Edition 299 Wednesday, May 19, 2010
Edition 299 Wednesday, May 19, 2010 |
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Commentary by Andy Jordan
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Weekly Spread Scan ExampleThis week we look at NGX0 – NGV0: long November 2010 Natural Gas and short October 2010 Natural Gas Today we consider a Natural Gas calendar spread: long November 2010 Natural Gas and short October 2010 Natural Gas (NGX0 – NGV0). After moving up nicely in April and May, the spread fell like a rock from its May high at 0.467 down to the April levels at around 0.345. Has this spread more potential to move even lower or will the spread turn around at this level? Aggressive traders might want to enter at the current level; all others might want to wait until the spread shows some strength and moves back up again. Seasonality goes from 05/04 until 07/31. |
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On May 4 we told subscribers of our professional daily spreads & position/swing trading newsletter Traders Notebook, "Consider entering a Lean Hogs calendar spread: long August and short July Lean Hogs (LHQ0 – LHN0) at -0.300 limit (GTC). Suggested risk is $400; suggest first target at 1.500, then higher. Basis is seasonal (5/10 – 6/7). "
Here's how we suggested managing this trade:
05/05 In at -0.300; suggest exiting the spread at a close below -1.300.
Visit our Spread Website for more information about our daily newsletter, Traders Notebook.
© 2010 by Trading Educators, Inc. Re-transmission or reproduction of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc
Student's Question: "Andy, what do you think about keeping a trading journal? "
Andy: The journal I keep is very basic. It includes what trades I made during the day, and my reasons for getting into the trade. My journal has changed a little bit over time, since my reasons for entering a trade now are pretty consistent. I think there are three good reasons for keeping a journal:
One reason is to have a manual backup in case there's a system or software failure. I have had to take advantage of this a couple of times, as in one instance where the software recorded the trade twice and put me short by mistake.
The second reason that I keep a journal is for learning and improving as a trader. I go back and review, trade by trade, what I was thinking and doing out of the ordinary in a given week that caused my results to be better or worse than average. And really, I don't need a lot of detail in the journal. For me, just having the trade and the time and any other comments, such as whether it was an active or quiet market, help me re-live the day.
The third reason I keep a journal is so I can find my way back in the event I drift away from what I was doing when I was winning. It’s like leaving a trail of pebbles so you can find your way home in case you get lost!
LEARN FROM MASTER TRADER JOE ROSS
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Many traders lose far more money in a few days than the price of the seminar. When you trade using the techniques you'll learn at the trading seminar, your losses will be considerably less, and your trading account will continue to grow as you apply what you learn.
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There is no "one" way to trade correctly. Trading is as individual in its nature as anything in this world can be. The only thing that is right is what works for you.
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Joe Ross has been trading the markets, virtually all of them, beginning
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The Spread Scan weekly newsletter is designed to assist you in becoming a better, more complete trader by showing you, within the context of the markets, how to trade spreads.
In this newsletter you will see applications of spreading in the futures and commodity markets. Spreads are applicable to all futures markets including currencies, commodities, financial instruments, and stock indexes. It is even possible to trade spreads in the all-electronic intraday market using day trading techniques.
Spreads are based on seasonality, correlation, backwardation, chart patterns, and simple observation. Spreads follow the Law of Charts™ and can be implemented using the Traders Trick™ entry.
In each issue of Spread Scan, you will find an upcoming spread trade for your consideration in the following week. You will also find a review of an existing or closed spread so you can see and learn how spread trades are managed.
Spreads offer you the most efficient use of your margin account of any other way to trade. Many traders find they like them so much that spreading becomes their primary way of trading.
Each week we present spread trading examples and opportunities to help you become a more professional spread trader, and we provide you with helpful content of interest to traders.
Be sure to "white list" us to receive all your issues of Spread Scan, so that you can continue to enjoy learning through the best free educational trading information available, and so that we can inform you about additional educational services and products to help you grow as a successful and profitable trader.
Educator for Spread & Swing Trading and Editor of Traders Notebook & Spread Scan
Andy Jordan made his first option trade at the age of 18. Since then he has been fascinated by the world of trading. In 2002 he met Joe Ross, and became interested in spread trading. Andy was then intensively tutored by Joe Ross and personnel at Trading Educators. Andy is the founder and president of Jordan Trading, S. A. Even though Andy has shown through live chats and in several trading journals that he is able to day trade today's markets, spread trading has always been his preference. In addition to his own spread trading activities, Andy is the editor of Traders Notebook. For those interested in one-on-one personal coaching, Andy has developed and instructs an online course in spread trading, "Trading Mentoring - Trade with a Pro," during which he demonstrates all aspects of trading from choosing the trades on through how and when to enter the trades, manage the trades, and exit the trades.
Andy Jordan was born 1965 in Germany, but is currently living in the Caribbean. He has studied mathematics and business administration in Regensburg and Hagen, and holds a PhD in mathematics.
Joe Ross has been trading and investing since his first trade at the age of 14, and is a well known Master Trader and Investor. He has survived all the up and downs of the markets because of his adaptable trading style, using a low-risk approach that produces consistent profits.
Joe Ross is the discoverer of the Ross hook™, and has set new standards for low-risk trading with his concepts of "The Law of Charts™ " and the "Traders Trick Entry™." Joe was a private trader and investor for much of his life, but a serious health situation in the late 80's caused him to shift his focus, and that is when he decided to share his knowledge. After his recovery, he founded Trading Educators in 1988, to teach aspiring traders how to make profits using his trading approach.
Joe Ross has written twelve major books and countless articles and essays about trading. All his books have become classics, and have been translated into various languages. His students from around the world number in the thousands. His file of letters containing thanks and appreciation from students on every continent (now including Antarctica) is huge. As one tutoring student, a successful trader, wrote: "You have no idea how much improvement in my life and in my trading efforts have those three days with you brought to me."
Joe Ross, the CEO of Trading Educators, holds a Bachelor of Science degree in Business Administration from the University of California at Los Angeles. He did his Masters work in Computer Sciences at the George Washington University extension in Norfolk, Virginia. He is listed in "Who's Who in America." After 5 decades of trading and investing, Joe Ross still tutors, teaches, writes, and trades regularly. Joe is the primary author and Editor-in-Chief of the company's newsletters: Chart Scan™, Spread Scan™, Options Scan™, and Traders Notebook™. He is also the host of the free Traders Live Chat, the free European Chat for Traders, and the moderator of his popular trading forum.
Joe's philosophy for helping traders is:
"Teach our students the truth in trading — teach them how to trade"
Joe sets forth the mission of Trading Educators as follows:
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Spread Scan is a complimentary educational letter.
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The Ultimate Trading Method
Trade many stock index futures, commodity futures, currency futures, forex pairs, or ETFs or CFDs on any of the markets mentioned.
Joe Ross and Trading Educators are happy to release the Ambush Trading Method™, through which you can ambush many stock index futures, commodity futures, currency futures, forex pairs, or ETFs or CFDs on any of the markets mentioned. If you want, you can ambush more than one market daily.
AMBUSH A MARKET OF YOUR CHOICE
The Ambush Trading Method™, which has been both back- and forward-tested, takes trades based on the daily chart. The entries are based on two very simple indicators that measure volatility and direction of the market, that are used in a way that actually makes sense. It's not a hocus-pocus method based on optimized backtesting hundreds of indicator-combinations; it's based on common sense.
Follow this link if you want to own this incredibly effective trading method today
TRADING STOCK OPTIONS
www.options-trading-education.net
Option trading education will open your eyes to how to trade options profitably. You will discover how to trade options and stocks independently, not by using a mechanical method that works in only one type of market.
Understanding how to trade stock options is Jim Augustine’s forte. Not only is Jim a superb trader, he is an excellent coach and trainer.
Keep reading about options trading education to find out!
As with all trading, we believe options trading education should be simple, not complicated. Trade what you see, and believe what you see. Trading options or, for that matter, trading stocks, futures, forex, or anything else, does not require complicated mechanical systems or rigid methods.
If you really want to successfully trade stock options, then you have come to the right place. You will be learning from two of the best option trading professionals - Jim Augustine and Joe Ross - with decades of trading experience behind them.
SIMPLICITY + THE CORRECT ACTION = PROFITS
Our options trading education offers:
Options Trading Seminar for Stocks
Incentive Stock Options, and Employees’ Stock Plans
Free Options Trading Newsletter "Options Scan"
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We focus on high probability, low-risk option trading. We trade using the Law of Charts. We know it works because we use it to trade our own money. What better testing can there be?
Sign up for our free Options Scan newsletter to see how we trade.
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