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Historical Simulator Plug-in

Day Fourteen

Video Transcript

Alright, we're ready to trade again. We're ready to go in and find out how our meats are doing.

We're doing pretty well in our meats today. We have to do a data download. Come in, get my data for the day.

Again, I was walking around the office, pretty proud of myself, telling the ladies I was checking my Stochastics, yup, Stochastics are doing well today. Okay, they're happy.

Looking at my Corn contract, you know, I'm looking for a retracement on that 1, 2, 3, A, B, C bottom down there. I thought I should do myself a Fibonacci Ruler on it. You know, running a Fibonacci Arc on that Corn contract. Because that's what I do when I trade my commodities, I run a Fibonacci Arcs and the ladies are like, "Oh, wow, what's a Fibonacci Arc?"

Let's step our contract forward and see what happens. Looks like we set ourselves a new number 3 point. I want to see that come back just a little bit before I place an order above the number 2. Actually, that's not a new number 3. Did you notice that yesterday, and I didn't notice that. That's a new annual low.

Cursor- last day, low, $204.50, $204.50. Last day, $204.50. What's this one? $204.50, it's a matching low. What about that one? $204.50, $204.50, $204.50, $204.50, we have a triple bottom. Oh, my goodness, we have 3 tics that hit that $204.50. Is that what it said? It looks like it's lower to me; that's not $204.50.

Cursor price, low, $205.25. Cursor price is $205.25. These are $204.50 and $204.50. So, we have two new annual lows. Hmm.. my full service broker didn't tell me that was a new annual low. Okay, I got a new annual low.

1, 2, 3.. that'll probably be another 20 days before that thing forms into another 1, 2, 3 bottom formation, we need to place our order above the 2 point. Ugh, I'm getting sick of that Corn contract.

Let's go onto Feeder Cattle, it's doing something for us. We like Feeder Cattle's. Step.. oh, it closed a little lower than it yesterday. It gave me a little bit of money. Open profit $1,100.00. Close profit $295.00. That $295.00 is good, I like it. I stuck it in my pocket to close profit, I'm happy with it.

Let's come back to our Gold.. step.. Gold is losing money for me again. $560.00 loss on Gold, it's going against me. But it didn't break above that trendline yet. Let's set that stop loss order just above the trendline. It's coming down that trendline, it should turn around now and come back down and give me some money here tomorrow.

Let's go on to Lean Hogs. Step.. how are we doing on Lean Hogs? That's good, nice on the down move. Closed a little bit lower than what it closed yesterday. So, what am I doing here? Close profit, $910.00, that still is 2 contracts we put in our pocket, very nice move, very nice. Open profit $1,372.00. Now, I have a problem, I need to consider moving my stop loss. Always have to consider that stop loss. Let's use our Fibonacci Ruler this time as a guide. Let's move that stop loss in to match our 38%. How's that? Okay, stop loss.

Alright, we're going to go on to our Live Cattle contract. Boy, we have a lot of calculators on there, don't we? Step forward, step.. nice move, nice move. Where did it close, where did it close? I can't tell where it closed, show text. Last day, close 71.22, open 71.95. So, it closed down at the bottom of that thing, didn't it? Right above, that's a nice little move. It dropped right down, that's very bearish, which is very good for us.

Let's see.. so, open profit is $1,804.00. We need to consider a stop loss move again. Let's not use that one, let's use the Fibonacci Ruler. Let's bring our stop loss down even with the 38%. Buy 2, we're short 2, stops are all okay.

We're headed towards that buy (1) market if touched. Come on down, please come down, just touch that one right there. Touch that baby right there and lock me in some more profit. I want it to lock in some more profit. I want it to lock in that $1,800.00, that would be so good. I don't want it to retrace and come all the way back up. See that? If that thing turns around and comes back and hits my stop loss.. oh..all that money, $1,800.00 would go down the tubes. But if it just moves forward, just a little bit further, just a little bit further. Come on, come down here and test this area of support right here. I want you to come down that, push towards that area of resistance, right here and you'll fill me and I'll be so happy, I'll be so happy!

Alright, commodities, let's go on to Oats. Alright, what are we doing here? Step, hey.. nice little move. Are we making any money here? Well, we're up $25.00, up $25.00 in Oats. What should we do with our stop loss order?

You know, gaps were meant to be filled. That's why they call them gaps. That's what they say, you know, little saying, gaps were meant to be filled. I'm worried this market might come back up and try to fill that gap. If it does that, it might come up, fill the gap, turn around drop right back down. If it does-

Okay, let's make a plan here. I don't want that market to come against me, but we have a real top high, here. I mean, look how high Oats are. I mean, it's way up there. It has to come back down. It has to make a retracement at some point, right? This looks like a good little retracement point. But we also know that this might be head and shoulders. What's this here, might be happening? Maybe this is a nice little head and shoulders we're looking at here. You don't know, maybe it's a little 1, 2, 3 formation. Either way, we're looking for a retracement, aren't we? If that thing retraces, that means I lose money, doesn't it?

Okay, but do I want to wait for that market to retrace and turn and drop back down, or am I worried that it's going to go up and continue up and make more high's? It just depends on where I want to put my stop loss. I have to consider these things. What does Stochastics say? Oh, look at that, Stochastics goes in a nice little Stochastics pop zone. It dropped down hard, it's dropping hard. It's only halfway, it barely hit the 50% zone. The last time it did that, well, it made it into the bottom oversold zone. Let's wait until Stochastics stays down here in the oversold zone, maybe it'll come down a little bit further. Okay, let's do that.

Let's go on to Silver. Step.. Silver, going back up that little channel.

Wheat.. step.. oh, nice right shoulder in Wheat. I like that one better, that one is a better looking right shoulder than the other one. I still like my chances in Wheat. I'm still happy with that, I'm still good with the right head and shoulders here, head and shoulders here, head and shoulders here, head and shoulders here. It only makes sense, doesn't it? That should retrace and come back up, at least 50% of that move. Which is right there at our sell limit.

I don't know, it's probably a bad trade. Bad, bad trade, Lan. Why are you showing these guys such a bad trade? The risk reward on this is awful. Risking $600.00 for a potential profit of $137.00. Oh, you're a wise instructor.

Okay, we'll check it out! See you tomorrow!

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