Mentor Mike’s Trading Room Update: 04-09-13

Mentor Mike’s Trading Room Update: 04-09-13

We got off to a rocky start last month.  But, slowly and surely we have polished our process to the point where we are starting to achieve the simplicity of method and consistency of results we all want.  Check out the screen-capture of today’s trades below.

We use the alignment of our RED, WHITE & BLUE moving averages to find the HI and LO daily turning points as the price oscillates above and below our “trending defning MA.”  Then we, “Go for the Gold” when the signals tell us.

Once in the trade, we use our “peeling off” money management strategy to take profit whether we get a short ride or a long one.  Today we got two nice long ones and hit all three targets both times.

At the end of trading, we exit the Trading Room, take a short break, then reconvene in the Education Room.  There, we replay the day’s market movement.  If there were any losing trades, we discuss how they might have been filtered out and avoided.  If we agree the signals looked good, but the market failed to cooperate, we talk about the best damage control tactic – typically exit or reversal – and how and when to apply it.  With winning trades we look for the “sweet spot” that combines an agressive, “fortune favors the brave” entry while minimizing the ‘sweating time” before we hit the first target.  Our goal is to constantly move our actual trading into closer alignment with the optimal possibilities.  Today we were pretty close.

I recently asked my students for some constructive feedback.  Here is what Robert J. from Colorado had to say:

“1.  The new program (Training Videos and Trading Room combination) is a HUGE improvement over the old training program  Thank you!

2.  It is great to be able to ask you questions and hear your thoughts in real time throughout the day.

3.  It was helpful in your old video blog to hear your reasoning on why you would take various trades.  It is far more helpful in the trading room to also hear your alternative thoughts and to  hear why you are  not taking certain trades (and to get a more in-depth insight into your thought process as the day goes on).

4.  I continue to learn interesting tips from you, like what it means when price exits the Regression Channel, but the indicators haven’t reversed, and  how you select your inputs for MACD and Stochastics based on the Moving Averages (I’d always wondered how you selected those numbers).

5.  The new training videos are very good, and to the point. Recording them once and making them available “on demand” seems like a much better use of your time (and more convenient for us).

6.  I agree with your initial concept of having only your students in the trading room – It is far more convenient/comfortable to be able to discuss any  topic as it comes up through the day, without any restrictions.


Our 6-month Video Course/Trading Room/Education Room package delivers over 650 hours of training and trading.  As you read above, in the future we may restrict participation in the Trading Room to new students only, but for now it is still open to the general public.  Get a one-week preview in both the Trading Room and Education Room for only $9.97.

Today’s Chart

Here is a screen capture of today’s chart showing the actual trades taken live in the Trading Room.  Can you see our special custom-made MACD’s “Go for the Gold” entry signals?  Please click on the chart below to make it larger. Chart #1

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