Thanks to PFG I don't have my country club membership anymore so I am left with our Scorecard of the trading services to sit down and have a beer over. One thing I am going to do once I get back the club membership is my password will be a defamatory comment about Wasendorf. I just find this works best for me. I have one going with my trading accounts now in regard to the CFTC and it does make me feel good every time I log in I have to admit. I am sure the back office guys at the brokerage houses who see those things got a kick out of it when they saw it get established. Everyone deals with things like this differently. I am kind of fiesty as readers know so I like to tell someone to piss off every once in a while when it is appropriate.
October represented the first full month in our Swing Trading Service and the third in our Bond Trading Service. The results are below.
These results are exactly as advertised in my web site. The Swing trades are less accurate but make more money on average. The Bond trades are very accurate and less total dollars. This was a very high month in profit for the Bonds and not typical of what it will generally produce. However, it did happen. Those are the trades the system cranked out that were in the services for both methods. Needless to say with a combined profit of over $10,200 just trading one contract of each, we are pleased with the results.
We did have a problem with the one trade in Hogs which caused a wild opening few minutes in that trade when it was entered. Since there was no report of any type that day I am suspicious that someone shared that trade with a brokerage firm. Please do not do that you will hurt yourself as well as all of the rest of us. If we are able to determine this happened and who did so they will be cut off from all services going forward. It specifically states right in our terms and conditions that you are not allowed to do that. I cannot understand the logic in this. Why would you want to jeopardize something that can make you this type of profit? I can't imagine being able to sell this to someone for the amount of money you can make by just taking the trades. I have never seen the Hog market act like that other than on a report day so something is amiss here.
We are going to have to change how we are doing the trades in the thinner markets due to this. If you are using the one brokerage firm that is famous for terrible fills be careful on these trades. You all seemed to get about 60 to 70 ticks of slippage which is insane. Why anyone would want to put up with that is beyond me. You are also going to get burned on exits. I know of one reader who is so thankful of some orders that have not been filled that should have been by this brokerage firm, because the trades were bad and it saved him some money. This is faulty logic. What if they were stops protecting a trade and they were not filled? In that case you would be exposed to huge losses. I can tell you that is exactly what happened to me at this firm many years ago and why I left and won't ever go back. If they become the only firm left I will move to Mars and trade with the Martians.
One thing we have learned painfully in the last year is that brokerage firms are not to be trusted and you have to stay on top of things like never before. Do not sit idly by and put up with inferior service.
Here we sit on the verge of a very important election, what to do?
NOTHING DIFFERENTLY THAN YOU NORMALLY DO
If your trading approach is to guess based on your opinions than have at it and place your bets. I don't trade on my opinions and never will. Although I may think based on having experience, I can guess better than the next guy, in reality that is not true. When we look at the Naz above it appears to be in a pullback against the downtrend and in a continuation pattern to the short side. We do not have much accumulation going on so it is not an obvious reversal spot. Whether or not there is a coming bias to either side due to the election is anyone's guess. I see nothing that tells me definitively which way the election might drive the markets. I really have no idea and don't really care. I do care a lot about the outcome of the election but not in regards to how I will trade it. I have voted and if the US collectively wants a complete conversion to socialism there is not anything I can do about it. It speaks volumes about how this country has changed that this is even close and it is very sad. I am less of a liberal target since PFG stole so much of my money so I am under the radar for a while.
The money is still not free to use so I am moving on and if and when it is ever available I will begin trading there. I am not doing a thing until I can get my equity account set up there to get the sweep protection going. There is nobody who can convince me money is safe in FCM's so I will only trade where it is swept into insured equity accounts. Those who don't have that option will never get any of my money ever again. We know Baldsler is doing nothing to help us with his new "regulations." I guess the next scandal he will just say again "we blew it" just like he did with PFG and move one without a care in the world for the victims. It would be nice to be able to start a series of exchanges unrelated to the US markets in another country and make these guys irrelevant. Aah what fun it is to dream of such great things!
Once bitten twice shy.
I am hoping for the best in the election but preparing for the worst. Either way lets hope this does not wind up in a court room again.