Edition 318 Wednesday, September 29, 2010
Edition 318 Wednesday, September 29, 2010 |
|
|
|
| If you have problems reading this newsletter, please follow this link Add Spread Scan (info@spread-trading.com) to your address book to ensure complete delivery. Learn more. Spread Scan with Commentary
|
|||||||||||||||
 |
Commentary by Andy Jordan
|
Weekly Spread Scan ExampleThis week we look at HOH1 – HOZ0: long March 2011 Heating Oil and short December 2010 Heating Oi Today we consider once again a Heating Oil calendar spread: long March 2011 Heating Oil and short December 2010 Heating Oil (HOH1 – HOZ0). We looked at this spread last week. But instead of moving higher, the spread made a new low on Monday 09/, and negated the 1-2-3 low formation (red #3 from last week is not shown). Now, a week later, we once again get a possible 1-2-3 low formation (black) with a possible entry at a close above 3.91 (the #2). A drop below the #1 would negate the chart formation once again. This illustrates the simple use of the Law of Charts (and its value in helping keep us from too early an entry) together with seasonality in spread trading. |
|
On September 1 we told subscribers of our professional daily spreads & position/swing trading newsletter Traders Notebook, "Consider entering a Soybean Meal calendar spread: long December and short July Soybean Meal (SMZ0 – SMN1) at -3.0 limit GTC (scaling in first lot). Suggested risk is $350 (trading at least 2 lots). Comment: This spread is moving lower in big steps. Because the spread might fall even more, I will enter with only the first lot, keeping the second for later (at -6 if it moves down even further)."
Here's how we suggested managing this trade:
09/02 It was possible entering with the first lot at -3.0. Let’s see how this spread develops over the next few days/weeks.
09/10 Suggest putting on the second lot at -6.0 limit GTC.
09/13 In with the second lot at -6.0. We are now in at -4.5 on average; suggest exiting the spread at a close below -8.0.
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
How to approach trading - Discipline Is the Key
You will need discipline in several areas to be successful. You'll need the discipline to make a plan rather than shooting from the hip. Without discipline, many traders approach the markets as they would a craps table, and they can expect the same results: short-term successes based on luck, and long-term losses based on randomness.
Second, you'll need the discipline to follow your plan. If you change your strategy at the first setback, did you really have a plan in the first place? You must not second-guess your strategy. Take every trade according to the rules — but if you see a rule is not working, do not be afraid to change it.
Third, you'll need the discipline to evaluate your plan. If it is working, don't mess with it, but be honest enough after some time to be able to admit to possible flaws. Anything you do gives you experience. As a result, you can look at your decisions and resolve to change them in the future. Use them as a learning experience, rather than accepting the setback judgmentally by thinking 'I have failed.' Discipline is the key word.
Learn from Master Trader Joe Ross. We know this live
online seminar will forever change your understanding
of the markets, and be a life-changing experience for you.
The "Life Index for Traders™" simplifies the process of tracking, charting, and evaluating your trading and
other aspects of your life, saving you valuable time.The Life Index™ is a simple concept that, when applied diligently, will guide you into becoming a more successful trader as well as a more successful person. Joe Ross developed it many years ago to help build the right kind of character and to develop the right mindset for trading.
If you ORDER THE LIFE INDEX FOR TRADERS™ we give you our EQUITY EVALUATOR™ free!!
The Equity Evaluator™ lets you see exactly how well you are doing in the markets. But it does even more than that. The Equity Evaluator tells you when you need to stop trading long enough to take a serious look at your Life Index. It tells you when you need to paper trade, and it tells you when it's okay to trade with real money. The Life Index for Traders (LIFT) and the Equity Evaluator™ work hand-in-hand to ensure your trading success. Follow this link to find out more..
"I truly believe Life Index for Traders is an excellent and very helpful tool in becoming better - a better, smarter trader, but also a better, more fulfilled person. I first found it in Joe Ross' book "Trading Is a Business" which to me is certainly the most valuable book about trading. Life Index for Traders e-book is so nicely done that I have soon notice I have become “addicted” to it. It has rapidly become a pleasant and easy to follow habit. It is not only about constant self-evaluation. I think one of the most important things about the Life Index is that it shows you on every day basis what is important for you to do as a trader. And sooner or later you do it. You implement new good habits in your life, one by one. Excellent tool! Extremely efficient! Thank you Joe!!!"
-- Michal Abel, Poland
If you wish to review Spread Scans from the past 3 months,
please follow any of the following links to its weekly issue:
July 2010 |
August 2010 |
September 2010 |
|
|
|
NEXT LIVE CHAT SESSIONS WITH JOE ROSS:
Wednesday, September 29, 2010
We
hope you will join us!
Here
is where you login to Joe's Wednesday Chat
You can also view our saved weekly Chat Logs in case
you missed any Chats but want to be up-to-date
NEXT EURO CHAT SESSION WITH JOE ROSS:
Wednesday, September 29, 2010
We hope you will join us!
Here is where you login to Joe's Euro Chat
You can also view our saved weekly Chat Logs in case
you missed any Chats but want to be up-to-date.
 |
We created our Trading Community Forum for the purpose of providing positive, uplifting educational material to traders who want to participate. There is much to be gained from the collective wisdom and experiences of those who choose to participate. Let's share what we have learned that has been helpful. Let's all push forward to exchange new ideas and interesting concepts. |
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.
If
you are willing to share what works for you, then we welcome you.
Your ideas may help someone else on his/her way to success. In turn,
you may pick up an idea or piece of information that will help you
to become a better trader.
Joe Ross has been trading the markets, virtually all of them, beginning
over five decades ago. He is now in his seventh decade
of life, so he has the experiences of many years that he is willing
to share, as he is already doing through his books, seminars and newsletters.
We hope you decide to join us in our forum to make your contributions
as well.
You can follow this link to our forum now!
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:
For information about Joe Ross and Trading Educators, please follow this link...
This email was sent to you by Trading Educators. Help ensure that your Spread Scan email newsletters are always delivered to your inbox (rather than to bulk or junk folders).
Log in to your email account now and add
info@spread-trading.com to your address book, contacts or “Safe Senders” list. Follow this link to get detailed help on how to add this newsletter to your safe senders list, depending on your e-mail service provider.
To change your subscription or to unsubscribe, scroll past the end of this newsletter and click the "unsubscribe" link.
Copyright 2010. Published by Trading Educators, Inc.
Spread Scan is a complimentary educational letter.
The information contained in this educational letter has been carefully gathered from sources believed to be reliable, but accuracy cannot be guaranteed. Readers should not assume that anything written here is to be considered as a recommendation, or that any performances shown will equal performances of the past.
This educational letter is intended solely for purposes of information and does not purport to provide legal, tax, or individual investment or business advice.
Readers should consult with expert legal, tax, business, and financial counsel before considering any action on the information contained in this newsletter. The publisher and its associates, editors or employees may have taken positions in and may from time to time make purchases or sales within markets and market vehicles mentioned herein. Reproductions of this newsletter are prohibited except by permission.
Joe Ross & Trading Educators, Inc. own all rights, title and interest to this publication. No part of this publication may be reproduced, in whole or in part, or by any means, mechanical or electronic, without permission in writing from the Publisher. You have no rights to resell, reprint, reproduce, or digitize Joe's Spread Scan Newsletter. While all attempts have been made to verify information provided in this publication, neither the author nor the Publisher assumes any responsibility for errors, omissions, or contrary interpretation of the subject matter herein.
This publication is not intended for use as a source of any advice such as legal, medical, or accounting. The Publisher wants to stress that the information contained herein may be subject to varying international, federal, state and/or local laws or regulations. The purchaser or reader of this publication assumes responsibility for the use of these materials and information. Adherence to all applicable laws and regulations, including international, federal, state and local, governing professional licensing, business practices, advertising and all other aspects of doing business in the U.S., Canada, or any other jurisdiction is the sole responsibility of the purchaser or reader. Neither the author nor the Publisher assumes any responsibility or liability whatsoever on the behalf of any reader of these materials.
LET JOE ROSS OPEN YOUR EYES TO GUIDE YOU INTO SUCCEEDING AS A TRADER IN TODAY'S MARKETS
It has always amazed us that normally astute professional individuals and business people will embark on a course as serious as trading — without seeking professional help.
Thousands who enter the field of trading try to figure it out for themselves, and they end up losing far more money through trading from ignorance than they would have spent for our training. People spend thousands of hours and dollars in a vain attempt to go it on their own.
No one is beyond the need for professional help when it comes to futures trading. Even professional traders come to Joe for help and additional training. Here is what Joe's Private Tutoring students say about the training:
"Fantastic knowledge! Joe showed me simple, easy ways to understand and trade the market. l learned how it works and how to take advantage of it. Now when I look at the chart I can actually understand what l see. Sometimes simplicity is hardest thing to achieve. Joe certainly did it. Make a good investment and learn from the master. For me it was worth every penny." -- Bogdan Podkulski - USA / NJ
"I was having trouble hesitating on my entry into a new position. I knew I needed some help as I was adding more and more indicators to persuade my thought process I was making the correct decision. The more indicators I added the more hesitation I experienced. My trading methodology was somewhat similar to the Ross Hook method. After working with Joe for less than 1 hour I saw how all these indicators had just caused more confusion. I got rid of the indicators and followed the methods I learned from Joe and my hesitation is gone. I now use the Joe Ross trading methods. My first trade using my new methods returned 10% of the capital risked in less than a day. I took the profit and never looked back."
--
Jim A., USA
"Thank you Joe. This was a life changing experience for me in a lot of ways. I've been trading a long time but was stuck and gradually bleeding to death. You've turned that around for me. As well as being able to trade your stuff I'm able to apply it to what I do and it makes all the difference in the world. You're the first teacher in a long career as a trader who has been worth every penny. I'd recommend you to anyone who wants help, from a new trader to any experience level. Plus, the sheer entertainment value of being with you is worth the price of admission. I value your friendship and am very greatful for your help with my trading and my life."
-- Bob Rose, USA / FL
"My trading has improved dramatically since I had my private training with Joe. All aspects necessary to become a successful trader were covered in detail: entry techniques, trade management, and money management. Joe has shown me how to take high probability trades with limited risk, which has made my trading much more profitable and enjoyable." -- William Hove, WI, U.S.A.
Reserve your training session fast! Joe's teaching time is limited!
Don't hesitate too long if you want to be taught by a professional and successful long-time trader. Joe reserves only a certain number of days each month for personal teaching time, and the openings on his calendar for private teaching are booked fast, so you need to plan well in advance.
Follow this link to visit Joe's website at Trading Educators to find out more about the private tutoring and to schedule your own training with him, in person or online.
The truth is simple: the charts of the markets follow a law. Professional Trader Joe Ross calls that law:
The Law of Charts™
Joe's trading students have told him that once they understood the markets, all they ever needed to trade them profitably is an understanding of the Law of Charts™ along with the dynamics of the market.
This Online Video gives you a presentation of the Law of Charts formations, followed by a very detailed explanation of how to use the Law of Charts to make profits in the markets.
We know you and your trading will benefit greatly from Joe Ross' The Law of Charts.
Take
“The
Law of Charts Online Video Seminar. The Seminar takes you deeper,
and explores the astonishing reality of the Law of Charts in the markets.
The Video Seminar brings you the pure simplicity of what the markets
are all about. Trading does not have to be complicated.
Everything you need to know to make money in the markets is right there
before you when you look at a price chart.
Follow this link for more detailed information about this
online video seminar.
AVAILABLE ONLINE!
You can learn from Joe Ross from anywhere in the world - his in-depth online seminar The Law of Charts allows you to participate at your convenience, dressed however you want to, with no traveling involved.
TO SUCCEED IN THIS CURRENT ECONOMIC ENVIRONMENT,
YOU NEED TO KNOW WHAT’S GOING ON
World Market News is a digest of global news reports that we feel are vitally important to your trading and investing.
Because we live in a global economy, we need to know what’s happening around the world. What happens in China affects what happens in Europe and all the Americas. World Market News brings you vital information about currencies, precious metals, energy, agriculture, and interest rates from every corner of the Earth.
THERE’S SO MUCH WORLD NEWS THAT NO ONE PERSON
CAN READ IT ALL
Find out more about World Market News. SIGN UP today to receive valuable information on just about anything that concerns you as a trader or investor.
REMEMBER -
THIS NEWSLETTER IS FREE!
Find out more about World Market News. SIGN UP today to receive valuable information on just about anything that concerns you as a
trader or investor.
FOREX AT THE MARKET TRADES
Grow Your Capital through Trading Currencies
Everyone knows that currency trading can be a great way to protect and grow your capital if you know which currency to be in, and when to be in it – and that is what Forex at the Market (Forex ATM) is all about.
Forex at the Market is a trading advisory for traders who have gone through enough forex scams to know that it’s impossible to consistently make 100% or more in their account each week and each month. Forex ATM is for traders who seek consistent profits, but who no longer feel they have to trade every day or trade all day long.
If you want to trade when the market is right for profitability, then Forex ATM
is for you.
If you have a job during the day, you can still benefit from
Forex at the Market.
In Forex ATM you will find premium,
class-A trades only — the ones that
make you money.
Forex ATM is exciting because the trades offered can be taken no matter the size of your account, since you are able to nicely scale the size of your trades with most Forex brokers. Therefore, the method is good for traders with any size account!
VISIT OUR SITE
WWW.FX-ATM.COM
TO FIND OUT MORE ABOUT "FOREX AT THE MARKET"
Spread Scan with Commentary |
1509 Jackson Drive |
Office hours are Monday - Friday, 9 A.M. to 5 P.M., U.S. Central Time |
Disclaimer: |
