Edition 311 Wednesday, August 11, 2010
Edition 311 Wednesday, August 11, 2010 |
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Commentary by Andy Jordan
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Weekly Spread Scan ExampleThis week we look at NGX0 – NGV0:
Today we consider a Natural Gas calendar spread: long November Natural Gas and short October Natural Gas (NGX0 – NGV0). After dropping to a new low at the end of July, it seems the spread has found new strength, moving higher since then. After taking out the #2 point of a 1-2-3 low, the spread moved higher in big steps. I would recommend waiting for some weakness (maybe back to the dotted line) before entering the trade. Unfortunately, Natural Gas is quite an expensive market, and even the spread would require a risk between $750 and $1,000 per contract traded. |
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Previous TradesOn July 21 we told subscribers of our professional daily spreads & position/swing trading newsletter Traders Notebook, "Consider entering a Lean Hogs spread: Long August and short October Lean Hogs (LHQ0 – LHV0) at a close above 6.00. Suggested risk is $400; suggested first target at 7.70, then higher. Basis is seasonal (8/2 – 8/12) and a 1-2-3 low."
Here's how we suggested managing this trade: 07/22 Suggest entering MOO. Visit our Spread Website for more information about our daily newsletter, Traders Notebook. |
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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 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.
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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.
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