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Intro To Commodity Trading

commodity_trading

This course is a broad overview and discussion of the salient subject areas that one will need to navigate to fully understand the commodity space.

  • Entering Orders
  • Common Mistakes
  • Rules and regulations
  • Markets and Exchanges
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Fundamental Analysis

fundamental_analysis

Students will be introduced to what makes each of the commodity sectors tick from an international economic standpoint.

  • Grains - corn, wheat, rice
  • Metals - gold, silver, copper
  • Energies - crude oil, gas
  • Softs - coffee, sugar, cocoa
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Technical
Analysis

technical_analysis

This course sets the record straight about what is a predictive indicator and what is a lagging indicator in the commodity markets.

  • Studies in Price
  • Volume & Open Interest
  • Technical Indicators
  • Markets in Backwardation
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Trading
Psychology

trading_psyc

This course investigates why certain traders become great and why others blow up. Be prepared to journal extensively and learn about your strengths and weaknesses.

  • What You've Learned About Money
  • How Personality Shows Up in Trading
  • Ego and Self-Esteem in Trading
  • Self-Awareness
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Archive for June, 2009

Bill Dunn, Part 2

June 30 2009 | 10:48 pm UTC

The famous shot of Paul Tudor Jones in his office mentioned in Part 2. Notice the sign behind him, “losers average losers.” It means, Losers (unsuccessful traders) average “down” their losing trades by buying more of something they already own at a higher price, thus, creating a lower average cost. It is a quick way to lose a lot of money. A Trend Follower (would leave his/her ego out of it), admit they’re wrong, and get out – thereby minimizing losses. Tudor Jones is Founder of Robin Hood Foundation.

Losers Average Losers

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Barry Ritholtz Podcast Interview

June 26 2009 | 1:39 am UTC
Barry Ritholtz

Barry Ritholtz

Barry is a trader. He speaks like a trader. He’s flexible, affable, and no-nonsense. He speaks with 100% candor which is refreshing, and also shows IMHO that he has a lot of integrity.

Links to Barry’s sites:

Bailout Nation Book Website

FusionIQ Analytics

The Big Picture Blog

Barry and I appear briefly in a new documentary film to be released in the next week or so. Sign up for email updates to get more information about the movie and its release.

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Follow an Oracle At Your Own Peril

June 21 2009 | 9:58 pm UTC

According to Newsweek, Canadian economist Jeff Rubin “has a somewhat oracular reputation.” Oracular – in this context, means that you have to sit up straight and listen closely to what Rubin has to say.

Since 2000, he has predicted a massive oil-price spike, and he was among the first in 2007 to prophesy that oil would soar over $100 per barrel (a few months later, he said $150 a barrel and was basically proved right again). Now, even though oil has dropped considerably from its peak, Rubin warns that it’s bound to skyrocket once more and cause another, even greater economic crisis.

Elaine Garzarelli predicted the crash in ’87 and was touted as a guru. She hasn’t predicted much since, and when she did, she was wrong.

Marty Zweig made such predictions about the ’87 crash also. He was a bear throughout the raging bull market of the 90s as the market was going parabolic. In fairness, he got ripped off. He wasn’t right even under the “broken clock is right twice a day” manner.

Warren Buffett can’t trade to save his ass, but he’s sure as hell rich – and oracular. Luck has been his dance partner more times than his prescience, yet everyone still wants to believe there is a guru. He’s lost on currency, commodity, and stock index trades. He talks out of both sides of his mouth about OTC derivatives, yet the “faithful” only hear what they want to hear.

Which brings me back to Rubin. If you’re of the faithful in this case, trade with protective stops. Be proactive and trade in and out of risk. Don’t let some alleged oracle’s headlines or sound bites determine your risk management system.

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Dirty Rat Gamblers!

June 17 2009 | 5:52 pm UTC

Seems a group of scientists have figured out what the casinos in AC and Vegas have known all along:

“Not only have we seen that our rats will gamble, but we’ve also been able to modulate that behaviour,” lead author Catharine Winstanley from the University of British Columbia told BBC News.

You can read a great scientific study on human behaviour by Jonah Lehrer called How We Decide. Probably the best book I’ve read since Market Wizards.

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