Mar
1
| Dear Traders,Have you ever wondered why some traders win almost all their trades?I am sure that you have all heard the expression those that fail to plan… plan to fail.For the last 11 years we have been watching the market, interviewing professional traders and building software to help traders get the best advantage that they can.What I have learned is that many people still don’t plan their trades very well. Properly planning your trades in advance can eliminate a lot of the emotional decisions traders make and greatly increases the likelihood of success.Last year we opened up our Research Lab to the public and inside we have what we call the Platinum Trade Plans. No, we are not trading Platinum… it is just the highest level of service that we offer.
The Trade Plans are swing trades that are set up with entry prices, a stop-loss price, break-even points and 3 price targets to help you “scale out” of a winning trade. Here are a few examples of recent trades. IPXL was probably the most impressive with a huge move on last Thursday that surpassed Target 3. The Entry and Target 3 are shown on the chart below.
WTNY hit target 3 on last Wednesday as shown on the chart and was closed right near the high…how sweet is that?
CSE only managed to hit Target 2, then retraced back to the Break even stop at the entry.
We still have one Open Trade, TLAB, which has hit Target 1 and is actually in a pretty good spot going forward.
The Entry and Target 1 are indicated on the chart above, along with the Break even Stop. Here is a look at the closed trades from February and I must say… it was a good month.
We have added a few more trade plans to the list for this month and as always we have the stock scanners running every morning as the market opens. If you would like to see what the Research Lab is all about… Click here to get a trial subscription for just $20.10 Until next time… Best Wishes and Happy Trading!
Doug Newberry
Investing Systems Inc.
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