Guide for New Members

Welcome! My name is k1, and I'm a member of PSW just like you. I've taken it upon myself to update the New Members Guide to include a number of information resources you are likely to find yourself needing very soon. The original Guide follows just a few short paragraphs down this page.

Remember - on this site and in our virtual portfolios ALL trades that are discussed are VIRTUAL trades and all virtual portfolios kept are VIRTUAL portfolios.  While we do our best to track the performance of various trade ideas in order to better understand the results over time - it is for educational purposes only, in no way, shape or form should you consider these to be actual results and you should never execute any trade idea that is discussed here without consulting a professional financial adviser.

Many new members join PSW without a solid background in options, which is often discussed during member chat. This is not a problem (that was me when I joined) but it does mean you have some extra homework ahead of you to start to understand the discussion in the daily comments. If you are new to options, you will want to start out with the OptionSage's book, and also dig into two helpful websites:

Sage's book provides a fast, succinct background in option fundamentals and describes in great detail a number of different option trade structures, how they work, and when to use them. Especially if you are new to options, you will find it to be very useful. You can download the PDF to your machine and keep it handy at all times.  For additonal options education, we strongly recommend Sage's web site "MarketTamer," where they have low-cost training courses and 3 free lessons for our members (use the link).

Investopedia is a great all-purpose encyclopedia for many of the arcane trading terms you will encounter here. iVolatility is a specialized site providing HV and IV for stocks and options. It requires you to sign up for a free membership, but is worth it. There are other sites that also provide good tools, but the three recommendations above are important for getting started.

Your second assignment is to recognize that Phil's core trading strategy is unlike strategies you might have seen in other places, and will require some study even if you are a seasoned options trader. In daily conversations, the experienced traders on the site talk about investing significant time each day and weekend to reading, studying, and preparing. It is not unusual for traders to put in an extra 20 or more hours a week. What this means for new members is that you need to plan on and allocate some time and energy to studying up on what Phil does, how and why he does it, and who the other members of the PSW community are and what they have to share.

The standard assignments:

  • Read 1 full month of posts, both Phil's twice-daily articles as well as all of the comments
  • Read Option Sage's articles under his tab, many were co-authored by Phil and highlight various option stratgies with real-world examples.
  • Watch The Man Who Planted Trees, a short video about that Phil often refers to to characterize a proper investing mindset.  Warning:  The more impatient you are watching it, the more you need to watch it! 

Reading a full month of posts is important for a couple of reasons. Not only will it introduce you to who the rest of us are, but it will introduce you to the questions other new members are asking, and give you a chance to see the different kinds of market action that happen over a month.

It is extremely important that your month of comments include an options expiration day (opX). And if you don't know what opX day is, you can ask Investopedia.

This may seem really tedious, because after all, you didn't join this website to be given homework! But there are two key factors at work here. First of all, Phil teaches that trading is a job, and a profession. As such, it has its own jargon, its own nuance, and its own complexity. The only way to become familiar with the profession is to advance through the stages of mastery. So for your own success, study is key.

The second point is even more significant, because it defines why all of us are here. Phil's goal is to teach the members to trade, and build up a community of sharp traders capable of taking on the markets. In Phil's vision, we become a high performance team, working together to spot trends, identify opportunities, and avoid, hedge, or avert failures.

Phil: There’s a lot of hard work involved in trading normal markets and that’s what I want us to have - a world class team of traders who work like a family because we can learn to trust each other and play off each other’s strengths.

In addition to these homework assignments, there are some smaller details that help keep order in the comments action, serving as "ground rules" for the daily action.

  • During market hours, please restrict comments and questions to market-specific topics. These include trade-specific clarifications and suggestions, broker issues, virtual portfolio-impacting or market-driven events. Phil also tends to discourage multiple-part essay questions, especially when things are hopping.
  • After market hours there is much more room for broader questions, revisiting complex trade setups or strategies, and political discussions. And though this should probably go without saying, even in heated political discussions, there is no place for attacks on other members or their views.
  • Often you will want to share something you found on the web with other PSW members. The comment box at the bottom of the page has a special Add Hyperlink function for doing this. Please link us all to items you find rather than copy/paste dumping them into the daily comment flow.

Finally, even though you're excited to have joined and chomping at the bit to get trading, we would recommend that you consider spending a little time getting oriented to the action during the day, and not jump right in and put actual money into a position or trade. Especially if you are learning, you could end up quite confused if you tried to follow every trade. A demo account with a broker is a great way to get acquainted with Phil's strategy, the PSW community, the flow of the market, and your broker's platform capabilities for placing trades, rolling options, and managing your virtual portfolio.

One last thing to consider is posting a small bio about yourself on our Introductions page. It's not required, but a chance to tell us a little about yourself.

That's all from me for now, you'll be getting your fill in the k1 project. Now back to your regularly-scheduled introduction to PSW. - k1


Thanks for joining. To make the most of your subscription, you should know the following things:

  1. There is a virtual portfolios Tab.  Phil does not keep a running virtual portfolio. Optrader does under his tab for short-term trades.  Phil generally keeps a buy list where one trade per month is made on each of the key stocks we are following.  During intra-day chat and through alerts (free to Premium Members) over 100 additional trade ideas are put up for members each month by both Phil and Optrader as well as some of our key members.
  2. Every morning Phil writes an article including market analysis and trades for the day (if any), and he posts it here before the market opens. The morning post includes picks and commentary that aren't provided on our free blog, and posts at the members-only site appear several hours before they're available on our free blog or at Seeking Alpha. Read the post through carefully (especially the latter half where the picks are) to know what the trades are. Phil usually posts picks in this format: Ticker - Expiration - Strike Price - Entry Price. For example: XYZ May 30s for $1.10 or better. Note: unless a pick indicates to buy puts, then by default it is recommending calls.
  3. Trades and adjustments are always made first in the comment thread to the most current post.  The Intraday tab is only updated at our convenience, often after the market close or later, and is for recording purposes.  At the end of each post, you'll see a link to the comment thread for that post (just click where it says "Comments"). In the comment thread to each day's morning post, Phil often posts trade ideas and analysis of that day's market action. Our active members also post their own analysis and trade ideas, and questions or comments from new members are always welcome. You can follow along throughout the day by scrolling to the end of the comment thread. New comments should appear automatically without needing to refresh.
  4. If you're not big on things like community and camaraderie, and just want the tradable intraday goodness, you can sign up for Alerts from Phil, Optrader or the Oxen Group to see the trade ideas and virtual portfolio moves they decide to send out during market hours that day.  For the most recent and complete real-time trade ideas and watch levels, always consult the comment sections - do not just rely on Phil's Alerts as they are only a small selection of his daily trade ideas.
  5. Be sure to read through our Strategy section at your leisure to get a sense for how best to trade Phil's picks.
  6. Also, don't miss our Education section, which features a spectacular ebook, Secrets to Explosive Stock Market Profits, that is sure to help you hone your investing/trading skills.
  7. Our Virtual Portfolio section has our famous "Buy List," where we track longer-term trades and major articles on trade ideas can be found there as well as in the "Education" Section.
  8. Peter D has put together a link guide for following his "short strangle strategy" - more advanced but well worth considering!
  9. JRW is our resident day trader and specialized in trading the Russell (IWM, TNA, TZA) utilizing his patented Pivot Point Strategy.  
  10. Finally, you may login from our free site in the form titled 'Members Login,' or by going directly to http://www.philstockworld.com/members/. To make changes to your account information, update your email address or password, or to view or edit your subscription status, just go to http://www.philstockworld.com/amember/member.php.

Again, welcome, and if you have any questions don't hesitate to ask.

 
 
 

Zero Hedge

Three Shot In Times Square Including Four-Year-Old Girl

Courtesy of ZeroHedge View original post here.

New York's Times Square was temporarily cordoned off on Saturday after at least three people were injured in a shooting, according to NBC News, citing police. The suspect, pictured below, was caught on camera.

Earlier today, 3 people were shot in @TimesSquareNYC, including a 4-year-old child.

Help your @NYPDDetectives identify the man pictured below — they want to talk him about the incident.

Call...



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How big is this crypto boom?

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Here is a five year trend for the phrase "how to buy stocks" for the USA.

 

It has two peaks, one at the height of t...



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How big is this crypto boom?

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Google Trends doesn't predict stock market rallies, well somtimes it does. But more likely it is coincident with them, the suckers at the end of the boom being the biggest (yet) wave of retail buyers.

Here is a five year trend for the phrase "how to buy stocks" for the USA.

 

It has two peaks, one at the height of t...



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India COVID crisis: four reasons it will derail the world economy

 

India COVID crisis: four reasons it will derail the world economy

India is the fifth largest economy in the world. Deepak Choudhary/Unsplash

Courtesy of Uma S Kambhampati, University of Reading

The second wave of the pandemic has struck India with a devastating impact. With over 300,000 new cases and 3,000 deaths across the country each day at present, the total number of deaths has just passed the 200,000 mark – that’s about one in 16 of all COVID deaths across the world....



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Yellen can not stop the dollar decline

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Printing money results in a lower currency, so long as the currency does not fall too fast.

Previous Post: US Dollar Forecast - Weakness

Here are the very strong fundamentals for a lower US dollar: 

(a) US inflation exploding.
(b) Massive US twin deficits.
(c) Better conditions in Europe.

However French election worries in 2022 Q1 and Q2 may provide US dollar strength (via European weakness) after Christmas, but this strength may come after a low in the DXY near $84.  

It looks like Yellen knows a down swing in the US dollar is near because ...

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If China's middle class continues to thrive and grow, what will it mean for the rest of the world?

 

If China's middle class continues to thrive and grow, what will it mean for the rest of the world?

Over the past few decades, hundreds of millions of Chinese citizens have become part of the middle class. AP Photo/Ng Han Guan

Courtesy of Amitrajeet A. Batabyal, Rochester Institute of Technology

China’s large and impressive accomplishments over the past four decades have spurred scholars and politicians to debate whether the decline of the West – including the ...



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Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Will Historic Selloff In Treasury Bonds Turn Into Opportunity?

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Improving economy? Inflation concerns? Perhaps a combination of both… interest rates have risen sharply and thus bond prices have fallen in historic fashion.

Today’s chart looks at $TLT over the past 20 years. As you can see, the recent decline has truly been historic. $TLT’s price has swung from historically overbought highs to oversold lows.

At present, the long-dated bond ETF ($TLT) is trading 7.8% below its 200-...



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Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

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The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

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Promotions

Phil's Stock World's Weekly Webinar - March 10, 2021

Don't miss our latest weekly webinar! 

Join us at PSW for LIVE Webinars every Wednesday afternoon at 1:00 PM EST.

Phil's Stock World's Weekly Webinar – March 10, 2021

 

Major Topics:

00:00:01 - EIA Petroleum Status Report
00:04:42 - Crude Oil WTI
00:12:52 - COVID-19 Update
00:22:08 - Bonds and Borrowed Funds | S&P 500
00:45:28 - COVID-19 Vaccination
00:48:32 - Trading Techniques
00:50:34 - PBR
00:50:43 - LYG
00:50:48 - More Trading Techniques
00:52:59 - Chinese Hacks Microsoft's E...



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This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

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The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. Contact Ilene to learn about our affiliate and content sharing programs.