25% Profit In Under 24 Hours with Simple Trading System

In the last hour of trade on Thursday afternoon, the trading room identified a bearish trade on Newcrest Mining - NCM on the Australian Stock Exchange. With the market being so extremely volatile in the last few weeks/months, it was imperative that traders in the room were stacking the odds on our side when entering this trade. Using the technical analysis trading system we are taught by our mentor Johnny Howell, we identified the following factors in our favor:

1. Short term trend line broken on the daily chart
2. Trading Room Proprietary indicators all bearish.
3. Bearish Down Day - (if you don't understand what this is, you can learn the entire concept in the free home study that you get when you sign up for the trading room).
4. Increase in volume.
5. RSI pointing down
6. Other momentum indicators bearish.
7. Peaks and troughs bearish.
8. and there were actually even more indicators stacked in our favor for a bearish day on Friday.

Obviously, I don't want to go into too much detail here, because I think it's dangerous for me to equip you with information if you're not truly understanding what's going on.

If you really want to get your head around this stuff, you should get your butt into the trading room ASAP. Winning trades such as this week's NCM trade are identified on a regular basis. Sure - some of the picks are losers, but we are taught to cut our losses short, which means overall traders in the room are running at a nice profit.

Anyway, on Friday we were pleased to see NCM do exactly as the system had predicted. The trading room system had yet again picked a winner! Depending on the instrument used for this trade, most traders in the room achieved a profit of 20% to 25% on this trade by noon on Friday. Of course, the profit varies depending on whether traders traded options, CFDs or stock. For me personally, I love that the ONE trading room system can be used to trade in these MANY different ways on the ASX.

I'm sure you'd agree that the Planet Wealth Trading Room's Success is an AMAZING accomplishment in these current market conditions!

Day trading case scenarios - buy and sell signals

I've just finished listening to yet another awesome pre-recorded day trading session with John Howell in the Planet Wealth trading room. As you read in a previous post, we've been studying day-trades and the best entry and exit points based on peaks, troughs, moving averages and support/resistance/trend lines.

Today John added to the teaching by introducing us to the concept of "Case Scenarios". I guess we can get caught up, trying to fit each trade into a step-by-step mould. But, it's not really that simple. Johnny stressed that each trade is different - and so must be analyzed and executed differently. For each and every trade, a good trader must construct a separate case scenario:

* What is happening right now.
* What is the technical entry.
* What is the technical exit (where are you placing stops).

If you, like me, are just starting out day-trading, then don't expect your next trade to execute the same as the last. It will be different. Construct a case scenario for your trade and be prepared to exit at any time. As the old cliche goes: "plan your trade and trade your plan". Keep your eyes open... and don't leave the screen!