Scott Joss, author of The Joss Report, has over three decades of commodity / futures trading experience both on and off the floor.
Scott Joss is currently registered as a Commodity Trading Advisor ("CTA") with the Commodity Futures Trading Commission ("CFTC"). Scott is also registered as an Introducing Broker ("IB"), and is a member of National Futures Association ("NFA").
He began his career in 1977 at the Chicago Board of Options and later gained experience in the grain pits at The Chicago Board Of Trade.
In 1978, Scott began studying technical analysis using point and figure and enrolled in several technical analysis programs sponsored by the CBOT.
In 1980, Scott started trading financial instruments and established several businesses.
In 1984, Scott was called in as a specialist at the CBOT to work with New York institutional traders from Donaldson, Lufkin & Jenrette.
In 1986, Scott - then an independent trader and introducing broker, became a member of the Chicago Broad of Trade and opened S.R. Joss Inc. His major client was Smith Barney for whom he provided technical advice to arbitrage 30 year bonds, 10 year notes, 5 year notes, bond options and Ginnie Mae's.
Scott retired from the trading floor of the CBOT in 1991. In 1994, he reopened S.R. Joss, Inc., catering to retail clients. He found a niche teaching technical analysis while continuing to focus on improving his own trading techniques. Scott began developing chart-based trade recommendations and writing a commodity newsletter stressing risk management.
Originally offered exclusively to Scott's own clients, The Joss Report has become required reading for traders who want a well-researched weekly game plan for the trading week ahead.
Over the past thirty years, Scott has continued to develop his trading methodology using fundamental and technical analysis.
His philosophy is that to succeed in the markets over the long haul, traders needed to develop money management techniques that will allow them to survive losing trades and maximize winning trades; traders need to learn how to lose AND how to win.
Scott believes that trading commodities is not a business of bold market predictions - but one of studying past price history and exploring market probabilities based upon fundamental and technical analysis... and human behavior.
By exploring and understanding market probabilities and human nature, it's possible to achieve trading success. Trading both on and off the floor, Scott discovered that the only fixed variable a trader can control is his risk. Scott has survived trading for over thirty years by understanding two basic rules:
- Even the most successful traders lose money. Money management is the key to success.
- Use common sense. Understand your equity to risk ratio. Risk small and stay alive.