05/04/07 We took our first entry SHORT from ES at 1515.75 and rode it down to 1512.25 for a 3.5 point, $175 per contract profit.  We then took that exact exit and reverse BOUGHT on the ER2 contract at 833.2, riding it all the way up to 835 for a 1.8 point, $180 per contract gain (ER chart below).  ALSO - Notice the chat dialog that took place during this fun ride.

CHAT ROOM DISCUSSION DURING THESE 2 TRADES

Daniel says (09:25):channel bounce potential ES 1516
Daniel says (09:29): now lets see if it holds
Daniel says (09:31): Yehaw!!
Daniel says (09:31): free trade
Daniel says (09:33): Target for this move is 1512 ES, 13286 YM, 832.7 ER2 - 70% success rate
Daniel says (09:45): potential chop for 5 mins till target hit
Daniel says (10:06: chop chop
Daniel says (10:16):When ES hits 1512, all other moves are technically over
Daniel says (10:27): BING
Daniel says (10:27): YEHAW!!!
Daniel says (10:27): OVER BABY...within 1/4 point
Daniel says (10:27): Done, completed !!

huntrbrook says to  (10:29): I think it's great!  Do you primarily trade the ES?
Daniel says (10:29): no, I normally take the ER trade off of the ES trigger
Daniel says (10:29): bigger bang for my buck
huntrbrook says to  (10:30): do you mean off on an ES setup as a trigger, or just monitoring the general movement of the ES and other indices?
Daniel says (10:31): When ES and SPX hit certain trigger areas, I look for ER2 to respond with it - and I trade the ER2.  Then when ES and SPX hit their trigger points - I exit my ER2 position.
Daniel says (10:32): That's just me.  I personally believe that "in the bigger picture" the market moves with ES and SPX...but they're such sluggish dogs...I like to ride the wild stallion ER2...
huntrbrook says to  (10:33): ER is scary to me!
M1 says to  (10:33): me too!!!
Daniel says (10:33): that's because you've never ridden a bareback stallion
Daniel says (10:33): or rode it and got kicked off....lol
M1 says to  (10:34): does a workhorse count?
huntrbrook says to  (10:34): lokl
lawebster says to  (10:34): daniel scares me!!!
Daniel says (10:35): I used to be scared of it too
Daniel says (10:35): YM is a work horse... faithful and sure
Daniel says (10:35): won't get too excited
Daniel says (10:36): If ES and SPX hit their target, the wild stallion has potential of totally overshooting it's target... for an extra couple of points
huntrbrook says to  (10:36): hmmm
Daniel says (10:43): ES isn't even half way to it's target and ER2 is almost there already...
Daniel says (10:44): that's why you hear me say YEHAW! I'm riding the stallion!!!
huntrbrook says to  (10:42): LOL!!!
Jeff says (10:42): easy cowboy
Daniel says (10:47): 2 ticks to ER completion
Daniel says (10:47): come on baby...just one more hill to climb...
Daniel says (10:47): 835 please
Daniel says (10:48): YM and ER within 1 tick of completion.... ES giving one more opp for the elevator ride....lol
Daniel says (10:49): Sorry, YM hit target
Daniel says (10:53): ER hit target 835...I'm out
Daniel says (10:55): I'm done for day...can't take any more ridin...
Daniel says (10:55): YEHAW!
huntrbrook says to  (10:56): congrats!

Please take a second look at the entries.  You just can't get too much closer to the beginning of a move.  Our mentoring sessions will show you how this is done day after day. 

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Risk Disclosure: The risk of loss in trading commodity futures, options or other margined financial instruments can be substantial.  Before trading, you should carefully consider your financial position to determine if futures trading is appropriate for you. When trading futures and/or options, it is possible to lose more than the full value of your account. All funds committed should be risk capital.  Past performance is not necessarily indicative of future results.  All information contained herein is considered as “educational only” in nature, and is in no way determined to be an offer to buy or sell, nor is it an attempt to solicit any type of trading, trading instruments, trading styles or trading systems.  Dr. Daniel Daves and Basics For Success are not licensed brokers or financial advisors.  Also, trades shown in these examples may or may not have been personally entered by Dr. Daves.  As a mentor, he points out multiple trades for multiple instruments, and does benefit from many of them. However, posting these trades is not a statement that Dr. Daves or Basics For Success is currently, or were previously in these positions.  The system that Dr. Daves educates students in, will point out trades such as these - over and over again in all markets and all time frames, whether or not you actually take the trade or not.  If you access and use this educational information, you accept and agree to this full Disclaimer before using this educational information. Changes may be made to the Disclaimer at any time without notice.   The information contained herein is not to be construed as an offer to sell or the solicitation of an offer to buy any commodities described herein.   Persons acting on any information contained in this educational project are responsible for their own actions.