Trading the S&P e mini

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gmca686

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I am a great fan of the 21st Century web site and I value their educational modules and their market commentary. They have recently teamed up with an S&P Trader callled "Mohan" and launched 21st Century Futures, www.21stcenturyfutures.com

I have become a subscriber, $179 per year. In my humble opinion the man is the best predictor of market movement that I have come across. I have no connection to the site or its owners, but if you trade the S&P, the site is worth your examination.
regards, GMCA686
 
I too follow that website and Mohan. He has an uncanny knack of predicting the days moves but the real benefit of his work is that it gives you the opportunity to learn about the markets rather than take someone else's predictions and apply them without thinking about what you are doing. In terms of cost too its very reasonably priced compared to what is out there.
Although his work is based on the S & P I use his commentary to trade the Dow purely because the correlation between the two is very high and whenever a high/low is reached on the S & P the Dow is not far behind or ahead. Works for me anyway.
 
I've followed this 'Mohan' for a while, and for me, he got more wrong than right. His explanations are clear and concise of where he expects the moves to go. and his 'high five' (least I think it was called this) is technically sound.

But I am still at a loss as to why people pay good money to follow someone's take on where the market is going. They make it look as though they have more knowledge and foresight than the average Joe does but in the long run (or short run) your gonna lose out.

People look for the easy way out, either software that gives buy/sell signals. (haha) or someone to tell them what to do.
In a 'live' trading market, what someone said an hour before the open will not apply to your trading of the market 'now'. Though having said that I haven't been in his live trading room so will quite happily stand to be corrected, as his reading of the 'live' action will be more up to date. Though trading it may prove more difficult.

The answer is to study whatever method you choose, have faith in yourself and your abilities and listen to no one. Be responsible for your own actions.

(Oh, this is not directed at you guys above but exists as a general outlook.)
 
Take a book called Sniper Trading by George Angell, read the chapter on support and resistance, add on high five , bear ugly ect and hey presto you have Mohan (well that's what I think)

You can calculate your own buy & sell numbers using Angell's method it is very accurate ( I'm sure Mohan must have this book!) It is not the holy grail but used with other analysis it can be very helpful. I am always amazed at how close the calc's come to the s & p's range
 
You've got it bisto, great book.

I'm sure half of the stuff on the web touted as miraculous goes back 50 years to Taylor's 3 day cycle. At least Angell is honest enough to admit it.
 
i wish I could make 10 handles a day every day...

I usually trade 5 lots * 10 handles*$50*260 trading days = $650,000 a year in profits ( minus a little commission of course )..

and I get that for only $179!!...

My subscription money is on the way Mohan
 
Bisto,

useless, but working more short term on futures at the moment. When I go longer term, I'll look at it properly.
 
SUNSEEKER said:
i wish I could make 10 handles a day every day...

I usually trade 5 lots * 10 handles*$50*260 trading days = $650,000 a year in profits ( minus a little commission of course )..

and I get that for only $179!!...

My subscription money is on the way Mohan
Click to expand...


The secret is to trade 10 lots............anything less than 1 mill a year really aint worth getting out of bed for.
 
I read George Taylor's book 'Taylor Trading Technique' (on which Angell's book is based) and kept records for about six months, but couldn't get it to work sufficiently well for it to make a difference to my trading. I'd read of a few people (Farley and Bradford Raschke I believe) who referenced Taylor's work so though the least I could do was give it a whirl to see for myself.

I found that sometimes it worked, sometimes it didn't, and 'potluck' was how it seemed to me. In the end I just traded what I saw not what I thought would happen, and this really is the best.

But you have to go through the investigation stages of trying everything out before you realise that they don't really help. Well, that's what I found anyway.
 
A handle is a contract.

Skim I guess you are not a system trader which is where such techniques come into play.

Personally I want to be a 'Black Box' system trader and enjoy life. That way there's no emotion or discipline involved.

JonnyT
 
There are handles, and then there are cars, and there are contracts - depends on the age of the trader I've found as to what they call them. :D

I'm definitely not a system trader, I'm pure discretionary. :cheesy:
 
SUNSEEKER, could you explain the math for me regarding your last post.?

thx
 
well boy, if I can make 10 handles a day like Mohan says, that means I can make 10 SP points a day handle =1 point,

10 points times my normal position which is $250 a point I would make $2500 a day, and there are 260 trafding days in a year..

that would make up the half mill or so...and that is pretty good since Mohan will give the signals for me !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
 
That is a decent return for the money spent, and when I get some more money in the account, so next year I will make more than 1 mill a year!!
 
Oh right, I thought the discussion was the emini contract...fox'd me there.
 
Mmmmm.......a handle is a point, NOT a contract. The word is more commonly used re-the big contract, not the emini, but you can still call an emini point a handle, no problem.
I've been shown his material and Mohan isn't bad and does present a reasonable view of the market, though it is surrounded by so many ifs and buts that the probability of one of them being successful is good.
As for his buy and sell pivots, they are virtually floor traders pivot levels S1 and R1.
If only there were 260 trading days in the year.............actually the market is closed for quite a few of those so you wouldn't make as much, but I won't be pedantic about the odd $100k here or there.
 
I've obseved Mohan for about 6-9 months,and I agree he does present a very reasonable view of the market. But in actual practice, the traders that I've seen using his stuff real time were getting stopped out too much with 6 point or greater losses.

Relative to his "handle", it refers to the emini contract one full point, or $50.
 
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