Hello, Anyone trade forex strictly follow the Rebecca Patterson in Money In Motion, CNBC?
Rebecca Patterson who is a chief markets strategist for J.P. Morgan Asset Management.
During the Friday night Money In Motion’s show, she will provide exact entry, profit taking & stop loss level for individual trade.
Do anyone keep trade of her performance in the table form? How many trades so for? Profit or lost for individual trade?
Thanks in advance…
Don’t follow them, all those CNBC analysts don’t know what their talking about. Rebecca is naive and careless, Andy is very arrogant and Todd is just a idiot standing beside a chart and telling how great the trade ideas are. You’ll see most of their trades will be losing ones.
Rocket… I actually think it could be WORSE than trader50 says… even insidious…but that’s just me (and others who know)
don’t wanna go all con-thee on ya, but i’ve personally seen analysts and others being interviewed on bloomburg, cnbc, etc… who are promoting buying or selling a particular stock…and I would sometimes check my level 2 screen (a stock tool that shows me what big boys are buying, and where… or what they are selling…where at, and who is doing it).
And I can say from personal experience that about 65% of the time, when an analyst or some such talking head for the big money conglomerates of the world would go on TV and “upgrade XYZ stock”… I would see that SAME company actually SELLING that SAME stock by the thosands of shares. In other words… they are using the news and media to broadcast a message that they know will create a buying demand from the uneducated, naieve masses, and then once the buyers rushed in…the could dump thousands upon thousands of shares without pushing the market down. So, they would get out at the top.
Don’t believe me? Look up a stock price chart… find a historical reference to upgrades/downgrades for that stock…and tell me…once an analyst upgraded it…did it rise in price? or did it tend to drop in price for the few days/weeks after the upgrade?
Now, check and see what happened to price in the few days or weeks BEFORE they made that recommendation. Ya. where were they then? That’s right…buying quietly. Now they say BUY BUY BUY…as they generally SELL SELL SELL. Do this for 20 stocks… you will see a net loss over 20 trades… I can almost guarantee it.
And remember, these are analysts… who work for…geez…JP morgan? wow. Since trading is less than a zero sum game… and somehow JP morgan manages to make hunderds of millions or billions in trading profits each year… do you think they just went into the non-profit charity game?
Bottom line is, their billions gained is LITERALLY your billions lost. They, and others like them, are essentially capitalist machines, they exist for one reason…profit. Ethics be damned… if they can get the public to go long one of their stock or commodity recommendations, it’s because they want to sell a large position…and need some dummy to come in and be the last guy holding the bag.
Newscasters talk. Traders Trade. I wouldn’t trust her (or anyone else) unless I both understood the logic behind their trade ideas…AND I was reasonably confident that they derived the bulk of their income from trading these same ideas. Don’t ask a professional talker to make you money in the market. Might as well consult a magic 8 ball… or truly better yet… flip a coin, set a fixed stop loss, and trail your stop until hit. I can almost guarantee that would do better than listening to TV people.
The ever unjaded and eternially optimistic,
Jay
P.S. Trader 50… you really were too kind…
Lol I’m in the UK and get CNBC but when Money In Motion is supposed to be on Jay Leno comes on instead (iirc) so was about to moan about not being able to watch it. I think I’m quite glad now after reading the above posts 
Oh don’t get me wrong Jaroon…when it’s late (and in the past when I had TV)… I would watch it for entertainment. I want to know what the media is promoting to the masses… no joke, I knew a trader who actually did make money trading what they recommended. He actually had a trade he called “Fading the Craemer hype” … or was it “the Craemer Fader”… .anyway He had at least a trade or two a week where he would wait till one of these TV show types from some big institution put out a buy recommendation or a sell recommendation. About 15 - 20 min after market open…if price moved up strong into support or resistance, he would do THE OPPOSITE of what the TV recommended. He told me he once went like… 4 months taking 1 - 2 of these trades a week without taking a single loser.
Thats right folks… they said buy… the masses bought… he watched for a top…and then dumped a few thousand share. He once bragged that he should send CNBC a thank you letter… for “bonus” they gave him each week.
Hey…if nothing else, you can get an idea of which particular slaughterhouse the sheep may find themselves in next. I for one am sicked by such base profiteering, and enjoyed every time I heard that he made money fading the TV guys…because that’s one less dollar that these big boy types get to pocket, by engaging in hypocritical, manipulative behavior in the facade of “helping” and/or “giving good advice”.
I’ve felt a greater sense of inner purity and innocence watching barfights involving the hells angels than I’ve felt watching that dribble. But I do love it hate it… it is good for that.
"strong supporter of the independent day trader who takes your money…because at least he does it honestly"
Jay
P.S. Hope I cleared that up for ya… don’t want my opinion of this stuff to be lost in ambiguity 
All the sheeples follow the slaughter to his house and are thankful, because they don’t know what to do better.
Well, I can just second what eremarket wrote. If you want to lose, follow blindly the folks who don’t even know what they are talking about.
Then even if I look what them are telling in hindsight, frankly, if I wanna laugh, I mean really laughing, from my heart, I just have to read the funny explanations from some talking heads at tv or anywhere else why a price rised or dropped. As if they would know it better than even the investors/traders themself. The best example is this Greece stuff. The dow rises, just because of Greece. If it drops, Greece. Eur rises, Greece, falls, Greece. I went from my living room to the bedroom, what was the reason? Greece! 
Thanks for all of your reply.
I totally agree with all of you. When they recommend buy or sell in CNBC, the mass will make the prices move. This is what we need to take advantage of.
So, here is my strategy.
I don’t follow the TAKE PROFIT and ENTRY prices they recommended. Initially, we use the STOP LOSS they recommended.
Then, use 1HR CHARTS or 4hrs chart to trade this strategy. Initial STOP LOSS might follow them.
When the prices move in the direction we buy or sell, use TRENDLINE to stop out the trade.
This strategy is only applicable for Forex. It is not easy to manipulate the prices in forex. Agree?
So my questions are:
Thanks
Rocket… when it comes to MSNBC or bloomburg or cnn or where ever… your comment “the mass will make the price move” This is probably often true in stocks… where there is relatively low liquidity compared to the amount of capital controlled by the viewing audience.
You gotta remember buddy, Forex is a 2 - 4 trillion dollar A DAY market… and there are only a few really major currencies (USD, JPY, EUR, GBP, CHF, CAD, AUD, (possibly NZD, and a few others).
In fact, the majority of statistics say that the ENTIRE retail forex industry is about 5% of the daily volume in the market. Retail = people who watch the TV… excluding banks, hedge funds, commercial interests like toyota corp, microsoft…etc.
So… if you gather up the entire world of home based/independent forex traders…and had them ALL watch the TV… and see the same news broadcast you see at the same time…and they all decided to act on it that day.(not just watch it… they actually have to place a trade based on what they are seeing)…
you might account for 5% of the movement of a currency that day. So, if the EUR/USD moves…say… 150 pips in a day… that entire audience who all buys or sells the same thing at the same time would possiblity account for 13 pips or so movement.
ya catchin on to what i’m saying? Your playin in the arena of banks, large corporations, and world government entities. And they don’t trade off of anything said on CNBC.
Look at it this way… if the TV programs promote a stock…they can manipulate it to a degree… and get the public to buy what they sell.
When they discuss Forex… they can’t manipulate it to a degree. at all. period. therefore… it is completely useless information.
Remember man, they are on T.V. to promote a brand… to sell advertising. Now…i’m just speculating here… but i’d be willing to bet that several forex brokers or forex related services wanted to buy advertising or sponser some of their broadcast…so they could bring more customers in. BUT… CNBC did not have any segments that catered to the Forex retail community (all 5% of them…), so they decided to discuss a little forex…and now… have a better targeted market to sell advertising for those forex brokers.
Frankly, I have no idea what the answers to your questions are…my point is you are asking the wrong questions.
Essentially, you are trying to figure out if you can make money in the forex market if you buy or sell based on a T.V. analyst opinion.
My answer (and I think anyone who makes a full time income in the markets would agree with me) is that you cannot.
You can lose money that way, but you can do no better than break even.
Now, I see you mention trendlines… I suggest you try this. Track their data yourself… their recommendations. Try this 10 times minimum. 100 really is necessary to even get a baseline idea of whether this will profit or not… but 10 shoudl show the error of this thinking pretty obviously…
Now…try just trading trendlines, trendline breaks, and areas of support or resistance.
you will see an order of magnitude of difference between the two… trendlines and S/R will make you $$ potentially.
T.V. recommendations just wont.
Most importantly…they won’t work in forex because they CANNOT manipulate the price. In your FIRST sentence you state “the mass will make price move, this is what we need to take advantage of”. But that is simply false. If one quarter of all home based forex traders act on this information…it will only account for approx. 1% of the market liquidity on that 1 day. Therefore, your entire premise for potential profit is based on a flawed idea…and therefore will not work.
What you should do…should you insist on wanting to trade T.V. information for profit… find a market that T.V. announcements WILL affect (like stocks)…and then find a way to profit when the amatures act on this information. my buddy used to sell about 15 minutes after the market opened whenever Craemer would recommend a stock, and he made money all the time off that. Why did it work?
Because an informed professional (him) waited for uninformed amatures to make emotional decisions (buying when someone on TV said so), and then took advantage of this when price rose too high relative to actual value at that moment. He sold short, price dropped…amatures lost…he made money (the same money they just lost)
Rocket… if you want to make money in the markets… find out what losing, amature traders are buying…and sell it to them. Your ideas will only align you on the side of the amature traders, because only amature traders resort to T.V. to make a buy or a sell decision. Professionals do their own research, and have their own reasons for buying or selling. If you want to make money…do what the Pros do…not the amatures.
Hope this explains this… and gives you some concepts to think about. Not trying to bash your idea here…just trying to show you how terribly flawed this thinking is… and encourage you to understand why this is the truth.
Jay
P.S. Never lose sight of what a T.V. broadcast is REALLY there to do…generate revenue via selling advertising and sponsership…generally in the form of T.V. commercials. Since they are there to sell advertising, or increase brand awareness, or build a familiarity with a company or service… any and all advice (even when not insidious), is there to help their advertisers… not you.
Hello Jay,
Thanks for your answers. Yes, I’ll take your advise. Now, come to square. I’ve no idea what to trade.
You mentioned about the SUPPORT, RESISTANCE & TRENDLINE. I’m sure the trade results for these methods also inconsistent.
These methods are what I use in very beginner of my trading. Later I add-on stochastic, ATR average true range stop loss and convergence and divergence.
No way I found these trading method can consistent earn me money.
Let go back to my questions.
Please forget about equities since this forum is all about forex (I see some folks are taking about stocks).
Yes the 3 trillion market forex is almost impossible to manipulate. So, my comment about “the mass will make the price move” is a mistake.
Even in your example, you mentioned the CNBC or brokers want to promote the brand. They certainly needs to find great forex traders to exhibit winning trades.
I think chief markets strategist for J.P. Morgan Asset Management is certainly more than qualify.
If my strategy is failed, it means they not even provide the trading “direction” correct. So, they are not even good enough. The trades are too many losses, it is totally is their trading skill.
My objective is to add fundamental into my technical arena. This is the reason I choice Rebecca in CNBC. Now, it might seem not a good choice.
Do you know any excellent FX trader has a good blog for fundamental guide?
Rocket… tell you what. You seem like you really want to get this trading thing down… but your having a hard time finding out how to evaluate a market situation to determine if you have an “edge” or not.
I highly recommend the ICT videos and thread on babypips. It will take time to get through…and you may need to read and watch many times before you can start to apply it successfully for yourself…but what he teaches and discusses are REAL technical concepts that work all the time. Not EVERYTIME ;)… but all the time.
I myself use ONLY technical analysis, I day trade the forex futures markets, as well as gold, oil, and U.S. stock index futures. I make a pretty good living myself doing this.
I trade off levels of institutional supply and demand… a.k.a. Order Flow. I look to find where there is a high probability of a large institutional order, and I put my order just a few pips in front of where I think their order is. I make money very regularly this way…about 4 out of 5 days a week. I have been trading full time for over a year now.
If you are interested, and willing to commit to learing, I can recommend a few resources for you to learn about supply and demand level trading. It will take you probably well over 200 - 300 hours of work to get the basics down… and then maybe another 300 to start to get consistent.
Of course…if you have spent a few thousand hours looking at charts before…this will come faster. It was a very quick learn for me…only about 2 - 3 months…but I had already spent probably about 3,000 hours looking at charts for the past few years before I came across supply/demand level trading.
Tell you what man, send me a private message, and tell me what hours YOU can be online. I will tell you when I’m online (generally asian session until U.S. session), and i’ll do a mini-chatroom session with you (free of course) and show you how I trade. If you like it, i can recommend some free resources on the internet to learn more about it.
Bottom line: if you have tried trendline/support/resistance concepts and haven’t been successful… you haven’t been doing it correctly. This is ALL I use (actually, no trendlines…just pure support and resistance for me), and it pays the bills nicely. So I can testify that it does work. Hope to show you a thing or two…if your interested.
Jay
P.S. In case you are wondering… the numbers above are correct. I’m betting it’ll take the average person who receives good information about how to trade about 500 - 1000 hours to be able to break even or better. Your learning a specialty skill… like how to be a carpenter or a chef. it’s not a math equation Just wanted to let you know… it will take time, and work, to succeed.
Hello,
Ok. Let go step by step.
What is the ICT video? Can you send me a link?
Thanks…
I am a newbie here but have been trading forex for over three years now. The infomation I get from Money In Motion I use as a part of my strategy. i don’t use the exact numbers they give. I use the numbers or entry/exit that agree with my technical analysis. I have found that rebecca is one of the more accurate analyst with Todd being the next in line. Just this week I pulled over 700 pips on three different positions that I picked up from MIM (money in motion). So basically what I do is I just add this convenient information resource to my strategy and it has helped me pull better profits. I’ve learned in FX trading that it’s all about Strategy Fundamental Analysis+Technical Analysis+Risk/Reward+Money Management.
MLFX
They were scared to make a call this week… I watched it, just because there was nothing else on, and they seemed totally lost. They are on MXN tho,
I honesty think they were afraid to make a EU call, just o save face…
All these news guys and pundits are out there for entertainment, not for actual trading information.