Edition 357 Wednesday, June 29, 2011
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Edition 357 Wednesday, June 29, 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 read through Joe Ross' free powerpoint presentation: Spread Trading - A Whole New Way to Trade. Weekly Spread Scan ExampleThis week we look at EUU1 - JYU1: long September 2011 Euro FX and short September 2011 Japanese Yen Today we again consider an inter-market spread in the currencies: long September 2011 Euro FX and short September 2011 Japanese Yen (EUU1 - JYU1). After trading mainly sideways in a range between 8.00 and 17.00 from May 2010 through February 2011, the spread broke out to the upside in March. In May the spread fell once again and has been testing the upper side of the range (17.00) several times since then. As long as this level holds, seasonality might help to move the spread higher during the month of July. The volatility in the currency markets is very high at the moment, and therefore I would categorize this spread as “high risk”. Traders with smaller accounts might want to use the ETF spread FXE-FXY instead. |
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On June 12 we told subscribers of our professional daily spreads & position/swing trading newsletter, Traders Notebook, "Consider entering a Natural Gas calendar spread: long December and short September Natural Gas on a close above 0.321. Suggested risk is $500; initial projected objective is $500, then higher. Basis is seasonal and a 1-2-3 low."
Here's how we suggested managing this trade:
06/13 In at approx. 0.322; suggested stop on close at 0.300; suggested first target at 0.362.
06/16 Cashing in the first lot at 0.362 was possible; suggested stop on close at b/e.
06/21 Suggested stop on close at 0.340.
06/23 Suggested stop on close at 0.350.
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 read through Joe Ross' free powerpoint presentation: Spread Trading - A Whole New Way to Trade.
Learning from Losses
Winners learn more from losses than from profits. When a profit is taken, there may be little room for improvement. When a loss is taken, a trader's self-discipline is the first thing to be examined. The second aspect of a loss is how did the actual price action cause the loss? Was there a trend reversal; an unexpected gap? Most beginning traders sustain losses due to emotional reactions. Traders should ask these questions: How could I have improved the trading results on this trade? What did I do right? What did I do wrong? What were the technical reasons for entering and exiting this trade? Lessons learned from a loss are the price of knowledge gained. It is for purposes of learning that a trader must learn to plan. Comparing actual actions and results with a trading plan will highlight where (or if) the trader went wrong.
© 2011 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
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SOCIAL NETWORKING WITH ANDY JORDAN
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Joe Ross' trading books are actually full-blown courses for traders. Each of them is designed to deal with a different aspect of trading, such as futures intraday and position trading, spreads, seasonal trading, options trading, etc. The books teach you how to trade the reality of the markets. You look right over Joe's shoulder at real trades made in real markets. You learn his reasoning for entering and exiting his trades. Please follow this link to learn more about Joe Ross' trading books. |
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 for Chart Scan today! |
If you wish to review Spread Scans from the past 3 months,
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April 2011 |
May 2011 |
June 2011 |
NEXT LIVE CHAT SESSIONS:
Wednesday, June 29, 2011
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hope you will join us!
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You can also view our saved weekly Chat Logs in case
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NEXT EURO CHAT SESSION:
Wednesday, June 29, 2011
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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 trading 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 2011. 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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Spread Trading is like "insider trading." Why? Because that's what traders in-the-know do! It is a different kind of "insider trading" — it's 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? Find out and get your own Trading Speads and Seasonals book by Joe Ross.
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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.
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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 this Futures Trading Course
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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!
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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!
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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.
The Life Index and the Equity Evaluator - two important tools for Traders
Many of you know about the Life Index™ from Joe Ross' bestselling book "Trading Is a Business." He uses the Life Index™ to chart his trading life, and it really changes his life for the better. Any and all aspects of his life that impact his trading can be charted. You can do it, too!
The Life Index for Traders (LIFT) enables you to immediately be able to start charting in a pre-programmed Excel spreadsheet, to create YOUR own life index. It's fantastic!
Order the Life Index for Traders during our Independence Day Savings event at 10% OFF! Discount will be applied during checkout. Offer valid only from June 29 through July 4, 2011.
The Life Index™ is a simple concept that, when applied diligently, guides you into becoming a more successful trader, as well as a more successful person. Joe Ross invented it many years ago to help himself build the right kind of character and to develop the right mindset for trading.
The "Life Index for Traders™" simplifies the process of tracking, charting, and evaluating your life, saving you valuable time. Plus we give you another important trade management tool, also in a pre-programmed spreadsheet, as a special Bonus: Joe Ross' Equity Evaluator™. These are Joe's two favorite management tools, and he credits these two tools with his ability to master self-discipline as a trader. Joe really wants you to have them both – please follow this link to learn more about the Life Index for Traders™ and Equity Evaluator™
Order the Life Index for Traders during our Independence Day Savings event at 10% OFF! Discount will be applied during checkout. Offer valid only from June 29 through July 4, 2011.
TRADING SEMINARS SCHEDULE
Day Trading Seminar for E-mini S&P, Forex, and Stocks - ONLINE LIVE SEMINAR - October 8-9, 2011 - seminar is presented live by Joe Ross
The Law of Charts Flash Cards - 2-HOUR LIVE ONLINE CLASS WITH JIM AUGUSTINE. To reserve a session for yourself and lock in your reservation for the next available class (limited to only 4 students per class), please follow this link to sign up now for the Law of Charts Flash Card online class.
Trading the Traders' Trick Entry - ONLINE CLASS LIVE WITH JIM AUGUSTINE (limited to only 4 students per class). Follow this link to reserve your "Traders Trick Entry" online class NOW!
Day Trading Seminar - Trade Along with Joe - in Bologna, Italy - October 16-17, 2011
presented by Joe Ross and Francesco Fabi
Futures Spread Trading Seminar in Bologna, Italy ─ October 14-15, 2011
presented by Joe Ross and Francesco Fabi
Private One-on-One Tutoring with Joe Ross: This is YOUR private training as a trader — Joe builds the course around YOU and YOUR needs. All sessions last as many days as your wants and needs dictate (most are for three days), and are taught near Austin, Texas, U.S.A. with Joe Ross in person ─ OR, if you prefer, Joe can train you online via the Internet. Follow this link to Joe's Private Tutoring for more details.
SEMINARS YOU CAN DOWNLOAD:
From Joe's incredible depth of wisdom and knowledge, he shares with you his innermost secrets for consistent and profitable trading; consistency and profitability are the hallmark of the world’s most successful traders. These are Joe Ross' online courses currently available:
The Law of Charts Online Video Seminar with Joe Ross
Futures Spread Trading Online Video Seminar with Joe Ross
Options Trading Online Video Seminar for beginning and intermediate Option Traders with Joe Ross
Options Strategies Trading Online Video Seminar with Options Pro Alan Parry
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