I had to go over to the site to see what's available.
I started out picking up information from his remarks on Jag Notes in 1992. Basically, Jag Notes only let me know if he thought one should be long or short each day. When I left trading in NY for trading from my home I lost access to Jag Notes.
Two and a half years ago I started to trade OEX full-time. By early Fall of 1996 I had started to slip. For whatever reason I remembered Camp, dug up his phone number and subscribed to the OEX service. It waas less costly then, perhaps $700 a quarter. My logic was that I could win/lose $700 in a few minutes; why not try it for a quarter and see how it worked out. You have to keep in mind, I trade every day. In the last week I have turned down invitations to play golf in Palm Beach, Myrtle Beach. and Marco Island/Naples because I would spend too much time away from trading. Camp's service, no matter which one, would not help a part-time trader very much in my opinion. Not if that person expected to put on a trade on Monday and come back in a week and see howzit doin'. You may see on his site that such-and-such a day, 3 days off, should be up/down because of a Full Moon or a Tidal Wave or something but (In my opinion) traders don't set up Thursday's trades on Monday so it's a nice piece of information but just something to file away until late Wednesday.
So anyway, the service worked for me; Camp was on a tear and was crushing the market for weeks. This, of course, cannot go on forever. But I was relying (overmuch) on the info and when he started to miss, so did I. So I took the seminar. Kicked butt immediately. Always have after a seminar; I've been to three. Sort of a tune-up when I am trading poorly. Anyway, once the OEX split so did I....I switched to the futures letter for $995, not the intraday one. I've never felt I needed the intraday one....I imagine it may be worth it. However, I find that taking a proper position once or twice a day can far exceed trading like a bat out of hell so I don't want to know that I should get in or out more times than that on an intraday basis. Besides, when trading in NYC I found that consistently getting in and out of trades was stressful and made record keeping a chore.
Further, I have learned where I should enter and exit. I do not do this very well every time; but I do not need someone else looking over my shoulder.
So that's that part.
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Next was the FV part, I think.
Nope. It was how often do I trade using this info? Every day.
But I don't always rely 100% on his times, I try to forecast my times first....then I compare them to his. Even if some of his line up exactly with mine; there are other pieces of information to look for during the course of the day that may invalidate these times. An obvious invalidation may be a recommendation to short the rally expected at 8:45 CT....but an unforeseeable event caused a selloff right from the open. There are also less obvious reasons why that reco may not be suitable, even if the market is moving up at 8:45. It's quite possible one should back off for awhile until conditions are right. There are subtle things to look for. But this takes some experience; trading right off his times is not something anyone with experience would do blindly. The times are hints....high probability points where turns should occur. They are not cast in stone.
This is why I said the advisory is difficult to read. Unless he is on one of his (amazing) rolls, and they never cease to shock me, relying 100% on his times will cause you some stress. The (valid) assumption he makes is that you are a trader and you know how to trade. If his entry is incorrect but you acted on it....well, you better act on it again and get yer butt outta there.
I think I'm fast approaching a TSO record for length of post.
Fair Value. FV is a function of time because the futures contract has a life.....the current "front month" expires in June. By June the FV will be approaching zero.
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It occurs to me that I better submit this now. If I type this entire thing just to have the machine go down I won't be disposed to do it again. |
