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Welcome to Jim's Blog. Jim Prince is a 20-year veteran of the markets and the chief educator for The United States Chart Company and The Greatest Business on Earth - an educational and support site for commodity futures and option traders. Please visit gbemembers.com for information on our ongoing programs.
You may remember a post I made a couple of weeks back about the new English Bulldog puppy that joined our family.
He's now about 10 weeks old and is quite a character. He has a great personality and loves to play with our Aussie Shepard (who's less than 2yrs old). Anyway, while they play the Bulldog puppy makes the funniest and weirdest sounds you'll hear. In fact, they don't even sound real. They sound more like they should come from a "squeaky toy!"
The other day my daughter happened to record one of the funny sounds he makes. You can listen to it by clicking the play button on the player below. (It lasts about 3 seconds).
Yes, that really is a sound from the puppy!
Quote of the Day
December 31, 2009 7:43am
Self-image sets the boundaries of individual accomplishment.
Maxwell Maltz
Quote of the Day
December 30, 2009 9:25am
What we think determines what happens to us, so if we want to change our lives, we need to stretch our minds.
Wayne Dyer
Here's My New Year's Gift to You:
December 29, 2009 6:16pm
Here's My New Year's Gift to You:
Dear Member of the US Charts Family,
When the clock strikes midnight on New Year's Eve, we'll be off and running toward a whole new year of market opportunities.
I've been studying my charts, and in my opinion there are six different markets that have exceptional potential. These markets could be among the big movers in the coming year.
I've produced a series of online videos that summarize each of these markets and their future outlook. There are approximately 40 minutes of videos altogether, and I'm giving them to you free so that you'll have a leg up on planning your trades.
Consider it my New Year's gift to you.
Just use this link to download your videos right now:
Enjoy these videos now, and I look forward to sharing developments in these markets with you as 2010 progresses.
Best wishes for a prosperous New Year!
Happy trading,
Jim Prince
Quote of the Day
December 29, 2009 9:27am
Cherish your visions and your dreams as they are the children of your soul, the blueprints of your ultimate achievements.
Napoleon Hill
Quote of the Day
December 28, 2009 9:34am
Opportunities multiply as they are seized.
Sun Tzu
Positive Energy
December 27, 2009 1:01pm
“Whatever The Mind Of Man Can Conceive And Believe It Can Achieve!”
At the beginning of each year (and actually several times throughout the year) I like to sit down with pen and paper and review exactly what I want and how I plan to get it.
I do this from both a personal and trading standpoint. I feel there is actually nothing more powerful than setting goals and achieving them. On a personal note, I’ve had some extraordinary things occur in my life and I believe it is due to the fact that I’ve set goals and used a lot of positive energy to reach the blessings I have.
I would like to use the rest of this article and empower you to work similar successes in your personal and trading life.
I’ll provide you with a few blocks to build upon but ultimately it will be up to you to implement what you learn here.
Getting Started…
Napoleon Hill is my favorite motivational author and I think that his famed classic Think And Grow Rich is just as powerful today as it was when it was originally written.
This literary treasure is a must read for all who strive to better themselves. If you don’t have a copy be sure to get yours from our office (click here for more information). It runs about eight dollars and will definitely be the best eight bucks you’ve ever spent.
I recommend this book as the first stepping stone in self improvement. To quote a sentence on the cover: This book could be worth a million dollars to you. However, I believe it can be worth a lot more, not just from a monetary standpoint, but from the betterment of relationships and personal development. There is no ceiling on what you can do — if you know how to go after it!
I’ll get back to Think And Grow Rich in a couple of minutes but for now I’d like get on my soapbox. If you’re at all like me, then you’re sick and tired of negativity and cynicism. It’s everywhere you look — the newspapers, the Internet, and television are full of it. Heck, it’s no wonder so many are "depressed" and most individuals lack confidence in their abilities or don’t ever dream of doing something great.
When you really think about it, are you surprised that with the constant bombardment of negative messages that you haven’t reached the life-style that you desire?
Personally I find it a constant challenge to “get one up” on the negatives. But with the right tools I believe that you can improve yourself and reach any and all financial dreams you’ve ever had. I believe you can boost your self-esteem as well as enhance your mental strength, which you can use to attack all areas of your life.
Positive energy, discipline,and determination are the keys to success in virtually every area of life. Without them we are destined to failure.
Over the years, I have carefully studied the patterns of those who have been successful and reached their goals in their personal lives, their trading, and their businesses. Virtually all of these individuals were lucky enough to have their desire to succeed fueled with positive reinforcement.
I once read that the best way to get what you want is to help others get what they want. I believe this wholeheartedly. If you want to receive positive energy you have to give positive energy!
Maintaining a positive attitude and getting rid of negativity are vitally important — more so than you might realize. I believe that success in any endeavor is boiled down to attitude. Nothing can hurt you more than negative energy. If you dwell on negative things you’ll get negative vibes in virtually all areas of your life. On the other side of the coin, nothing can help your attitude and success more than positive energy. Optimism and confidence lead to success; cynicism and negativity, will always lead to failure. It is as simple as that.
How Get Positive Energy
Think And Grow Rich is your first step to acquiring positive energy. This is a dynamic book containing 252 pages of secrets that can change your life! Included are dozens of “mental exercises” to help you generate positive energy and get what you really want out of life.
To help you get started I’ve listed six definite, practical steps to follow in order to transform your desire into goals and ultimately what you want.
1.) Fix in your mind the exact desire (goal) you wish to obtain (amount of money, number of successful trades per day, week, month, year, improved personal relationships, etc.)
2.) Determine exactly what you intend to give in return for reaching your goals.
3.) Establish a definite date by which you intend to possess what you desire.
4.) Create a definite plan for carrying out your desire, and begin at once — whether you are ready or not — to put this plan into action. Be a doer and take action!
5.) Write out clearly and concisely all of the information in Steps 1 - 4 above.
6.) Read your statement aloud at least twice daily and, as you read your statement, see, feel, and believe yourself already in possession of what you desire! (A couple of good places to post your statement so you see it often is on the bathroom mirror or refrigerator.)
To reiterate, complete the six steps above, get a copy of Think And Grow Rich and then read it — at least three times. Do the exercises, and watch how dramatically your life changes. You’ll reach your goals and have an abundance of positive energy!
I wish you and your trading the best in 2010!
Happy Holidays!
December 26, 2009 2:31pm
I hope you have had a great holiday season this year.
As we get closer to the new year I have a couple of trading "things" for you to keep in mind.
First of all, take a look at the screen shot below. It's of various markets and their Trend Seeker(tm) Trend Ratings. The point I want to make with this picture is that there are several markets that have been in trends for two weeks or longer.
And many of these have established chart patterns. So it's your job as a trader to keep your eye on these markets and watch for opportunties. I will help via the Premium Alert Service nightly videos, as well as via the notes on the various charts in Jim's Chart Book.
Special Announcement
The other thing I want you to keep an eye out for is my upcoming Special Announcement. This announcement is for something I've put together just for you and the new trading year. I won't say any more about it here right now, but I encourage you to watch your email box. Sometime during the middle of this coming week I will send you an email letting you know the details as to what this is all about.
Finally, I should point out that this special announcement identifies a free gift I've put together for you that could really help your trading during 2010. So be on the lookout!
NOTE: The information contained in Jim's blog is for educational purposes. Market conditions and commodity and option prices constantly change. Being a successful PAPER TRADER during one time period does not mean that you will make money when you actually invest during a later period. Past Results are not necessarily indicative of Future Results. Trading commodity futures or options involves substantial risk of loss. Your trading decisions should be based on your own particular financial circumstances and trading objectives.
Under no circumstances does the information in this content represent a recommendation to buy or sell any security mentioned. All examples are provided for educational purposes only.
Please read the following risk disclosure statement:
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Merry Christmas!
December 24, 2009 1:03pm
I want to wish you and your family a very Merry Christmas! In my opinion this is one of the best "family" times of the year. So enjoy it for all you can, and remember the reason for the season!
YIKES!
December 24, 2009 12:49pm
Looks like Bernie Madoff got (what some would say was) an early Christmas present. . .
Yikes! Who would beat on a 71 year old man? Guess he ticked off too many of the wrong people.
Quote of the Day
December 24, 2009 7:40am
It's not the events of our lives that shape us, but our beliefs as to what those events mean.
Tony Robbins
Lackluster Holiday Price Action
December 23, 2009 3:31pm
I want to point out something that I'm sure a lot of traders, especially those just getting started in the business, may not have thought about. And that is the irregularities in price action during the Christmas holiday season.
Generally speaking the volume/open interest in the markets dwindles considerably during the week of Christmas and the week of New Years. Why is this important to know? Because you'll often find it difficult to get good fills on orders -- in other words get the price you want. And many times the formations we trade will not have good follow through. In fact, the formations can be quite erratic.
In fact, take a look at the last couple of days price action in March 2010 Sugar and March 2010 Orange Juice to see a couple of examples of what I mean.
That said, I like to mention to folks at the Trading Camps that it's often a good idea to take a step back during this holiday stretch because of these irregularities. I'm not saying to close out existing positions by any means, rather simply consider what I've said if you're contemplating any new positions.
It could mean the difference between a winning or losing trade!
Good Ole' Christmas Shows
December 23, 2009 3:22pm
Here are a couple of Christmas goodies from TV shows I always enjoyed
during my childhood. Ah, good memories. . .
Quote of the Day
December 23, 2009 9:35am
Before everything else, getting ready is the secret of success.
Henry Ford
Quote of the Day
December 22, 2009 9:51am
You were born to win, but to be a winner, you must plan to win, prepare to win, and expect to win.
Zig Ziglar
Quote of the Day
December 21, 2009 10:35am
An attitude of gratitude creates blessings. Help yourself by helping others. You have the most powerful weapons on earth. . . love and prayer.
John Templeton
Quote of the Day
December 18, 2009 8:15am
The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.
Jesse Livermore
Red Day
December 17, 2009 11:23am
The U.S. Dollar Index rallies and the majority of other markets tank. . .
Quote of the Day
December 17, 2009 11:15am
What I know is, is that if you do work that you love, and the work fulfills you, the rest will come.
Oprah Winfrey
FOMC
December 16, 2009 9:26am
Just a reminder that the Federal Open Market Committee, better known as the FOMC, will announce its policy statement on today at 11:15am PT. The focus of the announcement will be whether or not they'll raise, cut or keep interest rates the same.
Be aware that this is a day when, regardless of the actual meeting language, the announcement usually brings a lot of volatility to the markets.
The markets most affected are the stock indices, metals, financials, currencies and to some degree the energies.
Keep in mind that I mention this strictly because of the volatility. I'm not saying the announcement means you should begin trading the markets listed above. Rather I'm pointing out something that tends to move the markets and this could be a plus or a minus if you're already holding positions in these markets.
As always, the bottom line is protect your positions!
Quote of the Day
December 16, 2009 9:23am
Aim for the moon. If you miss, you may hit a star.
W. Clement Stone
Currencies
December 15, 2009 11:52am
A couple of the Currencies are breaking out to the downside of their respective channels.
NOTE: The information contained in Jim's blog is for educational purposes. Market conditions and commodity and option prices constantly change. Being a successful PAPER TRADER during one time period does not mean that you will make money when you actually invest during a later period. Past Results are not necessarily indicative of Future Results. Trading commodity futures or options involves substantial risk of loss. Your trading decisions should be based on your own particular financial circumstances and trading objectives.
Under no circumstances does the information in this content represent a recommendation to buy or sell any security mentioned. All examples are provided for educational purposes only.
Please read the following risk disclosure statement:
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Quote of the Day
December 15, 2009 9:31am
A goal is a dream with a deadline.
Napoleon Hill
Bullish
December 14, 2009 10:04am
We had a new member join our household on Sunday. This little guy is a little over 8 weeks old and is a real sweatheart.
His name is Tug, and he is an English Bulldog. As he gets older my daughter will be showing him in the appropriate shows.
This is our second go round with a bulldog. Our first bulldog, Taz, had health problems and died in surgery when he was just two years old. That was two years ago.
My daughter has already taken to this little guy and so has our Aussie Shepard. The Aussie thinks this bulldog is a "new toy" and can't play with him enough. It's pretty cute watching them together.
Quote of the Day
December 14, 2009 9:57am
A successful life is one that is lived through understanding and pursuing one's own path, not chasing after the dreams of others.
Chin-Ning Chu
Quote of the Day
December 11, 2009 1:03pm
Keep your face to the sunshine and you cannot see a shadow.
Helen Keller
Quote of the Day
December 10, 2009 11:57am
There is an immutable conflict at work in life and in business, a constant battle between peace and chaos. Neither can be mastered, but both can be influenced. How you go about that is the key to success.
Philip Knight
Thank You!
December 9, 2009 8:57am
I want to thank each of you for attending last night's chat. We had a very nice turn out for our holiday season chat.
I think the new software and format is the way to go. And from this point forward it's exactly how we'll do things.
Thanks again and I look forward to you joining me on Tuesday, January 12 for my next chat.
Quote of the Day
December 9, 2009 8:48am
A goal is a dream with a deadline.
Napoleon Hill
Chat Tonight!
December 8, 2009 10:45am
My Next Free Monthly Online Chat is Tonight at 6:00 PM Pacific Time!
Stop on by and ask me your questions and receive tips and insight from both me and your fellow GBE Course Members! Learn how other students are using The Greatest Business on Earth!
During this month's chat I'll be using software that allows you to see my computer desktop and hear me answer questions. So please join me tonight at 6:00pm PT.
The "self-image" is the key to human personality and human behavior. . .
Maxwell Maltz
Friday Night Lights
December 7, 2009 8:55pm
There are a handful of TV shows that I enjoy. One of them is Friday Night Lights. In my opinion this is one of the best shows on television.
Originally it aired on NBC. But the decision makers at NBC made the wisest of decisions a couple of years ago to cancel the show. So Direct TV actually picked it up and aired it on one of their own channels last year.
Because it was such a hit, NBC then brought it back and aired it after the first of the year 2009. Anyway, if you have DirecTV you might want to check out this show. The acting is fantastic and the story lines are excellent.
NOTE: The information contained in Jim's blog is for educational purposes. Market conditions and commodity and option prices constantly change. Being a successful PAPER TRADER during one time period does not mean that you will make money when you actually invest during a later period. Past Results are not necessarily indicative of Future Results. Trading commodity futures or options involves substantial risk of loss. Your trading decisions should be based on your own particular financial circumstances and trading objectives.
Please read the following risk disclosure statement:
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Quote of the Day
December 7, 2009 7:39am
Satisfaction does not come with achievement, but with effort. Full effort is full victory.
Mahatma Gandhi
Hoarders
December 6, 2009 8:33pm
The A&E TV Network airs a fascinating TV show called Hoarders. It's about people that are compulsive hoarders. This is a mental disorder in which the person has an obesessive need to aqcquire and keep things, even if the items are worthless, hazadorous or unsanitary.
The introduction to the show states that as many as 3 to 6 million people are compulsive hoarders.
If you haven't seen the show yet, you might want to watch at least one episode. I've found it very interesting.
New Trading Tool
December 6, 2009 8:01pm
One consistant action that most traders take is they fail to produce an actual plan of action for each trade they make.
I'm continually amazed by the number of folks that will ask me what they should do with "such and such position" during my Monthly Internet chats or in person at the Trading Camps. When I'm asked this the first thing that comes to mind is that these folks do not have a plan! In other words, they've basically entered the market on hope -- hoping they make money -- but with no real idea as to how they will take a profit.
Thus, the reason for the development of our newest trading tool at US Charts Online.
Be sure to check out this week's Training Video for an introduction to what I feel is a fantastic tool -- and it's free for all US Charts Online subscribers!
Upcoming Chat. . .
December 6, 2009 6:08pm
My Next Free Monthly Online Chat is Tuesday night, December 8 at 6:00 PM Pacific Time!
Stop on by and ask me your questions and receive tips and insight from both me and your fellow GBE Course Members! Learn how other students are using The Greatest Business on Earth!
During this month's chat I'll be using software that allows you to see my computer desktop and hear me answer questions. So please join me Tuesday night, December 8 at 6:00pm PT.
I'm here at my home in Southern Oregon today and it's 30 degrees and snowing. The white flakes have been falling for about an hour and a half now. Not much is sticking, but it surely does remind us that winter is here!
Mud Slide
December 5, 2009 7:25pm
On Tuesday, Dec. 1 I mentioned on the Premium Alerts Service video that I was "stuck" at home because of a mud slide on the main road to town from my home.
Turns out I happened to be the first one to report the slide to the sheriffs department on Tuesday, so I'm thinking it probably didn't happen much before I came upon it.
Anyway, because it was dark and I couldn't see really well, and I wanted to get the heck away from all the debri, I was under the impression that it was a mud slide. Turns out it was a rock slide that came from some of the rocks that make up the face of the cliff above.
Turns out the local paper, the Daily Courier, reported that it was a 65-foot-long pile of rock estimated to be about 300 to 350 cubic yards of rock, which fell off of the cliff 75 feet above!
According to the county public works department that amount of rock equals about 30 dump truck loads of material!
Anyway, below are a couple of pictures of the debri. Thank goodness no one was hurt.
A Golden Shellacking
December 4, 2009 9:59am
Gold down in HUGE fashion today. I've been stating for the last couple weeks that this market was/is do for a correction. It now appears to be underway.
In the long run this is good as it could provide great setups down the road.
NOTE: The information contained in Jim's blog is for educational purposes. Market conditions and commodity and option prices constantly change. Being a successful PAPER TRADER during one time period does not mean that you will make money when you actually invest during a later period. Past Results are not necessarily indicative of Future Results. Trading commodity futures or options involves substantial risk of loss. Your trading decisions should be based on your own particular financial circumstances and trading objectives.
Please read the following risk disclosure statement:
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Metals Taking a Beating
December 4, 2009 9:51am
Specifically Gold and Silver. . .
Quote of the Day
December 4, 2009 7:36am
I've learned so many things and a lot of things I've learned the hard way. I look at failure as education in that respect I'm very well educated.
Kathy Ireland
Quote of the Day
December 3, 2009 11:07am
Self-image sets the boundaries of individual accomplishment.
Maxwell Maltz
Video Thoughts
December 2, 2009 12:26pm
NOTE: The information contained in Jim's blog is for educational purposes. Market conditions and commodity and option prices constantly change. Being a successful PAPER TRADER during one time period does not mean that you will make money when you actually invest during a later period. Past Results are not necessarily indicative of Future Results. Trading commodity futures or options involves substantial risk of loss. Your trading decisions should be based on your own particular financial circumstances and trading objectives.
Please read the following risk disclosure statement:
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
