By Nick Mastrandrea
As many of my subscribers know, I’m constantly on the lookout for anything that smacks of new, innovative or unique ideas relative to trading. This past week I had the opportunity to interview Mr. Michel Julien of Trader/Crude Oil. Michel has a blog called Trader Crude oil that can be viewed at: http://tradercrudeoil.blogspot.ca/ Michel is French-Canadian and has been trading the crude markets for a number of years. He believes in being and becoming an expert in one instrument and for him that instrument happens to be crude oil.
Michel up to this time has been tweeting his followers via Twitter, Stocktwits and Facebook, etc. but as we all know this is tedious and by the time it’s done the window of opportunity is gone. His followers asked him to start a trade room to alleviate the problem; hence Trader Crude Oil. This will be a trading room where the attendee will watch as Michel dissects the crude market and makes a determination to trade or not. Michel has 8 screens that uses for this purpose and will call out the plays as they occur. This trade room will be ready to go live on November 4th. Mind you, this is not for education or educating traders; this will be pure trading and nothing else.
Now for the best news of all. This room is completely free. Unlike other services that charge hundreds of dollars a month, whether you use it or not. If you wish to make a contribution because you think it’s worth something, that’s fine. But you aren’t obligated nor is there a long term contract to sign. Once a week, each attendee will receive an email asking for a contribution; you decide how
much you think it’s worth. If you made money that week, contribute. If not, don’t. Now we should take this with a grain of salt. If after a few weeks you don’t contribute anything then Michel will think you’re not getting any value out of the room and you won’t receive an email. Each week the password for the room will change. If you were on vacation and couldn’t trade, you don’t owe anything. If you had a week long business trip and couldn’t trade, don’t contribute. This, in my mind is truly, truly unique. Think about all the capital you’ve spent on services that didn’t amount to anything or all the solutions that you bought thinking it was going to be magic and it didn’t turn out that way.
The really good thing I like about what Michel is doing is that no one else is doing it. In the field of online subscription services, you may get a free trial for a certain period of time but eventually you’ll have to come up with the capital if you wish to continue. In this scenario, it is contributory not subscription based. Think about it for a minute. You’ll have the opportunity to shadow a master trader’s trades specific to the crude market. Should you contribute? If someone showed me how to make money consistently in a specific market day after day, I’d gladly give a contribution. What should that contribution be? Again, another key point. The contribution is user defined meaning you decide what you should pay. You pay what you feel it’s worth to you….
One of the key aspects that I got out of my interview with Michel is he’s not an egomaniac and believe me this industry is loaded with them. Instead he impressed upon me a true desire to help people. As a case-in-point on his website he posts what he earned in number of ticks. He also posts his losses, too. Yes traders, there are losses in this business and the quicker you know that, the better off you’ll be. I’ve said repeatedly in my newsletter, writings, videos, etc. “if anyone tells you they’re operating at a 100% win ratio do yourself a favor and run.” No one but no one operates at 100% and those that tell you that aren’t being truthful with you.
Nick Mastrandrea is the author of Market Tea Leaves. Market Tea Leaves is a free, daily newsletter that discuses and teaches market correlation. Market Tea Leaves is published daily, pre-market in the United States and can be viewed at www.markettealeaves.com Feel free to visit and subscribe.