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Historical Simulator Plug-in

Day Seventeen

Video Transcript

Okay, we're back! We're looking at this same old Corn contract. Day after day, it's been a solid month. All that it has done is kind of petered along. Let's see one more day, one little tic.

Let's go onto Feeder Cattle. Let's see if we can get some activity out of Feeder Cattle, now. Come on Feeder Cattle, come on, step, there, oh.. that was good. It dropped for us, it dropped for us.

We have an open profit of $1,565.00 at this point. $1,565.00, that's not a bad little open profit, but look, we only have a close profit of $295.00. The fact of the matter is, because that is open profit, that is not ours. Now, we can use it to trade against, but you can't buy Ford trucks with it. You can use that 15.65 as open profit, to go out and use to cover margins on another trade, but you can't take and go buy Ford trucks with it. I said that twice for you, so that you would catch on.

Okay, the only way we can lock in a little bit more profit is maybe to move that stop loss right down there close, just above that little shelf right there. Now, that we could do, we could bring that right in there, we're risking a lot less money. But, there again, what if it turns around and what if it just bumps its head against it and turns and drops through the floor? I'm always worried of that, because it happens to me so often. I like to give markets room to grow, but not so much that they take all my my profits on the retracements.

Okay, let's go onto the next one. Gold- oh, now, here we're trying to play a game with Gold. Let's step that forward.. oh, look at that! Buy 4, that market did break out of that one hard, didn't it? Oh, and look, it just barely missed my sell limit, by just pennies, just pennies. Oh, I wish I would've had that a little closer. I wish I would have caught that one right there. I wish I would have caught that one, right there. That's alright, maybe I'll get it tomorrow.

What did that do for me? Open profit, look, I have an open profit of $640.00 now. I have a close profit of $840.00. So I lost $840.00 on that bad 123 top formation, when it broke below the number 2 and then retraced on me. It went the wrong direction. But maybe not, you know, I mean, I didn't put my stop loss behind the number 3 point like I should have and let this thing grow up to the number 3 and come back down, and break below the number 2.

This is a nice little downtrend, I may be playing games here, I may be losing my shorts. This may have been a very bad idea. The only we're going to know, is one Tic at a time. But you were here with me, you know the logic, you know why I did it.

Now, the question is, was it sound logic. At least we're learning something, whether it was sound logic or not, we might be learning bad logic, but at least it's learning. It's learning what not to do, right? I hope you're recognizing what to do, and what not to do.

Alright, let's go on. Commodities- step.. that's not bad. That's not bad, it closed lower, still just kind of going sideways, there. I would like to see it drop one more day, and then I'll move my stop loss in. I'll move my stop loss right in behind that little stop right there, if I can get it to drop down one more day.

You give me one more drop down, baby, and I'm bringing the stop loss right behind that level right there. Yeah, I think that's what I'll do.

Let's go on to Live Cattle- step.. nice drop, nice, nice drop. Beautiful drop. Nice, nice, beautiful drop. Okay, $1,482.00 in open profit, $1,480.00 in close profit. We're loving Live Cattle, boy, we're going to go out and have ourselves some rib-eyes tonight!

Let's go back on, let's see how we're doing on our Oats contract. Step.. oh, we're just kind of going sideways, didn't get stopped out, didn't continue on, didn't make me any money.

Silver- we haven't decided what to do with this Silver contract, we don't if this is a nice little Head and Shoulders little triangle formation thing happening here, we're expecting it to come down, or not. I don't know. I guess we could come in here and place an order here, below the neckline. Looks like the neckline is probably right in there.

How many do we want to sell? We want to jump right back out with 1 here, 2 here, so let's sell 2. Maybe we could sell 3 and catch one down there. Let's do 3, that's a pretty confident move right there, thinking that- that's a solid little head and shoulders, I don't know if it is or not. I don't know if it's solid enough to warrant 3 sells. Sell 3, buy (1) on a market if touched here, buy another (1) on a market if touched here, Buy (1) on a market if touched. I'm going to put my last one clear down here. Buy (1), Buy(1) on a market if touched.

Risk Reward- $700.00 for potential profit of $1,000.00. There again, you have to decide, I don't know.. this market is really going kind of sideways, and we're putting up quite a bit of money to trade it. It might go the wrong direction, against us. You never know, throw your hat in the ring.

Wheat- step.. it's going the way we're looking for it to go anyway; at least it's coming towards us.

Okay, that's it for the day!

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