Eur-Gbp and some important considerations
14 May 2022
After the summer (with little desire) I return to work
12 September 2022
This was something I had been pondering for a couple of months and last week I made the decision to stop publishing my analyses in the Blog section. I will now explain the reasons that led me to this decision. When I started writing my books and opened the site Trading with David, the aim was to explain how to correctly and clearly analyse a commodity and a currency pair, so that many traders could improve their results and become profitable.
Apart from the books, which took me so much (too much...) time, everything else is free, including the replies to the numerous e-mails I receive every week (and the site which between hosting, domain and translations, costs me several hundred dollars a year). What I did was certainly not to make a profit. You have no idea how many people, only in 2022, have asked me if I would give them courses, be their mentor, assist them in their operations, etc. I always declined. And on the books... apart from the cost of advertising on Amazon, what's left in my pocket is a few pennies. Most of the royalties let's say are "invested" in other "assets".
Maybe I made a mistake, I should have done like the flood of gurus who advertise on Facebook, YouTube, and the internet more generally, and charged thousands of euros to explain to you three bullshit things which are of no use to you. But that's how I am, I am "weird" as someone called me.
With time, however, I realised that the site only aroused interest when I published an analysis. I also received a couple of e-mails from people who complained that I published a few analyses in the Forex category, arrogating to themselves the right to have more operational signals. I avoid commenting, it would be pointless.
I became so aware that most people see the site as something that tells them what to buy or sell (and for free). They are not interested in learning, too much effort (or too difficult...), they want a ready-made meal. I don't do paid advising, let alone free for people who only take (and demanding).
With my decision, I will lose many of my readers. Good, I do not know what to do with people like that. I do not aspire to have millions of followers, likes or comments. I only need a few traders who have the desire to become good traders, to become profitable; who have the desire to learn. For them, I will continue and develop the educational part with some projects I have in the pipeline.
In this regard, I opened an account with Mexem at the end of April (the account is with Interactive Brokers, Mexem only provides customer service). I only deposited € 3,000 with the purpose of replicating, on a real trading platform, my operations (limited to one contract per trade and a smaller investment than in my trading account).
Below, I show you (they will be the only ones) the first four trades I entered on the platform (obviously there are only the trades I opened after opening the account with IB).
These are two multi-leg spreads (one on corn and the other on soybean), the Eur-Gbp short explained in the last article (Eur-Gbp and some important considerations) and an options trade. For the moment I will publish the results every month, in the future, I will see whether to use the platform for a "live trading" service (but for the moment it is just an idea). This is to show you that what I explain in my books is not the usual three bullshit things that at the first gust of wind no longer work.
This was something I had been pondering for a couple of months and last week I made the decision to stop publishing my analyses in the Blog section. I will now explain the reasons that led me to this decision
I am a macroeconomic and financial analyst with over 30 years’ experience, including two years as a fund manager. I specialise in currencies and commodities, and I am the author of several successful books on trading, macroeconomics, and financial markets.
4 Comments
I understand your point of view. Too many people want to be told what to do. I will stay here for the education.
Good call David.
Too bad that you will stop posting your analysis here. I find that your articles are very good and hope to learn more from you. I am interested to learn how you come out with the multi-leg spread pairs.
Hi David
I understand 100% , feel the same . I used to publish everything on Twitter, people asked me in DM what they should buy for their portfolio and then this and that, I have at times thousands of prints of my analysis and perhaps at best 1 or 2 likes from people I have befriended ..most people including bigger Twitter accounts follow my stuff and keep it for themselves . I have stopped putting my analysis like I used to do everyday spending half the night giving levels/ turning swing points in US indices , the grains, the currencies pairs … I see plenty of “rubbish” twitter accounts followed by thousands of people, etc…as you said people want to be spoon fed and not learn or do the work. I read you because I can see the quality of your posts and you trade AG spreads which I am not too familiar with but have an interest in learning about etc and you focus on commodities , my preferred markets . I APPRECIATE EVERYTHING YOU HAVE SO GENEROUSLY SHARED. As I said I understand your point it is disheartening to see people expecting so much without even some kind of nice feedback at the very least . It won’t last , already plenty of people who used to post on Twitter for free now have private channels etc… this is something the NET has imposed though : even the farmers here since they can get plenty of free stuff online no longer wants to pay for analysis/ sell- buy or hedging ..why pay when we can get some stuff for free …it took me 20 years and it took me some time to figure things out , they expect the shortcuts free of charge and they don’t even appreciate that …I’d love though being part of a circle of trader(s) who are knowledgeable and share between us ..trading can be very lonely .