About Me..

My name is Robert Desmond. I live in New York and I have been trading stocks for more then 19 years. I opened my first trading account with Charles Schwab.

My first trade was 75 shares of LOJN.  I was then approached by a full service broker or as he called himself a "Financial Consultant." His firm is a well known Fortune 500 company. My first trade with him was MU and I made a  profit.

My next  trade did not go as well. He called me one day suggesting I purchase some DT. I new nothing of the company but authorized him to make the buy. The following day his firm publicly downgraded the stock. Of course I called him and questioned what had happened. He apologized for what he characterized as an unfortunate and unforeseen event".

From that point on I decided to learn the business of trading. I began reading the Wall Street Journal and books about the stock market as well as books on trading stocks and stock options. Some months later I received another phone call from my broker. He suggested that I buy  3Com. Now I was kind of
ticked off. I asked him, had he not read that 3Com was having troubles and that the near term future was not bright? He replied, "that his analyst  was pounding the table on the stock". My instinct prevailed, I said no. He was stunned. Sure enough, a few days later his firm came out and down graded the 3Com. I fired him.

After leaving the full service firm  I opened an account with a younger and cheaper discount broker. By this time my trading operation was going well through Schwab but I now considered trading a business rather then a hobby and was concerned about commissions and expenses.

New online discount brokers came to the market and undercut Schwab's commissions by half.. I began subscribing to Barons, The Financial Times of London and Investors Business Daily.   I read many books on the trading of stocks and equity options. But the book that really changed my life was a book I read called Reminiscences of a Stock Operator. This is my bible. My copy is dog eared and highlighted. I have read it too many times to count.

My education was further enhanced by attending seminars on charting and technical analysis. But although I had taken control of my future as a trader I would soon realize that even the best traders were, as well as myself were going to learn a very hard lesson. The market takes no prisoners.

March of 2000  marked the end of the go go momentum trading era it also signaled an end  to  the "buy and hold" era. The downfall of Enron and WorldCom and the subsequent perp walks and convictions of their CEO's, the settlement of charges by Sandy Wyle, CEO of CitiGroup and the testimony of Merrill Lynch Analyst, Henry Blodgett and Soloman Smith Barney Analyst, Jack Grubman I saw the light.

I saw how much of a set up it had all been. These faces I had seen dozens of times on CNBC. CNBC was more than happy to be the conduit by which these jokers would be able to manipulate the markets, their leverage? Advertising dollars and access. It was all a lie.

For a couple of years CNBC had made an attempt to clean up it's act. But by 2003 when the markets began to rally they were back to their old ways. In addition to CNBC we now have Bulls and Bears on Fox. Joe Battapaglia who CNBC finally pulled off the air as the market was tanking in 2001 was now back on Saturday mornings.

I have made a very good living by using my own Contrarian Trading System. I keep it simple and I beat the Wall Street crooks at their own game.  And as a subscriber you will have instant access to every trade that I make along with buy and sell targets. I post when I have executed a trade and at what price.

 I always us a trailing stop loss order so please don't take a large hit and wait to recover. Take your losses when they are small and "live to play another day". This is not a day trading system,  I am a short to intermediate term trader, I'll post on average 10 trades per month.

The stock market is like any other market, every once in a while the market will throw a sale. That is why
you will note that most of my long trades will be made on down days and my shorts executed on up days. I go the opposite direction of the prevailing sentiment.

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