Hiatus

Hi guys,

As you all know, I have had a very busy summer and have not traded very much. I have been placing my focus on my practice and have expanded into several new areas. The outcome has been a strong increase in business and a great interest and passion in my medical research and practice.

My split focus on trading and practice these past years has had a major impact on my income, and not for the better. I have had a major drop off from a very successful practice due to my strong interest in and focus on trading. My five years experience in day trading nowhere near compares to my thirty years of experience in medicine. In other words, I am a far better doctor than a trader and thus, my income potential is far greater (at this time) as a physician.

I have decided to stop trading altogether for the time being. I am very excited to see where my one pointed focus leads me. I am letting go of my charting programs and data feeds for now. This doesn't mean that I will not miss trading or will not eventually return. I am not entirely sure how I feel about this or what will be the outcome.

I wanted to write and let you know what is going on. I hope this blog has helped you in your training as a trader. It has been a pleasure serving you and I hope to return someday.

Your friend,

Bryan aka MGTrader

Short of the Value Area High

Hi guys,

It's been a while since I posted a chart. I have been super busy this summer with my medical work and traded very little. It's taken me two weeks to start to get my edge back as I was really rusty. One thing I did was too simplify my charts. I was having trouble managing all many charts and having a real difficult time reading them all.

One thing you will notice is that I removed my Footprint charts. It was too much to process as I was so out of practice. I kinda wanted to see how I could do without them anyway. It worked really well on Friday as I had my confidence back and read the market pretty well.

I hope this helps. I am sorry to have abandoned you for the past several months. I hope you had a great summer also.

MG

Kam Dhadwar's Trading Intensive

Hi guys,

Here is another trading class that might be of interest to you. I have had the opportunity of attending two of Kam's courses and he is the real deal. He has taken Market Profile and Market Delta and put it into a real learnable and tradable system.

Kam is a great guy and a great teacher. Most importantly: The bloke makes money consistently and can teach you how to make money at trading. I have learned more than a few things from him that have aided my trading and my bottom line. If you have an interest, I suggest you check out the link below and also take a free trial in his room. You'll get a real clear idea what Kam is all about and if his style is suited to you.

The class is a three day intensive entitled Advanced Online Traders coaching. It takes place from October 2 to October 4th. For full details visit:http://www.l2st.co.uk/coaching/3Days%20Online%20Intensive%20Coaching.html

MG

Week Long IOAMT Class

Hi guys,

I'm back from a long summer off. I am trying to get my trading groove and timing back. As I do, I will have some new and hopefully informative posts for you.

I recently downloaded Market Delta 10 beta 4 and if offers some cool improvements. I will share some of them as I get used to the new additions. Its a really great program that keeps on getting better and better.

On the education front, Bill Duryea is presenting his week long training program. Check out the flier above. As you all know, I am a big fan of Bill and the Institute of Auction Market Theory. If you are serious about learning this work, there is no better teacher out there then Bill. No has taught me more about trading than him. He has helped me to truly (and effectively) analyze the action of the markets and to aggressively act on my inferences.

I hope to find the time to be at the class myself. I know this stuff pretty well and I always still learn something from the guy. He absolutely amazes me with his understanding.

That's it for now. Its great to be back.

Be well,

MG

Sorry For The Lack Of Posts

Hi Guys,

I have had anything but a quiet summer. I started two businesses in the past month and have had a slew of guests staying with us. I haven't spent more than a few minutes watching the markets these past several weeks.

I hope to be back in action in the near future as things quiet down a bit. It should get easier, but you never know. I'll let you know. Thanks for all the support and your kind posts.

MG

Short From The High

Hi guys,

I wanted to show you the evolution of a trade I took today. I only had a few minutes to trade today and I got lucky that a good opportunity was present in my limited time. Start from the top picture to see what I was seeing and thinking and check out the pictures below to see my exits.

The top picture shows how dramatically delta momentum had faded on the move to the top. I had great certainty that we would get (at least) a small pullback, so jumped in with little concern.

Even with the big move up, and how much the day looked like it might be a trend day, I just didn't fully believe it. I scaled out after 3 pts at the 1 SD of VWAP. I wanted a profit in case this was just a small pullback. However, I really thought there would be more available on this move. I didn't really think the market would sustain a trend move following such a big gap and up move.

I hope it helps,

MG

Long From Low

Hi guys,

Here is a nice trade I took this morning. I wanted to show you all of my reasons. With all I was seeing, it didn't feel 'scary' at all to take a counter trade long even though it really looked like the sellers were in control and ready to put in a new low.

I got in at 966.50 as I really wanted to get in close to the key low of 966. I took 2 pts off (in case I was wrong). I got 4 pts each on my other two contracts near the vwap.

Have a great day tomorrow.

Hope it helps,

MG

Singles With Volume Behind It

Hi guys,

I have mentioned a number of times how I like Singles with volume behind them to lean on. I will be watching closely for the opportunity to go long on a retracement to these levels. I usually prefer the first Single of the day which represents the breakout point. However, the second Single has so much volume behind it, it may be very enticing.

Have a great trading day tomorrow.

MG

A Couple of Upcoming Classes

Hi guys,

First off, let me say that I'm sorry to have not been posting as regularly as usual. I am on a bit of a summertime schedule. I usually take a little break from regular trading in July and August. I will be trading off and on the next couple of weeks and will post anything I see that I think will be of interest to you.

A couple of posts back I mentioned a couple of classes by Kam Dhadwar. Just a reminder, he's doing a class on Trader Psychology on Wednesday. It's pretty reasonably priced and I will be attending. I hear that he is really good at this work. If you need some help in this area (and who doesn't?), you may want to check it out. Scroll down to read the posts.

Also, I just got word from Michelle at IOAMT that Bill Duryea will be doing an online 5 day intensive in September. The just confirmed dates are Sept 14-18 from Open to Closing plus a conference call at the end of each day for questions.

I have no idea of the price but I certainly hope to be there for this intensive. He constantly blows my mind with his knowledge. Hearing him speak, I am constantly reminded how much more I have to learn. I'll let you know when I have more details.

That's it for now. I hope to get a few hours of trading in tomorrow, but I have a big class to give in the evening and need to still prepare. Have a great day.

MG

Point and Figure Perspective From Bill Duryea

Hi guys,

I thought I'd show you an interesting look at the market from Bill Duryea of IOAMT, using Point and Figure charts. Make a note of the levels. Don't forget about the key levels above. The market certainly didn't forget today, as you can see.

Hope it helps,

MG

10 Day Perspective

Hi guys,

I didn't get to trade today as I had a very busy workday in my practice. I hope you did well. Here is some of my preparation work for tomorrow. Notice the levels I have marked. Also, notice the high volume clusters showing as dark blue. These are the levels I will be watching over the near future.

Also, notice that while we had a quite large cumulative delta for the day today, the big boys were not participating very vigorously. So, let's see how that bodes for tomorrow.

Have a great trading day,

MG

Update On Kam Dhadwar Classes

Hi guys,

Just a quick update on the Kam Dhadwar classes I wrote about yesterday. Kam emailed this am to let me know about a deal he was offering.

SIGN UP TO BOTH EVENTS ABOVE AT REDUCED RATES - Limited Offer!

L2ST Members - £129 for Both Events, instead of £158 OR
Non L2ST Members - £159 for Both Events, instead of £194

If you are interested, here is the link to get the special rate: http://www.l2st.co.uk/Events/July-Offer.html

Here is the link I promised for the Art of Adaptive Trading class: http://www.l2st.co.uk/Events/Art-29-07-09.html

Hope it helps,

MG

Two Classes With Kam Dhadwar

Hi there guys,

Here are two really interesting looking classes put on by Kam Dhadwar, who is a trader and teacher from England. You might have seen the classes he did for Market Delta recently. I really respect Kam and his work and I am very excited about these classes.

I signed up for both and am really looking forward to taking them.

Please note that the times for these classes is in Greenwich Mean Time. Translated, Chicago is GM - 6 hours. California is -8. So, the 7PM class is 11AM in California and 1PM in Chicago.

I don't have the link to register for the 2nd class (I misplaced it somehow) but I will email Kam to get it and post it here.

Hope it helps,

MG

Short of the 2 IBL with Confluence

Hi guys,

Here was a really nice trade. I annotated it in pretty good detail so check it out. I entered this one with a limit sell order as there was tons of confluence to give me confidence. I didn't wait to see the sellers coming in.

At levels that I really like, all I really need to see are signs of deceleration, like the divergence I showed above or tons of volume coming into my level showing that supply was present in abundance absorbing demand.

I hope this helps,

MG

Reminder about Alex Benjamin Class on Tuesday

Hi guys,

Just a reminder about Alex Benjamin's class tomorrow at IOAMT. I'll be there. Please say 'hi' via PM if you attend the class. It's free and open to all.

MG

Short of the Initial Balance High

Hi guys,

This was a nifty trade. I shorted the Initial Balance High (IBH) when the market 1 ticked above it during C period. I particularly liked this one because we also had Initiated Selling between 928 and 929 from 6.15.

A trading friend asked me how long I keep up the lines that I draw on the chart. The answer is: until they are violated. The market had not previously challenged and taken out this level since I drew it on 6.15. It still hasn't taken it out. It is still an active and alive level that will remain on my chart.

Check out the 30 minute chart to see what I was looking at. MD 9.2 makes this so easy to do. Notice I have buttons already set to make the process of adding a line very easy.

Here is a link (below) to the chart definition. You won't be able to use all the lines that are automatically drawn unless you set your V#'s up and Quote page. Some are set up with Custom Columns which require the Pro version. All the rest should work fine for all.

Hope this helps,

MG

http://www.charthub.com/images/2009/07/01/30_Minute_Fotprint_Chart_No_Se.png

Alex Benjamin Class at IOAMT

Hi guys,

Just a reminder that IOAMT will be presenting Alex Benjamin in a free webinar on July 7. Alex is a true master of Market Profile. I plan to be there to see if I can pick up some new ideas.

MG

Test Above 924 Area

Hi there guys,

I got a real nice one this am, shorting near the high at 925.50. I exited 911.50. I explained my reasons in detail in the chart annotation. I am not an early morning kind of person. The only reason I was able to be sharp enough to take this trade was my preparation. I was totally aware that 924 was a key area and that if the price probe above this failed, or if this was just a stop catching expedition, we should see a really nice move to the downside.

I had my target clearly laid out at yesterday's low. I had a clear analysis and my inferences worked out to the tee. When the trade moved in my direction, I got out of the way and let it play out.

We all know that it doesn't always work out so nicely. Today it did. Now on to tomorrow.

MG

Be Aware Of These Levels

Hi guys,

Here are two charts (with kind permission of Bill Duryea of IOAMT) that show key levels to be aware of as you go into this week.

Hope it helps,

MG

Short from the High

Hi guys,

I was fortunate to short the HOD near the end of the day. I wanted to outline my reasons. Friday's, near the end of the trading day/week, often offer unique opportunities for large break outs or reversals. I am often aggressive at this time in the trading week if the opportunity presents itself (which it often does). This wasn't an amazing trade but I still got 4 points max out of it.

Check out the charts for my thoughts. Questions/comments are surely welcome.

I hope you have a great trading week.

MG