Today's Ideas:
    for evening 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 7:00 pm:

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

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


        Today saw a reversal in the stock indices from very negative to solidly positive. We were stopped out of a long NQ position midday, and we'll be looking for a potential re-entry signal. Our positions are the same as before, and the $CAD is behaving well. By 11 am tomorrow, we'd like to get a signal to add more to the position. Sugar drifted sideways to lower, but is a long term play, and dips should be bought into the first quarter on 2008.

    One weakness in today's trade was our stop on the NQ future. Because of our outlook on the stock indices, we adjusted our usual stop amount, and tightened it up (gave it a closer stop level). This seemed prudent at the time, however, we took a loss on a trade that would be working fine (and profitable) had we used our regular stops on NQ. In any case, trade the plan, and get on track! There's plenty of time to get on a good trade, and we must remind ourselves we "buy" direction more than we buy because of price.

    We're focused and through the beginning of the week, so our signals will be stronger through Friday. Besides NQ, we're watching FXI, the base metal futures (or DBB), the JPY and CAD currencies, and SRS for entries. We're not taking profits on any positions as yet.
    Stay focused and disciplined, and good luck!

      We'll leave readers with an interesting article explaining how this country got into the real estate fiasco...amazing!: "Mortgage mess"

    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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