1. Neural Market Trends Rapid Miner video tutorials have resumed.
2. Pairs trading with Matlab.
3. Basic pair’s trading in Matlab youtube video.
4. Short video on GUI creation in Matlab.
5. Monte Carlo methods in Matlab video.
6. Interactively create plots in Matlab video.
7. Importing Excel data files into  Matlab video.
8. Curve fitting in Matlab video.

Random Quant Finance Articles

1. Open Source FIX engine, QuickFix.
2. Mathematician on Wall Street PDF Part I, Part II, Part III.
3. Stat Arb in the U.S equity market [PDF, Technical paper] .

Blog Post’s

• Can you tell real from fake market data? via Move the Markets.
• Exports, productivity and policy. via EconBrowser.
• Finding your niche in life and Trading. via TraderFeed.

MetaTrader 4

The current version that is most widely used and supported is MetaTrader 4 however beta versions of MetaTrader 5 are currently in testing. In order to build an automated trading system using MetaTrader 4 we will need to write a program that will run inside MetaTrader. There are three types of programs that run inside MetaTrader, these are Custom Indicators, Expert Advisors and Scripts. The screen shot on the right shows the built in indicators that ship with MetaTrader.

MetaTrader- MetaQuotes Language

Custom Indicators, Expert Advisors and scripts are all written in a programming language called MetaQuotes Language, often abbreviated MQL.  Although all three application types are written in MQL there are slight differences between program types.

MetaTrader- Indicators and Custom Indicators

Custom indicators are written in MQL the client terminal will execute the indicator every time a tick is received. The main use of indicators is to graphically display some user defined or built in data relationship. The most common use for indicators is for Technical Analysis. Below are some screenshots which show a built-in indicator being applied to the daily AUD/USD currency chart.

1. With AUD/USD chart open double click on desired indicator.
2. Enter parameter settings and execute.

MetaTrader- Expert Advisors

An Expert Advisor or EA for short share similar properties to Indicators. Expert Advisors or EA’s are written in MQL and are executed on tick data. Expert Advisors or EA’s have trade logic written into them. Basically an EA does everything an indicator can do, however an EA will also open, close and modify trades programmatically. To attach an EA to a currency pair the process is exactly the same as it is for an indicator. There are two sample EA’s that ship with MetaTrader 4 these are the MACD Sample and Moving Average.

MetaTrader- Scripts

Scripts are the final type of application that are available in MetaTrader. A script is designed to be executed only once. Scripts are usually used to automate client side non-trading actions, like modifying data. They can however be used to perform simple trade logic tasks.

MetaTrader – MetaEditor

All the code we write for our automated trading system will be done MetaTrader’s Integrated Development Environment called MetaEditor. MetaEditor allows you to store and manage source code for all projects in an easy to use way. If you are used to Visual Studio or X-Code IDE’s then you will be disappointed with the functionality of MetaEditor. MedEditor does offer syntax highlighting and code completion which is very handy. There is also a built in on-line library that covers most topics. Below is a screenshot of the IDE:

To open MetaEditor from MetaTrader simply press F4 or from the menu bar:

Tools –> MetaQuotes Language Editor

Home Work

Before next article make sure you understand the three different program types that are used in MetaTrader. Also try attaching and using some of the built in indicators in MetaTrader. Before moving on I would also recommend downloading the MQL4 book from MetaQuotes. This is a free book that covers the basics of programming in MQL and in later articles I will assume you are up to speed with the concepts presented in the book.

In the next article we will discuss designing a simple trading strategy and pseudo code.

Before you start

Before we start designing the automated trading system I will assume you are familiar with some basic FOREX or currency market concepts. If you are new to the finance world you may like to read the following articles.

• What’s all this talk about money?
• The FOREX market, the exchange rate and bid and ask spreads.
• Pip’s, Lot’s and a little bit of math.
• Understanding the lingo: Spot market, traded currencies and other FOREX terms.
• The big three in FOREX: Leverage, margin and equity.

To get you quickly up to speed with MetaTrader you can download the software from MetaQuotes. You may also benefit from reading the following basic articles.

• An introduction to MetaTrader Part One.
• An introduction to MetaTrader Part Two.
• An introduction to MetaTrader Part Three.

So now you have a basic understanding of the FOREX or currency market and have MetaTrader installed on your computer we are ready to get started. Below is a roadmap for next few articles.

• What is an automated Trading System and how can we build one in MetaTrader?
• Expert Advisors and Indicators in MetaTrader.
• Designing a simple strategy and pseudo code.
• From pseudo code to a basic trading system.
• Garbage in garbage out: improving modeling quality.
• Testing, Testing, Optimization and more testing.
• Forward testing and performance evaluation.
• Automated Trading System version 2.0.
• So you are ready to go live: Choosing a broker.
• So you are ready to go live: Setting up a Virtual Private Server.

As you can see there is a lot of content that needs to be covered and I am sure as this series progresses there will be content added or removed depending on your input. If there is any materiel you want covered please send me an email or comment below.

What the Hell is Game Theory?

The wikitionary describes Game Theory as:

Game theory attempts to mathematically capture behavior in strategic situations, in which an individual’s success in making choices depends on the choices of others. While initially developed to analyze competitions in which one individual does better at another’s expense (zero sum games), it has been expanded to treat a wide class of interactions, which are classified according to several criteria.

I know what you are thinking, that sounds complicated and boring. Before you give up on it however you might like to look at Yale Universities FREE Introduction to Game Theory course. The course is highly practical and covers the basic concepts of Game Theory. You can download the videos and watch them at your own pace.

Topics Covered

1. Introduction: five first lessons
2. Putting yourselves into other people’s shoes
3. Iterative deletion and the median-voter theorem
4. Best responses in soccer and business partnerships
5. Nash equilibrium: bad fashion and bank runs
6. Nash equilibrium: dating and Cournot
7. Nash equilibrium: shopping, standing and voting on a line
8. Nash equilibrium: location, segregation and randomization
9. Mixed strategies in theory and tennis
10. Mixed strategies in baseball, dating and paying your taxes
11. Evolutionary stability: cooperation, mutation, and equilibrium
12. Evolutionary stability: social convention, aggression, and cycles
13. Sequential games: moral hazard, incentives, and hungry lions
14. Backward induction: commitment, spies, and first-mover advantages
15. Backward induction: chess, strategies, and credible threats
16. Backward induction: reputation and duels
17. Backward induction: ultimatums and bargaining
18. Imperfect information: information sets and sub-game perfection
19. Subgame perfect equilibrium: matchmaking and strategic investments
20. Subgame perfect equilibrium: wars of attrition
21. Repeated games: cooperation vs. the end game
22. Repeated games: cheating, punishment, and outsourcing
23. Asymmetric information: silence, signaling and suffering education
24. Asymmetric information: auctions and the winner’s curse

If you manage to get through these videos you will have and excellent understanding of the fundamentals of Game Theory and it might just help your trading.

Economic Calenders

When it comes to economic calendars you will find an assortment of them on-line. There are only two online calendars that I use on daily basis. They are the Forex Calendar @ Forex Factory and Bloomberg Calendar the screenshots of these calendars shown below:

Out of these two calendars my favourite would have to be the Forex Calendar it has more features and has a much easier workflow then Bloomberg. 

Forex Calendar Features

The first thing you will want to do with both these calendars is adjust your time zone. After I have done this I like to get out my trading notebook and I enter  the announcements that will be relevant to me on that given day. To get more detail about a specific announcement simply click on the detail button. The detail window gives you the following information:

• Source
• Measures
• Usual Effect
• Frequency
• Next Release
• FF Notes
• Why Traders care
• Derived via
• Acro Expand
• History
• Related items

The screenshot below shows the Forex Calendar detail feature in action:

The other unique feature the Forex calendar has is the ability to chart historical release data. Like the detail feature you simply click on the chart icon and an interactive chart will be generated within the same window.  The image below shows the chart feature in action:

Software Tools

I use the free tool FF Calendar to news software as it provides an easy way for me to build a database of future and historic news events on my local computer. This is very handy for some system design work I do. The screenshot below shows my news events history database:

Once my database is populated I can then run a script that overlays each of the economic events on the appropriate chart. This allows for me to graphically view the impact if any on the underlying markets. The screenshot below shows the auto generated chart content on the EUR/USD 1 minute spot chart:

In my next post I will talk about the classic reference book that I often refer to surrounding news releases The Secrets of Economic Indicators: Hidden Clues to Future Economic Trends and Investment Opportunities.

23457

There are three drawing rounds and four betting rounds. The game flow shown below:

Five cards dealt to each player
First Betting round -Starting with player to left of big blind player will choose to bet, check or raise if pot is not already capped.
Draw One – Player will choose to keep or discard any number of cards if he likes his hand he will change none and Stand Pat.

Second Betting round -Starting with player to left of big blind player will choose to bet, check or raise if pot is not already capped.
Draw Two – Player will then choose to keep or discard any number of cards if he likes his hand he will change none and Stand Pat.

Third Betting round -Starting with player to left of big blind player will choose to bet, check or raise if pot is not already capped.
Final Draw – Player will choose to keep or discard any number of cards if he likes his hand he will change zero and Stand Pat.

Final Betting round -Starting with player to left of big blind player will choose to bet, check or raise if pot is not already capped.
Showdown- Provided bets are called a showdown will occur and the lowest hand wins.

I know all this seems a bit complex but once you sit down at the table it will all make sense. Below is my equity graph from my last 10,000 hands, nothing impressive but I am still a student of the game.

Learning 2-7 Triple Draw

If you want to learn more about triple draw there are some great resources online and a chapter in the Super System two which should help you hit the ground running.

1. Triple the Gold Video Series on Deuces Cracked (Great training site subscription required).
2. Daniel Negreanu’s chapter on Triple draw from the Super System II. (Read online free).
3. Lowball guru’s excellent collection of articles on lowball.
4. Smack software- Free software that will overlay mucked cards on screen to save you going through Hand History.
5. Rubbish cards Troutulator -  Free software for equity calculations

“I never looked at the consequences of missing a big shot… when you think about the consequences you always think of a negative result.”

Michael Jordan

“I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.”

Michael Jordan

“Every adversity, every failure, every heartache carries with it the seed on an equal or greater benefit.”

Napoleon Hill

“Don’t be afraid of missing opportunities. Behind every failure is an opportunity somebody wishes they had missed.”

Lily Tomlin

What is The Risk of Ruin?

In it’s simplest form the risk of ruin involves losing so much of your trading capital that you can not recover or trade your way out of a draw down. To make this more concrete I used a few different risk levels to see how many consecutive losing trades one would have to make at each level before losing all there trading capital.

Note: Approximate numbers based on a $15,000 account size, assume ruin occurs when account balance less then $500.

A graphical view of the risk of ruin is shown below:

Money Management – Avoiding the Risk of Ruin 

I know you have heard it all before that the key to successful trading is money management. As you can clearly see from the above you could have the best trading instincts or system in the world, but without money management you could be out of the game in ten trades. An excellent resource on money management can be found  at Turtle Trader.

1. The claim fact or statement is verifiable.
2. Multiple non related entities verify the claim or fact.
3. There is a published or peer reviewed work relating to the claim or fact.
4. The source is trust worthy.
5. The source is not trying to sell me something.

You can be anyone you want online

On the internet you can claim to be anything you want. You can use a false name change sexes, get an instant degree or Ph.D, be a master trader, find a cure for cancer, lose 1000 pounds from eating grape fruit and the list goes on. The one crucial thing all rip off scammer sites have in common is a great story. It doesn’t matter if this story is completely false as long as it sells. The stories told usually involve a great achievement and frame the intelligence of the promoter who created the product course or E-book. They will usually use images to evoke an emotional response. These images will include the promoter next to an expensive car, In a large house and next to or in a boat.

Freedom???

Wealth???

Status???

Are you being sold a Lemon? Site layout can be an early warning sign

There are seven components that most internet marketers use to sell there wares online, these are highlighted below. My guard is instantly raised when I come across a page with these features. I should note not all pages with these characteristics are scams.

Squeeze Page

This is the first part of the sales process and is a very important part. You will arrive at a page offering you a free report, ebook or service for merely providing your email address. This allows the promoter to contact you in future about new offers.

Loooooooong Sales Page

The page you visit next will be the sales page. This page will generally be extremely long and scrolling to the bottom will take some time. Rather then having multiple pages everything is shown on the one page.

Sales copy

Everything written on this page is designed to convince you to buy the product. First the sales copy will clearly define the problem and will then take you on a textual journey showing you the ONLY way to solve the problem will be to purchase the product.

Important take action key words will be highlighted through colour and font size. Don’t suffer any longer XYZ product is here to help. But wait there is more……

Buy NOW

A Story that will sell

Sometimes the story will come first but usually you will find the story in the middle of the sales copy or to the right hand side. The stories usually have a similar theme and are designed to frame the promoters intelligence or take us on a journey from rags to riches. Sometimes they involve a Dr., Harvard graduate or genius discovering the meaning of life and sharing it with the world (for a small fee off course ). Other times a stay at home mum will discover she can accurately predict the stock prices of companies by the time it takes the washing to dry on the line.

Positive testimonials

Have you ever seen a negative testimonial on a sales page? No, neither have I. This must mean that this is either the best product in the world or the testimonials are not an accurate representation of the customers experience. These days most testimonials are fake anyway, there are companies which only exist to provide marketers with fake testimonials.

Alleged limited time offer (perceived scarcity)

This is one of my favourite techniques marketers use, the act now or miss out. There are different variations depending on the product or service being sold. The include:

1. Buy Today and receive an extra gift.
2. Limited copies left.
3. X places left.
4. The signup process will close at X.

This creates the illusion of scarcity and as we don’t want to miss out we will purchase it right now.

Badges of Credibility

Most sites use the badge technique and offer a money back guarantee or a satisfaction guarantee. You notice an image similar to the one below in the copy, however the stipulations of the guarantee will be in fine print and you may find it hard to get your money back.

E-Book Scamming

Maybe I am just old fashioned but before I buy a book I like to open it up see what it contains,skim through and see if it something that I would like to purchase. With eBooks you don’t know what you are going to get until you purchase it. Some eBooks are of high quality while others aren’t worth the space they take up on your hard drive. Anyone can write an eBook and generally the quality of information provided is low. The business model eBook writers use is shown below:

1. Identify a niche with strong demand that is not saturated with eBooks.
2. Write out a general outline for the book.
3. Buy a domain name and Hosting. Average cost US$150
4. Hire a writer from India, Philippines or another country that will write the book. Average cost US$200.
5. Use a pre-packaged squeeze/sales page.
6. Use an auto-responder to soft sell email addresses captured.
7. Write sales page.
8. Open an affiliate program so other people can sell your book.
9. Sell 150 eBooks @US$29.95 each and make a quick US$4142.5 profit.

Trade System Scamming

This is another scam that is prevalent and right now usually involves the Forex market and MetaTrader. This scam is particularly easy to spot.  These trading systems are never tested on real money accounts as the creator now they are heavily curve fitted and are designed to show good performance for a specific historical period. You will almost always see in fine print down the bottom this CFTC risk disclosure:

“HYPOTHETICAL PERFORMANCE:
RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL, OR IS LIKELY TO, ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN TRADERS OPINIONS AND FOLLOWING SPECIFIC TRADES THAT AN INDIVIDUAL MAKES. THERE ARE ALSO DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS ‘PAPER TRADING’ AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM, IN SPITE OF TRADING LOSSES, ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS, IN GENERAL, OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.”

Ask yourself this: If you create a trading system that makes you large profits would you sell it? or would you keep it to yourself?.

Education provision Scamming

Trading is hard and for the most part there is no course you can sit that will guarantee you will be a successful trader. I have heard from countless people who have paid upwards of $10,000 for training only to be left with remedial knowledge they could have gained from a good book.  My advice to anyone considering trading is to start be reading a few classic books:

1. A Random Walk Down Wall Street.
2. The Black Swan.
3. Investment Analysis & Portfolio Management.
4. Money, Banking and Financial Markets.
5. Using Econometrics a Practical Guide.

These five books give you the fundamental knowledge required to understand the market.

Links

• Australian Securities and Investment Commission Scam Watch.
• National Futures Association
• U.S Securities Exchange Commission.
• Better Business Bureau.
• Scam Watch.
• Snopes.

It has taken me far to long to get around to reviewing Timothy Sykes PennyStocking DVD part II. With a run time of approximately six hours there is a huge amount of content to get through.

The second DVD series picks up where the first PennyStocking DVD left off. This series looks at 2007 and 2008 intraday chart patterns and looks at Tim’s updated strategy. Tim is definitely good at cross selling his products. As with his other DVD’s Tim introduces us to his other products he sells.

There is far to much content on these four DVD’s to go into in great detail therefore I will briefly go over the content on each disc and my final thoughts.

Timothy Sykes PennyStocking Part Deux – DVD One

Some topics discussed in this DVD include:

• Basics
• When to Buy
• When to Short
• More short
• Even more
• Trading

The overview details Tim’s journey very briefly as it is covered extensively in the first DVD. I like how Tim emphasizes the need to have no expectations and to aim to take small losses rather then letting them run.

The DVD then goes on to introduce some technical based rules to help you determine when to buy PennyStocks. The discussion then turns to manipulated breakouts, Message board breakouts, Panicking and squeezes. Extensive real world examples are then highlighted using charts.

When to sell is then covered topics include Technical shorting, spam mailers (manipulative breakdown), message board chatter, newsletter sending dwindles (hype breakdown) and Squeeze breakdown.

In the trading section Tim goes through some rules of when to take losses.

Timothy Sykes PennyStocking Part Deux – DVD Two

Some topics discussed in this DVD include:

• Playing out
• Intraday patterns
• More Intraday
• Fades
• Bounces
• News bounces

In the first chapter of this DVD Tim goes through how supernovas tend to play out giving examples. Tim then talks about some basic concepts and guidelines, finally charts are introduced.

Some common intraday setups are shown. In general Tim will define a concept and then show it in action on the charts. I think this is an optimal way to introduce concepts and makes learning a lot easier.

Tim’s discussion of news bounces is most interesting he makes some very good points that I think every trader should take note of. Patterns not to short are also examined. The final part of the DVD we get to see Tim’s music video “Fight For Your Right in Finance”. Shown below:

Timothy Sykes PennyStocking Part Deux – DVD Three

• Some topics discussed in this DVD include:
• More discussion of the breakout pattern
• How breakouts play out
• Various timeframes use various charting software.
• Media newsletter pumps
• Good odds to short sell into dumb money.
• Boring Breakouts
• Breakouts
• Breaking Out
• Playing out
• Even more

This DVD continues where the second DVD left off. It does not really introduce any new concepts rather it continues to go over examples from the “real world”. The section on media and newsletter pumps is interesting and is definitely food for thought. You have to have you finger on the trigger as Tim put’s it when you buy into hype.

Timothy Sykes PennyStocking Part Deux – DVD Four

Some topics discussed in this DVD include:

• Pumps and Dumps
• More pumps and dumps
• Dumps
• Green Stocks
• More green stocks
• Important Factoids

This final DVD continues to go over examples of topics previously introduced and by the end if it you should have a very strong understanding of Tim’s strategy and general PennyStocking theory.

Manipulated run-ups and crashes are talked about and the difficulty in finding shares to short. Tim then talks about buying these shares on the way up. This is a successful strategy for Tim however I don’t think the average person watching the DVD would be able to execute this type of trade successfully.

The discussion then moves on to green stocks. These stocks had miracle promises with very few fundamentals. At the time commodity prices where high and global warming was a big issue. Tim goes into several examples of these types of companies.

Finally Tim takes us through some important factoids, which are no more then a collection of platitudes which no doubt you have heard before but round off the DVD.

Bottom Line

This is a great DVD and is recommended viewing for any one wanting to trade PennyStocks. You just can’t find this information anywhere else. Tim really knows this niche inside out and back to front. This DVD does such a good job going through the important concepts that I think for most people there is no need to purchase the original PennyStocking DVD.

Pros

• Extensive examples
• Concepts clearly defined
• Unique content
• Simple and easy to follow

Cons

• Not enough intraday content
• Short Selling coverage sparse (In order to sell ShortStocking DVD)
• Not enough detail on use of multiple timeframes for trade decisions

The Signup Process

To signup to the Kirk reports member only section click on member information page. After doing this a page similar to the one shown below will appear.

I choose to pay via PayPal and the process was extremely straightforward. After the transaction is complete you are redirected to instruction on how to log on to the members only section. You will also receive an email welcoming you to the Kirk report. Once you have logged on you will see a clean easy to use interface as shown below:

As a member you get access to:

• Kirk’s stock screen machine
• Monthly Q&A sessions
• Premarket/Afterhours posts
• A market timing indicator
• Recommended Readings
• Tools of the trade
• Educational posts
• Retirement/Lazy portfolios
• Model retirement portfolio

Stock Screen Machine

Naturally after signing up this was the first area of the members only section that I wanted to investigate. At the bottom of the page is a tutorial which goes over how to use the tools effectively and gives a bit of background information. There are quite a few screens that will help you find stocks to play. The screens provided include:

Stock Screen Machine Filters

• New & Hot
• Most Popular
• Consistent Performers
• Losing Popularity
• All Screens

Kirk’s Favourite Stock Screens

• Back Up The Truck
• Cheapo Growth
• Cream Of The Crop
• Good Minds Think Alike
• Market Leaders
• Passing The Bar
• Pounding The Table
• Safety First & Then Potential
• Value/Growth/Momentum

Another benefit of Kirk’s stock screens is the ability to views charts of all the stocks listed with a singe click, download an excel file contain the stocks or a text file. I have found this to be very hand as it allows me to use BulkQuotesXL and AnalyzerXL on the list directly. The image below shows a selected stock screen filter:

The monthly Q&A section is a complete archive of all the past Q&A topics and is all easily accessible on one page. I found it really helpful to see the lists of news that Kirk reads and the blogs he reads. These two lists are both very extensive and contain some sites that even the most seasoned professional may not have come across.  Kirk also has a list of recommended readings which is fairly standard but helpful to the beginner. The tools of the trade section of the website lists in great detail Kirks trading setup and I have to say I am somewhat jealous The lazy portfolio section of the website is of a very high standard and there are lots of resources. In total there are 25 different lazy portfolios presented. At the end of each day Kirk sends all his subscribers a concise email with links to posts along with other relevant information. The final section of the members only section that is worth its weight in gold is the members mailbag. This section of the website goes over all the previous questions kirks members have asked him. There is a lot of content and it makes very interesting reading.

Bottom Line

Becoming a member of the Kirk report really is easy and the value most people will derive will far exceed the initial outlay. If you only got access to the screen machines it would be $50 well spent. The mailbag section and the tools of the trade section make for very useful and interesting reading. If you have been a regular reader of the Kirk report but have been sitting on the fence it is time to take the plunge. The only criticism I have is the lack of comments and community interaction. It would be great to see a members only forum or comments to be enabled on posts. Also it would be good if the recommended reading section offered links to the Amazon page of books presented. That being said a Kirk report membership offers extraordinary value for  money.Well I am off to read some more Q&A’s and mailbag questions.