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« Emini FuturesCast / The Daily Pod 08/31/11 | Main | Emini Futures Cast / The Daily Pod 08/30/11 »
Tuesday
Aug302011

Last Night's Emini Tweet Up 8 ES Points Plus

Last night's S&P 500 Emini Tweet aka "The Twade" was a tremendous opportunity for Globex traders.

Here's how we called it -

DeWayne Reeves
 
Here's how it played out -

The most aggressive entry was 1207, allowing price to peak at the Weekly Trading Zone was the conservative entry 1210. A represents an 8 point gain. B represents a 10 point gain. C represents a 13 point gain. If you were patient and waited for the 1210 entry, you can add an additional 3 points to any of the above results.

It's always fun to show an 8 point trade. Or 10, or 13, or 16, but is that reality? Well, according to the CME and Twitter it is. We really did Tweet the Trade at 3:29PM on August 29th and the CME says price really did hit 1210 . So even though it really happened, and we really put it out there before it happened, Is That Reality?

Reality is what subjective beings try to discover through objective means.

I really don't want to talk to you about last night's Twade. I want to talk to you about your realistic expectations. I want to talk to you about your reality.
Not mine, not some Guru, but you sir. I want to talk about you and what's real in your world. For some that's an uncomfortable conversation. Keep reading because we're gonna' have it anyway. Reality can be a bit of a bugger can't it? It gets in the way of our hopes, our dreams, our aspirations. That's why we avoid it, ignore it, or paint it a different color. I'm all for the non-conformist route but the issue with reality is no matter how we disguise it, it refuses to go away. Not matter how far we run from it, when we get there, the first thing we run into is .... exactly. So if we can't kill it, sell it, grind it, burn it, hide from it, or even run from it, what can we do?
We can face it! We can embrace it. We can walk with it, talk with it, splash some of it on our face in the early morning to clear away the cobwebs. We can play with it, dance with it, blog about it, but in the end...  we simply need to face it. Head on, in the light of day.
Ready?
Of course you aren't. That's the excitement. 
When's the last time you had an 8 point trade? Or 10? Or 13?
How often do you have them?
Unless you're really good at trading, or lying... the answer is not very impressive.
In fact the answer is probably depressive.
You've heard me say many times -
"You'll never get the right answer by asking the wrong question"
I'll take that a step farther here and suggest -
"You'll never achieve the desired results in your trading until you set the proper goal."
Once you establish a REALISTIC goal then the DESIRED RESULTS become a given. Kapeesh?
Now here's the rub. Many were told that just 2 points a day was an achievable goal. Many have been told that you can turn 10k into 1m in just one year with only 2 points a day. I know people who lost everything chasing that fantasy. Why is it a fantasy? Is there a flaw in the mathematics? NO! The math is pure.
Let's put aside the 8, 10, and 13 point trades.
Let's look at 2 points a day.
Let's pretend you open a 10k account which allows you to trade 20 contracts.
Let's be conservative and only trade 10 contracts. Fair enough?
Let's say we do get just 2 points a day. OK?
Let's say we never trade more than 10 contracts. OK?
That's $250k a year based on 20 trading days per month.
So if the math is true, and the markets really do move more than 2 points per day, why isn't everyone fat and sassy and raking in the cash?
Great question...........
The Guru said it "Could be done"
The Guru simply never showed you "How to do it"
There were probably some great analogies.
You probably felt stupid when you stumbled.
Because the Guru himself had done it. Right?
hmmm...
You might have even said "Got 'em" when you really didn't or you were just playing make believe in a simulator.
Am I purposely trying to make you feel bad? No.
This is about reality.
I wish that when I began trading futures, someone had cared enough to teach me the reality of trading and forced me to face the truth. Not the hype. Not the function of math. Just the truth.
Don't tell me.
Show me........... Just show me.
CFRN REALITY SHOW
We depart from the mainstream and do a little reality show everyday M-F. We trade real money, in real time, in front of real people. No hocus-pocus. This is the Real Deal.
We will actually show you how 2 points a day is achievable if that's your goal.

We are blessed by the fact that we have been given a special dispensaton of grace that allows us to show you what we trade, how we trade it, and then publish the results.
I know what you're thinking... you aren't supposed to do that...
The Emini Gods are gonna be ticked.
I say "Toto, snatch back the curtain and show us ALL what's really going on."

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