Today's Ideas:
    for morning of Fri. Dec. 14, 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 11:45am:

    STOPPED OUT of UNG long at 34.75

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

    NOTES:  Check the ticker for latest trade updates!

         We were stopped out of the natural gas (UNG) position around 11:30 am.  This morning illustrated why we don't exit in the first half hour of volatile trade.  After 10 am, it looked as though UNG might strengthen. In any case, once the stop level is hit mid-morning, we follow the discipline and exit, regardless of what we "think" will happen.  We believe this is a good trade (long), but will enter at another time despite our emotions. 

    Our Canadian dollar long idea is doing well in the face of other weak currencies (yen, euro), and we are looking to take an initial stake either today or next week, so stay tuned.  Sugar is also exhibiting strength, and we really want to add to this position if it can get over .1050 soon.  Also keep an eye on the JPY (yen) sometime next week as this is a nice setup.  We'll continue to look for long entries in SRS and UNG (or QG future), but these are for early next week.  RIMM (stock) looked like it might give us a signal, but did not.  Precious metals are setting up for a buy signal, but still several days away.  Patience is so important in times like these that it bears repeating.  Be prepared for the next entry signal whenever it should occur.  Solid trading looks and feels effortless because the big decisions were made before the heat of battle.  Good luck and stay focused.

    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.



    This site is for instructional purposes only, and is not to be construed as investment advice. | Disclaimer | Contact Us | ©2007-2008 All rights reserved.