Daily Market Commentary
I hope everyone who celebrates Easter is having a nice holiday weekend so far. I know some readers are in other countries who have their own holidays. The world is obsessed seemingly with one market more than any other, the E Mini S&P 500. I think there are several reasons why. First, there is a perception th
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My name is Chris Johnston and welcome to my trading website. As you can see from the table above, I make money trading. This table was my entry in the Robbins World Cup from 2011. You can see in the notes underneath, I entered this contest in the middle of the year. I was able to achieve this return in just 6 months, while most of my competitors had a full year. I also entered this same contest in 2007, trading only the signals from the Bond Trading System featured in this site, and finished in 3rd place with a 62% gain. I did not enter the contest in the years in between 2007 and 2011. I enter this contest every so often, to prove that my trading in the futures markets is profitable. Where better to do that than in a public trading contest with real money at stake?
Like so many others when they just begin something, I had no idea what to do, how to make the decisions, what methods to use and so on. I started buying books and reading just about everything I could about how to trade profitably. There were so many different ideas about how to go about this, and many of them seemed to make sense. Without knowing any better, I just started trying some of them out with real trades and small bets. I tried moving average crossovers, stochastic and relative strength divergences. I tried just about every chart pattern I could read about or envision myself. I studied and tried to trade Elliott Waves. This is a fascinating theory, but like so many of the approaches I read about, it just does not work in real time. Just like most people, I struggled to get anywhere with all of the different approaches I tried. I never really lost much, but also never really made much. It was just a see saw affair, but I loved it nonetheless. It was the ultimate challenge.
Throughout the process of trying all of the various things I read about, I began to get a sense that I really needed to narrow my focus. Just trying one idea one week and another the next, was not going to get me anywhere in this or any other endeavor. It was at that point I decided I needed to use my discipline to my advantage. Establishing a structure to work from along with specific rules for trade entries was going to be the best way for me to establish consistency.
My approach to trading is ever evolving as yours should be. The markets are not static, and there are no easy ways to make millions of dollars, in spite of what many people advertise. I do use indicators at times that are creations of others, but most of my tools are proprietary to me. There are always better ways of doing things. There will always be innovations in all walks of life, and trading is no different. I am constantly researching new ideas as to how to augment what I already do. As a subscriber to my services, you will have access to my research and the tools I use to trade with. My advantage in this business is my experience and discipline. I have graduated from the school of hard knocks. Knowing what not to do is often more important that knowing what to do. This is especially true in trading futures.
Do your charts look like this one below?
There is a saying that if you draw enough lines on a chart something will happen at one of them. This is an example of this old adage. You have to ask yourself if there is really a good prospect for making consistent decisions looking at something like this every day? It is my view that this type of approach is never going to work. If this is how your charts look you have come to the right place. I will help you clean things up and get you focused on the correct tools and approaches to use to trade profitably.