Covered in this months newsletter:

• 20 Most Common Trading Mistakes – now available
  
  
• Current market update
  
  
• When to tighten your stop losses
  
  
• Watch my trade continue to progress
  

If you have recently subscribed to my website or for some reason you did not receive my last email you can view the previous newsletters by clicking here.

20 Most Common Trading Mistakes Now Available

After selling out of my first shipment of this exciting new book written by Kel Butcher, I have since ordered more and they are now available.

This book is a must read for all traders as it reveals market mishaps from some of the biggest names in trading that every trader can learn from - (in chapter order) Dr Van Tharp, David Hunt, Justine Pollard, Louise Bedford, Brett Steenbarger, Russell Sands, Davin Clarke, Ryan Jones, Wayne McDonell, Gary Stone, Christopher Tate, Jake Bernstein, Larry Williams, Glen Larson, Tom Scollon, Dr Harry Stanton, Kel Butcher, John Robertson and Jason Cunningham.

Click on the web link below to order your copy today:

Market Update

The market has certainly had a nice strong run since mid July, rising 16% of its value. It has generating a good support level at 3700 and moved strongly above and beyond the 4000 mark up to its October/November 2008 highs, which will be its next test. With the US Markets moving strongly on Friday night it will be interesting to see if it can be enough to push our market beyond its November highs.

The flow of the market has certainly been very nice and it is times like this that your trading account gets a nice boost. Over the last few weeks I have built into some nice strong trades, that have all been moving very well. My trailing stop losses have been regularly moving and I have also had the opportunity to add to trades and pyramid. I have been sharing all these trades with the Smart Traders that are part of my Smart Traders Teleconference program.

Tightening Stop Losses

There has been an abundance of opportunities to choose from in the market lately and I know I am enjoying the current ride and have had a nice boost to my trading account. The goal is still to be vigilant at all times and keep a watchful eye on my trades and continue to manage stop losses on each trade. So while the current trend continues I will continue to profit and if and when it changes or takes a breather my stop losses will signal me to get out and tell me when to take profits.

There is also a time when certain things occur when I will tighten my stops and protect more of my profits. The sorts of things that make me wary and give me a signal to tighten my stop losses on individual trades are when I see any of the following occurring in the chart of the share:

• If I see a reversal pattern form, such as a double top occurring that is also confirmed with divergence
  
  
• If the share rises a large amount in a short space of time
  
  
• If the share breaks through a significant support level or gaps against me in the opposite direction with strong volume (and this is not an ex-dividend gap)
  
  
• If the share moves sharply against me rising two or more of its average true range value in a day
  
  
  

If any of these things occur I will either tighten my stop on the entire trade or sell half. It all depends on how dramatic the move is. If you are unsure what to do you can always consider tightening your stop on half the position. This means that if you own 4000 shares you can have two stops – 2000 shares sitting at the tighter stop and the other 2000 set at the original wider stop.

I share all my trading systems, rules and strategies in my Smart Trading Plan & System Development Course. And as it is online, which means you can start the course NOW!

Here is what people have said about this course:

"I have really enjoyed the course and I am amazed how much I have been able to learn in such a short time."
Darren Dunn, QLD

"Justine's Trading Plan & System Development Course helped me tie together my fragmented knowledge of trading. She assisted me to develop my trading plan and her risk and strict money management is an absolute essential . It is fantastic to find a professional who is willing to share their knowledge. I highly recommend her trading courses. Thank you very much Justine."
Tom Gocev, NSW

"Justine, I recently purchased your course and love the programme. Over the years I have completed a couple of trading courses and read many books on the subject but nothing comes close to the straight forward easy to follow mechanical approach that you have and I congratulate you."
Merv Cooke, Wagga Wagga, NSW

"Your Smart Trading Plan & System Development course is excellent. I did not expect I would get this much understanding out of it, especially as English is my second language. Having the supporting audio with each lesson meant I was able to re-listen to the sessions again and again, which has ensured that I understood everything and I get more out of it each time. Thank you so much for a wonderful course and all your support in replying to my questions, I didn’t expect to get this much from you."
Kulvadee, ACT


Click here for more information on this exclusive online course.

The course is also available in a range of training packages, which you can find out more about by visiting this web link: www.smarttrading.com.au/index.php?q=stock-market-training.html

Watch My Trade Continue to Progress

I have been sharing a current trade with you over the last two newsletters and, can you believe it, this trade is still open and active. The share that I call XYZ, has now moved to new highs and I will provide details of the share name once I have exited the trade.

The share has managed to move higher and beyond $6 which is a good sign. My stop loss has also moved up nicely. The trend has been nice slow and steady and I will continue to share the progress of this trade in the next newsletter.

Until next time, enjoy, learn, grow and prosper. The market will be your biggest teacher of all :-)

Cheerio

Justine Pollard
Author, Private Trader & Trading Mentor
'Discover the Smarter way to trade'
www.smarttrading.com.au
justine@smarttrading.com.au

Smart Trading Pty Ltd is a Corporate Authorised Representative of CDM Pacific Pty Ltd AFSL 223682

The returns reported are provided for information purposes only. Results of past performance are no guarantee of future returns. No assurance is given that you will incur any profits or losses in your own trading and it should not be assumed that you will experience results comparable to those as reported. Any trade examples listed within this website or associated material are either ficticious or historical and in no way should be interpreted as a recommendation to invest in any particular stock, CFD or investment. Smart Trading Pty Ltd as Authorised Representative No.336312 of CDM Pacific Pty Ltd AFSL 223682 assumes no responsibility for your trading and investment decisions or subsequent results. There is a high degree of risk involved in trading and as such we always recommend that you seek independent financial advice by a licensed professional prior to making any investment decision.