How my worst trade turned out to be my best trade ever!

Today I’d like to share a hard, but important lesson I learned in my trading career. At the time I considered it my worst trade ever; in retrospect it turned out to be my best trade.

Here’s why…

I started in the commodities business as a broker for a company called Conti Commodity Services. Conti was a division of Continental Grain Co. one of the largest and oldest grain companies in the world. Back in the 70s, Conti was just starting a new division to handle customers in the brokerage business. I was lucky enough to have them hire me as I had no experience and very little education. But, I was enthusiastic and willing to learn.

So there I was at Conti Commodity Services dialing and smiling and looking to get business for myself and the company. All this was back in the 70s when grain prices were skyrocketing. After a brief time on the job I guess I thought I knew better than everybody else.

So here’s my worst trade… Continue reading "How my worst trade turned out to be my best trade ever!"

Weekend Update: SUPERCOMMITTEE, EUROPE, and other big problems for the markets.

Hello fellow traders everywhere. Adam Hewison here co-founder of MarketClub with your weekend update for the trading week ending on 11/18/11.

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SUPERCOMMITTEE, EUROPE, and other big problems for the markets

This week I want to give credit where credit is due. One thing that Washington does really well, is they know how to name things, have you noticed that? Remember these names? The American Recovery and Reinvestment Act of 2009, Shovel Ready Jobs, or my favorite, "Cash for Clunkers" remember that one?

Now comes the SUPERCOMMITTEE, it's not just a committee, it's a SUPERCOMMITTEE with no space. I keep thinking to myself, what is a SUPERCOMMITTEE, how is it different from a committee? In fact, I was so intrigued that I looked up SUPERCOMMITTEE in the dictionary, the word doesn't even exist. Like a lot of things in Washington these days, it's all about smoke and mirrors, followed by no substance.

On the 23rd of this month, just before Thanksgiving, the so-called SUPERCOMMITTEE is going to come out with their recommendations, it's not going to happen. Chances are, the report/recommendations will be delayed until the following week. If anyone's good at kicking the can down the road, it's Washington.

Another fly in the ointment for the markets this coming week, is the Continue reading "Weekend Update: SUPERCOMMITTEE, EUROPE, and other big problems for the markets."

What is happening to the world?

Hello traders everywhere!  Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 18th of November.
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It's Friday and we know what that means!

As we move into the trading day, the equity markets are all lower for the week.  Many of the markets came under pressure this past week, including crude oil which looks like it is going to close lower for the week after reaching a six month high earlier in the week.  This is not a particularly positive sign for this market. Continue reading "What is happening to the world?"

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Adam Hewison
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Co-Creator of MarketClub.com

What the FITCH!

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday, the 17th of November.
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Let me begin by thanking everyone who watched our show last night at 5 PM. Jeremy and I had a great time and we covered many of the markets that are moving today. If you did not see the show, you can watch it here.

The overall market action yesterday was not good with the warning from FITCH about European bank losses. The bank stocks were a disaster and appear as though they are anticipating further problems in Europe.

Europe, of course, is on the minds of every trader to the point where it's overshadowing all other thoughts on the market. As said earlier this week, "reality is slowly sinking into the markets." Continue reading "What the FITCH!"