TSPCenter Interview with PerfectStockAlert.com

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Jahbulon
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TSPCenter Interview with PerfectStockAlert.com

Post by Jahbulon »

This weekend I had the pleasure of interviewing Christian of http://www.PerfectStockAlert.com.

First of all I am very grateful to Christian for providing me the opportunity to do this interview. It really means a lot to me, and I hope the TSPCenter community finds benefit from it.

For the members that submitted questions, if you do not see your question, then because of redundancy I removed it (I felt it was answered during the interview between us).

See the next comment box to see the entire interview.

Thank you, and God bless.

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Jahbulon
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Re: TSPCenter Interview with PerfectStockAlert.com

Post by Jahbulon »

Interview http://www.TSPCenter.com conducted with Christian of http://www.PerfectStockAlert.com on December 1, 2012.

In this part we discussed Christian’s background…………..


TSPC: How long have you been trading?

PSA: As of November 28th, 2012, I have been trading for ten years.

TSPC: How did you first get interested in trading?

PSA: I became interested in the stock market when I was looking for a way to turn a small amount of money into a larger amount of money. I needed something I could buy and sell without reaching a saturation point; stocks seemed like the perfect investment for this, as it allowed me the ability to compound my returns without running out of product to buy or sell.

TSPC: How did you learn how to trade?

PSA: I learned how to trade from the school of hard knocks. I read everything I could get my hands on and then tested theories and ideas with real money. I don’t recommend this method.

TSPC: Are you self-taught?

PSA: In the sense that I did not go to college for the knowledge, I am self-taught, but I did get a lot of foundation information from those who have gone before us, so I can’t take credit for everything I know.

TSPC: Many on TSPCenter consider you a mentor. Did you have a mentor?

PSA: It is a huge honor to be viewed as a mentor, and I don’t take that responsibility lightly. I did not have a mentor when I first started and it made the learning curve that much harder; that is the main reason I started PerfectStockAlert.com

TSPC: This is an important point that I wanted to approach, but it is a personal issue. What drove you to do the site? You could be making a small fortune off of a subscription service, and I would certainly not mind paying for your service. So what drives you to do it? People are for the most part very grateful, but I’ve seen comments posted on the YouTube channel where some people only halfway blindly follow your commentary, and then get really nasty when they make a mistake. So it seems it would have to be very frustrating on those days.

PSA: I have made a small fortune selling subscription services, and I know I could do it again, but I also know I could make far more as a 100% free service once the word of our free service gets out. Regarding haters, that’s just something you have to deal with in this business. As they say, you are only as good as your last trade.

TSPC: To whom do you attribute your success?

PSA: I attribute my success to God. I know that sounds trite but my biblical background and upbringing taught me to seek out the truth, test it, and adhere to it no matter what: This gave me the scientific knowledge I needed to build a system of trading that works.

TSPC: Amen to that. How were the early years? Were you making money?

PSA: The early years were a bit misleading as my first trade doubled in value in exactly 30 days, my second trade doubled in value inside of four months; by the end of my first year I had seen a $1,000 investment grow to nearly $20,000. I had no idea at the time that I was in a bull market, or that there was such a thing as a bear market. I was making money but I was too focused on the money and not enough on the education. It caught up with me later.

TSPC: Did becoming consistently profitable come easy for you, or were there a lot of setbacks?

PSA: There were a lot of setbacks, but most of them where due to a lack of knowledge on my part. Once I could see the problem or see what needed to be addressed, it was not that hard to adjust the method. Consistent profits are much easier to come by now.

TSPC: In the beginning did you underestimate how difficult trading can be?

PSA: Absolutely. I remember a simple thing like reading an article was difficult because I was not up on all the jargon. There is an unbelievable amount of information you have to learn to be truly capable.

TSPC: At what point did you become confident in your trading abilities?

PSA: I think it was the moment that TSPCenter asked if I’d be willing to do an interview.

TSPC: Well get ready, because once I finish this work commitment in June we are going into high gear to take TSPCenter to the next level. We haven’t even scratched the surface yet, so we plan on driving thousands more to your sight…..REAL SOON!

PSA: I’m looking forward to it! I really enjoy working with TSPCenter; you guys have a great service, and you are one of few that actually have the integrity to go the distance.

TSPC: Thank you.

Should traders expect to have difficulty their first few years of trading?

PSA: Well, it’s a matter of knowledge, if the trader can find a good mentor from the start, then I’d say they could expect to be profitable from the start. If they don’t have a mentor, they are going to have to learn the hard way and make mistakes; those mistakes are going to cost them.

TSPC: Did the thought ever enter your mind to give up?

PSA: I think the thought entered my wife’s mind more often than it entered mine, but yes, I did hit some walls along the way and some of those walls cost me substantial amounts of money.

TSPC: What books or training would you recommend?

PSA: I have several books I recommend, but for the most part these books pertain to fundamental analysis rather than trading. I feel there isn’t anything you’ll read in a book about trading that you can’t learn on our free website at PerfectStockAlert.com, so I don’t recommend books on trading that much. For those interested in understanding fundamental analysis you want to study the best, so read books about Warren Buffett’s methods, and those books written by Warren Buffett’s teacher, Benjamin Graham.

TSPC: Subscription services?

PSA: I have used StockCharts.com for several years, and it’s the only chart service I pay for or recommend.

TSPC: What advice would you give novice traders?

PSA: Make PerfectStockAlert.com your home page.

TSPC: I second that. People want answers, and Perfectstockalert.com is the real deal, providing the way, the truth, and the light, all for a simple investment of one’s time.

So what mistakes do novice traders commonly make?

PSA: They think they know more than they really do. They think they can call the bottom and the top, when that is actually very hard to do. They tend to trade against the odds rather than stacking the odds in their favor.

In this part we discussed more of his trading insights…………

TSPC: First of all, your insights and analysis is better than any of the subscription services I have ever subscribed to. I asked about subscription services above. I have tried most just so I can share with our members whether they were worth the money or not. My overall takeaway is that these services seem to be making their money from subscriptions and not their trading. What are your thoughts?

PSA: First, let me say thank you for such an amazing compliment, after all the work I’ve put into my trading skill set, it means a lot. Regarding your impressions of most subscription based services; I’d have to agree 100%. As you may or may not know I have run several subscription-based websites, both by myself and with partners, and there is no risk to an owner of a subscription-based service. You are going to sell memberships every day, you are going to make money selling these memberships, and it helps if you are good at what you do, but it’s not required to be profitable; and that’s why these businesses pop-up. In reality, if a trader takes the time to watch every technical analysis tutorial video on our free website, that trader is going to know more about trading than most traders running subscription based services.

TSPC: Do you just trade on what you see on the charts, or do you do forecast?

PSA: I do a bit of both, but I lean more on the side of what I see, as forecasts are really easy to shift.

TSPC: Many traders look at cycles to judge where the market is going. Do you forecast with cycles? Elliot Wave? Fundamental analysis? Other?

PSA: There are some things that we can forecast relatively easy (earnings, employment trends, etc.) and traders are wise to keep an eye on these things, but the charts will reflect these items to the trader regardless so it’s not required that a trader follow them. Remember, if news is important other traders will be aware of it, and when they buy or sell ahead of this news it will alter the chart, and you will see it coming.

TSPC: Do you listen to other traders’ opinions about the markets? If so, does it have a negative influence on your decision making process?

PSA: In the words of Warren Buffett: “You are not right because others agree with you, or because others disagree with you. You are right because your reasoning is right.”

TSPC: In your videos you always identify reversal candlesticks (the shooting star or hammer). Are candlestick reversal signals fairly accurate?

PSA: They are very accurate when used to time trades within an overall agreeing trend.

TSPC: Many traders only risk 1% of their capital on any one trade. How do you do money/risk management? Do you set physical stops, or mental stops?

PSA: The best way to set a stop loss limit is by using options; this allows the trader to know they will be able to sell x number of shares at x price, no matter what happens. This allows the trader to define their risk from the start. Of course, options will not be available for every trading situation. I do think every trade should have a stop loss limit in place, but more important would be the discipline to exit a trade that starts to go against you. Regarding money management, it depends on what I am doing and no one system will work for every trader. I know I have had many people tell me I am far too aggressive for them.

TSPC: Just so I understand clearly, for example, instead of actually going short the market, you mean buying either a put or a call when the chart is telling you to go long or short the market?

PSA: Yes. Let’s say you want to buy WFC at $30 because you think it’s about to jump to $33; you could set a stop loss limit at $29.75 or you could buy a put to sell your shares at $29.75. Now let’s say WFC gaps down to $28.75 jumping over the stop loss limit at $29.75 (The guy who bought the put option to sell at $29.75 can still exit at that price, the guy who did not use the option is now showing a bigger loss than he/she had planned on).

TSPC: What are your feelings on using 3X ETFs for these trades? I know there is the issue with time decay, but if the reversal point does call the trend accurately we usually know it fairly quickly, and most of these trades only last two to three weeks. I ask because there is a lot of opposition towards using them in the media from other traders.

PSA: If it is a high probability trade, and not one you plan on holding for more than a few days, then I have no problem with 3X ETFs, in fact they make a lot of sense.

TSPC: Can you describe your worst trade?

PSA: I will never forget my worst trade: I took a short position in WFC (Wells Fargo) the night before the FED announced a ban on short selling. The following morning started with a phone call from my broker who informed me I had a margin call for $150,000. I was right on the trade, WFC ended up falling with the rest of the market in 2008, but there was no way for me to forecast a ban on short-selling. That still hurts my pride.

TSPC: Trading can be an emotional roller coaster with extreme highs and lows. How much of your trading is rule based and how much is your gut instinct?

PSA: I’d say 99% is rule based.

TSPC: Do losses bother you at all?

PSA: They annoy me, but I am right more than I’m wrong so that gets me through it.

TSPC: Do you have a percentage for your right to wrong calls? I know some traders will be wrong over 50% of the time, but because the right calls produce such substantial gains and the losses on the wrong calls are so small they are still very profitable. So if your right calls are higher than your wrong calls you would be VERY profitable.

PSA: One of the benefits at PerfectStockAlert.com verses other websites is the fact that we always mark our charts to show all of our calls, long or short, this gives traders the ability to see how effective our methods have been over time in many different markets. We also mark each chart with the stop loss limit so traders can see how much we would lose or gain on any trade. Typically, out of three calls I’ll miss one.

TSPC: How do you handle a losing streak?

PSA: If I go into a trade and take a loss back to back, I will usually sit out until I see what it is I am missing.

TSPC: There are very few traders that stay consistent over the long haul. Can people learn to be great traders?

PSA: Yes. They must learn to trade with the trend rather than against it. It sounds simple, but you’d be amazed at how often traders break this rule.

TSPC: Do good traders have special talents that the average person cannot develop?

PSA: No. Anyone can develop into a good trader, but it will not happen in ten minutes, and not everyone is willing to follow a set of trading rules.

TSPC: Not a follow up question, but rather my own observation. I find that the actual following of the trading rules is the hardest part because once people get into a trade their emotions run wild. I am quick to close a losing trade, but I still have a hard time with letting my winners run.

PSA: That is a very good observation, and that is why it is so important to follow the rules. Your rules should tell you when to avoid a trade, when to enter a trade, and when to exit a trade. Without rules you’re running on emotion.

TSPC: What is the balance between talent and hard work?

PSA: I don’t think I have any talent, so I’d say its 100% hard work.

TSPC: Do you know of any traders that just coast by on innate skills?

PSA: No.

TSPC: What kinds of misconceptions about the markets get people into trouble?

PSA: People think the markets are overly complex. They miss the simplicity of it. In short, they over complicate it and never learn to enjoy it. The markets are not out to get you, you are out to “get it” (In the sense that you need to learn it).

TSPC: Is the choice of a technical indicator a matter of preference? Why do you like the Ultimate Oscillator over other technical indicators?

PSA: It is a matter of choice, but once you understand the Ultimate Oscillator, the choice is pretty clear. When you look at the stochastic indicator, (slow, fast, full) you are seeing only one time frame; this makes it and other like indicators prone to false signals. The Ultimate Oscillator is based on multiple time frames so as to avoid false signals. Now, which one do you want to use when you’re planning a trade? It’s basically like looking at both a long-term and a short-term chart before you make a trade. When both the long-term and short-term charts tell you the same thing, you’ve stacked the odds of the trade in your favor. Why would any trader not want that benefit working in their favor?

TSPC: Over your career, what would you have done different?

PSA: I would have to say there are too many items I would have done different to list them all. I guess for starters I would have started trading at a younger age.

TSPC: Do you use a logbook or trading diary?

PSA: I don’t anymore because I make nightly market analysis videos on the website so I can always go back and see what it was that I was thinking when I made a trade.

TSPC: Should novice traders reading this utilize one?

PSA: Absolutely. Traders need to approach the market like a scientist, document your ideas, and your findings until they discover what it is they were looking for in the first place.

TSPC: Can you think of and share any simple trading systems TSP investors could use (example - simple 5 & 20 day moving average crossover) that works fairly well over the long-term?

PSA: For the long haul I would recommend investing over trading. There are no stock traders on the Forbes list of the wealthiest people; they are all investors or descendants of investors.

TSPC: So you think TSPCenter members would be better served investing the majority of their funds for the long-term, and just set aside a small amount for learning to trade?

PSA: Absolutely.

TSPC: Do you believe the markets can be manipulated?

PSA: The Fed banned short selling. That’s manipulation. QE1, 2, 3, etc… all market manipulation.

TSPC: What about intra-day? I hear rumors of a “Plunge Protection Team” that supposedly manipulates the dollar to move the market up, especially on light volume trading days. I have observed some really strange occurrences that make me wonder, but when I sit back and analyze it, although the Fed is big, the markets seem to be so much bigger that it seems impossible. But I really don’t know, and the conspiracy theories make me wonder.

PSA: Yes, the plunge protection team is a real thing, but traders need to remember this type of manipulation is only effective short-term, eventually the market does what it was going to do in the first place.

TSPC: How important is trading volume in your analysis?

PSA: Volume can alter how you interpret certain things on a chart, like gaps, so it is very important.

TSPC: So you mean like a gap up on extremely high volume would be buyable? Do you find that most gaps eventually fill? What I mean is once a gap occurs, like a gap up at the open on the NASDAQ, eventually the market should reverse and come back to close that gap? And if so, why do you think this phenomenon occurs?

PSA: Yes, there are gaps that can be bought into, but the larger the gap, the less people are willing to chase it, and this causes a vacuum which forces the gap to fill.

TSPC: That sounds like a fair explanation. What are the elements of good trading?

PSA: The trend gives you the direction; the rest is timing the entry point and the exit point.

TSPC: What kinds of things do you look for in charts?

PSA: Trend, chart pattern, gaps, candlestick formations, support and resistance, volume levels, etc.

Questions from TSPCenter members. If the question posed by a member was already answered I removed it (redundancy).

Crodanet5: What is your opinion of dividend paying stocks?

PSA: I require them in my long-term investments, as I like to get paid while I wait.

Crodanet5: Are we near a turnaround in the DOW and NASDAQ?

PSA: I try to avoid that question as it can make you miss signals due to preconceived notions on market directions.

Crodanet5: What is your ideal investment portfolio?

PSA: See Warren Buffett’s portfolio.

Crodanet5: How would you play TSP with the 2 trades a month rule?

PSA: If (and that’s a big if) I felt confident in my trading skills I’d take trades that looked promising and sit on my hands the rest of the time. If I had a great deal of time before retirement I’d use Benjamin Graham’s recommendation and simply dollar cost average over the long-term, avoiding trading in a retirement account. (Please note this is my opinion only)

Crodanet5: What portfolio mix would you suggest for the 50 year old, the 60 year old, the 70 year old and the 80 year old?

PSA: It would depend on the financial condition of the individual in question. Warren Buffett is something like 99% invested in stocks and he is in his 80’s, yet obviously this would not work for every 80-year-old individual.

Greg7895: What are your thoughts on gold as a midterm investment? When do you see the next secular bull market beginning and do you expect a significant market drop before that?

PSA: I don’t like Gold as an investment when I compare them to great companies with better return on investment. I can’t tell you when the next bull market will start, but I do anticipate a substantial market drop before that day comes.

Aitrus: What are your thoughts on the bond market, and how would that apply to TSP investors (AGG – F Fund)?

PSA: With the FED keeping rates low I don’t like the returns from bonds in this environment.

GT-NMSU: What were the reasons behind the retirement scare? Are you bored, tired, not getting the public support you anticipated, other?

PSA: Other.

Deucerider: When you do retire, what are the plans for Perfect Stock Alert? Will someone else do the day-by-day analysis or is the entire web sight finished?

PSA: Currently I have not met anyone interested in running PerfectStockAlert.com for free after I am gone.

Jerome: Do you find making consistent profits difficult?

PSA: No.

Jerome: Does successful trading/market timing require all day attention or can one successfully set up trades outside market hours.

PSA: It’s best to set up the trades outside of normal market hours.

Jerome: Is a daily chart strategy usually more profitable than a weekly, or monthly, chart strategy with fewer trades?

PSA: I focus on daily charts so I could not tell you.

Jerome: Do you recommend trying to time the market to avoid crashes even with longer-term retirement type holdings (like in TSP)?

PSA: There are times when stocks are just overbought fundamentally, a wise investor will take profits when these situations occur, and load up when markets are crashing.

Jerome: Do you use many smaller trades, or make big bets on trades that appear to have the high probability of gains?

PSA: I will bet bigger on higher probabilities.

Jerome: Did you change your system from when you first started to what it is today?

PSA: Several times, though each change was really an improvement to the overall original method.

Jerome: Do you find more opportunity, or less risk, in trading broad indexes versus individual stocks?

PSA: Yes. It is easier to read a market than an individual company as an individual company will be swayed by the market overall as well as the individual company news, etc.

Jerome: Where would you put a stop when shorting the current bounce in the U.S. market indices (Wilshire 4500, Nasdaq, S&P 500)? -- Just above the previous day's high, or just above the last major peak during the downtrend which should act as resistance?

PSA: At the last major peak.


Dcramer29: I just wanted to pass along our gratitude for the analysis. I'm personally grateful...and VERY HAPPY to hear that you are not retiring!

PSA: Thank you.

Dcramer29: Also just have one question. Do your techniques work in the futures markets? Grains, Energy, Softs, ETC.

PSA: Every chart is formed with buy pressure and sell pressure.

SkieS&RSys: Since the TSP allows essentially one trade a month into equities, what should the periods be on trending, momentum/leading, volatility, and money flow indicators?

PSA: I don’t understand this question.

SkieS&RSys: How important is support and resistance analysis in trading?

PSA: It is paramount to the trend and the trend is paramount to every trade.

SkieS&RSys: Have you ever employed or have knowledge of the AI/machine learning (neural networks, genetic algorithms, simulated annealing, or other data mining techniques) to assist in forecasts?

PSA: No.

SkieS&RSys: Do seasonal trends have merit?

PSA: Not enough to get me to make a video teaching anything about them.

SkieS&RSys: Do statistical trends have merit?

PSA: Trading is all statistics.

SkieS&RSys: Does you use relative strength (not RSI) in his analysis?

PSA: In the sense that certain charts make for better trade opportunities based on the distance from support or resistance, yes.

SkieS&RSys: There are several methods of drawing trend, support, and resistance lines. What method(s) do you use?

PSA: All of them, from one degree to another.

SkieS&RSys: How do you use different time frames in trading?

PSA: See the discussion on indicators above.

SkieS&RSys: How important are convergence and divergence principles? Are there specific indicators that work better than others in terms of convergence and divergence?

PSA: Divergences are very powerful indicators and I use them often.

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MLKMAN
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Re: TSPCenter Interview with PerfectStockAlert.com

Post by MLKMAN »

Are this guys returns available anywhere? I don't see anything on his site. From the videos I've seen, he doesn't actually say "buy here" or "sell here". All I see are pretty basic chart analysis with support and resistance lines.

Why did his paid subscription services end and why does he only make money from advertising now? Apparently the guy was getting ready to retire for "other" reasons before TSPcenter started expressing an interest in him and "sending people his way". Is this why he decided not to "retire".

I mean no disrespect, but this interview left me with more questions than answers. Of course, the proof is also in the pudding, so if there are some actual returns available, perhaps it would lead more credence to his analysis, if that is what one is looking for.
"We are all faced with a series of great opportunities brilliantly disguised as impossible situations."

michael234
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Re: TSPCenter Interview with PerfectStockAlert.com

Post by michael234 »

Great interview Jahbulon! Thanks! :D

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Jahbulon
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Re: TSPCenter Interview with PerfectStockAlert.com

Post by Jahbulon »

MLKMAN wrote:Are this guys returns available anywhere? I don't see anything on his site. From the videos I've seen, he doesn't actually say "buy here" or "sell here". All I see are pretty basic chart analysis with support and resistance lines.

Why did his paid subscription services end and why does he only make money from advertising now? Apparently the guy was getting ready to retire for "other" reasons before TSPcenter started expressing an interest in him and "sending people his way". Is this why he decided not to "retire".

I mean no disrespect, but this interview left me with more questions than answers. Of course, the proof is also in the pudding, so if there are some actual returns available, perhaps it would lead more credence to his analysis, if that is what one is looking for.


I don't believe he post his own returns. He does mark where HE would set his stop loss on a trade, and he usually does that on his videos. To be fair his trading is not for TSP, but rather stocks, but TSP investors can learn a lot about chart analysis by listening to him. Based on expereience, I would have to say he does a good job of telling you when he sees a potential reversal, and where HE would set his stops. He is trading his own account and is letting the rest of us come along for the ride.

His goal is more educational at this point.

The reason I wanted to do this interview because he is by all defenitions a "professional stock trader" and so I thought his perspective might be useful to others. Wall Street is not very accessible to the average Joe and Jill like our members, so I thought his perspective would be interesting.

As far as his retirement goes, I did not want to start digging into his personal life, as I felt it was not relevant. I am greatful for the service he provides and hope he doesn't retire for a long, long time..............


AND, I had posted on the site for 4 or 5 days that I was doing the interview and asked members to submit any questions they wanted to ask.

I really do hope everyone enjoys what he says in this brief interview.

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MLKMAN
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Re: TSPCenter Interview with PerfectStockAlert.com

Post by MLKMAN »

Jahbulon wrote:
I don't believe he post his own returns. He does mark where HE would set his stop loss on a trade, and he usually does that on his videos. To be fair his trading is not for TSP, but rather stocks, but TSP investors can learn a lot about chart analysis by listening to him. Based on expereience, I would have to say he does a good job of telling you when he sees a potential reversal, and where HE would set his stops. He is trading his own account and is letting the rest of us come along for the ride.

His goal is more educational at this point.

The reason I wanted to do this interview because he is by all defenitions a "professional stock trader" and so I thought his perspective might be useful to others. Wall Street is not very accessible to the average Joe and Jill like our members, so I thought his perspective would be interesting.

As far as his retirement goes, I did not want to start digging into his personal life, as I felt it was not relevant. I am greatful for the service he provides and hope he doesn't retire for a long, long time..............


AND, I had posted on the site for 4 or 5 days that I was doing the interview and asked members to submit any questions they wanted to ask.

I really do hope everyone enjoys what he says in this brief interview.


Thanks for the feedback. :)
"We are all faced with a series of great opportunities brilliantly disguised as impossible situations."

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GT-NMSU
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Re: TSPCenter Interview with PerfectStockAlert.com

Post by GT-NMSU »

Great interview Jahby!

I think some follow up on Skie's questions would benefit all of us. PSA may not be familiar with the TSP way of trading and maybe some insight into our system would benefit him in future videos/interviews. I wonder if he would recommend, invest only up to the match in TSP (5% for FERS) and have an IRA outside (which gives the trader more flexability)? I also wonder what his thoughts are on Roth vs. Traditional?

skiehawk11
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Re: TSPCenter Interview with PerfectStockAlert.com

Post by skiehawk11 »

SkieS&RSys: Since the TSP allows essentially one trade a month into equities, what should the periods be on trending, momentum/leading, volatility, and money flow indicators?

PSA: I don’t understand this question.


I'll try to clarify this. Technical indicators can have a lot of noise. As such, there should be a range to filter out a lot of the noise and have signals for larger moves.

For instance, is employing a range of 4,8,16 on a daily beneficial to a monthly strategy or would it be wiser to employ a 4,8,16 range on a weekly interval chart?

This is off topic, but I would like his opinion on it. The UO is a great indicator as he pointed out since it measures over 3 different ranges. Has he ever modified it to expand on that idea?

I did a 1, 5, 21, 50, 150 modified UO. Essentially you re-adjust the weights of the buying pressure/true range averages. In this regard, we can measure over an increase in ranges. What are his thoughts of modifying existing indicators?

hugehail
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Re: TSPCenter Interview with PerfectStockAlert.com

Post by hugehail »

Maybe I should accept J-s-s into my heart and then I would be a great trader! :)
On a serious note, I really appreciate Patrick's service. Ive learned a great deal in a short
time just from him.


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Scarfinger
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Re: TSPCenter Interview with PerfectStockAlert.com

Post by Scarfinger »

I read the whole interview and I thoroughly enjoyed it.
I am just an average Joe. I have no clue to what the market will do.
TimboSlice wrote: "People really need to stop overthinking this."
Paul Merriman 2 fund strat: (age - 25) x2.5 = TDF + balance into S fund or variation of

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inla$vega$
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Re: TSPCenter Interview with PerfectStockAlert.com

Post by inla$vega$ »

Thank you very much for the very informative interview. Thank PSA also.

Question related to a "set of trading rules" as referenced in the following Q/A. Can you provide a reference source or a couple/few examples?

"PSA: No. Anyone can develop into a good trader, but it will not happen in ten minutes, and not everyone is willing to follow a set of trading rules.

TSPC: Not a follow up question, but rather my own observation. I find that the actual following of the trading rules is the hardest part because once people get into a trade their emotions run wild. I am quick to close a losing trade, but I still have a hard time with letting my winners run.

PSA: That is a very good observation, and that is why it is so important to follow the rules. Your rules should tell you when to avoid a trade, when to enter a trade, and when to exit a trade. Without rules you’re running on emotion."

Jerome
Posts: 37
Joined: Fri Sep 14, 2012 6:42 pm

Re: TSPCenter Interview with PerfectStockAlert.com

Post by Jerome »

Thanks for the interview, it was very good.

It appears that he may be more successful as a free sight (i.e., Google, Facebook). It also appears that he genuinely wants to help new traders. I hope he succeeds.

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Jahbulon
Posts: 3901
Joined: Wed Nov 17, 2010 1:22 pm

Re: TSPCenter Interview with PerfectStockAlert.com

Post by Jahbulon »

Question related to a "set of trading rules" as referenced in the following Q/A. Can you provide a reference source or a couple/few examples?


He didn't specifically lay out his own personal trading rules, but he does cover most of them when he covers the charts. If you listened tonight he told you what would trigger his short trade tomorrow, and he showed you where to set your stop loss. Does this help? I know it sounds confusing, but each trader usually develops his/her own over time. The only thing PSA is not telling you is how he is placing his bet (stocks, options: puts/calls, inverse leveraged ETFs), but he is telling you he will bet for or against that index, which leaves you the option to trade it the way you want.

To initiate a trade some traders use breakouts, some use reversal, moving average crossovers, etc........

Rules will range from everything to amount you bet on the trade, risk controls, etc.......

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Tomanyiron
Posts: 4973
Joined: Mon Apr 26, 2010 6:39 am

Re: TSPCenter Interview with PerfectStockAlert.com

Post by Tomanyiron »

Thanks Jahbulon, I don’t know what we would do without you.

Milkman, I think this is what got your dander up, “In reality, if a trader takes the time to watch every technical analysis tutorial video on our free website, that trader is going to know more about trading than most traders running subscription based services”. But, Milkman, I do agree with your, “proof is in the pudding”, comment. So if there are some folks actually following him every day, and making IFTs, based on his analysis, it would be interesting to see your returns.
"A good decision is based on knowledge and not on numbers." Plato
"Perfect numbers like perfect men are very rare." Rene Descartes

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