Today's Ideas:

    IMPORTANT : Below is what we're looking at currently, but pay attention to our UPDATES on the side of each page for actual entry/exit times and prices. Refresh pages often! You will witness our winners AND losers; something that is rare in our business.    TO VERIFY ACTUAL PRICES AND TIMES, PLEASE CLICK ON  A TICKER ENTRY TO THE RIGHT.  ALL TRADES, WHEN THEY OCCURED, ARE VIEWABLE.  Whenever possible, we have included the ETF symbol for those who are not experienced trading futures, etc.

    Wednesday, May 28, 2008

    How much?

    There is no need for an accompanying chart today. The same setups of the last few days are still intact, and as always, I'll post on the ticker immediately after I place a trade. I'm pleased with the recent results and after reviewing my trades, I can say I'm executing well. Just as I don't dwell on a string of losing trades if I traded correctly, I also move on after a series of victories. Trading well is being as certain as possible, in an uncertain environment. One good idea at a time is all a trader needs. Try not to complicate the issue, or divert energy into many ideas, if your results are mixed. Sharpen your skills in following your plan, then it's OK to explore.

    I try to be as concise as possible on this site. It truly amazes me how much useful, free information is available on the web. One point worth mentioning again is the size of the positions that are reported here. This information is hard to come by on other sites. For example, when a blog says, "I'm selling short at 1406", this is of very little use. How much? The trader's profitability, or losses, are determined more by this factor than any other variable. You must ask yourself these questions when setting up for a trade, so why shouldn't it be addressed by those dispensing advice? Even more suspect is the reporting of actions "after the fact". It's unethical, and at a minimum, it's useless. One last note, it's beyond me why anybody would pay for what is basically a recap of the past day. I will refrain from mentioning names, for now, but know that you can get most anything you need off the Internet for free. Unless you are paying somebody to actually trade for you, which is reasonable, save your money from the "experts" that do not know much about trading (as far as I can discern)!

    In the future, please pay special attention to the blogs I give a "thumbs up" to, and those that I would not waste my time reading. In my short time on the blogoshpere, I realize that there's a lot of back patting and promotion between sites/bloggers. It is my promise that I will NEVER recommend a site, book, product, or other media, that I do not use myself. Likewise, I will start to call out the "services" I see as useless, costly, or detrimental to the art of trading. My goal from the beginning was to assist traders in their quest. Yes, this does mean the heat is gonna get turned up!


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