Two Trades - A Win and A Loss

Have a great weekend, everybody!

Nice N Easy

Wasn't that fun!  I was in an out of this trade in just three seconds.  I could have gone for more points, but I was being conservative and enjoyed making over $230 net (after commissions) in three seconds.

I hope you are all doing well!

See you back here for tomorrow's trades!

Kevin

Traded Crude - Paper

Two Breakevens In One Day

Actually on this one, I lost a tic (0.25) on three of my four contracts because of how I got in to the trade.

And this one I got slipped on entry 0.75 points and so I ended up managing my way out at breakeven (minus commissions).

Looking forward to a good trade tomorrow.  But for now, I'm off to accompany my 2nd grader on her field trip today!  Yay!  A school bus load of screaming 2nd graders!  :)

K

No Win - No Loss

Today I set up a specific order that was designed to limit the slippage of price so that, in the event of FAST movement, I would not get filled unless it was at the price I designated.

As a result of the news I was trading, price moved right past me and didn't get me in to a trade.

But, as we've learned before, it's much better to have price move past you and not get into a trade, only to have it turn and go against you after you "finally" got in.  Even though I'm sad that I didn't get in, at least I didn't lose either.

There was a beautiful second trade opportunity just a few minutes later that missed me by one tic.

Oh well.

Today I used a tool that was designed by Market Mover Trading that helps to execute trades with precision.  It worked beautifully and would have been "money" had the trade not slipped past me.  Thanks MMT for providing a functional, easy to use tool that works like a charm!

Now on to a FULL day of "work".

Have a great day.

Easy Breezy Beautiful

This trade was a little perplexing at first.  With the market moving up and then down and then back up...

But, I got in to a trade quickly and out just 5 seconds later. 

No better way to make a couple hundred bucks before breakfast!

Have a great day.

Don't Be Too Disappointed In Me!

I know, I know.  I should have easily won, right?  Well, actually I did win.  I was set up perfectly, made my first trade and won in 4 seconds!  Wow! 

Then I made a dumb "extra" trade and it just kept on going down.  It hit my stop loss on my second trade before I knew it, so instead of being up, I was down!!!  AARGH!

Then I made a third trade which got me back up to breakeven.  The -$51.60 was my commissions on the three trades.  :(

Oh well.  It actually was pretty fun to see the market move like that.   Take a close look at the thin green lines.  Those are called "Prediction Lines" that we get from MMT about 30 minutes before the trade.  Look how price bounced (relatively) off the 1086.50 line and went up from there.  Instead of thinking I was "all that" and made that losing trade, I should have waited for price to hit that line and then played off that line. 

Live and learn. 

Have a great day.

P.S.  I have another trade opportunity today, but I won't be trading it because of a prior "engagement" if you will, so I'm done trading for the week!

When In Doubt - Stay Out

I guess in reality, I wasn't really "in doubt".  I simply didn't place my orders in the right places to get filled the way I should have.  So I didn't get in to the trade.

But I thought that that should also be one of my rules - "When in doubt, stay out."  If you cannot see a clear-cut trade, don't jump in hoping for a win.  Now, this may not apply to new traders.  In fact, it absolutely doesn't apply there.  But, if you have learned the strategies, and you are playing with real money - and you are unsure of either the market or yourself, you should simply stay out.

I hope that helps.  I've gotta run.

K

Quick, Little Win

The market moves right when I know it will.  As a result, I'm ready to get in an dmake some profits.  I hit my profit target in just under a minute or two, and I'm done trading for the day.

That is what I've learned from Market Mover Trading.

Hope you are all doing well.

(P.S. If you didn't read my post from yesterday, I strongly suggest it.)

Dumb Mistake - Secrets to Success

Today I simply made a very dumb mistake that lead to my demise on my trade for today.  Instead of placing a buy order, I placed a sell order and got in to the trade in the wrong direction.  Oh well.  I think I have learned my lesson.  At least I had my stop loss in place, which kept me from losing much more.

I meet with people over and over again regarding Market Mover Trading.  In each meeting we discuss the likelihood of success using the MMT program (information and eduation they provide).  Without fail, every time the question arises about the propensity to lose a lot of money if the trades go wrong.  Without hesitation I recommend these particular anticdotes:

1.  Prepare.  You will never be successful if you do not practice and prepare for your trades.  Simulation accounts are so very important.  They allow you to play along with the market in real time, and place and win or lose trades without putting your hard earned money at risk.  You should also prepare by watching the Trade Recaps, Instructional Videos, and Live Trade Videos.  You should also be attending Live or Archived Class every week.  Without this preparation, you will undoubtedly find yourself making blunders and mistakes that will lead to your demise.

2.  Set Goals.  Determine what it is that you want to do with your new love for trading.  Is it recreational?  Is it the opportunity to earn much-needed cash?  Is it simply a way to expand your knowledge?  What are the primary and secondary goals that would would like to attain?  What are you shooting for?  Remember, setting goals includes WRITING THEM DOWN!  A goal is not set until pen meets paper and the objective is spelled out in writing.  Otherwise it is simply a wish.  And, as the saying goes, "If wishes were fishes, we'd all cast nets."

3.  Rules.  Making, notating, and keeping rules is a very essential part of trading.  If you are rules oriented, which means you have made rules and imported them into the way that you trade, then you will be more likely to be successful in your trading adventures.  Rules help us avoid danger.  Consider driving without rules.  The results would be catastrophic.  However, even with "rules" people still get in accidents.  Bad things can happen.  However, if we do follow the rules, we are more likely to be kept safe.  Here is a quick example of some of my rules:

1. Never trade outside the scope of MMT
2. Trade only MCM trades
3. Cancel orders if they are not filled within one minute
4. Never trade after 8-10 minutes
5. Never trade more than 25-33% of my trading account balance
6. Never cancel my stop loss
7. Don't get greedy and extend my profit target
8. Never chase after a trade

The list goes on and on.  These rules help me be a MUCH more effective trader.

4.  Be Conservative.  I have several "favorite" sayings that go along with being conservative.  Many of you have probalby heard me say these before:

• Hogs get slaughtered. 
• Don't ever make the market work harder than it's going to work. 
• The market doesn't care about you.  What you want doesn't matter.
• If you want more money out, put more money in.

5.  Discipline.  Exercising discipline in all things - not just trading - can be a complex, yet extremely valuable tool in the toolbelt of life.  Discipline creates men out of boys and success out of mediocrity. 

Discipline is the "capstone" of all the items above.  It is the one thing that takes preparation, goals, rules, and being conservative, and puts it to the task.  As you grow and develop as a trader, understanding and exercising discipline will be the hallmark to your success.

I hope this post today wasn't too preachy.  I hope it helps someone.  I has already helped me! 

All the best to you today!

Kevin

One Trade - One Fantastic Win!

Sorry I posted this so late!  :)

Breakeven - Sort Of

Thursday, May 13, 2010

Hello everyone!

Today's trade was shaping up to be a nice one, yet I missed my profit target by ONE TICK!

Oh well.  All I ended up losing was my commissions. 

Just when I broke even on my trade, I received a "Unexpected Error" message and my whole computer shut down and restarted.  I have no idea why.  I wasn't in an active trade, so I wasn't too concerned.  It just kept me from being able to place any more follow-up trades.

A quick shout out to my good friend Jared Hedberg who traded live today for the first time and won!  Congrats Jared!

I will be in Logan, Utah (12:00 Noon) and Idaho Falls (7:00 PM) today introducing MMT to the masses.  Hope to see you there!

Kevin

Wednesday, May 12, 2010

Today's trade was one I could have just slept through.  However I decided to get up and try out another strategy that I have been working on lately.  What do you know, IT WORKED!  That's two days in a row, and I am thrilled.

Sure, it's not a million dollars.  I know.  but it was a win and money in my pocket that I wouldn't have had otherwise.  So for that I am happy.

You know, yesterday I was slammed meeting with people and sharing MMT as well as doing some training to some friends and neighbors.  It was a great day - full of success - but at 11:30, when I finally hit the hay, I was exhausted. 

MMT has become a real blessing in my life!  I love meeting with people in so many random places and sharing what I have found for myself.  Lucky for me this opportunity found me (thanks Jason Anderson!).  I now enjoy a freedom that I have not known before.  I love associating myself with all of you as well.

Tomorrow we have one early trade and then I am off to Logan to meet and train, and then to Idaho Falls tomorrow night!  Hope to see you all there!

Have a great day.

Oops! Yesterday's Trade

This trade happened on Tuesday, May 11th.  I was busy with a million things yesterday, and didn't get around to posting this trade.  Sorry guys.  :)

I was in and out of my trade in just 25 seconds and won (after commissions) $365.60.  Not bad for a low impact trade.

Hope you're all doing well.

K

Crazy Trading Day

May 7, 2010

What an absolutely crazy trading week this has been.  Yesterday's market movement was unprecidented and absolutely unbelievable!  A once (or twice) in a lifetime event.

Today I had a great trade opportunity shaping up, but then the news came across that Germany had approved funding for Greece, and the markets swung up - further confusing my trade and causing me some angst.  So I simply didn't get in to a trade.  It was too difficult to understand.

And that's where things stand for today.  No trade.  Which means no loss.  But it also means no win.  Darn!

I met with a bunch of prospective traders last night up in Logan Utah.  It was fun to meet with them.  It seems that the people who are attracted to MMT are getting smarter and are more committed than ever to finding a real, plausable investment opportunity that can impact their finances in such a positive way.

The meetings usually start out with a lot of people being very sceptical, and by the end they're all smiling and standing around chatting about the possiblities and the opportunity and shaking my hand and thanking me for being there.  It is so fun to see the light come on in their minds and then to see their reactions to it.

That's not to say that it is "easy street" from there on out.  There is definately a learning process to this.  Anything worthwhile will have a learning curve that you MUST work through.  I win a lot of my trade.  That said, I lose some too.  I share all this information with everyone so that it keeps me honest and shows you the truth.

I hope you all have a great spring weekend (hopefully the snow and frost will retreat and we can have a little warmth).

All the best!

Kevin

Teeny Tiny Win

I know, I know.  You're unimpressed.  However, the markets have been really interesting lately with the whole of Europe falling like dominoes. 

I was happy for a quick and easy win, but saw opportunities for much better trades, which I could have done.

 But regardless, I am done trading before 7:00 AM and now on with the rest of my day.

A Winner!

Sorry guys!  I totally forgot to post this trade earlier today. 

Here was my quick trade for today.  In and out in 75 seconds.

Headline: Home Sales Up! Market Down!

I can read the news headlines now.  While the economy struggles to recover and move in a positive direction, it waits for GREAT news, like Home Sales going up.  However, it appears that the market has other things on its "mind". 

Today, the market opened and dropped like a rock.  Then we had some economic news announcements that were amazingly good, and the market dropped again.  Go figure.

So, I lost today's trade.  But, I am determined to study a little more and get ready for another trading day tomorrow.

Have a great day!

Back from China!

I returned home from my 11 day trip to China and was anxious to get back in the swing of things this morining.  I made just one trade today and only got a half point, but was happy to get in and get trading again.

This trade was a pretty simple one, and not too complicated.  I'm convinced that any sane person can do this and do it well.  I hear so many success stories from people who never thought it would be possible for them to begin trading and taking control of their own financial destiny.  Now they are making thousands of dollars a month before they head off to work in the morning.  What a great way to add income and be successful! 

Hope you have a great spring day!

Kevin