On the 10th of December we posted on this blog about the "silly season" and what it means to the markets and to traders. We also put up a poll asking the following question:How will you be spending this "silly season"?
- Other - Please tell us in the comments (3%, 21 Votes)
- Trading like any other day (27%, 212 Votes)
- Re-evaluating my trading plan and getting ready for Q1 (51%, 395 Votes)
- Taking a break or vacation (31%, 236 Votes)
I'm happy to say we had over 700 votes and lots of comments. It was gratifying to see that 51% of the folks elected to spend time on the sidelines and enjoy life during this time.
So here we are, on the eve of "silly season" as it starts officially on December 15th and I'm happy to report that I am out of all my positions. I'm looking forward to enjoying our office Christmas party tomorrow and look forward to seeing friends and family over the holidays.
Now of course that doesn't mean we're closing down the shop for the holidays. In fact, we will for the most part all be here working on projects. We have a lot of very exciting new projects that we are working on that we will be introducing very soon to you. I know that you will appreciate what is coming down the pipe and will find these tools and educational elements extremely useful in your trading.
It is not too late to vote in our poll, or to read what the "silly season" means to me personally and also a lot of other traders.
You might also want to take a look at my 5 Key Recommendations during the "Silly Season" and find out how you can utilize one or all in your own way.
So let "silly season" begin and let's enjoy everything we have in life.
All the best to everyone,
Adam
Adam Hewison
President of INO.com
Kris,
You have summed-up the fundamental mistakes made by all unsuccessful traders. These mistakes are repeated over and over again. Another mistake is over-trading which can wipe out an account regardless of it's size.
The trick is to religiously avoid these mistakes for long-term success.
Adam, You are ducking the question.
I think that a normal correction is on the cards in major indices. But nothing drastic. This is my reading of the charts. When the market retreats to 100 day EMA, it should be viewed as a buying opportunity for long-term traders.
Ashfaq,
Not sure which question you are referring to.
I'm going to wait for our Trade Triangle technology to kick in before we try to figure out if and when a correction is going to happen. I don't necessarily disagree with what you're saying, I just want to see a little more evidence that it is going to occur.
All the best,
Adam
Tell me when does the silly season end ?
Michael,
There is no exact date but a good rule of thumb is to let the first week of January pass before getting back into the market. The reason for this is that most traders are away for New Years and only begin to return back and begin looking at the market when they see liquidity coming back into their respective markets.
All the best in 2011.
Adam
Last year, about this time, you stated that additional watch lists would be available this year.
Alvin,
It has taken way longer than I expected but bear with us as we are in the final testing phase and expect to roll the new portfolio manager out before the holidays.
I think you are going to like what you see.
Adam
Hi Adam,
This is the first time I am writing to you. I tumbled into one of your video presentations and since then I am eagerly watching and reading all your blog posts. I started my trading a couple of years back and I met with more losses than gains. Then I stopped all my trading and started to learn all the basics and the technicalities of trading. This year I started my trading again and was very happy as I had 80% successful trading against 20% losses. My confidence boosted and I thought I know too much and you will not believe it I had my life time's lesson (like your first wheat trading). Starting Dec 1 to Dec 10th I lost almost all what I gained during the whole year in just a few trades. ( I did not respect the stop loss and I was too greedy to get out of the trade in time). I learned the lesson in the most hard way, that every single trade should be treated with the same approach as that is the first trade and never get into over confidence and greedy.
Thanykou adam for all your ideas. I will soon becoming a member of market club and start my trade fresh in 2011.
Merry christmas and happy new year.
Out of all positions.
I plan to re-evaluate my trading plan and take a vacation
John,
Good for you and every success in 2011.
Adam
Hola Adam, se que te gusta viajar. espero tambien te guste aprender idiomas extranjeros. por eso te escribo en español. para que tengas oportunidad de aprender algo que yo te puedo enseñar. de la misma manera que tu has sido de ayuda para mi aprendizaje de los mercados.
eres un hombre bueno y generoso. dios te bendiga por eso.
dicen que el conocimiento que no se comparte, sirve lo mismo que el oro enterrado.
Feliz navidad y prospero año nuevo.
p.d. si te disgusta que te escriba en español. lo puedo intentar en ingles.
Julio,
Gracias por tus comentarios.
Cada éxito en 2011.
Todo lo mejor,
Adán
Hi Adam, I know you love to travel. I hope you also like to learn foreign languages. why I write in Spanish. so you have a chance to learn something that I can teach. in the same way that you have been helpful to my learning of the markets.
If you are a good and generous. God bless you for that.
say that knowledge is not shared, it serves as well as buried gold.
Merry Christmas and Happy New Year.
P. S. if you dislike that I write in Spanish. I can try it in English.
Hello Market Club and Ino.com team !! :-))
Greetings from the South of France. :-))
Just wanted to thank everyone for the great job done in 2010. It is a pleasure to trade with Market Club, I would simply not trade without it ... but above the tool itself, YOU (the team) are what makes Market Club what it is ... So thanks again, from the bottom of my heart. :-))
Enjoy the holidays and have a great time with your families.
I will be spending 10 days in Senegal, water skiing and spending time with friends and family as well.
Cheers,
Loic
So, does that mean you think there's a higher chance of a downturn than a Santa Rally then for the rest of December?
Steve,
That is a question I will leave to the market to decide.
All the best,
Adam