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Market Content October 7, 2009Today was another great day of profits for the School of Trade! With a minimum account size of $4,000,we were able to generate a +20% return for our members today. Overall we took 6 trades total andwent 5 for 6 with a total profit of +$880.00, trading with 4 Contracts. Let
’s
review those great trades
….
 Our first trade of the morning came on the Euro futures (Symbol 6E), which stayed in a tight range todayof 1.4735 to 1.4650, but that
didn’t
stop us from taking a quality set-up(Euro Currency Futures DayTrading Video). An increase in volume entered the market with currency trading opening at 8:20am ESTpushing the price of the Euro futures to the downside, and with that we looked to jump on the quicktrend short. At 9:03am EST we entered the market with a short term trend continuation trade with theBreaker pattern at 1.4666. Once our order was executed, we watched as price quickly shot down, due toincreasing selling pressure. We were able to take +4 ticks (2 contracts) from the market, for a total of +8ticks ($100).Our second trade of the morning came on the Gold futures (Symbol GC). After yesterday
’s record
breaking day in the gold market (trading at all time high
’s intra
-day) the trend upwards didn
’t stop
today, and has continued to trade as high as 1049.7 intraday. Once the open of the U.S equities tradingoccurred though, the Gold market quickly made a sharp trend reversal short off the 1045 price level,giving us a great opportunity for a short term trend change trade to the short side(Gold Futures DayTrading Video). With the new trend down, we were quickly able to enter the market at 9:46am EST with
 
a basis of 1041.6; enabling us to scalp off a few ticks before our ATM strategy closed the trade for us.We closed with +4 ticks (2 contracts) for a total of +8 ticks on the trade ($80).As soon as we closed our first Gold trade, we looked to enter in the opposite direction, with sellingpressure seeming to hit a wall and buyers starting to step back into the market, we looked for yetanother trend reversal trade. This time we looked for our trade in the overall daily trend to the longside. We entered the market long at 9:49am EST with a basis of 1040.7. Because of the way our ATMstrategies are set-up, our 2-step pattern (trend reversal) is set to automatically take profit off at +3 ticks(2 contacts), which is exactly what we did, for a total of +6 ticks on the trade ($60)(Scalping Futures DayTrading Video).
 
 Our fourth trade of the day came on the Crude Oil futures (Symbol CL). With the Crude Oil inventoriesfigure being released today at 10:30am EST we were very selective when trading the Crude Oil marketthis morning, and waited till the inventories figure had been released before we entered that market(Identify Market Sentiment For Day Trading Futures). Today
’s price action was really focused
around the$71/barrel range until the news was released on its inventories and then price finally broke to thedownside shortly before price took off once again to the long side, which is where we looked tocapitalize on. At 10:51am EST we entered long with our trend continuation trade, the Breaker. With abasis of 70.56 we quickly realized that a strong level of buyers has entered the market as well, giving usthe opportunity to take profits at +4 ticks (2 contracts), +8 ticks and then our final contact netting us anextra profit of +14 ticks for a total of +30 ticks on the trade ($300)!
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