Buy It Buy It Sell It Sell It.com - Learn How to Trade with Jerry Olson

I just finished reading the Sunday News Letter, and was thinking back on the other Daily and Weekly letters you've sent out.I just wanted to drop you a note and say your ability to read the markets' sentiment AND movement is amazing.
Over the years I have spent (no exageration here) hundreds of hours reading and studying the "so called" experts and their predictions.
Their analysis is always vague enough that they can claim to be right even when they are clearly wrong. Your's is the only analysis I have found that is written by a real trader. You clearly state your position and the reasons for it then you act on your own analysis every day,
Live, Real Time, with real money, in front of a group of people in the room. That is pretty unique.
I recognise that I have made no contribution to the room so far and that my performance as a "scalp trader" is to date, a net loser with
a pretty pitiful performance record. I may never master your method of trading the markets (that's not a prediction), but whether I do or not, I appreciate the insight and perspective on the markets that you have shown me through you news letters, and each day in the room.
See ya in the room Thanks Terry McDaniel Terry449

Jerry-

I thought I would share some of my success with you and the group. I will let you decide whether or not to share.

I have been in Jerry's room on and off for about five years. When I first began to trade, I did not trust Jerry's calls. I thought that I could do it on my own. I would enter a trade with no technical reason for entering. This was pure madness and led to disaster. I wasn't using stops and when I would lose big I would try to make it up immediately and lose more money. Summer of 05, we were trading SNDK and I was not using stops, within two minutes I was down $1,000. I was hoping that it would come back to my number so that I could get out. It did not happen. I took the loss. Instead of a $100 loss that I could make up, I took a $1,000 that I could not easily scalp back. When we stay in a losing trade, we just stare at it, we miss out on other opportunities, we are at the mercy of the market, we have no control, and we are no longer trading.

Over the last year I have dedicated myself to studying the charts and learning technical analysis. I am using stops now religiously. I am now recognizing patterns and the charts and will sometimes be focusing on the same trades Jerry is before he calls it. I was profitable last week in that market. The main point to this is that you need a plan to trade. Follow your rules. Listen to what Jerry is saying and follow his training. After five years, I can tell you that Jerry genuinely wants to see you succeed. Imagine the possibilities of being free of your job and trading consistent on a daily basis. This is my motivation. Here are some of the rules I have developed for myself.

I must have a technical reason for entering a trade.
I always must use protective stops to preserve capital.
I always exit a trade to early. Don't let it evaporate.
Don't trade off of message boards.
Don't trade during the dead zones (lunch).
Don't trade low floaters - they will hurt you.
Follow your plan.

Point is that Jerry's teaching along with strict discipline works. Osmosis works. Listening daily to Jerry's commentary has trained me to do as he does.

Anyway, I hope that this will help some of you that are new or struggling.

See you tomorrow,

Wes

From: <peterlaw@adelphia.net>
To: <jerryo34@verizon.net>
Sent: Monday, October 17, 2005 6:34 PM
Subject: Many Thanks

Dear Jerry,

I want to express my sincere gratitude and appreciation for you honesty, integrity, and most of all your trading expertise. Sharing your very private information with the group was a very honest thing to do and was in no way "demeaning" as you may have thought. I believe you have the absolute trust and respect from most (if not all) the traders in your group. What's missing for most of us (imo) is the discipline that you pound into us daily. I'm working hard to adopt that discipline, and honestly, I believe it's working even though I had a less than average day. I believe I will achieve my daily goal simply by following you and others that are extremely knowledgeable traders in the room. I don't expect to acquire the knowledge and expertise you and some of the others have, but I'm a willing and capable participant, and I truly enjoy the experience. I feel that you are almost chastising me for not being there already, but honestly, except for the 10:1
leverage that is very advantageous, I can't switch at this point. I'm comfortable with my Scottrade trading platform because my fills are right behind yours. I'm successful to the extent (relatively) that your are on the winning side only because I'm right behind you. My stops blew me away today,
I don't have the luxury to hold and I'm trying to discipline myself according to what you teach - .20 stop loss!

So, while today was a wash, it leaves me with confidence that I'm almost there, and as I said before, once I prove to myself that I can be profitable on a weekly (not daily) basis, I will continue on. You have my deepest trust and respect.

Warmest Regards,
Peter

P.S. Hope you enjoyed your sacred holiday, I know it was a sacrifice to share yourself with the group, but that just demonstrates your dedication to the group.

From: Ian H

To: 'Jerry Olson'

Sent: Friday, October 14, 2005 1:02 PM

Subject: Just a short Note

Hi Jerry,

Just a short note to thank you for this week. I finished every day in the plus this week, and that is thanks to you badgering me to take profits when they are there.

I can’t remember the last time that I had a full week of +’s. Long may it continue.

I am going out with my wife tonight to celebrate, so will not be in the room later.

See you Monday, and thanks again. You are the best!

Regards,

Ian

I wanted to take the time to express my gratitude for your generosity in sharing your trading knowledge and experiences. I’ve been struggling with trading for over 4 years and finally found a mentor who makes sense of trading. His name is Jerry Olson!

I look forward to soaking up your class information and initially trading on paper to gain experience and confidence. It seems I have slipped into many bad trading habits which need to be fixed…many of which you mentioned on the first night’s class. Paper trading should help rid me of these and allow me to practice your trading rules, strategies, ideas and concepts.

And, you may count me in! I will definitely become a member on your website and will be attending your Wednesday night classes.

Thank you for all the work you have done to create your website and these classes. They are jam packed with information to assist your students to consistently trade successfully. This first class has been very enjoyable and valuable to us traders.

Jerry, Having been a member of your room for over one year, and having enjoyed my involvement,for the most part ,I do have some observations I'd like to share:

The person who provides the clearest explanation of the markets each morning (when he does them) is YOU...

Do you see a pattern here?... I am in the room not to listen to Gold or George or SteadyEddy or Road ...

You, Jerry, I am in the room because I enjoy your insights, your humor, your enthusiasm, your knowledge, your skill, your trading!!!!

A couple weeks ago you added a few options and increased your prices... this following two months of allowing God knows whom to come into your room and disrupt it...

I don't give a frig about the Mirc room.. I am a simple trader that enjoys following the most successful trader I have ever known and that is YOU....

I have no problem whatsoever with you in the room until 10:30 or so and in the p.m. after the mid day doldrums.... You don't have to be in the room for longer than you think fair to your subscribers!!

In fact if i had my druthers i would like to see you hire Barb to do her typing input and her running commentary and you doing your thing... I would be perfectly happy and i bet you SO WOULD A LOT OF OTHER TRADERS...

Jerry, if you provided one or two set ups for swing traders, one or two for scalpers and one or two investment trades per day THE MAJORITY OF US WOULD BE PLEASED AS PUNCH....

If you explained what your were doing and had done the newbies would learn, the grey heads would make money and you'd have a lot of loyal subscribers...

Man, I brag on you!! I think you are terrific but I fear you may have cut the goose that lays the golden egg's neck!!!

Why don't you provide a couple subscription options and /or at least provide your subscribers a survey and opportunity to tell you what we like and don't like.... the worst thing for me is analysis paralysis --too much info will do that to lots of us.

Hello jerry i have never been happier trading. i am trading 3 accounts and up right 10% average on all three accounts. if i could keep this up for the year would be around 74%. the room is great. i have found that i trade a little different than you, but i use your rules. it took awhile to break the double down habit. it gone now. i tend to swing trade more, but the entry is based on btl or sst.. if the trade develops into a swing; i double check with dorseywright and make sure that chart pattern is positive and what are the odds oh getting to their target price. i generally get out of swing trades by using george's pitchforks. if the price hits the middle fork or the upper fork and appears to be having trouble getting over on the 5 minute chart i sell. i am by nature a very out going person so this learning and listening is new to me. i will join the room more as i lean more. leaving for couple of weeks to go curise st. thomas and st. marteen. starting march 1st.

Jerry, That truly was an awesome class last night. Not because of the material, but more importantly, because of your method of teaching. That easy going , relaxed style of teaching makes one feel confident. Lack of confidence, turns to fear in a trade, and that has been my biggest problem. And I am still struggling with that.I also like that you can be understood when you talk. No stinkin metaphors - which are a distraction- while you take the time to figure out what they mean. ( Da playas goin outta da park ) Long? Short? Reverse? Listening to your explicit calls is an enormous help. You "give" us the fish "while you teach us to fish" ! ( you can use that line on your new webpage ) Others claim to only want to teach you to fish- because ( so they boast) that will help you throughout life. Yeah- but if someone doesn't give you some fish before you learn on your own - YOU WILL STARVE ! You won't be alive in the future to benefit from the teaching. And , allowing us to learn from you until September for free, is another confidence builder. It lessens the pressure of one more expense.If I can accomplish your goal of $500 per day, then paying for your service is a minimal expense. So- an enormous thank you - for your kindness in helping us become better traders.Please add me to your newsletter list. Best regards and Good Health,

Jerry, just a quick note to let you know how much I enjoyed your trade room today! I've traded at on-site trading, months ago, in Charlotte, but am unable to leave home due to special needs of my son. I felt like I was back in the saddle again and WOW, what a pleasure. I've studied Pring's stuff, Advanced Get, American Bull, and read everything I could get my hands on. It's just night and day having input from so many skilled traders. Today was easy, FUN, trading because I knew I couldn't get hurt by missing something. I'll quit bending your patient ear. Thanks again. My bud Jerry will be signing on next week. Keep it up, your helping at least one family change the world! It's really tough trading by yourself....I've found that out!

Jerry you asked that we have questions ready for class Monday; so I thought I would take the opportunity to express my opinion about the class along with a few questions. I have trade the market for a number of years now, and have made money. Making money: however did not take away the underlying fear. As i now understand it the fear was with me due to the fact that I had been unable to establish a "PROCESS OF TRADING." Your class and the room have given me this process of trading. The fear is gone, an I am trading more and more like a machine. You said "old man" traded like a machine. This has to be one of the greatest of compliments. I marvel at your intelligence; as you have invented what I was unable to do. I am not being to humble here; as I was smart enough to find you and learn from you. I have lurked on many investment chat rooms. I learned some things, but was unable to grow much; because of the bickering back and forth. I am impressed that this does not go on in your trading room. It is wonderful place to listen and learn. I believe that by charging admission the input is kept at a higher level. Now my questions: 1. how do you trade IRA in market trending downward? 2.I trade mine and my wife's IRA account. I have another account in which i can trade the market up and down. The problem I do not have time in day to trade three accounts. I would appreciate suggestions for creating a process for night trading the individual account.

Hi Jerry, I wanted to tell you how much I appreciate all you do. "Thank you" sometimes seems inadequate. Retaking this class again has really helped some of the litebulbs come back on. It is amazing how you can learn a concept and then slowly it can fade away. I am beginning to feel the confidence that I experienced when I took this class last June grow again. I am now trading 0-4 trades a day, down from as many as 20-40 a day. For the last 9 months I have felt unsure and emotional when I trade. Now, by lowering my lot size to 25 to 50 shares I can trade more mechanical, give the trade time to work. I find myself trading more technical every day. Using support and resistance to enter trades and set stops. I can sense when I am in sink with the market. When I begin to make a series of losing trades I know I am not in tune with market signals. By trading small lot sizes, 2 weeks ago I had 8 losers in a row. I lost a total of $116.00 on a $27,000.00 account. No harm no foul . With IB's $1 per trade the commissions don't kill you and you are using real money, not paper. While I won't be able to make a living with these lot sizes, I am able to learn to trade correctly and develop a system that will eventually "bring me to the dance" without wiping out my capital. I look back at my uncontrolled number of trades, poor (should I say NO) money management, and emotional roller coaster of the last 2 years and I am thankful to still be in the game. I put my capital at risk many times and paid for it with unnecessary losses. Glad to have learned that lesson and developed some discipline. I am legging into selected stocks in the "portfolio". Buying 25 share lots at limit prices near pullbacks to the 20 and 40. I actually decided to put 50% of my money to work, then picked the stocks I like and figured out how many stocks and shares I could buy with that much capital. I have heard this from day one. But greed has kept me from actually doing it. In the past I would have dove in and probably gone on 50 to 75% margin right here. Now, if we go up I make money, if we go down, I can either stop out or even hold the positions until we bottom and add. My account cannot be damaged and I can sleep at night and work the trades technically instead of emotionally. I now realize that the market will provide me opportunities every day, week, month, and year to make winning trades. The money will follow. I have some health issues that have slowed my learning ability. I suffer from migraine headaches and arthritis. I am not able to trade the whole day. As you can tell by the time of this letter, I have been up since 2 am. I am in the process of getting off a prescribed narcotic that I have had to take for the past 3 years. This is not an excuse, but I realize it will take longer to learn and become a professional. Thank you for your patience and willingness to help me. But what the heck, all I have is time anyway. I understand the basics of p&f and want to learn more. As I get more consistent with my trading I will begin to dedicate time each week to learn the p & f charts better. I want to thank you again for having the heart to help those of us who want to become part of that group of "Professional Traders". I really do love it. You have the most value for the price of any of the trading rooms and newsletters. I have to stay at home 95% of my life. The room provides me a connection with people. I am looking forward to becoming a professional trader and being able to contribute to the room. I think I am going to love trading options. You are getting me hooked.

Jerry, Wanted to give you an update on where I am at. Got an account funded and operating with IB Brokers. I have the advanced charting software of Esignal which works with the IB data feed. Traded the ES last week twelve times with real money. First trades ever. Came out break-even and crashed through a big barrier. I am just trading one future contract for the time being and seeing if I can at least maintain break-even. If I do, it will be a huge win for me because I can already see many places where I can improve. Wouldn't have gotten any where near this point without your room. It's a superb learning environment, and getting stronger with time. So I am in the game now. Just wanted you to know. You are helping a lot of people. It is greatly appreciated. We all pray for the safety of your soldiers.

Hi Jerry, I am excited for you and the other people in the room today. I know it was an exceptional day and good money was made. It is inspiring to know you can make money no matter what the market does. I realize that experience makes the difference. It is the best group of traders anywhere. You guys don't hold back anything. And you all sincerely care about helping other people become good traders. I really appreciate it and thank you and the others. I hit a days pay 6 days in a row after the first day of class.

Since then I have only had 2 positive days (not even a days pay either) in the last 10 trading days. I am not sure where I got off track. I do know that I have been too loose with stops on my trades and too tight with my stops on following you into trades. If I had simply followed you and mirrored what you have done my account would be up about $1000.00., instead of down $600.00. So starting tomorrow I am going to follow you and the others in and out of trades. I will probably need to get the stops from you. If I lose a days pay, so be it. It ain't the end of the world and certainly not worth all the fear I have let it have over me. I can always make it up on the next trade. I am sure this will put me back in the winners circle and I can learn while I make money, instead of learning because of loosing money. I am about 1/3 of the way thru the candlestick book. It is very helpful, but will take a while to master it. I will have my second monitor installed this week. I'm sure this will help with watching the market.

foratrade: again, that was an awesome class...nothing like seeing a live example. i've made in the 7 figures on year and been spinning my wheels for the past year+. you have renewed my positive outlook on this biz. if I really catch on, I'll be forever grateful and will always look to repay you for your patience. i know that what you charged for this class took time away from your trading which can't be made back. you are one of a few who truly want to help people "make a day's pay" OJ_SI_MCT: don thanks so much..i really appreciate that..it means a lot to me...i'll help you all the time, just ask away<G>

Hi Jerry, I visited your room on Wednesday and found it very REFRESHING. I have been in other rooms and recognized your trading ability in the former room. Your advice and instructions were always clear and your reactions and reports on your own trading were always HONEST! Would appreciate the password for the one week trial.

Jer, These updates are AWESOME! I can tell that you put in a lot of time for them. In fact, I'd be willing to pay a higher subscription rate for them. Its such a nominal fee for such useful info! Btw, I love those new little graphics.

Hi OJ., I think your updates are valuable as they are a quick way for people to get up to speed with what is going on. Not everyone is able to take the time to be in the room all day best regards

Hi Jerry First let me wish you and yours a Merry Christmas and a Happy New Year, Its hard to believe but I'm been getting your letter for over a year now, and I'm still using your triggers and taking to heart your observations. So I wanted to get my vote in that they are appreciated and useful.

Feedback In a message dated 12/13/02 5:45:37 AM, jerry.olson@verizon.net writes: I HOPE YOU'RE ENJOYING THESE UPDATES AND FIND THEM USEFUL..PLEASE SEND ME SOME FEEDBACK..BECAUSE THEY ARE HEAVY IN TIME CONSTRAINTS FOR ME...I USUALLY DO NOT DO THIS...BUT IF THEY'RE USEFUL I'LL CONTINUE ON WITH THEM... OJ -- The Updates are extremely useful to me (and addictive)! Please continue with them as your time permits. I find that if I have the updates then I am able to identify my trades early, set my alerts, and cause less confusion in the room with constant questions about the BTL, BSL, SST, etc. with the stocks we trade. Excellent updates from you -- and the room is wonderful:> Ferniee / Karen

Thanks for taking the time to read this. As I mentioned, I followed a bunch of the trades made today and was totally inspired by the success, the discussion, the reasons and logic, everything. And yes, this is only my second week of my first chat group, which has caused me to stay quiet combined with the fact that I don’t want to burn up any goodwill. I have been slogging away over the last few years trying to get to a point where I was comfortable about trading overall. I had taken a bunch of courses and participated with other groups in Vancouver and watched a lot of people fail. In fact, pretty much everybody did. I had also taken the David Duty course and was in a constant research mode to try and gain a sense of confidence that I find I need before making any investment decision. I couldn’t find it until this group. And now I feel like I am really onto something as does Rezdog 3, another of your students who I am working with here in Vancouver.

It has us both just bubbling with excitement. So I actually understand everything that your group is talking about. What is really exciting for me is that the discussion group is synthesizing a whole bunch of fragmented pieces that I had, into a simple and workable plan. Your plan. And it is raising my confidence level on a daily basis. What I was going to do was to open an account with Ameritrade, which I have heard you talk about, and start with about $20,000 CDN and follow the group and then advise you of the trades that I might make. I felt that it would be a way for me to gain some real trading experience and be part of the group without being intrusive. I was going to sign up on qcharts data feed, which is another of your tools, and then when my time finally came, join the group and pay the monthly charge. It is my trading platform that is weak at this point in time. And I was going to work that up before anything else so that I could make an intelligent decision. I am hoping that any drawing tools that I need are going to be included with the qcharts data feed.

What would you recommend. and in your last email, you talked about a one time fee of $500.00 to get set up in everything. What was involved, and what software etc do you use to make your decisions. I want you to know that I am aware of the value of your time and your room, and that nothing comes for free. I am just trying to maximize the efficiency of the money spent But I was pumped watching that money being made today, and I was in the bleachers. If I can ever get on the field and take a few wins and losses and stay in the game, I could see this work becoming seriously addicting. And that is what I need even more than the money, Look forward to hearing from you. James F. Wildeman