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| Date entered | Entry | Exit 1 | Exit 2 | Original stop | Adjusted stop | P/L | Account Balance |
| 5/11/08 | n/a | n/a | n/a | n/a | n/a | n/a | $20,000 |
| 5/12/08 | (S)878.50 | 868.50* | n/a | 883.50 | 871.50* | $1700 | $21,700 |
| 5/22/08 | (S)917.00 | 909.00* | n/a | 936 | 881.00* | $4400 | $26,100 |
Now that the day is over and gold has taken a beating I want to take our stop down another 10 points to 881.00 to lock in more gains. If it continues to waterfall down we will lock in more. I will update you on any changes.
Well gold is down another $20 this morning. I want to step in and tighen our stop to 891.00 to lock in profits on this play. Worst we can do on our second contract now is walk away with a gain of $2600 for a total gain of $3500. Anything extra from here is a bonus.
Well we got stopped on our final NQ contract. The first contract was a gain of $660 and the second a gain of $180. I would of liked to catch a bigger move but the nasdaq happened to be the strongest of the big 3 indicies. We still walk away from the trade winners!
on our Gold trade we still have the second contract open, I want to move the stop down on gold to 925, the worst we can do on this trade is break even. Second target is still open, I see some things happening with the YEN that could cause the dollar to rally hard and gold to fall fast, We don’t want to limit ourselves on gains.
USD/YEN chart
Below are books on technical analysis, I have found that if i can get just one idea or helpful tool from a book it is worth the entire read. The contents of many stock market books together has helped me in my trading.
Cire is out and about so I’m gonna run a quick update for him.
On the NQ play, we’re moving the remaining stop to 1 tick above high of today.
Remember this is a free trade so if you’re stop’s in you can’t screw it up period. 
Gold as you know was almost stopped out, but thanks to Cires laser guided stop you made $. Target 1 was hit, we’re leaving the stop on the 2nd half where it is until further notice.
After this mornings pre-market movement I want to update you on both of the open Key pivot plays. The Nasdaq futures play still has the second contract open. I want to move the stop to our entry @ 2008 and let the second contract ride for free, After today the stop may move down to lock in more profit but for now I feel its best to attempt to catch a bigger move.
In our gold trade we came about $5 from getting stopped out, then gold reversed and came down this morning to hit our first target of 909.00, doesn’t that feel great? The stop remains in place, I will update you on any changes.
The past week we had all eyes on the VIX, Transports and the key stock indicies. We got the breakout moves that we were ready for on all these markets. Here are some follow-up charts
I think we all know that with most technical indicators you can’t take every single signal, you can’t take every MACD cross, you can’t take every RSI oversold signal and so on. You would lose your money really fast. So what needs to be done when using basic technical indicators is looks for signals, or warning signs of a potential move. Thats when you step in and take your signal. Below is an example of a trade you could have taken today in the s&p futures market. you can see steps 1 & 2 give me a heads up that I should look for a sell signal. Thats when you take the indicators signal, that way your not jumping in blind with full trust in an indicator.
