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Edition 517 Wednesday, July 23, 2014 |
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Previous TradesOn July 2 we sold 2 Russell 2002 mini contracts at 1201.0 during the live trading session in our Live Trading Room, with an initial risk of $100 per contract. We exited the first contract at 1200.0, and the second contract at 1198.9, for a total profit of $310 before commissions.
Trading ArticleWhat's my real reason for trading? "The Rorschach Test (also known as the Rorschach Inkblot Test, the Rorschach Technique, or simply the Inkblot Test) is a test in which a subject's perceptions of inkblots are recorded and then analyzed, using psychological interpretation, complex scientifically derived algorithms, or both. Some psychologists use this test to examine a person's personality characteristics and emotional functioning." (Copied from Wikipedia) Trading is a kind of a Rorschach Test, mirroring the personality of the trader's needs and desires. We need to ask ourselves "What is my real reason for trading?" because whatever our underlying motives are, they will show up in our trading. Pursuing these hidden goals will negatively affect our trading. Not realizing they exist may cause us to wonder why certain things keep happening over and over. Finding out the real motives behind why we want to trade will help us to understand why we do certain things, and will help us to become better traders. © 2014 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
Get the "Introduction to Spread Trading" companion video here. Dear Spread Scan Subscriber, View
last week's Spread Scan #516 A WEALTH OF INFORMATION & EDUCATION TRADING SEMINARS SCHEDULE
Attend the webinar on July 26, 2014
Attend Joe Ross' 3-hour online class on August 23, 2014
Attend the 2-Day webinar October 4-5, 2014
Attend the webinar on November 22, 2014 Private One-on-One Tutoring with Joe Ross Trading Success StoriesRead comments from a wide array of students and customers who found success through Joe Ross and Trading Educators.With thousands of satisfied students and customers in more than 25 countries, Joe Ross and Trading Educators have an unsurpassed track record of success in trading and in teaching. Joe has reams of letters and emails from his students thanking him and proclaiming his expertise. Joe has helped people at every level of experience in their trading.
Traders Forum - for Traders
with passion and a
desire for increasing knowledge
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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, & Options Trading — 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. 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 & options 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, where he currently lives. 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 ups and downs of the markets because of his adaptable trading style, using a low-risk approach that produces consistent profits.
Joe 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™." He 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 has written twelve major books, several E-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 more than 5 decades of trading and investing, Joe still tutors, teaches, writes, and trades regularly, and is an active and integral part of Trading Educators. He is the primary author and Editor-in-Chief of the company's newsletters: Chart Scan™, Spread Scan™, Traders Notebook™, and the moderator of his popular trading forum. Lately, Joe has been the chief trader for Money Masters International, where for the first time in his life he has been willing to trade money for others due to the safety and profitability of the Money Master strategies. Contact: info@mmaster.biz.
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:
To show aspiring traders the truth in trading by teaching them how to read a chart so that they can successfully trade what they see, and by revealing to them all of the insider knowledge they need in order to understand the markets.
To enable them to trade profitably by training them to properly manage their trades as well as their mindset and self-control.For information about Joe Ross and Trading Educators, please follow this link...
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Copyright 2014. 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.
You can increase your chances for trading success when you know and understand the business of trading.
The more you know, the better off you will be. You need to know the rules and the players; you need to know what can hurt you and what can help you.
For instance, so many traders seek to acquire confirmation from two or more indicators that are all measuring the same thing. You can chase your tail round and round like a dog with an itch, but you will gain nothing from your pursuit when all the indicators are duplicating each other. What I'm saying here is that many traders will use more than one momentum indicator, or more than one volatility indicator, to confirm not the price action, but to confirm a different indicator of the same type, measuring the same thing. But that's not the way to do it. The correct way is revealed in "From the Beginning."
There is more, much more, contained in the 21 lessons of "From the Beginning." We feel this is information every trader should know, but that all too many do not know. The course will give you the facts you need to make important decisions. Follow this link to find out more.
The Life Index and the Equity Evaluator — two important tools for Traders
Many of you learned about the Life Index™ from Joe's 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 or 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!
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™ and Joe Ross' Equity Evaluator™.
AMBUSH A
MARKET OF
YOUR CHOICE
Joe Ross and Trading Educators want you to know that through the Ambush Trading Method™, you can ambush any stock index futures, commodity futures, currency and interest rate futures, forex pairs, ETFs, or CFDs. If you would like to, you can ambush more than one market just about every day.
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
Discover one of the best kept trading secrets in the markets
“In trading, you’re not paid for analyzing charts. You’re not paid for calling in the order. What you are paid for is successfully managing the position while it’s on.” - M. Sass, Trader
In Trading Spreads and Seasonals, you will discover the trading secrets many full-time traders use on a daily basis to exploit the markets for their own financial gain, at the expense of the "little guys.”
Spread trading is quietly kept secret. Why? Because 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?
Spreads and seasonal trading are like "insider trading” because that's what traders in-the-know do! What I'm talking about 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, and how to get the best out of them. They've done exactly that - time and time again. Find out more about Trading Spreads and Seasonals
Spread Scan with Commentary Previous Trades Trading Article Trader's Live Chat About Andy Jordan |
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