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Review of Warrior Trading

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I joined Warrior Trading when I was searching for a group of traders to exchange ideas with.  I was a commodity trader in the 1990’s and transitioned to online day trading in the early 2000’s.  By 2010 I had fully given up commodities and established a small fund for day trading and swing trading small cap stocks.  Since I began my career working on the trading floor I have always loved the relationships and interaction I’ve had with other traders.  In the world of online day trading there doesn’t have to be any interaction with other people.  This was extremely hard for me and that’s why I decided to join chat rooms.  Over the years I’ve bounced around a few chat rooms trying to find a place I can call home.  Luckily I found Warrior Trading, a chat room of professional traders who are serious about trading.  I’ve found my home!

Breaking News Alerts

As an active day trader I’m always looking for the next big mover.  As a trader on the floor this meant watching what other big traders were doing and always being quick to react.  With online trading I watch and listen for signs of breaking news.  Ross, the owner of Warrior Trading, screen shares his stock scanners all day long.  He also tells us when a stock is spiking up on volume.  We all begin checking sources to see if there is any breaking news.   Trading with a team in the Warrior Trading room means everyone is looking for news, checking market caps, checking outstanding floats, and we’re all looking for the same setups.  It’s like having a 150 guys in a trading floor all communicating without shouting!  It’s pretty amazing how the chat rooms work.

Ross has a moderator, Mike, who posts breaking news headlines almost the second they hit the wire.  These always give us a big edge because we know why a stock is spiking up before most traders.  Every edge we can get help us stay one step ahead of the institutional and high frequency traders.  There have been several days where I was able to take a trade on a breaking news stock and realize a 5 figure profit.  In other chat rooms I appreciated the ideas of other traders but I never experienced the level of quality alerts and trade ideas that are delivered every day by Warrior Trading.

The Day Trading Strategies

Ross has a really similar style of trading as me.  When I was a commodities trader I always looked to lock up my profits quickly.  I was a hit and run trader!  I looked for quick opportunities to flip large positions for small percentage gains and then repeat throughout the day.  Ross has a momentum day trading strategy that is really impressive.  He finds the low float runners and jumps on them early.  He usually takes a small gain on the first trade and then goes back in for a 2nd and 3rd trade.  I have learned that if I hit these stocks early in the morning, before 11am, I can almost always capture large percentage gains and wrap up trading by lunch time.  There aren’t good momentum stocks every day but when they are running I am jumping on them.

A Community of Professionals

What I respect most about the Warrior Trading community is the level of professionalism.  We are a group of professional traders all trading the markets day in and day out.  I really enjoy being part of the community and keeping in touch with the members.  I have become good friends with several traders who were also commodities traders or brokers before switching to online day trading.  Ross has worked really hard to build a chat room where beginner to advanced traders all feel at home and comfortable.  There are new traders in the room that ask newbie questions but they are always treated with respect and given helpful answers.  If you are looking for a room of top notch traders you should check out Warrior Trading.

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From Italy: Lessons in Value Investing

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From Italy: Lessons in Value Investing

Value is found in the unlikeliest of places, at the unlikeliest of times. Winding up a hard-paced business trip through Italy, my wife and I crossed the ancient Ponte Fabricio for our final dinner in Rome. It was 9:30 p.m., and I had driven more than
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Where Is Julian Robertson Investing? – US Business News – CNBC

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Where Is Julian Robertson Investing? – US Business News – CNBC

With so much uncertainty in the markets, there are plenty of good companies trading at attractive valuations, legendary hedge fund manager Julian Robertson,
www.cnbc.com/id/49520064

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Agropur is investing more than $100 million in it's Luxemburg's plant in Wisconsin

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Agropur is investing more than $100 million in it's Luxemburg's plant in Wisconsin

LONGUEUIL, QC, Nov. 26, 2012 — /PRNewswire/ – Agropur is proud to announce that it is investing more than $100 million in its Luxemburg plant in Wisconsin in order to significantly increase the production capacity. This investment will also improve
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Your Questions About Bonds Payable Has A Balance Of

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Steven asks…

which of these two accounts are on an multi step income statement?

I’m almost done doing my income statement for my class but i need to know which of these three accounts go to the income statement..

Unexpired(prepaid) insurance
Premium on bonds payable

thanks.

financi4 answers:

Neither

Unexpired(prepaid) insurance

The unexpired part of prepaid insurance is an asset and would go on the balance sheet. The part that is expired would be treated as an expense and go on the income statement.

Premium on bonds payable

This is what’s known as an adjunct-liability account and would be added to bonds payable on the balance sheet.

Joseph asks…

How much did creditors provide to Bargain Company?

The following information is taken from Beekeeper Company’s balance sheet at December 31, 2012:
Cash $24,000
Retained earnings 14,000
Inventory 8,000
Equipment 38,000
Accounts payable 7,000
Bonds payable 22,000
Capital stock 26,000

Question is subject line.

financi4 answers:

Assets = Liabilities + Equity

Assets
Cash $24,000
Inventory 8,000
Equipment 38,000
Total Assets = 70,000

Liabilities
Accounts payable 7,000
Bonds payable 22,000
Total Liabilities = 29,000

Equity
Retained earnings 14,000
Capital stock 26,000
Total Equity = 40,000

Liabilities + Equity = 69,000
70,000 assets – 69,000 = 1,000
Since there is a $1,000 difference, there must be another liability (creditor) for that amount.
7,000 + 22,000 + 1,000 = $30,000 provided by creditors

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Obama Administration Seeks Applicants for First Phase of 'Investing …

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Obama Administration Seeks Applicants for First Phase of 'Investing …

The Obama administration today announced that it is accepting applications for the first phase of the “Investing in Manufacturing Communities” Partnership,
www.commerce.gov/…/obama-administration-seeks-applicants…

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Your Questions About Investing For Dummies

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Joseph asks…

What is the best, easy-to-grasp reference book on financially building assets and investing?

For someone who is financially very conscientious but completely new to the world of building assets and investing, what is a good (current-economy-applicable) intro book that thoroughly explains things in language a non Wall-Streeter can understand and use?

Justin answers:

The best beginner’s book that explains things simply and thoroughly is Investing For Dummies, and it’s probably in your city library. You can also check out The Complete Idiot’s Guide to Investing, and they are neither for dummies or idiots but give a solid basic understanding of investing.

Thomas asks…

How do I start investing in stocks?

I am very new to this. I dont completly understand how but I have an idea. basically how do I get off my feet and start investing in stocks and bonds? Is it worth it? Is it a good way to make extra money? What are the hot companies to invest in right now?

Justin answers:

Learn before you burn.

Go to the library and find 8 finance and investment magazines. Read them until you figure out which one you like the most. Then check out a book on investing. Maybe even the “Investing for Dummies” (not implying you are a dummy). Read that book, front to rear. Subscribe to the magazine. Not one of them will say invest in penny stocks.

Mark asks…

How much money should a beginner start out with before investing online?

I want to invest in stock online. How much money should I start out with? How many different stocks should I buy? Whats the best online trader? Is day trading difficult to do? Thanks

Justin answers:

Your best bet is to get some education and experience before you start putting your hard-earned money on the line. Read a book (Investing for Dummies is a good starting point) or take a course to learn how the markets work, how brokers work, what types of investments you can buy etc. Find a website that will let you create a free “practice account”. This is basically “pretend” investing where you enter buy and sell transactions of real stocks but you don’t actually own them. You can see how your “investments” react over time and whether you made or lost money and then learn from your successes and failures.

As for how many different stocks you should buy, there’s no rule and it’s completely up to you but a good piece of advice is to spread your risk around so that your money is not tied up in the fortunes of just one company. The best way to do this is with mutual funds and ETFs. Mutual funds look like stock in that you buy shares at a particular price and then it either goes up or down and you make or lose money based on that. The difference between mutual funds and regular stock is that a mutual fund owns stock in many different companies, so when you buy mutual fund shares you’re actually buying shares in lots of different companies rather than just one. ETFs, or Exchange Traded Funds, are the same idea except that they are usually tied to an index or a commodity. For example, you could buy an ETF that is tied to the movement of S&P 500 index or one that is tied to the price of oil or natural gas futures contracts.

Whatever you decide to do, don’t ever invest more money than you can comfortably afford to lose. And don’t be in a rush to sink your money into something you don’t really understand. Learn as much as you can first, get some practice experience and seek out the advice of professionals or people you trust who have some investment experience before stepping onto the investing roller coaster. I rushed in when I had some extra cash sitting around and I promptly turned $25,000 into about $5000 by not knowing what I was doing and making rash, emotional decisions. I’ve learned a lot along the way and my investments are slowly recovering, but I sure wish I hadn’t gotten my education the hard way! Lol

Good luck!

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