19 thoughts on “The MarketClub Minute - Lesson 2

  1. audio is left side only. so you may need to check your connections if using outboard speakers or your Sound setting if not.

  2. Well said, Adam, short and to the point. I could write a book on all the trading mistakes I've made since i started trading actively last July. Before that time, I had just bought and held mutual funds long term, but when I began to see the handwriting on the wall, I knew I had to learn to trade on my own.

    I really staggered at first, as I went short just when the market turned up in mid-July. I muddled along thru August and early September, then made a killing on some Lehman puts. Then later I had some other long options positions (puts)that had huge gains by October--account was nearly doubled in less than a month. But I blew it by not closing them soon enough, and frittered away much of the profits. I then kept sticking with long option positions as volatility dried up, and lost even more. So it was a two-headed problem--poor money management and sticking with the same strategy when conditions changed.

    So there are several issues that can affect your trading success, and you correctly pointed out that determining your trading style is one of the key points. As you can see, I changed my style at about the right time to avoid the stock blowout, but then did not change fast enough when conditions changed again. So it's not only a question of long term vs. intermediate term vs. long term, but also what classes of assets to trade and how confident you are of making directional market plays.

  3. When I play the YouTube Videos, the audio is ok , but when I play Adam's Video NO AUDIO,

    Therefore is only logical that there must be something wrong with Adam's.

    This is the second and last time I try. Will have to disconnect from this forum.

  4. I noticed that the pain of my previous losses kicks me out of the position more often than I was really stopped out. I felt almost like Odysseus when he listened to the Sirens' songs: wanted to tie my hands to the chair. I started to use the money management and leave small portion of the position to let it either ride to the profit target or be stopped out.

  5. audio is okay here. I think that knowing what kind of trader you are is the most important part of trading after understanding risk. This is very sage advise- if you are finding your method very hard and stressful than I would suggest changing time frames and per trade goals- you will probably find that perfect balance after some experimenting.

  6. Adam
    I enjoy your Marketclub Minute videos as well as all other videos that shares your experience and trader wisdom. I sometimes struggle with my trading personality. I see myself more as an short to intermediate trader but get the urge to sell when the market takes sudden unexpected turns and I see my P/L taking a hit. But I am learning to discipline my "urges" by focusing on the M/W Trade Triangles. So far so good but still a struggle. Thanks!

    1. John,

      Thanks for your feedback.

      Don't give up you are almost there. Soon you'll be looking back and seeing how far you have come.


    2. I too am struggling in a similar way. I use trailing/limit stops and am getting stopped out before the sell signal is triggered. How do you suggest protecting from loss? Should I put in only an initial stop loss and sell after the sell signal?

      1. Ash,

        I'm not sure I understand all of your question. If you are using the stops to protect capital or to lock in profits then you're doing the right thing. If you're using stops to stop yourself into a market after a signal then you are doing the right thing.

        Sometimes the markets are frustrating and that is why we recommend diversifying your trading. This not only lowers your risk it also allows you to sleep better at night.

        I hope this is the answer that you are looking for.


  7. hey Adam - your charts are really great - lots of tools and to the point. Where do I find Lesson 1 if this was Lesson 2 ?

  8. Adam,
    I just love your timely thoughts on a whole range of subjects involving trading.....I look upon you as a mentor and take notice of the important points you make. I also regard Market Club as the leading indicator of just what is happening in the world of trading - in particular from oil to gold to Indicies and the list goes on.
    Just wouldn't be so, without your being there.
    Love the new Charts and the many improvements your team have developed for your customers.

  9. Know Thyself! Nobody presents the greater danger to the trader as oneself. Fellow readers, let's share on that thread our ideas of how to fight fear, greed and ego while trading.

  10. Adam,

    for some reason the volume doesnt work on these short videos.

    I have checked my computer and there is no problems. Can it be on your side?



    1. Nick,

      Volume and sound works on our end both in and out of the office.

      Try cranking up the volume that will probably do the trick.



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