Episode 230: A Few Lessons From The International Traders Expo in New York City

by robbooker on February 19, 2014

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Welcome to Episode 230 of The Traders Podcast. During this show, your host Rob Booker regales us with his adventures and experiences at The International Traders Expo in New York City that took place over the past few days from February 16 through 18. While at the expo, Rob listened for some lessons that might interest the podcast listeners out there who weren’t able to attend.

Rob talks about sitting in on the presentation of long-time futures trader John Person (of PersonsPlanet.com), who discussed the dropping stock of Starbucks Coffee Company. Next Rob describes a distribution bar, which is a fascinating term he heard at the conference. Rob also quotes John Person again, who commented that on the daily chart, the futures contract on natural gas has printed five Doji candles in a row, which signifies a reversal pattern or a big turn-around on the horizon. All of these and a few more tidbits from the New York Expo are highlighted here in Episode 230 of The Traders Podcast. Join us!

Links for this episode:

Twitter: @RobBooker

TFL365.com

The Traders Podcast on Twitter: @TradersPodcast

E-mail us! Producer@TradersPodcast.com

{ 4 comments… read them below or add one }

fxoutlier February 20, 2014 at 11:58 am

That last bit about trading the futures when they’re all moving in the same direction is similar to how one of your previous guests Ryan Herron is trading, but on the currency markets. There he is looking to trade the strongest currency moving up in strength against the weakest moving down, also waiting for a very strong bar in the right direction. He looks at several pairs containing the same currency to see if they’re all showing strength or weakness, and repeats for each currency to get a scale of strength against weakness, I’ve found his blog at joaquinfx.blogspot.co.uk very interesting and Ryan has directed me to a site called forexearlywarning.com to help me out. I’m looking for something like this to add directional confirmation to my support and resistance trading.
Another idea I liked was that given by Raghee Horner a few weeks back about appraising the news. Hopefully you will get both these guests on the podcast again in the future to elaborate on their ideas.

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Warren, a Trader House Contestant February 20, 2014 at 8:48 pm

Candlestick Patterns are great, but seeing as Steve Nison JUST SELLS BOOKS about 300 year old patterns he didn’t invent and doesn’t trade with (he’s not a trader), I’d rather use them in combination with fib levels, “Time-o-Day” market opens & my own custom indicator based on 3 levels of Stochastics.

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Warrior February 21, 2014 at 6:42 am

Howdy Fellas,

I’ve been listening to the podcast long enough to say that I thoroughly enjoy it and am quite amped to be able to provide some usable info! In regards to the natural gas futures (NG), back in the days of my youth I too noticed that when it was cold out and NG SHOULD be rising, it was falling, and I noticed that when it was hot as hell outside, it was rising! Being an options on futures trader at the time, I was into cycles in the commodity markets and discovered that the reason NG rises in the summer is because companies that need the NG buy it in anticipation of needing it come winter time. It falls in the winter because all of the suppliers are supplied thus, no more buying. I noticed something similar with crops as the wheat, corn, soybean group tend to rise in the planting season up until the harvest where it plateaus, and begins to drop.

Discussing the doji, the 5 doji are exciting. The only other time I’ve seen 3+ doji in succession on a larger time frame (4 hour+) was on the EUR/USD daily time frame (I am currently an avid Forex trader). I want to say it was April of 2011, it may have been 2010. But what I am absolutely certain of is that 4 doji formed and when price broke the bottom barrier of the 4 doji group, it tanked. And I mean it tanked hard and fast…giggidy lol

Any who, keep up the good work fellas! And shame on you Rob Booker telling me about your 81 degree home as I suffer in the cold ass mountainous air of Colorado Springs lol

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Suko Higuchi March 5, 2014 at 9:52 pm

FYI if you want to pronounce the word the Japanese way, it would be “dohji”. It’s a common Japanese word  — 同時 [どうじ: DOUJI] “simultaneous(ly), concurrent, same time, synchronous, together”

http://kabu-psychology.com/wp/?page_id=478

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