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S&P500 E-mini daily trade - Feb. 14th

Disclaimer: I am not recommending this trade. This is for informational purposes only.

Daily Trade for February 14
February 14th, 2007

Prior Trade Results:

Gain of $575 per contract

Ending Balance:


Trade for Today:

Long 2 E-mini SP contracts


Steadfastly bullish still on the market. Some of the weaker indicators are turning positive too. For my personal account, I added another contract in anticipation of a run to new highs above 1460. This move on my part just might kill its chances!
How do you know if the model closed the position at the market close the previous day or if it held it overnight? Did you open with 3 contracts today or carry 2 over from last night?
Hey elite trader,

Sorry for the confusion, I should be more clear. Everything in the post is actually from the daily trade blog at the site I told you about. The comments are actually the owner or developer of the model, I assume. From my understanding, he developed a trading model and posts the trade calls that the model makes, but sometimes in his own personal account he may take different or additional trades and they show up in the comments. He always posts the trades the night before for the open of the next day, I just am lazy at night and usually don't check it until the morning.

However, to answer your question, according to the site, the model has been in the same long position with 2 contracts since Feb. 1st. So, even though he posts "Trade for Today" it hasn't changed since Feb. 1st. According to his rules, a trade was entered for 2 contracts at the open of market on Feb. 1st and has not changed since then. However, from his comments, he apparently added 1 additional contract at some point yesterday. This is not part of his model and he wasn't specific about when he added the contract, so I don't know any other details.

I find that it would be a very easy model to follow and trade, since you only enter at most 1 trade per day at the open and have no stops or limits (in this case it has been the same trade since Feb. 1st, so you haven't had to do anything). If it truly gave a 25% return in 2006, then it is also pretty rewarding for such a simple and non-time consuming trading system. That is why I have been posting the daily trades here, to help keep track of how it is doing, just in case anyone else is interested.

I hope that helps explain it a little better. I know I wasn't very clear and I appreciate you asking questions to make my lazy self explain it.
Thanks jshug. That makes it a lot clearer.