Wednesday, January 06, 2010

Prepare Your Day for Victory / Emini Futures Trading - Wednesday December 6th, 2009

(QQQQ)(DIA)(SPY)(GLD)(SLV)

"In the morning, O Lord, you hear my voice; in the morning I lay my requests before you and wait in expectation"
(Psalm 5:3, NIV)
 My voice You shall hear in the morning: David made it a point to pray in the morning. He did this because he wanted to honor God at the beginning of his day, and set the tone for an entire day dedicated unto God.
Hudson Taylor, the famous missionary to China, had trouble finding time alone with God. He began to wake himself up at 2:00 in the morning and using those quiet hours when everyone else slept to commune with God.

“What is a slothful sinner to think of himself, when he reads, concerning the holy name of Jesus, that ‘in the morning, rising up a great while before the day, he went out and departed into a solitary place, and there prayed!’ - Mark 1:35” (Horne)

“This is the fittest time for intercourse with God. An hour in the morning is worth two in the evening. While the dew is on the grass, let grace drop upon the soul.” (Spurgeon)

Friend, you can start your day any way you want. I've decided that from this day forward, before I even get out of bed and risk stubbing my toe, or falling down the stairs...I'm going to do what David did. I'm going to lay my request before the throne, "Oh God, how can I serve you today?" (Listen Now)


As a Man Thinketh by James Allen

Chapter One - Thought and Character

The aphorism, "As a Man Thinketh in his heart so is he," not only embraces the whole of a man's being, but is so comprehensive as to reach out to every condition and circumstance of his life. A man is literally what he thinks, his character being the complete sum of all his thoughts.
As the plant springs from, and could not be without, the seed, so every act of a man springs from the hidden seeds of thought, and could not have appeared without them. This applies equally to those acts called "spontaneous" and "unpremeditated" as to those which are deliberately executed.
Act is the blossom of thought, and joy and suffering are its fruits; thus does a man garner in the sweet and bitter fruitage of his own husbandry. (to be continued)







S&P 500 Emini Futures Trading

Along with our colorful arrows and weekly trading zones, I thought I would spice up tonight's rather bland chart with the price channel we discussed on today's show. Before we get to the channel, notice how price continues to create trading opportunities, (albeit small ones) in and around the 1131/1132 zone.

The third blue arrow points out the trade we discussed on-air today. 2 things came together at once creating in our opinion, a trade entry with low risk and a high probability of at least some profit. Keep in mind we're trading in small ranges so far this year. Price touched the bottom of the zone - 1131 - which had shown strong support twice already during the day session, and the bottom of the price channel. Those 2 things were enough to get me interested but then we print a beautiful doji and our trade has 3 things going for it. Zone Support - Channel Support - Doji   I will trade that setup every time I see it with no hesitation.

Everything I know about candlesticks, I learned from Steve Bigelow. If you want to learn more about candlesticks I highly recommend this book.



And what day would be complete without a peek at Soybeans











Each candle on the above chart = 500 contracts /  hmmm...

As always,
Pray Hard & Trade Safe
CT

1 comment:

  1. Anonymous7:13 AM

    If your readers are interested in more of James Allen's works, they can find his complete collection of inspiring works at www.jamesallenlibrary.com

    ReplyDelete

Your comment will be posted within 1 hour of acceptance by our editorial staff.