It's lunch time, and I am about to go down and meet an "old friend" at the new "El Pollo Loco" that opened here in Utah last week. They are one of few decent franchises that have been able to penetrate the state borders. Hopefully it is worth a 30 minute wait.

I have two contributions that came in that I wanted to share with you.

First, the trading terminal Susan From Manhattan recently purchased. Per popular vote, here are the pics. Check it out...

Big Pimpin'

Next is the "hands off" trading system that Stan Lake offered up to the readers. As a matter of fact, I am in the process of backtesting something along these lines right now, which you'll be able to follow shortly, but in the meantime, here is his write-up. I haven't traded this system yet, so make sure you direct your questions to him.

Thanks Stan.

Hands off trading method

This method of trading is for:

1. Those that have time constraints that do not allow them to watch the market all day

2. Those that make decisions based off of emotion

3. Those that find they change their rules on the fly and not always for the better

4. Those that aren’t sure where and when to get in and out of a trade

This method is Not for:

1. Traders with too much time on their hands

2. Emotionless intraday traders with ice in their veins

3. Traders that never vary from their rules

4. End of day traders

There are upsides and downsides to every trading method. Many people are End of Day traders because many times when a trade seems to go against you if you just hold on until the end of the day when the volatility dissipates you often save a good trade or are able to exit a bad trade in a better position. Sometimes not. Here is an example:

For the End of day trader the Large red candle would have provided a large loss. Later in the week if they were back in the trade they would have been rewarded with a smaller loss by holding out until the end of the day as seen in the dragonfly doji. Both intraday and end of day traders will be have good days and bad days. Pick one and stick with it, no sense in jumping back and forth if it all comes out even in the end.

What makes this a “Hands Off” approach? All trade decisions are made and mechanically entered in advance. This eliminates all emotional decisions, gets you out at a predetermined acceptable gain or loss and frees up your time to do other things than watch your positions advance and retreat.