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Editor's Note: We have developed a new "sister" website
devoted exclusively to the "Real Success - Revealed Secrets"
Daytrading Video Course. This new knowledge base is also easier to navigate. In
addition, it goes into even more detail on this comparatively "low
risk" methodology for commodities trading and "day trading."
Successfully learning this trading method is an opportunity for you to
"get on the road to profitable trading." You may read about it here by scrolling-down on this CTCN website, or by
visiting our new site dedicated to this unique trading methodology by
clicking-here: to access Traders
Organization As the Publisher and Editor of Commodity Traders Club News, it puts
me in a unique and privileged position to hear lots of feedback, details and
hands-on type of information about trading systems and success or lack thereof,
trading the commodity futures markets. Having personally talked at length to a
large number of traders over the last ten-years, has given me insight and
intimate knowledge on many trading systems and methods. During those hundreds
of conversations, most every system and trading methodology ever used has been
discussed. This "insider's information" is rare knowledge, known to
only a few. Unfortunately, I have found out it's extremely rare for any of the numerous
trading systems and methods advertised for sale to really work in real-time
actual trading, consistently making money, with low risk, low stress,
reasonable and low drawdowns, and without an undue amount of "work."
Luckily for all of us, I was very fortunate (due in part to my
"privileged position as the editor of CTCN") to finally discover a
methodology which can really "work" in real-time trading. Read
on for all the details . . . on this relatively simple common sense approach to
potentially profitable trading, with comparatively low risk, "with
reasonable drawdowns and comparatively low stress." Your editor first heard about "S.A.T." one blustery and cloudy and
cold December day (we were living in frigid Wisconsin at that time, not sunny
warm Arizona) when we received an unsolicited article covering his successful
trading methods, which article was actually a positive response to a negative
article we published the prior month in commodity futures trading club news.
You may now acquire the complete series of "S.A.T." articles and
hand-annotated charts! In case you wondering what "S.A.T." stands for. It was originally
the (second) non-de-plume name CTCN gave this apparently highly successful
trader, who by the way wrote these articles under a different non-de-plume of
his own, as he wanted to avoid being identified. However, as time went by it
stood for a lot more than simply non-de-plumes. "S.A.T." now stands for "Revealed Secrets" or "Real
Success" (TM), which is extremely descriptive, accurate and very fitting
words, and revealed in these articles. Throughout this letter and Info-Guide you will see the letters
"S.A.T." used repeatedly. Please keep in mind whenever "S.A.T.
" is mentioned or referred to, your editor or the author/contributor is
actually referring to CTCN's own copyrighted trading methodology known as
"Revealed Secrets or our Real Success methodology." We want to make
this clear, so please understand this web site doesnot offer
"S.A.T.'s personal trading methodology or system but is CTC's product and
methods. However, all the incredibly valuable "S.A.T." articles and
personal annotated charts, which are all copyrighted by CTCN, are included with
our package and available to you as part of our Real Success Educational
Course, to help you make money investing and trading in the commodity futures
markets. As mentioned before, originally, S.A.T. was a non-de-plume we used to
identify an overall successful trading approach. It's now a word or letters
which signify CTCN's trading methodology referred to as "Real
Success" We are not referring to a specific individual trader or his
methodology but our own. Over the past four-plus years we have published many fantastic articles in
Commodity Traders Club News, to make you or save you money covering all aspects
of commodity futures trading. The series of articles using the letters S.A.T.,
which appeared in every issue of CTCN over a 15-month time period written under
the non-de-plume "S.A.T." is very likely the "best of the
best," which may help you trade successfully and consistently, with
amazing small stop-loss orders, low risk and low stress. This all started that December day when the first amazing "S.A.T.
article" arrived unexpectedly at my office. It was in response to a
negative article published the prior month (Nov) in Commodity Traders Club News
about how hard it is to make money trading, day trading in particular. He
originally wrote using his own non-de-plume, as he didn't want his name known
to avoid any subsequent publicity from interfering with his trading.
Subsequently, he asked us to not identify him in anyway, including any use or
reference to his original non-de-plume, which we agreed to abide by. The so called "S.A.T." methodology is an "average guy's
method" in many respects. However, it's far from average in one major way,
namely the real possibility of successful commodity futures trading combined
with the opportunity to achieve consistent profits all from the comfort of home, with reasonably low risk and comparatively low stress.
This Revealed Secrets Methodology uses amazingly small stops of about
60 to 150 S&P 500 market points (depending on market volatility), which
means your average risk on a typical trade is an amazingly low $300 to
$750 per trade! Note: At the time we made the educational video tapes in
April 1996, a 60-point stop in the S&P was working "good."
However, what with today's elevated price levels and volatility higher stops
are sometimes necessary. Sixty-point stops may still be valid but at volatile
times stop-losses ranging up to 150-points are sometimes warranted. "Real Success" methods are referred to as "blue collar trader
methods." By that we mean it's not used by someone like Paul Tudor Jones,
for example. Our Real Success method is not being traded by some money manager
sitting in an "ivory tower" and is not used by well-known fund
managers with very deep-pockets. This method is for small and medium size traders who want to trade
successfully, using a relatively simple approach, which is not
exceedingly technical or complicated. In fact, this unique methodology is
fairly easy-to-use and teach to others. It really doesn't matter if you are a beginner, new trader or
experienced...this is easy to teach and easy-to-use. Still another reason our Real Success method is referred to as a "blue
collar trader method" is it does not make $1,000 or more each and every
day, like many brochures you get in the mail claim or imply you can also do.
In fact, your editor believes it's really next to impossible to make that
much most every day, combined with low risk and one-lot trading. Instead, Real
Success traders are very happy making comparatively small (but significant in
the long-run) profits. You too can do it, by studying and using this methodology, not
"over-trading" and using our conservative money management
techniques. These techniques and methods can make Real Success traders consistent and
steady profits. We may average approximately $1,000 to $1,500 per week net
profits, about $200 to $300 per day, as S.A.T. says he has made in real-time
trading. Also, sometimes we may hit a home run or two (like S.A.T.) and make
$3,000 to $4,000 in a week. All this is based on trading just one contract per position. On the other
side, once in a while this method will incur a weekly drawdown of $500 or more.
But not to worry about reasonably sized and fairly rare weekly drawdowns.
Because the following week may be a more typical week, with anywhere from $900
to $2,000 in possible net profits (like S.A.T. says he usually makes). Keep in
mind, these numbers are based on only one contract per signal. Of course, if
you want to trade two-lots or five-lots, etc., simply multiply the above
numbers. However, keep in mind we prefer one-lot trading because it keeps our risk low and enables less stressful trading, and
less stress in our
life. We have done some fantastic VHS Videos showing CTC's Real Success (Revealed
Secrets) being traded by Dave at his home office. They are concise, hands-on,
and contain great knowledge and are also easy to understand. They are based on
a number of our copyrighted articles written by S.A.T. and other traders and
club members from late 1994 thru early 1996. Also, Dave has added many of his
own wrinkles and secret methods which he has been privy to over the years . . .
his own personal trading knowledge based on trading commodity futures for his
own account since April of 1982, and knowledge volunteered by several highly
successful traders. It can make the Real Success method work even better for
you. These knowledge based hands-on videos, along with CTCN's comprehensive
trading manual and some bonus extras, are offered to traders with this limited
special invitation offer, available for the first time on the Internet. "How An Apparent Negative Turns Into A Positive For You!"
Good News, you may learn this fantastic methodology at sharply reduced cost . .
. $877, instead of the $3,000 seminar package. This is because we have
permanently canceled seminar plans as we are no longer in partnership with
"S.A.T." Consequently, CTCN is able to save you lots of money with a sharply lower
price. Priced at only 29% of the original proposed cost and an incredible
bargain. You will get all the details on how the Real Success methods may make
you consistent and good profits trading for a living from home. Good News for You! We still have limited numbers of these amazing
videos and manuals available. They are available to all traders who want to
trade profitably but at the same time realize the risk involved in trading
commodity futures and are realistic about their chance of easily achieving
great success. The cost of the tapes and manual is a very reasonable $877.00,
plus $20.00 for FedEx S&H (add $60 for foreign express). All you really need to learn consistent low risk money-making methodology
are the video tapes, accompanying trading manual and the (picture is worth
a thousand words) charts. The long-ago planned seminar was really only
supplemental and not needed to learn this method. By the way, a seminar is not really necessary for you to learn this
amazing low-risk money-making methodology. In fact, these high-cost weekend
seminars you see advertised are rarely really mandatory to learn various
trading methodologies. More Good News! As you watch these amazing tapes you no doubt will be
curious about the availability of "omega tradestation" compatible
software, which is the software used in the real-time trading videos. You
should know, software of this type is mainly a visual aid, and it is not
actually required to trade this methodology successfully. Even though computer software is not mandatory, Webtrading has written the
program to do what you will see in our videos on the real-time Tradestation
screen. This program displays colored dots under or above all of the signal
opportunity bars, draws horizontal resistance and support areas, and signal
indicators, including Keltner Channel Bands, all on your Omega Tradestation
Screen. It is available now, as a low cost "user-study" add-in
program to supplement Real Success Trading Course. In keeping with our "blue collar" image we offer this beneficial
supplemental software to you at low cost, only $297.00. You may place your software order NOW. By ordering this great Tradestation
compatible software NOW, along with the video course you will only pay $1,194
total. Friendly and free technical support with either the methodology or the
optional software is available direct from CTCN via 24-hr recommended e-mail,
or fax. Your Editor is expert at this methodology and will be available to
assist you. For your information, CTCN holds copyrights on the name "S.A.T."
and on all S.A.T. articles, as published in Commodity Traders Club News, and on
all comments and contributions regarding S.A.T. made by members. Sincerely and Best Regards, Dave Green, Editor, Pres., Webtrading Co. & Editor of Commodity Traders
Club News P.S.: To get yours, and start you going
on the path to trading success, you need to act immediately. Remember,
the number of CTCN packages still available is limited. Therefore,
please get your copy at once. This may put you on the road to profitable
trading but of course it can not be guaranteed. For your benefit, please don't delay, do it today . . . be sure to order this NOW! "The Amazing & Thrilling Story About How our
Real Success. . . Revealed Secrets Methodology May Teach You How To
Consistently Make Money, with fairly Small Stop-Loss Orders, Low-Risk and
Surprisingly Low-Stress" "How The Fact The Cancellation of our once planned
Seminar Has Turned Out to Be a Great Benefit to You . . . Because You Can Still
Learn the techniques used by Real Success traders, some of whom successfully
and profitably trade the markets (so you may also do it) . . . At Very
Reasonable Cost of Only $877 . . . compared to its original planned price of
$3,000" Starting on the next page are words to a several CTCN members in reply to
their many phone calls, faxes & letters so they too may trade this great
methodology. Many of our members are always on the lookout for techniques and
methodologies they may use to trade better in the future. Dear Commodity Traders Club News Member, As you know, the "S.A.T." articles were published in Commodity
Traders Club News for a 14-month period. These great contributions have helped
many members immensely with their trading. In addition, many of you have asked
to learn more details about CTC's "Real Success (Rrevealed Ssecrets)" methodology, so club members will also be able to trade
successfully. I know of particular interest to you, is the Real Success methodology
involving our use of amazingly small stop-loss orders of between $300 to
$750 or so. Also, how you may trade consistently, with steady profits and
reasonably low-stress! By the way, about stress, all futures trading entails stress to varying
degrees. Usually, stress levels are extremely high. One of the greatest
benefits you will get from this low-risk methodology is the fact your stress
level will normally be surprisingly low. There are several reasons for our reduced stress trading, including
the fact you may take a 2-hour (or longer) lunch break each day, sometimes even
quitting "work" early in the week. In fact, one of the greatest
benefits of this methodology is the fact stress levels of traders using this
approach are amazingly low. Not only you, but many others have called or written repeatedly asking CTCN
to go into more detail on the "Real Success" method. You have
asked me to make available more details and more hands-on instructions . . .
more in-depth information on ways to make money with reasonably low-risk . . .
a similar trading methodology, like the methods referred to in the series of
"S.A.T." articles written for, published in and copyrighted by
Commodity Traders Club News. We have answered your many requests by
developing these tapes. They are based in part, on many articles written by
S.A.T. and others. In addition, since we have less experience than S.A.T. with
these methods, the profitable trading verbiage used by S.A.T. in his articles
are the basis of our opinions on the chances for trading success, profit
possibilities, and loss and drawdown potential of the overall methodology. I know you have asked for more details and more concise methodology, more
annotated charts, more in-depth instructions, most every possible question
addressed, and most importantly, wanted to study videos of these method in
action, in real-time trading. This way you may learn the secrets of
profitable futures trading with low risk and low stress. Therefore, CTCN has
done these great videos and a trading manual, teaching all the Real Success
(Real Success - Revealed Secrets) amazing methods, in a hands-on way. With these knowledge based hands-on videos and other extras, you will have
the ability to learn successful low risk trading, with consistent profits, low
drawdown and reasonable stress, all from the comfort of your home! Our recent
decision to not have a seminar will actually benefit you greatly, as you will
learn CTC's amazing methodology easier than possible via the seminar route, and
at much lower cost. You will benefit greatly as a result of the seminar
cancellation. Instead of it costing you $3,000 or more to learn this trading
methodology, it will only cost $877. You will get CTCN's complete Trading
Course and new series of VHS Video Tapes, consisting of both real-time actual
trading and hypothetical theatrical trading, both done in real-time using
hands-on teaching methods and detailed instructions, with CTCN's Omega
Tradestation charts and PC screen running in real-time in these amazing
educational video tapes. In addition, we have finished the computer code for CTCN's new software,
which places all buy/sell opportunities and projected high/low
resistance/support levels on your TradeStation screen. This great supplemental
software is not really needed and certainly is not mandatory to learn and
successfully trade this methodology. However, it is an excellent visual aid and
teaching tool, which you will find very beneficial and useful on the road to
profitable commodity futures trading. Keep in mind, this software is totally optional and is not mandatory for
your successful use of the trading methodology. In fact, our Tradestation
compatible resistance and support software (with built-in Keltner Bands), will
work well by itself. It can be highly useful in conjunction with many other
trading methods, in addition to commodity futures trading club's Real Success
S& P 500 market daytrading methodology. We are now accepting orders for CTCN's own amazing Video Tapes and Trading
Course. We have a limited quantity. Therefore, please place your order NOW! As
soon as we get it, we will start working on your 'successful' commodities
trading package. The video tapes are reproduced by a professional video duplication company.
The duplicating company gave us a surprisingly large quantity discount by
giving them a firm order, to keep costs low. This significant video duplication
discount is an important cost-cutting method to save you money. Another way we keep costs low is by our printer doing all trading manuals
with one press-run. Subsequently, we are able to keep our costs low and offer
this for only $877. We will give you free support for up to six-months. Support and assistance
involving both the trading methodology and (optional) software will be
available 24-hrs per day via e-mail or fax direct from Dave Green, who is
expert with this easy-to-use commodity futures trading methodology. In case you are wondering what happens to the funds from this, you should
know the plans are to set aside about 80% of the net income to subsidize
Commodity (Futures) Trading Club News, to keep your future membership cost low,
which will then save you money. The other 20% or so will help fund planned future commodity futures trading
products for your benefit. Including additional software, research and other
products, we will offer you, on the road to being a successful and
independent futures trader. A signed order-form from you is also mandatory. You are also required to
agree (in writing) not to reproduce anything and keep this profitable
methodology confidential. A non-disclosure agreement is required. Therefore, we
require signed mail or fax orders (Sorry, no phone orders will be accepted).
However, you may use our web trading online (Secure) Order-Form and any
additional documents needed will be sent to you. In addition, it is respectfully requested you supply us with identification,
such as a copy of your drivers license, etc. We also need you to jot down your social security number and date of birth.
Of course, all information will be held in strict confidence. I am sorry we
need to have identification requirements. You are assured our ID requirements
are also for your benefit. Best regards and profitable trading to you in the future, Dave Green, Editor, Commodity Traders Club News & Pres. of Webtrading
Co. Keep in mind some of the great benefits of this methodology are: Amazingly reasonable stops of $300 to $750 (at the time the tapes were made
the stops used were only $300) Low Drawdowns are possible can be a Consistently Profitable Methodology Surprisingly Low-Stress - compared to most other methods Relaxed Trading Style Trade only one-contract per opportunity (more contracts only if you want
to, because you want to make more money but have more risk) Only take the low-risk High-Potential Opportunities Quit Your Job - if you desire . . . It's Possible To Trade For A Living
From Home! Or have the security and great comfort of knowing you may do the above at
any time and can be Financially Independent This method may also be used (with modifications) on daily charts and
overnight position trades in other markets. It also may be used in other markets or other market groups, even though
it's more specifically designed for day trading the S&P 500. May be a Lifetime Method for Making Money for you
You will learn from a successful day-trading method, which unlike many other
self- proclaimed trading experts (vendors), (S.A.T.) actually "walks
the talk." However, the "Real Success (Revealed Secrets)"
methodology does in fact do the walk with successful real-time trading
possible from the comfort of your home office. As well-known CTCN member Gary
Smith wrote about those vendors, "They Can Do The Talk, But They Sure
Can't Do The Walk" Yes, anyone can master this method, including yourself. We are willing and
able to personally assist you with no cost free (e-mail) support (for as long
as six-months, if needed - but you will no doubt master this relatively simple
but unique methodology quickly), until such time as you can say
"you now have the methodology mastered." Don't waste your time buying the other systems out there which more often
than not, don't really work in real-time actual trading, consistently
with low risk, low drawdowns, low stress levels, and result in steady,
reliable lifetime trading income. My reputation as the editor of Commodity Traders Club News is on the line in
saying this, but from what I have seen or heard about over the years, the Real
Success methodology is the only method that may "really work" Question: How many trades per day are normally made using the Real
Success methodology? Answer: Normally, there are from two to six opportunities per day.
However, for reasons explained in the video, those opportunities will result in
typically from one to three trades per day, or approximately five to fifteen
trades per week, on average. These numbers are typical when daytrading the
S&P 500 market. Daytrading other futures markets like the currencies or the
t-bond market, will likely have similar trade frequency. Of course, overnight
position trading in other commodity markets will have far less trade frequency
compared to daytrading, as inter-day daily bars are normally used, rather than
intraday 5-minute bars, or other intraday bars. Question: Are there trades each-and-every day? Answer: No, on some days the markets are too choppy, are sideways, or
entail too much risk for our low risk and low drawdown trading style. Our
course will detail the reasons we sometimes will stay out of the
markets, rather than over-trade or make higher risk trades and chance large
losses or high drawdowns. In fact, learning to stay out of the markets at certain times is just as
important, if not more important, than being in the market. It's also one of
the primary reasons this methodology works so well. There is no so called
"over-trading" with this fantastic method. In fact, by you not
trading all the time, it makes this method a comparatively relaxed and
low-stress approach to profitable trading. Question: Are the stops really "low"? Answer: Yes! In fact, reasonably small stops are critically important
to this method's success. Don't believe the "experts" who insist very
large stops are required to trade high risk markets like the S&P. As you
know, many systems use stops of anywhere from $1,000 to $3,000, or even higher,
or worse yet no stop at all! Far too much money to risk on a trade. The secret
is to use this methodology and signal setups, which result in high profit
potential and potentially a high success rate of trading signals, which can be
traded well with fairly low stops. These are basically simple techniques but
major secrets you will easily learn from our videos tape educational course.
Question: Can I trade this method based only on reading the
"Successful Anonymous Trader" articles which have appeared in your
newsletter in the past? Answer: Trying to do it based simply on those articles would be very
difficult, time consuming and entail a greater chance of you doing it wrong. In
addition, his great personal annotated charts are only available with CTCN's
own Real Success Trading Course, which is different from the methods referred
to in the articles. These unique copyrighted (by CTCN) charts by themselves are
easily worth $500 or more. The best way to really learn these methods and fully
understand how it's done is with CTCN's video tapes and trading manual. There's
an old adage saying "It's simple, but it's not easy."
Very true words when applied to our Real Success methodology. This method is
indeed fairly simple but it takes attention, study, practice and work to
fully master it so you may trade for a living, if desired. Question: Are you affiliated with any other trader and is your
methodology unique? Answer: Commodity Trading Club News has no affiliation with any other
trader, vendor, trading system, or with "S.A.T." We are totally
independent. At one time we were planning a partnership with the anonymous
contributor to our newsletter who wrote the series of articles. However, we are
no longer in partnership with him or anyone else. About the Real Success method being unique. Some of the methodology and
indicators are in the public domain and have been used by others for many
years. By the way, a vendor in a Northwest state at one time made ridiculous
claims of ownership to some public domain type of indicators. No one can claim
they own public domain indicators. However, the way CTCN combines the
indicators, methods and techniques into an overall trading methodology and the
way it's used is in fact unique and this is one of the reasons it's copyrighted
by us. Question: Is CTCN's Real Success Revealed Secrets methodology the
same methodology used by "S.A.T.?" Are you using "his
system?" Answer: No and No! There are differences. For example,
"S.A.T." mentions elsewhere he "no longer uses Keltner
Channels." Instead, he said he now uses a moving average. He said this at
about the same time a vendor in a Northwest State was threatening an absurd
suit involving the alleged disclosure and use of Keltner by his former student
"S.A.T." for allegedly disclosing or somehow duplicating his trading
method. In fact S.A.T. talks about this matter himself in an one of his
articles located elsewhere in this report. Question: Is your Real Success method only useful for day trading the
S&P 500 market? May it also be used for position trades or other markets?
Answer: The original tape series concentrated on day trading the
S&P 500 market, mostly using intra-day 5-minute bars. In those original
tapes we also discussed the methodology also will "work" on overnight
trades and in other markets but did not spend much time on the subject. We will
soon make available to owners of our original course, video tapes and an
accompanying annotated trading manual which does not concentrate on almost
exclusively daytrading but spends about equal time on both daytrading and
position trades. Our new course will devote lots of time on both overnight position trades
and on daytrading the S&P. Due to high overnight risk exposure we do not
recommend the S&P for position trades but instead suggest markets such as
currencies, financials, and other markets like some grain and meat markets,
plus energy markets. It seems certain markets work inherently better than
others. The specific markets we recommend and all details will be explained
when you get our upgraded course. Question: How does Real Success use Keltner Channel Bands? Answer: CTCN places great value on "Keltner Bands." In
fact, we rely heavily on them, mostly for trade entries based on "Keltner
Band Retracements" occurring and a subsequent move back into the
"direction of the trend." Keltner Bands are basically the only
true technical analysis indicator we use. We also look at other things, such as
resistance and support levels, past price areas and "swings." Question: I have seen the term "Pivots" used. What are
pivots and how do you use them? Answer: We don't use the word "pivot" much but refer to
these patterns as "Lower Swing-Highs and Higher Swing-Lows." These
are high bars with lower bars on each side, or lower bars with higher bars on
each side. In fact, I believe CTCN coined the words "Swing Highs" and
"Swing Lows" and may have been the first to use them extensively
starting in the mid-1980's. This was many years before we heard of S.A.T. Question: How does your Real Success method use these Swing Highs and
Swing Lows? Answer: Without going into too much detail here, we basically use a
"Lower Swing-High" as a bearish trade set-up, and a "Higher
Swing-Low" as a bullish trade set-up. We have prepared a Free Special
Report on "How To Trade Swing-Highs & Swing-Lows Successfully."
Read our Special Report on this by clicking here .. Successful Trading with Swing-Highs & Swing-Lows.
but be sure to return here after you are done reading the Special Report! Question: Is this methodology really easy-to-use and easy-to-learn?
Answer: Yes ... As explained in the articles and your editor, the
basic concepts and methods are in fact relatively simple. However, doing it all
correctly and following the steps involved, along with good money management
and discipline, result in it being not quite as simple or easy as it first
appears. This is why the hours of videos instructions and comprehensive trading
manual are the best way to go about learning this method, to trade futures
successfully with "low risk." There is some art to the science
and some work involved if you are to do this successfully. You should be able
to learn a way to trade profitably and independently for the rest of your life.
However, there is a degree of "work" involved and a (relatively)
small cost involved. Question: How long will it take for me to learn how to trade this
method profitably? Answer: It's best if you listen to the video tapes at least three or
four times (or even more) so all methodology and instructions are fully
understood and absorbed by you. In addition, contact us at anytime for
assistance with the method. Please keep in mind, you are not acquiring a
fully mechanical trading system. It's roughly 80% mechanical. The rest
is important and the reason for our in-depth videos and accompanying detailed
manual, so you will easily learn the important last 20% or so. Question: Are you limiting the number of courses available? Answer: At one time during our initial course offering in 1996 we
were somewhat concerned about possibly too many traders using the same method.
Since then we have determined the S&P 500 is such a huge and liquid market,
a relatively minor number of Real Success traders would have little, if any,
effect on the market. In addition, since trade selection and other techniques
are in some ways arbitrary or non-mechanical, Real Success traders are using
somewhat diverse methods and different actual trades. However, we still want to
know how many clients are trading this methodology. In fact, one reason for our
Non-Disclosure Agreement and identification requirement is the desire to verify
how many clients are trading this potentially great moneymaking potential
method. Also, very importantly, we need to know how many traders are actually
trading our method so we are able to give good support to everyone. Question: Is it guaranteed? May I get a refund if I'm unhappy with
it? Answer: It has a guaranty of satisfaction as follows. If for any
reason you are not completely satisfied with this method, you may return
everything (of course, in undamaged like-new condition) by the end of month-six
from purchase date for a non-cash Merchandise Credit Certificate good toward
any other products or services of Webtrading Co. - CTCN. Exact guaranty terms
and details are spelled-out in the order-form. A December letter from member "A. F." from Australia: "There
seems to be (in CTCN) this (great) breathless excitement (from members), almost
akin to Gold Rush Fever once readers heard about the highly successful
daytrader "S.A.T." Nikola M. also wrote to us in December: "Reference S.A.T.'s article in
June, a novice looking at the chart and the signals would think how easy it is
to make money . . . (However) the most important message that S.A.T. gives on
the diagrams (charts) are not his indicators or how he trades them, but the two
trades that he mentions (based on) experience . . . S.A.T. and all the
successful people have learned how to live with the changes . . . S.A.T. says
that he trades a couple hours in the morning and a couple hours in the
afternoon. That shows his understanding of today's markets. (I.E.) S&P is
trend-less in mid-day and it is not worth trading all of the time." Prospective Club Member Mr. Wilson Meador also wrote: "I read with
great interest the articles about S&P trading (Reprinted by permission in
Bruce Babcock's Commodity Traders Consumer Report) which was originally
published in your (Commodity Trading) Club News. P.S. Please send me a sample
issue of Commodity Traders Club News." Mr. Wong Seng from Hong Kong wrote in September: "I would like to
attend the possible seminar featuring S.A.T. , but I cannot attend. Is it
possible to have an alternative for members who are interested but can't
attend, e.g., videos, etc.?" Editor's Reply: A number of other
members have also requested videos in lieu of a seminar. Good news: You may now
get CTC's own fantastic VHS video tapes of the Real Success method being traded
by Dave Green from CTCN's home/office. Commodity Traders Club News Editor wrote in a December issue: Editor
Comments and recap of our activities during the year: "My nomination for
the most positive and promising article during the past year is the article by
S.A.T., which appeared in your December issue." His article counteracts much of the negatives we hear on how difficult it is
to trade commodities successfully, in particular with regard to daytrading.
Though daytrading is admittedly difficult, it can also be highly profitable if
done correctly, and good discipline and sound money-management is used. Perhaps S.A.T. will agree to share some of his trading secrets with members.
I will write and ask if he would be so kind to do that in the future. Of
course, he may not want to share his techniques because of fear that if his
methods were publicly known, they would not be effective anymore. However, I
personally doubt that would in fact occur. The markets are too big and traders'
discipline and money-management is usually too small and weak for a successful
methodology to be widely duplicated by others.'' Subsequent note from
Editor: Luckily for us all, S.A.T. did agree to share this successful
trading methodology in future pages of Commodity Traders Club News. The articles from members "S.A.T." and Dave Reiter in January
issue of Commodity Traders Club News are excellent and great benefit to members
and should be read carefully. However, though extremely valuable, some of you
may be somewhat disappointed by S.A.T.'s latest contribution (January issue).
That's because I have received calls and mail from a number of members who had
hoped S.A.T. would reveal a moneymaking 100% mechanical approach. Unfortunately, S.A.T. could not do it, as this approach is NOT 100%
mechanical. In other words, there seems to be some "art of the
science," and other important factors involved in his success."
Subsequent Editor's Note: The Real Success method is about 80%
mechanical. There's a certain degree of "art to the science"
involving the last 20% or so. However, the important 20% will be taught to you
in our videos and trading manual. Opinion on S.A.T. from George Bashar (January issue of Commodity Traders
Club News): "First, three cheers for S.A.T. It is about time a successful
trader countered the critics of daytrading. As he points out, it's absurd to
criticize day trading simply because one has to pay a commission every day. If
one holds a trade for two-weeks, pays the commission and exits with a profit,
is he better off than a day trader who does ten trades in the same two-week
period, pays ten commissions and has a higher net profit? This would seem to be
analogous to saying he would rather make $100,000 per year instead of $200,000,
because he would have to pay more taxes on $200,000. S.A.T. is correct when he
says it is just as easy, if not easier to make a profit day trading, provided
you know what you are doing." Editor Comment (in this February issue): "It is very unfortunate S.A.T.
does not want to disclose his identity or submit additional articles. However,
I will again try calling or writing him in an attempt to get him to change his
mind." Subsequent Editor Note: Of course, I was in fact
successful, as S.A.T. continued submitting articles. CTCN's revealed secrets
methodology, which is based in part on S.A.T.'s articles owned by Dave Green
and Commodity Traders Club, has been enhanced and covered in even greater
detail those famous articles in our hands-on futures trading videos and our
easy-to-use spiral-bound trading manual. The markets current higher price
levels and increased volatility are also taken into consideration. In addition
to the money management and stop-loss methods employed during 1996, the
currently suggested stop-loss levels and other ways to fine-tune the method are
provided to you as a new (free) supplement to the original trading course, so
you may trade profitably. "Traits of a Winning Trader" article by Gary Smith; (same February
issue): I hope the readers of this forum can read between the lines and grasp
what S.A.T. is trying to say in his excellent article in the December issue of
Commodity Traders Club News. In the first place, he tells us he buys strength
and sells weakness. The select few winning traders I've encountered the past
29-years all shared this trading characteristic. Sadly though, the public has
been manipulated into erroneously believing that tops and bottoms can somehow
be miraculously picked. Editor's Note: Yes, this moneymaking
commodity trading method does indeed usually go with the trend, and does not
involve top and bottom picking . . . which as Gary says, is very hard to
do. S.A.T. goes on to say that "good trading is not 100% mechanical."
Amen! Most traders spend a lifetime seeking a totally mechanical system, so
they won't have to think. If not using their brains in trading is their goal,
then they would probably be better off working as extras in some of those Night
of the Living Dead zombie movies. S.A.T. also tells us that he struggled for 8-years before becoming
successful. How many beginning traders would be willing to pay such a tuition?
Most newcomers are completely oblivious to the fact that successful trading
requires a skill and talent just like any other profession. Years of schooling
and on-the-job training are required - Gary Smith. Commodity Trading Club News member Joe Ross wrote in the same February issue
- "Dave, I am very particular about the company I keep. I will not get
involved in writing for a publication where the contributors argue, insult or
carp at each other. A good example of what you should allow is the article in
your December issue S.A.T. If I'm not missing my guess, that article was
written by someone who went through a living hell to learn how to day trade.
(No doubt) He almost lost his wife and kids over it and he lost a lot of money
on the way to becoming a successful daytrader. His article is genuine and well
stated. You ought to get him to write about the rough road he traveled on his
way to success. Such an article would be tremendously encouraging and useful to
your readers. Editor's Note: I worked on just that (during February of that
year). I both talked to and wrote S.A.T. to get him to go into more detail on
his trading methods. I also tried to call him again, but he was on a long
vacation so I couldn't reach him. When you are such a successful trader, you
can afford to take long vacations. Also, as he pointed out earlier, it's good
to occasionally get away from the markets. Fortunately for all Commodity
Traders Club News members and friends of CTCN, I did persuade S.A.T. to
continue writing articles. Subsequently CTCN decided to do these great
educational videos of our own. Don McCullough (following March issue) - Your February issue was a dandy. I
must say that if Commodity Traders Club News continues with high caliber
articles like in the past three-issues, the competition is going to have a
tough time. I'd like to comment on various statements made in February's issue.
What can we say about S.A.T.? A giant THANK YOU for starters for all three of
his inspiring articles. S.A.T., I'd be just like you and would want to maintain
my privacy. I don't like "speaking for others" and don't really think
I have a right to do so, but as for me, you certainly get my sincere thanks.
I recently got hooked-up to real-time data. I'm licking my chops as I watch
the S&P make its $1,000 to $2,500 daily moves. I won't start trading with
these intraday-day charts until I get a little more data to work with. I really
believe I have valid or good bet signals, but what concerns me most is will I
be able to consistently trade my signals? I knew about this very fundamental
and serious psychological problem long before S.A.T. mentioned it in his last
article. However, it's always good to have a successful trader agree with you.
I rank this reinforcement of valid truths about the market as badly needed
psychological help for the up-and-coming trader. Another valid truth mentioned by S.A.T. is, "You learn trading by
trading." Real trading in real markets with real money. I couldn't agree
more, and yet I'm sure lots can be learned through thousands of hours of
studying historical charts. As mentioned by S.A.T. and re-stated here: "Don't be too concerned with
data service, type of data (perpetual vs. continuous vs. regular data), quote
machines, charting services, advisory services, technical analysis methods,
etc. This is all garbage and will not make you any money. Discipline, a well
defined but simple trading plan based on sound trading principles, good money
management methods, and the psychology of trading will make you plenty of
money. That's only providing you can shed all the heavy baggage of the believed
to be valuable trading tools and concentrate on these aspects of trading. This
will really make you lots of money! Observations on Recent Issues of Commodity Traders Club News - Member
William Shelton (following June issue) - Dave, your publication is getting to
be very interesting and would like to praise you for the extra work you are
doing for your readers, e.g., trying to get more information from S.A.T., etc.
Comments on Past Commodity Trading Club News Issues - George Bashar (July
issue) - My question is, why would a trader who has a proven, successful system
sell it to anyone else? Futures trading, as we all know, is a zero-sum game.
For every $1,000 one person "wins," someone else has to
"lose" $1,000. Therefore, could someone selling a book, system or
running a seminar, please explain why, if your system is so good, would you not
keep it to yourself? And please spare me the explanation of altruism or
humanitarianism or sharing your thoughts with others to enhance the mutual
learning process. (The two article reprints below give answers to this
question) Editor's Note: Commodity traders are frequently highly suspicious
as to why vendors sell their knowledge or their trading system, rather than use
it themselves as their main source of income. The truth is, it's usually much
more lucrative and easier selling knowledge and teaching others, compared to
doing it yourself. For example, I recently listened to a speech by Robert Allen, the well-known
author of the popular book on how to buy real estate with no down payment
titled "Nothing Down." Even though he is an expert on the subject and
has successfully invested in 125 properties, he admits he makes much more money
as a vendor of the "nothing down" knowledge versus doing it himself.
He also says it is easier, less time consuming, less risky, and has far greater
profit potential being a vendor of information on how to do it, rather than
actually doing it. If you can market and sell your own product, regardless of what it is, you
can make much more money teaching others how to do it versus just doing it
yourself. This is true in many diverse types of businesses, including trading
and investing. If you think about it, it makes sense why this is true. .
.because knowledge is power. Remember the old Bible Proverb "Knowledge is of more value than gold,
receive my instructions and not silver, and knowledge rather than gold."
In fact, due to the tremendous profit potential trading commodities
successfully, commodity futures knowledge is probably more valuable than any
other endeavor. This is why there's nothing at all wrong or suspicious about
someone being a vendor rather than trading full-time for a living. For the Most Part Vendor Prices are Fair & An Incredible Bargain!
(Re-printed from May issue of CTCN) by new member Bob Aughey - There's always
lots of discussion on the subject of vendor prices, particularly trading
systems and software. While it's certainly true there's some overpriced garbage
out there, I think for the most part, pricing is fair and often an incredible
bargain. I have heard the argument that most trading system software programs are
less complex to develop and program than the average word processing program,
so therefore, it should cost the same or less. I think that there is an
important difference, not the least of which is that software designed by large
corporations for mass distribution is just that, mass distributed. Volume sales
will always allow for smaller gross profit per unit. What I feel is the more
important issue to support higher prices for trading software is the disclosing
of valuable secrets. . .trade secrets. Why people sell their secrets is another subject for discussion, but
personally, I think that plain old pride of authorship is the main reason. But
back to the subject here. An incredible amount of work goes into creating a quality trading system
that can be marketed to the trading public. That is the trading public, not the
general public. After hundreds or even thousands of hours of development and
testing, is it realistic to think someone should be able to buy the product for
next to nothing? Trading system vendors sell their products to a very tiny slice of the
software end- user pie. You have to wonder why anyone would devote so much
time, money and expertise to market a product to such a small audience. We are
fortunate that some do. The next time you power up your PC and call up your favorite trading system,
analysis or toolbox program, and at the end of the session you are armed with
trading signals in which you have confidence and that have resulted in making
you money in the toughest financial arena in the world, take a moment to
reflect on the fact that system vendors have to make a living, just like
traders and everybody else. Lastly, when you consider the purchase of any software product, do us all a
favor: Do your homework! Ask the tough questions. When you are satisfied, pay
the money. You will remember the quality of the product and the support long after you
have forgotten the price. Remember that knowledgeable consumers are always the
best defense against Holy Grail merchants. They also make the best customers.
Editor's Note: After hearing about Bob's article (which appeared in
another publication), I contacted him about it. I found what he had to say very
valuable and true...and something rarely publicly stated before. Bob authorized
running it in CTCN. About Market Structure & Simple Consistent Trading & Five Vertical
Bars - B. E. Kramer (Aug/Sept issue) - I joined Commodity Traders Club News
last month. After reading the present issue and then all the back-issues, I
felt I had to send in my two-cents. First congratulations to Dave Green. I think you have a great publication. A
forum that allows views to be expressed like this aren't found very often. I
was very impressed with some of the contributions that have been written thru
the years. In particular, I enjoyed what S.A.T. had to say. It's very
interesting. Miscellaneous Ramblings from a Neophyte Named Zas - Ron Zasadny (Oct/Nov
issue) - First, I want to thank and encourage S.A.T. for sharing his very
encouraging thoughts on his trading concepts. Unless a person is ego driven
(are there any ego- driven successful traders out there?) it takes a fair
amount of effort to make the time to sit and put your thoughts in writing. It
took me 3-months of procrastinating to write this. S.A.T. mentioned, and other
successful traders have alluded to it, that as a trader matures and becomes
more profitable he uses fewer and fewer indicators. In my searching for the
"Holy Grail of Trading" there seems to be a perverse ratio of
"wannabe" indicator crazed "techno" geek traders to
actively trading Real Traders, at the various seminars I have attended. Could it be??? na . . . but then again maybe . . . The Holy Grail might be
found in the kingdom of K.I.S.S. (Keep it simple sweetie) I think I am on to
something. Dave, I just received the latest issue (October issue). Really glad you are
going to offer the methodology. My problem: I shall be out of the USA for much
of next February, and would really hate to miss out on it. Dan Salyer from
Kentucky. Editor's Note: February issue: Don't worry, we only have
limited sets but you may reserve your copy NOW. It normally takes a couple
weeks to fill orders, so you will get it after you return home. Love Being a Full-Time Trader From Home - Paul Ryan (Oct/Nov Commodity
Traders Club News) - It is great to have a forum like yours, especially for one
who is striving to be a successful trader, whose life and well-being are really
on the line trading everyday. I can't share any great easy secrets, but I'd
like to share some thoughts and perhaps a path with the potential to introduce
you through your desire and hard work to someone who can help you. I took the
plunge to working alone. No employees, no customers, very little contact during
the working day with anyone. I love it as I'm sure you do. The decisions we
make are totally our own whether we win or lose, we learn and hopefully grow.
"S.A.T." . . . man, you just keep on keeping on. More power to
you. My approach to trading is very different from yours, but I still get a lot
from your articles. Keep them coming! You wrote a small paragraph in your last
article which is pure gold. It starts with: "The biggest challenge to your
success." So very painfully TRUE! Dale Johnson had a nice article in the
last issue. I have to disagree with him when he says a person trading daily bar
charts will make as much as the intra-day trader over a year's time. I haven't
proven it, but I see much more potential profits from daytrading. Special Announcement made in Commodity Traders Club News Dec/Jan issue:
"Please watch your mail for a special offer from CTCN for the S&P
daytrading methodology. You will be able to spend time watching (Dave Green)
trade the markets both real-time and hypothetically, using CTC's own Revealed
Secrets (Real Success) methods, from the comfort of your home and you may be
able to trade successfully by studying the tapes and manual." Joe Ross - My trading methodology, if I have one, is to have learned how to
read a chart and to know which tool to use and when to use it. Almost
everything I do works, because I've learned how to trade. I think S.A.T. has
been explaining that concept to your readers. Benefits from S.A.T. and Psychology Evaluation & Advice - The Enemy is
Within - Robert Edwards - As a personal note, I want to thank S.A.T. for having
the guts to publish an article nearly a year ago in which he pointed out my
negative psychological perspective. I decided to be evaluated and was
determined to be manic depressive. Through counseling, an anti-depressant
(Zoloft) and a good support system that has been set up, I have made tremendous
psychological improvements and my trading has benefited as a result. With help
and counsel found in Commodity Trading Club News, I can and will trade
successfully. Member David Fent - Thanks for creating this forum. Eight to 10-years ago I
washed out on my first effort at trading commodities and haven't traded since.
As a recent subscriber to CTCN, I have been greatly encouraged to the extent
that I'm certain I will be successful when I resume trading in the future. Thanks for the tips and advice from successful traders kind enough to share
them with the rest of us. Thus to see that S.A.T. is making a living using
essentially the same market entry signals that I failed with, shows me that my
trading tools will work if I can get out of the way and let them. Though I have not yet resumed trading, my entire experiences of what it
feels like to be alive, has been profoundly uplifted by the certainty that with
the help of the counsel offered here, I can and will trade successfully. Michael Mansfield - I now got the feeling that you will be (or probably are
now) the most credible traders' forum in the futures industry, (perhaps you
should have an on-line version on the Internet). CTCN needs more articles like
those from S.A.T. in . In that regard, I hope to help facilitate your success
by providing your readers with some tasty items to entice their imaginations
with visions of $$$$. I am happy to say you have a real winner in your stable
of futures trading tools. It just goes to show you (us), if you have a dream,
go for it. Dr. Robert Fojo - October issue of Commodity Traders Club News: I just
recently began my membership in Commodity Trading Club. I thoroughly enjoy it
and have extracted many useful ideas for my own trading. I am very interested
in day trading the S&P 500 and have read with great enthusiasm and
encouragement the articles by S.A.T. . He states in his articles he uses
Keltner Bands as channels, but I have been unable to find any such indicators
in any software package. I wonder if it might be possible to find out how he
constructs the Keltner Bands or what software he uses to chart them. I would
appreciate your assistance in this matter. Editor's Web Site Update: CTC's own tradestation compatible
software program draws all Keltner Channel Bands, including Upper, Lower and
Mid-Keltner Bands. It's available separately for $297 direct from CTCN. Note:
It may also be used by itself or in conjunction with other trading methods and
is not dependent on using the Real Success method. Keep up the excellent work with Commodity Traders Club News and I soon hope
to share my trading experiences with you and the rest of your subscribers.
Editor's Note: The exact Keltner Formula will be given to you in our
new trading manual. Also, Keltner Bands will be running on your screen when you
get our Real Success/TS software. Keltner Bands are included as a free extra
benefit with our optional TradeStation compatible futures trading software
program. Richard M. (last name withheld by request) - CTCN December issue: Just a
short note here to tell you I'm really enjoying your newsletter. Best
investment I ever made! Also, keep me on the Real Success method mailing
list. Joe Curtin - January issue of Commodity Traders Club News: I am a new
subscriber who looks forward to each copy of this newsletter. For a novice,
it's the best investment I have made. After each issue, I feel empowered
and focused. I currently follow the markets through daily quotes provided by
Technical Tools. It is a good service for my current needs. I enjoy the stories
regarding fill quality of firms. Being a small trader, fill quality is very
important. More recommendations, please. I look forward to writing articles in
the future and paying back the members for the wisdom I have taken from them.
Editor's Note: No doubt Joe is referring to the S.A.T. articles,
which has supplied more in-depth wisdom and knowledge than anyone else . . with
CTC's own hands-on videos and trading manual you will learn even more . . . so
much you should also be able to trade for a living . . . from home, if desired,
and be financially independent the rest of your life. John Holsinger - wrote in January to Commodity Futures Trading Club News: I
have enjoyed reading the "S.A.T." series of articles in CTCN. I make
it a point to reread them frequently. Your methodology makes a great deal of
sense to me. I am writing you to inquire as to when you will be releasing your tapes and
reference materials. I read in the January issue of CTCN that ordering
information would be available soon. Are the Real Success Videos Available? Harold Neer - I have followed
S.A.T.'s letters with considerable interest since daytrading the stock indexes
has come to be my main interest (forsaking position trading, bellies, bonds,
cattle, grains, O.J., coffee, etc.) Now using the NYFE, maybe S&P later. I
probably won't be able to attend a seminar, but would be interested in
purchasing videos, notes, books, etc., which might be available, if the price
wasn't too high. Editor's Note: Many other members have also asked
about obtaining video tapes or manuals of CTC's Real Success's successful
futures trading methods. Therefore, since our planned seminar has been canceled
(as we are no longer partners and due to legal reasons), we are going to offer
our own video tapes and futures trading manual detailing our Real Success (Real
Success - Revealed Secrets) methodology. Included with the offer will be some
free extras which will enhance its value to you, including availability of
supplemental software. I was not very successful until I developed my own methods of trading - by
Bob Perry - I've been reading Commodity Traders Club News for about a year now
and have run across many good ideas. It's been very refreshing to read the
articles written by S.A.T. He clearly dispels the notion that you cannot make a
living from trading. I like his mental approach to trading and have found that
most of the problems a trader has is of the mental variety. Reading CTCN has
definitely paid off for me. I continue to look forward to each issue for all
the great ideas that people have discovered and share with their fellow
traders. Sam Jackson writes - I would be interested in attending a Real Success
seminar. Why not hold it in a central location, like Chicago? Editor's
Note: The planned seminar, which was in fact planned for Chicago, has now
been canceled. However, this turns out to be a great cost-saving benefit for
you. By not offering an expensive and not really necessary seminar we can save
you vast sums of money. You may learn this amazingly successful low risk method
with CTCN's own videos and manual at a sharply lower price than if the seminar,
etc. were included. Thus saving you tons of money (69% lower price) but still
giving all you need to trade this commodity futures trading method profitably,
and with very low risk. Dan Fretter - I received an ad in the mail for Commodity Traders Club News
and as I read through some topics, I became interested in Real Success I
immediately sent for a 1-yr. subscription and all back-issues. I called Dave
and asked if he would rush the package. (Thanks a million Dave.) When I
received the back-issues, I devoured articles by S.A.T. and found that I knew
all this stuff, but I was usually counter-trend rather than with the trend. The
next day I took a trade in the S&P. My first trade was an $825 profit. This
stuff works. Now most of my trades are profitable. I almost went back to my old
job, but now I can stay home trading. "I Got My Wonderful Trading System, So How Come I Can't Make Money
Trading It?" As the Editor of Commodity Trading Club News, I Hear that all
the time. It's because most of the trading systems out there are curve-fitted,
either the system's algorithm or curve-fitted to certain market(s), sometimes
just by luck they happen to work in a specific market. This is not the case
with Real Success ("Real Success...Revealed Secrets") methods, which
has been time-tested, and can "work" consistently and with no
optimization involved. "If you weren't born rich, didn't marry money,
haven't won the lottery...here's how you may be able to make it on your own . .
." Important Editor's Note: The "S.A.T. Real Success - Revealed
Secrets" articles follow. The ideas and methods discussed, along with and
combined with many of our own methods and techniques, are the basis of CTCN's
Real Success Methodology. This series of copyrighted articles are highly
acclaimed contributions published in Commodity Traders Club News and are priced
at $500 (but worth even more), including both our charts and
"S.A.T.'s" personal annotated charts, which were given to CTCN at the
time these articles were submitted. These great contributions (but not the
charts) are reprinted here in this Real Success Commodity Futures Info-Guide as
a Free Gift to all web trading and web browsing friends and future clients of
Commodity Traders Club News - Webtrading Co. We receive more requests for articles and advice on day trading than on any
other topic. Beginning traders are especially interested, particularly those
that have been attracted by the glamour and intensity of the pit traders who
seem to be constantly jumping in and out of the markets and reaping enormous
profits. It seems like almost all traders have tried daytrading at one time or
another. After all, it is very tempting to try and slug it out with pit
traders. Every tick is exciting. Every rumor or news item that affects the
market either creates euphoria or is another nail in the coffin. When you have
a position on, you can't stand the pressure, but if you're not in the market
you tear your hair out every time prices act the way you predicted. Your heart pumps fast, your adrenaline surges, and you feel like you've
finally arrived in the wild and woolly world of fast-paced futures trading. All
of this sounds like fun, but as you might imagine, there are many pitfalls
along the way. The Preceding Article Got "S.A.T." Started Writing for CTCN.
The December Issue Contained Article One, Which Was Unsolicited When It Arrived
in Our Mail Unexpectedly I am writing in response to the article "A Hard Look at Day
Trading" (November CTCN). I'm a professional trader for seven plus years
and a day trader to be exact. I get so disgusted with the experts on trading
methods, systems, etc. If I had listened to all these opinions about how
difficult day trading is and how it is almost impossible to make money, I
probably would have believed it and quit many years ago. I make excellent money day trading most every day. I find it exciting,
enjoyable, challenging and very profitable. There are many advantages to day
trading: No overnight exposure on a regular basis - occasionally I'll hold a
profitable day trade overnight to get an extra pop at the beginning of the next
day's session, where as a position trader will hold losers overnight regularly.
My risk is very small per trade. I can multiply my money many times over during a day or week than the
position trader. One thing I must say though, is that day trading (like the article said)
must be done in a liquid and volatile market. Which in my mind only makes day
trading feasible in the S&P 500 and possibly the currencies. I only trade
the S&P 500. There is more than enough money to be made in this market every day than a
human can want. Why look at anything else? You get a tremendous bang for your
dollar and risk reward. Face it, S&P 500's daily ranges average regularly $1,500 - $2,500+ per
day. The average five minute bars (which I trade) have a range of $200 - $300.
That's almost as much as most markets' daily bars. If a trader is disciplined, trades with the trend, uses stops and lets
profits run, he can make excellent money day trading the S&P. I only risk
$250 per trade and regularly take profits of $500 - $750 - $1,000 per trade,
sometimes larger. But in general, I'm not greedy and when I have a good profit,
I look to take it. I love it, and I get to do this 2-5 times a day. Sure, I
have losses, but they are few and small. As far as all this mathematical babble and analysis on more transaction
costs and slippage - who cares? A trade is, a trade, is a trade! If a trader
makes 10 trades a year and I make 10 trades a week, there is no difference in
slippage or costs. All that counts is if you made money. If that guy made $2,500 off his 10 trades per year and I made $2,500 or lets
say $1,000 - $1,500 off my 10 trades a week. I'll take my 10 trades a week,
because I'll multiply my money many times over during the year. Cost per trades
are all the same. If you're a profitable trader, it pays for you to trade more,
not less. I'm not knocking long-term trading. Good traders make money at both
long- term and short-term. You must trade what psychologically fits your style.
The very short-term works for me. It is very profitable, enjoyable and cost
efficient. Also, I pay $16 round turn, just to let you know I'm not much different cost
wise than anyone else. People say they don't know many day traders who make money consistently.
Well let me tell you, it has nothing to do with day trading. I hardly know
anyone who makes money trading. Long, intermediate or short-term, most people I
know are too messed up in their heads to trade profitably. I believe there is just as much, if not much more money in day trading than
anything else. If the trader has learned his craft well and developed a
successful and simple methodology and (most traders never get this far) get
their psychological or mental attitude changed to the right mode for successful
trading - this is the true key to winning. Let me preface all this by saying, I believe the S&P 500 is probably the
only market worth day trading on a daily basis. Bonds don't have enough range
and with currencies (most of which make the majority of their moves overnight).
Now and then you'll get a $1,200+ intraday day in the currencies, which is a
very dead day in the S&P's. So intermediate to long-term trading would be
better in most all other markets. In closing, daytrading can be extremely
profitable, and long-term. You just have to learn how to trade. As I write this on December 2nd., I made $1,800 per contract on three trades
in the S&P for about 5 hours work. How many long-term traders made that
much in one day on a one-lot . . . very few on very few days, I'd venture to
say. I do this at least once a week in the S&P. As far as burnout, I don't have that problem. I look forward to getting up
and being at my monitor throughout the day. I love trading. However, one must
be balanced. I take breaks and days off to relax and vacation. I'd rather be at my monitor every day in the comfort of my home from 8:30 am
to 2:30 p.m., with my family, doing something I enjoy, rather then going to an
office and putting up with that nonsense. What's so hard about day trading and watching the monitor - beats working. I
think day trading provide s a great life-style. In trading, I would recommend trading with the trend. I know it sounds
cliche, but I have found it is the most rewarding (I found this out - like
everything else - the hard way). Selling tops and buying bottoms is like being a salmon. You are always
swimming upstream against the trend. You may get a good trade now and then, but
a market will wear you out in the process. I have always found these trades
looked great going back on a chart. In trading real-time from the hard right
side of the chart without the benefit of hindsight make these trades difficult
to not only see, but see through to the profitable end. So trade the trend. Enter on pullbacks, use reversal bars that make pivot
lows/highs and close back in the direction of trend. Move stops quickly. Take
reasonable profits from the markets trading that day. If market is slow and in
a trading range mode, go for less. How do you know what to go for? Your
experience will tell you. There are no hard and fast rules, sometimes I get out
way too soon. Sometimes I stay in too long, but in general I do OK and get my share. I hate to say it, but good trading is not 100% mechanical. I wish sometimes
it was, but that's what your there for. I find that good trading will be 80%
mechanical or/so and 20% will give you the flexibility. To use your experience
and feel for the market to enhance your method and make it comfortable. I'm not saying you can't be 100% mechanical. I believe your most profitable
trading will be a system that allows you some input on entries and exits. I use
a 3 and 5-minute chart, side by side and take the first signal. I get in the
direction I want to trade. Sometimes a 3 will get me in and a 5 won't give me
the reversal bar, and vice versa. This way I don't have many moves pass me by.
One of these usually will get me in. I have been told that many people have called Dave Green wanting to share my
system. So I will, but I told Dave it's ridiculous. I know these people are
thinking, If I can find out what and how this guy is trading, I'll use it and I
will start making money. I'll be rich. All I need is a good system. It sounds
like this guy has something really hot! If he will just divulge it. Well, if
you really look at what I'm doing, it's waiting for a trend to begin and
getting in on pullbacks that usually come into a 38 - 50 - 62% Retracements of
the last swing and reverse out of there back in the trend direction. Very
simple. This was probably being done before 1900 - you can do this. So why are most
people losing money daily - read on. Editor's Note: Some of S.A.T.'s methodology is depicted on his
chart which appears in the print version of this article: (By the way, this simple method is the best way I've ever seen to trade. I
just put my own little wrinkle in it with common sense money-management). I'm
not doing anything new or secret. My method is very simple and easy to trade. I hope this gives readers some
ideas. However, I want to make some caveats and warnings for all the wanna-be-
traders who want to trade for a living and/or think they can. I'm no market wizard. I still trade mostly one and two-lots and I don't live
in a $500,000 home or drive a Rolls Royce. My trading has become very
consistent and profitable and continues to get a little better every month. My
method is my tool. It's an excellent tool and works extremely well when I use
it the way it should be used. If more money is lost than normal, if stupid or
random trades are taken, it's not my system or my method that has failed, it's
me, myself, and I, (Yes, I take stupid trades now and then) I'm human. I try to
keep them at a minimum and allow for them. My first 8-years of trading results
would probably make you throw-up. Lord knows my wife did! The point I'm trying to make is that learning how to trade profitably is
very difficult. Once learned, it becomes simple and fun, like I mentioned in
December CTCN article. I feel sorry for the people who write to these newsletters or forums. Most
of you are missing the boat (just like I did my first 8-years). I see you
squabbling over data vendors, system vendors, methods, hotlines, new and old
systems. People who made false statements about their product. You are too concerned with continuous data or the other kind of data (I
forgot what it's called). Optimization, back-testing, percentage of wins,
maximum drawdowns, broker problems, new software programs, books, articles,
seminars. (Oh, I just remembered the other data is called perpetual, I think)
etc., etc. This stuff is all secondary in nature to success. All this is crap. It will
not make you money and is a complete waste of time. Believe me, I know. People need to work on what's inside them. Your psychological makeup, how
you interact with the market and how you deal with fear, greed, anxiety, etc.
It's you against you every day. Not you against the market. Not you against
another trader. The market is going to do what it's going to do every day. Whether you're in
or not. The only thing that determines if you make money or not, is how you
react to market action. Only you can give yourself money or lose money trading.
Not the market, not the system, not the data, not the software package you use,
not the hotline, book or seminar you purchased. Just you! Do you would-be or aspiring traders finally get it? Most of you are looking
in all the wrong places as the song goes. A perfect example, is in last month's
CTCN article, page 2 by Robert Edwards. He wants to improve his trading and I'm
sure he is trying very hard. But as I read his article, Robert has missed the
boat and will never truly succeed until he works on his psychological flaws.
For example, he continues to let fear and greed ruin his trading. He's afraid
to let a profit run, for fear of giving back a small profit (greed). These are serious problems and deep rotted in his psyche. However, he's not
seriously dealing with it. How do I know? Robert made the statement "I may
lose next year. If I do, it must be, it will be, because a better team beat me.
It will not be because I beat myself." Now Robert, what kind of stupid
statement is that. It shows you take no responsibility for your losing, some other team or guys
beat you! Robert, if you lose next year, it will be because you traded poorly.
You didn't react well to market action. Nobody or no market is out to get you.
They don't even know or care that you exist. Your assumptions are not quite right on what it will take to turn your
trading around. You say you must change your patterns - get some guts - you
believe as you stated "If you trade you will error" and "Trading
is like throwing a knife in the air and catching it in one's hand and getting
bloodied pretty good." That's a real positive view of trading, isn't it!
It is no wonder your having trouble. You truly view trading as a very
negative thing. You really do! You must work on changing your views into a
positive attitude. Can you be honest to yourself to do it? You must, if you are
to succeed. I trade 2-5 times a day. If I felt as you do, I'd probably blow my brains
out in a week. I look forward to each new trade. I can't wait for the next
signal. I'm confident enough to know I'll make money 6 to 7 out of 10 times.
That's the attitude to have - positive with confidence. I don't mean to pick on you, but your case is typical (I was there once). I
hope you will take this in a constructive way. It will change you. It will take
sometime, but you can do it. I'm writing this letter for therapy to keep my concept in the front of my
mind, as well as helping others. I speak from real feelings and experience.
I started writing a short letter, which has turned into a lengthy
dissertation. I hope I have awaken some of you. It makes me sick to look back at my horrendous years. I went to all the
seminars, bought systems, books, tapes, software. None of them made me money,
because I had some real psychological issues to resolve that only manifested
themselves in trading. If you have any personality flaws, trading will bring
them out. Do you really want to trade for a living and enjoy the kind of life-style it
affords? One of freedom and money. Then you better be prepared to deal with
your dark side and confront your psychological weaknesses and be honest with
yourself (painfully so) be willing to change. It's not easy, but can be done. I
have come far enough to turn my trading around - but I work on it every day.
Do you have problems with placing stops and taking a loss? Do you get mad at
the broker or the market when you lose? The market doesn't do what you thought
it would do. Do you get mad at that stupid system you bought? The system went
into its largest drawdown the day you started trading it. The list of questions goes on and on and yes I've done all this and more.
Resolve to turn your quest for trading excellence and profits inward -
yourself. Learn to expose all your weaknesses and then work on them. Be very
honest with yourself and humble. Get rid of your ego. You want to be right on a
trade attitude. Risk 2% or less of your equity on any one trade. Do this and you'll make money with any system. You will be in control, not
the markets or the Holy Grail Gizmo's associated with it. I wish everyone the best and hope you don't have to go through what I did to
succeed. Cheer up, because it can be done and it's worth the price when you have
success. P.S. - I've said my piece - got it off my back and hopefully helped
some. I'm not one for much interaction and have made myself somewhat of a
hermit with trading (It helps to not talk with traders) to be successful. Too
much B. S. gets in the way. So I will leave you all to ponder my thoughts. I don't care if people don't
believe I'm right, because I know I am. I speak with experience, conviction and
compassion for those on this journey. I will not be writing again and will now
disappear into trading obscurity to enjoy trading for a living! This is in response to the letters written concerning requests for personal
instruction and education on day-trading. I'm sorry to say I cannot fulfill
these requests. I am very busy trading during the day and cannot be interrupted
while trading and spending time with my family in the evening. Plus I do not
have the temperament to be an educator. I'm also not a system vendor, guru or
newsletter writer. If it makes anyone feel better, I have tried to teach two good friends to do
exactly what I do and they have learned well. They can recognize all my trades
every day. However, they still lose money. Why? They don't take the signals. They watch 5 or 6 winners in a row go by, then
take a loser and quit again; or they get in a winner and as soon as they see a
little profit, they get out; or sometimes will not use a stop and a small loss
turns out to be a big loss. Yet they have the same information available as I
do. Why can I make $1,200 today and my friends lose $350 trading the same
methodology? It's in their psychological makeup. They need to work on it. They
will eventually pick it up, if they stay with it long enough. I cannot get
inside their heads and that is frustrating for a teacher. You have to learn
this by constant experience. I can tell you what I did that helped me
psychologically. I recommend certain books (as detailed and identified in our
Trading Manual). As mentioned in my last letter, I would not be writing any more (never say
never I guess). Dave asked me to contribute again, since he has gotten many
requests concerning my trading, methods used and observations, and how I could
be reached. First off, let me begin by letting readers know, especially those
who have written me via CTCN, I cannot respond to individuals personally. I am
too busy either trading or spending time with my family. I just don't have the
time or energy to deal with people after trading every day. When the day's
done, I walk away from the monitor and relax with my family. If I did respond, I would have to charge $3,000 to $5,000, and I would feel
guilty. I have lots of losses from previous learning, educational and getting
your guts kicked in years to make up. You see, I was just like everyone else,
until the last couple of years. The only difference, I was able to find a simple methodology and the key to
make it work - inner psychological control of my dysfunctional behavior. (Read
Mark Douglas' book, I mentioned specific chapters in my last article - very
important). I feel that after all I've written that many people missed the boat about
what I was trying to say. Dave tells me many CTCN readers wish to know how I
trade, where to enter, exit, place stops, how to know whether to go long or
short, etc. As I mentioned before, I have shown two friends how I trade. They know it so
well, that they call me up and tell me what they thought I did for the day and
they're just about right. However, one cannot pull the trigger and he loses on
the one or two trades he takes every week. I trade 3-6 times/day. The other
friend is an older man who makes great money when he trades, but hates the fast
pace and sitting at the monitor all day, so he doesn't trade much. He is fairly
well off and doesn't need the money. My point is, it's not the method, it's how you handle your emotions when
trading. Knowing yourself and your likes, dislikes, strengths and weaknesses
will help you develop a way of trading you'll enjoy. Trust, execute flawlessly
as possible and then enable you to pay yourself as much money as you're able to
handle in the market, and this in time will grow also. Again, my method is very structured and mechanical. It is not 100%
mechanical. Sometimes I pass up trades because my experience and gut feelings about the
markets' behavior makes me cautious. Sometimes I'll wait 5 or 10-minutes before
acting on a signal. Sometimes I enter immediately without hesitation. Sometimes
I get out before my method tells me to. Sometimes I bring my stop to break-even
quicker than I normally do. The point is, every day is different. Even though I basically trade exactly
the same way each day, the manner in which I execute the trades is a function
of my experience, confidence and psychological training. This is the art of
trading, and makes the difference between losing and winning. Neither I nor anyone can teach this. This is acquired by oneself through
experience, practice, pain, suffering and heartache. We learn the most from our
failures, this is so true. This is why I will not work (directly) with anyone,
because I can't teach this. This is my problem with so many educators. Trading
looks easy on back charts. I will try to give some tidbits of advice on where to start looking or what
I feel is the best and most simple way of trading. I have included charts at
the end of this article. One thing I use on occasion throughout the trading week is the Ross Hook (if
unfamiliar, buy the book). The Vanilla Hook is all you need. Trade in strong
trends in the beginning of moves or breakouts, risk little, take medium size
profits. You can make a living just doing this. See 5-minute chart of examples
of a hook. Also I use pullbacks of between 35-62% retracements in a trend swing that
gives a reversal bar back in the direction of a trend and that makes a pivot
(low, high). I use this the most and it works great. However, it is the art of
trading that will make all this very profitable when you master yourself and
reading market behavior. Personally, I would take one market and master it. Don't trade twenty
markets like a banana-head. I like the S&P 500 and I take a couple trades a
week in the Swiss Franc. All on 5-minute charts (same method, same everything).
My average trade lasts 30-60 minutes, sometimes more, sometimes less. I take
my profits quickly and try not to get married to trades. Learn to be imperfect at times and plan for this. This might make some of
you feel better. I usually never risk more than $300 on an S&P trade. Editor's Note: S.A.T. included charts here which we have not
reprinted. However, these charts and others will be in CTCN's trading manual.
Well I did two (not one) really stupid trades last week. My ego got involved
and I knew or thought I was right on a couple of trades. The first one, I sat
thru a $750 drawdown to make $300 which sounds great, but it set me up on the
next trade. I did the same thing and lost $1,500 in 30-minutes on the S&P.
I reversed my position and started going with the trend. Put my stops back in
and ended up making $1,100 for the day. Had I not made these mistakes, I would
have made $3,000 plus for the day. On a 1-lot (that's what I trade mostly) I'm
fixing to increase to 2-3 lots shortly. So you see, I still make mistakes and
continue learning each day. I've included charts to show examples and give ideas to develop your own
methods and personalize them. Sorry - there's no canned 100% system that will
make you a great trader! The Keltner Channel is something I use as a visual aid in market direction
and strength. I don't know much about it. It helps me visually, so I use it. A
friend told me about it. I looked at it and liked it. Enclosed is my
TradeStation formula. You can figure it out, if you wish. Again it's a tool,
not a Holy Grail. I personally recommend only intraday trading. I hate trading daily charts
and overnight trades. Benefits of intraday trading are as follows: Again, trade with trend, enter on retracements, use small stops and take
profits as best as you can. Better off taking a profit too quick than staying
in a trade too long. You'll learn the right feel for this as real-time (not
paper) trading experience grows. You will only begin to learn about trading and yourself with real-time, real
(actual) trades. You must trade to learn. Set aside some money you expect to
lose as tuition. You'll probably graduate with honors and do it quicker. Don't
get hung-up on paper trading. I hope this information helps. I wish I could do more. Unfortunately, this
is a journey we all have to make alone. For those who succeed, the rewards are
truly satisfying. P.S. I enter two ticks above or below the signal bar. Risk
$200-300 maximum in S&P 500. Swiss Franc (currencies) 7-10 tics maximum
risk. These are only guidelines, you must adapt for yourself. On Keltner Channels - The stronger the angle or slope, the stronger the
trend. In a trend, I like for prices to retrace back around the mid-Keltner
before I look to enter - on a signal back in the direction of the trend.
However, in really strong steeply trending markets, I will not wait for price
to hit mid-Keltner Channel, because it will never get there. You'll see this
thru experience. I understand many traders continue to have questions on my
"methodology" of trading. One big question that keeps coming up is
why can't your trading be 100% mechanical? I have already answered this
question in April's issue, but I'll try to expand a bit more in this issue.
(Order the April issue from CTCN, if you don't already have it) . . . (also see
Gary Smith's article February CTCN). Trading is not a science, it's a discipline. Just like any discipline, i.e.,
(martial arts, sports, art) there is a certain amount of basic fundamental or
mechanical expertise that needs to be achieved. However, to be successful or
above the masses, there has to be more than just basics. A person needs to
become totally committed to being the best. One must be automatic in action.
One must develop a so-called sixth sense or intuitiveness (I call it lots of
experience) for their discipline. Take a sport like basketball. Most guys can
dribble, pass and shoot basketballs. So why aren't they all pros. Why aren't all pros like Michael Jordan? It is
the application and the experience of dealing with the basics that sets one
apart from the crowd. If you want to be a trader, that's exactly what you'll have to do, is work
hard to be good. Being a trader requires your responsibility for your results.
People who want a 100% mechanical system really want an excuse to shift the
responsibility for winning or losing to their system. If it was that easy,
everyone would have a 100% mechanical system and be sitting on the beach
retired. The fact is, you get paid for your expertise as a trader. The better a
trader you are, the more money you make. All successful traders use their
experience and feel for market action - even if they are mostly mechanical.
My entry is mechanical, my stop is mechanical and my stop movement is
mechanical. What is not totally mechanical are my exits. I leave some degree of
experience to do this. Trade selection is up to me. For example, I might have a
buy signal, but the way the market is acting, I might not take it. If it
doesn't feel right or look just right - sometimes I miss a good trade. I don't take every trade that comes down the pike. If I do decide to take
it, I'm mechanical about entering, placing stops, moving stops and exiting to a
degree (this is not 100% mechanical). The market is not mechanical - 100%. However, it is fairly predictable
60-80% of the time. This is what you as a trader gets paid for. How well you
can predict, anticipate and recognize market moves with a methodology that puts
the risk reward odds on your side. Only experience can improve this, and no
mechanical system can sense these things. That's why! Also, some readers asked what a pivot is (how I define it). A pivot is a bar
that has one bar on each side, lower or higher than the middle bar - very
simple. Editor's Note: S.A.T. included charts here which we have not
reprinted here. However, these charts and others will be in CTCN's trading
manual. Readers have asked about my commissions. As I've stated before, I pay $20
per round-turn, all fees included. I use a retail brokerage firm as my clearing
firm and I do not have direct floor access. I use a trading desk and they give
me my fills while I hold most times. It is not necessary to have direct floor
access. I understand some say, it is impossible to trade without direct floor
access. I say it is a hindrance. The guys at my trade desk know me and how I trade. They watch out for me and
handle any problems and even correct me sometimes when I say the wrong thing.
Like buy instead of sell. It happens sometimes when your thinking quick. The
guys on the floor are very rough and intimidating sometimes, so my trade desk
shields me from that. Readers are asking questions about bar spacing, colors of charts, Keltner
formulas, floor brokers, data feeds, etc. Don't waste so much time fretting
over these things? This stuff is all a bunch of secondary crap. It won't make
you any money. People need to concentrate on learning a methodology. Practice
and gain experience, then work on executing properly. These things are
important. I wanted to make a few comments and observations after reading my May CTCN
issue. I enjoyed the article by Don McCullough. This man seems to grasp how much
commitment, dedication and hard work it is to be a successful trader.
Fortunately, it is a labor of true enjoyment for many traders which make it
tolerable, but not easy. He has begun to learn things that I have learned like
stick to one or two markets and specialize (the S&P 500 is the best market
for risk/reward or bang for your buck) without a doubt. He has seen how
different it is to be focused watching 400+ stocks or even 5 or 6 commodities
and try to be totally concentrating on the trades without distraction. He is
correct in his observations about the T-Bond market and currency market. They
are tradable, but the moves intraday are not as rewarding as the S&P. So that's the philosophy I have come to for myself. Find the market that has
the best risk to reward value for your trading and then just trade that and
become good at it. Why trade another market that has less bang for your buck,
it doesn't make sense! Rather than watch 2, 3 or 4 markets, why not just then
trade a 2, 3 or 4 lot in the best value market and concentrate on that. It
makes life much more simple. I think Don and some others are starting to find
this out. For most traders this works better. I'm not knocking the guys who trade daily's, weekly's and hold positions
overnight. Some do well at this. I'm only saying that after doing that myself,
I've come to find it's not for me. I operate better specializing in one market
and holding no overnight positions. I think many traders are finding this out
for themselves also. How would you like waking up in the morning and finding
the currencies $1,000- $3,000+ against you or coffee $5,000- $20,000, cotton,
lumber, O. J., soybeans going limit against you for several days in a row
sometimes? That's a heck of a way to start your day - no thank you sir. Speaking of starting your day, maybe some would like to know how my day's
schedule goes to give you an idea! My office is upstairs in my home and is
fixed up comfortable with my office equipment, plus sofa, TV, reclining chair.
Very much like a studio apartment, since my wife tells me I live in there. To start my trading day: I come upstairs, relax and watch Good Morning
America and CNBC while drinking my coffee. Then at 8:15 a.m. or so I get
situated at my desk. Review the market action yesterday. Look at the Globex
S&P, Bonds, Currencies just to get a feel for what kind of a day it might
be (I can relax and start the day off in a good frame of mind, since I don't
have to worry about horrid gaps against me). I look at my support resistance points displayed on my screen and watch the
opening at 8:30 a.m. CST. Then I usually get off one or two trades by
10:30-11:00 a.m. The markets usually start getting quiet. Then I'll leave to go
walking, catch lunch, run some errands and watch "All My Children."
Then about 1:00 p.m., I'm back in my seat for the afternoon session to have
some fun. Then I'll usually get 1-2 more trades off from 1-2:30 p.m. Then I'm
done. Sometimes if I have a good morning, I'll just quit for the day. This makes trading enjoyable. Most people think daytraders are permanently
glued to the screen seven days a week - 10 hours per day. This is not so. You
see that daytrading affords one plenty of free time without the anxiety of
overnight or over the weekend positions. Be honest, how many of you have had
overnight/weekend positions and find yourself watching the news or national
weather to see how it will affect your T-Bond or Soybean position Monday. On my
God, it rained in the Midwest Saturday and I'm long beans. Now I spend the rest
of the weekend throwing up, waiting for Monday's open to kill me! I laugh now,
because that's happened to me more times then I care to admit. No more, I enjoy
my evenings and weekends. Also S.F. from Europe keeps making little snide remarks about how I would
not like his method, because it's so inferior to my $1,200 day amazing returns.
First, just to get this guy's record straight so he doesn't mislead other
readers, I don't care about his trading or method. If it works for him, that's
great. I don't know why S.F. keeps worrying about whether I would approve of
his % returns or not. Everybody is different, and if he's happy, that should be
all that matters to him. He also keeps alluding to me making $1,200/day every day, where he picked
that up I don't know. I read all my articles and never found that. Editor's Note: S.A.T. included charts here which we have not
reprinted. However, these charts and others will be in our trading manual.
I have days when I do make $1,000- $2,000 or more. I have days when I lose
$300-$700 or more. On the average (with a 1 lot in the S&P) I aim for
$200-$300 per day, day net. This is realistic. That's $1,000-$1,500 per week
plus some weeks even more. That's lots of money - when I get up to a 5 lot or
10 lot someday. That's $5-$10,000+ per week. You can live very well on a
one-lot. How many people you know make $6- $10,000 month working at home. So where
this guy comes up with $1,200/day, I don't know. Readers, if people tell you
that you can make $1,000+/day trading a 1 lot every day in real-time (not paper
trading) run for the hills. In the beginning $100-$200/day is a good goal to
shoot for. Some may be disappointed in this, but I had to lower my expectations
so I could trade properly. On the lighter side, Don talks about the greatest trader, Marty Schwartz,
he's one of my favorites. He, like so many others, failed for so many years (10
losing years in a row for Marty) until he made it. These experiences kept me
going during my tough times. Also, he talks about how exiting a trade is the
hardest thing and he never seems to get good at this. I find I leave lots of
money on the table also, so I feel I'm in good company. @quot;Linda Bradford
Raschke@quot; said she could retire from all the money she leaves on the table,
but prefers to take reasonable profits when they're there. So even the market
wizards aren't perfect. They just make money. I think their stories are very
encouraging to see they make lots of mistakes also. I have a little thing called steps to becoming a trader that I find was real
good. Perhaps other traders will enjoy reading this, and see themselves as I
did. On a positive note - trading is fun (hard work but fun) and yes you can be
successful after time. Maybe not a market wizard, but successful. Keep trying,
keep learning, don't be greedy. Happy trading!
Here's all the Potentially Money-making Details on
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Technical Traders Bulletin Part One