Intraday Trading 50 Percent Profit in One Hour

In my last post I told you about Johnny Howell's awesome teaching on intraday entries and exits. He actually prepared us for an intra-day entry signal on BXB - we were waiting for it to form today. And form it did. One of the guys in the trading room actually got in and out in just one hour... and made a 50% profit!! I gotta say I wish it was me. He got right in at the bottom of a trough and out as the price rose... bought calls obviously. I'm in a trade right now - I didn't get in as early as the other guy - wanted to wait for the trough to form "more fully" (for want of better words). Anyway, lets see how we go with it. I would not have the foggiest idea out to do this if it wasn't for the Planet Wealth trading room - trading options on the ASX using technical analysis - and Johnny Howell.

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.

AMP Breakaway Gap

Friday's trading room... identified a Potential Breakaway Gap on Australia's AMP stock. The room is buying Puts.

• Breakaway Gaps source: Stockcharts.com
  
• Breakaway gaps are the exciting ones. They occur when the price action is breaking out of their trading range or congestion area. To understand gaps, one has to understand the nature of congestion areas in the market. A congestion area is just a price range in which the market has traded for some period of time, usually a few weeks or so. The area near the top of the congestion area is usually resistance when approached from below. Likewise, the area near the bottom of the congestion area is support when approached from above. To break out of these areas requires market enthusiasm and, either, many more buyers than sellers for upside breakouts or more sellers than buyers for downside breakouts.

I personally am choosing to stay out of this trade because I'm not confident that AMP has broken down through resistance yet. The resistance line is not definite (to me) - it's quite wide, so IMO could rebound a bit... as it's doing today. I will re-assess this trade during this week. If it breaks down more with good volume, them I may enter with bought puts.

Note to self: this post is created with ScribeFire... first one like this... just trying it out.

ASX LGL Technical Analysis Trend Lines

Please note I am not a financial expert & anything you see on this blog should not be taken as financial advice! In the trading room yesterday, John taught us how to draw long term trend lines using parallel lines... and how past trendlines become valid in the current market. Using the techniques I learnt just yesterday, I was able to come up with the following bearish view of LGL. There was an LGL entry signal yesterday, I couldn't get in the trade coz my baby woke up right as the market was closing! So, entry signal was yesterday, but I think today's volume is good for entry too. Here's what I've come up with...



Weekly is looking very bearish, breaking past the parallel lines trending resistance... H&S... methinks ripe for a long term trade which I'll be considering today.

I'm factoring in the possibility that there could be a bit more upside to form a bigger right shoulder, but it's still going down IMO!

If you want to learn some of these "crystal ball" technical analysis techniques for yourself, then you can't do better than to check out the amazing Planet Wealth Trading Room. It goes for just an hour a day and you can join up to live sessions or just get the pre-recorded sessions like I do.

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!

FREE PDF On Trading Entry Signals - Bullish Up and Bearish Down Days

Prior to joining the trading room, I would spend ALL day examining the charts for my watchlist... painfully looking for a trading opportunity. I wasted so much time! Then, on just my first session in the trading room, I discovered how to identify potential trading opportunities in a matter of seconds... it's all to do with the day's "price bar".

Basically, what I've learned from John in the trading room is that you need to identify the day as either "bullish up" or "bearish down" or "rubbish day". If it's an up or down day, then you should spend time checking indicators etc. (stuff you learn in the room). If it's a "rubbish day", then the magic word is "NEXT" and you don't need to waste any more time on that stock.

THIS SAVES ME HOURS AND HOURS EVERY DAY!

To help you get the gist of what I'm talking about, check out this PDF written by John Howell - my trading room mentor. NOTE: If you get an Adobe Acrobat error when clicking this link to open... you can work around it by just right-clicking to save the file to your computer and then open it from there... here is the free PDF Trading Room Price Bar Entry Signals. Enjoy.