Live Trading System Suits all kinds of traders

I think in this blog I've mainly mentioned that we trade options in the Planet Wealth trading room. It's true that when the trading system we use identifies an entry signal, Johnny Howell uses The Bourse software to view the options series. Then together, we're able to look at the options volume, Open Interest, etc and pick the best option for the trade. Of course the option we pick will depend on the price target and time frame of the trade. Personally, if the trading system is predicting a one-day move, I pick an in the money option with a delta close to 1. If, on the other hand, we are looking at a large price movement over the long term, I might trade a riskier far out of the money option.

I should make a point though, that Johnny Howell's trading system suits more than just options trading. You can buy/sell the actual underlying stock - or you could use CFDs.

I'm actually looking into setting up my account for CFDs as I write. I like the idea of trading in smaller amounts. In the Australian market, 1 options contract is usually over 1000 shares. That means to trade options, you usually have to trade around $4000 to make any profit after brokerage. CFDs on the other hand can be traded with as little as $100 per trade. So, I feel more comfortable trading in smaller amounts - especially given the current market volatility.

Anyway, I guess the point of this post is... if you like the idea of the trading room, but you don't want to trade Options, then you don't have to. Trade any way you like. Johnny's trading systems work. You only have to look at the testimonials on the Trading Room page to see that!

Intraday Entry and Exits Signals

In today's trading room, Johnny spend the first 30 minutes going into detail about how to enter and exit an intra-day trade based on peaks and troughs, with the added help of Fibonacci Levels.

We start out with a 60 minute chart to identify peaks and troughs... then move to the 10 minute chart to time the entry.

In these types of setups, Johnny Howell usually has a profit target of 20% for the day. It's really exciting to think that if you have $10,000 on a trade - a 20% profit in a few hours is possible!

Even a 10% move makes for good money on a $10,000 account in a few hours! Absolutely.

When you trade with Johnny in the trading room, he shows you how to stack probability on your side. It's important to stack the odds in your favour before trading... especially before trading intra day.

If you want to learn more about intra day options trading on the ASX, the Planet Wealth trading room is exactly what you need.

LGL is still going down!

I'm pleased to confirm that my analysis from Thursday, July 31, 2008 was correct! Actually I'm stoked. Even though I didn't get on a trade. I'm just so excited that the professional trading techniques I've learned in the pro trading room are actually becoming easier for me to understand and implement!

Technical analysis is about reading the charts. It gives a clear picture of where a stock is going, based on it's past footprints.

Example Options Trade WOW - ASX Woolworths Bought Puts

Just an example of the type of trades we place in the Planet Wealth Trading Room.

Disclaimer: This is NOT a recommendation in shape or form. I am not a financial guru!

Entry Signal 22nd July 2008 - Bought WOW $20 December 2008 Puts

Reasons for Entry:

• Head & SHoulders formation on weekly chart
• Proprietary indicators we use in the trading room are bearish
• 22nd saw a bounce of a significant area of resistance (= also daily H&S neckline)

This is a longer term trade.

When you come into the trading room, you will learn all the indicators our mentor uses to create winning trades. And most importantly you will learn when the enter and when to EXIT a trade such as this one.

The room teaches trading through technical chart analysis. Usually Johnny Howell (room leader) trades options (puts/calls) but you could use the entry/exit signals for any form of trading. For example:

• straight options - buy/sell puts and calls
  
• option spreads & strangles
  
• CFDs
• buy & hold stock
• basically any form of trade

If you're interested in learning from the best, the best way to see for yourself is to check out the "intro video" here. Johnny Howell's Trading Room Intro Video at Planet Wealth

Learn from my trading mentor

I'm starting this Blog to chronicle my journey on the road to become a professional trader on the ASX. As a newbie trader, I lost half of my trading funds on the ASX (Australian Stock Exchange) during the market collapse of 2007/2008. Sadly, these were borrowed funds on a Home Line of Credit! I'm now paying 10.5% interest on this loss.
Since then I've been searching for a system I could to trade for a living... and I'm finally in the right place.
With the help of an amazing mentor by the name of Johnny Howell, I'm learning how to trade like a PRO.
Along with a few others, I am part of a "trading room" run by John Howell. He teaches us entry and exit signals and coaches us in psychology and mindset. Since joining the room, I have been in PROFIT! Yay.
I'll be posting results from the room shortly... while you wait, check out the room for yourself. If you desire to become a professional trader on the ASX, you won't be disappointed.

Planet Wealth Trading Room with Johnny Howell shows you how to trade like a pro!