Market Content for July 31, 2009
Well I think it is safe to coin today as “Good Friday” to say the least! The School of Trade ended the week and the month of July with some great profits today. Let’s recap the trades that got us our profit today:
At 4:01am EST we noticed some great volume in the Crude Oil market (Symbol CL). Initially we looked for a James Wave to the long side, but after it broke our rules for an acceptable trade we looked to take Crude short with a 2-step. Before we could enter the trade we needed to read the tape and see if we could get active sellers below 67.24, once this happened we entered the market short getting filled at 67.21. We were able to take profits at +3 ticks, +6 ticks and with trailing our final contract; we were able to get an extra +8 ticks for a total of 17 ticks ($10/tick
Our next trade came very shortly after our first at 4:13am EST on the Crude Oil once again (Symbol CL). We were looking for a James Wave to the short side after our first trade carrying Crude lower, but this set-up failed after breaking our rules. So, we quickly looked for a trend reversal and a 2-step set-up perfectly to the long side. We entered the market at 66.91 and took profits at +3 ticks, +6 ticks and +6 on our last contract for a total of 15 ticks on the trade ($10/Tick)
The third trade into the early morning came once again on the Crude Oil market (Symbol CL) at 4:37am EST. This was another 2-step to the short side. Before entering the trade we needed to see conviction in the tape below the 67.00 level. Once this occurred we knew it was time to enter short, and we got filled at 66.98 where we were able to take profits off at +3 ticks, +6 ticks and +18 ticks on our final contract. Totaling 27 ticks for the trade; what a great way to start our summer Friday! ($10/tick)
The next two trades also came in the Crude Oil (Symbol CL). We took a break until about 7:30am EST because historically price action slows down due to European traders going to lunch. We entered the market once again though at 8:58am EST, this time to the long side in the form of a 2-step pattern. We were able to enter short at a basis of 66.33, but once in the trade we noticed price action had begun to slow down and after testing our first target and not getting filled we closed the trade early with a loss of -4 ticks or 12 ticks total on 3 contracts ($10/tick)
The next and last trade we took on the Crude Oil market today came at 9:14am EST, where we looked to take a James Wave long. We were able to get filled on the trade at 65.41, but soon realized we had made a mental mistake and noticed not only did we have overhead resistance, but that it was 9:15am EST. Our rules tell us not to trade in anticipation for the U.S Equity markets opening, and so we instantly closed out of the trade to protect capital and took a small loss of -3 ticks or 9 ticks total when trading 3 contracts ($10/Tick).
We then took a small break due to not only the US market open, but also because there was numerous news events. After all the news had been released we looked to the Mini Russell 2000 (Symbol TF) for our next trade. At 10:05am EST we took the Russell long after seeing a 2-step pattern and entered the market at 556.3. We watched the tape closely and it was not long before we were able to take profits at +3 ticks, +6 ticks and then ended up getting +1 tick on our final contract, for a total of 10 ticks ($10/Tick)
Our next trade came almost instantly after we had closed our last trade on the Russell (Symbol TF). At 10:10am EST we looked for a re-entry to our 2-step to the long side, but missed our entry due to a very fast pace of the tape, so instead of rushing into the trade, we waited for a pullback in the form of a James Wave long. We entered the market at 557.5 with momentum curling up in our favor and closed the trade with +3 ticks in profit ($10/Tick).
We couldn’t have asked for a better trade to end the day today then the one we took on the Euro Futures (Symbol 6E) at 11:25am EST. We noticed a James Wave setting up perfectly to the long side and not only did we have momentum in our favor, but we saw large buyers enter the market just before we entered and knew we would at least get our first target. Well, we got our first target and then some! Taking this James Wave long at 1.4217 for +3 ticks, +6 ticks and trailing our third contract for an additional +25 ticks for a total of 37 ticks to end the day ($12.50/tick).
Today’s Trade Total’s: 6 for 8 $950.00 Profit on 3 contracts
Friday, July 31, 2009
Thursday, July 30, 2009
Market Commentary from Schooloftrade.com, Trade Futures 7-30-09
Market Content July 30, 2009
Yet another profitable day at the School of Trade! It was easy to see though early in the morning that volume was extremely low and price action at times seemed non-existent. We knew that we would need to be at the top of our game and take only the very best trade set-ups.
Our first trade this morning came just before the Natural Gas Storage news at 10:30am EST. We saw volume starting to increase in the Crude Oil market (Symbol CL) and initially looked for a James Wave pattern, but it became disqualifying after not making new highs. Since the Wave set-up we had failed we intuitively looked to take a trend reversal trade to the short side via the 2-step. At 10:00am EST we saw our perfect set-up and with volume on our side, we entered the market at 65.07. It wasn’t long before our initial 2 targets of +3 ticks and +6 ticks were hit and we were then able to let our third contract run for an extra +8 ticks for a total of 17 ticks ($10/tick).
The second and final trade of the day also came on the Crude Oil market (Symbol CL). After the Natural Gas news had been released at 10:30am EST, volume continued to stay strong and we were able to identify a clear 2-step pattern to the long side at 11:04am EST. After verifying price action was in our favor, via the time and sales window, we entered long at 66.25 and were able to take our first target of +3 ticks before breaking even on our remaining two contracts, for a profit of +3 ticks ($10/tick)
Today’s Trade Totals: 2 for 2 $200.00 Profit!
Yet another profitable day at the School of Trade! It was easy to see though early in the morning that volume was extremely low and price action at times seemed non-existent. We knew that we would need to be at the top of our game and take only the very best trade set-ups.
Our first trade this morning came just before the Natural Gas Storage news at 10:30am EST. We saw volume starting to increase in the Crude Oil market (Symbol CL) and initially looked for a James Wave pattern, but it became disqualifying after not making new highs. Since the Wave set-up we had failed we intuitively looked to take a trend reversal trade to the short side via the 2-step. At 10:00am EST we saw our perfect set-up and with volume on our side, we entered the market at 65.07. It wasn’t long before our initial 2 targets of +3 ticks and +6 ticks were hit and we were then able to let our third contract run for an extra +8 ticks for a total of 17 ticks ($10/tick).
The second and final trade of the day also came on the Crude Oil market (Symbol CL). After the Natural Gas news had been released at 10:30am EST, volume continued to stay strong and we were able to identify a clear 2-step pattern to the long side at 11:04am EST. After verifying price action was in our favor, via the time and sales window, we entered long at 66.25 and were able to take our first target of +3 ticks before breaking even on our remaining two contracts, for a profit of +3 ticks ($10/tick)
Today’s Trade Totals: 2 for 2 $200.00 Profit!
Wednesday, July 29, 2009
Market Commentary from Schooloftrade.com, 7-29-09
July 29th , 2009
Quote of the Day
"Fate rarely calls upon us at a moment of our choosing."
Market Commentary
http://www.schooloftrade.com/
Another great day for the School of Trade! We started this morning off a little bit behind, but were able to end the day with a rally in profits after the open of the U. S markets. Here are the trades we took today:
We started off with a 2-step formation to the short side today on the Dax Futures (Symbol FDAX). Our trade set-up at 4:00am EST where we entered the market at 5220.5, once in our trade, we began our active management routine, but once reading the tape and seeing price action slowdown we decide to exit the trade with a small loss of 6 ticks or 3 full Dax points ($35/point).
Not long after our first trade, we decided to take a short 2-step yet again on the Dax Futures (Symbol FDAX). Our trade was triggered at 4:11am EST at a basis price of 5228.5, shortly into the trade we realize we had made a mental mistake and did not take into effect the support that was below us, we ended up taking a loss on the trade for 6 ticks or 3 full Dax points ($35/point).
Our third trade of the day occurred roughly 15 minutes later, but this time on the Crude Oil market (Symbol CL). We ended up seeing a classic 2-step formation short and decided to enter the market at 4:28am EST with an entry price of 65.80. We quickly got a great push in volume and took profits at +3 ticks, +3 ticks and our final contract at +8 ticks for a total of 14 ticks profit ($10/tick).
Then we did not take our next trade until after the opening of the U.S Equities market, due to news affecting the market. Our fourth trade came on the Mini-Russell (Symbol TF) at 9:40am EST in yet again a 2-step, this time taking it to the long side. We entered the trade with a basis of 454.0 and were quickly able to get our first target of +3 ticks before getting scratched out of the remaining 2 contracts, closing with a profit of +3 ticks ($10/point).
Moments after our trade on the Russell, we saw another 2-step to the long side set-up on the Euro Futures (Symbol 6E). After watching the 2-step formation closely we entered the market at 9:44 with a basis of 1.4087 long. Our trade management took profit for us at +3 ticks, +6 ticks and then our final contract, which we manually trailed, got us +10 ticks, and getting out of the trade just before the 1.4100 resistance level.
Just prior to the DoE’s Crude Oil/Gasoline/Distillate Inventories news, we were able to scalp some profits from the Crude Oil market (Symbol CL). At 10:05am EST, we took a 2-step trade long, and with a basis of 65.27, our automatic trade management took profits for us at +3 ticks and +6 ticks. Our third contract, which we trailed to see if we could lock in anymore profits, was closed at break-even, for a total of 9 ticks on the trade ($10/tick).
Also before the DoE news at 10:30am EST, we were able to take a quick trade on the Euro Futures (Symbol 6E). This was once again a 2-step, this time to the short side. We entered the market at 10:18am EST, with momentum on our side, at a price of 1.4093. Unfortunately, we quickly saw price stall out on the tape as well as test our 1st target 3 times, so when this happens, we always revert to our trade management rules and closed out the trade at break-even; nothing gained or lost.
After waiting for the Crude Oil Inventories news to be released, and giving ample time for the market to react, we looked to the Dax Futures (Symbol FDAX) for our next trade. We noticed a great 2-step pattern setting up and entered the market long at 10:42am EST with an entry price of 5285.5. We quickly got filled on our 1st target of +4 ticks and then, after testing our 2nd target 3 times, we decided to manually close our trade with another +3 ticks of profit. This trade totaled 7 ticks or 3.5 full Dax points ($35/point).
The final trade of the day came just before most of the U.S market goes to lunch at 10:58am EST. We noticed a James Wave to the long side was failing in the Crude Oil (Symbol CL), and knew instinctively to look to our 2-step pattern for a trend reversal entry. We then took the Crude Oil short at 10:58am EST, receiving an entry price of 64.23 and automatically taking profits at +3 ticks, +6 ticks, and then letting our third contract run on increased price action for another +7 ticks, totaling 16 ticks ($10/tick) on the trade to end the day with a great winning trade.
Today’s Trade Totals: 7 for 9, with a profit of $570.00
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Quote of the Day
"Fate rarely calls upon us at a moment of our choosing."
Market Commentary
http://www.schooloftrade.com/
Another great day for the School of Trade! We started this morning off a little bit behind, but were able to end the day with a rally in profits after the open of the U. S markets. Here are the trades we took today:
We started off with a 2-step formation to the short side today on the Dax Futures (Symbol FDAX). Our trade set-up at 4:00am EST where we entered the market at 5220.5, once in our trade, we began our active management routine, but once reading the tape and seeing price action slowdown we decide to exit the trade with a small loss of 6 ticks or 3 full Dax points ($35/point).
Not long after our first trade, we decided to take a short 2-step yet again on the Dax Futures (Symbol FDAX). Our trade was triggered at 4:11am EST at a basis price of 5228.5, shortly into the trade we realize we had made a mental mistake and did not take into effect the support that was below us, we ended up taking a loss on the trade for 6 ticks or 3 full Dax points ($35/point).
Our third trade of the day occurred roughly 15 minutes later, but this time on the Crude Oil market (Symbol CL). We ended up seeing a classic 2-step formation short and decided to enter the market at 4:28am EST with an entry price of 65.80. We quickly got a great push in volume and took profits at +3 ticks, +3 ticks and our final contract at +8 ticks for a total of 14 ticks profit ($10/tick).
Then we did not take our next trade until after the opening of the U.S Equities market, due to news affecting the market. Our fourth trade came on the Mini-Russell (Symbol TF) at 9:40am EST in yet again a 2-step, this time taking it to the long side. We entered the trade with a basis of 454.0 and were quickly able to get our first target of +3 ticks before getting scratched out of the remaining 2 contracts, closing with a profit of +3 ticks ($10/point).
Moments after our trade on the Russell, we saw another 2-step to the long side set-up on the Euro Futures (Symbol 6E). After watching the 2-step formation closely we entered the market at 9:44 with a basis of 1.4087 long. Our trade management took profit for us at +3 ticks, +6 ticks and then our final contract, which we manually trailed, got us +10 ticks, and getting out of the trade just before the 1.4100 resistance level.
Just prior to the DoE’s Crude Oil/Gasoline/Distillate Inventories news, we were able to scalp some profits from the Crude Oil market (Symbol CL). At 10:05am EST, we took a 2-step trade long, and with a basis of 65.27, our automatic trade management took profits for us at +3 ticks and +6 ticks. Our third contract, which we trailed to see if we could lock in anymore profits, was closed at break-even, for a total of 9 ticks on the trade ($10/tick).
Also before the DoE news at 10:30am EST, we were able to take a quick trade on the Euro Futures (Symbol 6E). This was once again a 2-step, this time to the short side. We entered the market at 10:18am EST, with momentum on our side, at a price of 1.4093. Unfortunately, we quickly saw price stall out on the tape as well as test our 1st target 3 times, so when this happens, we always revert to our trade management rules and closed out the trade at break-even; nothing gained or lost.
After waiting for the Crude Oil Inventories news to be released, and giving ample time for the market to react, we looked to the Dax Futures (Symbol FDAX) for our next trade. We noticed a great 2-step pattern setting up and entered the market long at 10:42am EST with an entry price of 5285.5. We quickly got filled on our 1st target of +4 ticks and then, after testing our 2nd target 3 times, we decided to manually close our trade with another +3 ticks of profit. This trade totaled 7 ticks or 3.5 full Dax points ($35/point).
The final trade of the day came just before most of the U.S market goes to lunch at 10:58am EST. We noticed a James Wave to the long side was failing in the Crude Oil (Symbol CL), and knew instinctively to look to our 2-step pattern for a trend reversal entry. We then took the Crude Oil short at 10:58am EST, receiving an entry price of 64.23 and automatically taking profits at +3 ticks, +6 ticks, and then letting our third contract run on increased price action for another +7 ticks, totaling 16 ticks ($10/tick) on the trade to end the day with a great winning trade.
Today’s Trade Totals: 7 for 9, with a profit of $570.00
Did you know that our LIVE TRADE ROOM opens at 245am EST Monday - Friday? Come watch us trade 6 different markets LIVE in REAL TIME! Trade along with the pros and learn the newest methodology that will put cash in your pocket instead of the markets. Visit our home page below and receive a Free 3 Week Trial, come and test it out!
Monday, July 27, 2009
Market Commentary, Went 2/2 Today, Crude Was Good For US!
Market Content July 27, 2009
Yet another profitable summer day at the School of Trade! The key to our success in such a low volume market like this is to be patient, and wait for the absolutely perfect set-ups.
We saw our first perfect set-up in the market today at 10:24am EST. We watched the Crude Oil market closely just before news was to occur at 10:30am EST. We quickly noticed that price had broken above its recent swing highs, but wasn’t showing any confirmation of staying there. Next we began to read the tape and see if price action and momentum would give us a chance to take a counter-trend 2-step trade. Sure enough it did, and we entered short at 68.17 on the Crude Oil (Symbol CL) where we were able to lock in profits at +3 ticks and +6 ticks for a total of 9 ticks ($10/Tick) on 3 contracts.
Our second and final trade for the day came once again in the Crude Oil market (Symbol CL). A
2-step was forming to the short side once we saw price make a double top at a key level of resistance. After checking our multiple timeframes to ensure the best entry price, at 10:55am EST we entered short at a basis of 67.87 where we were able to take profits at +3 ticks, +6 ticks and letting our third contract run for +3 ticks totaling 12 ticks ($10/tick).
Today’s totals= 2 for 2 = $210 in profit!
Yet another profitable summer day at the School of Trade! The key to our success in such a low volume market like this is to be patient, and wait for the absolutely perfect set-ups.
We saw our first perfect set-up in the market today at 10:24am EST. We watched the Crude Oil market closely just before news was to occur at 10:30am EST. We quickly noticed that price had broken above its recent swing highs, but wasn’t showing any confirmation of staying there. Next we began to read the tape and see if price action and momentum would give us a chance to take a counter-trend 2-step trade. Sure enough it did, and we entered short at 68.17 on the Crude Oil (Symbol CL) where we were able to lock in profits at +3 ticks and +6 ticks for a total of 9 ticks ($10/Tick) on 3 contracts.
Our second and final trade for the day came once again in the Crude Oil market (Symbol CL). A
2-step was forming to the short side once we saw price make a double top at a key level of resistance. After checking our multiple timeframes to ensure the best entry price, at 10:55am EST we entered short at a basis of 67.87 where we were able to take profits at +3 ticks, +6 ticks and letting our third contract run for +3 ticks totaling 12 ticks ($10/tick).
Today’s totals= 2 for 2 = $210 in profit!
Friday, July 24, 2009
More Of That Good Ol' Market Commentary
Market Content July 24, 2009
Well we at the School of trade would love to have more summer Fridays like this one. We took quite a few trades today and boy did they pay off!
Our first trade was early this morning on the Dax Futures (Symbol FDAX) at approximately 3:50am EST. We quickly noticed the Dax was failing to keep its new highs for the day, and automatically looked to go short with a classic 2-step to exploit it. We were able to take the Dax short at 5243, where we took profits at +4 ticks, +8 ticks and then just barely missed out third target to close the last contact out at a scratch. We still closed out the trade with 6 points of profit on the Dax though! ($35/point)
Our next trade came shortly after our first, and yet again on the Dax Futures (Symbol FDAX). While watching price action closely, we noticed that a potential James Wave set-up was becoming disqualified due to the overhead resistance it faced. So we then quickly began to look for our 2-step trend reversal trade. At 4:15 we were able to get into a 2-step short at 5298 taking our profits off the table at +4 ticks, +8 ticks and our final contract netting us +14 ticks for a total of 26 ticks! (13 full points/$35/point).
Quickly after the open of the commodities market, we saw a chance to scalp some quick profits off the Crude Oil (Symbol CL). We saw a great 2-step forming to the long side and decided to take it at 8:27am EST, getting our initial fill at 67.00. We got our first profit target at +3 ticks and then our automatic trade management kicked in and scratched us out of the rest of our trade at break-even.
We then saw another great 2-step set-up on Crude Oil (Symbol CL) at 8:51am EST, this time looking to take it short. This trade was more of a high risk due to support below us, but we decided to take it anyways and were filled at 67.21. The risk turned out to be right and we decided to get out of the trade early due to price action slowing down, and not in our favor, we took a small loss of -3 ticks/contract or -9 ticks total on 3 contracts,
The trades just kept on setting up for us today, and especially in the Crude Oil market (Symbol
CL). Around 9am EST we noticed Crude Oil was breaking out of a recent choppy market and we were quick to look for potential set-ups. After Disqualifying a James Wave short due to our trigger line not making lower lows, we instinctively looked for a 2-step to form. At 9:10am EST we took the Crude Oil long at 67.00, with profits being taken at +3 ticks and +6 ticks, our third contract was closed at break-even.
After waiting for the US markets to open up at 9:30am EST, we decided to scalp the Crude Oil market once again. At 9:48am EST we took a great 2-step short, getting filled at 67.34 and taking profits at +3 ticks before closing the remaining 2 contracts at break-even.
Within minutes, after continuing to watch the Crude Oil, we decided to get back into the market on a re-entry of our 2-step to the short side. At 9:50am EST, based on our previous trade, we re-entered the market at 67.34 where we took profits off at +3 ticks, +6 ticks and +10 ticks, for a total of 19 ticks.
Our final trade of the day could not have been any better, at 10:09am EST we saw yet again a 2-step setting up on the Dax Futures (Symbol FDAX). After referring to our rules to make sure the trade had the highest probability of success, we entered the market short at 5234.5. We were able to take our profits fairly quickly at +4 ticks, +8 ticks and +11 ticks for a total of 23 ticks or 11.5 full points ($35/point)
Totals total’s came out to be 7 trades for 8 taken, totaling $1,295 in profit! Again, this was a great way to end the week, especially in the summer.
Well we at the School of trade would love to have more summer Fridays like this one. We took quite a few trades today and boy did they pay off!
Our first trade was early this morning on the Dax Futures (Symbol FDAX) at approximately 3:50am EST. We quickly noticed the Dax was failing to keep its new highs for the day, and automatically looked to go short with a classic 2-step to exploit it. We were able to take the Dax short at 5243, where we took profits at +4 ticks, +8 ticks and then just barely missed out third target to close the last contact out at a scratch. We still closed out the trade with 6 points of profit on the Dax though! ($35/point)
Our next trade came shortly after our first, and yet again on the Dax Futures (Symbol FDAX). While watching price action closely, we noticed that a potential James Wave set-up was becoming disqualified due to the overhead resistance it faced. So we then quickly began to look for our 2-step trend reversal trade. At 4:15 we were able to get into a 2-step short at 5298 taking our profits off the table at +4 ticks, +8 ticks and our final contract netting us +14 ticks for a total of 26 ticks! (13 full points/$35/point).
Quickly after the open of the commodities market, we saw a chance to scalp some quick profits off the Crude Oil (Symbol CL). We saw a great 2-step forming to the long side and decided to take it at 8:27am EST, getting our initial fill at 67.00. We got our first profit target at +3 ticks and then our automatic trade management kicked in and scratched us out of the rest of our trade at break-even.
We then saw another great 2-step set-up on Crude Oil (Symbol CL) at 8:51am EST, this time looking to take it short. This trade was more of a high risk due to support below us, but we decided to take it anyways and were filled at 67.21. The risk turned out to be right and we decided to get out of the trade early due to price action slowing down, and not in our favor, we took a small loss of -3 ticks/contract or -9 ticks total on 3 contracts,
The trades just kept on setting up for us today, and especially in the Crude Oil market (Symbol
CL). Around 9am EST we noticed Crude Oil was breaking out of a recent choppy market and we were quick to look for potential set-ups. After Disqualifying a James Wave short due to our trigger line not making lower lows, we instinctively looked for a 2-step to form. At 9:10am EST we took the Crude Oil long at 67.00, with profits being taken at +3 ticks and +6 ticks, our third contract was closed at break-even.
After waiting for the US markets to open up at 9:30am EST, we decided to scalp the Crude Oil market once again. At 9:48am EST we took a great 2-step short, getting filled at 67.34 and taking profits at +3 ticks before closing the remaining 2 contracts at break-even.
Within minutes, after continuing to watch the Crude Oil, we decided to get back into the market on a re-entry of our 2-step to the short side. At 9:50am EST, based on our previous trade, we re-entered the market at 67.34 where we took profits off at +3 ticks, +6 ticks and +10 ticks, for a total of 19 ticks.
Our final trade of the day could not have been any better, at 10:09am EST we saw yet again a 2-step setting up on the Dax Futures (Symbol FDAX). After referring to our rules to make sure the trade had the highest probability of success, we entered the market short at 5234.5. We were able to take our profits fairly quickly at +4 ticks, +8 ticks and +11 ticks for a total of 23 ticks or 11.5 full points ($35/point)
Totals total’s came out to be 7 trades for 8 taken, totaling $1,295 in profit! Again, this was a great way to end the week, especially in the summer.
Thursday, July 23, 2009
Market Commentary from Schooloftrade.com
Market Content July 23, 2009
We started trading early this morning by taking a 2-step on the Dax Futures (Symbol FDAX). At 3:50am EST we entered the market short at a basis of 5128.5. While reading the tape, we saw the market quickly move in our favor after breaking dynamic support, where we locked in profits at +4 and +8 points, getting scratched out of the trade on our third contract for a total of 6 points on the Dax ($35/pt). Tomorrow should also be an interesting market to watching because the Dax broke above its 4 month highs later this morning!
Our second trade for the day came just prior to the open of the US market, this time on the
Crude Oil (Symbol CL). At 9:01am EST, we took a 2-step long at 65.17, once in the trade we noticed the tape sped up and got us our first target for +3 ticks ($10/tick) then with some overhead resistance playing an important role in our trade management, we were scratched out of the rest of our position, closing with a profit of +3 ticks.
The third trade of the day came shortly after our Crude Oil trade, at 9:07am EST we saw opportunity to the short side on the Euro Futures (Symbol 6E). We entered the market at 1.4206 with a James Wave set-up short. This was a higher risk trade because we were trading near a round number, but we were able to take profit quickly and got out of the trade after we didn’t see any real follow through after our first target was hit. We ended up closing our 2nd and 3rd contracts out manually and taking profits at +4 ticks, +2 ticks and being scratched out of our
third contract, for a total profit of 6 ticks (12.50/tick).
Our final trade came once again in the formation of a 2-step on the Crude Oil market. At 11:24am EST this morning we took the 2-step trade long with a basis of 66.43. This trade set up because the James Wave set-up actually failed, so intern, when the wave fails the 2-step will prevail. Entering the market at 66.43, we took our profits quickly as we always do and closed the trade with a +3 tick winner ($10/tick)
Today’s totals: 4 for 4, totaling $345 in profit!
We started trading early this morning by taking a 2-step on the Dax Futures (Symbol FDAX). At 3:50am EST we entered the market short at a basis of 5128.5. While reading the tape, we saw the market quickly move in our favor after breaking dynamic support, where we locked in profits at +4 and +8 points, getting scratched out of the trade on our third contract for a total of 6 points on the Dax ($35/pt). Tomorrow should also be an interesting market to watching because the Dax broke above its 4 month highs later this morning!
Our second trade for the day came just prior to the open of the US market, this time on the
Crude Oil (Symbol CL). At 9:01am EST, we took a 2-step long at 65.17, once in the trade we noticed the tape sped up and got us our first target for +3 ticks ($10/tick) then with some overhead resistance playing an important role in our trade management, we were scratched out of the rest of our position, closing with a profit of +3 ticks.
The third trade of the day came shortly after our Crude Oil trade, at 9:07am EST we saw opportunity to the short side on the Euro Futures (Symbol 6E). We entered the market at 1.4206 with a James Wave set-up short. This was a higher risk trade because we were trading near a round number, but we were able to take profit quickly and got out of the trade after we didn’t see any real follow through after our first target was hit. We ended up closing our 2nd and 3rd contracts out manually and taking profits at +4 ticks, +2 ticks and being scratched out of our
third contract, for a total profit of 6 ticks (12.50/tick).
Our final trade came once again in the formation of a 2-step on the Crude Oil market. At 11:24am EST this morning we took the 2-step trade long with a basis of 66.43. This trade set up because the James Wave set-up actually failed, so intern, when the wave fails the 2-step will prevail. Entering the market at 66.43, we took our profits quickly as we always do and closed the trade with a +3 tick winner ($10/tick)
Today’s totals: 4 for 4, totaling $345 in profit!
Wednesday, July 22, 2009
Day Trading Methods Euro Currency
Market Commentary July 22, 2009
Yet another Wacky Wednesday for trading today; on a day when most people would have given back all their profits for the week, we were able to end the day with profits! Even though our trades will show more losers than winners were taken today, it’s a testament to the James Wave trade management and strict stop loss levels that helped us keep our profits today.
Our first trade of the day came on the Crude Oil market (Symbol CL) at 3:57am EST. We took the Crude Oil market long with a 2-step at a price of 64.83. Once in the trade we actively managed it through our trade rules and ended up exiting early because we quickly saw sluggish price action come across the time and sales window. We closed the trade at -2 ticks or a total of -6 ticks on 3 contracts ($10/tick).
The second trade for the day came on the Dax Futures (Symbol FDAX) at 4:18am EST. Once again this trade set-up as a 2-step to the short side where we entered marketed based on the increased speed of the tape, and got a basis of 5076.5. From our entry price at 5076.5 we then took profit at +4 ticks, +8 ticks and +18 ticks totaling 30 ticks or 15 full Dax points! ($35/point)
About an hour later we saw yet another 2-step set-up on the Dax Futures (Symbol FDAX). At 5:03am EST we entered the market short at a basis price of 5062.5, unfortunately this 2-step short reversed rather quickly on us and our trade discipline got us out of the trade at a loss of -7 ticks (3.5 points) for a total loss of 21 ticks when trading 3 contracts.
Our fourth trade of the day came just prior to the US Market open at 8:46am EST on the Crude Oil (Symbol CL). A classic James Wave 2-step formed to the long side and we were able to enter the market at 64.46. We quickly watched our tape and saw the short term market sentiment changing, we closed our trade out, taking a small loss of 5 ticks of -18 ticks total on 3 contracts, ($10/tick)
The fifth trade of the day came on the Crude Oil (symbol CL) once again. This 2-step set-up occurred at 9:37am EST where we entered long at 64.00. With momentum on our side and seeing great follow through in the tape, we took profit at +3 ticks, +6 ticks and +2 ticks for a total of 11 ticks. ($10/tick)
Only minutes after our trade on Crude Oil we saw another great 2-step pattern on the Euro Futures (Symbol 6E). We entered the market long at 9:41am EST with a basis of 1.4172. We watched price action carefully to see if any significant follow through would come, after price tested our first target three times, our rules told us it’s time to get out. We ended up closing the trade with a scratch and with nothing gained or lost, it was a great example of how having discipline in your rules will save you money!
Our last trade for the day came on the E-Mini Russell (Symbol TF). Once more we saw a 2-step form to the long side. We were able to enter the market at 10:59am EST with a basis of 525.1. While in the trade, unfortunately we saw major sellers come across our tape, and realized quickly this trade would not hold to the long side, so we closed out quickly for only a -1 tick loss (-3 ticks total/ 3 contracts) at $10/tick.
Even though today we have more losing trades than winners, here’s how today’s Totals added up: 2 For 6, totaling $ 242.50 in profit!\
Yet another Wacky Wednesday for trading today; on a day when most people would have given back all their profits for the week, we were able to end the day with profits! Even though our trades will show more losers than winners were taken today, it’s a testament to the James Wave trade management and strict stop loss levels that helped us keep our profits today.
Our first trade of the day came on the Crude Oil market (Symbol CL) at 3:57am EST. We took the Crude Oil market long with a 2-step at a price of 64.83. Once in the trade we actively managed it through our trade rules and ended up exiting early because we quickly saw sluggish price action come across the time and sales window. We closed the trade at -2 ticks or a total of -6 ticks on 3 contracts ($10/tick).
The second trade for the day came on the Dax Futures (Symbol FDAX) at 4:18am EST. Once again this trade set-up as a 2-step to the short side where we entered marketed based on the increased speed of the tape, and got a basis of 5076.5. From our entry price at 5076.5 we then took profit at +4 ticks, +8 ticks and +18 ticks totaling 30 ticks or 15 full Dax points! ($35/point)
About an hour later we saw yet another 2-step set-up on the Dax Futures (Symbol FDAX). At 5:03am EST we entered the market short at a basis price of 5062.5, unfortunately this 2-step short reversed rather quickly on us and our trade discipline got us out of the trade at a loss of -7 ticks (3.5 points) for a total loss of 21 ticks when trading 3 contracts.
Our fourth trade of the day came just prior to the US Market open at 8:46am EST on the Crude Oil (Symbol CL). A classic James Wave 2-step formed to the long side and we were able to enter the market at 64.46. We quickly watched our tape and saw the short term market sentiment changing, we closed our trade out, taking a small loss of 5 ticks of -18 ticks total on 3 contracts, ($10/tick)
The fifth trade of the day came on the Crude Oil (symbol CL) once again. This 2-step set-up occurred at 9:37am EST where we entered long at 64.00. With momentum on our side and seeing great follow through in the tape, we took profit at +3 ticks, +6 ticks and +2 ticks for a total of 11 ticks. ($10/tick)
Only minutes after our trade on Crude Oil we saw another great 2-step pattern on the Euro Futures (Symbol 6E). We entered the market long at 9:41am EST with a basis of 1.4172. We watched price action carefully to see if any significant follow through would come, after price tested our first target three times, our rules told us it’s time to get out. We ended up closing the trade with a scratch and with nothing gained or lost, it was a great example of how having discipline in your rules will save you money!
Our last trade for the day came on the E-Mini Russell (Symbol TF). Once more we saw a 2-step form to the long side. We were able to enter the market at 10:59am EST with a basis of 525.1. While in the trade, unfortunately we saw major sellers come across our tape, and realized quickly this trade would not hold to the long side, so we closed out quickly for only a -1 tick loss (-3 ticks total/ 3 contracts) at $10/tick.
Even though today we have more losing trades than winners, here’s how today’s Totals added up: 2 For 6, totaling $ 242.50 in profit!\
Tuesday, July 21, 2009
Learn to Profitably Trade the Global Futures Markets
Market Content July 21, 2009
Today was a great example of why we trade multiple markets and how our trade set-ups can provide you with profits on those markets! All of our four trades today came on the Crude Oil market (Symbol CL) ($10/tick).
We started our morning off at 8:10am EST, again watching the Crude Oil. We did notice though up until about 8am EST the Crude market was in a sideways market, but after taking a closer right around 7:30am EST volume spiked up and started to increase into the open of the commodities market open at 8:20am EST. Originally the Crude Oil market gave us a James Wave long, but we were able to disqualify it due to a stutter step in price, which gave us a 2-Step to the short side, where we entered at 65.81 and took +3 ticks of profit before closing the trade with a scratch on our other 2 contracts. Giving us a profit of 3 ticks or $30.
The next trade set-up on Crude Oil came at 9:13am EST in the pattern of a 2-step short. We followed our rules and waited for 5 minutes after the BOC Rate Statement news came out at 9am EST, once this occurred Crude Oil started to move again---originally we saw a wave to the long side, but price did a classic stutter step after breaking resistance, where we instantly looked for a 2-step short at the highs. We entered short at 66.50 and took profits at +3 ticks, +6 ticks and +3 ticks totaling 12 ticks on 3 contracts or $120.
Our third trade came, again, in the form of a 2-step short. Prior to getting into this trade Ben Bernanke was speaking at 10am EST, we realized this and knew ahead of time to keep a very close eye on price action, incase price slows down on us while in a trade and gives us an early exit signal. So at 10:02am EST we entered short at 66.03 where we took profits off the table at +3 ticks, +6 ticks and finally closed the trade with +29 ticks on our last contract for a total of 38 ticks on the trade. Our rules got us into this trade and our management of the trade is the only reason we were able to lock in the profits we did, closed with $380 of profit.
The last trade of the day for us came at 12:02am EST on the CL. We once again went long off a James Wave 2-step at a basis price of 65.05. We took our initial +3 ticks of profit and were then scratched out of the rest of our trade, locking in a profit of $30 ($10/tick) Our trade management automatically moves our stop to break-even once we reach our first target, so this enables us to lock in profit very quickly and close our trades with a profit instead of a loss.
Today’s trades totaled 56 Ticks on the Crude Oil market ($10/T), totaling $560 on 3 contracts.
To join one of the fastest growing communities of day traders, please visit http://www.schooloftrade.com/ to join as a member. Also ask about our discount package!
Today was a great example of why we trade multiple markets and how our trade set-ups can provide you with profits on those markets! All of our four trades today came on the Crude Oil market (Symbol CL) ($10/tick).
We started our morning off at 8:10am EST, again watching the Crude Oil. We did notice though up until about 8am EST the Crude market was in a sideways market, but after taking a closer right around 7:30am EST volume spiked up and started to increase into the open of the commodities market open at 8:20am EST. Originally the Crude Oil market gave us a James Wave long, but we were able to disqualify it due to a stutter step in price, which gave us a 2-Step to the short side, where we entered at 65.81 and took +3 ticks of profit before closing the trade with a scratch on our other 2 contracts. Giving us a profit of 3 ticks or $30.
The next trade set-up on Crude Oil came at 9:13am EST in the pattern of a 2-step short. We followed our rules and waited for 5 minutes after the BOC Rate Statement news came out at 9am EST, once this occurred Crude Oil started to move again---originally we saw a wave to the long side, but price did a classic stutter step after breaking resistance, where we instantly looked for a 2-step short at the highs. We entered short at 66.50 and took profits at +3 ticks, +6 ticks and +3 ticks totaling 12 ticks on 3 contracts or $120.
Our third trade came, again, in the form of a 2-step short. Prior to getting into this trade Ben Bernanke was speaking at 10am EST, we realized this and knew ahead of time to keep a very close eye on price action, incase price slows down on us while in a trade and gives us an early exit signal. So at 10:02am EST we entered short at 66.03 where we took profits off the table at +3 ticks, +6 ticks and finally closed the trade with +29 ticks on our last contract for a total of 38 ticks on the trade. Our rules got us into this trade and our management of the trade is the only reason we were able to lock in the profits we did, closed with $380 of profit.
The last trade of the day for us came at 12:02am EST on the CL. We once again went long off a James Wave 2-step at a basis price of 65.05. We took our initial +3 ticks of profit and were then scratched out of the rest of our trade, locking in a profit of $30 ($10/tick) Our trade management automatically moves our stop to break-even once we reach our first target, so this enables us to lock in profit very quickly and close our trades with a profit instead of a loss.
Today’s trades totaled 56 Ticks on the Crude Oil market ($10/T), totaling $560 on 3 contracts.
To join one of the fastest growing communities of day traders, please visit http://www.schooloftrade.com/ to join as a member. Also ask about our discount package!
Monday, July 20, 2009
Learn To Trade, Market Commentary. Scalping The Markets
Market Content 7-20-09
Once again the rules we follow for the James Wave set-ups have saved us from losses and allowed us to keep our profits. In a low volume market such as we have in these summer months, today PATIENCE was the key to our success.
Our first trade came at 10:12am EST in the form of a picture perfect wave short on the E-Mini Russell 2000 (Symbol TF). Our entry price got us in the market at 521.20 where we saw volume increase and momentum turn in our favor, we took profits at +3 points, +6 points, and on our third and final contract we closed out at a scratch for a total of 9 ticks in profit ($10/T). One of the main reasons our third profit target ended in a scratch was because we didn’t trail our final stop, a small mental mistake on our part. No trader is perfect, and we at least walked away a winner!
The second trade for the day came on the Gold Futures (Symbol GC) at 10:19am EST. This trade structure developed into a 2-Step long where we were able to enter the market at 952.0. Once in the trade we quickly checked our market indicators and saw price action on the tape slowing down, this combined with overhead resistance allowed us to cut the trade early, saving some losses, and getting out at -6 ticks (-18 ticks total on 3 contracts @ $10/tick) instead of -8 ticks. Our ability to view market sentiment changing while watching our trade saved us money and allowed us to exit the trade at the correct time.
The third trade for the day was another set-up on the Gold Futures market (Symbol GC). We entered the market at 10:58am with a basis price of 947.8 to the long side. This was yet another 2-step trade and as we watched price action on the tape closely we were able to stay in this trade for a profit. We also took a look at some of our slower time frames to decide a good price to exit the trade, after taking profit at +3 points, and + 3 points, our final target we let run for a profit of +7 totaling 13 ticks ($10/T). The reason we were able to squeeze some more profits out of this trade was our use of multiple timeframe charts, when referencing these, it is easy to see overhead resistance or support below you to exit the trade.
The final trade of the day came just before lunch in the US markets on Crude Oil (Symbol CL). We took this 2-step trade long at 11:14am EST with a basis price of 64.43. Volume was the key for crude oil today; early on we noticed that the contracts had changed months and now more volume was trading on the Crude Oil September contracts instead of August. We were able to take profit at +3 points, +6 points, and then once again trailed the final stop to lock in another 18 ticks! Giving us a total of 27 Ticks ($10/tick) for the trade and keeping us profitable for the day.
Today we went 3 for 4 on our trades, for a total profit of $310.
Once again the rules we follow for the James Wave set-ups have saved us from losses and allowed us to keep our profits. In a low volume market such as we have in these summer months, today PATIENCE was the key to our success.
Our first trade came at 10:12am EST in the form of a picture perfect wave short on the E-Mini Russell 2000 (Symbol TF). Our entry price got us in the market at 521.20 where we saw volume increase and momentum turn in our favor, we took profits at +3 points, +6 points, and on our third and final contract we closed out at a scratch for a total of 9 ticks in profit ($10/T). One of the main reasons our third profit target ended in a scratch was because we didn’t trail our final stop, a small mental mistake on our part. No trader is perfect, and we at least walked away a winner!
The second trade for the day came on the Gold Futures (Symbol GC) at 10:19am EST. This trade structure developed into a 2-Step long where we were able to enter the market at 952.0. Once in the trade we quickly checked our market indicators and saw price action on the tape slowing down, this combined with overhead resistance allowed us to cut the trade early, saving some losses, and getting out at -6 ticks (-18 ticks total on 3 contracts @ $10/tick) instead of -8 ticks. Our ability to view market sentiment changing while watching our trade saved us money and allowed us to exit the trade at the correct time.
The third trade for the day was another set-up on the Gold Futures market (Symbol GC). We entered the market at 10:58am with a basis price of 947.8 to the long side. This was yet another 2-step trade and as we watched price action on the tape closely we were able to stay in this trade for a profit. We also took a look at some of our slower time frames to decide a good price to exit the trade, after taking profit at +3 points, and + 3 points, our final target we let run for a profit of +7 totaling 13 ticks ($10/T). The reason we were able to squeeze some more profits out of this trade was our use of multiple timeframe charts, when referencing these, it is easy to see overhead resistance or support below you to exit the trade.
The final trade of the day came just before lunch in the US markets on Crude Oil (Symbol CL). We took this 2-step trade long at 11:14am EST with a basis price of 64.43. Volume was the key for crude oil today; early on we noticed that the contracts had changed months and now more volume was trading on the Crude Oil September contracts instead of August. We were able to take profit at +3 points, +6 points, and then once again trailed the final stop to lock in another 18 ticks! Giving us a total of 27 Ticks ($10/tick) for the trade and keeping us profitable for the day.
Today we went 3 for 4 on our trades, for a total profit of $310.
Friday, July 17, 2009
Learn To Trade Stock Patterns
Market Content 7-17-09
Well I’m sure we all wish every Friday in these summer months could be like todays! We started our day off with a little riskier trade than usual on the Dax Futures (Symbol FDAX) at 3:10am EST seeing a great 2-step formation to the short side at a price of 4996. The trade involved higher risk because our EMA indicator, which is our trigger line, was moving a little slower than usual. Once again though we relied on our rules and read the tape to determine the best time to enter our trade. Patience was a key factor in this trades success, and it shows because we took the trade for profits of +2, +4, and +10 for a total of 16 points on 3 contracts.
Shortly after our first trade of the day, the Dax Futures (Symbol FDAX) provided us with yet another 2-Step pattern to take short at 3:42am EST. This was another risky trade, but again the rules we follow make even the riskiest trades profitable because of the discipline we instill in them. The risk came in the form of lower volume than usual, but our technical indicators as well as the tape provided us with enough information to take the trade. We entered short at 5003.0 where we took profits at our targets of +2, +4, and +4 for a total of 10 points on 3 contracts.
Our third trade came at 3:56am EST, yet again on the Dax Futures (Symbol FDAX) and involving another 2-Step set-up to the long side. We entered the market long at a price of 5016.5 with all of our indicators telling us to take the trade, we shortly found out though that sellers took control, but not before we managed to scalp +2 points from the market, closing the trade with a profit.
The James Wave set-ups occurred for a fourth time on the Dax Futures (Symbol FDAX) at 4:24am EST providing us with a Wave long at 5013.5. We entered this trade after seeing a strong push in price come across the tape, we then kept our eyes on the tape and watched as our momentum indicator began to curl upwards just enough for us to scalp the Dax for a profit of +2.5 points.
The fifth trade of the day came early on in the Crude Oil session (Symbol CL) at 9:05am EST this morning. Once again a perfect 2-step to the short side revealed itself. Watching our price levels and indicators with discipline we took the trade short at 61.96 for a quick scalp of +3 ticks and were then stopped out when the price action became increasingly choppy.
We then found ourselves again trading the Dax Futures (Symbol FDAX) shortly into the start of the US trading session. Our 2-Step trade appeared in the market at 9:45am EST when we entered the market at a price of 4988.5. Price action shortly changed on us, and we ended up taking a stop loss for -15 points.
Trying our hardest to follow our rules and not to chase trades in an effort to make up for the previous stop we took, a perfect 2-step set-up occurred yet again in the Crude Oil market. This trade worked out so well we took it twice! First we entered the market at 10:09 am EST at 63.23 short where the momentum was in our favor and we were able to scalp a profit of +3 points. We were shortly stopped out due to a pull-back in market price, but our ability to read the tape gave us a great opportunity for a re-entry less than a minute later! We entered short once again at 63.24 and took another +3 points from the Crude Oil market before getting scratched out. These two trades gave us a combined 6 points total.
The second to last trade of the day came on Crude Oil again at 10:24am EST this morning. We saw a great James Wave set-up long. When we saw momentum curling in our direction and the speed of the tape on our side we entered the market at 63.59, taking profits at +4, +8, and trailing our stop on our final target to lock in the most profits possible of +7, giving us a total of 19 ticks on the trade.
Our last trade of the day came just shortly before the US markets took their usual lunch, and on Crude Oil again! We noticed at 10:57am EST a 2-Step pattern set-up perfectly, allowing us to get a great position at 63.08. With our strict trade management rules we were able to take profit at +3, and +6 ticks before ending our last contract for a scratch, giving us a total of 9 ticks on a 3 contract trade.
We ended up going 9 FOR 10 Today with a total profit of +$ 912.50
+15.5 pts DAX ($35/pt) = $542.50
+37 T CRUDE ($10/tick) = $370
Thursday, July 16, 2009
Much Better than automated day trading software.
Market Commentary 7-16-09
Yet another successful day at the School of Trade live trade room. We started our morning off with our first trade on the Dax Futures (Symbol FDAX) at 4:24 am EST. The set-up that occurred was a classic 2-step formation with an initial entry at 4917, but before we entered this counter-trend trade, we made sure to follow our rules. On this trade we waited while reading the ticker tape to see some follow through in price at our 4917 level. Once this occurred we entered the market long at 4918.5, sellers entered the market quicker than anticipated, but we still were able to close the trade at +2 points ($35/point).
Very shortly after our 2-step set-up we continued to watch the tape and saw a group of large buy orders fly across the tape. This gave us a chance to look at the tape once again and make a possible re-entry to the previous 2-step set-up on the Dax Futures (symbol FDAX). This was a more advanced entry in the form of a wave type pattern and was yet again successful. We entered the market long at 4:25 am EST at a price of 4924. With the speed of the tape on our side this re-entry trade netted us profits of +2 and +4 totaling 6 points; giving us a total of 8 points between the two trades, and at $35/point a profit of $280 trading 3 contracts.
Our third and final trade for the day came at 8:39 am EST where we took the Dax Futures (symbol FDAX) short at 4978.5. This trade came in the form of a perfect James Wave set-up, selling hard off the 5000 price level on the Dax. We also took into consideration the volume in the market at the time, while seeing it decrease at its attempt to break out of 5000 on the Dax, it began increasing as it came off the highs giving us tremendous opportunity for a Wave set-up. As the market sentiment told us there were more sellers now in the market we looked to see more follow through on the tape and momentum to curl down, once this occurred we entered the Dax short at an entry price of 4978.5. Soon after entering we saw volume on our side and had profits of +3, +6, +7 points for a total of 16 points on 3 contracts. This trade resulted in a profit of $560, with a total of $840 for the day and once again DISCIPLINE was the key to another successful trading day.
Yet another successful day at the School of Trade live trade room. We started our morning off with our first trade on the Dax Futures (Symbol FDAX) at 4:24 am EST. The set-up that occurred was a classic 2-step formation with an initial entry at 4917, but before we entered this counter-trend trade, we made sure to follow our rules. On this trade we waited while reading the ticker tape to see some follow through in price at our 4917 level. Once this occurred we entered the market long at 4918.5, sellers entered the market quicker than anticipated, but we still were able to close the trade at +2 points ($35/point).
Very shortly after our 2-step set-up we continued to watch the tape and saw a group of large buy orders fly across the tape. This gave us a chance to look at the tape once again and make a possible re-entry to the previous 2-step set-up on the Dax Futures (symbol FDAX). This was a more advanced entry in the form of a wave type pattern and was yet again successful. We entered the market long at 4:25 am EST at a price of 4924. With the speed of the tape on our side this re-entry trade netted us profits of +2 and +4 totaling 6 points; giving us a total of 8 points between the two trades, and at $35/point a profit of $280 trading 3 contracts.
Our third and final trade for the day came at 8:39 am EST where we took the Dax Futures (symbol FDAX) short at 4978.5. This trade came in the form of a perfect James Wave set-up, selling hard off the 5000 price level on the Dax. We also took into consideration the volume in the market at the time, while seeing it decrease at its attempt to break out of 5000 on the Dax, it began increasing as it came off the highs giving us tremendous opportunity for a Wave set-up. As the market sentiment told us there were more sellers now in the market we looked to see more follow through on the tape and momentum to curl down, once this occurred we entered the Dax short at an entry price of 4978.5. Soon after entering we saw volume on our side and had profits of +3, +6, +7 points for a total of 16 points on 3 contracts. This trade resulted in a profit of $560, with a total of $840 for the day and once again DISCIPLINE was the key to another successful trading day.
Wednesday, July 15, 2009
Daily market commentary from schooloftrade.com
Market Commentary for 7-13-09
Today, 07-13-09, we began the morning scalping some profits off the Dax futures (symbol FDAX) at 8:47 am EST. While seeing great size come across the ticker tape shortly before the start of the US session, another great James Wave set-up occurred, in the form of a 2-step counter-trend trade. With momentum turning in our direction, and discipline playing a crucial factor, we closed with a profit of 15 points, and ended up taking profit just a few ticks before a line of support making this short at 4662.5 a +2 +4 +9 trade with 3 contracts equaling $525($35/point).
Shortly after our winning trade on the Dax futures, we saw another 2-step counter-trend trade on the Euro (symbol 6E). Our 2-step trade was taken at 10:15 am EST at a price of 1.3929; we took profit at +3 points, and then were stopped out at break even for a profit of $37.50 ($12.50/point).
Today was another great day of trading; proving that the education and discipline taught from the James Wave system is profitable when you follow the rules! Today’s totals were 2 for 2 for a total profit of $562.50.
Today, 07-13-09, we began the morning scalping some profits off the Dax futures (symbol FDAX) at 8:47 am EST. While seeing great size come across the ticker tape shortly before the start of the US session, another great James Wave set-up occurred, in the form of a 2-step counter-trend trade. With momentum turning in our direction, and discipline playing a crucial factor, we closed with a profit of 15 points, and ended up taking profit just a few ticks before a line of support making this short at 4662.5 a +2 +4 +9 trade with 3 contracts equaling $525($35/point).
Shortly after our winning trade on the Dax futures, we saw another 2-step counter-trend trade on the Euro (symbol 6E). Our 2-step trade was taken at 10:15 am EST at a price of 1.3929; we took profit at +3 points, and then were stopped out at break even for a profit of $37.50 ($12.50/point).
Today was another great day of trading; proving that the education and discipline taught from the James Wave system is profitable when you follow the rules! Today’s totals were 2 for 2 for a total profit of $562.50.
Thursday, July 9, 2009
Day trading futures strategies
Having trouble learning how to Day Trade? Not sure who to trust ? These are questions that many of you ask yourself everyday. This is a huge problem with consumers that are looking to invest in a Day Trading Education. The SchoolOfTrade is now offering a free 3 week trial session so you can come into our live trade room everyday and test out our service before you trust any of our competitors. The live trade room opens Monday through Friday at 2:45 am pst. and closes at 12 noon pst. SchoolOfTrade is one of the largest growing communities of Day Traders, visit our site at http://www.schooloftrade.com/ and you be amazed by our quality andexcellence that we offer.
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