Emini FuturesCast / The Daily Pod 09/26/11
(QQQQ)(DIA)(SPY)(GLD)(SLV)
Michael was out today but he will create a recap for us later. The early going was a bit of a head scratcher with the back and forth action. We ended up taking only 2 trades this morning in the Live Trading Room.
We bought the YM @ 10,735 @ 7:31:34 PDT and exited with a 20 point profit @ 10,755 @ 7:32:55 PDT
The second trade was far more exhilarating. The students called this one and I traded it blind based on what they have learned and without the benefit of a chart in front of me. They nailed it cold!
The told me to buy the ES @ 1136.75 @ 8:18:21 PDT. I was using an MIT order and caught a bad fill with 2 ticks of slippage (highly unusual). The crew walked me right through the entire trade. Due to the slippage on the fill they instructed me to adjust my target and my stop to comply with the rules of this particular set-up that Michael has been teaching them. The next thing I heard was "move your stop to break even". Which I did (plus a tick). We hit our target of 1139.25 @ 8:23:09 PDT and that ended our morning. That ended a GREAT morning! Thanks guys!
Not only was I impressed by their ability to call the trade but I am now even more impressed with Michael's teaching ability than I was before. You should stop by and see what you're missing.
Michael will be back at the helm tomorrow morning but I'll be lurking in the background taking notes.
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