Another great week HPS set ups in 

DRI  + 55.50

EAT  + 129.00

CBS  + 156.00

ANN  +148.00

PM  +60.00

MON -48.00

DLTR + 56.50

AAPL +183.30

And one of the best trades I ever made in my career Not in monetary value just in percentage gains.

Picking up a MA call option 

BOT 1 MA AUG 02 '13 605 Call Option 0.50 USD NASDAQOM 12:06:39 0.69 (12:08 PM EST)

and selling 

SLD 1 MA AUG 02 '13 605 Call Option 17.00 USD PSE 09:38:03 0.72 +1538.60

Even though the MA trade was a reaction trade and not a pure HPS setup it showed great team work in the chat room and it's great to recognize an opportunity with hundred of eyes on the market. 

The only reason I mention this weeks successful trades is to make a pointing out the common denominator of these trades. Each trade was thoughtfully planned out and fell within the HPS methodology. Quality is the first thing that stands out.The names are brand names.. The charts as they are presented to you all have multiple indicators lining up also. I cannot stress the importance of making yourself adhere to strict rules on stock selections and entries. Anything less you lower your chances and "decrease" your confidence. Confidence plays such a huge part in trading that I stress to beginner traders to trade small and become familiar with your stress levels and fine tune your discipline and work on patience. All these will only make you a better trader.

Everyone will eventually get caught in a trade mainly because they believe stronger in their opinion then what the market is showing them or in my case sometimes I to hold into earning looking for a bigger payday. Sometimes it will work out but it can also end very bad. The best thing is to save the gambling  for Vegas. Even if I hold into earning ie. KRFT it should be no indication of the stock performing well. Just a friendly disclaimer (reminder) 

This week Watch List is great and you can tell I might be a little fired up in it. I am excited to be in these markets and I am extremely proud in how the HPS  system has evolved and the success it has brought people. I stand by my pledge of bringing you only the best setup out there  based on strict criteria and quality names. I know there is nothing better when it comes to finding these stocks and presenting them in a educational manner. 

On Monday we have the release of the new Dashboard with the new alert system on it. And I am happy to announce the beginning of a new feature here on DTR  "Guest Trader of the Week" Where i will let a member of the DTR community be in the spotlight and have there trades posted in the trade alert box. 

This Week's  and the first Guest Trader is DV8 He is a very active trader in the room each day. I have been tracking his performance over the last few month and he has brought an abundance of successful trade calls to the room. He post his real time entries and exits. He is a great member and proud to have him as a guest trader. I hope this feature brings new traders into the spotlight where we can all learn and profit. This is not meant to put any pressure on anyone. I know how that can be trading in front of hundreds of peers. But I want to give back to these great trader and members by letting them share there knowledge and skills and if you find it profitable and educational  then buy him a margarita.

Now if you been with the site from the beginning days 2006-2007 you know this site started as a donation site which basically said hey if your getting value out of the site then buy me a margarita. I would have a paypal donation button and that's how it went for almost a year. I was constantly told that I needed to charge for the time I put in and the research I did. I gave in and instantly took a pay cut meaning the people who were donating in some cases 100.00 a week now only had to pay 14.95 a month. going on 7 years later I have only raised the price twice  to 24.95 and currently 29.95. that's basically a dollar a day to have this research, education and community delivered to you each day. Not to mention that anyone who subcribed at a certain level was locked into that price never to go up that has been my pledge and it continues till today  I am happy on how daytradingradio has evolved over the years. I give all i can and don't ask much in return. So with this new feature  "Guest Trader" I hope you all pay it forward to those traders that make you money and teach you something new. DV8 (Dane) paypal donation email info@approachnet.com Remember that for Monday. 

Back to the Watch List

With the market extended and trading up to a recognized trend line I want to see how far we push through the line or do we gap down Monday. With recent employment numbers "so so" I can't see the target unemployment rate of 6.5% being touched anytime this year. So I would expect further Fed Support into 2014. Between that time and now I would expect the market to get tired and consolidate or retrace some, but I am not looking for any major correction. I continue to add to the HPS trend line alerts and when they trigger you will see them in the new alert system. these will always be great opportunities to trade off of. The 60 minute setups will be key this week and I hope to repeat this past week's success.

The Stochastics in the above chart are very bullish even though we are at the trend line. Overall outlook I see us moving a bit higher next week and getting a pullback soon after that during the week.

Have a great Weekend

DTRS