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    Today's Ideas:
    for afternoon of Mon. Jan. 7, 2008

    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.

    Position update as of 4:21 pm:

    Long 4 units SB (Sugar avg. price .10701)

    NOTES:

       Solid results today trading the NQ futures and QID. Both trades profitable, and we will look to be long again tonight/tomorrow. We will be significant dips in the NQ futures and possibly the ER2 contract. For now we are flat in stocks and indices. Our only position remaining is sugar, which we discussed earlier. FXI is a buy candidate, but is highly correlated to the index futures. Keep this in mind when sizing up positions. If sugar triggers a short term sell signal, we'll take some profits. Otherwise, stay with full position.

    It is much easier to stay in a losing trade when we know our total risk. We predetermined the exit level, and since we can live with that, the outcome can only be better. One area an experienced trader will struggle with sooner or later, is when to take profits. There is no exact, perfect answer, but stick with the original plan. As Tim Knight (from Slope of Hope fame) puts it "no ad hoc closes"! This means that whatever got you into a trade, if still valid, should make you stick with it. Stay true to your plan. That is the most challenging aspect of this business. The rules and systems are simple, but staying with the rules is what counts.

    We encourage any questions and comments on how to improve our site, and hope you find it useful.  This is a great business, but the learning curve can really take awhile as most successful traders don't have any reason to share ideas.  This site is our way of giving back to the trading arenas, in the name of the few mentors we found that helped us along the way.  Good luck.

    We don't always have the time to explain the reasoning for trades, but they are often a combination of technical, fundamental, and "gut feel".  Pay attention, have fun, and make money!

    For previous posts visit the archives.

     

     

    This site is for instructional purposes only, and is not to be construed as investment advice.

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