Old Pro Insight
The feedback below is from an old pro trader. The excerpts he sent and his feedback about those excerpts are listed. As an FYI, he knows Jones, hence the lack of formality:
***
Hi Michael, I thought it important to share some conclusions i have been able to reach from my latest batch of newsletters and research in a few markets I follow [that came across my desk].
U.S. stocks: “We remain long term bearish but short term friendly” to this ongoing developing trend. “If the market goes below 11130 basis the cash dow it is going down otherwise it could easily rally to 11400 or maybe even 11700.”
Boy is that some good insight.
Sugar: “We remain committed to the bull camp in october sugar and are currently looking for a place to ad to our existing long position at 16.42. Some october calls are reaching extremely low prices.”
No shit sherlock! What did Paul say about “losers averaging losers”?
And finally my favorite: “Risk management is the most over rated ingredient in successful trading. We never recommend risking more than 25% of one’s trading capital per trade. Great traders just know when to step on the gas.”
