Friday, June 27, 2008

Replay of ZB Trade on June 26 2008

Replay of my trade in ZB or Long Bond on Thursday June 26, 2008. The total trade per every 2 contracts traded made $687.50. I will be taking some time off from Saturday until after the July 4th weekend. I hope that you as well, have a Happy 4th week.

My personal trading tells me to trade very lightly, if at all during this week of the year. This is the half way point in the trading year, and for me it's a great time to take a break from trading and recharge my batteries. I hope that you decide to do the same.

Best to you and yours!

Good Trades,

David AKA Tiger

P.S. There will be no weekly update this week ... so this will serve as the last post until July 7th or 8th. June was a good month to trade. I look forward to trading after the break, but for now it's break time! See you after the half way point of the year!!

Friday Day Trading: Just My 2 Cents!!

You know that I have tried to bring back a lively discussion to this forum. I have shared my ideas and have tried to bring some fun to trading. I have tried to give a honest and clear way that I approach Day Trading. Never once have I asked for money or tried to promote anything on this forum. My blog is my own business, and if I want to share what I believe is the difference maker, then that Is my decision to make.

I suppose that you know you have arrived as a trader when you are called names. I have always given credit, where credit is due. I have spent my money on various methods to learn how to be a successful trader. I believe growing as a trader is a continual process and adventure. Any one that claims they are a MASTER TRADER, I would guard your wallet. Any one that shares his/her opinion, but will not back it up with actual trading, you should be wary, and your RED FLAG ALARM should be sounding off in your head.

Now, let me get this clear right now, I am not saying that my way is the only way to trade, but what I have found works for me and my trading.

In Markus Heitkoetter’s new book, The Complete Guide To Day Trading, he shares on page 227, “The Three Secrets to Day Trading Success.”

1. Secret 1: Trading In The Right Direction
2. Secret 2: Always Know When To Exit A Trade
3. Secret 3: Trade The Right Market

Now truly are these secrets new to the veteran trader? No, but to the NEWBIE trader, then this answer could be yes.

I believe becoming a trader or Day Trader for that matter is a journey. It can be long, medium, or very short, but it is an adventure nonetheless. The difference maker I believe is in your BELIEF SYSTEM or your confidence level in your trading method or system of trading.

On the previous page of Markus’s book page 226, he lays out what he believes is an important component to becoming a successful day trader or trader.

He says, and I quote …

“The “Law of Attraction” says that “you get what you think about.” Here’s how to avoid negative emotions and to have a positive attitude:

Write down 10 “I Am” statements. These statements should reflect who you WANT to be, not necessarily who you are now.

Here are some examples of “I Am” statements:
1. I am a disciplined trader who follows his trading plan.
2. I am cool and relaxed when I am trading.
3. I am in control of my emotions.
4. I am a profitable trader.

Read these “I Am” statements every morning before you start trading. Read them aloud and read them like you mean it. Do it for two weeks, and I promise, you WILL notice a difference.”

End quote.

There is a price to pay for sharing your ideas, not everyone will agree with you. I am fine with disagreement, but resorting to name calling to make a point is totally uncalled for, and in my humble opinion, very immature on the poster’s part.

With this being said, I too am human and try as much as I do, things do get under my skin at times. I have my own way of coping with them and then letting go. I try my best not to answer insult with insult, but I also remember I am just a human being, as well.

If it is the person’s intention to run me off, well I am not going unless the moderator of the PUBLIC FORUM says to leave, or I am not welcome. Only then, will I take my ball and go home. (TRADING METHODS)

I will continue to do my best to rise above any name calling on any poster’s part. If a person has some constructive criticism, then I am fine with that, but to insult and name call is simply wrong no matter who you are or think you are.

And that, Ladies and Gentleman is my two cents on this subject. Now back to trading!!

Good Trades,

David AKA Tiger

P.S. You can buy Markus Heitkoetter's book at, you can the link to it on the right side under book recommendations.

Thursday, June 26, 2008

Best ES & ZB Trade of the Week June 26 2008

Here is my second recording on Camstasia Studio. Today, being Thursday the DOW was down over 350 points today. I will briefly go over the ES market, and then talk about my ZB bond market trade today.

By the way, to stop the RockStar song go down to the end of the blog and press stop on the video.


David AKA Tiger

Thursday Day Trading: ES All Day Trade!

Click on Chart for comments on the ES trading opportunities.

Thursday Day Trading: ZB Long Trades

Today being Thursday there was a very nice trade in the bond market or the ZB. When I was watching the bond market pre-open, what I noticed was the non move in relation to the stock indices. The stock indices were down considerably before the bond market open, and the bonds had not adjusted to this move yet.

So basically, my thinking was to find a way to go long, if the chart showed me that it wanted to go long in the bonds. My first entry was at 8:35AM Eastern time. This trade only made breakeven plus a tic, as I was concerned about the 1st bar high early and a retracement. This turned out to be a wise decision, as without my protective stop trade management, then it would have went to my stop loss.

The second opportunity to get long in the bonds happened at 8:50AM Eastern time. This trade worked out beautifully. I took most of my position off at 114^15, and the last of my position a little below the Average Daily Range line (ADR) at 114^25. The first move was 12 tics or $187.50 per contract traded, and the ADR move was 32 tics or $500 per contract traded. I like to trade in multiples of at least 2 contracts in the bonds so this was per every 2 contracts traded in the bonds $687.50 per trade.

This was the best trade of the week, and I will feature it in my trading demonstration for the week. I will record this and talk a little more about this trade for your education.

Good Trades,

David AKA Tiger

Wednesday, June 25, 2008

Wednesday Day Trading: ES SR Trendfade Short

In my trading today, I did not trade until after the release of the FOMC RED Report at 2:15PM Eastern time. (Note this report was released 5 minutes early today.) My trade in the ES or emini S&P came at 2:30PM Eastern time, and reached target very quickly.

This is another exercise in patience and waiting until a direction has been established. I liked the trade off the bounce of the ADR (average daily volume.) This trade is what I considered a spike reversal trendfade opportunity.

The FED today left rates unchanged as was expected so the market even at the end of day showed no direction as this decision was expected. The opportunity to trade or in this case, day trade will come suddenly and quickly at times. By being prepared to enter a trade, and having a trading plan that accomodates sudden moves is the way to handle this situation. The key is to know exactly what and how you will approach your trade like today when the FOMC RED Report is released, that is if you want to trade off reports releases.

I like these trades as I prefer momentum trades ... that is a trade that will move quickly, hopefully in my direction.

Good Trades,

David AKA Tiger

Tuesday, June 24, 2008

Tuesday Day Trading: ZB Long Entry

Click chart for comments ... beware of trading today and tomorrow with the FOMC meeting the next two days. I will personally not be trading until after the release of the FOMC statement at 2:15PM on Wednesday now. My own personal trading I have found these days to be very tough to find any clear trend. Others may have a valid system of trading into this report, but for me this gives me an excuse to take a little time off from trading.

Best to you and yours ... I traded the 3rd green bar today at 8:50AM Eastern time. This trade eventually went on to target. My stop was hit at breakeven plus a tic today.

Good Trades,

David AKA Tiger

P.S. I will not be trading now until after the RED REPORT release of the FOMC Statement at 2:15PM Eastern time tomorrow now.

Monday, June 23, 2008

Garfield on the Oil Crisis

Garfield on the Oil Crisis

A lot of folks can't understand how we came to have an oil shortage here in our country. ~~~ Well, there's a very simple answer. ~~~

Nobody bothered to check the oil. ~~~

We just didn't know we were getting low. ~~~

The reason for that is purely geographical.~~~

Our OIL is located in :
~~~ California
~~~ Coastal Florida
~~~ Coastal Louisiana
~~~ Wyoming
~~~ Colorado
~~~ Kansas
~~~ Oklahoma
~~~ Pennsylvania and Texas

Our dipsticks are located in DC Any Questions?

NO?...Didn't think So.

Monday Day Trading: ZB Long Trade

Today being Monday, there was not much trading opportunities in the market. The one that did develop was in the bond market or ZB or the long bond, as some people refer to it. This trade came at 10:05AM Eastern time and went on to target.

This was a tougher trade to hold since it took 3 bars to make target. I brought my stop up to breakeven plus a tic on the second bar, and stayed in the trade barely. This trade fought it's way up to target.

What I liked about this trade was the following:
1. Rising Volume
2. Trend going up
3. Close above Friday's High
4. Plenty of room on the ADR. (average daily range)
5. Felt good (was a part of my trading plan.)

The above factors quickly played into my decision to make this trade, and it did end up in the winning column of today's trading. That's all for now.

Good Trades,

David AKA Tiger