http://scottpluschau.blogspot.com
Weekend Update: I've been getting some emails with requests for updates or chart analysis in various contracts. There hasn't been much to write about. There has been zero chance for me to swing or position trade and I cannot put together a "Heads Up" on short term day trading. Putting up a post "after the fact" is old news.
There are a few contracts that are developing nicely, with exactly what I want to see in the "Auction Profiles", "COT reports", and changes to "Open Interest". One particular "foreign currency" futures contract I am fairly certain I will put on an intermediate term trade when the signal is given in "Price" and "Volume" in order to strike with conviction and peace of mind due to the "positive expectancy" of the trade setup. But trading early in anticipation of an initiative move or breakout is a good way to lose money in my book. There is no edge trading a system with a "negative expectancy".
I also think there will be terrific opportunities to swing trade Treasury Bonds, Gold, Silver, and the Dollar Index in the near future. Preparation is in order.
I missed the recent Bull Run in the Dollar and Treasury Bonds. But missing a move is nothing compared to breaking rules, trading randomly, and vaporizing capital.
I may do a post tomorrow with some charts and details of the latest developments. It is Father's Day weekend in America so it is doubtful I can find the time.
The markets are very volatile obviously, and I am extremely focused on day trading. There may be no further writing on the blog until next weekend. But usually when I say that, something happens that warrants a post. We shall see.
One direction I am leaning in is rather than do a brief blog post on specific futures contracts, would be to do a report, including the entry signals in advance, exit strategy for risk management, along with the calculations for position sizing and money management on a mythical/hypothetical position trade model portfolio. And from there keep the track record of the performance of this portfolio. This may not be "free" content. Those who get the report will also get the follow up on "Trade Management" with any new developments for trailings stops, adjusting limits, and further signals to add to the trade on continuation patterns. The purpose of this report will be for educational purposes and not as a recommendation to buy or sell. The past performance of any trading methodology is not necessarily indicative of future performance and the risk of trading futures can be substantial.
Lastly the blog has reached over 100,000 hits since I started to regularly post in December of 2011. There is no way I would ever have gotten as many readers if it was not for a few people that deserve mention. Most importantly Ed Steer of Casey Research's "Ed Steers Gold and Silver Daily", and Chuck Butler of Everbank World Markets "Daily Pfennig".
Others who deserve mention and I am extremely appreciative of are Chris Mullin of "Silverseek" and "Goldseek", Taki Tsaklanos of "GoldSilverWorlds" and Ryan McGuire of "Gold Avalanche".
Thank you gentleman.
And finally I have to give a special thank you to Dave Fry at "ETFDigest". If it wasn't for Dave I doubt I would have ever started writing. Not only did he give me a shot to write for him, he has always given me the greatest advice about this business and for that I am forever grateful. Dave's ETF model portfolios are the inspiration for me to start one with the futures.
Scott
