Quick Time Frame Screen Set-Ups!

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So, Where Are We Now?

This was the first day in a while that reminded me of trading during holiday seasons past. Actually, a 13 point range in the S&P is only modest relative to some of the crazier sessions that we’ve become accustomed to recently, but the pace seemed a little slower, a little less frantic, today. I was out of the office, and had the rare treat of being able to trade futures a la Todd, which I always enjoy.  I felt that the opening range was a little too tight to make taking the first half hour break to the upside worthwhile, but when a while later the lower end of the range was broken, I was able to make some money, and then took a subsequent short and long, each good for a couple of points with a minimum of stress.

I’m ever so slowly learning to be more deliberate with my entries, which makes reaching profit targets easier and reduces the stress that comes with being under water for prolonged periods, even when the absolute level of risk is well controlled.  I like green, and really dislike red, even though the latter is part of the game.

I have some longer term equity holdings in place, all protected with short calls sold when the stocks were somewhat higher. The stocks are now submerged, but the short calls have been effective in playing defence during the recent downturn, and the net open positions are almost exactly at flat. The calls all expire in January, so time decay will start to pick up in a serious way, and two of the larger holdings go ex-dividend tomorrow. Since the annual yields are over 3%, it’s a nice addition to the total return.

I don’t have a lot of confidence in the macro environment right now, so I’m only looking for stocks that pay 3% plus. When I find them, I immediately look to write calls against them in uptrends, and write puts during downtrends. This isn’t rocket science, and can add nicely to overall returns. I’ll miss some home runs, no doubt, but I’m very happy over time with a succession of singles and doubles, with few strikeouts.

Despite a pretty decent move to the downside in the SPX, the index actually reached a level yesterday (1209.18) that looked capable of providing support. It held, and although today’s close wasn’t appreciably higher than yesterday’s, it’s now 11 or so points above the potential support level. We’re still very exposed to headlines, positive or negative, but my sense is that players are sufficiently short that the upside is more vulnerable to a surprise. I’m about 40% net invested at present, and given the calendar I’m probably not going to put anything else on between now and the end of the year.

It’s important to remember that while Todd focuses in his course materials on day trading equity futures, his techniques apply to all markets and timeframes. I use exactly the same chart setups for longer term equity holdings that I employ when I’m trading futures. Familiarity with how price action tends to work creates confidence, and confidence is one of the things that makes a huge difference in traders’ returns. A confident trader waits for the right setup, enters trades at good levels, and then patiently waits for profit targets to be hit. Confident traders also recognize that headlines or other surprises can change market conditions, and leave appropriate stops.

Traders lacking in confidence will grab a bid or offer as soon as they see a setup, and then exit quickly if the price action moves against them, only to watch in frustration as it proceeds to reverse and head back to reach the original profit target. We’ve all been there, and we’ve all done that, but working with Todd’s methodology can make the learning process much less expensive.

Here’s hoping that everyone is doing well; all the best for the holidays!

Making ‘Small’ Trading Accounts Work for YOU!

Do you have a small trading account?  Ever wonder what it’s going to take to make it a HUGE trading account?

Here’s another video for you called:


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It’s the 3rd video in your “Introduction to Options Profits” mini-series…

… and I show you how you can still make good monthly income with a small trading account … without risking too much money!

It all starts by approaching your investing a little ‘different’ than everyone else….

Many of my advanced students insist that it’s the ONLY smart way to invest your money (regardless of your account size!)…

Yet this idea is still considered to be a ‘new’ concept with most traders and investors…

Check it out for yourself and let me know what you think!


P.S.  If you missed the other videos in the series, you can watch them here:

The Hidden Truth About Bear Markets

Your First Step to Making Millions in Any Market

3 Profitable ES Trades Before 1pm

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Steps to Help You Become a Successful Trader

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Great Textbook Short Trades on the ES

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The Hidden Truth About Bear Markets

Here’s the second video in your “Introduction to Options Profits” mini-series called “The Hidden Truth About Bear Markets Video”.

Inside you’ll discover a few little-known truths about a bear market that no one wants you to know…

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Seriously, we’ve had two strong bear markets over the last decade and another bear market might be just around the corner….

And, trust me, you don’t want to come heard on with this bear without being prepared!

Doc’s “Your First Step to Making Millions in Any Market”

Here’s the first video in a 4-part mini-series entitled: “Introduction to Options Profits.”

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What are some of the things that you know you need to do to achieve your financial goals in 2012?

Let me know! Leave a comment below….


How to increase the profitability range of the Iron Condor

How do we set up the widest possible Iron Condor every month? Watch this video to see how we use the chart to increase our probability of success. 


2 Great trades so far on the ES!

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