Christine, June 2014
I love the WhichWayToday trading room. Headed by Tom Houggard its traders have very different but BIG personalities. This makes for an interesting room with very diverse trading styles. During the UK and US trading hours they educate and call their trades on various instruments with both stops and targets very clearly defined – just brilliant!
Below is an direct example of our LIVE TRADE from room transcript:
[08:03] Tom Hougaard: OK, we are up and running. DAX MO is 7668. FTSE is 6233. I don’t see anything in FOREX, so I will focus on indices. My account is up and running and visible for you, so you can see what I do. I will ring the GONG when I want to alert. I will be quiet for a bit now. Lawrence will inform you of the news.
[08:09] Tom Hougaard: OK, here we go…. DAX is trading at 7671. If it trades 7674, then I am a BUYER. My stop loss will be 11 points away. I am not sure what happened 5minutes ago, but all of a sudden DAX went from 7675 to 7686 and then back down again…..data issue? I saw nothing in between.
[08:11] Tom Hougaard: I am LONG DAX at 7674. The stop loss is 7663. I hope to bring that down to entry as soon as possible.
[08:12] client: Tom, are you trading against the daily trend?
[08:14] Tom Hougaard: John, you are right. I am trading against the daily trend, but the hourly trend is up, and since I am focusing on the shorter time frame, I am following my trading plan.
[08:19] Client: Hi Tom, are you still long DAX?
[08:21] Tom Hougaard: Yes still long… will let you know 100% if I close… I ring the gong… nothing is left to chance…. I will also come on air and tell you what I am doing.
[08:22] Tom Hougaard: Apple Computers are down BIG after their results. I thought it would have more of a negative impact on EUROPE…not so far… DAX is moving
[08:23] Tom Hougaard: It goes to show…..TRADE what you see, not what you think…follow the rules, follow the system…..
[08:45] Tom Hougaard: GUYS, GETTING READY……;…to close…. GONG RUNG
[08:46] Tom Hougaard: I have closed the position for plus 14…. I kind of felt that it should have been closed when it was plus 15 AND I should have been on board the FTSE 100….but hey, it is money in the bank
[08:51] Tom Hougaard: if DAX can close above the level you see on my chart, then I think there is more upside coming. Please stand by… it could go fast now…..
[08:53] Tom Hougaard: Using the base of DAX seen on the chart…. I am preparing to buy DAX…. If I see 7687, then I WILL BUY AT MARKET…………
[08:56] Tom Hougaard: DAX…. I am long DAX at 7687…but it is a tricky one, it could be a quick trade… stop loss is 11 points as usual……ASK IF YOU HAVE, BUT LETS HAVE QUESTIONS ONCE WE ARE OUT OF TRADE… FOCUS NOW…
[08:59] Tom Hougaard: DAX long 7687 is OK. I will move my stop to 7684
[09:01] Tom Hougaard: stop loss is at entry…..
[09:02] Tom Hougaard: DAX closed above upper bands. Watch it. STAND BY…. ABOUT TO CLOSE>. I WILL SHOUT…..
[09:04] Tom Hougaard: CLOSED AT 7703 for plus 16
[09:02] tom Hougaard: NICE….I am plus 30… will take 5 min break… need hot water for the throat….
[09:10] Tom Hougaard: OK… back to it… let’s make points…