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Spread Scan Issue: September 30, 2009 - Volume 266
Welcome to this week’s issue of the Joe Ross Spread Trading Newsletter. The Spread Scan weekly newsletter is designed to assist you in becoming a better, more complete trader by showing you, within the context of the markets, how to trade spreads. Follow this link to view this week's Spread Scan immediately, or read on.
In this newsletter you will see applications of spreading in the futures and commodity markets. Spreads are applicable to all futures markets including currencies, commodities, financial instruments, and stock indexes. It is even possible to trade spreads in the all-electronic intraday market using day trading techniques.
Spreads are based on seasonality, correlation, backwardation, chart patterns, and simple observation. Spreads follow the Law of Charts™ and can be implemented using the Traders Trick™ entry.
In each issue of Spread Scan, you will find an upcoming spread trade for your consideration in the following week. You will also find a review of an existing or closed spread so you can see and learn how spread trades are managed.
Spreads offer you the most efficient use of your margin account of any other way to trade. Many traders find they like them so much that spreading becomes their primary way of trading.
Each week we present spread trading examples and opportunities to help you become a more professional spread trader, and we provide you with helpful content of interest to traders:
- Andy's Spread Trading Example
- Previous Trades
- Andy Jordan's Trading Bites
- Spread and Position Trading - Get detailed trading instructions - every day - with Traders Notebook
- Next online live discussion for Traders with Joe Ross: Wednesday, September 30, 2009
- About Joe Ross and Andy Jordan
- TE Traders Forum
- Contact Us
Be sure to "white list" us to ensure that you receive all your issues of Spread Scan. That way you can continue to enjoy learning through the best free educational trading information available, and we can keep you informed about additional trading techniques, educational services and products to help you grow as a successful and profitable spread trader.
There were no indicators for a really strong trade so far this week, as sometimes happens in trading. It is best to use this time to do other things.
Lesson to be learned: we earn more money through ignoring weak trades than through "taking a chance" (gambling) on them.
On September 23 we told subscribers of our professional daily spreads & position/swing trading newsletter Traders Notebook, "Consider selling the December Gold at 1007 stop market (no entry before 7:00 PM CT; no entry on a gap). Suggested stop at 1011.5; suggested first target at 1002.5. Basis is a TTE in front of a 1-2-3 high."
Here's how we suggested managing this trade:
09/24 Short at 1007; hit suggested first target; recommended stop at break even.
09/25 Suggested stop at 1002.For more information about our daily newsletter, visit our Spread Website to find out more about Traders Notebook.
Questions or Comments? Please email us: support@spread-trading.com
Welcome the Idea of Breaking Even
by Andy JordanNo one enters a trade with the idea of breaking even as a goal. Rather, we set out with high hopes, excitement, and expectancy – the promise of big dreams. But then something odd happens with our trade – we break even. Our reaction is a feeling of annoyance, of let-down.
Breaking even happens. It is one of the possible outcomes of a trade. We must not see it as an unwelcome event. Distaste for breaking even can put us under pressure and induce over-trading or other wrongful activities. We have to become comfortable with sitting quietly and patiently at the break even mark.
Breaking even happens very often to the best of traders - if they were not the best of traders these trades would often have resulted in a loss.. Only if we accept the idea of breaking even are we able to focus on new trades without putting ourselves under additional pressure.
Real trades - real money.
Get detailed trading instructions - every day!SIGN UP for our Daily Spread & Position Trading Advisory Newsletter: Traders Notebook™
Good Trade Management & Trade Consistency
More Spread & Position Trade Opportunities - too good to pass up
Traders Notebook™ is the premier spread and position trading newsletter, the only one of its kind. Choose your subscription plan online and try it out!
Traders Notebook™ is definitely for YOU if you are:
Traders Notebook™ lets you in on high probability futures position trades. These trades are hand-picked by Andy Jordan and Joe Ross. They are very carefully chosen for optimum results.
Traders Notebook™ also directs you to all the spreads you might want to trade. Subscribers have daily access to online help and advice. Spreads are chosen by Andy Jordan, our Trading Educators' professional spread trader. We believe Andy is one of the best spread traders in the world!
“Traders Notebook is a great starting place to learn how to trade real spreads. You learn a lot from just watching the trades selected, basis of selection and of course most importantly the management of these trades. Thereafter you can select and trade the spreads that you fill comfortable with! The trading tidbits also provide one with a wholesome approach to trading. Thanks Andy for all the good work. And whenever i am in doubt, I look back to look at the performance of Traders Notebook for the past year for reassurance!” -- A. Adere, Tanzania
“I like everything about Traders Notebook. I use my own filters to either do exactly as Andy does it, not do the trade based on my own knowledge and opinion, or to do it in larger or smaller size based on my filtering. I have been doing very well with it. So thank you and please keep it up!” -- A. Reichmann, USA / NY
“Hi Trading Educators, Traders Notebook is absolutely great for learning to trade spreads. I started trading spreads half a year ago and looking back it feels like a have gone a long way already. (Although still in the beginning). I want to thank you for making this service available. It's a perfect way to get introduced to the world of spreads!”
-- O. Bakkers, Netherlands“Traders Notebook has been great for me! I understand that being a successful trader takes alot of work and alot of time to make mistakes so that I can learn hands on, how to handle a trade. Andy is the best at what he does and is very honest and careful with the trades he takes. He is quick to respond to emails and also has a wonderful futures broker that he can tell you about, which, is invaluable when you are new to trading.”
-- L. White, USA / TXFollow this link for more details and sign up for our PREMIER Spread & Position Trading Advisory Newsletter, Traders Notebook, to increase YOUR success and make YOUR trading a more rewarding trading experience.
Try It Today and You'll See!
FRESH PERSPECTIVES - Ready for YOUR active participation.
Joe's live chats are an incomparable service from Trading Educators. The chats encourage forward-thinking, and inspire others by what is shared. Gather up your questions and comments, and "meet" other traders on line. Joe Ross will answer everything he can - come and join either his U.S. Live Chat or his Euro Live Chat:
Next U.S. Chats for September, 2009
Wednesday, September 30, 2009
We hope you will join us!
Here
is where you login to Joe's Wednesday Chat
You can also view our saved weekly Chat Logs in case
you missed any Chats but want to be up-to-date
Next Euro Chats for September, 2009
Wednesday, September 30, 2009
We hope you will join us!
Here is where you login to Joe's Euro Chat
You can also view our saved weekly Chat Logs in case
you missed any Chats but want to be up-to-date.
ABOUT JOE ROSS:
Joe Ross has been trading and investing since his first trade at the age of 14, and is a well known Master Trader and Investor. He has survived all the up and downs of the markets because of his adaptable trading style, using a low-risk approach that produces consistent profits. Joe Ross is the discoverer of the Ross hook(TM), and has set new standards for low-risk trading with his concepts of The Law of Charts(TM) and the Traders Trick Entry(TM). Joe was a private trader and investor for much of his life, but a serious health situation in the late 1980's caused him to shift his focus, and that is when he decided to share his knowledge. After his recovery, he founded Trading Educators in 1988, to teach aspiring traders how to make profits using his approaches to trading. Joe Ross has written twelve major books and countless articles and essays about trading. All his books have become classics, and have been translated into various languages. His students from around the world number in the thousands. His file of letters containing thanks and appreciation from students on every continent (now including Antarctica) is huge. As one student, a successful trader, wrote: "Thanks again for your trust and patience...Joe is a fountain of knowledge...but it is his wisdom that really sets him apart." Joe Ross holds a Bachelor of Science degree in Business Administration from the University of California at Los Angeles. He did his Masters work in Computer Sciences at the George Washington University extension in Norfolk, Virginia. He is listed in "Who's Who in America." After 5 decades of trading and investing, Joe Ross still tutors, teaches, writes, and trades regularly. Joe is an active and integral part of Trading Educators. He is the primary author and Editor-in-Chief of the company's newsletters: Chart Scan(TM), Spread Scan(TM) , Traders Money Club™ and Traders Notebook(TM). He is also the host of the free Traders Live Chat, the free European Chat for Traders, and the moderator of his popular trading forum. |
Joe's philosophy for helping traders is:"Teach our students the truth in trading — teach them how to trade. Give them a way to earn while they learn, realizing that it takes time to develop a successful trader."
Joe sets forth the mission of Trading Educators as follows:
- To show aspiring futures traders the truth in trading by teaching them how to read a chart so that they can successfully trade what they see, and by revealing to them all of the insider knowledge they need in order to understand the markets.
- To enable them to trade profitably by training them to properly manage their trades as well as their mindset and self-control.
For information about Joe Ross and Trading Educators,
please follow this link...
ABOUT ANDY JORDAN:
Educator
for Spread Trading and
Editor of Traders Notebook & Spread Scan Andy
Jordan made his first option trade at the age of 18. Since then
he has been fascinated by the world of trading. In 2002 he met
Joe Ross, and became interested in spread trading. Andy was
then intensively tutored by Joe Ross and personnel at Trading
Educators. Andy is the founder and president of Jordan Trading, S. A. Even though Andy has shown through live chats and in several
trading journals that he is able to day trade today's markets,
spread trading has always been his favorite. In
addition to his own spread trading activities, Andy is the editor
of Traders
Notebook. For those interested in one-on-one personal coaching,
Andy has developed and instructs an online course in spread trading, "Trading Mentoring - Trade with
a Pro," during which he demonstrates all aspects
of trading from choosing the trades on through how and when
to enter the trades, manage the trades, and exit the trades.
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Community Forum for the purpose of providing positive, uplifting
educational material to traders who want to participate. There
is much to be gained from the collective wisdom and experiences
of those who choose to participate. Let’s share what we have learned
that has been helpful. Let’s all push forward to exchange new
ideas and interesting concepts. |
If you are willing to share what works for you, then we welcome you. Your ideas may help someone else on their way to success. In turn, you may pick up an idea or piece of information that will help you to become a better trader.
Joe Ross has been trading the markets, virtually all of them, beginning well over fifty years ago. He is now in his seventies, enjoying sharing his experiences of many years through his books, seminars, individual tutoring, and newsletters.
We hope you decide to join us in our forum to make your contributions as well.
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Disclaimer:
The Commodity Futures Trading Commission has asked us to advise you that trading spreads or outright futures is complex and carries a high degree of risk. While there is opportunity for incredible wealth building, there is also the risk of losing even more than you invested. Of course, that's not unlike most other businesses. But informed traders are the best traders!