By: Joe Taylor | January 4, 2009
(bettertrades) - "Earth to Wall Street! Is anyone over there listening to the average investor? Say hello to EarthtoWallStreet.com. Earth to Wall Street is the first peer to peer business and finance social network of its kind. For the first time in history investors can communicate and share unlimited amounts of data and information for free in a familiar and safe setting. It's also the first time ever that the average investor has been given a platform in which they can clearly have their voices heard and their investing potentials fully realized. In the past, only users of popular free music sharing peer to peer sites have known such freedoms. Now the peer to peer revolution has hit the business and finance world.
Earth to Wall Street's free membership not only includes a personal email address, customizable calendar and member compiled newsletter, but it also includes one of the most in depth peer to peer social networks ever. Members are able to upload or download any content that they choose from movies and pictures, to spreadsheets and charts. Earth to Wall Street is unlike any other peer to peer network because it gives members the tools that they need to upload their own content, or to create their own original word processor, spreadsheet/chart, and power presentation documents. Members can collaborate with others in the community or they can keep their work private. A difference which sets Earth to Wall Street apart from other peer to peer networks is the fact that its members can view the full content of all files on the network before they choose to download them. This promotes the easy and safe transfer of data and information. Earth to Wall Street's social networking features further tie members into a tight community with fully customizable member profiles and homepages, instant messaging and PC to PC voice chat. Members play a key role in the site's day to day functions.
Earth to Wall Street is a perpetual beta site. Its ever evolving state allows for the constant release of new features. This harnesses the collective intelligence of members by trusting them as co developers. Earth to Wall Street's hub is the member run blog, which is published daily in free newsletter form, and is part of the Forbes Business and Finance Network. The blog sets the editorial tone of the site and features the unique raw talent of members, bloggers and message board regulars alike.
There is finally a refreshing alternative to mainstream business and finance media. EarthtoWallStreet.com has filled a void that was sorely missing in the industry. For once the average investor can have an impact. Earth to Wall Street is so much more than a peer to peer business and finance social network, it's a revolution."
My name is Greg Ruffin. I am the editor in chief of Earthtowallstreet. I began writing for this blog because I was asked to after it was created for me. I did not begin this blog. It was designed for me to post my forecasts on the economy and stocks. I have posted on the Yahoo Finance stock message boards since 2004. I still enjoy that outlet as well as I still post and communicate with people in this fashion. It's the place I began where I studied peoples behavior more than charts. It's where I learned the most actually, from other traders. Yes there is a lot of garbage on these boards but I also over the years have met many good people who taught me a lot about trading.
I have been an electrician for 25 years and began trading after I lost $30,000 when I first began investing my own money. I was determined to learn why I had lost it and how to make it back. I did not quit. In my first month of day trading I made $40,000. I was hooked. I then quit my regular job shortly there after to learn and study the life of a day trader. This lasted 90 days approx. I made a lot of money and I lost a lot of money. I quit trading and went back to work as an electrician after losing $250,000 dollars in that first 90 days of trading. I did not lose all my chips before I went back to work.
Since then I have gone back to my roots of successful trading and investing. After the high of day trading wore off along with the losses incurred I now try to convey to others what I learned from that experience. I try to convey the dollar cost average approach to investing over long periods of time vs. day trading. I try to convey the importance of making the most with the least amount of exposure to the markets. I teach the importance of always protecting our base wealth in mostly cash at this time and I have since October 2007. When I trade I try to teach how to phase into positions and how to phase out taking profits along the way. I share my picks and calls on etn's, etf's and stocks as well as my take on the short and long term picture of where the economy is headed.
I am unique and very different and any one who has known me since I began trading will tell you that. I find that with most of my calls or predictions I become controversial until those calls unfold. The most recent happened with DXO and the price of oil bottoming for now on Dec 19. 2008. I posted that oil had been way over sold on my blog the very day oil hit it's low of $32.40. I did the same thing with coal. Please read this link as an expample of how I work and and who I am and only then will you really get to know me. The below link is from July 2008 concerning the coal sector. Look then if you will at what happened next and the headlines I said would come in due time.
I do make mistakes of course, I am human, but if you get to know me you will begin to understand me more than by me writing about myself over time. This is a life long study and practice for me, not some short term fad or way to make money from people. I do it because I love to share my vision with others even at the expense of being scorned by many nay sayers and negative people. I have my ups and downs, it's part or my learning, we all have our ups and downs, our good times and bad times. I am not a quitter and I will only continue to get better with time.
OUR CURRENT BLOG LINK IS BELOW
I have been writing for Earthtowallstreet since October 2007.
The short answer is the dream of becoming a trader. The long answer to that is where trading $10 million worth of stock transactions in my first 90 days as a trader has lead me to. It took living and breathing the life of a day trader full time for 90 days that taught me most of what I have learned in trading. It taught me things that one should never do, the things you must do to survive. Trading $10 Million worth of stocks teaches you what no one can teach you, what no book can imprint on your mind and soul. Only living and feeling what it takes to make a lot and lose a lot can give you the experience and lessons of greed, fear, pain and the discipline in the end you must find to go on to succeed. No one can learn these things without doing them, its not ever going to be the same as doing it your self and the discovery of you and the unknown. I took the road of the unknown with gusto and I learned what no one could have taught me otherwise. One has no idea what it's like to make $16,000 in the first day of trading or $38,000 in 90 minutes and how that effects one mind or how it feels to lose $33,000 in one day. No one knows how it feels to lose $250,000 either and what one must learn to do in order to keep from doing it. I learned by doing. I quit my day job and gambled it all on my dream of becoming a trader.
I got the attention of traders and market makers on September 19, 2007 on the NYX Yahoo Finance message board declaring that NYX had bottomed at $69 for the time being. I made some extremely accurate predictions on that stock days in advance more than once. I gave exact times and dates for it's price action three days in advance, describing the pricing levels, times and chart action and volume levels as well. It came to pass as I had described it. A blog was designed for me by one of the traders on that message board. I was called an interviewed by options trader from the IBD as well as a retired market maker who had worked on the floor of the NYSE during this time because many people wanted to know how I was able to predict with such accuracy. I told these same people during this phone interview we were going to see a possible Depression. I also told them China would soon sell off in heavy panic and that their markets would collapse as well.
The focus of my blog is to share my own personal take on the markets. It is more like a personal diary. I am unorthodox, my methods are not from the main stream. I use my intuition. I use my own ability for speculation of the future in deciding my stock picks.
Most blogs did not predict during October and November 2007 that Depression like market conditions would occur in 2008 and to short the markets and protect profits made on the long side of the markets. My blog did, saving those who listened their life savings. I was a strong bear sending the message as early as late October 2007 that a storm like our generation had never seen was about to take our markets much lower. That sets me apart from most speculators, market makers and main stream professionals. I didn't lose money, I made money during this down turn. I tuck with my own conviction and those who followed me saved their life savings from the market carnage. I am proud of those who I helped. I am also proud that I do not charge for my experience.
I try to share my personal lessons concerning the study of the markets and how we the trader are the greatest study of all. One can not learn the markets without learning ones self and how we understand ourselves. The market study is the easy part. The hard part is learning about ones self and where we fit in. I try to teach that we all have the ability to learn our own gift of speculating, that we are all just as good or better than the experts. I try to teach that the power of positive thinking is a gift we all have and should practice.
I am extremely controversial as I write what is on mind no matter how radical it might be taken.
I think sometimes I am a bit to edgy which hurts more than it helps subscriber-ship numbers.
My first day trade was on October 18, 2004. I made $16,000.00 my first day and became hooked.
My favorite instruments are etf's and etn's. They are the easiest to predict.
I phase into positions and I phase out shaving off profits. I always use the least amount of money I can to make the most. It is 100% opposite of how I began trading. When I began trading I used the all in tactic. Now I make more money using a fraction of what I use to.
I like short term quick trades, days, weeks vs. buy and hold. If the profit is their I take it and move on. For someone new coming into the markets, what steps would you recommends they use to get started? The most important lesson is to start small. I always stress that the amount should be small. The goal is to make the highest yield in profit with the least amount of money over and over. The goal is NOT to get rich quick. The goal is to learn how to control greed, control fear using pure discipline. Buy with target points in mind, sell with target points and follow through without emotion.
They want to go all in with too much money. They do not want to take the time to learn the tactics. They brag about how much they do make only to see themselves lose it all back because they have no plan, no discipline. Two things happen to most traders. They make a lot and then lose it all back and they quit, or they lose it all and give up. Only those who make a lot and have lost a lot with extreme determination and balance survive. Those who learn self discipline and patients and are very head strong and self convicted can make it. They also learn not to day trade. They learn to isolate themselves from others opinions, that their own conviction is sacred. They learn how different things contaminate their thought processes over time. Only time and the markets teach you this.
The biggest area of opportunity is different for every individual. I like etf's etn's and stocks. Their are others traders that like other investing or trading vehicles.
I see a further collapse of our entire economic system with further damage being done with the gamble of printing more liquidity, sending our national debt level upward, further dangerous dilution of the dollar, combined with a weakening GDP, combined with further unemployment increases. I see further decline in the credit markets as a second wave of mortgage resets takes place and I see more bank failures and more huge bank write offs as credit card debt deteriorates the bottom line of our major banks especially Citibank. I see the psychological feel good Obama effect waning as real numbers continue to roll in with earnings declining further upon further demand destruction. The fact is we are still going to see further demand destruction and over supply as the credit markets will not feed enough financing in large enough amounts into our global economic picture to stave off further selling pressure.
I see a turn around happening when most everyone has given up on guessing where a turn around lies.
There are too many people thinking we just about to go through a turn around. We still to this day have not seen total capitulation. This is exactly why it will take so long for a bottom to be set in place. There is still lingering hope and until enough damage is done to extinguish this last resilience the market will not have found it's true bottom. A bottom will be put in place when most can not afford to buy it because most people will have either lost all hope or will have lost too much money to gamble further. These people will never return to the markets.
When all hope is lost by the majority of the markets. I see one more huge down turn that will finally take the wind out of the majority. When the end of the world seems close, that will be the bottom, when all hope is lost.
I use human behavior.
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