April 15 - The Learning Never Stops Towards a Successful Trading Career

Hi All.

Below is a Q&A thread I took from one of my post comments field.

I'm sharing this out as a post as I figure the content might help with those who are still finding themselves struggling with trade consistency & psychology.

I've been there, done that, & still evolving for better...:)

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~* The Q&A *~

Nemo DBS April 14, 2013 at 2:53 PM

hihi, still have 10 min to go my F1 Grand Prix, drop a fast question
Jeanne, what's trade style you more on? long/short term position or intraday? you must be able to control the emotional and psychological problems before as full time trader, any advice for those want to become full time trader?
Some guys peeping here want to know , they shy to ask, hahahahhaha

~*Je@nne*~April 15, 2013 at 1:42 PM

F1! Cool! \(^o^)/

I hold swing positions on FKLI (basic income), & day trade CPO (extra pocket money).
This is my current style. When I have grow my account enough as planned, I will change to another 'combo'...lol

The truth is, I was kinda 'forced' to quit my day job earlier than expected (long & sad story), came in short of my initially planned starting capital.
Turned full-time anyway, coz I believe in forcing myself out of comfort zone to achieve higher goals, also I believe I have found my direction in the trading business.

Remember this, traders are not God, we are still humans, i.e. we can get emotional.
I got tricked by the 'news' during the April03 dissolution roller-coaster too. Technical says buy, but I'm too 'convinced' that its gonna be a winner to short on dissolution announcement.

The main takeaway is:
- Learn, Experience, come out with ur own trade setup that can give u an 'edge' against the 

  market.
- When ur setup appears, check the Risk:Reward ratio, if satisfiable, take the trade, DON'T 

  STOP & THINK.
- Then also, do treat each of ur trades EQUALLY. No one trade MUST BE A WINNER. 

  Start treating ur trades equally, manage ur risk with strict discipline, then u'll find 

  CONSISTENCY in ur trades & also ur PSYCHE.

I actually started off quite sloppily, big fluctuations in wins n losses. Went all haywire with my psyche.
It's the 'no turning back' factor that keep pushing me to 'evolve' for better, keep learning & adapting, especially the risk management & trading psychology part.

At some point, any traders will have equipped themselves with sufficient TA skills. The only thing that differentiate the consistently-winning from the still-struggling group is TRADE MANAGEMENT & PSYCHOLOGY.

Hope this will be of help.

~* The End *~

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I've explored various seminars, programs, talks, congresses, foc & paid, to continue enriching my knowledge & mindset, towards a successful life.

Below, I compiled a few 'starters' which you all may start your very own journey of mind & soul searching from... lol... :)

Learning from the Experts:

T. Harv Eker - Understanding your money blueprint
Get Hardwired For Success

Explore Harv Eker's signature programs:
Millionaire Mind Intensive (3-day course)
National Achievers Congress Malaysia 2013

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Adam Khoo - Going Beyond Your Comfort Zone

One of his many books that bring to our awareness the power of our mind, & how we can maximize our own mental resources to achieve what we want in life through simple NLP techniques.
Adam Khoo - Master Your Mind, Design Your Destiny

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YouTube Videos on Trading

~ Trading Psychology - Lesson 6 - Pulling The Trigger

~ Before Trading for a Living - Is Swing Trading For A Living Possible?

~ A short vid from a true trader, sharing his experience on the harsh reality of what happens when
   you have a bad day when trading and how to recover.
   Quoting him: "Self-honesty & self-reflection is huge in this business." ....Very true indeed!
   Day Trading Advice: Recovering From A Bad Day

>>>

There's so many free resources to learn from in amid the digital information boom era, its just a matter of whether you WANT to learn, or you don't.

Happy Learning!! 

Came a long way, & still learning....
~*Je@nne*~

How Much Is Your Degree Worth ??

Hi all.

Just finished watching a video shared by a few friends, titled 'The College Conspiracy'.

I've grown up being a huge fan of Kiyosaki's skepticism on the saying:

"Study hard, Go to college, Get a good Degree, Find a good job, Live well ever after."

I've even resisted further studying after secondary school, but I was not strong enough to go against 'the common practice/culture' & my family's will.

Eventually, I went for a year of Malaysian Matriculation study, followed by 4 years of University life pursuing an Engineering Degree. All of which, I estimated had cost me roughly RM70k, not to mentioned the opportunity cost over the 5 years spent studying.

Last check, I'm making a living trading futures on the local market, with skills I acquired through 2-3 years of self-study, & slightly over RM15k of investment on various mind-setting, wealth & trading courses.

None of which has anything to do with my 4 years of Engineering studies.

After watching the video, 

I was thinking, if only I've skipped the 5 years of further studies after secondary school, & jump straight to where I started self-studying on trading matters.

I could have saved myself some RM70,000 of debt, & 2-3 years of time, 

with which I could have used to practice & sharpen my trading skills, & in turn make myself a successful trader, much more earlier in my life.

Anyway, I'm thankful that I managed to take the important step to detach myself from the 'common practice', into an uncommon territory called, OUTSIDE the COMFORT ZONE.

It is exactly this uncommon ground, I believe, that nurtures its more-than-average inhabitants to achieve exceptional success, all of which too 'outstanding' for the average crowd.

Which is why, 

I especially like this quote taken from the video (at 00:35:10):

There's still a huge gap between our education system & the ever-changing global economies, businesses & environment.

To lead a better life, I still think being a street smart is much more important than being the crème de la crème of a top university. 

I have seen many 4.0 graduates who can hardly live a proper life independently of their over-protective parents, not to mentioned contributing to the economy or society.

If you have a great job, you should watch this.

If you have a schooling child, you should watch this.

If you have an urge to be more than average, start re-educate yourself by watching this.

 

Well, I'm kinda good with enticing ad-phrases! LOL :D

A great food for thought for the long break before 2012 ends, with no apocalypse!.... :)

Last but not least, I'd like to take the chance to

Wish all of you & family,

a Merry X'mas, Great 2012, & Happy 2013 !! 

Manipulative KLCI (Aug 15)

How they manipulate the KLCI index (Aug 15, 2012)

The above snapshot should very well explain why I personally despise our local stock counters. I'm actually quite furious about this kind of FUNKY CLOSING(s) for KLCI.

TOTAL MANIPULATION !!

I haven't even show the charts on CYBERT, GPRO, E&O....etc. Their market capital can go doubled, then halves, all within a matter of a few weeks, if not days.

One friend commented on my previous post, saying that he dislikes Futures, & is now enjoying charting on good fundamental stocks in KLCI. 

Well, only by manipulating certain GOOD FUNDAMENTAL STOCKS, will our beloved index rocket up within the last miute of trading like that.

From what I observed & experienced, the ONE & ONLY ONE WAY to investing in our local stock market is to follow....

The WARREN BUFFET Way of Investing: 

Buy a good company with potential GROWTH PROSPECT, spare 10% of your monthly income to invest in it for the next 10-20 years. 

Investment objective: Beat inflation, Dividend income, Retirement fund

Other than that, there's hardly any chance for retailers like us, without any UNFAIR ADVANTAGE of getting FASTER & MORE 'ACCURATE' INFO, to make money from KLCI stocks.

For those faithful local stock investors out there, follow the Buffet style.

Otherwise, sorry for being blunt, but I really wish you all EXTRAORDINARY LUCK to profit from this manipulative market. 

Just a post to refute those noises that bothers me recently. 

Again, I'm not advocating everybody to jump into futures market, but we have to ACQUIRE MORE & MORE KNOWLEDGE...

Just so we can BE AWARE of / IDENTIFY 'funky happenings' in the market, & be able to give ourselves MORE OPTIONS to make a more INFORMED DECISIONS.

The same applies to all other decisions we made in life. This is an information age, know more, because:

KNOWLEDGE is MONEY!! ------ Robert Kiyosaki, Unfair Advantage

Only then, we can...

Hunt Happily!!

Enjoy!! :)

 

July'12 - Trading Income > Working Income

Hi All.

Haven't been posting for a while.....

Had been busy keeping up progress on my 2H'12 trading plan & also drafting out my future plan after I QUIT MY JOB.....

Yes....You read that correctly!!

I've officially thrown the letter on August 1, 2012 (I gotta remember this date!!), & is now anxious- plus cautiously counting down the last 2-months of my life working as an EMPLOYEE.....

This is going to be the most important MILESTONE in my life.....

Hereon, I'll bid farewell to working for a living.....& march towards a lifestyle that I've longed for, one as described in my favorite book on trading, 

TRADING - THE LAST FRONTIER
"You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody"
                         ----- by Dr. Alexander Elder in his book, Trading For A Living

I do feel nervous, have some doubts & "??" in my head, weighing my decision & wonder if this is the right timing to make such a move....

Nonetheless, a friend's mantra which goes like this: 

" Don't keep thinking, START DOING !! "

.....also, I manage to pick up a quote from his blog:

Good friends keeps me motivated along the way when I sometimes get drifted away by emotional tides....Can't name you all one by one, but my gratitude to all your support!!

I sometimes wonder if I can make it.....But, keep wondering will only keep me wandering & marking time......Seriously,

You'll never know the result if you never T-R-Y/take action

If you take that action, at least there's a 50-50 chance of succeeding.

Of course, in our life, there will always be a bunch of people who stand with folded arms waiting for that fall-out (like in Taylor Swift's new single "EYES OPEN".... :p .... Anyway, I will not be focusing on them...

Leaving that behind, for the moment.....

I'd like to share some of my trades in July.

FIRST trade for the month, shared in my previous post, was a huge success as I managed to earn a profit as much as my current monthly salary, from a single CPO futures contract. And I was just a newbie doing my few trades with CPO at the time, testing out my charting techniques from FKLI in CPO.

After the awesome first trade, I carry on with my 2nd CPO trade, holding >3k profit on-hand, here's what happened:

FCPO - Profit-turn-Losses trade (July 18, 2012)

Haihhh......I guesses the chart said it all.....I see nicely another month of salary made within 2 days vaporized....taking away a small losses with it....HEART ACHE !! @_@;

After resting for a few days, calming down my mind, went into another profitable 3rd trade, which was quite a PRETTY + PERFECT trade for me....safe entry coupled with an almost-perfect exit....



FCPO - LONG on oversold after weak SGS data (July 25, 2012)



Together with a few more small gains in FKLI, July was indeed a very REWARDING month for me....both financially & spiritually....As this is the first of the six months of my 2H'12 trading plan....It's a joy & added boost to my confidence to really start my trading career coming Oct'12.

So, July kicks off my 2H'12 trading plan with a high note!......Excellente!! ...... ~* ^_^ *~

Will keep a neutral mind as I work through my trades for August.... Have been relaxing since both FKLI & FCPO was moving sideway throughout the first week of August. CPO has broken out of the sideway channel as of writing & I can go back in to trade again!   \(^o^)/ \(^o^)/ \(^o^)/

Hereon, I'll be quite tied up with my trading progress to pave the way for my "retirement" from employment....

Thanks for the support from my readers & I'll continue to share whenever I can.....

End Sept'12, I'll be free from the cage of employment & I could soar into the endless sky!

Looking forward to my next post on my coming SUCCESSESsss!!
Happy Hunting!! :)

What will u do if you're The Fed?

Found this on MarketWatch....Just a quick share before we hear from Bernanke later tonight.

http://www.marketwatch.com/story/what-should-fed-do-see-charts-and-vote-2012-07-31#

It gives a quick view on the current economic state of US....
Take a look & cast ur vote! Then we shall gauge better if there will be any QE in the pipeline....

Enjoy! :)

My Trading Journey - How & WHY I Trade?

Hi all.

Had a rough week since I last posted. Did a bad trade hence took some time off the market to clear my mind & reinforce my trading knowledge & psychology.

At times, over-analyzing a trade is tiring & confusing, the best thing to do will be to detach oneself from the market & charts.

Once back with a refresh & neutral mindset, market will still be there with its tons of $$ opportunity!

While I'm away from the market, have been receiving encouraging mails from my blog readers, from various backgrounds.

Many had been asking why & how did I left engineering field & took the trader's path/ became a stock dealer. Some would like to learn more about trading, to make that much needed extra income in this low pay-high living cost society.

Glad to know that many have been exposed to this lucrative business through my blog! :)

So, today will share a bit on my background, & how I've come about to be a trader. Hope that ordinary Tom, Dick, & Harry out there will be inspired by my trading journey.

Those who has the best interest to learn more about this business will find that any ordinary people can acquire this money making skill, provided that they have the determination & persistence to learn & practice.

So....

After my graduation...

I went to teach in Monash, School of Engineering......Work hour was flexible & light, a work week in Monash is almost like a 2-day work at my current job as a dealer. Plus, my pay was as lucrative as u CAN'T imagine a fresh degree grad can possibly get at his/her first job.

That was 2010 when everybody was into forex trading, all major markets were in a magnificent bull run after bottoming out from sub-prime plunge.

Being super-free, I started to look into FX trading which mainly focus on all kinds of macroeconomic news around the world & also, CHARTS.....

I dig into all kinds of free info online & offline about FX trading, online tutorial, online chart school, forum, FX books, free preview, paid course.....almost ANYTHING I can find in the market. I started trading on demo accounts on MT4 platform, foreign brokers from dunno-where.

Got to know a dealer from a local broker house dealer since my Uni years, I started to trade on stocks, instead of FX. Due to FX higher starting cost & troublesome account opening procedures.

For about 1.5 years, I trade stocks in & out, most of the time doing contra, using purely charts, while I tried very hard to understand those financial reports.....I basically match each & every figure to try to find out how the EPS or PER, etc was calculated & hence, what they really mean or represent.

I trade stocks using charting techniques meant for FX trading, just to find that I keep on win-lose-win-lose, & eventually back to square, or worse, had my account wiped off.

In the end, almost all my salary from Monash was donated to the market, or to the various trading course organizers.

Then I started to wonder whether there's something missing in my trading. I began to look for ways I can get myself into the financial industry itself, thinking that I will learn more being in the heart of the industry.

That is how I signed up for a prep course for the licensing exam which partners the industry players for job opportunities. That, together with a failed tuition center business, cost my very last portion of 'reserves' from my first job.

Finally....I got myself into one of the local Investment Banks, IBs, as a company dealer. I was so excited about this new job, I hardly even cared about the low-low-low salary I will get. I thought, well, I'm working for my passion, not for the money....

A new industry, opening the door to more knowledge from the 'inside'! That was my very initial feeling when I first started this job.

Then....

It dawned on me that I've probably OVER-IMAGINED the greatness of being in THE industry. I found to my shock that I can't really find the knowledge I'd like to learn from people working around me. I suddenly realize that MOST of them in dealing are WORKING FOR A LIVING.......

If you haven't get what I mean, they hardly have the heart to learn more about investing/trading, they work 9-5 & talk about 'hot tips' for speculative counters, they do marketing to rope in more clients.....Don't get me wrong, they didn't do anything wrong, but they are merely working for their rice bowl! I'm not saying they aren't good, but most of them are just ordinary people who will hardly give up a steady paycheck to become a trader with no 'JOB SECURITY"......

But to me, there's no such thing as a 'job security'..... I'll come back to this later .....

I know I might offend many people by saying that, but it suddenly snap on me that I'm a TRADER, & that's TOTALLY & COMPLETELY different from being a DEALER, I've just spent tons of money getting into a job that don't seem to help much in my trading!!

Last thing I know, I'm passing cheques for clients, & discussing the index movement with some them, while they ended up buying speculative counters! ... ... -_-///

I almost died crying the first few weeks at my new job.....

When it comes to charting, the most common practice is to ask the clients to look at MACD....

Buy when MACD cross-up, Sell on cross-down

I bet you have all heard that....But the statistic shows that if you follow that, PURELY that & nothing else, you will lose almost 70% of the time, & profit only 30% of the time, or even an '80lose-20win'!

I have to SOLEMNLY tell each one of you reading this article, THAT IS NOT CHARTING !!

Being ignorant enough to signed a 1-year contract, given the fact that my current employer did not ever spend a dime on training me, whatsoever, I was forced to stay with the company until the contract ends.

However bad was the decision, no doubt I found some comfort from my new circle of friends in the company.....After accepting the fact that I'll have to stay, I manage to look at this job from another angle & try to influence as many people as I can to learn more about this trading business....I enjoy helping those who are willing to help themselves. Being a salaried dealer is really an unfair position as you see a big chunk of your sales being reaped off by the Bank while you only get to keep a tiny portion of it, that is if you hit the sales target they assigned on you.

I am willing share as far as I could, as I probably had mentioned somewhere before........fresh grads at entry levels of various industries in our job market is barely surviving under tough environment with low pay & high living cost......That's why CONSCIOUS youngsters are ALWAYS in pursue of additional income sources....be it MLM, second job, overtime, or FX trading.

I, though still not an expert, do have some knowledge to share & I really enjoy helping people to achieve their financial goals....if they would really SERIOUSLY like to learn more about TRADING....especially COMMODITY/FUTURES trading...... That's why I started this blog, I would like to share, & at the same time ATTRACT like-minded friends to form a TRADING COMMUNITY, one complement another in this trading business.....LEARNING never ends.....

Coming back to JOB SECURITY.....

One of my colleague recently got promoted (up a step on the corporate ladder), after 4years of service in the company.....A rough guess is he probably got about 1k+ or a 30% increment, over the last four years......

As far as a can remember, a loaf of white bread was selling at 1.70 (4 years back), now they cost you 2.40/loaf. Let's take that as a benchmark to say there's about a 40% inflation in food prices.....I bet you can decide which one grow faster, the salary or the living cost??

.....there's NO security.....

One of my more senior colleague has been in the industry for 20years, earning 5-figure/month, can hardly forked out money for the family when there's an emergency need......& at last check, the bank does not cover family medical expenses, no matter how senior is your position.

......there's NO security.....

Anyway, to me, working for a corporation, & diligently climbing up the corporate ladder, does not guarantee any FINANCIAL SECURITY........

I'm not someone who will sit in the same office for 20 years, only to move from open cubicle to a private room.....I don't see how that's a SUCCESS? If you hardly have time for your loved ones, or could hardly provide for them when they have a need?

To me, SECURITY is knowing that I have the knowledge to make a living WITHOUT having to depend on a corporation, or a never-coming increment, or whether my boss liked me or not......& at the same time, I have time to provide for my loved ones/family/friends/society.......That's my SECURITY!

I know I will be able to provide for those I care for, faster & more realistically, through TRADING & other businesses, not by working for a corporation for 20 years or more.....

Anyway, I'm not advocating that each & everyone of you to fire your boss right away on Monday......I'm just presenting an option for those who are interested to find more security, psychologically & financially, from whatever I have to share in this business. Remember, this skill can be learned!

For those who will spend an extra effort to learn more, let's start you with some SHOCKER entrees:

Knowledge is money, below is some interesting facts about the world financial system which average malaysian hardly know/ don't give a darn about. Hope that they will open up ur eyes & your mind & gives you a new perspective about money:

Goldman Sachs control the world?
http://www.rollingstone.com/politics/news/the-great-american-bubble-machine-20100405

http://www.youtube.com/watch?v=aC19fEqR5bA&feature=player_detailpage

SUB-PRIME CRISIS - Why & How it happened?
INSIDE JOB - http://www.imdb.com/video/imdb/vi751502873/

Last but not least,

A real full-time trader - what he does & how he do it?
www.conradalvinlim.com

A special thanks to Conrad, for his kind coaching, who has inspired me & many others to come into this business, that it's possible to make a living from trading....

I WILL be able to help more people like him in future.....:)

Have an UNFORGETTABLE weekend! Gracias! Will post more on my bad trade in my next post, learned a lot!

Joe Dinapoli was an Engineer! LIKE!! :))

Futures Trader Joe Dinapoli Faring Well in a Tough Business by Jim Wyckoff (Note: I wrote this story a few years back, when I was a journalist with FWN.) Achieving success as a futures market trader can be a daunting proposition, most traders will agree. Given that premise, why would a successful, longtime futures trader like Joe DiNapoli reveal his trading secrets to the public?

“Commodity traders tend to be risk-takers--self-made people. I enjoy them immensely. The public doesn’t realize some of the advantages you receive by teaching your successful methodologies,” said DiNapoli, president of Coast Investment Software, Inc., in Sarasota, Fla. He is in New Orleans speaking at the “Tag XVIII” traders conference, sponsored by Dow Jones Telerate. His topic is Fibonacci ratios and displaced moving averages.

“Obviously, there’s the money that one can make from selling a (trading) system or teaching. But the contacts you make--literally around the world--couldn’t be bought at any price. If you have something worthwhile to say, exposure also gives you access to other professional traders, and that access cannot only be intellectually stimulating, but it can be financially beneficial. You can fine-tune your trading methods by brainstorming with others,” he said.
DiNapoli has given trading seminars all over the world--in major centers in Asia, Europe and the Middle East. In 1996 alone, he’s spoken in over 20 different countries.

A book due out in January, entitled “Trading Systems: Secrets of the Masters,” by Joe Krutsinger (published by Irwin Professional Publishing), has an extended interview with DiNapoli.
In 1967, DiNapoli finished engineering college and began seriously trading. “Back in those days, I was dealing with low-capitalized, small over-the-counter stocks, where you’d lose 15% to 25% just in the bid/ask spread.” He started trading commodities around 1980.

“My educational background is electrical engineering. Of course, I really didn’t like engineering, but that background has been an unbelievable help to me as a trader. Good engineers think in structured patterns. That’s the way I think--disciplined and structured. “At this point, I trade my own account. I don’t manage money and I don’t want to. I teach and have a software company...” DiNapoli has been a registered CTA since the mid-1980s.

“The trading techniques I use are substantially different than those used by other people. I mix leading and lagging indicators and interact with prices based on that approach. I use certain lagging indicators like Displaced Moving Averages and the MACD/Stochastics combination, to determine the trend.

Displaced Moving Averages allow a trader to shift or center the moving average on a price chart. A trader specifies the length for one or more moving averages, then selects the number of intervals to displace the moving average.

Moving Average Convergence/Divergence (MACD) uses exponential moving averages, as compared to the simple moving averages used in an oscillator study.

“Once I’m in a trend, I use Fibonacci analysis as a leading indicator--to position myself within that trend. The last step is to take ‘Logical Profit Objectives.’ Those profit objectives are calculated by certain Fibonacci techniques.”

DiNapoli has spent a lot of time developing his present trading system. “I use Displaced Moving Averages, for example, in very specific and unique ways. I think I’ve really done my homework on that one--about three years worth of research in the early 1980s. During the mid-1980s, I spent another three years or so determining the most effective method to utilize Fibonacci techniques.

“I think I’ve done a good job separating the best from the good, or average. Sometimes it’s not a matter of developing a brand new indicator. It’s a matter of utilizing an existing indicator in a more effective manner. For example, instead of using standard moving averages, I use Displaced Moving Averages.

“In fact, back in the mid-1980s, when I started speaking about this, there weren’t any computer programs out there available, except our own, that would displace a moving average. Prior to that, some people used the opens, instead of the close, to determine the moving average, so that they would know what the moving average value was before the end of the day.

“When you displace a moving average, say, five days, you know what the moving average is going to be up to five days out. There was no longer any reason to use the open. Unfortunately, many of the graphics software programs that displace moving averages don’t show them past the last day’s price action. It’s an example of programmers creating trading software, rather than traders.”

DiNapoli’s best and current trading system is an approach he has used continuously for years. He buys dips in an uptrend and sells rallies in a downtrend.

“The lagging indicators allow me to determine trend. The leading indicators, primarily Fibonacci analysis, allow me to safely place myself within that trend. I use ‘Logical Profit Objectives’ continually and I have oscillators that are used as filters, to keep me from entering in the direction of a trend which is too dangerous to bother with.

“I also have about eight trading patterns or conditions which act to give me the direction of a market. If they are in conflict with the trend analysis, I always go with what the patterns are telling me.” On timeframes he uses when trading, DiNapoli said, “The approach I take to the market is exactly the same--whether I use monthly charts or 5-minute charts. In 1980, I was trading primarily daily charts, and in about 1983 I went down to the 5-minute world.

“I could learn more and develop my approach more quickly in the 5-minute world than on dailies--particularly relative to Fibonacci analysis. So, in the development phase of it, I gained more experience in less time, by trading 5-minute charts.

“I went through this development process by actually trading--not theorizing. I think most good systems should be applicable across timeframes. If they are not, it’s a red flag.”

Stepping back from the markets on a regular basis is paramount, said the veteran trader.

“I will tell you one thing I try to do every single day that affects my performance as a trader: I think, at least for a few hours a week, every commodity trader should do something that he or she really enjoys. Something that does not involve the markets or the computer.

“I like working with my hands. I restore classic cars, things like that. You need to be able to settle the mind and avoid all that frenetic activity. The graveyard of past traders is littered with those who couldn’t get the needle out of their arms. Markets can destroy you emotionally, physically and financially. You must keep perspective.

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Source: http://www.traderplanet.com/newsletter_articles/view/7604/distribution:7