Euro Chat with Joe Ross

Chat log from: Thursday, February 1, 2007
SusanL joined.
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SusanL We are starting soon
SusanL in 6 minutes
roberto hi all
bergis Good evening, Susan and Roberto
SusanL Hi Bergis and Roberto :)
SusanL Where are you from if i may ask?
bergis Prague, Czech Republic
roberto Italy
SusanL cool
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mip_1950 Hallo, all!
sav joined.
SusanL Welcome everybody, Joe is on his way to the chat room
  joeross joined.
SusanL There he is...
SusanL with his stylish hat
Mikhail Hi Joe and Susan! :)
joeross Hi everyone do you like my new hat?
sav hi
bergis Joe, what does the "box-hat" mean?
SusanL


 Was anybody here 2 weeks ago? Joe and I missed the Euro Chat, we totally forgot about it, sorry.
joeross bergis: It means I couldn't find a pretty face like Susan has
bergis :-)
joeross gold is up nicely today
Mikhail Joe, when are you releasing the new e-mini method?
joeross Susan will answer that one
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joeross

 Mikhail: It is ready to go from my end. So it is just a matter of when she wants to release it
SusanL Hi Peter, welcome
PeterC Hello Susan, Hi Joe
SusanL Mikhail: E-mini method is only a matter of a few days
joeross Hi Peter
joeross That new e-mini method is really strong.
Mikhail Joe how different is it from Andy's methods?
joeross it is turning out to be the best one we ever had
SusanL

 Should be on our website by middle of next week - just keep checking our website for tradingmethods
Mikhail Nice! :)
PeterC

 sorry, I couldn't follow so far, the e-mini method is it for which markets please?
Mikhail Joe I am making a killing in the bonds these days! ;)
joeross

 Mikhail. It is an upgrade to the emini 60. Those who already have it will get the upgrade for free.
Mikhail that's even better!
Mikhail I have it
Mikhail :)
joeross Peter: emini S&P 500
PeterC ok, so it must be the jES
PeterC yes, thx Joe
joeross

 I thought you were going to email me with what you are doing, Mikhail
Mikhail Joe, I have a few days ago, but you never replied!
joeross Peter, yes the ES
Mikhail did you read my e-mail?
joeross I never got anything
Mikhail hmm...
Mikhail I will resend
roberto sorry, i have to go , hi all!
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joeross when you gotta go you gotta go :)
Mikhail


 Joe, I remember you telling me about this one trader who just stood in the corn pits or something like that for a year did not trade just observe
Mikhail that's how I am w/ the bonds now :)
joeross Mkihail: Yes that was Tom Baldwin in the bond pits
Mikhail oops
Mikhail not exactly grains
Mikhail :)
joeross

 I heard from somone at the CBOT that he is really struggling now that they bonds have gone electronic
sav


 Joe how long do you think it will be until pit trading is a thing of the past
Mikhail he needs to adapt
joeross


 sav: maybe never for some traders. There are certain very complicated spreads and also option spreads those guys do in the pits that they have not been able to duplicate via computer
Mikhail I guess he hasn't heard of the BondBlaster!?!?! ;)
PeterC




 Joe, I would like to know which Spreads according to your experience are best for mid- to longer term trades with possibilities to upsize the position - I read from you that adding up to a profitable position is the best way to make a lot of money
Mikhail piramiding
joeross Peter: some eurodollar spreads last a very long time.
Mikhail Joe, you know what's also working quite well?
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Mikhail scalping ZB off of weekly OHLC bars...
PeterC


 yes, that was my idea but hardly there is research doable as they mostly just appear at Moores for example when a seasonal move is awaited
Mikhail Joe: I think you mentioned it in one of the past issues of chartscan
joeross sounds like a winner, Mikhail
Mikhail it's such a relaxed way of making $$$ :)
Mikhail just the simple intermidiate entry technique
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Mikhail I did come up w/ a simple filter though...
murra hello
Mikhail less trades, but higher % of winners
sav

 mikhail do you watch the screen all day when trading the ZB off weekly bars
joeross




 Peter: the reason eurodollar spreads can last a long time is because they are traded 3-4 years into the future. And interest rate policies don't change very often. Once they begin raising or lowering interest rates it can last a long time, making the eurodollar spreads last a long time.
Mikhail I set alerts near "key" areas!
PeterC thank you Joe
Mikhail but I like to put the trades in manualy
joeross


 You do realize I'm not talking about a currency. A Eurodollar is an interest bearing instrument like a Treasury Bill
Mikhail w/ a healthy dose of discretion
PeterC so by watching them and simply reading the chart it should be doable
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PeterC beyond seasonality
joeross Hi murra
sav nice i also find that trading less makes more $$
murra hi joe
Mikhail where is Giussepe?
joeross


 Peter: Just watch the chart, and spread them no less than 9 months apart, and greater is even better.
PeterC

 I am currently in EDM7-EDZ8 and its a volitile ride so far but seems to have bottomed
PeterC anyway, thanks Joe
joeross welcome
murra


 sorry i never been in this chat haw do i do for look the chart? excuse me for english
joeross Peter that spread did nicely the other way around from Oct. to Dec.
joeross murra: we don't have any charts. We don't have that ability
PeterC yes, but now I am in and it should to the other way around - hahaha
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joeross Peter: Yes the cycle has come around
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joeross Long term traders are expecting lower interest rates
joeross Hi kkgang
joeross Hi imorgad
lmorgad hi
PeterC

 its just that EDM7 is to expire soon so the next time I will look for something farther to expiration
1234leso Hello Joe and all
joeross Peter I think you will be able to roll over to Sept.
joeross Hi 1234
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sav Joe are you still daytrading the russel
Mikhail Joe: I hope you guys over there are not going to go MA style! ;)
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mip_1950 I have to go, bye Joe, bye all!
Mikhail really not what your work stands for IMO
joeross

 sav: I still trade it when I find the time. Lately I've been trading stocks
joeross because I can enter them and leave them
1234leso

 Joe are you planning any revisions to trading is a business or your optons and futures book ianytime in the near future?
Mikhail it's interesting how hard it is to find Joe's books the secondary market
Mikhail everyone holds on to the books
Mikhail no one wants to sell
joeross


 1234: good question. I am revising Trading by the minute right now. I am up to Chapter 29
joeross I have some I will sell :)
Mikhail

 Joe you already revised trading my the minute and now it's Day Trading!
Mikhail Joe, I now own everyone of your books
Mikhail even the TNT courses
joeross

 Mikhail: me too! ;) Denise lets me have a copy. Mine are like new coz I don't have time to read them :)
Bondtrader hello everybody
SusanL Hello Bondtrader :)
Mikhail Hi Bondtrader
Mikhail where are you now?
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Mikhail bt
joeross 1234: I typed in the wrong book. I am revising Trading is a Business. It has more changes than I thought it would. I'm up to Chapter 29
murra joe i have reed trading by the book . when did you write it? end has it been revisited ?
Mikhail makes more sense
joeross murra: I haven't revised that book but it is next on the list to be revised after Trading is a Business.
joeross The traders in South America use that book like it was the Bible
Mikhail man, what am I going to do w/ the old copies?
Mikhail can we trade them in Joe?
1234leso Joe when trading spreads do you know the exact value of the spread or can you easily calculate it from both fills?
joeross Mikhail: Save them. They will all be classics and collectors items. Especially when few if any people remember what the trading pits were like
joeross 1234: you can easily calculate it from the fills. You can also chart them using their unit values.
Mikhail nice
Mikhail this chat room is much nicer than the previous one
jkk Joe, do you hedge by TY when trading US in accordance with easy bond method?
PeterC Joe may I ask your oppinion to a specific trade? Its also a Spread but with meats
joeross jkk: that's a great idea. I haven't done it, but I like the thought.
joeross Yes Peter ask
murra now i will read trading is business in italian and i have red day trading last time . can you suggest me an order the next two please?
Mikhail i am rereading "trading RH"
Mikhail very nice
joeross Trading the Ross Hook and TNT IV Tips Tricks and other Trading Stuff in the stock market section of our website under books
Mikhail BIG $ucce$$
PeterC I am in LCJ7-FCH7 and I was entering at a miserable point - I can see that we might test the medium term trendline and then there is a chance to rebounce or the continuation of the uptrend - the problem is that I am in at a big loss and I am not sure what to do best now
sav Trading the RH is my favourite
1234leso Joe when will the revision be done ? will the book be greatly different cos the £ makes them better value than ever
Bondtrader hello why don't I see any text?
joeross Peter: You can hold on, it looks like the trend may resume, or you can drop one side and hold onto the winning side
Mikhail we c u
PeterC thanks Joe
PeterC I was watching it back for 10 years or so and so that always it was closing February higher than January
joeross 1234: I will have the book finished within a week. The I give it to Loretta to proof read and then to Denise to have it printed. So maybe 3 months :(
Mikhail bussy bussy
1234leso ok thanks joe but there's no revisionsof the options and futures book on the horizon?
joeross Peter: that is correct. after the winter, ranchers begin bringing the feeders to the auction and the feedlots beat down the prices
joeross I am also starting a new book on day trading currency and stock index spreads
PeterC so then it might be even a chance to add up in caso of an appropriate chart-event
joeross Peter: That is the normal cycle for that spread
PeterC alright
Bondtrader joined.
joeross can you see this bondtrader?
joeross Peter, one thing to watch out for with the feeders. There was a very bad winter in parts of the U.S. this year and there might be a shortage of feeders
PeterC Joe, a few years ago I was attending a seminar arranged from Ross Trading Germany in Malaga and a guy called Mathias van Bergen was holding it. Can you tell me if he is still in your team?
PeterC Joe, thanks for the meat hints, I will watch carefully
joeross Peter: Mathias was never a part of our team.
joeross he wanted to be, but I caught him lying and cheating and wanted nothing to do with him
PeterC hmm, I attended this seminar twice with him, paid 2k Euro for each
PeterC anyway, nothing to discuss here I guess
Mikhail did u learn anything interesting?
joeross Mathias claimed I had taught him to trade and he claimed he spent time with me but it was all lies
Mikhail crafty marketing
Mikhail free-riding
Bondtrader sorry guys but I did not see any of your questions and remarks...
joeross We had to threaten him with legal action to get rid of him. But he was also engaged in illegal trading as well
Mikhail Richard Veder is on Bloomberg right now
Mikhail that guy is a character
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Mikhail a big Austrian proponent
PeterC I heard that because my brother in law was cheated from him too
joeross bondtrader: you will be able to read the chat tomorrow or Monday on our website
Mikhail Vedder looks riped :) ~~~~
joeross Mathias has the seeds of his own destruction built in.
jkk left.
PeterC no trade questions up here so I ask for your health Joe, how are your kidneys now. Did you try the Ling Zhi I recommended you a few months ago?
1234leso Joe do you often spread single stock futures or is the volume still too low
joeross Peter: I bought the Ling Zhi and have used it. Right now I'm not sure if that kidney can be saved. It seems to be clogged up. It is so small, about the size of a grape, that it hardly functions and may have trouble clearing out the toxic wastes.
joeross I will see the doctor in a few days to see if it is functioning at all. Other than that, I'm fine and feel good.
PeterC thats good to hear
Mikhail u r travelling so much
PeterC you are needed, and you should know that
Mikhail don't see how you do it
Mikhail I hate travelling these days
Mikhail so hecktic
joeross 1234: I really wish there was more volume. I have a friend in South Africa who is trading CFDs and making lots of money with them. CFDs are very much like single stock futures. But the bureaucrats in the U.S. are fighting over who should regulate SSFs and as long as they can't agree the volume won't be there.
joeross CFDs in South Africa go right to the exchange, with no broker intervention or cheating
joeross Mikhail: I am a man on a mission, and as long as I have that mission burning inside me I will travel.
Mikhail nice one
Mikhail :)
joeross My book on day trading spreads will be designed to draw people away from forex trading
murra dear can you give me a conceptual suggestion abaut italian stook do you trde it?
Mikhail when is this book coming out Joe?
joeross Mikhail: I don't know yet.
joeross murra: I can trade Italian stocks only if they trade as ADF or ADS in the U.S.
joeross Mikhail: I'm still putting it together in my mind.
PeterC Joe, I have your book Optures and Futions beside all others and would like to know it you did a lot with options during your carreer so far - I am rather pessimistic according to my experience as the pricing is mostly unpredictable beside illiquidity and partly huge spreads
sav hope you do some siteseeing and not just work on your travels joe
joeross murra. I know very little about Italian stocks. You should contact Francesco Fabi. He trades them all the time. He wins 83% of his trades. info@tradingeducators.it
SusanL I checked with Bondtrader, he needs to download the latest Java Version. He had 2 and needs 5. I am sure he will join another time.
joeross Peter: I have done extremely well selling options when premiums are high. The way to tell when they are high and overpriced is with a tool like our OptionMatrix.
joeross It really works. I can tell you briefly what we do. We sell overpriced options with no more than 25 calendar days until expiration. We enter on a Friday whenever possible and exit on the monday of expiration week.
PeterC I have made one guy in Thailand who claimed to write options on the T-Bond Future only, he said that he is using a chart with 3 days representing 1 bar and drawing trendlines and channels
PeterC Joe, which markets or any?
joeross All markets, Peter.
Bondtrader joined.
joeross Well I see it is your bedtime in Europe ;)
joeross bondtrader is here just as we are leaving.
Bondtrader now I got it...
Bondtrader sorry guys
PeterC so, you need an option calculator to determine what is overpriced or do you just read the chart of the underlying to get an idea?
joeross I hope to see you all next week. Usually the problem is an old version of Java
1234leso is this chat a regular thing now joe
sav thanks for the chat goodnight/day
Bondtrader yeah that was the problem
joeross Peter: you need a calculator
Bondtrader see you next time
PeterC are you closing now?
Bondtrader good night everybody
Mikhail cool cool
joeross 1234: if people keep coming I will do it every week at this time except when I am traveling. Next travel is late April through May
1234leso good bye all thanks joe
joeross I have work to do Peter, but I look forward to seeing you all next week.
PeterC ok, thank you and thumbs up!
joeross And I apologize that I can't do this in English, German, Italian, and Spanish.
PeterC Cheers and bye
joeross Ciao, Servus, Hasta Luego, and See you :)
murra good evening it has been very well
traderstuff I thought there was only a 6 hour time difference,but guess it is 7.
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END OF CHAT

Next Chat with Joe Ross:
Thursday, February 8 , 2007
Time: 8:00 - 9:00 P.M., European Central Time (Berlin, Paris, Rome)

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