daily blog

As I casually strolled across the dingy Boston playing field on a brisk Sunday afternoon the winds began to whip through my jacket and the words watch your step scrolled across my mind as I carefully navigated through the debris that is a part of many urban ball fields , broken glass, geese droppings, etc. Wait a minute is that human feces? I finally made it to the sideline set up my portable sports chair and got ready to watch an M2Sports flag football game between the Giants and the Eagles. The only reason I was at this game was to watch my son Tony aka “Tadow” along with the rest of his Giant teammates “H8me, Sho Nuff, Killa, Toby, Javafi,Jeebies, El Negro, Phil, Cbert and P.T compete.

Before the game started the first thing I noticed was how diverse the teams were, there were men of all racial, social, religious and economic backgrounds playing side by side or as opposition. The formation of the league was the brainchild of Mario Lopez a Latino brother who had the vision to create a format where men can be men have fun, stay in shape and release the stress of daily living at least once a week and have the freedom to unleash their alter ego’s with names like K-Dogg, Speedy, Mr. Puerto Rico etc. It was great to see such a diverse collection of men gathered together.

The game finally began and immediately there was a lot of trash talking, this was my first time attending the games, so the language assault I experienced caught me off guard, I was sure someone was going to take the comments out of context and blows would be thrown, this was definitely not a PG-13 event and don’t get it twisted just because it’s a flag football league, this sports is not for little boys, hits on the sideline are legal and people can and do get cracked, much to the delight of the crowd on run backs or blocking at the line. Both teams spent a fair amount of time and energy trading verbal air assaults from ethnic put downs to the questioning of “Manhood” for everyone to hear and laugh at on the sidelines. The contest was intense and went back and forth the Giants scored first then the Eagles and this pattern lasted over two hours, until “Tadow” scored the game winning touchdown. What happened at the conclusion of the game is what really impressed me, I just knew that after all the jarring that took place the end of the game would be the opportunity for someone to over react to something that was said and blow it out of proportion, as I watched the teams walk toward each other at midfield, the teams simply shook hands, embraced, laughed, shared water and a genuine respect for their brothers after all it was just a game they left their differences on the football field.

At that very moment I pondered the following, why can’t these same men who represent something larger than themselves come together for a common cause away from the playing field and take that same passion and energy back to the community to help tear down the walls that separate us and make a difference? What is it that keeps our neighborhoods segregated once they exit the playing surface? After the games are over, the blacks will go their way and hang out with the blacks, the Latino’s will hang with the Latino’s and so on for the white males. It’s been said that sports serves as a microcosm of the larger society in many ways, but it’s ironic that the same people who can spend hours together as teammates or engaged in healthy competition go their separate ways and live in different worlds once the games end. Imagine how powerful it would be to see these same men standing side by side leading voter registration drives, mentoring programs, policing the block to make the hood safe, visiting classrooms, and juvenile detention centers. They would be excellent role models in demonstrating to our youth that beneath the obvious differences of color and race we can get along. On the playing fields diversity is what helps a team come together, the successful teams adopt the philosophy of inclusion and appreciation of variety and they figure out how to make those differences work together for a common goal, “winning”. Yet that same approach is rarely seen in other area’s politics, education, religion and employment to name a few.

Perhaps one day we will find a way to make society a microcosm of sports, rather than the other way around.

Tony Price

A Boston Based Collegaite Athletics Administrator and Head Basketball Coach. A Hall of Fame Inductee(Worcester State College) with 20 plus years experience as an athlete, coach, and administrator.

As I casually strolled across the dingy Boston playing field on a brisk Sunday afternoon the winds began to whip through my jacket and the words watch your step scrolled across my mind as I carefully navigated through the debris that is a part of many urban ball fields , broken glass, geese droppings, etc. Wait a minute is that human feces? I finally made it to the sideline set up my portable sports chair and got ready to watch an M2Sports flag football game between the Giants and the Eagles. The only reason I was at this game was to watch my son Tony aka “Tadow” along with the rest of his Giant teammates “H8me, Sho Nuff, Killa, Toby, Javafi,Jeebies, El Negro, Phil, Cbert and P.T compete.

Before the game started the first thing I noticed was how diverse the teams were, there were men of all racial, social, religious and economic backgrounds playing side by side or as opposition. The formation of the league was the brainchild of Mario Lopez a Latino brother who had the vision to create a format where men can be men have fun, stay in shape and release the stress of daily living at least once a week and have the freedom to unleash their alter ego’s with names like K-Dogg, Speedy, Mr. Puerto Rico etc. It was great to see such a diverse collection of men gathered together.

The game finally began and immediately there was a lot of trash talking, this was my first time attending the games, so the language assault I experienced caught me off guard, I was sure someone was going to take the comments out of context and blows would be thrown, this was definitely not a PG-13 event and don’t get it twisted just because it’s a flag football league, this sports is not for little boys, hits on the sideline are legal and people can and do get cracked, much to the delight of the crowd on run backs or blocking at the line. Both teams spent a fair amount of time and energy trading verbal air assaults from ethnic put downs to the questioning of “Manhood” for everyone to hear and laugh at on the sidelines. The contest was intense and went back and forth the Giants scored first then the Eagles and this pattern lasted over two hours, until “Tadow” scored the game winning touchdown. What happened at the conclusion of the game is what really impressed me, I just knew that after all the jarring that took place the end of the game would be the opportunity for someone to over react to something that was said and blow it out of proportion, as I watched the teams walk toward each other at midfield, the teams simply shook hands, embraced, laughed, shared water and a genuine respect for their brothers after all it was just a game they left their differences on the football field.

At that very moment I pondered the following, why can’t these same men who represent something larger than themselves come together for a common cause away from the playing field and take that same passion and energy back to the community to help tear down the walls that separate us and make a difference? What is it that keeps our neighborhoods segregated once they exit the playing surface? After the games are over, the blacks will go their way and hang out with the blacks, the Latino’s will hang with the Latino’s and so on for the white males. It’s been said that sports serves as a microcosm of the larger society in many ways, but it’s ironic that the same people who can spend hours together as teammates or engaged in healthy competition go their separate ways and live in different worlds once the games end. Imagine how powerful it would be to see these same men standing side by side leading voter registration drives, mentoring programs, policing the block to make the hood safe, visiting classrooms, and juvenile detention centers. They would be excellent role models in demonstrating to our youth that beneath the obvious differences of color and race we can get along. On the playing fields diversity is what helps a team come together, the successful teams adopt the philosophy of inclusion and appreciation of variety and they figure out how to make those differences work together for a common goal, “winning”. Yet that same approach is rarely seen in other area’s politics, education, religion and employment to name a few.

Perhaps one day we will find a way to make society a microcosm of sports, rather than the other way around.

Tony Price

A Boston Based Collegaite Athletics Administrator and Head Basketball Coach. A Hall of Fame Inductee(Worcester State College) with 20 plus years experience as an athlete, coach, and administrator.

As I casually strolled across the dingy Boston playing field on a brisk Sunday afternoon the winds began to whip through my jacket and the words watch your step scrolled across my mind as I carefully navigated through the debris that is a part of many urban ball fields , broken glass, geese droppings, etc. Wait a minute is that human feces? I finally made it to the sideline set up my portable sports chair and got ready to watch an M2Sports flag football game between the Giants and the Eagles. The only reason I was at this game was to watch my son Tony aka “Tadow” along with the rest of his Giant teammates “H8me, Sho Nuff, Killa, Toby, Javafi,Jeebies, El Negro, Phil, Cbert and P.T compete.

Before the game started the first thing I noticed was how diverse the teams were, there were men of all racial, social, religious and economic backgrounds playing side by side or as opposition. The formation of the league was the brainchild of Mario Lopez a Latino brother who had the vision to create a format where men can be men have fun, stay in shape and release the stress of daily living at least once a week and have the freedom to unleash their alter ego’s with names like K-Dogg, Speedy, Mr. Puerto Rico etc. It was great to see such a diverse collection of men gathered together.

The game finally began and immediately there was a lot of trash talking, this was my first time attending the games, so the language assault I experienced caught me off guard, I was sure someone was going to take the comments out of context and blows would be thrown, this was definitely not a PG-13 event and don’t get it twisted just because it’s a flag football league, this sports is not for little boys, hits on the sideline are legal and people can and do get cracked, much to the delight of the crowd on run backs or blocking at the line. Both teams spent a fair amount of time and energy trading verbal air assaults from ethnic put downs to the questioning of “Manhood” for everyone to hear and laugh at on the sidelines. The contest was intense and went back and forth the Giants scored first then the Eagles and this pattern lasted over two hours, until “Tadow” scored the game winning touchdown. What happened at the conclusion of the game is what really impressed me, I just knew that after all the jarring that took place the end of the game would be the opportunity for someone to over react to something that was said and blow it out of proportion, as I watched the teams walk toward each other at midfield, the teams simply shook hands, embraced, laughed, shared water and a genuine respect for their brothers after all it was just a game they left their differences on the football field.

At that very moment I pondered the following, why can’t these same men who represent something larger than themselves come together for a common cause away from the playing field and take that same passion and energy back to the community to help tear down the walls that separate us and make a difference? What is it that keeps our neighborhoods segregated once they exit the playing surface? After the games are over, the blacks will go their way and hang out with the blacks, the Latino’s will hang with the Latino’s and so on for the white males. It’s been said that sports serves as a microcosm of the larger society in many ways, but it’s ironic that the same people who can spend hours together as teammates or engaged in healthy competition go their separate ways and live in different worlds once the games end. Imagine how powerful it would be to see these same men standing side by side leading voter registration drives, mentoring programs, policing the block to make the hood safe, visiting classrooms, and juvenile detention centers. They would be excellent role models in demonstrating to our youth that beneath the obvious differences of color and race we can get along. On the playing fields diversity is what helps a team come together, the successful teams adopt the philosophy of inclusion and appreciation of variety and they figure out how to make those differences work together for a common goal, “winning”. Yet that same approach is rarely seen in other area’s politics, education, religion and employment to name a few.

Perhaps one day we will find a way to make society a microcosm of sports, rather than the other way around.

Tony Price

A Boston Based Collegaite Athletics Administrator and Head Basketball Coach. A Hall of Fame Inductee(Worcester State College) with 20 plus years experience as an athlete, coach, and administrator.

Learning to use a forex chart will greatly improve your ability to become a profitable forex online trader. As with stock exchange investing there are several popular chart types used to visually analyse trading data. Some of the forex chart types include bar charts, candlestick charts and point and figure charts.

The forex chart can be very useful when looking to analyze markets when using technical analysis. The technical style of trading ignores fundamental factors and is only used with the price action of a market. This can be good to also remove the emotional effect trading has on your mental state.

With a forex chart you are able to see the movement of the market in a visual format. In addition to the standard chart you can add indicators or oscillators to help you make decisions about when to get in or out of your currency trades.

In case you do not know what an indicator is, it is a series of data points used to help predict movements in currencies. Some of the more popular indicators used on forex charts are moving averages, waves and bollinger bands.

Bar Charts – are quite often used in security market technical analysis. Bar charts are quite easy to construct making them quite popular. The charts are constructed by showing intra-day, daily, weekly or monthly movement as a vertical bar. Opening and closing prices are shown by horizontal marks to the left and right of the vertical bar respectively.

Candlestick Charts – were the secret weapon of the Japanese traders until Steven Nison of Merrill Lynch made the use of this chart popular in western markets. The candlestick chart is credited to Munehisa Homma, a Japanese rice trader in the early 18th century.

The candlestick is the graphic representation of the price bar: the open, high, low, and closing price of the period. The candlestick has become a widely used tool in online currency trading.

When you use the candlestick in your forex chart there are many patterns that you can learn to identify to help with your technical analysis. There are 12 you really should learn. Some of them include morning star, evening star, shooting star.

When using forex charts you should be using live data feeds. This means the data you are seeing in your forex charts is based on actual currency rates at the time you are viewing the chart.

To get your data and software for your forex charts you have free options and paid options. Quite often after selecting your forex broker you will receive some for of forex charting through their trading platform.

With the paid options you normally would pay for a data feed to construct your forex charts. This is typically a monthly subscription. You are quite often able to receive a free trial before committing to a subscription.

I currently use FXCM Trading Station and it comes with a built in forex chart. You can ask your broker what they recommend if you are wanting more advanced forex charting options.

If you are considering getting into the forex market and trading currencies I strongly recommend learning what you can about using a forex chart to help with your trading.

If you find this all too difficult you may instead wish to use a Forex signal service however this comes at a cost. It is always best to rely on your forex chart knowledge.

Looking for more forex trading information, visit forextradingonlineinfo.com. Sign up for the newsletter and receive a bonus report.

The Japanese invented candlestick charts a few hundred years ago and they have been used extensively by traders ever since. They are basically like bar charts except they provide a lot more information. So how useful are they when used to trade the forex markets?

Well first of all I would say that it’s generally not a great idea to make trading decisions based solely on candlestick charts. Ideally you should also use other technical indicators as well in order to find high probability trading set-ups, before looking for additional confirmation from the candlestick charts. Some people do trade and make consistent profits by just trading forex candlesticks but they are definitely in the minority.

Before I discuss how you can interpret candlesticks let me first of all discuss what a candlestick actually is. In simple terms a candlestick is simply a visual display of how the price has moved during a particular time frame. It consists of a body which signifies the open and close price and two wicks which indicate the high and low point during that particular period. If it’s a green candle, the closing price was higher than the open price and if it’s red then the price moved down with the closing price ending up lower than the opening price.

This may sound fairly basic and you may well wonder how you can trade these candlesticks but there are a number of different patterns you need to learn because they can offer strong buy or sell signals.

For example, if you get several consecutive candles that all have very small bodies followed by a candle with a large body then you know that there is a strong chance of a breakout occurring either up or down depending on the colour of the bar.

Another strong candlestick pattern is the hanging man and hammer patterns. These are both strong indicators that a reversal is due to take place. They both look the same with a small body and a long hanging downside shadow. The only difference is that the hanging man is used to signify a reversal of an upwards trend and a hammer is found at the bottom of a downwards trend and indicates an upwards reversal. Used in conjunction with other indicators these are very strong signals that a reversal is imminent.

These are just a few patterns but there are many other candlestick patterns you should learn because you can gain some invaluable information from them, particularly when combined with other forms of technical analysis.

James Woolley runs a website which provides details about Forex Candlesticks Made Easy and other top selling forex products.

Fibonacci can be a very valuable addition to the tools in your Forex strategy, even if you are a reasonably new trader. Experiment with the guidelines below and learn to do the Fibonacci two-step. The level of success with this tool is quite amazing.

Fibonacci levels indicate more often than not how far price is going to go before it stalls and pulls back. It also provides a number of levels where price can pull back or retrace before moving on in the direction of the trend.

The Levels

The 4 most common retracement levels are (figures rounded off):

1. 38%
2. 50%
3. 62%
4. 79%

The two most common extension levels are:

1. 1.27%
2. 1.62%

Using the Fibonacci tool that comes with most charting packages, simply drag the tool from the most recent swing high/low to the previous swing/high or low and take special note of the 50% retracement level.

The Two-Step Strategy

In a nutshell, the Fibonacci Two-Step means you set an entry order to be pulled in if and when price touches the Fib50% retracement level, and you set your target at the Fib1.27% extension level.

However, for these trades to be high probability with minimal risk a couple quick calculations are necessary.

What is your stop value? 25-30 pips? If it’s more can your equity cover it if you lose the trade? For many traders 25-30 pips is a reasonable stop.

So before entering the trade, measure the distance between the Fib50% retracement level, your possible entry point, and the Fib79% retracement or even the 100% level. If it is more than 25-30 pips, pass on the trade. The risk is too great. If price pulls back further than the Fib50% level even all the way back to the last swing high/low, you will be in trouble.

However, if the Fib79% or 100% level are within 25-30 pips of your entry at Fib50%, you have a possible trade.

Now calculate how many pips from Fib50% to the extension at Fib127% – this will be your profit ratio. Supposing your stop is set at 25 pips, perhaps somewhere between the Fib79% retracement level and the swing point, and your target at the Fib127% extension is 36 pips, that’s a good risk/reward ratio! You are risking 25 pips to get 36.

It is often advisable to set your target 3 or 4 pips above the Fib127% level as sometimes price doesn’t quite make it before it pulls back.

Use this strategy in line with your other indicators and trade in the direction of the trend for minimal risk.

The Secret Of The Two-Step Strategy

Why is this strategy so successful? Because it’s not too ambitious.

Price will often pull back to the Fib50% level and no further. It will often go to the Fib127 and no further. So using these two levels puts one on middle ground with a higher chance of getting taken into the trade with the target successfully met.

So if you are looking to improve your Forex strategy, remember the Fibonacci Two-Step – In at Fib50 – Out at Fib127 – and dance all the way to the bank.

For an illustrated example of the Fibonacci Two-Step click here:

http://www.vitalstop.com/Forex/two-step.html

For a free Fibonacci calculator plus a pivot point calculator and the best free economic calendars click here:

http://www.vitalstop.com/Forex/tools.html

For a free candle & chart pattern recognition reference tool click here:

http://www.vitalstop.com/Forex/Candle-Chart-Patterns

Christmas is responsible for more waste and consumption than any other holiday. North American’s trash contributions to the landfill increase by 25% during this time of year – which equates to a minimum of 25 million extra tons of garbage going to the landfill. By recognizing the incredible waste that is generated the urgency to do something becomes apparent.

A truly useful or environment friendly gift that provide some convenience or financial benefits is a better ecological choice. At the same time, you can help alleviate the guilt you might feel during this period of high consumption and travel activities. Here is a brief list of frugal and environmentally sound ideas to inspire you.

For the homeowner – A thermostat control that automatically turns the heat down at night; low flow showerhead attachment; draft cozy (placed in front of doors to prevent drafts) and tubes of caulking or weather stripping. Dimmer switches, compact fluorescent bulbs (CFL’s) or hot water tank and hot water pipe insulation kits are also excellent ideas. Yellow CFL’s are perfect for exterior lighting because they attract fewer insects. Consider making an eco-package combining some of these items for the homeowner.

For the gardener – A subscription to an organic gardening magazine or a membership to a seed organization is always an interesting gift idea. Bird, bat and butterfly houses, baths and feeders – or the patterns to build them – are a wonderful optional gift. Alternatively consider composting worm bin, gift certificate to a nursery or a membership with an environmental group.

Give Services – Rather than giving an item that must be wrapped, consider purchasing tickets to a performance, restaurant gift certificates or services such as lawn care, diaper, cleaning, music lessons, exercise or dance classes, tune-up or tire rotation services. Don’t forget to look at dog walking, babysitting, and massage, spas or gyms when looking at gift certificates. All of these ideas will help you support local businesses that you believe in while giving something that the recipient can truly benefit from.

Give Food – Home preserves such as dehydrated or canned foods make excellent gifts. Those that find cooking tasks cumbersome treasure frozen meals. Snack foods and deserts are appreciated by most anyone; keep in mind that purchasing Brazil or cashew nuts supports a tropical rainforests. Baskets of healthy foods are another wonderful idea to consider – especially if it contains samples from local producers.

Books – Most of us realize the benefits of literacy and supporting local businesses. You can do both by choosing to purchase books as gifts this year. However, we can also leave a legacy with a book of our own. This could be a journal, a collection of our poetry, a family tree that you’ve researched or even a family recipe book. Perhaps you might consider including quotes from family members or people you admire and possibly a few favorite family photos.

Alternative gifts – A reusable coffee filter and whole organic coffee beans makes a nice gift for coffee lovers. Consider slippers and sweaters – the recipient is less likely to turn up their thermostat. Toys and games with positive environmental or education values and those that emphasize cooperation, exploration or creative thinking. If you choose to purchase electronics, consider those powered by solar or rechargeable batteries.

The Tree: Give or purchase a living tree for yourself this year (it removes carbon dioxide, carbon monoxide, ammonia, ozone and nitrogen oxides). A living Xmas tree can be donated to individuals with space on their land, the city, schools or parks when the season is over. Alternatively, plant it in your own yard for privacy, summer shade or soil and water erosion control.

The Photos – For holiday photo memories, avoid disposable cameras. Instead use a digital camera and load directly to your own computer and CD burner. Alternatively, use a normal camera using 36 exposure film rolls and have the pictures put on CD’s at the development outlet. Choosing these options reduces chemicals, paper and waste, while you save some cash.

~ Dave Brummet: co-author of the books Trash Talk, Purple Snowflake Marketing and Towards Understanding; co-host of the Conscious Discussions radio show (http://www.brummet.ca)

As I casually strolled across the dingy Boston playing field on a brisk Sunday afternoon the winds began to whip through my jacket and the words watch your step scrolled across my mind as I carefully navigated through the debris that is a part of many urban ball fields , broken glass, geese droppings, etc. Wait a minute is that human feces? I finally made it to the sideline set up my portable sports chair and got ready to watch an M2Sports flag football game between the Giants and the Eagles. The only reason I was at this game was to watch my son Tony aka “Tadow” along with the rest of his Giant teammates “H8me, Sho Nuff, Killa, Toby, Javafi,Jeebies, El Negro, Phil, Cbert and P.T compete.

Before the game started the first thing I noticed was how diverse the teams were, there were men of all racial, social, religious and economic backgrounds playing side by side or as opposition. The formation of the league was the brainchild of Mario Lopez a Latino brother who had the vision to create a format where men can be men have fun, stay in shape and release the stress of daily living at least once a week and have the freedom to unleash their alter ego’s with names like K-Dogg, Speedy, Mr. Puerto Rico etc. It was great to see such a diverse collection of men gathered together.

The game finally began and immediately there was a lot of trash talking, this was my first time attending the games, so the language assault I experienced caught me off guard, I was sure someone was going to take the comments out of context and blows would be thrown, this was definitely not a PG-13 event and don’t get it twisted just because it’s a flag football league, this sports is not for little boys, hits on the sideline are legal and people can and do get cracked, much to the delight of the crowd on run backs or blocking at the line. Both teams spent a fair amount of time and energy trading verbal air assaults from ethnic put downs to the questioning of “Manhood” for everyone to hear and laugh at on the sidelines. The contest was intense and went back and forth the Giants scored first then the Eagles and this pattern lasted over two hours, until “Tadow” scored the game winning touchdown. What happened at the conclusion of the game is what really impressed me, I just knew that after all the jarring that took place the end of the game would be the opportunity for someone to over react to something that was said and blow it out of proportion, as I watched the teams walk toward each other at midfield, the teams simply shook hands, embraced, laughed, shared water and a genuine respect for their brothers after all it was just a game they left their differences on the football field.

At that very moment I pondered the following, why can’t these same men who represent something larger than themselves come together for a common cause away from the playing field and take that same passion and energy back to the community to help tear down the walls that separate us and make a difference? What is it that keeps our neighborhoods segregated once they exit the playing surface? After the games are over, the blacks will go their way and hang out with the blacks, the Latino’s will hang with the Latino’s and so on for the white males. It’s been said that sports serves as a microcosm of the larger society in many ways, but it’s ironic that the same people who can spend hours together as teammates or engaged in healthy competition go their separate ways and live in different worlds once the games end. Imagine how powerful it would be to see these same men standing side by side leading voter registration drives, mentoring programs, policing the block to make the hood safe, visiting classrooms, and juvenile detention centers. They would be excellent role models in demonstrating to our youth that beneath the obvious differences of color and race we can get along. On the playing fields diversity is what helps a team come together, the successful teams adopt the philosophy of inclusion and appreciation of variety and they figure out how to make those differences work together for a common goal, “winning”. Yet that same approach is rarely seen in other area’s politics, education, religion and employment to name a few.

Perhaps one day we will find a way to make society a microcosm of sports, rather than the other way around.

Tony Price

A Boston Based Collegaite Athletics Administrator and Head Basketball Coach. A Hall of Fame Inductee(Worcester State College) with 20 plus years experience as an athlete, coach, and administrator.

1. Use stop losses – A successful forex trader always limits their losses. No matter how good you are at timing the market, regardless of the strategy being used, every forex trader will lose from time to time. The key is to minimize the losses through properly placed stop losses and learn to maximize your gains.

2. Develop good trading strategies – I do not recommend using a demo account to test your strategy but do suggest starting with a really low amount of capital in a good forex trading platform. The reason I do not suggest testing your forex software trading strategy in a demo account is because of the difference between actual and fake trading. I have seen traders rely on what they learned form a demo account only to lose consistently through an actual account. I strongly believe that a small $50 start up account can be much more helpful and a great test of a forex software trading strategy. To find a proven set of forex trading strategies click on the link at the bottom of the page.

3. Learn how to interpret the news – This is a learned skill and to do so successfully you must take your time and become comfortable with these patterns. Once you learn to interpret the news you will be glad that you did, great profits can be made learning to interpret the news.

4. Start trading small – As mentioned previously, the successful forex traders learn from mistakes made when they trade small. Do as they do and you will learn to trade successfully.

5. Never allow a gain to turn into a loss – One of my personally big rules never to be violated. If you have entered into a trade and are on the upside make sure you have a stop in place to preserve your gain. Nothing brings down a trader faster than a gain turned into a loss.

6. Learn from your mistakes – The old saying is very true as it applies to the world of forex software trading, “If you do not learn from your mistakes you are bound to repeat them.” Enough said!

7. Learn to walk away from trading for a time if not doing well – I have personally made the mistake of falling into the “I’ll make the money back” mentality. This is a loser’s mental state not a successful trader’s psyche. If things are just not going well do not allow greed or fear to keep you in the forex market. There will always be tons of opportunities and you need to have your head on straight when trading so do not be afraid to walk away for a time.

8. Trade with knowledge not emotion – Do what you know you ned to do rather than what “feels right.” Stay with your strategy and do not deviate. If you trade with your emotions you will never succeed, period!

9. Trade with money you can only afford to lose – This really should be rule number one. If you violate this rule you will not be able to trade objectively or effectively.

10. Use a good trading platform – This is the one rule that is most easily pushed aside. Not choosing the best forex software trading platform is just like flushing money down the drain.

Get an Objective Review of the Most Popular Forex Trading Software Programs. Forex Trading System Review is the place to visit.

See What Forex Trading Software REALLY Works! forex-trading-system-review.com is the place to visit.

This article discusses the how to to profit from commodity pyramid trading.

These key points will help you learn this technique:

1. What is Commodity Pyramid Trading?
2. Commodity Pillar Trading Comparison
3. Commodity Pyramid Trading Comparison
4. Commodity Pyramid Trading Useful Tips

1. What is Commodity Pyramid Trading?

This is a method of trading commodity futures contracts in such a way that when the profit from a single trade equals the current margin for the commodity, the profit is used to self-finance an additional futures contract. This self-financing process can take either of two methods: Pillar trading or Pyramid trading.

The Pillar trading method involves adding one futures contract to your position during each self-finance round, while Pyramid trading adds one futures contract – but from each active futures contract with each self-financing step. This results in a doubling of your position during each self-financing step.

Both pyramid trades and pillar trades (hereinafter referred to as pyramid trades) should exhibit several characteristics which make them high profit potential candidates. These characteristics include:

• The market is quiet and has exhibited low volatility for several months.
• The margin for the commodity is relatively low.
• The market is set up for a major move. This is evidenced by extreme commercial/public signal, as well as a 12-month high or 12-month low on the daily price chart with a likely 1-2-3 Top or Bottom price chart pattern in the process of unfolding.

A VERY IMPORTANT NOTE: The biggest danger in any futures trade is a limit move which goes against your position. With a single futures contract, this is risky enough. With multiple futures contracts, this risk is seriously compounded. However, if you monitor the market conditions (both technical and fundamental market conditions) and the financial news on a daily basis, you will generally receive a timely warning of an impending limit move which may go against your position – giving you time to close out your position before that occurs.

The Pyramid Trading Form

The Pyramid Trading Form is at the heart of helping you to successfully implement and manage these trading strategies. It contains areas that will let you monitor and track up to three commodities using this trading strategy. Each area allows for up to 7 futures contracts to be held in the pillar trade position, and up to 64 futures contracts in the pyramid trade position.

How To Identify A Good Pyramid Trade Candidate

At any point in time, there will be several commodities with differing degrees of profit potential. However, it is important that you identify the commodity which has the best chance of being a profitable pyramid trade. This means that you must perform a current analysis of all commodities to identify the commodity that meets the following requirements.

a. You must first use the Commercial/Public selection tools to identify the commodities that appear to be ready to make a major move.

b. Of these commodities, identify those that appear to be making either a 1-2-3 Top or 1-2-3 Bottom in the daily price chart. Calculate the daily 50% retracement target for each one. Also calculate the dollar amount the move represents.

c. Where applicable, use the weekly chart to calculate the weekly 50% retracement target for each commodity. Again, calculate the dollar amount the move represents if the weekly target is attained.

d. Identify the margin requirement for each commodity. The ideal pyramid trade will be one with a relatively small margin requirement and with a dollar amount profit potential that is at least three times the margin requirement for the commodity.

e. The commodity that you select must be a quiet commodity – that is, one which does not have wild price swings.

f. The commodity you ultimately select as the best pyramid trade candidate must also have enough time to allow the move to unfold. This means you need to get into a more distant month to minimize loss from commission switch requirements (which can be expensive with 16 or more contracts in your position). Select the more distant commodity contract month that has 120-180 days available until the Last Trading Day (LTD).

g. The commodity which you have selected must have a daily volume of at least 10,000 contracts for adequate liquidity. Open interest should also be 10,000 or more.

It’s important to remember that once you are in a trade, you must religiously perform an analysis on a daily basis so as to identify any changes in the original analysis that may adversely impact your trade. In addition, you should always monitor fundamental “news” which will affect the price of the commodity. For example, if you’re short Orange Juice – and Florida has a freeze warning – close your position fast!

2. Commodity Pillar Trading Comparison

The commodity pillar trading strategy is the least risky of the two strategies because you only acquire one contract with each applicable price (profit) increase.

An example pillar trade resulted in $12,650 profit (before commissions). During the trade, your total risk was confined to $400 or less. If you had traded only one futures contract (with a 93.79 entry price, and a 94.92 exit price), your gross profit would have been $2,825. The pillar trading strategy produced the additional profit.

3. Commodity Pyramid Trading Comparison

The commodity pyramid trading strategy is the most risky of the two strategies because you acquire two contracts with each applicable price (profit) increase. This results in a risky “inverted pyramid” position which, if not intelligently managed can produce significant losses.

An example Pyramid Trade resulted in $72,200 profit (before commissions). During the trade your total risk was confined to $4,600 or less. Again, if you had traded only one futures contract, your gross profit would have been $2,825. The pyramid trading strategy produced the additional profit.

4. Commodity Pyramid Trading Useful Tips

There are several things which you must do when using the commodity pyramid trading technique described in this course. Failure to do so will likely invite grief into your life.

* You must perform an analysis of the markets to identify an ideal pyramid trading opportunity. Having done that, you need patience and commitment to wait for the inevitable move in price. Your previous efforts at paper trading have given you the confidence and skills to identify major moves. Trust your skills.

* Get into the more distant futures contract to avoid the need to “switch” contracts. The commission on 64 contracts at $40 per contract will cost you an extra $2,560 in commissions each time you switch.

* You must monitor your position daily. This involves being aware of what the analysis “tools” (described in my complete Commodity FUTURES Trading Course) are telling you about the current state of the market.

* Be aware of any “news” items which would have an impact (positive or negative) on the commodity you are trading. For example, if you are short in Orange Juice, a “freeze” warning in Florida will cause price to move against you, and can likely result in a limit move – a catastrophe you should immediately take steps to avoid!

* A price move generally results in a series of minor retracements; leaving a support point during an increase in price, and a resistance point during a decrease in price. It is a sensible strategy to place the stop-loss a little below the support point for the uptrend and above the resistance point for the downtrend.

* Timing of the order entry is critical. You need to predefine what your entry strategy will be during each phase of pyramid trading.

Closing Advice

You must do your homework and try different strategies using various price charts. By covering the price chart with a sheet of paper so you can’t see price action beyond the entry point, you can slowly move the sheet of paper rightward exposing subsequent price action. This technique lets you retroactively “simulate” various strategies and react to market changes. Of course, you should also be entering the applicable data into your Pyramid Trading Form to track your “simulated” trade. This will give you skills and confidence to use this pyramid trading technique.

Special Note: There is substantial risk in trading commodity futures and options.

(C) 2008 Thomas Wnorowski

Thomas Wnorowski’s flagship site Learn Futures contains contains 15 years of insight and techniques. His Commodity Futures Trading Course and Bullseye Commodity Trader Newsletter are tools you can use to educate yourself on Commodities and Options Trading.