Official Room Calls: 3/4 trade green for a total of +28 points (+18=[3/5 * (2/3*10 + 1/3*34)], +12, -10, +8) or +7 points per trade per contract.
There were some very nice moves to be had today. If you had taken the 15 min opening range breakout/breakdown trade you would have made some monster gains (+10 on first 2/3 and +34 on the remainder). A caveat of taking the trade is that although the success rate is extremely high for our most recent 6 month backtest period (117 trades given CajunSniper's specified parameters) the drawdown when taken is large (40 points) which makes it treacherous for new traders with small accounts. Also, you would need a separate account if trading our "MaxSpan" strategy on the YM while day trading our other YM signals, or adapt the strategy to work on another type of contract, such as the ES. We currently do not have a backtested strategy with ES parameters (although with this strategy, the concept is sound and has been applied successfully for decades by other professional traders). CajunSniper issued his "MaxSpan" strategy short call at 10:09 AM EST at a short entry price of 12495 and updates to take the first portion off for +10 profits and trail the stop were given throughout the morning and during deadzone. In fact we had the MaxSpan breakdown trade on at the same time Alex issued an oversold trigger call to go long (from a bounce near the gap fill level), and both worked. Alex issued advice to short rallies (retracement bounces) in the afternoon due to the obviously bearish state of the filters, which is exactly what we did at 2:18 P.M. EST from the 12478 level. The trade was good for between 6-18 points, depending on your scale-out strategy and which of our targets you were using as your out point. Our one stop taken for the track record was at dead noon EST (stopped out for -10), which was warned that newbies should stay out. Some of our more experienced traders capitalized on many of Alex's non-official calls, which are not reflected in the track record, being higher risk trades.
For those interested in the MaxSpan (15 min opening range breakout/breakdown strategy), you might want to read CajunSniper's article on his rules for his own mechanical system/script: http://puretick.com/BB2/viewtopic.php?p=138#138
So far Alex has called his trades 155 correct out of 196 trades, with 1 BE trade. Great work again today Alex!
Text Transcript (all time stamps are in EST
Executions/Track Record: http://www.puretick.com/trkrecord.html
Morning Session (subscribers only): http://puretick.com/member/audio_logs/alex_01092007_morning.mp3
Afternoon Session (subscribers only): http://puretick.com/member/audio_logs/alex_01092007_afternoon.mp3
Morning Session: http://www.puretick.com/blog/?p=60
Afternoon Session: http://www.puretick.com/blog/?p=61