I'm really liking Todd H's daily reports over at Minyanville. His style takes some time getting used to, and at first I didn't like it. But I think short term traders can learn a lot from the information and thought process that he discusses. As for when he goes paid, I think at $10 it's a steal compared to the system hucksters charging $1000's. The trouble is that with them, they'll try and sell you the fact that you can almost sit back and count the money (like those adds with the dude sitting by the pool trading on his laptop). But with Todd you're going to have to get your hands dirty and your brain working.
For 10 dollars and his insight and perspective on things it is a bargain. He has expanded my little brain on the world of trading.
I have been piggying my trades with his conviction levels using dia and qqq and tight stops and it had worked out really well. Stop reading RM since I could not profit a dime from there. It was a great site to learn about the market though. good luck to all u traders out there.
le 140, How do you go about translating a "25% bearish" conviction level into a trade? I think toddo is good for getting a flavor of the market, not so useful for individual trades. I continue to believe he will have to alter his approach significantly to make his site a go but apparently lots of people are signing up. For me the best things he could do would be : 1) start detailing individual trades like he did on RM, 2) give some idea of what his portfolio looks like, 3) cut back on the excessive wordiness, 4) ditch tony dwyer who is useless, and 5) do whatever it takes to get Jeff Cooper. I think he has a chance to make his site a big success because people seem to like him and the competition is self-destructing. I mean, who is going to reup their sub at Trading Markets?
While I cannot say I follow Todd completely. But when he is leaning one way and I am trading in the other, I definitely sit back and carefully rethink my position.
AAA, I dont short or long the dia/qqq when he is at 50% conviction level. And even then I would only use 1/3 of my account. He mentioned where he would stop out one/two leg on the spider so i am also keying in on those levels to stop me out. I would really pay attention to him when he is at 75% conviction level. Most of the time, the market would follow his calls. Then I use that info to lean more on my day trades shorts or longs depends on which side of the market Todd is on. If he is really bearish, I would look more on the short side and vice versa. The last few calls of his were dead on. I dont think as a day trader i would be able to call it like he can when his sources are able to tell him there are people buying 250,000 puts or calls at a clip. So I should put that info to good use good luck,
every post todd made today his disclainer says no positions. i wonder if he is even trading right now.
I think he is setting up his new fund and has not started trading it yet. I agree he is a good indicator of when to be cautious and when to go for it. I find the 50 % Boo stuff a little frustrating because we don't really know what that means. Does 50 % Boo mean everything is hedged or is it half your max short position or is it just a way of saying I'm -2 on a scale of +4 to -4?
Can someone please explain what the heck he means by stuff like "respect price, but don't defer to it" ?!?! Also, any paying members of RM/Pro read anything on the site re Toddo's new venture? Did he leave on good or bad terms? Any gossip?!