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Insiders Club Trading Course Part 1 Bookmark

Welcome to the Insiders Club trading course!


Hi this is Bob and I want to personally thank you for making the decision to purchase this course. I know money can be tight, but if you think that paying for this education is expensive, just

Welcome to the Insiders Club trading course!


Hi this is Bob and I want to personally thank you for making the decision to purchase this course. I know money can be tight, but if you think that paying for this education is expensive, just wait until you try personal investing without any. You will learn the true meaning of expensive.

Over these next few pages, I am going to try and “teach you” via audio, video and text, as much of the “important” things that I believe you have to know and understand to be a successful investor or trader. Now you do have to understand that this has not been an easy project for me. If I make it too long, tons of the really good stuff just gets lost in the shuffle. If I make it too short, I can’t really have hit on all the things I think you need to know.

So, here’s what I’m going to do. Since you paid good money for this course, if in the future I think that there’s some tip, or what have you that I think I forgot to include, I’m going to update the course, put it in there, and then send you an email telling you that the course has been updated. Since this thing will live on our servers for “ever”, that means if I update something two years from now…you’ll get notified. I think that adds a certain value to this.



So, where to start? Well like most things, let’s start at the beginning, and ask a question.

Can the average man or woman make a substantial profit trading and investing in stocks month after month, in a bull (rising) or a bear (falling) market? The answer is yes, but there are caveats. We can teach you the methods, the timing, the tactics, and the strategies that will put cash in your pocket month after month. BUT there is a price to pay, and that is your involvement. The stock market is by far the biggest participant sport in the world, and the key to being successful in it means that you must make the sacrifice of your time to become wealthy. If you are under the impression that you can take a wad of money and throw it at the market, then sit back and watch the cash roll in, you are about to become very, broke. Very quickly.

Many of you who are reading this are current members of the Insiders Club. You see it real time, in real life…day after day making trades, and pulling dollars out of Wall Street. What a rush it is, buying a thousand shares of a stock and then selling that stock a week later for five dollars more than we paid. That’s five grand for pushing a few buttons. We do it over and over and over.

But of course it’s an illusion of sorts. While it looks easy, there’s 20 years of experience behind pushing those buttons. I …just like you had to start somewhere and when I made my first trade, I lost 700 dollars. I almost wanted to quit on the spot. But grit, determination and a thirst for knowledge kept me motivated. Within a year I was making good trades on a regular basis. Now, it’s almost second nature to us. I don’t care if the market’s going up, down or sideways, rarely is there a week where we can’t pull a few grand away from Wall Street.

So as much as I can preach to you, and give you the tools, if you aren’t willing to put in the time and energy to really pay attention, you’re going to wind up disappointed. You’ll be an average investor. Win some, lose more.

But if you’ve made the decision that it’s high time you really learn how to do this, how to make good decisions, how to find good trades, how to “read” the market and do things correctly…you are going to be handsomely rewarded. I flat guarantee that if you follow the right path, concentrate, get your mind right, you can succeed in this business. The fun part is that once you “get it” and it’s working for you, the sky is the limit. I’m not going to tell you that you can take a hundred bucks and be a millionaire in a year. Please. But, can you take 50 grand and turn it into 100 in a year? Sure. Done it many times. Then can you take that 100 and make it into two? Sure.

Not many things in life afford you the ability to make the kind of money that investing brings. Like Livermore said so many years ago, “each day the market doors open and there’s gold bars laying around, and all you have to do is pick them up”. He was so right. Each and every day you have the “chance” to make money. Hone your skills so that you better your odds, and you can make very serious cash.


A Brief History Lesson

Just because I think it’s interesting and worthwhile to know how all of this market baloney got started and how it works, I want to do a little audio file here for you, where I’ll explain what the whole concept of a stock is, where the idea came from, how the exchanges came about etc. If you’re going to be “in” this business, it makes sense to understand how it operates and where it came from.

{ympr}http://www.investyourself.com/images/AudioRecs/Audio 2.mp3, LISTEN HERE{/ympr}

To sort of read along with the audio, the print is found here…


NOTE>> if you are truly a beginner and you don’t have a clue about how anything works.. PLEASE use our trading 101 paper. Although we printed that about ten years ago, it is the easiest reading “how to” on the very basics of getting started that I knew how to produce. Start here. http://www.investyourself.com/index.php?option=com_content&view=article&id=136

Simply click “up next” and read the next several reports. That will get you up to speed fairly quickly. Granted it’s for the absolute beginner that doesn’t even know what a brokerage is, but there are some little gems of wisdom we put in there, that are important for everyone.

Now, since 90% of you took this course to find out how to trade stocks for profit, we need to explore something basic….


Just what is a stock?

What exactly is a "stock" anyway? Let's dive right in and take a look at just what we are getting for our money. On the surface, well, it's really not much. But the "idea" behind it is pretty big. Basically, when you buy a "share" of stock, you are buying into a tiny piece of a company. In its most basic form, you become a lender of cash to a company so that it can finance its operations and expansions and run its daily business, and in return--if the company "grows"--your stock will become more valuable. Years ago you actually would get paper certificates with the company's name and logo on it, but now 99.9% of all transactions are done electronically, and you don't get the paper certificates anymore (you still can get them, but in reality there isn't any underlying reason to do it).

So in its most basic description, a share of stock is an "IOU" from a company that says "for lending us operating capital, we will give you this little piece of ownership in our company. If our company grows and we are rewarded, you will be rewarded in one of two ways. First, the stock may become worth more than what you paid for it, and you can sell it for a handsome profit. Second, if we become really profitable, we may pay you a "percentage” of our profits by way of a dividend. The combination of a more valuable share, AND a cash payout of our profit's should make you a happy investor in our company."

If a company only issued two shares of stock and you owned one of them you would own half of that company. Today, most of the stocks that we trade are in the millions of shares, so it won't be like the company will be calling you for advice because you own a couple hundred shares. Buying a stock was historically viewed as a sound investment if the company was strong and growing and there was a chance that the dividends they paid back would actually make you a profit some day. Then if the stock price itself rose, the investment was really paying off! Today, we as profit makers aren't too worried about the size of the dividend the stock pays. We are looking for a stock that we can buy and then sell for a gain. Dividends are great, but we usually don’t hold stocks long enough to take advantage of them.

Now I’m going to toss you a curve ball. IF the stock you buy does NOT pay a dividend, you are now in the “greater fool game”. Think about it for a minute folks. If you buy a great company, and it pays a 5% dividend, at least you’re getting a return on your outlay. That’s how some incredible wealth has been made over the past half century. People would buy into utilities and coal companies, and way back then maybe the stock only cost 10 dollars a share, and was paying 4%. Well guess what? In a number of years the dividend paid for the initial stock purchase. After that, it was all “profit” to you. Then, because of inflation, or just good business, if the stock itself went up you were getting the proverbial “double whammy”. In my own family, I remember my aunt becoming very “well off” as the stocks her father granted her as a child had paid dividends for 40 years, and increased in price.

But again if the stock pays NO dividend…what is it worth? Frankly nothing. It’s only worth what someone else will pay you for it. It’s the greater fool theory. If I own it, but don’t think it can go higher I sell it to Joe Blow. Joe blow hopes it goes higher and if it does, maybe he sells it for profit to Mary Lamb. Mary sells it to George. All along the chain, someone thinks it’s “worth more” and buys it. Yet why does it have any worth if it isn’t paying a dividend? It’s all fiction value. The Greater fool theory.

Since most stocks today don’t pay dividends, we certainly don’t care about its intrinsic value, it doesn’t really have any. It’s only carrying a value because someone “set” the price. As that trend developed more and more in the 1990’s and 2000’s ( not paying dividends) it became increasingly obvious to me that I do NOT have to pay attention to the fundamentals that we used to study. To hell with P/E, Book to Bill, Book to Sales, and all the other metrics we’d use to measure a companies value. If a stock with no dividend was going up…it had to be because some “force”’ was moving it. The greater fool theory…someone else wanted it more “badly”. Or maybe it was just moving with the overall market? Maybe because a “rising tide lifts all boats” this stock is simply going up, because they all are?

See folks, here’s curve ball number two for a lot of you. I don’t care about fundamentals any more. Not even a little bit. You’ll never see me wade through a balance sheet again. One reason I just explained to you, if you’re buying a stock with no dividend, its worth is nothing more than what people have decided it’s worth. Well that’s silly. Then on top of that, since you obviously read the newsletter…you know that the market is now the epicenter of every fraud imaginable. Just because a company puts out its numbers, do they have any bearing on the facts? Are they real? Can you prove them? When a company gives “forward guidance” .. are you kidding me? How do they know what people will be doing in the next three months? They don’t. It’s a horse and pony show.

So what you will NOT find in this course is how to read balance sheets, understand tangible book value, etc etc. What you will find in this course is a way to understand what goes on daily, how to find good opportunity, and execute with the least risk. I know to some of you what I’m saying goes against everything you’ve ever heard. Well…get over it.

I’m going to use this example just to show you how completely in the dark you are about real earnings, statements etc….

Over the past few months (and this is Jan 2011) you’ve heard of how healthy the banks are getting, and how they’re ready to lend and how they’re making profits now. Remember that word folk, profits. Then take a read of this headline blurb I captured off of Forbes…

The giant US banks have been bailed out again from huge potential writeoffs by loosey-goosey accounting accepted by the accounting profession and the regulators.

They are allowed to accrue interest on “non-performing mortgages” until the actual foreclosure takes place, which on average takes about 16 months.

All the phantom interest that is not actually collected is booked as income until the actual act of foreclosure. As a result, many bank financial statements actually look much better than they actually are. At foreclosure all the phantom income comes off the books of the banks.

This means that Bank of America, Citigroup, JP Morgan and Wells Fargo, among hundreds of other smaller institutions, can report interest due them, but not paid, on an estimated $1.4 trillion of face value mortgages on the 7 million homes that are in the process of being foreclosed. - forbes.com

There you have it folks. While the pundits tell you of the glorious profits at the banks, and people buy these shares based on profits, they are booking profits that don’t exist. This is why the notion of checking profits and what have you in the year 2011 is silly and a waste of time. You have no idea what they’re really doing.

So, as you move forward in this…just know, we base our buying on many factors, but for the most part, “balance sheets” aren’t one of them.


Your Head

The fist part of this course is going to deal with emotions. We have a long laundry list of things for you to learn and discuss, but first off we have to lay out some “ground rules”.

I’m going to start to do that with an audio clip. Now, I know some folks would rather read everything, and some would rather just watch video, so I’m going to be doing a bit of all that so hopefully I can keep you all interested in what’s going on.

So right now please click this audio button and listen to this introduction. I need you to pay VERY CLOSE ATTENTION to trying to find the point I’m trying to make in it. Okay? Good,

{ympr}http://www.investyourself.com/images/AudioRecs/Audio 1.mp3, LISTEN HERE{/ympr}

What was the point folks? Obviously the point was that mindset is ultimately important in this game. We being electro-mechanical people have very profound ways of thinking. All of life follows cyclical patterns, not linear ones. Nonetheless, we are all psychologically conditioned to project the recent past linearly into the indefinite future. If the weather behaved less predictably than it does, each summer we'd hear from weather analysts who would tell us why temperatures are likely to keep going higher, and we'll probably never have another winter.

Imagine being skeptical each autumn about whether winter will "really arrive". We have the equivalent in the financial markets, in which the vast majority of investors are reluctant to sell until it is already far too late to obtain favorable prices. Likewise, they’ll believe that it will keep on getting hotter indefinitely, especially if we set new Temperature highs for an extended period of time. As long as we hear every day in the media that we had the one really cold winter in our lifetimes and the chance of a repeat is zero, then nearly everyone will accept that explanation until they're trapped in a few feet of snow and have no idea how to dig out. Then, they'll conclude that it will never get warm outside for many years--if ever. From frequent repeated experience, we learn to adjust to the weather's cyclicality, but very few learn to understand that the financial markets are similarly cyclical with a higher degree of complexity. While there is evidence of any major financial trend change, investors refuse to accept this evidence until it has already led to a substantial change in price--at which point it is too late to profit from the reversal of fortune. Several decades from now, historians will look back at what will become known as the real-estate bubble era, and wonder how people could have been so blind to what was going to happen.

People are funny creatures like that. No matter what the situation, it is common nature for people to think it will never change. During the Great Depression, not one person in 10 would tell you that “soon we’ll be dancin like the roaring 20’s” Yet worse, much worse was that during the roaring 20’s, not 1 in 10 would ever believe the party could end.

Parties Start. Parties End. Bull markets start. Bull markets end.

It’s at this point I have to relate a story. We had a subscriber that followed us religiously during the 98/99/2000 bull run. Her and her husband did amazingly well. They made a small fortune. Then one day in 2003 I got a letter from her. It was titled “Why didn’t I listen?”

Inside the letter, she told me how they had gotten “pretty rich” following the newsletter. They had never really been buyers of stock, but once they got the letter and made a few successful trades, things got easier. She said that with my help via the letters, her and her husband had a fantastic retirement set up, and over 500K dollars to live off.

But then in March of 2000 when I started telling folks it was time to sell.. she couldn’t’ do it. Here’s a direct quote that almost brings tears to my eyes…”We followed your every move. You were like magic to us, each trade it seemed just worked. If you said you were liking it, we bought it. If you said the market would be up that week, we bought it. And it always worked. But, when you flipped and started telling us it was all over and time to cash out or go short, we didn’t believe you. You were “just Bob” but on TV everyone was saying it was just a pull back, a bump in the road. The market was going to go higher and higher.

Why didn’t I listen?? Why did I trust you all the way up, but then decided you were no good when you started warning us? I don’t know. But now the money is gone. We held and held to the end. My husband has gone back to work, and our nest egg is gone. Dammit, why didn’t we listen?”

Those are incredibly powerful words right there folks. Words with more meaning than I can express to you. The single biggest thing that you HAVE to understand is that this is a MENTAL game. We aren’t boxing, we aren’t running races, and we aren’t pumping metal. We are trying to take money from other people. Don’t get weird on me, that’s what we’re doing. For us to take five bucks a share on the long side in a stock, someone else had to sell it to us that didn’t think it was going up.

So, what I need you all to be is FLEXIBLE. You have to be NIMBLE. You have to understand that there is a time to sit tight, a time to sell, a time to go short, and NONE of it should matter to your emotions.

That emotional programming that makes us believe that the trend in place is going to last for ever must NOT be present in your head. PERIOD. Think about the housing bubble for a bit. I had full out arguments with good friends about this. I remember in the height of it, telling a neighbor how badly this was going to end, and that houses that were selling for 400K I was going to buy in a few years at 150K. He LAUGHED at me. Out loud. He mocked me. Out loud.

In his mind, the trend was set and would never change. Houses only went up. Period. Obviously he was proven wrong. I have since bought those very houses for under 160K

So Important lesson number 1 of this whole course is simply this…

You can NOT get locked into your instinctual emotions. You need to be as fluid as water. When the tides coming in, you swim with it. When it’s going out, you swim with it too; just you’re heading the other way. But notice something…each time you’re going WITH the trend. Up or down, doesn’t matter.

Now, taking that a step further…

We do NOT advocate that you paper trade for training purposes. First for those that don’t know what that is, it’s simply a fake account with fake dollars that brokerages let you play with to “test your ideas and learn to trade”. Bullshit. DO NOT DO IT. Why? Simple. When you are paper trading your mind knows it’s not real money and you’ll do all manner of risky things that you would never do with real money.

Now I’m going to toss you a real curve ball. If you paper trade you’re going to make a lot of money. Really. If you open a training account and fund it with 100K of fake money, with a little help from a letter like ours or what have you, you will probably have that account up to 150K in a few weeks. Why? No inhibitions. Who gives a rats butt if you buy 25,0000 shares of some no name company? If it goes belly up, no sweat. If it runs you make a fake fortune.

But, trading real money is a whole different animal. Now all of a sudden EVERY MOVE YOU MAKE HAS CONSEQUENCE. EVERY ONE. You take those wild shots with real money, and by chance you didn’t get lucky that day, you could easily lose half your money in a week. But there’s much more to it than that. You will now have FEAR. Real FEAR. Because your mind knows that you have limited resources, and that if you screw up, it’s real dollars that are going to be lost…it creates tensions. Lots of them.

We have a saying that in the market it’s all about fear and greed and for the “most” part that’s correct. On the personal level however, both of these are damaging to you.

So what is the “Right” way to start your investing journey? One word folks SMALL. Very small. Now I’ll add a support word to the mix. SLOW. Very slow. Small and slow.

Consider this for a moment please. Let’s say you look in the mirror and the reflection staring back at you is…well. Fat. Lots of it. Well you didn’t get that way overnight. You weren’t svelte and shapely yesterday and woke up today saying “oh no I’m a disgusting fat pig”. No, it took time. Likewise it’s going to take time to get rid of it. Well in the market, if yesterday you have never bought a share of stock; don’t really understand the whole game yet, do you think it’s wise to start off buying 5000 shares of something? It most certainly is not.

The single best way to learn about your emotions in this arena and learn how to tame them is to start small and go slow. Realize that you ARE going to take losses. It is part of this game. We don’t get them all right. What we do is get more of them right than wrong, and cut our losses quickly. For you to train your mind to understand that loss is inevitable, you need to experience some losses that will not break the bank.

If you buy 50 shares of ABC at 10 dollars, and it goes to 9, you can sell it out and you’ve lost 50 dollars. No big deal. But now you get to see how that makes you feel. What did you do wrong? Why did it fall instead of go up? Were you angry? Were you almost willing to continue to hold it, “hoping’ that it would come back?

If you buy 50 Shares of ABC at 10, and it goes to 12, How did you react? Did you push your chest out and yell to the kids “hey Big daddy trader is in the house!!” Or, did you quietly examine why that trade went so well, and took note of any interesting features of it? If you answered yes to this, you are on the way to being a good investor. Sure you should be proud of good trades. Just don't wear them like a badge, because as soon as you become pompous, Mr. Market will kick your butt.

Lesson 1 was that you have to be emotionless about trends and directions. There is as much (sometimes more) money to be made being “short” the market as there is being long. The direction should not make any difference to you what so ever. Just training your mind to know that is wonderful. Training your mind to NOT get conned into believing the current trend will never change is paramount. It will change. The Only constant is change.

Lesson 2 is that when you first start investing on your own, I want you to use insanely small positions and take your time. It will take you about a year of being fairly active before you’re really going to be ready to be firing off 2000 share buys. Take your time. No matter how old you are, you spent your ENTIRE LIFE not knowing how to do this. Take a year to learn to do it right, okay? Go slow; analyze when things go right, and when they go wrong. Write down the things you start to witness and especially if you have any of those ‘aha!” moments. Write it down, learn from it, burn it into your brain. You will see the same thing again in the future, trust me.


Go to Part 2

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