Mohan 16/09/03
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Mohan 16/09/03
No Headline Call today due to FOMC Meeting.
Recap of Monday's Action:
Good Morning and thank you for joining us today.
We had another very low range day on Monday with a flat opening and no strong contrary signals with a higher opening. Our Headline Call was looking for prices to move lower on a higher opening and early run up.
The BreakDown was hit mid morning but there was not a Bear Ugly market situation and the trade was very quiet. As our Headline Call was looking for lower action and overall we had a bearish High Five it left the whole trade setup in limbo which simply means....stand aside.
It's better to save your money for a real strong trade idea. Soon we are expecting the market will get back to giving us some range and more volatility.
Speaking of which... Today is the FOMC interest rate announcement day by the Federal Reserve and as such we do not make Headline Calls or recommend TCF Trade setups on these days. The markets usually will move around a little in the early session and then just sit waiting for the announcements. Very often when the announcement occurs traders on both sides of the markets will get stopped out. Over the many years of watching the Fed meeting days, trading them, standing aside, having decent winners , and getting stopped out frequently I have decided they are better off left alone. Our TCF system is based on making strong trades with all the favorable elements of our system on our side.
The FOMC meeting days tend to thwart many good trading plans. Sure, if you get lucky and are on the right side of the market there can be a big move but usually before that occurs not only do you have to sit and sweat out the quiet market until the announcement occurs but you also have a very high probability of getting stopped out. Just not my idea of super cool trading. So we now just let these days pass and use the day for extra research projects into the S&P500.
Today's Call & Briefing:
No Headline Call and no Trade setup recommendations today as explained above.
Value Area: 1,012.50 - 1,016.10
Trade below 1016.00 is bearish for the market.
Buy Pivot Target: 1,010.25 - 1,011.25
No Trade at this pivot today as no Trade setups are recommended on the FOMC announcement days.
Sell Pivot Target: 1,016.50 - 1,015.50
No Trade at this pivot today. See above.
10 Day "Pit Bull" Moving Average: 1,021.20
We are trading solidly below the Pit Bull and this is bearish. We want to keep shorting rallies up to the Pit Bull. No trade recommendations are made for today but keep this overall idea in mind of selling rallies as long as we are below the Pit Bull.
Pro Trader's Action
We are still a bit stuck in these dead trading ranges and need to be patient as the ranges get ready to open up some. As mentioned above we will be sitting out today's trade using our TCF trading plan of avoiding these FOMC days.
The key to a successful trading system, especially in the S&P500 futures, is to NOT LOSE MONEY. It's great to make money in futures and many new traders have stars in their eyes when they see the potential in futures but the characteristics of a good system is that it KEEPS YOU OUT OF TROUBLE in addition to generating profits.
In this business there are so many shooting stars that show a month or two of great trades and then fizzle out never to return. Our TCF methods are long, time tested efficient setups that steadily produce quite incredible gains. As you become more and more accustomed to the idea of becoming a PROFESSIONAL trader you quickly start to see that having a precision system is the key.
Let's stand aside today and see how things setup for Wednesday's action. All of the best of success in trading and in your life. Mohan
Recap of Monday's Action:
Good Morning and thank you for joining us today.
We had another very low range day on Monday with a flat opening and no strong contrary signals with a higher opening. Our Headline Call was looking for prices to move lower on a higher opening and early run up.
The BreakDown was hit mid morning but there was not a Bear Ugly market situation and the trade was very quiet. As our Headline Call was looking for lower action and overall we had a bearish High Five it left the whole trade setup in limbo which simply means....stand aside.
It's better to save your money for a real strong trade idea. Soon we are expecting the market will get back to giving us some range and more volatility.
Speaking of which... Today is the FOMC interest rate announcement day by the Federal Reserve and as such we do not make Headline Calls or recommend TCF Trade setups on these days. The markets usually will move around a little in the early session and then just sit waiting for the announcements. Very often when the announcement occurs traders on both sides of the markets will get stopped out. Over the many years of watching the Fed meeting days, trading them, standing aside, having decent winners , and getting stopped out frequently I have decided they are better off left alone. Our TCF system is based on making strong trades with all the favorable elements of our system on our side.
The FOMC meeting days tend to thwart many good trading plans. Sure, if you get lucky and are on the right side of the market there can be a big move but usually before that occurs not only do you have to sit and sweat out the quiet market until the announcement occurs but you also have a very high probability of getting stopped out. Just not my idea of super cool trading. So we now just let these days pass and use the day for extra research projects into the S&P500.
Today's Call & Briefing:
No Headline Call and no Trade setup recommendations today as explained above.
Value Area: 1,012.50 - 1,016.10
Trade below 1016.00 is bearish for the market.
Buy Pivot Target: 1,010.25 - 1,011.25
No Trade at this pivot today as no Trade setups are recommended on the FOMC announcement days.
Sell Pivot Target: 1,016.50 - 1,015.50
No Trade at this pivot today. See above.
10 Day "Pit Bull" Moving Average: 1,021.20
We are trading solidly below the Pit Bull and this is bearish. We want to keep shorting rallies up to the Pit Bull. No trade recommendations are made for today but keep this overall idea in mind of selling rallies as long as we are below the Pit Bull.
Pro Trader's Action
We are still a bit stuck in these dead trading ranges and need to be patient as the ranges get ready to open up some. As mentioned above we will be sitting out today's trade using our TCF trading plan of avoiding these FOMC days.
The key to a successful trading system, especially in the S&P500 futures, is to NOT LOSE MONEY. It's great to make money in futures and many new traders have stars in their eyes when they see the potential in futures but the characteristics of a good system is that it KEEPS YOU OUT OF TROUBLE in addition to generating profits.
In this business there are so many shooting stars that show a month or two of great trades and then fizzle out never to return. Our TCF methods are long, time tested efficient setups that steadily produce quite incredible gains. As you become more and more accustomed to the idea of becoming a PROFESSIONAL trader you quickly start to see that having a precision system is the key.
Let's stand aside today and see how things setup for Wednesday's action. All of the best of success in trading and in your life. Mohan
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Abraço,
Dwer
There is a difference between knowing the path and walking the path
Dwer
There is a difference between knowing the path and walking the path
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- Registado: 4/11/2002 23:16
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