Reality Trading, Don Miller Style – Part 2

Yet exact press time won’t affect the fact that the major indices have spent
much of the week remaining in stranglehold downtrends on most key timeframes
with the daily playing lead dog — pun intended.  The surest trend trades over
the course of the past week have undoubtedly been fading the intraday extremes
or using the hourly and/or 13 as a confirming intraday trend, yet contra-trend
opportunities have also been very viable given the increase in volatility and
trend extensions.  Call it an equal opportunity trading market.

On a micro basis, the tape has continued to feel extremely weak most of the time
with pops lasting little longer than a toy pop-gun — you know, the kind with
the cork on a string — as bids are often pulled faster than a May Red Sox
division lead.  Can you say “overhead supply”?

Last week, I mentioned that we were breaking some new and rather hallowed ground
in the trading world by providing folks an opportunity to take an extended 3-day
peek at the moment-by-moment actions taken within a successful futures trading
business.  As I mentioned then, the intent was to use rarely-seen reality to
further the development of traders and that I’d be donating a portion of any
proceeds received at this end to charity.  I greatly appreciate — and am
humbled by –the early response and wanted to let you know that the
recordings are currently in production … and that we’re going to take it
one step further. 

You see I’ve always greatly enjoyed discussing the markets and sharing my
experiences — to both developing and seasoned traders alike — yet despite
continual requests at your end, it’s often been extremely difficult given the
fact that my main focus, thrust, and energies is on my trading business.  Call
it a lesson I’ve learned in the past.  If I didn’t trade for a living, it would
of course be a different story, but such is the main reason this column migrated
to weekly a few years ago.

Anyway, I’m excited to announce that we’ve decided to launch an “inner circle”
E-Mini trading program for those interested, where we can communicate with each
other for a full year via a series of weekly internet conferences, message
boards, and the like.  We’ll talk about everything from challenges you and/or I
faced over the week, to specific setups that we took or didn’t take.  And the
intent of the effort remains the same as always … to further the development of
all interested traders; in this case, those interested in being part of a
highly professional group designed to bring out the best in each other.  I
suppose you could call it a group virtual mentor effort. 

And the recordings?  They’ll be included.  As for the price, that might be the
best news ever, as the cost has been set far below seminars and individual
mentor programs.  Again, my main thrust is on trading …not selling.

Yet so this column doesn’t turn into a huge commercial — and I apologize if
it sounds that way as I rarely use this space to do so — you can simply

click here for more info.  Next week, we’ll get back to normal chatter.