Our Live Day Trading Webinar - A Complete Disaster?
Today we conducted a Live Day Trading Webinar. It was really exciting: We received more than 900 registrations for this event.
The agenda was simple: In the first 30 min I presented our Simple Day Trading Strategy and at 9:30am EST, when the markets opened, I would use this strategy to trade several markets live. Sounds like a great plan.ÂÂ
But before the webinar I was a little bit worried:
If I achieved excellent trading results, then most of the participants would wrongly assume that day trading is easy and jump right into it. It's human nature! If I would make $1,000 in the first 30min of trading, then it would have been difficult to teach aspiring traders that trading is a profession and needs to be taken very seriously.
On the other hand, if I would achieve poor results then aspiring traders might have been discouraged.
It would be great if I could achieve "decent" trading results, e.g. three winning trades and two losing trades. But hey, I can try as hard as I want; I won't be able to change the markets. As a trader I have to react to the markets and be contend with whatever the markets want to give me.
And the markets were great this morning for the webinar: During the first 30 minutes of the trading day, we had some clear market entries and experienced a few losing trades. But then we quickly bounced back and ended our two hour trading session with more than $900 in simulated profits. This was just perfect: I could demonstrate how critical it is to trade this Simple Day Trading Strategy (or any trading strategy for that matter) consistently and without emotion in order to achieve the best results.
Consistency is extremely important when it comes to trading. You can't let emotions dictate your trading. You need to follow your plan with discipline, even if you experienced a few losses in a row.
If you would like to see us trading this strategy LIVE, then join us in our Live Day Trading Room and watch over our shoulder.ÂÂ
And if you missed this webinar and would like to watch the recording, then simply click on the link below:
http://genesis.na3.acrobat.com/p61159322/
Sit back, relax and when you're done watching the show, let me know what you think.
I think this webinar was a huge success!
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An unbiased review
Having no connection to Rockwell Trading, I offer the following review of the live day trading webinar for the "Simple Day Trading Strategy":
I liked it. I am not saying this is the only effective strategy for day trading, but it fulfills the technical requirements. I do not agree that the best trending hours are the first 2 hrs of the session, however, my main focus has been the emini S&P500, and not multiple markets. It is probably true that trading multiple markets can provide an edge, but it can also cost you a lot dough unless you have a locked trading strategy, not in a testing phase. Perhaps the best advice given for not losing money was the seemingly casual comment at the end of webinar about forex. I was impressed that Rockwell Trading admits to the disadvantages of the forex market. Having said that, so much money is still changing hands in the forex market with newbies, that magazines and otherwise good resources are slow to admit the sham that forex really is. When Markus says he doesn't like trading forex, believe him! You could pay him $5000 for that single gem, and he would be doing you a favour. One could ask,if that is the case, why is a forex chart in the upper left hand corner of the webinar screen at all? Well, interestingly, that is exactly where the losing trades occurred! A day will come when off-exchange spot forex will properly be considered gambling at best, and not worthy of inclusion in the subject of serious day trading.
visit: www.tradingwellandliving.blogspot.com
Forex seems ok
Another perspective on the Forex stuff is that something like half of the winning trades in the trading room have come from the EUR-USD forex cross, because it trends so much. I'm a little bit envious, actually, because my account isn't big enough to trade multiple markets yet. But anyone who watches the EUR-USD every day can see that there are lots and lots of little trends there (much more than in the Emini S&P and Dow, IMHO).