Owner: Pure Tick Futures Trading URL:http://www.puretick.com Join Date: Tue, 26 Dec 2006 12:22:04 -0600 Rating:0 Site Description: Providing accurate guaranteed trading calls and advice for new & current traders. We do this in our audio/visual chat room. The site offers a variety of free advice/help for the new trader. Site statistics:Click here
Jan 22, 2007 Mon Afternoon Session 2007-01-22 23:47:51 The afternoon was mostly choppy sideways price action, which often happens if there is a strong trending move in the morning. There were two Official Room Call triggers which were both overbought short triggers (which got us in line with the bearish state of the filters). Our first trigger after deadzone was issued at 2:09 PM EST from the market entry price of 12524 with a 12543 stop and 12516 target 1. The target 1 was hit but just barely. Instructions were given to traders to scale out part of the position due to there being strong support at the 12517 level before target 1 was hit. If you had entered at the market price and got out at target 1, you would have snagged 8 points. Our second overbought trigger for the afternoon was issued at 3:49 PM from the market price of 12533 with an initial stop of 12547 and target 1 of 12523.  Alex warned that being so close to the end of the trading session, the action might be equivalent to deadzone (this is a big clue that if y Read more:Afternoon
Jan 22, 2007 Mon Morning Session 2007-01-22 19:53:29 There was no gap of any significance in the early morning to be played. Due to the extremely weak nature of the market today, our first two long trigger calls (counter trend) which were issued from strong support levels (the S1 YM pivot at 9:54 AM and the S3 YM pivot at 10:26 AM) were both stopped out. If you had used our market fill prices and “catastrophe stops”, at worst your losses were -12 and -18. Those scaling in contracts lower and scaling out added contracts near BE or better etc., or who got better fills did not take the worst-case stops. For example, I (bearishtrader) personally scaled in two contracts on the first trigger call making +6 on one contract and losing -12 on the second. Our third trigger made on a lows-of-the day bounce was called at 11:09 AM from a market fill price of 12512-12513 and reached its target 1 of 12521. You would have gotten 8-9 points if getting in at market and sticking to target 1.  From room member posts, 8-11 points Read more:Morning
Jan 23, 2007 Tues Afternoon Session 2007-01-23 22:55:05 We had one Official Room Call trigger long, which allowed us to climb on board with the bullish filters on a retracement (eventually the buying did exhaust and the selling began). The oversold trigger was issued by Alex at 2:35 PM EST as the selling looked like it had been exhausted. The entry price was 12565 if going in at the market on the signal with an initial target of 12572 and stop of 12551. The first target was hit, and Alex advised that the second target of 12577 would probably not get hit and to take profits. If you had gotten in at the market entry price and stuck to target 1, you would have gotten 7 points on the trade. Room members posted real-life profits achieved of between 6-8 points for this trade. Today’s audio transcript has some of the basics of tape reading (reading the time and sales prints), which Alex learned from one of his mentors. Subscribers have access to all audio transcripts in addition to our specialized trading setup parameters s Read more:Afternoon
Jan 23, 2007 Tues Morning Session 2007-01-23 20:05:20 We have had a great morning for our Official Room Calls, as all three Room Calls were profitable. The MaxSpan (15 min opening range breakout/breakdown strategy trade) signal was issued long by CajunSniper at 10:01 AM EST from a fill price of 12549, right after Alex’s first trigger short signal was issued from 10:00 AM EST, which had a fill price of 12441-12443 and 12567 stop. Often we will have MaxSpan signals firing at the same time or still active as our trigger signals are firing so it is best to trade MaxSpan in a separate account. Our first trigger’s target was 12436 giving traders 5-7 points if they had entered at the market fill price and exited as the “new traders get out here” warning was given. There were instructions that 12448 (nearer the daily YM pivot of 12552) would be a good place to add. Those who got better fills or added higher near the daily pivot did better, and the real-life profit levels per room member posts were 8-9 points. Read more:Morning
Self Doubt! Not the best response to trading losses 2007-01-25 02:23:04 Self Doubt!
Not the best response to trading losses
Poor trading days happen!
True, the proportion of poor to satisfying trading days are proportional to a trader's trading skills; yet every trader who has pushed that button to the door of wealth has had it slammed in the face.Â
I have reviewed the Puretick written trading logs and discovered that traders have an almost uncanny ability to sniff out a bad day. My question is: "Do traders compound an uncooperative market into a series of poor trades?"Â
Early in the trading day comments abound—chart points, resistance levels, trend parameters, ideal stops. A trade is put on and good things are about to happen. The big boys are going to add fuel to the predicted market direction. First targets will be easily achieved. There may not be a need to lighten up and take partial profits because one can make more money by holding for the home run.Â
Then the unthinkable happens. The market does not cooperate and stops are hit. Ver
Jan 24, 2007 Wed Afternoon Session 2007-01-25 02:11:38 We had two Official Room Call triggers this afternoon. The first one was a long trigger issued by Alex at 1:48 PM EST from an entry price of 12623, which was an example of climbing aboard the bullish filters on a 38.2% retracement of the day’s up move, and the 50% retracement of the small swing between the 1:33-1:36 PM 3 minute candle low of 12614 and 1:39 PM EST - 1:42 PM EST 3 minute candle high of 12628, which had some nice long green up-candles and volume. The 50% retracement of that small swing was 12624. Although this first long trigger entry did not have volume at the time of entry the volume came in on the 1:57 PM - 2:00 PM 3 min candle: massive volume. The target 1 12631 and target 2 of 12636 were both hit. If you had stuck to target 1 and did not bail out early, you would have gotten 8 points on the trade. Granted most room members bailed out long before target 2 but those who held out with a trailing portion of their contracts got more points. The se Read more:Afternoon
Jan 24, 2007 Wed Morning Session 2007-01-24 20:57:47 Alex warned us that many gap players would be shorting the 11 point gap up in the YM this morning. Indeed the gap was filled at 10:24 AM EST. The first hour of trading was marked with very choppy back and forth price action, being condusive to bollinger band fades. Our first Official Room Call short trigger was issued at 11:00 AM EST from a market entry price of 12614-12616 and stop of 12629. The trigger short was stopped out as we got a hard ramp up for -15. Our MaxSpan (15 min opening range breakout/breakdown strategy) trend-following system fired a long signal 5 minute later (11:05 AM EST) at an entry price of 12631 after our first trigger short was stopped out (due to the morning chop zone being broken to the upside). The first target on the first 2/3 of MaxSpan was rached for +10 and the remaining 1/3 was stopped out for -6. The second trigger short issued at 11:12 AM EST with a 12634 market entry price and 12657 stop, projected a target 1 of 12627. The first tar Read more:Morning
Jan 25, 2007 Thur Afternoon Session 2007-01-25 23:24:50 There were not any major retracements to climb aboard short, in order to line up our trigger signals with the highly bearish filters, hence the fewer number of trading signals, although in retrospect you could probably have shorted most rallies with success. We had one Official Room Call trigger this afternoon, but it was a long signal, which actually did catch the YM near its lows today. The trade was issued at 3:32:49 PM EST with a market entry price of 12536 and stop of 12517 stop and 12544 initial target 1. Those who got in at market and got out at the 12537 price 3:48:14 PM EST when the “newbies get out here” alert was issued got +1 on the trade. Those who added lower and sold out near the original market entry got more points (between 2-5 points from room member posts). The trigger target 1 was eventually reached (target 1 was moved down to 12543 by the trigger) in addition to target 2 of 12547. If you had stuck with the trade until target 1 and got in at Read more:Afternoon
Jan 25, 2007 Thur Morning Session 2007-01-25 20:22:53 After having two strong trend-up days in a row, we were expecting some choppy behavior in the markets. As there was not much of a gap-up on the open we did not do any sort of gap related trades. The strategy in the morning was to try to fade (buy near) the daily YM pivot which was below our open price. The first Official Room Call was an oversold trigger long issued at 9:49:07 AM EST by Alex at a market entry price of 12645 with stop of 12629 and 12652 target 1. The first target was hit. Those who got in at the market entry price and stuck with target 1 got 7 points. Real-life profit levels were mostly in the 5-8 point range, although those trading multiple contracts did scale out earlier or scratch their remaining contracts which they were holding for more upside. Alex warned that the daily YM pivot, which was acting as support, did look like it was about to crack due to the weak market internals. That is what happened, and we got a MaxSpan (15 minute opening breakout Read more:Morning
Jan 26, 2007 Fri Afternoon Session 2007-01-26 23:15:04 The afternoon did not continue the fierce downtrend started in the morning. Instead we got two hard ramp-ups that started at 2:16 PM EST and 3:09 PM EST. We only had one Offcial Room Call short in the afternoon, which was to short the exhaustion of the second ramp-up that started at 3:09 PM EST. The price got as high as 3 ticks above (12635) the .618 Fibonnacci retracement of the day’s sell-off (12632). The overbought trigger short signal was issued at 3:17:05 PM EST from a market fill price near 12527, targeting 12523 as target 1. If you had gotten in at the market entry and out at the first target you would have gotten 4 points on the trade. Those holding out for the 12518 target 2 would have gotten 9 points. Real-life profit levels ranged between 2-9 points per room member posts. Apparently our 4 day trend day cycle has been broken today by today’s afternoon action bringing the price up to yesterday’s low, rather than making a long red bar.Â
To Read more:Afternoon
Jan 26, 2007 Fri Morning Session 2007-01-26 19:34:34 There was a decent gap up this morning which was good for 28 points if you had shorted on the open and covered at yesterday’s close price of 12541. Alex issued a non-official pros only signal that you could short the gap and attempt a scalp by covering at the 50% gap retracement level (50% Fibonnacci retracement between the day’s open and yesterday’s close on the YM) of 12555. Note that we do not include any gap-related plays in our Official Room Calls and therefore track record as the stops required are very large and, we feel, not suitable for new traders. We publish our gap fill trade parameters for subscribers in a protected area of our forum. Many of our  room members do take the gap trades. Alex’s pros-only signals for gaps tend to be more scalp-type plays with smaller stops. Real-life profit levels as announced by room members varied between 4-13 points on the trade.   Having had 4 trend-type days in a row, we were anticipating a choppy Read more:Morning
Jan 29, 2007 Mon Afternoon Session 2007-01-29 23:20:28 We had no Official Room Call triggers for the afternoon, which was lacking in high probability setups. Besides the dump-off that gave back all of the day’s gains, which happened right at the end of deadzone/beginning of the afternoon session (the volume sell-off started at 1:45 PM EST, although there were clues the price was peaking out before this), there was not much action this afternoon. After returning from our lunch break, most of the selling had already occured: therefore prudence would dictate not to jump in to any positions right away. Alex did issue a pros-only signal to short a retracement of the sell-off but it was a higher risk trade and not suitable for Official Room Call status. By the close we ended up pretty much unchanged in terms of price since the open, and indeed the day ended up being a back-and-forth trading day. Today’s trading range of 81 points did indeed end up being the narrowest range trading day in the last 6 days (Last Mon=132, T Read more:Afternoon
Jan 29, 2007 Mon Morning Session 2007-01-29 20:09:15 We did not get a significant gap to play on the YM (there was a small 5 point gap up). Due to the large number of previous trending-type days last week, Alex warned us to expect choppy back and forth trading today and perhaps a narrow range trading day compared to preceding days (perhaps an “NR-6″ day, or narrowest range trading day in the last 6 daily bars). The market had a bullish start as the advancers-declines ramped up early in the AM and the price opened and held above the daily YM pivot price. On gap fill of the slight 5 point gap up, there were buyers and we got a nice bounce off the gap close level (Friday’s settlement/closing price of 12523). The daily YM pivot is positioned just two ticks below the gap fill price. We got in to another situation where our MaxSpan (15 min opening range breakout/breakdown trend following system trade) gave us a long signal, while an overbought trigger fired short at about the same time. We had an excellent trigger Read more:Morning
Jan 30, 2007 Tues Morning Session 2007-01-30 19:57:05 We had a small 8 point gap up on the open on the YM which was quickly filled. No buying support was seen at the gap fill price (yesterday’s settlement price) of 12525 but we did get some buying coming in near yesterday’s regular session low of 12513. The first 50 minutes of trading was choppy as it did seem the price wanted to go up but was held down by the daily YM pivot resistance. Alex and other more experienced room members did scalp the choppy ranges. This is one of those mornings where we did not get very many Official Room Call signals (high probability setups), which is indicative that this will be one of those tough days where opportunities will be slim and you should wait for decent setups in your own trading and not overtrade. The daily YM pivot did crack to the upside and the second test of the highs did got us in to the MaxSpan trade (15 minute opening range breakout/breakdown trend following system) at 10:33:52 AM from a market entry price of 1 Read more:Morning
Jan 31, 2007 Wed Morning Session - Fed Day 2007-01-31 18:49:08 The first hour of trading was very sideways and unexciting, which is to be expected in the time preceding Fed Day announcements (we will have the announcement at 2 PM EST today). We had two decent Official Room Call triggers this morning. MaxSpan (our 15 min opening range breakout/breakdown trend following system trade) again proved its effectiveness, despite skepticism that it might not work on Fed Day, which tends to have less volatility in most of the day preceding the announcement. CajunSniper issued the call slightly before his automated trading system kicked in to give us a heads up to enter the trade at 10:33:50 AM. MaxSpan was again profitable today reaching its +10 initial target on its first 2/3 and stopped out on its trailing 1/3 for -6, with only one stop in 17 trading sessions. We got an an overbought trigger short at 10:43:19 AM EST while MaxSpan was still alive (still trailing its remaining 1/3 position) from a market entry price of 12592 with stop of 12607 an Read more:Morning
Jan 30, 2007 Tues Afternoon Session 2007-01-31 16:13:11 We did have one Official Room Call short for the afternoon which was issued at 3:11:47 PM EST from a market entry price of 12550 with stop of 12561 and target 1 of 12542. The premise of the trade was a possible fake breakout of an obvious daily symmetric triangle formation. The trade was cut short by Alex as the tape looked like it might break out, as he warned that newbies should get out at 3:15:06 AM EST. Those who took the early signal to exit would have lost 2-3 points on the trade. The trade did eventually get to the target 1 of 12543, which would have given those who stuck with it 7 points. There was actually a decent deadzone trigger long issued from 1:41:25 EST from a 12541 market entry price with a 12526 stop and 12547 target 1, which was just four minutes shy of being in our afternoon session (and therefore main track record). As you know, we do not put deadzone timeframe trades (11:45 AM EST - 1:45 PM EST) in our main track record. A target 2 was given of 12552. Read more:Afternoon
Jan 31, 2007 Wed Afternoon Session - Fed Day 2007-02-01 00:23:26 After the Fed meeting, the market resolved itself to be powerfully bullish. We only had one Official Room Call signal for the afternoon, which was an overbought trigger short issued at 2:39:26 PM EST from a market entry price of 12561 and initial stop of 12581, playing an exhaustion of the up-move. Note that this would be considered a risky short as it was against extremely bullish filters, which means that you should have used light contracts. The target 1 of 12556 was achieved at about 2:53 PM EST on the second reaction down after the highs were re-tested and failed, giving one 5 points on the trade if entering at market and sticking with target 1. There were several non-official trades announced, but mostly for illustration due to our cautious stance for the Fed reactions trading. We did get our high volatility trending day today after our NR-7 (”narrow range seven”) day yesterday as the YM (Dow e-mini) has closed near its highs, above the daily YM R3 pivo Read more:Afternoon
Becoming Consistently Profitable! 2007-02-02 03:22:36 By Jason Chan
Before I started trading with a mentor I was net red 8-9/10 weeks.
1. Having a good mentor is important. Alex is a good mentor. I can always call him up to ask questions about the trades that I did or about market stuff, which is something that distinguishes Alex from other mentors: his high rate of accessibility and willingness to help new traders.
2. My losses are smaller, and I always have a catastrophic stop to follow (at worst) and that I stick to in case the trade goes against me (e.g. the trigger stop). I don’t end up green every day, but nowadays my red days are a lot smaller than the monster red days I used to have, that could wipe out a week’s profits.
3. Have confidence that the money will come maybe not now but eventually. Keep a steady, conservative pace. I am sticking with 1-2 contracts (at most 3, which is the size I use for his MaxSpan setup) for at least another month or two to make sure I can be consistently profitable before I try to incre Read more:Becoming
, Profitable
February 1, 2007 Afternoon Session 2007-02-01 23:38:10 The filters remained bullish throughout the afternoon and the YM price eventually took out the highs. Even after the cash close, there was still some strong buying. The market strength did surprise many of us, who might have expected the day to be range-bound, and therefore we did have a short-the-rallies mentality. We had two Official Room Call triggers in the afternoon, both of which were shorts. The first overbought trigger short was issued at 2:56:38 PM EST from a market price of 12696 with 12706 stop and 12687 target 1. The first trigger short had good setup characteristics but the market’s strength stopped us out for -10. Our second overbought trigger short was at 3:48:44 PM EST from a market entry price of 12707 and stop of 12723 with target 1 of 12699. As it was getting late in the day and near the cash close, Alex warned new traders to take profits at 3:59:13 PM EST where the price was printing 12703 and that pros could try to get the target 1 of 12699. Read more:Afternoon
, February
February 1, 2007 Thursday Morning Session 2007-02-01 19:31:01 We had a substantial 27 point gap-up this morning and per Alex gap players were short from the open. Per our research (CajunSniper) gaps after Fed days have an even greater probability of filling than normal (95% opposed to the normal 82% on Thursday
s). The morning’s price action occured in a choppy back-and-forth manner, with the filters primarily bullish and what seemed to be some choppy buying that wanted to break to the upside (which would make gap players and shorts very nervous), after the initial opening 3 min bar dump-off on the YM (Dow-emini). The “almost” breakout nearly triggered a MaxSpan (15 min opening range breakout/breakdown trade) long, but was tanked by the reaction to some econ numbers announced at 10 AM EST, on the 10:01 AM - 10:03 AM EST 3 minute bar. Some follow-through to the downside was shown as the selling did result in our first Official Room Call signal firing a MaxSpan short at 10:10:03 AM from an entry price of 12676. MaxSpan Read more:Morning
, February
February 2, 2007 Fri Morning Session 2007-02-02 19:47:23 We had an exciting morning. In fact, many of our pro traders began shorting in the pre-market to fade the bullish employment numbers and sentiment. The first fifteen minutes (we like to bracket the upper side and lower side of this range as an important indicator to see which side price falls on for the rest of the day, above is bullish, below is bearish) was pretty much a steady sell-off continuation from the pre-market. The small gap-up was immediately filled in the YM (Dow e-mini) on the opening 3 minute bar. Our first Official Room Call oversold trigger signal was to fade the daily YM pivot level for a bounce. The long was issued at 9:45:07 AM from a market entry price of 12698 with a warning to go light contracts, being against the filters (major trend). The stop was 12683 with a target 1 of 12705. The target 1 was hit, but the trade moved very fast so we will record this first trade as a small -4 point stop rather than as a profit to reflect a new trader’s sl Read more:Morning
, February
February 2, 2007 Fri Afternoon Session 2007-02-02 23:19:35 In the last 45 minutes of our deadzone (our lunchtime doldrums period is between 11:45 AM EST and 1:45 PM EST, when we usually take our lunch break), the YM (Dow e-mini) did test the lows of the day, and took them out by a few ticks, but found support. Our strategy in the afternoon was to short rallies, but primarily capital perservation of the morning’s decent gains. If you are heavily green in the morning, it is best to scale back contract size in the afternoon or refrain from trading if there are no decent setups. There were no Official Room Call triggers issued, as there were no high probability setups fitting Alex’s criteria. However, there were some personal account trades announced, primarily for instructional purposes.  We warn new traders not to take these trades as they are higher risk. Pros should use discretion when taking the personal account trades and go light contracts. The lows held and we got a weak bounce, sideways chop and a small ramp Read more:Afternoon
, February
February 5, 2007 Mon Morning Session 2007-02-05 19:20:49 The morning’s action can be characterized by choppy back-and forth swings. So far the day’s trading range is 42 points, making it the narrowest (so far) in the last 7 daily bars. For those who have been following our blog or daily recaps, we like to make note of the volatility and type of trading (chop or trend) which occurs as the daily volatility is predictive of what the next day’s trading action might be like. Today, we will make note of the afternoon trading action and close once it develops to see if we do get our NR-7 (”narrow range seven”) day. There were two Official Room Call signals issued in the morning. MaxSpan (our 15 minute opening range breakout/breakdown trend-following system trade) went short at 10:09:56 AM from a 12665 short entry price. MaxSpan stopped out of its trade at 1:01:50 PM EST for -40 points. Note that choppy days like today are not the greatest for MaxSpan, which is a trend following system which has been back Read more:February
, Morning
February 5, 2007 Mon Afternoon Session 2007-02-06 03:32:38 The afternoon’s action can be described as quiet, choppy back-and-forth trading with the swings oscillating over and under the daily YM pivot. Going in to the afternoon (we get back from our lunch break to start trading at 1:45 PM EST, which is the official end of our lunchtime doldrums period, or deadzone), the filters were slightly bullish. The highs slightly above the daily YM pivot were finally tested after an hour of quiet chop and we had our first (and only) Official Room Call signal to short an overbought trigger on a double top. The signal was issued at 2:43:32 PM EST from a market entry of 12704 and stop of 12720, with a target 1 of 12698. A target 2 was given of 12693 later on as the trade progressed. Both targets 1 and 2 were hit, which should have allowed those who got in at the market entry price and out at the target prices to get 6 and 11 points respectively. After the trigger signal was issued, there was a weak test of the highs that took the highs Read more:February
, Afternoon
February 6, 2007 Tues Afternoon Session 2007-02-07 05:21:42 The afternoon session began with a sell-off from the daily YM (Dow e-mini) pivot level which had been tested from below near the end of our deadzone period (11:45 AM EST - 1:45 PM EST). The sell-off from the daily pivot nearly tagged the S1 daily pivot support level, before the price rallied back up to the daily pivot and overshot the pivot by 6 points on the first test (see the 3:00 PM EST - 3:03 PM EST 3 minute candle). We had one Official Room Call signal which was an overbought short trigger which fired at 3:09:20 PM EST from a market entry price of 12693 with a stop of 12711 and target 1 of 12684. The trade did go on for some time, as there were several tests of the swing high just above the daily pivot which were all beat down by sellers. Eventually the daily pivot cracked to the downside.  There were alternate exit points issued which were shy of the original trigger target 1 (which Alex thought might not get hit). The first warning was at 3:39:15 PM EST where n Read more:February
, Afternoon
February 6, 2007 Tues Morning Session 2007-02-06 19:56:21 The morning trading was choppy with tests against both the upper and lower boundaries of the opening 15 minute range. The first convincing movement was a break above the 15 min opening range which did cause our MaxSpan (opening 15 min range breakout/breakdown system) signal to fire long as the price had been trading above the opening 15 min high for an adequate amount of time. MaxSpan went long at 9:53:59 from a market entry price of 12704. Heat was taken immediately on the trade as the YM price went to test the 15 minute opening range lows. Rallies were weak and lethargic compared to the sell-offs which were quicker and on more volume than the up moves. New highs could no longer be achieved, which was a clue that the market wanted to roll over. Also, the daily YM pivot was violated and there were no buyers stepping in at that level to bolster the YM above the pivot level. After the daily pivot had broken, the filters were in a declining state and the YM price was only a Read more:February
, Morning
February 7, 2007 Wed Morning Session 2007-02-08 09:42:37 The day opened with a small 8 point gap up in the YM (Dow e-mini). Sometimes Alex will call his version of the gap fill trades, and this morning he instructed in audio that you could short the open looking for a gap fill using a 20 point stop.  Note that this was a personal account trade signal (pros-only call that does not show up in our track record). The gap did fill which should have rewarded gap players with 8 points. At 9:35:33 AM Alex issued the first Official Room Call signal for new traders to go long just above the daily YM pivot level using a 12693 limit order and to take profits 6 points higher at 12699. The stop was given as 12677 as fills were achieved. Note that today Alex did not stamp the normal text macro for the signal (we instruct our traders to go market as soon as they see a Room Call signal with a portion of their total position) as he did not want traders to go in at market, as the price was too high when the signal was issued. The profit-tak Read more:February
, Morning
February 8, 2007 Thur Afternoon Session 2007-02-09 01:02:03 The morning’s severe sell-off that expanded the trading range for the day to 105 points recovered off the lows, but at a more gradual pace, forming an ascending triangle.   The bullishness of this rally conflicted with the bearish state of the filters. We had two Official Room Call signals issued in the afternoon, both of which were shorts, and our strategy was to short rallies to get in line with the bearish filters. The first Official Room Call signal in the afternoon was to short a daily retracement of the sell-off at 2:24:26 PM EST from a market entry price of 12647 (about at the daily 50% fib retracement level) with 12661 initial stop. It was possible to reallize partial profits on the trade if one had added higher than the specified market entry price (as Alex did) and sold near the market entry per Alex’s instructions (one room member did do this) on added contracts but the trade was ultimately stopped out as the now-standard first target of 5 points Read more:February
, Afternoon
February 8, 2007 Thurs Morning Session 2007-02-08 21:28:58 We had a substantial 30 point gap down today, which looks like at this point will not be filled as the morning has shown a heavy sell-off expanding the trading range on the daily bar to 105 points. The verdict is still out, however, as the markets can be bipolar in nature but it does appear like today will be a strong trend-down high volatility day. Note that we are revising our trade calling method to lock in profits and reduce the number of stops in addition to allowing new traders to get in on bigger moves such as the daily pivot dump-off yesterday (in other words maximize your profits). Some of the pros-only signals we issued in the past will in the future be issued as Official Room Calls with a detailed explanation for the premise in audio. Previously, only one particular kind of setup was considered for Official Room Call status. From now on our target 1 will always be 5 points from entry and no target 2 will be announced. Rather, the trailing portion of the trade wil Read more:February
, Thurs
, Morning
Feburary 7, 2007 Wed Afternoon Session 2007-02-08 19:29:36 Many of our traders pointed out a possible double top formation near the end of deadzone (our lunchtime doldrums period from 11:45 AM EST to 1:45 PM EST where signals are sometimes issued but highly discouraged for new traders to take them and do not show up in the main track record). Indeed the YM did get near but failed to make new highs and a trigger signal was issued (not an Official Room Call but one for the deadzone track record) at 1:14:56 PM EST from a market entry of 12729 with stop set at 12741 and trigger target 1 of 12721. If sticking with target 1 and filling at the specified levels, 8 points of profit should have been achieved. Real-life profit levels ranged between 7-8 points per room members who shared their profitability when the target 1 was hit. This trigger had the potential of being the mother of all trades, for those trailing, and it appears that one or more room members did try to hold out for more points as higher profit levels were announced. This Read more:Afternoon
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