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Market Outlook
- Thread starter GrandSupercycle
- Start date
Quote from bwolinsky:
Greece has no impact on US other than being a herd news event.
I'm talking about gold. Greece has a big impact on the Euro, and recently Euro and XAU have had a strong correlation. Furthermore, the long term trend of XAU is up. Trading against this is dangerous.
Anyway, I really don't believe in these chart formations. Everybody seems to use them, but all but 5% lose money. So, there has to be a beter answer.
Having said that, my little chart formation seems to be paying off nicely. Up 10 points now from where I called it.
Quote from bhardy307:
I'm talking about gold. Greece has a big impact on the Euro, and recently Euro and XAU have had a strong correlation. Furthermore, the long term trend of XAU is up. Trading against this is dangerous.
Anyway, I really don't believe in these chart formations. Everybody seems to use them, but all but 5% lose money. So, there has to be a beter answer.
Having said that, my little chart formation seems to be paying off nicely. Up 10 points now from where I called it.
I am up $1,660 in the account for the World Cup Trading championships.
They called me a "gold mine."
Quote from bhardy307:
I'm talking about gold. Greece has a big impact on the Euro, and recently Euro and XAU have had a strong correlation. Furthermore, the long term trend of XAU is up. Trading against this is dangerous.
Anyway, I really don't believe in these chart formations. Everybody seems to use them, but all but 5% lose money. So, there has to be a beter answer.
Having said that, my little chart formation seems to be paying off nicely. Up 10 points now from where I called it.
I am up $1,660 today in the account for the World Cup Trading championships from a base $25,000 per unit account.
They called me a "gold mine", and I wish the compensation structure they had was the same on collective2.
Quote from bhardy307:
Good for you. How's you Covestor account doing?
Up about 1% today. What I do in futures is not replicable in stocks performance wise because there isn't a way to get anymore leverage than 3 to 1 on your trades, when my futures are usually 5-6:1 and up to 8:1 as it is today with both my price physics oscillator on at the same time as my pairs trades in NQ futures.
I also have a stat arb trade in TF up $1,250 so my pairs system says long, my price physics says long, and even my stat arb says long.
Another foolish call by grandsupercycle who expected a waterfall sell off and I think I saw NQ move 20 ticks on a 1,000 lot trade earlier today but immediately moved back up 10 ticks.
Today's pretty sweet! Now Up $2,500!
Quote from bhardy307:
On a different note, as I understand it, you are effectively self-employed, managing a mutual fund. Does this qualify for the required work experience for the CFA?
Of course it does, but I haven't always been completely independent. I'd been employed as an independent contractor from November 2006 to January 2010 so after two years on my own I have the minimum requirement for the charter totalling 5 years work experience.
Dates of inception as I understand it are determined by how long you've held an active securities license, and that's well over 4 years from November 2006.
Also, it isn't a mutual fund, but classified similarly to collective2 subscription sites.
Quote from bwolinsky:
Of course it does, but I haven't always been completely independent. I'd been employed as an independent contractor from November 2006 to January 2009 so after two years on my own I have the minimum requirement for the charter totalling 5 years work experience.
I was just curious. I have a couple of years of self-training to do, but I too plan to complete the CFA exam sequence. I have no desire whatsoever to sit in a bank and sell mutual funds so I was rather interested to see your path.
Quote from bhardy307:
I was just curious. I have a couple of years of self-training to do, but I too plan to complete the CFA exam sequence. I have no desire whatsoever to sit in a bank and sell mutual funds so I was rather interested to see your path.
Just talk to an IA that isn't a broker/dealer. Because my former boss wanted to keep his securities license compliance rules after Dodd/Frank required him to join a broker/dealer and that created a mess of conflicts of interest that wouldn't have been there if he rescinded his license and just kept his Series 65 IA license than both that and Series 7.
They didn't approve of Covestor so I left, but not after running a viral facebook ad trying to hire IA's to work underneath me because truly this industry is one massive pyramid scheme. I also wanted to start my life's work and that didn't include working with broker/dealers not concerned with anything but offering no advice other than to keep my clients allocated to good third party managers but I had no control of their sell discipline and I didn't like that aspect to it but knew buy and holding in managed accounts was a lot better than having them sit on mutual funds.