You are here: Educational Videos » Historical Simulator Plug-in » Day Nineteen

Historical Simulator Plug-in

Day Nineteen

Video Transcript

Alright, one more day, one more tic. Let's come up here to Corn, step..nice little retracement.

Feeders- step..oh, coming back against us, coming back against us. Step..oh, going a little sideways, nothing happening there for us today.

Step.. oh, that was good! That was nice, that's the drop we were looking for. Let's bring our stop all the way in okay. If that thing breaks above that point there, I want to get out. Then I'll want to get out, if it breaks above that point.

That's how you do a stop loss, stop loss orders, you want to to have it break passed some resistance to prove that it's going in the opposite direction before you get out of the market. Not like trying to get out of the market when you're to fill an order with an MIT, you want to be on the inside. Stop loss order, you want to be on the outside. Stops on the outside, Market if touched and Limits on the inside. Keep that in mind.

Okay, step.. oh, there's our Live Cattle coming back against us. Now, I think we might be looking at our retracement on our Live Cattle contract, but how far? We don't know.

Oats- step.. I'm done with Oats. You know what, right click, Delete. Are you sure you want to delete the Oats chart? Yes, I am.

Silver- step.. oh, look what Silver just did. That's a new right shoulder, if that's the right shoulder, that's a silver right shoulder. That market would be right there, just above it.

Wheat- step.. yes, we're into Wheat with 2, did we make any money? Down 25, filled our order and closed below where we got in. Okay, let's not forget this time that we need to place a stop loss order right behind the right shoulder. Okay, we are long 2, so we need to go short 2, if we're wrong. Okay. So what is our risk on this one, did we say? About $550.00. Okay, I want to see that jump up and profit me something right here, quickly tomorrow.

We're done for the day, see you tomorrow!


Close
Questions: Call 1-800-862-7193, Ext. 2
Note: All data/software services are recurring