Traders Helping Traders Big Weekend Edition
 

 E-zine for April Fool's Day, 2007 - Part One


 Traders Helping Traders


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Almost every Technical Analysis Pattern is Support and Resistance based...if you don't understand how to "see" a chart, you will continue to struggle!

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Shooting the Breeze!


It's going on three weeks since the move and believe it or not I still don't have my office set up. It's not that I'm not trying, it's just that I can't get everything the way I want it. Actually, to be more accurate, the problem I'm having is making everything fit! It's the traditional downsizing problem. We moved from a single family house to a townhouse. At the time the townhouse looked big enough, after all the square footage was the same as our house; however some things like organizing my office have posed a special challenge.

At least I'm not working off the floor anymore. I did manage to get my desk partially set up; however I'm sure I'll have to take it apart and reassemble it at least a couple more times before I'm satisfied with where it is. The good news is my office is nice and bright. I have a beautiful south facing view of a hiking trail that runs near by; however the view is currently obstructed somewhat by a pile of computer boxes I have crowding the window.

I'm quite anxious to get the office squared away however. We've got big plans coming in the next week or so and I want to get going with that. We should have the live day trading room up and running early this month. This week you'll also notice a new look on the nightly updates. I've had requests to make the information more broker friendly, so I've tried to incorporate that. Please let me know what you think – pros and cons – after all, I'm working for you.

Enjoy this week's issue,

Erich
erich@tradershelpingtraders.net
 

Softs


Softs Overview

To see the video clip covering this week's Softs trades, click the link below:
http://www.youtube.com/watch?v=FAVda5OiSoM

Coffee

SELL May Coffee at 107.70
Exit Order: 110.05
Approximate Risk Exposure: $881 per contract
Profit Target: 100.05
Approximate Potential Profit: $2868 per contract
RRR: 3 1/2:1
Degree of Risk: Moderate to HIGH

Coffee chart

Lumber

SELL May Lumber at 239.7
Exit Order: 243.7
Approximate Risk Exposure: $440 per contract
Profit Target: 215.7
Approximate Potential Profit: $2640 per contract
RRR: 6:1
Degree of Risk: Moderate to HIGH

Lumber chart

Sugar

CONTINUATION of Short May Sugar from 989
Exit Order: 1003
Approximate Risk Exposure: $156 per contract
Profit Target: 817
Approximate Potential Profit: $1926 per contract
RRR: 12:1
Degree of Risk: HIGH

Sugar chart

The charts in this publication are all made using Gecko's Track 'n Trade charting software. You can get a demo for free here.

Pick of the Letter


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Lesson du Jour


To see this week's Lesson du Jour on video, click the link below:

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Got a question that needs answering like an itch you can't scratch? Send it along to Erich@supportandresistance.com and I'll be happy to try and clear things up for you.
 

Required Risk Disclosure and Disclaimer