Wednesday, February 22, 2012

AKA: “How I Wised Up and Started Making Consistently Profitable Trades”

When learning to day trade futures, you have to keep so many factors in mind. Saying that it is difficult would be the understatement of a lifetime. When I started developing my day trading strategies for futures, never did I realize how hard the waters would be to navigate. Just when I thought that I had an edge, I got pummeled in a merciless way. The stock market tends to do that.

After recovering from my pummeling I realized that there was just so much that I didn’t know, so I went on a quest to find an advisor that could help me. Little did I know that so many of these so-called “advisors” were waiting in the wings to sell me a system that they developed that couldn’t really be executed correctly.

Realizing most advisors lie…

I tried quite a few of them, but I could never execute like they claimed they were doing. I remember one of them was using an Elliot Wave system of prediction. I watched the guy’s system break down hard one day, resulting in a massive loss because it smashed down through his stop-loss “level,” only to see the market recover those losses the next day – and this guy was bragging about his victory.

I got pummeled, and I knew firsthand that his system failed, but there he was declaring victory about how “right” he was about the market direction. I even went against my own instincts on that trade because I thought that he was so much better than me. It was then that I realized he didn’t even trade what he was selling. I was frustrated and furious, but I was determined to find someone or something that could help me succeed.

That’s when a friend of mine recommended an advisor named TradersSmarts for trading futures.

What I was tired of…

I was tired of being sold some fantasy land dream about living a life of luxury and having all this spare time because success would come when I found the right push-button “trading system.” I had wasted enough of my money and time on losing trades and purchasing trading “systems” that sell this magical dream without mentioning the work or the real skill to make that “dream” come true.

Starting with TraderSmarts…

I began reviewing TraderSmarts’ website and liked what I saw immediately:

  • Clear examples of his charts and how his levels work
  • Simple, straight-forward strategy
  • No BS or ridiculous sales pitch about what a wonderful life I’d be living if I just laid down the cash for his “magic system”

He uses a futures trading system that he has developed and used for over 20 years.  The fact that his website is plain and doesn’t have some jacked up sales pitch was enough to make me raise an eyebrow and think that this guy isn’t messing around.

In addition to his Premium service that sends his charts and levels nightly via email, he also has an Intraday system that gives live alerts via Twitter.  The friend of mine who recommended that I check out TraderSmarts subscribes to the Intraday service and loves it.  In fact, when I asked him how TraderSmarts did the last couple of days, he told me that he nailed two trades, a short on gold (GC) for over 100 ticks and a short on crude oil (CL) for over 80 ticks.

I was in shock about what I heard. Not only did he nail those trades, but he got the gold within 1 tick of the high. It made it even more real to me that here was a guy, who, despite his success with his system, was still adhering to keeping the appropriate stop losses.

My experience with TraderSmarts’ Premium service…

Using TraderSmarts’ Premium service has:

  • Enabled me to study important levels ahead of time, which has really helped me to focus on the points that matter the most.
  • Helped me no longer get lost in the crazy volatility on intraday charts

I used to get overloaded with data and indicators before the daily open-cry market even started, and generally this led me to freeze up as potential trades unfolded, causing me to miss countless opportunities. But with the addition of TraderSmarts’ Premium levels and seeing how the market prices respond to his levels, I realized that I was too focused on unnecessary lagging indicators which were just slowing me down and causing me to hesitate.

My experience with TraderSmarts’ Intraday service…

Friends of mine have heard me say that I would love to see some of these so-called experts put their money where there mouth is. Well… TraderSmarts does just that. With the TraderSmarts Intraday live alerts he is merely sending live messages to his Twitter followers about which trades he is taking in advance, and it is up to you if you want to trade alongside him.

Having the Intraday real-time trading alerts made me focus on seeing the context of the market. TraderSmarts lets you know the upcoming trade and how he is going to play it ahead of time. By immediately receiving the live alerts as actual market scenarios unfold, I have that extra moment to make an informed decision about if I will take that particular trade or not.

Having that type of context and experience on each trade has taken my understanding of the market to a whole new level. This type of mentoring system, using TraderSmarts’ charts and live alerts, has changed the way I view and trade the market.

Having the TraderSmarts’ Intraday service has also enabled me to not get overwhelmed by so many futures charts. TraderSmarts has an innate ability to identify which trading instrument is currently in play and alert you in advance of the entry and exit strategy. I used to get overwhelmed trying to figure out which charts I should be watching and this led to missing many opportunities. Having TraderSmarts there is like having 10 sets of eyes on the markets at all times.

When I first started trading futures I had a lot of ups and downs. I only wish I could have found TraderSmarts much much sooner. Learning from such an experienced and skilled technician from the start would have saved me time, money, and mental energy. I have come to view TraderSmarts as an ally in the market whom I can trade alongside day after day using his Premium charting levels and his Intraday instant alerts. I can never get back the time and mental energy that I’ve lost, but I’m extremely pleased that I found TraderSmarts when I did.

Interested?

Check out TraderSmarts’ services here. Single subscriptions are $199 per month, or you can bundle subscriptions together for a reduced rate (highly recommended).

If you want to get serious about trading, then sign up for TraderSmarts’ services. If you want to keep wasting your time and money, then best of luck to you.

Questions?

If you have any questions about my experience, feel free to contact me using the form on my Contact page.

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Today using TraderSmarts “Premium” and “Intraday” live alerts I was able to get in on two fantastic trades! The first was a short on GC (gold) from 1729.40. The high was 1730! My first scale was 1724.40 for 30 ticks. With TraderSmarts giving context to the market I even shorted again up at the next push higher at 1727 which quickly dropped in my favor. Since I had built such a cushion and with TS alerting his subscribers that he was holding for a larger drop, I decided to let my position ride and moved my stop loss down to a profitable cushion in case the GC surged to the upside. It didn’t, and I ended up taking out a full scale at 1715 due to the market closing. I was targeting 1714.

The end result of the GC trade:

  • 1/3 position — profit of 30 ticks
  • 1/3 position — profit of 120 ticks (this was when I shorted again the 1/3 I had already scaled)
  • 2/3 position — profit of 150 ticks

To make things even better, towards the end of the day I went long on TraderSmarts “highest odds long FTD” trade on the ES from his “Premium” service at 1338.50. So I went long at 1338.50, the day’s low was 1337.75, that’s 4 ticks of heat I had to endure, and after that gold (GC) trade earlier, that was no problem. The ES would go on to surge to the upside in the last 30 minutes of trading with me riding along! I took a full scale at 1347.50 to close out the day. Nothing like another 36 ticks on a full position.

Having TraderSmarts’ “Premium” and “Intraday” services has enabled me to nail trades like this that I used to miss out on or get stopped out.

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February 8, 2012 YM Trade

Yet another great day on the market with TraderSmarts!  One of today’s trades was a long on the YM (Dow) e-mini where I went long after the big drop at 12784, this was TraderSmarts “bully buy point” today.  I was hoping to hold all the way to 12866 but the market ran out of time [...]

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January 30, 2012 ES Trade

Today TraderSmarts’ levels did it again on the ES.  His highest odds to take a long trade on the ES was between the levels 1297-1294.5. Today’s low was 1296! I put my long in at 1297.25 and only took 4 ticks of heat. I then scaled 50% of my position at his next resistance level [...]

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January 26, 2012 ES Trade

Here is a typical example of TraderSmarts’ Premium service: These numbers were sent out to subscribers the night before for preparation. This gave me some time to focus on the points that really matter. I compared them to my own notes and I came up with possible entries ahead of time. The “highest odds short” [...]

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