On September 11, 2001, I was trading on the floor of the Chicago Mercantile Exchange when the planes hit the Twin Towers. The reaction in the marketplace to this event was identical to the Crash of 1987.
Stocks fell hard and bonds rallied. The experience I gained from the event in 1987 helped me to trade the event of 9/11. Others noticed my success; the younger traders started picking my brain about the market’s reaction to not only these significant events but to other events which impacted the market’s direction.
After several months of verbally sharing my market views to others, I decided to start writing my thoughts and views of the market in a formal commentary.
In early 2002, I began selling this commentary of my market views and this was the start my writing business. In addition to the market commentary, I recorded daily Pivot Points based upon a formula of the previous trading day’s high, low, and closing prices. The daily Pivot Points were for the indices, financials, and currencies.
My initial product was my support and resistance Pivot Points and I would send an email to my handful of clients on how to interpret these support and resistance Pivot Points.
Weeks later, I started making market predictions via my daily market commentary. Using well-documented charts, I backed up my predictions. I quickly learned, my product was the market commentary and my chart work.
I have always fancied myself as a technical analyst. A gentleman told me recently, due to my ability to read the whole of the marketplace, I am not only a technical analyst, but I am also a tape-reader.
I not only write about the markets I trade the markets. I have been a self-employed pit trader turned screen (computer) trader for 30+ years. I still trade every day and love every minute of it.
I trade with a longer-term view. If you like swing trading, you can learn a lot from me by reading my commentary, studying the charts and reviewing the Pivot Points. I make trade recommendations every day.
I am not afraid to hold a trade for three hours, three days or three weeks. For example, I sold the Yen in October 2012 and did not take profits until January 2013. In my view and based upon technical analysis, I think the Yen will fall much further over the next few years.
I have been in the futures trading industry for thirty-four years; the first twenty-four evenly split between the floors of the Chicago Mercantile Exchange and the London International Financial Futures Exchange where I was a pit trader. As the traditional outcry trading methodology became displaced by more mechanized computer (screen) trading – and embracing the benefits of the technical backbone of this trend – I sought to help the legions of my colleagues and contacts from around the world make the transition. This catalyst for my formation of TonyLaPorta.com is complemented by my longstanding reputation for consulting those who appreciate the science of trading.
I write and recommend with the right combination of passion and deep insight. My homework and approachable analysis are heralded as some of the best available and are presented in my daily view of the overall marketplace and backed with well-documented and highly educational chart work.
I have formulated my own trading system which is the basis for my advice and market calls provided in the market commentary and the famous TLP Gut Trade. The TLP Gut Trade is second to none, with a hit rate of well over eighty percent over the past four years. In addition, my trading system includes computer generated buy and sell signals in all markets which I send via email each day.
Recently, I traded a fund out of London until the MF Global disaster hit in October 2011. I have traded my own money ever since. My results for 2012 and 2013 are staggering. In addition, I share and update my trade ideas throughout the course of a trading day with short information emails.
I have been frequently cited as one of the most qualified readers of the swirling vortex of trading which we are all trying to understand and succeed within. This combined with my uniquely authentic and engaging commentating style has led to a steady increase in clientele.