FuturesBoard.com - Your Space for Futures Market Information
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.
Just a note to let you know that I am not producing a Premium Alert Service update today. I'll resume the updates on Friday, February 26.
Quote of the Day
February 25, 2010 11:44am
The "self-image" is the key to human personality and human behavior. Change the self image and you change the personality and the behavior.
Maxwell Maltz
Quote of the Day
February 24, 2010 10:14am
Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength.
Arnold Schwarzenegger
Quote of the Day
February 23, 2010 8:48am
Education comes from within; you get it by struggle and effort and thought.
Napoleon Hill
Quote of the Day
February 22, 2010 10:15am
You got to know when to hold ‘em know when to fold ‘em know when to walk away and know when to run. You never count your money when you're sittin' at the table. There'll be time enough for countin' when the dealing's done.
Every moment in the market is unique. . . and you don't need to know what is going to happen next to make money.
Mark Douglas - Author of "Trading in the Zone"
Go For It!
February 18, 2010 7:13pm
Below is a video of a commercial produced many years ago. The commercial is of the first "Nike Guy," Steve Prefontaine.
Steve was a long distance runner from the University of Oregon and competed in the 1972 Olympics. Unfortunately he died a tragic and untimely early accidental death.
Anyway, this quick 30 second video says a lot about Steve Prefontaine. In a nutshell, Steve's attitude was. . . don't listen to others that talk you down. Find something you want and give it every ounce of what you have to accomplish it.
So, if your goal is to become a successful trader and all you hear is that it can't be done, remember Steve Prefontaine, and keep on runnin' toward your goal!
Quote of the Day
February 18, 2010 9:53am
Never average a loss. This is one of the worst mistakes a trader can make.
W.D. Gann (another of the world's great traders)
Weekly Trends
February 17, 2010 3:41pm
I just took a partial snap shot of Trend Seeker's™ Weekly trend ratings. Just look at all of the neutrally rated markets!
(Note that the number on the far right of the screen shot is the number of weeks the market has been rated neutral.)
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
February 17, 2010 3:35pm
The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.
Jesse Livermore (Probably the greatest trader that ever lived!)
Quote of the Day
February 16, 2010 9:11am
Self-image sets the boundaries of individual accomplishment.
Maxwell Maltz
Presidents Day
February 14, 2010 5:55pm
Just a reminder that the markets are closed on Monday, February 15 for Presidents Day.
Quote of the Day
February 12, 2010 7:11am
Be faithful in small things because it is in them that your strength lies.
Mother Teresa
No Premium Alert Service Updates Tonight
February 11, 2010 3:45pm
No Premium Alert Service updates tonight.
Things have been pretty slow as far as the markets we've been watching on the Premium Alert Service updates of late. Plus I had some dental work done today and it's really tough to talk -- LOL .
Anyway, I'll produce both the Premium Alert Service and Training videos on Friday. Have a great evening!
Quote of the Day
February 11, 2010 9:20am
Develop success from failures. Discouragement and failure are two of the surest stepping stones to success.
Dale Carnegie
Many Thanks!
February 10, 2010 2:45pm
I'd like to send many thanks to all who attended last night's chat. It was a fun and enjoyable evening with lots of great questions.
Thanks again, I really appreciate your interest and your devotion to the GBE methodology!
My next chat is scheduled for Tuesday, March 9. I look forward to seeing you there!
Quote of the Day
February 10, 2010 10:05am
I don't think you ever stop giving. I really don't. I think it's an on-going process. And it's not just about being able to write a check. It's being able to touch somebody's life.
Oprah Winfrey
A Large Number of Downtrends. . .
February 9, 2010 4:01pm
Trend Seeker™ (TS) currently states that over 35 markets that we follow are in downtrends. That's a lot of markets!
Since the trend is our friend, and TS says the trends are down, based on the GBE methodology what direction should the bulk of our trading emphasize at this point in time?
That's right, trades to the downside!
Here's a small sample of the list generated by TS.
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.
Chat Tonight!
February 9, 2010 10:19am
My Next Free Monthly Online Chat is tonight, Tuesday, Feb. 9 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 your questions. Simply type your question and then watch and listen as I respond!
The key is not to prioritize what's on your schedule, but to schedule your priorities.
Stephen Covey
The Saints Get It Done!
February 7, 2010 8:50pm
It was a good Super Bowl in my mind. I didn't have a favorite (nor did I have any money on the game). I just enjoyed it for the beauty of the game.
Final score = New Orleans Saints = 31 - Indianapolis Colts = 17.
Futures Markets Figured Out. . .
February 7, 2010 7:00pm
It's finally happened. . .
SuperBowl XLIV
February 7, 2010 6:59pm
So far it's a pretty good game. It's the end of the first half and the Colts lead the Saints 10-6.
It's been a pretty good defensive battle so far, and I'm looking forward to the second half to see what adjustments both teams make.
My favorite commercial so far is the Doritos. . . "Keep your hands off my Momma and keep your hands off my Doritos."
Job Losses Since WWII Are HUGE!
February 6, 2010 4:59pm
The number of job losses in the current recession are huge. The labor department is expected to release figures showing that the number jobs lost during the recession are now over eight million.
Here's an interesting chart that I found showing the various recessions since World War II.
Many analysts feel the economy might generate one to two million jobs this year. But they feel it will take at least three to four years for the job market to turn around to some sort of normalcy. That means they're suggesting it will be 2014 before there is any significant job growth.
Makes me happy I'm part of the Greatest Business on Earth™!
Chat This Tuesday, February 9.
February 5, 2010 12:20pm
My Next Free Monthly Online Chat is Tuesday night, Feb. 9 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 your questions. Simply type your question and then watch and listen as I respond!
The successful person makes a habit of doing what the failing person doesn't like to do.
Thomas Edison
Stock Index Bulls Getting Crushed
February 4, 2010 9:47am
Take a look at the screen shot of the various stock indices below.
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.
Golden Beating
February 4, 2010 9:40am
Boy the Metals are taking a beating today. . .
Quote of the Day
February 4, 2010 9:31am
A real decision is measured by the fact that you've taken a new action. If there's no action, you haven't truly decided.
Tony Robbins
Quote of the Day
February 3, 2010 9:24am
Most people struggle with life balance simply because they haven't paid the price to decide what is really important to them.
Stephen Covey
“Dedicate Yourself to Being Better Every Single Day.” -- Will Smith
February 2, 2010 3:16pm
I highly recommend you take the time to watch the video below of Will Smith. It includes a compilation of interviews in which he shares ideas regarding skill, success, and work ethic.
Will is one of the most successful actors in the world. While he is clearly talented, his success didn't come by accident. He has worked extremely hard to become who he is today.
He offers so many worthy quotes in this video that I highly recommend you invest the nine minutes and fifty-seven seconds to watch it.
Great stuff!
A lot of Green Today!
February 2, 2010 12:49pm
At this point in the trading day a majority of the sectors are in the green!
March 2010 British Pound
February 2, 2010 12:16pm
The March British Pound has developed a pennant formation and Trend Seeker™ says the trend is down.
A close below the lower trend line of the chart pattern will trigger an entry to the downside. Note the Daily 50% level at 1.5403 below. This price level could be considered as a possible target.
If a trigger and entry take place, stops could be placed above recent highs. Ultimately stop placement, i.e. risk management, is a very personal matter. Only trade within your financial comfort level!
NOTE: The inform ation 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
February 2, 2010 10:35am
We are built to conquer environment, solve problems, achieve goals, and we find no real satisfaction or happiness in life without obstacles to conquer and goals to achieve.
Maxwell Maltz
Wall Street 2 : Money Never Sleeps Trailer
February 1, 2010 11:26am
I can't wait for this to be released. . .
Quote of the Day
February 1, 2010 9:29am
When you live your life with an appreciation of coincidences and their meanings, you connect with the underlying field of infinite possibilities.
. 
