Tag: Daily Support & Resistance Levels

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Heads up: Front month for energies is now April. Front month for bonds/ten years is June as of tomorrow. Front month for grains is May.

Another good read from our friend Peter Davies at JigSawtrading.com:

Ilan: Tell us a little bit about your trading background and how you got started trading.

Peter: In the mid 90’s I was a self employed IT Consultant and ended up living in Knoxville, TN, then I moved to Netherlands, then Denmark, then Japan and finally Thailand, where I ended up starting up an IT firm servicing the client I worked for in Japan. During this time, I managed to save a lot of money which was just sitting there. I ended up having my portfolio managed by a firm of financial advisors. After 3 years, they had lost 30% of the funds. Basically they got into everything that was hot the year before, a terrible strategy in hindsight. At one point, in a meeting with them, they told me they would get back the losses by leveraging my money. They said that all they needed was a 10% gain and the leverage would mean I recouped my losses. I asked them exactly how they would make that 10% gain and they said to me “Well, anyone can make a 10% gain given enough flexibility”. I politely re-determined them that if ‘anyone’ could make 10%, then they wouldn’t have lost 30%. I withdrew all my funds and figured if I was going to lose money, I might as well do it myself rather than paying them to do it for me.

I started out longer term investing but found that hit and miss and while I do still trade on mostly oversold stocks, it was day trading where I found techniques I was really comfortable with. Continue reading “Trader’s Interview 3.03.2017”