Category Archives: Links

The Pros and Cons of College via @jaltucher

WHAT SHOULD I DO INSTEAD?

  • Study many things. Study things you enjoy. If you don’t enjoy anything, work on a charity or travel the world (yes, this costs money but it’s cheaper than college).
  • Work at a job. If you want to be a doctor, work at a hospital and see if you really enjoy it.
  • Read every day. Five pages a day.
  • Learn these skills that are critical in every aspect of life but are never taught in college:

a. Sales

b. Negotiating

c. Well-being / Positive psychology

d. Failure

e. Communication

Source: The Pros and Cons of College

Watchlist for 8-10-2015 – $AQXP, $VLTC, $AVXL, $EMKR

Today’s Plan:

Several crazy low float runners this morning. Thought about going long $AQXP at about 6:45am, but chickened out. Feeling very high on the FOMO scale this morning so I’m going to force myself to be patient or play puny size at the open.

Today’s List: Full list from Yahoo Finance

Aquinox Pharmaceuticals Inc. (AQXP) -NasdaqGM

Obvously this has to be on watch, but I have no idea how to trade it right now. Its up sooo much I can’t get myself to buy it. And its so low float, that I can’t short it either. Going to avoid early and ideally it becomes clearer as the day goes on. I’m still short biased of course, but it appears borrows may be hard today.

Target: Not sure right now…

AQXP

Voltari Corporation (VLTC) -NasdaqCM

Seems to have popped and now dropped in pre, ideally another short squeeze at the open.

Target: $11.00

VLTC

Anavex Life Sciences Corp. (AVXL) -Other OTC

Keeps hanging around, it’s a POS for sure, but annoying that it just hangs around and hangs around. I’ll short but only into a big move, I think if you try and fade it you will just get squeezed out or bored to death.

Target: $1.50’s

AVXL

EMCORE Corporation (EMKR) -NasdaqGM

“Back burner” setup. Will look to fade on weakness.

Target: Fading action, pile it at $7.00

EMKR

Textbook Trading – Notes and Review of Chapter 1 – Purpose & History by @investorslive

Table of contents:

Summary:

If you find these notes and reviews useful please consider purchasing Textbook Trading through this affiliate link:

This chapter was very useful but mainly for true beginners. That being said it’s still certainly good to refresh as a veteran, but obviously every story has to have a beginning and a history of the presenter and his methods.

intro

The core of this segment goes into how Nate got started, how he worked through big losses and bad trading to refine his methods into what works consistently today.

Some of the best and most useful anecdotes cover a lot of assumptions in the market and why they are often wrong. But also how to learn and profit from the assumptions that do work.

review

I don’t have a ton to detail about this chapter since it is really what I often to refer to as “housekeeping” chapter, again not that it’s bad. But the best analogy I can think of is it’s very much like the first session of a college class, you meet the instructor, go over the syllabus, lay out a roadmap of the class and then leave early. The real education begins at the second session.

FYI, for each chapter I will enclose my notes, these are just items that I want to remember but will also in theory give the reader a brief bulleted list of items discussed.

Notes:

Introduction
Pay market tuition
Strategy that can scale to any size account
Consistency
Long and Short styles
Forget why 90% fail, focus on why 10% succeed
Learn from Nate’s mistakes
Background of Nate getting into trading – interesting especially for beginners
History of email pumps/disclosures
-Believing in the hype of junk stocks – Long side
-Positive PR’s keeping you stuck
Losing money even on good trades – taking losses
Learning to not believe message boards/email/twitter
History of stock promoters embedded in filings
Hard copy mailers
-Going long these was “easy” for a while
-Immune to big price swings, because they all went up
“The motorcycle story”
Good lessons on big losses
Avoid boredom trades
Avoid “revenge” trading
Scared money/making rent
Myths of trading – dumb things people think about penny stocks
-reverse splits
-buy backs
-cheap “good deal” “can’t go down more”
-big buys — somebody is selling
Trade DON’T invest
Rationalizing bad trades – Trade tickers not companies
Always follow your plan if trades don’t work, don’t start reading looking for excuses to stay in.
Need to be humbled by the market at some point
How to take losses
Start with a plan to risk X to make Y, otherwise you are out.
Lock in profits as they come, be in cash overnight.
Be realistic in your goals

Review of Chapter 5 – Shorts and Faders – @investorslive Tandem Trader

Link to notes and review of Chapter 1

Link to notes and review of Chapter 2

Link to notes and review of Chapter 3

Link to notes and review of Chapter 4

Link to notes and review of Chapter 5

Link to notes and review of Chapter 6

Link to notes and review of Chapter 7

Link to notes and review of Chapter 8

Link to notes and review of Chapter 9

PAID AFFILIATE LINK to Tandem Trader DVD

Summary:

chap5

Another very solid chapter, especially if you are new to shorting or working on identifying low risk short setups this would be VERY useful to you. The late day fade has been my bread and butter for 5+ years so a lot of this was very familiar to me. That being said while I was not glued to my seat during the live trading getting into the setups, I found watching how Nate manages trades while in them, and working with exits very interesting.

I had not realized how patient he was with a lot of these types of trades. When in the chat room or twitter it seems he is moving in and out every minute. But in reality, he is picking areas of support and resistance and managing the trade between them.

I really found a lot of value in Cam’s voiceovers in this chapter as well. He has voiceovers in every chapter, but I really appreciated his input in this segment. Its a good idea to produce it the way Nate and Cam have. You can tell Cam watched the whole thing several times and picked up on ambiguous or unclear moments and interjects very useful input.

I’ve said it several times, but still loving the “risk management” protocols I’m picking up. Again I thought I was very disciplined and explicit in my stops and plan. In reality I was doing a very poor job. But the great thing about this DVD is its helping me spot and fix some of the weakest parts of my game.

Notes:

Chapter 5 – Shorts and Faders

Fader – good way to set risk at HOD

Lot of good examples of paitience
Good voice overs by Cam, lots of value add
VERY useful examples and explanations of “waiting for backside of the move”

-GPRO – intraday para and lated day fade
Need to get a feel for range
bigger range, less size, need to adapt
trading para’s need to cover into any wash

A trade without a plan, isnt a trade at all.

Watch for lower highs for fade, HOD reject

-PBR

You can always get back in a trade, don’t hold bad trades, to much hassle and stress.

Good lesson on not turning winners into losers.

More patience with big daily chart runs, healthy for pullbacks, take advantage of it.

Good real time of LOD – G/R washout – Whole dollar amount – good example of what Nate talks about “Lining up multiple setups”

Whole number washes, great exits.

-ATTBF

Wedbush locate short utility.

Wait for speedups, and thin up on spread.

Good Level 2 example. Bids coming in, and offers moving away.

Only want overextended stocks, not stocks that are just up big.

-ISR – ITCC

Let them run, then put in a lower high. Sets risk for fade. No peak, unlimited and unknown risk.

WAIT FOR BACKSIDE!

Lower highs really bad for OTC’s, good risk/reward on short

So much easier to set risk and size on backside. Frontside may work but its a headache and you will invariably cover emotionally.

If you make a mistake on letting a loss run, always cover into a pullback.

“All that matters at the end of the day is doing the least amount of work for the most amount of money”

-PVCT

Really like Nate speaking outloud the plan, very useful.

WHen unsure, take it off. you control your trades not the market.

-MNKD

Look for big overextended charts

-TWTR

Good HOD reject example.

-WWE

adding into winner

Trade Log – Covered $NQ

Exit: High $7.20’s

P/L: +$500ish

Notes:

Covered half into the crack then the other half when it looked like it didnt want to crack $7. I call this an OK trade, made the best out of a mediocre setup and BEST OF ALL, traded my plan.

Trade Entry: http://blog.tbohen.com/?p=3451

BOT 1000 NQ, Stock, SMART, USD 7.129 SMART(USD) 12:47:27 (GMT -4:00) 2073880972 new
BOT 1000 NQ, Stock, SMART, USD 7.43 SMART(USD) 12:00:25 (GMT -4:00) 2073880930

Joe Rogan on War Machine: Domestic violence ‘always evil’, should be ‘punishable in the worst ways possible’

Well said…

“People keep asking me to comment on it. This is the only thing I would ever say: Anytime there is an altercation like that between a man and a woman, and a man hits a woman, it’s never correct, it’s always evil, it’s always wrong. It’s beyond fucked that a guy could beat a woman. And it should be a heinous crime that is punishable in the worst ways possible.”

via Joe Rogan on War Machine: Domestic violence ‘always evil’, should be ‘punishable in the worst ways possible’.

Traveling Part Time Trader – Day 4 Summary

Another slow but consistent day today, got up early and proceeded to my mooching wifi location. The town we are in near Fayette State Park, Garden, MI has no coffee shops etc. So I was forced to romance the barmaid at a local watering hole into handing over their wifi code. Since the bar does not open until 11AM, I sat in my truck for 4 hours. Far from the ideal setup thats for sure, running sprints later in the evening I thought my hips and ankles were going to explode.

1

Trading wise ended up +$750ish, so I’m happy with the day. The trade on $DANG was a complete degenerate gamble holding into earnings. And like usual I botched it. Covered pre market at $15.25, and I was short from $15.80’s I think. Pretty quickly out of the gate it dropped to the low $14’s and then faded/went sideways all day. This morning it looks to be setting up to crack $14, so could have been a huge trade. But I broke a lot of rules on this one and was forcing a trade, so I’ll take the $500 bucks. Other trade of the day was a quick grab on $EXAS falling through $17.15, actually somewhat happy with this trade, it was a decent technical breakdown. I just went a little small. Overall considering I was sitting in my truck outside a bar for a couple hours, I’m happy with the profits.

2

Camping wise it was a laid back hang out kind of day. Garrison and I did quite a bit of fishing, I have some decent pictures but they are on the other camera and I forgot to bring that back to my parking lot office this morning.

5

Lily and I hung out on the beach and I read and enjoyed the scenery while she built structures with the limestone. I mentioned this yesterday, but the limestone formations all around the park are very interesting. And cool to look at, the pictures do them little justice.

6

Before dinner we spent some time exploring some of the walking trails around the park, the kids had a blast climbing out on some of the trees overhanging the cliffs. I’m proud I’m the parent of a couple daredevils but it can be a little nerve racking at times too. I’ll post pictures tomorrow.

3

This afternoon we will head off back west, and move on to our next destination, J.W. Wells State Park near Escanaba MI.  I’m assuming I’ll have a little better network access so I should be back with another recap tonight. Instead of lagging behind a day.

4

Jason Ferruggia | Muscle Building Workouts | Bodyweight Exercises

I added bold to what I think are the best and most valuable items.

 

1) Get Comfortable Being Uncomfortable

If you never push yourself outside of your comfort zone you’ll never know what you’re capable of in life. And you sure won’t achieve greatness or badassery.

2) Have the Balls to Say No

Some people can’t say no. As a result they’re always unhappy because they’ve let themselves become a slave.

Every time you say yes to one thing you’re usually saying no to something that would make you happier and possibly more successful.

3) Don’t Ask too Many People for Advice or Opinions

Have the cojones to make a damn decision and stick with it. Don’t call up everyone you know and ask for their opinion. This will result in getting nothing done.

Ever.

At the very most have 1-2 people you go to for advice on major decisions. For day-to-day stuff it’s ready, fire, aim. Pull the trigger and move on.

Execute.

Always.

4) Don’t do Shit You Hate

You’ll never be happy or successful doing shit you hate. That’s pretty simple.

Do what you love, live where you want to live, spend time with people you want to be around, live your life with passion and you’ll be a badass.

Everyone has the power to do this.

Only 5% are willing.

5) Never Wait for Perfect

Stop second-guessing and overanalyzing. There is never a perfect product, a perfect idea or a perfect time.

Just… freaking… do… it.

6) Always do the Right Thing

As Mark Twain said, “This will gratify some people and astonish the rest.” That means when people aren’t looking, when there will be no pat on the back or recognition and even when it’s not what you want to do.

7) 80/20 Rule, Baby

Don’t major in minutia and get distracted by nonsense that makes no difference in the end. This applies to work, training and life.

8) Don’t Fall into the “Busy Trap”

You’re not too busy.

I’m not too busy.

No one is.

If you really want to have dinner with your dad you’ll make the time. If you really want to take saxophone lessons you’ll make the time.

You’re only lying to yourself.

There are amazingly impressive people who get a weeks worth of stuff done every day.

They’re no better than you. They just have more focus.

9) Never Waste Time Arguing

Unless your argument is going to help find the cure for cancer or get a major, life changing bill passed there is absolutely no point in arguing with anyone over anything, ever.

There are so many things to learn, people to meet and places to see.

Are you really going to waste a second of this precious life arguing with someone about trivial bullshit like whether you should eat breakfast or not?

10) Train Like a Badass

That means training with passion and giving it all you’ve got. Never half assing it or going through the motions. The fact that we are healthy enough and lucky enough to go to the gym a few days a week and train the way we like to is a blessing and a gift.

People are at war or living in unspeakable poverty right now.

To not give it your all or tap out on a workout is an insult to yourself.

Guys have had limbs blown off only to return to the gym and do the best they can to make the most of what they’ve got left.

I think of that when I get a little frustrated with some achy knees or cranky elbows.

“Deal with it, you pussy,” I tell myself.

You are very… very… very lucky to be able to do so.

There’s more to being a badass than being a tough guy.

And the world needs more of them.

Like you.

Jason Ferruggia

via Jason Ferruggia | Muscle Building Workouts | Bodyweight Exercises.