pm
Hi Lori , Im sorry about the losses but I think her timing may me a bit bad right here due to the fact that she sounds like she is in longer term investments and later on I do see the market coming back but from what level is the question. I would have to analaze her positions age income and more in order to give you some free advice If your not a trader and cant watch it 24 hrs a day or dont understand how to protect yourself by the time you pay fees and taxes odds are you will lose. So interest collection is probably the only other way to go . She might consider some zero coupon US inflation backed bonds that pay a guaranteed interst and or adjust to inflation.For every 1000 u buy when kept to maturity because they roll the interst in and compound it they mature at 10000 they sell at a deep discount depending on when they mature. Go to http://www.cardinalcommodities.com my phone number and email are there and Thanks for your reply and reading my blog. (The trade I recommended September 12 would have protected her and would have acted like insurance.)
October 2, 2008 at 5:37 pm
Hey commodities man,
Are you primarily a day trader, longer term trade or hybrid?
Chris
October 2, 2008 at 6:43 pm
Chris Im skilled at daytrading but usually like to day trade the mini dow futures instead of the mini sp easier to watch 30 stocks then 500 I use a volume tracker for exits and some tricks in the morning to catch the momentum, I have my set of rules which is to only do 1 daytrade a day use about a 40-50 pt stop from entry on the mini dow futures and close out by end of day or else it wouldnt be a daytrade . I love complex option strategies and can also build and hold long term positons using a combinations of futures and options which usually drop my margin requirements, and inable me to pyramid winners or adjust losers so I lower my basis,For day trading, check out a 4 min bar on your mini sp and go with the momentum using a breakout method , use the other bar for the stop.exit 3.50 pts or move stop to entry usually works every morning within 30-40minutes and your done for the day. Good Trades…