My daily interview with Cory Fleck of Korelin Economic Report went off the beaten path Wednesday with a discussion of artificial intelligence and its potential impact on the economy. Coincidentally, an hour earlier in the Rick’s Picks chat room, I had dissed the word-recognition software I use to text in the room. Truth be told, it can’t even get a simple sentence right — probably because it was written by some quasi-illiterate millennial who never learned to spell or diagram a sentence. From an economic standpoint, we shouldn’t kid ourselves that this is just one more technological leap that will create more jobs than it destroys. Although that has generally been true in the past, AI is fundamentally about removing human beings from work-flow charts. If workers are going to adapt, it will only be because of a massive shift in the education culture away from the humanities and toward the sciences. But as long as students remain feverishly obsessed with such imagined problems as ‘diversity,’ ‘racism,’ and ‘transgender rights,’ America has no future, economic or otherwise. To access the interview, click here.
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Tuesday, April 17, 2018
The consistent accuracy of Rick Ackerman’s forecasts is well known in the trading world, where his Hidden Pivot Method has achieved cult status. Rick’s proprietary trading/forecasting system is easy to learn, probably because he majored in English, not rocket science. Just one simple but powerful trick -- managing the risk of an ongoing trade with stop-losses based on ‘impulse legs’ – can be grasped in three minutes and put to profitable use immediately. Quite a few of his students will tell you that using ‘impulsive stops’ has paid for the course many times over.
Another secret Rick will share with you, “camouflage trading,” takes more time to master, but once you get the hang of it trading will never be the same. The technique entails identifying ultra-low-risk trade set-ups on, say, the one-minute bar chart, and then initiating trades in places where competition tends to be thin.
Most important of all, Rick will teach you how to develop market instincts (aka “horse sense”) by observing the markets each day from the fixed vantage point that only a rigorously disciplined trading system can provide.
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