Edition 336 Wednesday, February 2, 2011
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Edition 336 Wednesday, February 2, 2011 |
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Commentary by Andy Jordan
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Be sure to read through our free powerpoint spread presentation which describes the rationale for trading spreads, and gives you quite a bit of information about what they are and their advantages. Follow this link to our Spread Trading Website to read through Joe Ross' free powerpoint presentation: Spread Trading - A Whole New Way to Trade. Weekly Spread Scan ExampleThis week we look at CK1 - WK1: long May 2011 Corn and short May 2011 Wheat Today we consider an inter-market spread in the grains: long May 2011 Corn and short May 2011 Wheat (CK1 - WK1). After falling way down in August, the spread recovered from its low during the following months and is now trading sideways in a range between -150 and -220. The seasonal up-move between 02/11 and 04/09 is usually very reliable (statistics show 13 winning years out of 15), but with a daily draw down of over $1,000 during several of those years. Even though the spread is now trading at the lower side of its range, I personally would want to see some strength before I would think about an entry. An upcoming 1-2-3 low could be used as an entry signal, with a close stop. |
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On January 23 we told subscribers of our professional daily spreads & position/swing trading newsletter Traders Notebook, "Consider buying the March Swiss Franc at 1.0455 stop market; suggested stop at 1.0385; suggested first target at 1.0525; suggested second target at 1.0630. Basis is a TTE in front of a RH. No entry on a gap opening!"
Here's how we suggested managing this trade:
01/24 Long at 1.0455; trade hit suggested first target; suggested stop now at b/e.
01/25 Filled with the second lot at 1.0605 (e-mail); suggest keeping the stop for the last lot at b/e.
Visit our Spread Website for more information about our daily newsletter, Traders Notebook.
Be sure to read through our free powerpoint spread presentation which describes the rationale for trading spreads, and gives you quite a bit of information about what they are and their advantages. Follow this link to our Spread Trading Website to read through Joe Ross' free powerpoint presentation: Spread Trading - A Whole New Way to Trade.
© 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
Rationalizing
One of the most important things to monitor in this life is how we ourselves behave, not only when we are acting on our own, but when we are part of the crowd. And what most of us don't realize is how few of our important daily actions are thought out in advance.
We are all attempting to survive in what is basically a hostile environment. Many of our actions are in response to some sort of stimulus, whether someone else’s words, or actions, or something physical like our computer going down in the midst of a trade.
It may be painful to admit, but in much of human behavior we act first and then later rationalize what we did. While we all try to be logical, in most instances the rationalization comes after the fact, if it comes at all, and in general it is not at all close to explaining why we acted in the way we did.
It is tough to be honest with ourselves, but honesty with self holds the secret to success. This is nowhere more true than in trading.
© 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
The free Chart Scan weekly newsletter is designed to assist you in becoming a better trader by showing you, in the context of the markets, how to apply the Law of Charts™ in today's markets. In this newsletter you will see applications to a variety of markets, including forex, futures, and stocks. Accompanying each week's chart is a valuable trading article by Joe. These gems of wisdom have helped many traders become more successful. Follow this link to sign up today! |
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In this interactive webinar, Jim will guide and YOU will identify all the Law of Charts formations. It is designed for you to learn to be able to instantly spot 123s, ledges, congestion, and Ross Hooks. The methodology is modeled after mathematic's flash cards. |
Charts will be presented from which you will identify the various Law of Charts formations, strengthening your ability to quickly recognize what you are seeing. We take only 4 participants for each Law of Charts Flash Card online class. The classes fill fast. To ensure a Flash Card session for yourself, please follow this link and sign up now to lock in your reservation for the next available classes. |
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THERE ARE IMPORTANT DEVELOPMENTS
TAKING PLACE IN THE MARKETS!
We want our Spread Scan subscribers to know the importance of Joe's upcoming 2-day Day Trading Online Seminar, April 2-3, 2011. Follow this link to our website to register NOW!
Major changes are taking place in the markets! Joe says, "Anyone who is not current on what's going on needs to be re-trained in how to trade in today's markets."
Instead of the cost and hassle of your having to travel to this seminar, Joe Ross will be giving the material online, live, using the facilities available to us via the Internet. There will be 2-way communication, so you can ask your specific questions at appropriate times.
Joe is truly looking forward to meeting with you on April 2-3, 2011. We know you won't want to miss what he will be showing you in April. We call the seminar "Day Trading." No matter which markets you trade, and no matter which time frames you use, what you learn at the seminar will apply to stocks, futures, or forex. One of our top students, now a successful professional trader, uses what he learned at the seminar to trade options.
Don't miss out! Follow this link to find out more, and register today. If you previously attended the seminar, or if you had private tutoring with Joe Ross, you may need a refresher to be aware of current changes in the markets. Please e-mail us at seminar@tradingeducators.com for special arrangements.
"The seminar was a real eye opener. Techniques shown can be put immediately to use. No BS approach." -- John Gaspar, Canada
"As usual, Joe's teachings are great. He teaches without all of the indicators which tend to only confuse the issue. Just use what you see on the charts. If you can do just that you will be many dollars ahead. I know this is hard to do but trust me, it works."
-- Richard Frech, USA (TX)
"In short, profitable information and profound wisdom imparted with great humor. I especially liked the five set ups and the use of the ATR to determine where to place the stop, what your objective should be, which markets to trade, etc. If I can effectively implement what Joe presented I should become a consistently profitable trader." -- Thomas Cline, USA
"This was by far the best and most informative trading seminar I have ever taken. I never understood the reasoning behind what motivates the bigger traders in the market and how we are affected until now. It also taught me proper trade and money management which I was never exposed to in the past. Now I know why making money in the markets was so difficult but now I know I am fully equipped to approach the markets correctly. Well done. Thank you so very much Joe."
-- Joseph R., USA
DAY TRADING SEMINAR FOR E-MINI S&P, FOREX, AND STOCKS
WITH MASTER TRADER
JOE ROSS
April 2-3, 2011
Learn from Master Trader Joe Ross — we know this online seminar will forever change your understanding of the markets, and be a life-changing experience for you.
If you wish to review Spread Scans from the past 3 months,
please follow any of the following links to its weekly issue:
November 2010 |
December 2010 |
January 2011 |
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NEXT LIVE CHAT SESSIONS WITH JOE ROSS:
Wednesday, February 2, 2011
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, February, 20101
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.
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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...
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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.
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Only 5 days left to receive a $500 discount if you register and pay your deposit before February 6, 2011. And there's an additional $100 off if you pay the full amount up front.
DAY TRADING SEMINAR FOR
E-MINI S&P, FOREX, AND STOCKS, LIVE ONLINE,
WITH MASTER TRADER
JOE ROSS
APRIL 2-3, 2011
Joe will give you the information you need to help you succeed beyond your wildest dreams. Joe shares with you the ultimate achievement: "What you learn at this trading seminar will enable you to not only day trade any market in any time frame, but also to position trade, swing trade, intermediate-term trade, or long-term trade any market, any time, anywhere in the world, as long as you have a source of data and a way to place orders.
Learn from Master Trader Joe Ross — we know this online seminar will forever change your understanding of the markets, and will be a life-changing experience for you.
Only 5 days left to receive a $500 discount if you register and pay your deposit before February 6, 2011. And there's an additional $100 off if you pay the full amount up front.
FUTURES TRADING COURSE: "FROM THE BEGINNING"
An essential ingredient for a profitable trading life! Joe's Futures Beginners E-book Course - instant online download! Find your way through the vast labyrinth of Trading Knowledge - get the essential facts.
Whether you've been trading for years or are just a beginner, there is much basic detailed information about this business that most traders do not know, and are unaware that they need to know.
The course gives you facts you need for making important decisions. Click here to learn more about it on our website.
Real trades - real money. Get detailed trading instructions - every day!
SIGN UP for our Daily Spread & Position Trading Advisory Newsletter:
Traders Notebook™
Good Trade Management & Trade Consistency
More Spread & Position Trade Opportunities - too good to pass up
Traders Notebook™ is the premier daily spread and position trading newsletter, the only one of its kind, available to you as our loyal Chart Scan Subscriber. Choose your subscription term online to try it out!
Traders Notebook™ is definitely for YOU if you are:
> a Position Trader
> a Long-term Trader
> a beginning Spread Trader, just starting out in learning to trade spreads
> an experienced Spread Trader who wants to take advantage of all the features and benefits that Traders Notebook™ offers daily, such as directing you to spreads you might want to trade
Traders Notebook™ lets you in on high-probability futures position trades. These trades are hand-picked by Andy Jordan and Joe Ross. They are very carefully chosen for optimum results.
Traders Notebook™ also directs you to all the spreads you might want to trade. Subscribers have daily access to online help and advice. Spreads are chosen by Andy Jordan, our Trading Educators' professional spread trader. We believe Andy is one of the best spread traders in the world!
Follow this link for more details, and sign up for our PREMIER Spread & Position Trading Advisory Newsletter to increase YOUR success and make YOUR trading a more rewarding experience.
"Traders Notebook is a great starting place to learn how to trade real spreads. You learn a lot from just watching the trades selected, basis of selection, and most importantly the management of these trades. Thereafter you can select and trade the spreads that you feel comfortable with! The trading tidbits also provides one with a wholesome approach to trading. Thanks Andy Jordan, for all the good work."
-- Alpha A., Tanzania
"For myself, Andy Jordan is doing a great job! I got (and still get) much more experience in a shorter time frame."
-- Roland H., Germany
Trading Spreads and Seasonals — Discover one of the best kept trading secrets
Spread Trading is like "insider trading." Why? Because that's what traders in-the-know do! It is a different kind of "insider trading" — trading based on the knowledge, experience, and expertise of successful traders who know the inside story of how markets work. Spread Trading completely eliminates stop running. Do you think the insiders want you to know that? What would they do if they didn't have your stops to run? Follow this link to find out more about Trading Spreads and Seasonals.
THE MOST COMPLETE SPREAD TRADING PROGRAM
No one else offers as complete a spread trading program as you find at Trading Educators. We are #1 in educating successful Spread Traders, and we have the most original and best resources available to you — resources, service, and professional help you won't find anywhere else from anyone else.
Trading Educators' staff look forward to assisting you in becoming a successful spread trader, and we wish you all the best that life and trading have to offer.
Get started in Spread Trading by learning simple and effective trading techniques and tactics.
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