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.

Bought Puts - Options Trade Aussie Gold Stock

In today's trading room, we identified a short term trade on an Aussie gold stock. A bearish price bar with lots of volume and bearish indicators on the daily chart. Options volume was also good, so the choice was easy to buy puts on the stock with a planned exit in the next 1 to 3 days.

Our mentor Johnny Howell generously gave an extra 45 minutes of his time to explain drawing of long term trend lines using parallel lines on weekly charts. It's so amazing to see past trend lines come into significance on Today's charts.

The Trading Room Technical Analysis techniques are like a crystal ball in my opinion. If you're serious about trading for a living, you must check out the trading room!

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!