Day Trading Rules Based on Socrates Analysis - “The Week that Was” - Socrates analysis for Monday September 26 and the Week
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September 25, 2016
Dear Friends:
RE: Day Trading Rules Based on Socrates Analysis - “The Week that Was” - Socrates Analysis for Monday September 26 and the Week.
Day Trading Rules Based on Socrates Analysis
We did learn many lessons Day Trading and based on those lessons, on Tuesday evening September 20, we sat down and wrote the following Rules:
Rules to Day Trade Futures Based on Socrates (SOC) Analysis
1) Begin each Trading Day by first studying the SOC analysis, its forecasts and signals before considering what instrument to trade;
2) Do NOT trade when the SOC signals are IFFY and choppy or are going sideways for a specific market;
3) Do NOT place an order and hold any positions overnight or over a weekend;
4) Do NOT place orders until after 6:00am PST;
5) Trading dries up after 9:30am PST on Fridays and you need to be Flat by then for the weekend;
6) Make LONG trades ONLY on the basis SOC’s Bullish signals;
7) DO NOT trade on days where SOC cannot foresee future events such as Yellen speaking at an FOMC meeting. SOC only receives historical fact input and therefore, SOC cannot predict future events that may unfold at a future date;
8) It is all about Return on Investment (ROI) and one (1) profitable trade in any Week, any Month or in a Year will ensure you reach your Goal of better than average ROI per annum.
“The Week that Was”
Monday September 26. Although, we should have heeded Rule #2 noted above, we did trade but did so very, very cautiously and continued to do so on the same cautious basis on Tuesday which resulted in some profits for us however, from here on in we will NOT do so again and adhere to our Rule #2.
Wednesday we did not trade at all because of the facts described in our Message #62 noted below which we disseminated to our Paid-for Subscribers as the Markets opened that day and the Day Trading Rules we established on Tuesday evening.
Message #62
Wednesday September 21, 2016
Dear Subscriber, fellow Trader and Speculator:
Just a quick warning note: This morning’s Socrates (SOC) forecasts for the Dow, S&P, Silver and Gold were all very IFFY and on top of that, we have the FED announcement @ 11:00 PST during the time when the Markets are still open this morning.
We decided NOT to Day Trade this morning because, the Markets are very unpredictable right now and thus too dangerous to trade for now. In the event we do Day Trade, we will be very cautious Day Trading for the remainder of September as well.
END
As it turned out the Janet Yellen speech indicated the FED would stay pat and the "Fast Money" traders immediately ramped up the Markets big time to a high in the Dow of 18,307, the S&P 2,165 and the NASDAQ 5,299.
Yes Friends, we did miss a very big move Day Trading but because, we did not know in advance what the Fed would say and neither did SOC (see Rule #7),.
Thursday September 22 the SOC’s analysis for the S&P 500 Day Index Futures was very positive as was the Analysis for Silver and Gold and we decided to Day Trade Long the Comex 5000 Silver Futures and this was very profitable until 10:30am PST after which we called it a day.
During that trading day, we kept an eye on Gold to see how it progressed. The Resistance for Gold was a Bullish Reversal @ 1,343.70 and it did go through that to a High of 1,347.80. The important number we were watching that day was the Bullish Reversal for the Close of 1,336.00 and Gold Closed well above that @ 1,340.70. So, Gold continues to be Bullish.
Friday September 23 and Week’s end, both the Dow Industrials Index Cash and the S&P 500 Day Index Futures SOC signals looked IFFY and as per Rule #2 we did not trade that day.
SOC Analysis for Monday September 26 and the Week
Based on Day Trade Rule #2 we will NOT trade on Monday. The NY Silver COMEX Futures, NY Gold Nearest Futures, Dow Jones Industrials Index Cash and the S&P 500 Day Index Futures are all IFFY for tomorrow.
Although the SOC analysis for the week ahead are positive, we still have to make our Day Trade decisions for each trading day and ONLY after we have completed our studies as per Rule #1.
The SOC analysis for the week is NY Silver COMEX Futures: Turning Back Up; NY Gold Nearest Futures: Turning Back up; Dow Jones Industrials Index Cash: Moving Higher; and S&P 500 Day Index Futures: Temp Low in Place.
SOC also stated today NY Silver COMEX Futures in its Daily Analysis:
“The strongest target in the Daily array is Mon. Sep. 26, 2016 for a turning point ahead. It does appear we have a choppy period starting Mon. 26th until Fri. 30th with each target producing the opposite direction for that 5 day period. We also see a choppy period between Tue. 4th until Wed. 5th with each target producing the opposite direction for that 2 day period. Centering on time using the Array, prospective Daily targets on the Turning Point Model, defined as highs or lows on an intraday or closing basis, are the days of Thu. 22nd, Mon. 26th, Tue. 27th, Wed. 28th, Thu. 29th, Fri. 30th, Tue. 4th and Wed. 5th. Nonetheless, the main targets are, Mon. 26th, Wed. 28th, Fri. 30th and Wed. 5th. Centering on the patterns unfolding, there is a prospect of a decline moving into [???].
For NY Gold Nearest Futures in its Daily Analysis:
The strongest target in the Daily array is Fri. Sep. 30, 2016 for a turning point ahead. We have Daily Directional Change targets due the days of Mon. 26th. Wed. 28th. Fri. 30th. and Tue. 4th. Looking at the Array, the key Daily targets on the Turning Point Model, defined as highs or lows on an intraday or closing basis, are the days of Thu. 22nd, Tue. 27th, Fri. 30th, Tue. 4th, Wed. 5th, Thu. 6th and Fri. 7th. Thu. 22nd with the opposite trend thereafter into Tue. 27th.
For the Dow Jones Industrials Index Cash in its Daily Analysis:
The strongest target in the Daily array is Tue. Oct. 4, 2016 for a turning point ahead. It does appear we have a choppy period starting Mon. 26th until Tue. 27th with each target producing the opposite direction for that 2 day period. We also see a choppy period between Mon. 3rd until Tue. 4th with each target producing the opposite direction for that 2 day period. We have Daily Directional Change targets due the days of Mon. 26th. and Fri. 7th. Looking at the Array, the key Daily targets on the Turning Point Model, defined as highs or lows on an intraday or closing basis, are the days of Thu. 22nd, Mon. 26th, Tue. 27th, Thu. 29th, Mon. 3rd, Tue. 4th and Fri. 7th. Thu. 22nd with the opposite trend thereafter into Mon. 26th.
For the S&P 500 Day Index Futures in its Daily Analysis:
The strongest target in the Daily array is Mon. Sep. 26, 2016 for a turning point ahead. It does appear we have a choppy period starting Fri. 30th until Mon. 3rd with each target producing the opposite direction for that 2 day period. There are Daily Directional Change targets from Thu. 22nd to Fri. 23rd warning of a potential choppy swing period for these few days. The key Daily targets in time in the Array on the Turning Point Model, defined as highs or lows on an intraday or closing basis, are the days of Thu. 22nd, Mon. 26th, Fri. 30th, Mon. 3rd and Thu. 6th. Thu. 22nd with the opposite trend thereafter into Mon. 26th.
If you have a question or wish to discuss Day Trading, e-mail or call me at +1 (604) 657-4058
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Nick L. Nicolaas; Mining Interactive Corp. and its Associates (collectively referred to as NLN) are not registered advisers and do not give investment advice. NLN’s trading comments are an expression of opinion only. NLN may have an investment in some of the companies or trading instruments NLN mentions or writes about, nothing should be construed in any manner whatsoever as a recommendations to buy or sell a stock, option, future, bond, commodity or any other financial instrument at any time. While NLN believes all statements to be true, they always depend on the reliability of NLN’s sources. NLN recommends that you consult a qualified investment adviser, one licensed by the appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions and NLN urges you to confirm the facts on your own regarding any trades or companies NLN mentions before making important investment commitments. The “Trading Based on Martin Armstrong Socrates alerts” and the “Stock and Private Placement” alerts written and distributed by NLN do not, and cannot, constitute a recommendation to buy or sell any security.
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