So here it is, three more days and October begins, which marks one year of trading for me. I figured I would contribute to the forum and share some of my experience, a little about me, and what I've learned so far. Whoever wants to listen, that's great. This might get long so buckle up..
Three years ago, I was visiting Toronto. I don't get out much, but my roommate at the time travels there occasionally. He asked everyone at our place if we wanted to come along for a weekend. My roommate has an uncle that lives there and we didn't have to worry about a hotel because his uncle owns a small house that's unlived in which we could stay at. I was the only one to go with. Anyways, we walk around the city, seeing the sights and whatnot.
My friend says to me "where next?"
"I don't know, you're the tour guide"
"We can go check out Bay Street"
"what's 'Bay Street?'"
"It's like the Canadian Wall street! If you haven't seen it you gotta see it!"
Walking along Bay, I admire all the nice buildings and architecture, everything seems larger than life to me. I love things like that. The huge granite facades with intricate designs and towering pillars to make you think, How the fuck did they make that?
My attention pivots to a man walking on the sidewalk opposite us. His gait stood out among everyone, he walked with such a purpose.. He laughed into the cell phone to his ear. In the elbow-shoving city environment, he moved with a stride that exuded a power which not only commanded respect, but assumed it. I bet HE can get a text back, hell he's probably got girls waiting on him.
This dude was dressed to kill, a navy suit that you could just tell from across the street was way out of my budget, it was a nice fucking suit. I want that.
His life, across the street, seemed a world a way from my own. I've worn a suit maybe twice
in my life. For my first communion, it was too big for me, I was eleven or whatever so who gives a shit, right? I'm positive I looked ridiculous. The other time?
I can't remember. I want that. I want the suit.
I want the wealth
, the independence. I want the respect and power, and I don't give a shit what anyone thinks about it.
Cue self doubt. Well, He's probably some rich banker's son. That's a world you're born into. I don't know shit about it. \
sigh* keep walking..*
A year later, I'm visiting my parents at their house, they live an hour away from my place. My dad is back from Tennessee, his engineering job was laying people off and he got canned... Or he saw the end was near and just left... I don't know, hard to pay attention to the guy honestly because he kind of just drones on and on. ("Wait, so your mom lives in Michigan, but your dad moved to Tennessee... for a job?"
Yea man, I don't fucking know, not going to touch on that one.)
The whole project was a shit show that was doomed to never get done, the way he tells it. And he's obviously jaded from multiple similar experiences at other life-sucking engineer jobs. My mom is a retired nurse practitioner who no longer works because of her illness. I ask him what he's doing for work now and he tells me he trades stocks from home. I didn't even know you could do that. I didn't know "trading" was a thing. I thought you just invest and hope for the best.
"Oh that's cool, how much money do you need to do that?"
"Ehh, most say you need at least $25,000 as a minimum"
"Oh... guess I can't do that..."
Six months later, I get a call and it's my dad. We talk a little about whatever. Off topic, he starts asking if I'm happy doing what I'm doing (I was a painter, commercial and residential) I tell him yes but it's kind of a pain in the ass and I don't see it as a long term thing. Then he gets around to asking if I'd like to come work with him. He basically pitches it to me. I'm not one to be sold on something, I'm always skeptical. So I ask all the questions that any rational person would ask and he just swats them away with reassuring phrases. He was real confident about it. But basically he says for this to work, I have to quit my job and move back home so he can teach me how to trade and be by my side so I don't do anything stupid. "
My Name , you can make so much money."
I say that I can't raise the $25,000 because I'm not far above just living paycheck to paycheck. "I can help you out with that." Wow, okay, well... let me think about it.
My "maybe" very soon turned into a "definitely." So over the next six months, I continue to work my day job painting, and I try to save up what I could for the transition (it wasn't a whole lot, I sucked at saving. I was great at spending though!). My dad gives me a book on day trading (which I will mention later) and I teach myself what I can about the stock market using Investopedia. Also in the meantime, my dad sends me encouraging emails. He tells me to think of an annual income I would like to make as a trader, and used "more than $100,000 but less than a million" as a guideline. He tells me about stocks that he traded that day or just ones that moved and describes the basic price action and the prices to buy and sell at. Basically saying "if you bought X amount of shares here and sold it at X price here, you could make a quick 500 bucks!" I then use a trading sim to trade those symbols and try to emulate what he says. Piece of cake. ;) Wow, that's way more than what I make in a day.
He tells me not to tell anyone about my trading because most people just think it's gambling. "Don't tell your Mom either."
He says most people who try this fail because they don't know how to stop out and take a loss. He talks about how every day he was in a popular chatroom, some noob would say something like, "Hey guys, I bought at X price (high of day or thereabout), my account is down 80% .. uhh I'm waiting for it to come back to my entry price.. what do I do??" Well shit, I'm not that fucking dumb. If that's all it takes to make it is to buy low, sell high, and always respect a stop then I'll be fantastic.
By the end of September, I was very determined. I had been looking forward everyday to quitting my painting job because while it used to be something I loved, it was just sucking the life out of me at this point. Especially working commercial, you just get worked like a dog. I wasn't living up to my potential with that job and I felt awful for it every minute of every day. I knew that I needed a job where I could use my brain instead of slaving my body to fulfill someone else's dream. "Someone's gotta put gas in the boss's boat"
That's a line my buddy once said that he probably doesn't know sticks with me to this day. It ain't me.
So now it was October 2018, and I'm back living with Mom n' Pops. I was so determined that on my last day of work I gave away all of my painting tools to my buddy like, "here, I don't need this shit." Moving out of my rental was easy because I don't own much, 'can't take it with ya.' Excited for the future I now spend my days bundled up in winter wear in the cold air of our hoarder-like basement with a space heater at my feet. My laptop connected to a TV monitor, I'm looking at stocks next to my dad and his screens in his cluttered corner. Our Trading Dungeon.
I don't trade any money, (I wasn't aware of any real-time sim programs) I just watch and learn from my dad. Now you've got to keep in mind, and look at a chart of the S&P, this is right at the beginning of Oct '18, I came in right at the market top. Right at the start of the shit-show. For the next three or four weeks, I watch my dad pretty much scratch on every trade, taking small loss after small loss, and cursing under his breath at the screen.
"dammit." Click. "shit." Click. Click. "you fuck."
This gets really fucking annoying as time goes on, for weeks, and I get this attitude like ugh, just let me do it. I'll make us some fucking money.
So I convince him to let me start trading live. I didn't know anything about brokers so I set up an account using his broker, which was Fidelity. It was a pain and I had to jump through a lot of hoops to be able to day trade with this broker. I actually had to make a joint account with my dad as I couldn't get approved for margin because my credit score is shit (never owned a credit card) and my net worth, not much. Anyways, they straight up discourage day trading and I get all kinds of warning messages with big red letters that made me shit myself like oooaaahhh what the fuck did I do now. Did I forget to close a position?? Did I fat finger an order? Am I now in debt for thousands of dollars to Fidelity?? They're going to come after me like they came after Madoff.
Even after you are approved for PDT you still get these warning messages in your account. Some would say if I didn't comply with "whatever rule" they'd even suspend my account for 60 days. It was ridiculous, hard to describe because it doesn't make sense, and it took the support guy on the phone a good 20 minutes to explain it to me. Basically I got the answer "yea it's all good, you did nothing wrong. As long as you have the cash in your account to cover whatever the trade balance was" So I just kept getting these warnings that I had to ignore everyday. I hate Fidelity.
My fist day trading, I made a few so-so trades and then I got impatient. I saw YECO breaking out and I chased, soon realized I chased, so I got out. -$500. Shit, I have to make that back, I don't want my dad to see this.
Got back in. Shit.
-$400. So my first day trading, I lost $900. My dumbass was using market orders so that sure didn't help. I reeled the risk back and traded more proper position size for a while, but the commissions for a round trip are $10, so taking six trades per day, I'm losing $60 at a minimum on top of my losing trades. Quickly I realized I didn't know what the hell I was doing. What about my dad? Does HE know?
One day, in the trading dungeon, I was frustrated with the experience I'd been having and just feeling lost overall. I asked him.
"So, are you consistently profitable?"
"mmm... I do alright."
"Yea but like, are you consistently profitable over time?"
"I do alright." Silence.
"Do you know
any consistently profitable traders?"
"Well the one who wrote that book I gave you, Tina Turner.. umm and there's Ross Cameron"
"So you don't know any consistently profitable traders, personally.. People who are not trying to sell you something?"
................... Holy fucking shit, what did this idiot get me into. He can't even say it to my face and admit it.
This entire life decision, quitting my job, leaving my rental, moving from my city to back home, giving shit away, it all relied on that. I was supposed to be an apprentice to a consistently profitable day trader who trades for a living.
It was so assumed, that I never even thought to ask! Why would you tell your son to quit his job for something that you yourself cannot do? Is this all a scam? Did my dad get sold a DREAM? Did I buy into some kind of ponzi scheme? How many of those winning trades he showed me did he actually take? Are there ANY consistently profitable DAY TRADERS who TRADE FOR A LIVING? Why do 90% fail? Is it because the other 10% are scamming the rest in some way?
Completely lost, I just had no clue what was what. If I was going to succeed at this, if it was even possible
to succeed at this, it was entirely up to me. I had to figure it out. I still remember the feeling like an overwhelming, crushing weight on me as it all sunk in. This is going to be a big deal..
I'm not the type to give up though. In that moment, I said to myself, I'm going to fucking win at this. I don't know if this is possible, but I'm going to find out. I cannot say with certainty that I will succeed, but no matter what, I will not give up. I'm going to give all of myself to this. I will find the truth.
It was a deep moment for me. I don't like getting on my soapbox, but when I said those things, I meant it. I really, really meant it. I still do, and I still will.
Now it might seem like I'm being hard on my dad. He has done a lot for me and I am very grateful for that. We're sarcastic as hell to each other, I love the bastard. Hell, I wouldn't have the opportunity to trade at all if not for him. But maybe you can also understand how overwhelmed I felt at that time. Not on purpose, of course he means well. But I am not a trusting person at all and I was willing to put trust into him after all the convincing and was very disappointed when I witnessed the reality of the situation. I would have structured this transition to trading differently, you don't just quit your job and start trading.
Nobody was there to tell me that! I was told quite the opposite. I'm glad it happened anyway, so fuck it. I heard Kevin O'Leary once say, "If I knew in the beginning how difficult starting a business was, I don't know that I ever would've started."
This applies very much to my experience.
So what did I do? Well like everyone I read and read and Googled and Youtube'd my ass off. I sure as hell didn't pay for a course because I didn't have the money and I'm like 99% sure I would be disappointed by whatever they were teaching as pretty much everything can be found online or in books for cheap or free. Also I discovered Thinkorswim and I used that to sim trade in real-time for three months. This is way the hell different than going on a sim at 5x speed and just clicking a few buy and sell buttons. Lol, useless. When you sim trade in real-time you're forced to have a routine, and you're forced to experience missing trades with no chance to rewind or skip the boring parts. That's a step up because you're "in it". I also traded real money too, made some, lost more than I made. went back to sim. Traded live again, made some but lost more, fell back to PDT. Dad fronted me more cash. This has happened a few times. He's dug me out of some holes because he believes in me. I'm fortunate.
Oh yeah, about that book my dad gave me. It's called A Beginner's Guide to Day Trading Online by Toni Turner. This book... is shit. This was supposed to be my framework for how to trade and I swear it's like literally nothing in this book fucking works lol. I could tell this pretty early on, intuitively, just by looking at charts. It's basically a buy-the-breakout type strategy, if you want to call it a strategy. No real methodology to anything just vague crap and showing you cherry-picked charts with entries that are way too late. With experience in the markets you will eventually come to find that MOST BREAKOUTS FAIL. It talks about support/resistance lines and describes them as, "picture throwing a ball down at the floor, it bounces up and then it bounces down off the ceiling, then back up." So many asinine assumptions. These ideas are a text book way of how to trade like dumb money. Don't get me wrong, these trades can work but you need to be able to identify the setups which are more probable and identify reasons not to take others. So I basically had to un-learn all that shit.
Present day, I have a routine in place. I'm out of the dungeon and trade by myself in my room. I trade with a discount broker that is catered to day traders and doesn't rape me on commissions. My mornings have a framework for analyzing the news and economic events of the particular day, I journal so that I can recognize what I'm doing right and where I need to improve. I record my screens for later review to improve my tape reading skills. I am actually tracking my trades now and doing backtesting in equities as well as forex. I'm not a fast reader but I do read a lot, as much as I can. So far I have read about 17-18 books on trading and psychology. I've definitely got a lot more skilled at trading.
As of yet I am not net profitable. Writing that sounds like selling myself short though, honestly. Because a lot of my trades are very good and are executed well. I have talent. However, lesser quality trades and trades which are inappropriately sized/ attempted too many times bring down that P/L. I'm not the type of trader to ignore a stop, I'm more the trader that just widdles their account down with small losses. I trade live because at this point, sim has lost its value, live trading is the ultimate teacher. So I do trade live but I just don't go big like I did before, I keep it small.
I could show you trades that I did great on and make people think I'm killing it but I really just don't need the validation. I don't care, I'm real about it. I just want to get better. I don't need people to think I'm a genius, I'm just trying to make some money.
Psychologically, to be honest with you, I currently feel beaten down and exhausted. I put a lot of energy into this, and sometimes I work myself physically sick, it's happened multiple times. About once a week, usually Saturday, I get a headache that lasts all day. My body's stress rebound mechanism you might call it. Getting over one of those sick periods now, which is why I barely even traded this week. I know I missed a lot of volatility this week and some A+ setups but I really just don't give a shit lol. I just currently don't have the mental capital, I think anyone who's been day trading every day for a year or more can understand what I mean by that. I'm still being productive though. Again, I'm not here to present an image of some badass trader, just keeping it real. To give something 100% day after day while receiving so much resistance, it takes a toll on you. So a break is necessary to avoid making bad trading decisions. That being said, I'm progressing more and more and eliminating those lesser quality trades and identifying my bad habits. I take steps to control those habits and strengthen my good habits such as having a solid routine, doing review and market research, taking profits at the right times, etc.
So maybe I can give some advice to some that are new to day trading, those who are feeling lost, or just in general thinking "...What the fuck..."
I thought that every night for the first 6 months lol.
First of all, manage expectations.
If you read my story of how I came to be a trader, you can see I had a false impression of trading in many aspects. Give yourself a realistic time horizon to how progress should be made. Do not set a monetary goal for yourself, or any time-based goal that is measured in your P/L. If you tell yourself, "I want to make X per day, X per week, or X per year"
you're setting yourself up to feel like shit every single day when it's clear as the blue sky that you won't reach that goal anytime soon. As a matter of fact, it will appear you are moving further AWAY from that goal if you just focus on your P/L, which brings me to my next point. You will lose money.
In the beginning, most likely, you will lose money. I did it, you'll do it, the greatest Paul Tudor Jones did it. Trading is a skill that needs to be developed, and it is a process. Just look at it as paying your tuition to the market. Sim is fine but don't assume you have acquired this skill until you are adept at trading real money. So when you do make that leap, just trade small. Just survive.
Trade small. get the experience. Protect your capital. To reach break even on your bottom line is a huge accomplishment. In many ways, experience and screen time are the secret sauce. Have a routine.
This is very important. I actually will probably make a more in-depth post in the future about this if people want it. When I first started, I was overwhelmed with the feeling "What the fuck am I supposed to DO?"
I felt lost. There's no boss to tell you how to be productive or how to find the right stocks, which is mostly a blessing, but a curse for new traders. All that shit you see, don't believe all that bullshit.
You know what I'm talking about. The bragposting, the clickbait Youtube videos, the ads preying on you. "I made X amount of money in a day and I'm fucking 19 lolz look at my Lamborghini" It's all a gimmick to sell you the dream. It's designed to poke right at your insecurities, that's marketing at it's finest. As for the bragposting on forums honestly, who cares. And I'm not pointing fingers on this forum, just any trading forum in general. They are never adding anything of value to the community in their posts. They never say this is how I did it.
No, they just want you to think they're a genius. I can show you my $900 day trading the shit out of TSLA, but that doesn't tell the whole story. Gamblers never show you when they lose, you might never hear from those guys again because behind the scenes, they over-leveraged themselves and blew up. Some may actually be consistently profitable and the trades are 100% legit.
That's fantastic. But again, I don't care, and you shouldn't either. You shouldn't compare yourself to others. "Everyone's a genius in a bull market"
Here's the thing.. Markets change. Edges disappear. Trading strategies were made by traders who traded during times when everything they did worked. Buy all the breakouts? Sure! It's the fucking tech bubble! Everything works!
I'm sure all those typical setups used to work fantastically at some point in time. But the more people realize them, the less effective they are. SOMEONE has to be losing money on the opposite side of a winning trade
, and who's willing to do that when the trade is so obvious? That being said, some things are obvious AND still work. Technical analysis works... sometimes. The caveat to that is, filters. You need to, in some way, filter out certain setups from others. For example, you could say, "I won't take a wedge pattern setup on an intraday chart unless it is in a higher time frame uptrend, without nearby resistance, and trading above average volume with news on that day." Have a plan.
If you can't describe your plan, you don't have one. Think in probabilities. You should think entirely in "if, then" scenarios. If X has happens, then Y will probably happen. "If BABA breaks this premarket support level on the open I will look for a pop up to short into." Backtest.
Most traders lose mainly because they think they have an edge but they don't. You read these books and all this stuff online telling you "this is a high probability setup" but do you know that for a fact? There's different ways to backtest, but I think the best way for a beginner is manual backtesting with a chart and an excel sheet. This builds up that screen time and pattern recognition faster. This video
shows how to do that. Once I saw
someone do it, it didn't seem so boring and awful as I thought it was. Intelligence is not enough.
You're smarter than most people, that's great, but that alone is not enough to make you money in trading necessarily. Brilliant people try and fail at this all the time, lawyers, doctors, surgeons, engineers.. Why do they fail if they're so smart?
It's all a fucking scam.
No, a number of reasons, but the biggest is discipline
and emotional intelligence. Journal every day.
K no thanks, bro. That's fucking gay.
That's how I felt when I heard this advice but really that is pride and laziness talking. This is the process you need to do to learn what works for you and what doesn't. Review the trades you took, what your plan was, what actually happened, how you executed. Identify what you did well and what you can work on. This is how you develop discipline
and emotional intelligence,
by monitoring yourself. How you feel physically and mentally, and how these states affect your decision-making. Always be learning.
Read as much as you can. Good quality books. Here's the best I've read so far;
Market Wizards -Jack Schwager
One Good Trade -Mike Bellafiore
The Daily Trading Coach -Bret Steenbarger
Psycho-cybernetics -Maxwell Maltz
Why You Win or Lose -Fred Kelly
The Art and Science of Technical Analysis -Adam Grimes
Dark Pools -Scott Patterson Be nimble.
Everyday I do my research on the symbols I'm trading and the fundamental news that's driving them. I might be trading a large cap that's gapping up with a beat on EPS and revenue and positive guidance. But if I see that stock pop up and fail miserably on the open amidst huge selling pressure, and I look and see the broader market tanking, guess what, I'm getting short, and that's just day trading. The movement of the market, on an intraday timeframe, doesn't have to make logical sense. Adapt.
In March I used to be able to buy a breakout on a symbol and swing it for the majority of the day. In the summer I was basically scalping on the open and being done for the day. Volatility changes, and so do my profit targets. Be accountable. Be humble. Be honest.
I take 100% responsibility for every dime I've lost or made in the market. It's not the market makers fault, it wasn't the HFTs, I pressed the button.
I know my bad habits and I know my good habits.. my strengths/ my weaknesses. Protect yourself from toxicity.
Stay away from traders and people on forums who just have that negative mindset. That "can't be done" mentality.
Day trading is a scam!!
It can certainly be done.
Prove it, you bastard.
I'm posting to this particular forum because I don't see much of that here and apparently the mods to a good job of not tolerating it. As the mod wrote in the rules, they're most likely raging from a loss. Also, the Stocktwits mentality of "AAPL is going to TANK on the open! $180, here we come. $$$" , or the grandiose stories, "I just knew
AMZN was going to go up on earnings. I could feel it.
I went ALL IN. Options money, baby! ka-ching!$" Lol, that is so toxic to a new trader. Get away from that. How will you be able to remain nimble when this is your thought process? Be good to yourself.
Stop beating yourself up. You're an entrepreneur. You're boldly going where no man has gone before.
You've got balls.
Acknowledge your mistakes, don't identify with them. You are not your mistakes and you are not your bad habits
. These are only things that you do
, and you can take action necessary to do them less.
It doesn't matter what people think. Maybe they think you're a fool, a gambler. You don't need their approval. You don't need to talk to your co-workers and friends about it to satisfy some subconscious plea for guidance; is this a good idea? You don't need anyone's permission to become the person you want to be.
They don't believe in you? Fuck 'em. I believe in you.
While reasearching Epstein's known associates, an interesting individual stood out. Lynn Forester de Rothschild, Lady de Rothschild.
No intention of this being a Rothschild Conspiracy. If your are uninterested to read the content below, scroll down to Comment to get my summary and take on this information. As always please Fact check this.
(HJI) is a bi-partisan, transatlantic movement of business leaders, senior policy makers and academics focused on promoting a more Inclusive Capitalism. The HJI calls for international collaboration from businesses and other organizations to encourage the widest possible adoption of programs that improve capitalism as a driver of wellbeing for society.
The HJI grew out of the Task Force project For Inclusive Capitalism, which sought solutions to the effects on society and business as a result of the global financial crisis of 2007 – 2008 and the dislocations caused by capitalism’s practice over the past 30 years. The Taskforce, which was co-chaired by Dominic Barton, Global Managing Director, McKinsey & Company, and Lady Lynn Forester de Rothschild, CEO, El Rothschild, published its inaugural paper Towards a More Inclusive Capitalism in May 2012. The report sets out three pathways for business action that lie at the heart of the HJI’s mandate:
- Education for employment: addressing the gap between employer needs and employee skills
- Nurture start-ups and SMEs: mentoring small businesses and improving access to credit for them
- Reform management and governance for the long term: replacing today’s focus on short term performance
The HJI exists to highlight and support businesses and other organizations working to promote the broadest possible adoption of best practices in these and other areas related to Inclusive Capitalism. The HJI believes there is an urgent and compelling demand for business to act to address the greatest systemic issues facing capitalism today. The HJI also believes that business is best positioned to lead innovations in areas that need them the most.
WHO WAS HENRY JACKSON? Henry Martin
(May 31, 1912 – September 1, 1983) was an American politician who served as a U.S. Representative
(1941–1953) and U.S. Senator
(1953–1983) from the state of Washington
). A Cold War liberal
and anti-Communist Democrat
), Jackson supported higher military spending and a hard line against the Soviet Union
, while also supporting social welfare programs, civil rights
, and labor unions.
Jackson was awarded the Presidential Medal of Freedom
posthumously in 1984; Ronald Reagan
called him "one of the greatest lawmakers of our century," and stated:
Scoop Jackson was convinced that there's no place for partisanship in foreign and defense policy. He used to say, 'In matters of national security, the best politics is no politics.' His sense of bipartisanship was not only natural and complete; it was courageous. He wanted to be President, but I think he must have known that his outspoken ideas on the security of the Nation would deprive him of the chance to be his party's nominee in 1972 and '76. Still, he would not cut his convictions to fit the prevailing style. I'm deeply proud, as he would have been, to have Jackson Democrats serve in my administration. I'm proud that some of them have found a home here.
Jackson was known as a hawkish Democrat. He was often criticized for his support for the Vietnam War
and his close ties to the defense industries of his state. His proposal of Fort Lawton
as a site for an anti-ballistic missile
system was strongly opposed by local residents, and Jackson was forced to modify his position on the location of the site several times, but continued to support ABM development. American Indian rights activists who protested Jackson's plan to give Fort Lawton to Seattle, instead of returning it to local tribes, staged a sit-in
. In the eventual compromise, most of Fort Lawton became Discovery Park
), with 20 acres (8.1 ha) leased to United Indians of All Tribes
, who opened the Daybreak Star Cultural Center
there in 1977.
Opponents derided him as "the Senator from Boeing
" and a "whore for Boeing" because of his consistent support for additional military spending on weapons systems and accusations of wrongful contributions from the company; in 1965, 80% of Boeing's contracts were military. Jackson and Magnuson's campaigning for an expensive government supersonic transport
plane project eventually failed.
After his death, critics pointed to Jackson's support for Japanese American internment
camps during World War II
as a reason to protest the placement of his bust at the University of Washington
.Jackson was both an enthusiastic defender of the evacuation and a staunch proponent of the campaign to keep the Japanese-Americans from returning to the Pacific Coast after the war.
Jackson Papers controversy
Senator Jackson's documents were donated to the University of Washington
shortly after his death in 1983, and have been archived there ever since.When the materials were donated in 1983, university staff removed all information considered classified
at the time.Additional materials were added to the collection until 1995.
At some point, library staff discovered a classified document in the collection and sent it to the government for declassification
. In response, in the summer of 2004, a man who identified himself as an employee of the Central Intelligence Agency
(CIA) called the University of Washington
asking to inspect Senator Jackson's archived documents housed there. He found a document labelled as classified and showed this to a librarian.
In February 2005, 22 years after Jackson's death, a five-person team including staff of the CIA, Department of Defense
, the Department of Energy
, and the Information Security Oversight Office
came to library to review all of Jackson's papers to remove anything still considered classified, or reclassified since then. The Department of Energy found nothing of concern, but the CIA blanked lines in about 20 papers and pulled 8 documents out of collection. As of 2018, some files in the collection are available only to those regarded by the library as "serious researchers", who must first sign a release not to divulge some of the information contained in the files.
The Henry Jackson Society
The society was founded on 11 March 2005 by academics and students at Cambridge, including Brendan Simms
, Alan Mendoza, Gideon Mailer, James Rogers and Matthew Jamison. It organises meetings with speakers in the House of Commons
. The society claims that it advocates an interventionist
) foreign-policy that promotes human rights and reduces suffering, by both non-military and military methods, when appropriate.
In 2006, the society worked to raise the profile of the Ahwazi Arabs
, who it claims are currently being oppressed by the Iranian government.
After originating within the University of Cambridge
, the organisation is now based in London
. In April 2011 the entire staff of another London think-tank, the Centre for Social Cohesion
(which has since been dissolved), joined the Henry Jackson Society.
The organisation is a registered charity
in England and Wales
and earns financial backing from private donations and grant-making organisations which support its work. The income of the society increased significantly from 2009 to 2014, from £98,000 to £1.6 million per year.
In 2017 Hannah Stuart, one of the society's Research Fellows, released Islamist Terrorism: Analysis of Offences and Attacks in the UK (1998–2015)
, which profiled every individual convicted under terrorism legislation in the UK between those dates with an Islamist connection.
Structure and projects
The Society has produced a breadth of research reports and papers. These have mostly focused on Islamist extremist activity in the UK, crackdowns on human rights and democracy elsewhere, and various facets of foreign policy and defence.Its current workstreams include:
- Asia Studies Centre. This Centre seeks to provide "an in-depth understanding of the structural shifts, regional complexities and historic tensions that exist alongside the tremendous economic and social growth that traditionally characterise the 'rise of Asia'."Publications include a paper on the possible outcomes of the negotiations with North Korea,and the need to safeguard critical national infrastructure in the West from vulnerabilities which may be built in by China.
- Global Britain Programme. Focuses on "the need for an open, confident and expansive British geostrategic policy in the twenty-first century – drawing on the United Kingdom’s unique strengths not only as an advocate for liberalism and national democracy, but also as a custodian of both the European and international orders." This centre has published papers on what the European Union 'owes' the United Kingdom, as well as advocated for increased military spending by NATO members.
- Russia & Eurasia Studies Centre. Researches domestic and foreign policy issues in Russia and the former Soviet states. In 2018 the Conservative) MP Bob Seely published a paper through this Centre which sought to define 'Contemporary Russian Conflict', and in which he accused the government of Vladimir Putin of pursuing KGB-style tactics.
- Centre for the New Middle East. Established following the Arab Spring, the Society describes this Centre as "dedicated to monitoring political, ideological, and military and security developments across the Middle East and providing informed assessments of their wide-ranging implications". The Centre has released reports highly critical of Iran.
- Centre on Radicalisation & Terrorism. Focuses on the threat to the United Kingdom and elsewhere by Islamist terrorism. Reports have ranged from analyses of the UK charitable sector to the way in which criminals utilise the darknet.
- Student Rights. Created in 2009 "as a reaction to increasing political extremism and marginalisation of vulnerable students on campus". This project has tracked what it describes as "extreme" speakers on British university campuses.
In September 2018, the Society announced the creation of a new Centre for Social and Political Risk
. This Centre will "identify, diagnose and propose solutions to threats to governance in liberal Western democracies", focusing on social cohesion and integration; freedom of speech and political correctness; demographic change; and other issues.
The think tank has been described by the media as having right-wing
leanings, though it positions itself as non-partisan.In 2014, Nafeez Ahmed
, an executive director of the Institute for Policy Research & Development, said that the Henry Jackson Society courts corporate, political power to advance a distinctly illiberal oil and gas agenda in the Middle East
In 2009 the society became the secretariat of two all-party parliamentary groups
(APPGs), for Transatlantic and International Security, chaired by Gisela Stuart
, and for Homeland Security, chaired by Bernard Jenkin
. A transparency requirement upon non-profit organisations acting as secretariat at that time was that they must reveal, on request, any corporate donors who gave £5,000 or more to the organisation over the past year or cease acting as a secretariat organisation. In 2014, following a query, the society refused to disclose this information and resigned its position as secretariat of the APPGs concerned in order to comply with the Rules. The Parliamentary Commissioner for Standards
, Kathryn Hudson
, upheld a complaint against these APPGs on the grounds data had not been provided, but noted the society had already resigned its position and that the consequence of this non-provision therefore "appears to have taken effect" as the Rules intended. The case was therefore closed with no further action taken and the APPGs themselves dissolved with the dissolution of Parliament in March 2015. The APPG Rules were subsequently changed in March 2015 so that only those non-profit organisations providing services to APPGs of more than £12,500 in value needed to declare their corporate donors.
In July 2014 the Henry Jackson Society was sued by Lady de Rothschild
over funds of a "caring capitalism" summit. Lady de Rothschild claims that she has financed the summit and that HJS and its executive director Alan Mendoza are holding £137,000 of “surplus funds” from the conference that should be returned to the couple’s investment company EL Rothschild.
Think tank discussions on the Middle East
have led some media organisations to criticise a perceived anti-Muslim agenda. Marko Attila Hoare, a former senior member, cited related reasons for leaving the think tank and Scottish Labour leader Jim Murphy was urged, in 2015, to sever his links with the society.
According to the report published in 2015, "a right-wing politics is apparent not only in the ideas that the Henry Jackson Society promotes, but also emerges distinctly on examination of its funders."
In 2017, the Henry Jackson Society was accused of running an anti-China propaganda campaign after the Japanese embassy gave them a monthly fee of 10,000 pounds.The campaign was said to be aimed at planting Japan's concerns about China
in British newspapers.
Co-founder Matthew Jamison wrote in 2017 that he was ashamed of his involvement, having never imagined the Henry Jackson Society "would become a far-right, deeply anti-Muslim racist [...] propaganda outfit to smear other cultures, religions and ethnic groups." "The HJS for many years has relentlessly demonised Muslims and Islam."
In January 2019, Nikita Malik of the Henry Jackson Society provided The Daily Telegraph
with information they claimed showed a Muslim scout leader was linked to Islamic extremists and Holocaust deniers.In January 2020 The Daily Telegraph
issued a retraction and formal apology saying that:
"the articles said that Ahammed Hussain had links to extremist Muslim Groups that promoted terrorism and anti-Semitism, and could have suggested that he supported those views and encouraged their dissemination. We now accept that this was wrong and that Mr Hussain has never supported or promoted terrorism, or been anti-Semitic.We acted in good faith on information received but we now accept that the article is defamatory of Mr Hussain and false, and apologise for the distress caused to him in publishing it. We have agreed to pay him damages and costs."
The initial signatories of the statement of principles included:
- Members of Parliament Michael Ancram, Michael Gove, Edward Vaizey, David Willetts, Denis MacShane, Fabian Hamilton, Gisela Stuart,
- former MPs David Trimble, Jackie Lawrence), Greg Pope,
- former soldier Tim Collins),
- Sir Richard Dearlove – former head of the British Secret Intelligence Service, and formerly Master of Pembroke College, Cambridge – and the American economist Irwin Stelzer.
- Times Journalist Oliver Kamm
International patrons included Richard Perle
, William Kristol
, former CIA Director R. James Woolsey Jr.
, and former Lithuanian leader Vytautas Landsbergis
This has been a rabbit hole and only half the story regarding Lady Forester. Then only link between Lady Forester and Jeffrey Epstein is In 1995, financier Lynn Forester
discussed "Jeffrey Epstein and currency stabilization" with Clinton. Epstein, according to his own accounts, was heavily involved in the foreign exchange market
and traded large amounts of currency in the unregulated forex market
. I will post another story Lady Forester and the coalition for Inclusive Capitalism.
References https://en.wikipedia.org/wiki/Henry_Jackson_Society https://henryjacksonsociety.org/who-was-henry-jackson/ https://en.wikipedia.org/wiki/Henry_M._Jackson
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