Big Weekend Edition for January 15th, 2012
I can’t believe it’s only been a week since we returned from Mexico. It seems soooo much longer and I think my tan’s already beginning to fade. I’m just too busy. Most days I can’t even remember what day of the week it is. Thank goodness for smartphones so I don’t look like an idiot asking people what day it is. I think my wife feels the same way because she’s already scouring the travel magazines and websites looking for the next getaway. It won’t be for a couple of months though.
We’ve got lots of good stuff going on at the site and with our partnership with Indicator Warehouse. Look for the announcement of some new trading systems to be released, which yours truly had a hand in helping to design. These trading systems are all meant for daytrading with NinjaTrader software so if this is you’re modus operandi then stay tuned.
In the meantime I’d better get busy putting together some trades so I can afford to take more time off!
Enjoy this week’s issue,
Erich
erich@tradershelpingtraders.com
Papertrades
Currencies Market Overview
Australian Dollar
COMPLEITON of Long March Australian Dollar at 10200 (January 10)
Exit Stop: 10200 (January 13)
Approximate Profit: $0 per contract
1st Profit Target: 10300 (January 12)
Approximate Profit: $1000 per contract
Click on the charts to view a full size image. Hit your back button to return to the blog.
Euro FX
The EC gave us a reaction off the 12900 region as expected; however the risk amount is so large that you might consider trading the mini-Euro, daytrading, trading options or just staying FLAT.
If the March EuroFX opens at or above 12605
SELL 2 March EuroFX at 12600 (stop)(day)
If filled: Exit Stop: 12900 (stop)(GTC)
Approximate Risk: $3750 per contract
Profit Target: 12400 (limit)(GTC)
Approximate Profit: $2500 per contract
Degree of Risk: HIGH
Financials/Indices Market Overview – FLAT
Grains Market Overview
Canola
Canola stalled after hitting our profit target last week; however with stops at breakeven it doesn’t matter much now. I’m hoping it is nothing more than a short term hiccup, but we’ll see how things unfold this week.
CONTINUATION of Short March Canola at 5280 (January 11)
Exit Stop: 5280 (stop)(GTC)
Approximate Risk: $0 per contract
1st Profit Target: 5190 (January 12)
Approximate Profit: $180 per contract
Meats Market Overview – FLAT
Metals Market Overview – FLAT
Softs Market Overview
Cotton
Watch List – Looking at the chart you should be able to see why I’m waiting for a support test around 9300.
Be sure to check out this week’s video lesson.
