Sunday, November 16, 2008

Thank you, Frankfurt! And, the naysayers!

Had a great time in Germany at the World of Trading. My sincere thanks to all the wonderful people who showed tremendous graciousness throughout my short stay. I felt at home and I am grateful. And, big thank you to Oliver who showed me around town and (over)fed me some very good food! I ordered like a New Yorker and they looked at me like I was nuts, hehe. I didn't realize that food portions could be so HUGE! My eyes were definately bigger than my stomach!

I'll tell ya, it never ceases to amaze me at how wrong I can be about some things in life. I thought I was just gonna fly in and fly out, but the people here were so warm, contrary to some things I've "heard" over the years. And, its remarkable that perceptions are so off sometimes. I think that expectations are the birthplace of all downers. I wasn't expecting much, and so I had an amazing time. Also, we truly are all in this "thing" we call life together. People everywhere are suffering from this economic malaise. Unemployment, discontentment, fear are everywhere. People who were previously flourishing are struggling and worrying about how they are going to survive without their jobs, or best case often a severe pay cut. Or, if they have job "security" they wonder and worry it won't last. It's unfortunate, but I do think that while it can bring out the worst in some people, it can also bring out the best in some as well.

I met some newbies at the Expo and they were excited to embark in what I think truly is the best job you can have - trading! You all know why, I think, by now. You make your own job security if you can master it, with or without our help. I'm grateful I got to meet and work with so many very new and very excited soon-to-be successful traders! Welcome here, I know a few of you have already written me and are reading this! Guten Morgen!

I want to address something, this is something that over the years I've dealt with, particularly when the market is getting crushed as it obviously has been. When the market is going down most people get hammered, whether they are investors or traders both. This market isn't easy, and while I boast of victories and I do believe that this is a GREAT market to trade, I hope I get across also that it's not like I make money on every trade, or even every day. That's absurd, and I want to be clear about that. We have a ton of traders ROCKING, but we of course have some who haven't quite figured it out yet, or are still investing and thus there is little I can do to help them. Having said that, when the market is going down I usually get "hate" mail. I find it childish and honestly feel sorry for the sender most of the time (though I've had threats against my well being and my families, which I take very seriously). Usually people are angry at someone outside themselves when they are struggling, so it's sad. Here is one I got today, it's a VERY sedate one compared to a couple of recent ones. I'm posting it because I'm kinda annoyed getting these absurd emails saying that I don't do this or that. My job here, in my view, is to help traders make money and build confidence, and, yes, at times, boast of my prowess and my clients prowess as traders. If I didn't honestly believe and frankly KNOW that we can help people make money, I wouldn't be able to show up for work every day. We've been doing this for a LONG time, over 10 years now. No matter how much I may brag, or tell you all I rule or whatever, if the proof wasn't in the pudding we wouldn't have any clients, let alone be THRIVING in what everyone else proclaims a horrible market. The feedback we're getting is that MOST of our clients are ROCKING. I know I've been rocking. I have proof of that, and I don't need to lie to sell our services, I always suggest YOU try us for a month and if you don't make money, ok, you didn't cost yourself much and you bettered yourself no matter what because I believe anyone we do in life is a step toward LIFE, or death. Making an active choice to try something new is clearly a choice toward life, even if it doesn't work out the way we'd like it to. Trading isn't for everyone, but I believe its a great way to earn a magnificent living, make your own hours, be your own bos and RULE your own life! The naysays, keep the nasty emails coming, there's an old saying, I like it a lot - resentment is like pissing down your own leg, YOU are the only one who feels it!

My best to everyone, even those that doubt the TRUTH. I LOVE THIS MARKET, try the chat room or Options Trader and you'll love it, too!

Oh, one more thing, we have a TON of German clients, I'm so grateful to have met you all! Special shout out to Patricia, thanks for your hospitality as well. And, again, to Oliver, who is a good man and a special friend from here on in, you are always welcome in my home when you and your family make your way to New York! Keep on rocking with your warrants on GS and God Bless!

And, for you Rich, here ya go, you get your letter, which I appreciate as tame by most standards. Hopefully this post addresses your concerns. For every $5 MIL a good trader makes, he probably has $4 MIL or more in losses and shows a $1 MIL or less profit. THAT, my friends, is trading! You don't win them all, it's not a spring, its a marathon, but if you master it, you can make one helluva livin'! RULE ALWAYS! Oh, and for the TON of testimonials, keep them coming, I obviously like hearing those and get a LOT more of those then these ! RULE! WAXIE


Have you ever owned your losses/mistakes? This has to occur in a market as volatile
as this one, however, to admit such would be too much of a narrcissistic blow for you.

Happy Trading



Brenda said...

Waxie - I have never posted to any site before but feel compelled to respond to Rich regarding his comments that you posted. Rich are you new to all of this? Have you not read any of Waxie's past postings or taken any of his classes? He always owns up to and admits to his unsuccessful trades and/or calls. He always cautions everyone to vigiliant in their trading because there is no guarantee on his calls. Don't know where you are coming from Rich????


Rich said...

Hi Waxie,

I have found often in life that people who like to blame others for things are usually guilty of the exact things they like to blame others for. I have been a Trendfund member on and off since 2003. I have seen and traded many calls of yours over this time. Some have been profitable and some have not. Regardless, the responsibility to push the button to make the trade always lies in my hands and I never blindly make the trade. I use my own knowledge to determine whether the trade is right for me. As far as I am concerned, to see it any other way is irresponsible. Those that write with blaming attitudes toward you should not be trading until they learn to be responsible for their own actions. After all, they have no obligation to subscribe to your service or take any trade that you call.

Over the years I have learned a tremendous amount of knowledge from paying attention to you and Tiny and feel great appreciation towards both of you for it.


A different Rich

Oliver said...

Hallo Michael,

I feel privileged that I met you here in germany and for the inspiring dinner with you.
It was a real pleasure and I am thankful for all the Ideas I got from you.

You are such a honest and intelligent person...and despite your tremendous sucucess in the field of stock/option trading, you are the totally antonym of a vain person. That was impressive to me.

I feel deeply honored that you call me a special friend and for your invitation when my Family an I will visit the USA.

God bless you and your beloved ones...and due to your Option Plays of the Week and your amazing blog I will definitely rule this freaking markets and especially the gs-puts (like before the puts on fnm, fre, pot, gm etc.)!

TRADER'S GOD said...

waxie, so when you will come to jakarta (indonesia )??, i owe you a big big dinner. (lol)

Jeanne Mancuso said...


You should come to Boston and let me take you and my cousins out to dinner. (Restaurant of your choice) What man wouldn't want to be taken out by 3 ole married ladies?

You'd probably be grilled on the $50,000 wife quest. :)


Patrick said...


Just a friendly comment that you should read Rich's post again. He was paying Waxie a compliment, not accusing him of anything. Rich was pointing out that, good or bad, following waxie's calls was his own responsibility, and that others should view it the same way.

Just clearing up a misunderstanding.