Mentor Mike’s Trades for Wednesday, 5/7/14

Mentor Mike’s Trades for Wednesday, 5/7/14

Fellow Traders:

Since Stochastics are plotted on a closed scale and MACD on an open scale, some of you may have had problems reading their signals when I combine them in the same chart panel.  Accordingly, I have created a new trio of templates that delete the Stochastics and use only the MACD with the addition of a Parabolic SAR.  The MACD oscillates around its center line as the price oscillates around the white directional MA.  The templates are featured on today’s screen captures.  Let me know if you would like to give them a try.  To give the new templates an adequate test, I traded them all day on both my personal and demo computers.  On my live account I went 11 for 11 and a net of $2,881.  On the demo platform, I got a few slightly better fills and went 10 for 10 and a net of $3,122.50.  See you all in the Trading Room tomorrow.

Today’s Charts

Here are today’s screen captures.  They may include my personal chart, the TRADING ROOM demo platform, charts submitted by students and/or my running intraday Elliott Wave count in the S&P Emini.  Please click on a chart to make it larger.  Chart #1

Chart #2

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