Euro Chat with Joe Ross
Chat log from: Wednesday, February 6, 2008
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| crosten | Hey joe. |
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| JoeRoss | Hi everyone. |
| JoeRoss | What's new? |
| zendre | Hi! |
| zendre | Nice Avatar :) |
| crosten | joe wheat made a new high today did you manage to catch it ? |
| JoeRoss | It looks just like me :-) |
| JoeRoss | crosten: No, I didn't notice anything in the grains. |
| crosten | Guess we have to pay more for bread. |
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| zendre | Actually I think it was on a Pakistan Buy news. |
| crosten | 10.33 per bushel |
| JoeRoss | I guess so, bread will maybe cost more than steak ;-) |
| zendre | And that is why the Meat-grain spread will start to work. |
| JoeRoss | The wheat shortage seems real and there won't be anymore until around May. |
| zendre | Fortunately I have not entered yet. |
| YV | Hello everyone. |
| JoeRoss | In May, the Southern part of the U.S. will begin to harvest the hard red wheat, which is what we export. |
| crosten | joe can you tell me whether the stock market S&P is in an establish up trend, downtrend or a range? |
| JoeRoss | Hi YV. |
| crosten | Does that mean wheat will come down around May? |
| JoeRoss | crosten: The S&P is barely in an up trend. The up trend line was not broken but it came very close. |
| JoeRoss | Wheat prices will depend on the quantity and quality of the harvest. |
| JoeRoss | Maybe by late June or July they will begin to know. |
| crosten | I am confused. So u are saying we are in an up trend on snp right? |
| JoeRoss | Officially, yes. The SNP up trend line has not been broken. |
| zendre | Let us talk about your favorite: GOLD :-). Would you go long above the 912 area? |
| JoeRoss | crosten: I think they look at a 200 day moving average, or maybe a yearly chart. |
| zendre | It seems to me a TTE, maybe by the rules we should have already gone long today after breaking 911.3. |
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| crosten | Joe, how did you draw your trend line? I can't see how you manage to draw an upward trend line? |
| JoeRoss | crosten: I'm not talking about a trend line I have drawn. I'm talking about what the market considers to be a up trend. |
| crosten | But you said up rend line joe ? this is confusing. |
| JoeRoss | zendre: I would go long before that, but try to understand when and where the correction ends. |
| JoeRoss | crosten: Yes it is confusing. |
| JoeRoss | crosten: You have to look long term. |
| zendre | S&P weekly or monthly? |
| YV | Did anyone try gimmie bars in ES contract during European hours, It seems to be working almost anytime. |
| JoeRoss | zendre: I don't think the correction in gold is over. There may be more to come. Just a guess...an opinion :-D |
| JoeRoss | zendre, crosten: I will have to take a look. |
| JoeRoss | I don't have my long term charts available at the moment. |
| zendre | It is below the 20MA on a monthly chart. |
| JoeRoss | I think they are looking at yearly charts. |
| zendre | Joe, do you use the advanced cycle functions in Genesis TN to trade futures? |
| crosten | joe suppose you have been trading a particular method for a long time, than a trade appears one day and u had a strong intuition that the trade is not going to work today ? do you follow you intuition or do you just ignore it ? |
| JoeRoss |
All I know is that whoever decides on "Officially" is saying the up trend is still in effect. I think it has to drop below 1330??? for them to call it a broken trend. I read the figure just this morning but I can't remember where. |
| JoeRoss | zendre: No. I wouldn't know where to begin with advanced cycles. |
| JoeRoss | crosten: I follow my intuition. |
| crosten | joe you have met many interesting traders, have you met a private trader who has a billion dollar in his trading account ? Just curious whether such a private trader exists. |
| zendre | I do have a very good newsletter for the grain market: http://www.allaboutfeed.net/ |
| JoeRoss | crosten: I have never met one. 2 years ago I tutored a guy with a 1 billion account, but he was managing money. |
| zendre | Have a look. It collects all the news about grain and meats. |
| JoeRoss | zendre: Sounds good. |
| zendre | They send out newsletters if there is any news. |
| JoeRoss | That's the best kind of newsletter. Too many people send you something every day if you need it or not. |
| crosten | joe who is the most interesting trader u have met, trading in the most unorthodox way ? |
| JoeRoss | crosten: If I knew what an orthodox way was, I might be able to answer the question. |
| crosten | Strange way joe |
| JoeRoss |
crosten: No way is a strange way. If I don't know what an orthodox way is how can I know what an unorthodox way is? Is there really such a thing as orthodox or unorthodox ways of trading? |
| zendre | Buy if it is above 20MA :) or/and 20days RSI crosses 70% and sell if goes below 30%. |
| crosten | joe what are you thoughts about MSFT buying YHOO? |
| JoeRoss | crosten: I didn't know they had done that. |
| JoeRoss | crosten: I did think of a lady who was trading a strange way. She claims she trades by the ocean tides. ;-) |
| crosten | lol |
| zendre | MSFT, Oracle and Google buy up everything in the IT |
| JoeRoss | She got a lot of people to subscribe to her newsletter with promises of great riches. |
| crosten | if her method makes money why not right ? |
| JoeRoss | I think what she was doing was having 2 mailing lists. One list she told to go long and the other list she told to go short. That way someone was always winning. |
| zendre | It does make money to her :) |
| JoeRoss | crosten: It made money for her. But I haven't see her around in years. |
| JoeRoss | Maybe she is in jail. |
| crosten | joe did you make any trading mistakes in 2007 ? care to share. |
| crosten | A mystic. |
| JoeRoss |
crosten: 2007 was virtually a perfect year for me other than one thing. My dyslexia caused me to incorrectly enter a number of trades, and I had to fight to get them right. |
| crosten | joe there are many CFDs on different instruments what type of CFD is appealing to you ? |
| crosten | Ha ha your dyslexia made u money right ? |
| JoeRoss | crosten: I would prefer commodity CFDs the most. |
| crosten | What is the reason joe, that is interesting . |
| zendre | Joe, any news on option writing newsletter? |
| JoeRoss | crosten: My dyslexia causes me much grief when I enter or exit trades. |
| JoeRoss | crosten: Commodity CFDs make perfect spreads. |
| JoeRoss | zendre: No news. It is looking more and more like it isn't going to happen. |
| zendre | I am sad :-( |
| JoeRoss |
It involves a huge commitment of time and energy, and I haven't found anyone who is willing to make the commitment and is also a good option trader. |
| crosten | Perfect spreads ? Are commodities futures spread not perfect ? |
| zendre | Could you please give us an example of this CFD spreads? |
| crosten | How about Alan Parry? |
| JoeRoss | crosten: Commodity futures have different unit values. CFDs on commodities all have the same unit value. |
| JoeRoss | zendre: I can't give any examples. I don't have any CFD data. |
| crosten | CFDs cost more to trade compare with futures, right ? |
| JoeRoss | crosten: Alan is not interested in being tied down to a newsletter. |
| JoeRoss | crosten: Yes, more costly. |
| crosten | joe do u have a CFD broker? |
| JoeRoss | crosten: Not yet. |
| JoeRoss | I am waiting for them to be available on IB. |
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| ciardim | Good evening. |
| crosten | joe i see you will be releasing you CFD online seminar soon, will you teach how to enter and exit CFD trades ? |
| JoeRoss | I am very limited as to the broker I can use. Most brokers will not take a tax free corporation. |
| ciardim | There is someone from italy? |
| zendre | What do you think about KC and CC up trend? |
| JoeRoss | Good evening ciardim. |
| JoeRoss | crosten: Yes I will teach how to enter and exit CFD trades.. |
| crosten | What is a tax free corporation joe ? |
| JoeRoss | It's really not much different than entering other kinds of trades. |
| crosten | When will the CFD seminar debut? |
| JoeRoss | ciardim: sometimes someone is here from Italy, but so far, not today. |
| JoeRoss | zendre: I don't watch the New York markets. |
| ciardim |
I live in italy, 3 days with joe in USA how much cost for private training? Is the same for 3 or 5 days? I am interested to come to USA, but with only joe, no other traders. |
| JoeRoss | crosten: It is a corporation that doesn't have to pay income tax |
| zendre | I will be from Italy 2 weeks later when I go skiing :-) |
| JoeRoss | crosten: I don't know when CFD will debut. |
| crosten | You said in February the online CFD will debut joe ? |
| JoeRoss | ciardim: The cost is $1,500 per day, for as many days as you want. Just you and me, no one else. |
| ciardim | Zendre come to me. I have a house vacant ::biggrin |
| JoeRoss | crosten: It is February and I haven't even started on it. |
| crosten | What is the likelihood that it will be released this month? |
| ciardim | 1500 a day is not small., Do we only learn or do we also trade? |
| zendre | Sure understood. |
| JoeRoss | crosten: The likelihood is ZERO :-D |
| zendre | I have to travel to Texas too. |
| crosten | joe u said u did not watch New York market i suppose you are watching Chicago, right? |
| JoeRoss | crosten: Just Chicago. |
| crosten | When will the CFD seminar be released joe ? |
| JoeRoss | crosten: I imagine some time before 2012 ;-) |
| zendre | Joe, I did not see any seminars in the US either. Do you do seminars e.g. in Austin? |
| JoeRoss | No U.S. seminars. They are too much trouble. |
| crosten | joe are you anticipating any major trend in 2008 in a specific market. |
| ciardim | Excuse me! In 3 days i only learn or trading too? I informed you I participated in may 2007 the day trading course in Ravenna. |
| crosten | joe now that we a have a triple top in eur/usd, do you feel that the eur up trend is over and we will not see 1.5? |
| JoeRoss | crosten: Read what I write in this week's Chart Scan. I address that topic there. |
| crosten | Great! |
| zendre | I am not a very diligent christian, but I know that we have to have some goal above making a living. |
| crosten | Great! |
| JoeRoss | crosten: I don't anticipate trends, I trade what I see. |
| JoeRoss | zendre: My only real goal is to serve God and mankind. |
| crosten | Joe, did you miss my eur/usd question? |
| zendre | My plan is to make a school for IT talents. |
| JoeRoss | I answered it crosten. Read above. |
| crosten | Ok. |
| ciardim |
I wrote in may 2007 i was in Ravenna at Jolly hotel, ok? I have seen the course of 2 days. Now i ask: if i come to USA 3 days joe only teach to me or teach and trade? |
| JoeRoss | ciardim: We can do whatever you would like to do. Teach only or teach and trade. |
| crosten | Joe, am I correct to say that the euro is in a very huge range? |
| JoeRoss | Hopefully you will make the cost of the seminar and the travel. But if trading is done, you will trade your own account. |
| JoeRoss | crosten: Trading Range is correct. |
| zendre | Anyone interested in meats? |
| JoeRoss | Actually euro is still a congestion. |
| crosten | Joe, do you know Murray Rugerio? |
| JoeRoss | zendre: are you cooking steaks? ;-) |
| JoeRoss | crosten: I don't know him. |
| zendre | I did a good long LH trade, but it is doing a correction. Any mid-term opinion? |
| JoeRoss | zendre: Which month? |
| zendre | I did April. Interestingly enough, PB is rising. |
| crosten | Joe, can you recommend a CFD broker? |
| JoeRoss | It really doesn't matter which month. Meats almost have to rise because of high feed prices. |
| JoeRoss | crosten: I can't recommend a CFD broker. |
| crosten | Just 1 joe. |
| JoeRoss | I don't know of any I would trust. |
| crosten | I wanna give them a call. |
| crosten | Test them. |
| JoeRoss | That's why I am waiting for IB. |
| zendre | Good opinion (experience) about brokers :-) |
| crosten | When is IB debuting? |
| JoeRoss | crosten: You will have to ask IB. |
| zendre | Joe, if you have some influence, ask them to connect to ICE for softs. |
| JoeRoss | It's time for me to get back to work. One hour of charity on the chat is enough :-D |
| JoeRoss | zendre: I have no influence with IB. |
| JoeRoss | See you next week. |
| crosten | How about a free online charity seminar ? |
| JoeRoss | Bye to everyone. Have a great rest of the week. |
| zendre | Thanks a lot. I hope next time others will really join the chat. I am interested in their opinions. |
| JoeRoss | crosten: I will do that. The seminar will be free but donations of $1,500 or more will get you in the door. :-D |
| JoeRoss | Molto saluti, servus, adios, adieu, and good bye. |
| martin28 | Hello |
Next EURO Chat with
Joe Ross:
Wednesday, February 13, 2008
Time: 8:00 - 9:00 P.M., European Central Time (Berlin, Paris, Rome)
COME BACK WITH YOUR TRADING QUESTIONS & COMMENTS!
