Today's Ideas:
    for morning of Fri Dec. 7, 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 11:34am:

    We are long 3 units $CAD (Canadian dollar avg. price .99203)

    We are long 2 units UNG (avg. price 35.45)

    We are long 1 unit SB (Sugar avg. price .09987)

    NOTES: That's our position update including prices.  Not a great open for us, but nothing terrible either.  We are paying attention to the stock indices, but it's too early to take any position there.  As stated in the ticker, we decided to swap out of the FXC etf, and into the $CAD future (same total units), as they are much more liquid when trading size.  Still the same trade/direction, and we'll keep you posted of changes in the ticker.  We have not added to UNG, and most likely will not for remainder of the day.  We expect things to be quiet ahead of the FED decision on Tuesday. 

    This morning gave us a great scenario to discuss making trades before the opening bell.  It is rarely necessary, even if the pre-open has big news and lots of volatility.  In fact, we usually wait until after 10 am to enter/exit trades, as liquidity returns.  Yesterday we discussed many setups that are forming, and nothing has changed there.  Try to be patient and not get in early, as that is the most difficult part of any trade.  There is plenty of time to enter/add in our setups.  Review archives for coming ideas, and stay disciplined.  Check the ticker for latest trade updates!

    Remember that you only need a couple vehicles at any one time to make a great living as long as you manage your position sizes properly and consistently.   Focus on managing yourself and your actions, as the charts, fundamentals, and news are secondary.  This site is a work in progress, and we're open to suggestions.  We'll be posting links to interesting and pertinent articles as they arise.  Good luck and stay balanced.

    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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