Today's Ideas:
    for afternoon of Tues. Dec. 18, 2007

    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 2:39 pm:

    We are long 1 unit $CAD (avg. price .98233)

    We are long 2 units SB (Sugar avg. price .10375)


         We got a signal in the NQ futures (QLD etf), and went long this morning, adding on 2 occasions for a total of 3 units.  Although we don't like being long stock indices currently, that's the signal and it was taken.  We were stopped out midday, and have not re-entered, although we are close to another signal.  When a trade doesn't work out as hoped, it's important not to "keep going back to the well", if your head isn't straight.  Being this trade direction was contra to our fundamental analysis, we'll stand aside after today's loser!

    Our other positions are behaving fine, and we'd like to add to the $CAD at some point.  Currencies trend much further than most people would guess, so if it can get so momentum in our direction, could be a great trade.   We're having problems with the FXI charts, and no signal was given.

    Going forward, we will probably get a signal in the NQ and be forced to take the trade at some point.  One brief note to readers,  b/c we were uncomfortable with the signal, we used a tighter stop than usual.  This proved detrimental, as if we'd stayed disciplined and used the same stop as usual, we would still be in the trade (and  nicely profitable).  Lesson learned, and don't be too hard on yourself as you will always bend rules.  Just try get on track as soon as possible by acknowledging the error and replaying the correct action in your mind.  This will recalibrate your senses.

    People often ask what our time frames are for each trade, and that is different for each position.  In general, however, most trades last about a week or two, BUT we  trade around the positions as you saw today.  Hence, we DO day trade at times.  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 can't always 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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