Today's Ideas:
    for afternoon of Tues. Jan. 8, 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 5:34 pm:

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


      We hope all our readers visit the site to see tonight's post. Today provides a prime example of what a professional trader does in "tough" environments. We were stopped out of a trade that was initially winning for us. For many traders this is debilitating. For the professional, he focuses on what really matters. For example, our equity was at an all time high today before the trade (NQ) that stopped us out. This means our system works and we are profitable over many trades. Secondly, we were stopped out significantly higher than where the futures finally settled. Again, the system works, and we followed it calmly. We don't like to lose any more than the next trader, but it's a part of trading and must be accepted with ease. Following your plan is the most important key to finding this calm. All in all, the trade had the worst outcome (good winner turn into a stop out), but our system and performance is confirmed. We are intact, focused, and making money frequently and consistently. Drake commented on the Slope of Hope blog that the long trade felt "crowded", which indeed was the case as stocks fell apart this afternoon. Still, we take these trade signals to enter, and we honor our stops, no more or less.

    Lots of news today, ranging from Citigroup's much bigger than forecast 4th quarter write downs, to rumors Countrywide (CFC) is filing for bankruptcy. News like this is just part of the landscape, and by staying on the right side of the market, the surprises are often in your favor. If you entered your setups today, and took losses when planned, you have done well. We still have some interesting setups, but no strong signal as yet.

    Don't concern yourself with playing "catch up", as the markets will enrich us soon enough. It's just a mere bump in the road on our way to wealth!  QLD Chart

    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.



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