Today's Ideas:
    for morning of Thurs. Dec. 27, 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 11:25 am:

    Short 1 unit IWM (avg. price 78.60)

    Long 1 unit TWM (avg. price 66.125)

    Long 1 unit JPY futures (avg. price .008866)

    Long 3 units SB (Sugar avg. price .10611)


        We were able to add 1 unit IWM short (same as TWM long unit), and still hold all other positions. After Consumer Confidence # was released "better than expected" we were comfortable executing our original plan. This illustrates a very important point. We acted on our plan, regardless of the news!

    That's not to say you shouldn't trade on news items. However, we do believe you should trade off news only if that's what your system is, otherwise just use it as a catalyst. We use many different tools to enter and exit trades, but the focus is on consistency. That is, if we used a chart pattern to enter a "setup", then we will use that and exclude news, economic numbers, etc. In this case we used a technical setup, and used the news as an area to enter/add. We'll post the chart below, but the analysis was simple: TWM Daily

    Note the overbought stochastic. This triggered a buy signal, but the question is "when to buy"? That is where we decided you use the economic numbers for a catalyst. In any case, we would enter (either at higher or lower prices), because it was the chart analysis that triggered the signal. By far the most difficult part of trading is proper position sizing, honoring stops (not adding to losers), and adding consistently. The easy part is reading the chart! The best way to be consistent and disciplined is to know yourself, your risk tolerance, weaknesses and strengths. Build your plan around YOU!

    These positions are working well right now, and we're looking to add to all later this session. Don't chase, as it's still holiday volume levels. We'll notify of any changes as they happen...

    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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