March 2006 mini Workshop Chart

Well the best we could do yesterday was power trades...we never had the magic numbers, but we kept the trades to a minimum risk of only 1/2 to 1 point.

Check out the chart: http://www.simple-as-123.net/charts/3-27-06Workshop.png

The Open Gap Strategy was to small to trade...but I wanted you to notice, if we have a gap down it has a tendency to continue down for a few minutes at the open; most of the time. The bigger the gap the more it seems to move.

The Gap Strategy...where we look for the gap to get filled does not require a size...but I do like the gap to be about 3 or 4 points.

On a gap down the strategy calls for the high of the first 10-minutes as a target for your entry...look for white candles across the board.(the Dow and Comp). We managed a point out of that trade this morning.

The next thing we looked at was the 30-Minute Breakdown at 10:55 ET...it ended up being a small 1/4 point loss, it just took to long, and it looked like the market was just going to stall.

We had two nice W formations as you can see on the chart today...and the number 4 point of the W had developed a blip...that is a big clue we were going to get the reverse. We talked about taking the trade the second time through the number 3 point because we had no muscle (no magic numbers)...and we did get 1 full point out of that strategy.

The second W was a beautiful W, but it was to close the FOMC meeting and we decided we would just pass on that trade. But it was a beautiful perfect W.

How To Do The Impossible

You can do just about anything if you make up your mind too. How much you actually achieve depends largely on"
1. Desire
2. Knowledge
3. Persistent effort
4. Ability
If you are lacking the first three factors, your ability will not balance out the lack. So concentrate on the first three and the results will amaze you.

Your thoughts about the workshop, criticisms, good, bad or indifferent would be helpful. The room will be open tomorrow, use the same password: bingo

The next workshop will be on Wednesday, same time set up but you will receive a different password Tuesday evening.

Marsh