Good Morning
Just want to do a quick recap on Mr bernanke, He once again said he'll lower rates again if he has too. He expected slower growth the first half of 08 and then a steady pick up of growth later in 08 and 09. The dollar steadily weakened this morning as it does most times bernanke talks.
For the most part i agree with Mr Bernanke, Even though i think he's an idiot. Slower growth is always expected the first qaurter. This year its put in the spot light a bit because of the credit and mortgage crisis. I do see a slight pick up in the economy as we get out of the first qaurter of 08.
JP
Thursday, February 14, 2008
Monday, February 11, 2008
Live Trading with Palmers Choice/Blog changes
Good Morning,
Well, as you know im not the best blogger in the world. So i have decided to change up my blog a little bit. I have decided to open up a live trading room. Not sure who i am going to use yet, probably Vyew. Im not sure how im going to use my blog. Probably room updates on trades and key macro economic news. I will also be doing educational blogs.
The trading room will be free for those who open an account through palmers choice. or you can pay 25 dollars a month.
As far as the room goes, I will have my active trading screen up whenever im trading live. We will have education tutorials from not only me but a bunch of buddies i know who trade.
JP
Well, as you know im not the best blogger in the world. So i have decided to change up my blog a little bit. I have decided to open up a live trading room. Not sure who i am going to use yet, probably Vyew. Im not sure how im going to use my blog. Probably room updates on trades and key macro economic news. I will also be doing educational blogs.
The trading room will be free for those who open an account through palmers choice. or you can pay 25 dollars a month.
As far as the room goes, I will have my active trading screen up whenever im trading live. We will have education tutorials from not only me but a bunch of buddies i know who trade.
JP
Friday, February 8, 2008
Daily Fundamentals 2/8/2008
Good Morning
Slow day today on the fundamental side of the market. Compared to yesterday today is really slow. You should have cleaned up on thursday.
I want to talk a little bit about this recession the news says we are having than says we are not having. These news people are changing their mines every day due to daily fluctations in the market. They are not looking at past year stats. YOU CANNOT LOOK AT DAILY ECONOMIC FORECASTS TO DETERMINE A RECESSION. sheesh....Bloomberg.com has an article saying its looking bad because car sales and consumer spending is down. HELLO!!!! its february. Consumers are not going to buy alot of stuff right after christmas....First quarter is usually slow, EVERY YEAR......They (media) keeps saying the economy is at a .5% growth rate. The technical defanition of recession is negative growth or no growth. 0.5 is SLOW GROWTH.
All these journalist that call themselves economists don't know anything because they report the news not actually invest or trade........Makes me sick....They have been reporting bad numbers and interepret it as a recession. Not look at the fact that its right after the holidays.......
JP
Slow day today on the fundamental side of the market. Compared to yesterday today is really slow. You should have cleaned up on thursday.
I want to talk a little bit about this recession the news says we are having than says we are not having. These news people are changing their mines every day due to daily fluctations in the market. They are not looking at past year stats. YOU CANNOT LOOK AT DAILY ECONOMIC FORECASTS TO DETERMINE A RECESSION. sheesh....Bloomberg.com has an article saying its looking bad because car sales and consumer spending is down. HELLO!!!! its february. Consumers are not going to buy alot of stuff right after christmas....First quarter is usually slow, EVERY YEAR......They (media) keeps saying the economy is at a .5% growth rate. The technical defanition of recession is negative growth or no growth. 0.5 is SLOW GROWTH.
All these journalist that call themselves economists don't know anything because they report the news not actually invest or trade........Makes me sick....They have been reporting bad numbers and interepret it as a recession. Not look at the fact that its right after the holidays.......
JP
Wednesday, February 6, 2008
Emotion Trading
Hi
I want to blog here about emotion and trading. I think I might have blogged about emotion before, but this is from a different standpoint.
Emotion is the biggest factor in trading success. What I have noticed from personal and other poeples experiences is, is choosing the right broker to trade. Your probably wondering what im talkin about. Before you even get into a trade you obsess over the spread. Than by the time you get into the trade its over, and you end up chasing it, resulting in a loss.
I've personally done this. Im not going to name the broker. But after about 6 months of losses and asking myself whats going on. I started trading with an ECN broker along side the Market maker broker. What i found was crazy. 80%-90% of my trades were winning trades on my ecn, and 40% of my trades on the market maker was winning trades. I knew the problems i was having wasn't because of me. I always waited for longer candle sticks on the market maker broker. Because i could only afford big moves to make money. That also forced me to risk more during news announcements. It all ties into the broker. the Market maker caused my emotion, which caused me to lose trades
My suggestion to you is, Don't blame yourself if you always lose. Research and find the key root of the problem. You are always going to have bad trades in any market. But you can limit those bad trades by using good brokers and good money managment.
I want to blog here about emotion and trading. I think I might have blogged about emotion before, but this is from a different standpoint.
Emotion is the biggest factor in trading success. What I have noticed from personal and other poeples experiences is, is choosing the right broker to trade. Your probably wondering what im talkin about. Before you even get into a trade you obsess over the spread. Than by the time you get into the trade its over, and you end up chasing it, resulting in a loss.
I've personally done this. Im not going to name the broker. But after about 6 months of losses and asking myself whats going on. I started trading with an ECN broker along side the Market maker broker. What i found was crazy. 80%-90% of my trades were winning trades on my ecn, and 40% of my trades on the market maker was winning trades. I knew the problems i was having wasn't because of me. I always waited for longer candle sticks on the market maker broker. Because i could only afford big moves to make money. That also forced me to risk more during news announcements. It all ties into the broker. the Market maker caused my emotion, which caused me to lose trades
My suggestion to you is, Don't blame yourself if you always lose. Research and find the key root of the problem. You are always going to have bad trades in any market. But you can limit those bad trades by using good brokers and good money managment.
Daily Fundamentals 2/6/2008
Good Morning,
Only two annoucnments this morning, Non farm productivity came out this morning at 1.8%. Didn't really move the market very much. Unit labor costs came out down at 2.8%, but up from the expected .8 which sent stocks up this morning.
JP
Only two annoucnments this morning, Non farm productivity came out this morning at 1.8%. Didn't really move the market very much. Unit labor costs came out down at 2.8%, but up from the expected .8 which sent stocks up this morning.
JP
Tuesday, February 5, 2008
Daily Fundamentals 2/5/2008
Good Afternoon
Only one news anncouncement coming out today. ISM Non-manufacturing came out way lower than expected. Which sent stocks falling today along with all dollar pairs.
Something to keep your eye on is gold. Gold has dropped back down to 885 from the 930 highs. If we get some inflationary news that'll be a great trade.
Sorry about the unconsistency on the blog, im really trying on this, As you can see im not a very good blogger yet haha...
JP
Only one news anncouncement coming out today. ISM Non-manufacturing came out way lower than expected. Which sent stocks falling today along with all dollar pairs.
Something to keep your eye on is gold. Gold has dropped back down to 885 from the 930 highs. If we get some inflationary news that'll be a great trade.
Sorry about the unconsistency on the blog, im really trying on this, As you can see im not a very good blogger yet haha...
JP
Friday, February 1, 2008
Daily Fundamentals 2/1/2008
Good Morning,
Hope everybody had a good morning so far. Unemployment rate fell to 4.9%, but hourly earnings fell 0.2%. The dollar rallied on both numbers. but is steadily falling against the euro. ISM manufacturing index came out today at 50.7% didn't have much effect on the dollar pairs, Which suprised me.
Hope Everybody has a good weekend
JP
Hope everybody had a good morning so far. Unemployment rate fell to 4.9%, but hourly earnings fell 0.2%. The dollar rallied on both numbers. but is steadily falling against the euro. ISM manufacturing index came out today at 50.7% didn't have much effect on the dollar pairs, Which suprised me.
Hope Everybody has a good weekend
JP
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