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    Today's Ideas:
    for morning 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 11:36 am:

    Long 2 units NQ (Nasdaq futures avg. price 1977.495)

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

    NOTES:

      Stock futures were strong this morning, especially after 10 am when the recent housing numbers were behind us. Even with weak reports, the market took off. As mentioned on the ticker last night at 7:27 pm, we re-entered the NQ futures (1 unit). A few minutes ago, we added our second unit for a total cost of 1977.50. We'll stay long for now and look for more signals to add to this position.

    Sugar continues to drive higher, and we're hoping we can stay in this trade and avoid a sell signal. If it continues straight up, a sale will be forced. As long as it can trend softly higher, we'll be able to stay in the full position and possibly add. Sugar futures are in a great longer term setup, so let's try to stay with the move.

    As we mentioned on the ticker this morning, many traders feel they need 50+ potential vehicles to trade. Our results improved drastically when we focused on following our system, not perfecting the setups. Most instruments are highly correlated (even if inversely so), and thus, it's not necessary to be all over the board. Stick to the one or couple best setups, then focus on managing your costs, total risk, add spots, and average prices. This is where the professional trader makes his gains. In short, proper money management through managing yourself.

    Take care, have stops in place, and look to add to our winning situations. We'll update immediately on the ticker.

    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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