Michael Bridges
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Mentor Mike's Thursday TRADING ROOM, 6/5/14

Fellow Traders:

We got up to $1,521.50 in the ROOM today – GADGET territory.  But, when the last long trade before noon started heading south, I pulled the plug and kept $455.  On the preceding long trade, I greedily entered on a weak bullish cross of the fast MACD instead of waiting for the slow MACD to align.  Jumping the gun worked that time, but when we earned only one target on such an early entry, I should have known it probably wouldn’t work again.

The TRADING ROOM is a training ground.  We want to test our skills in real time by taking as many trades as there are signals that appear good.  But, when trading live on your own, remember the immortal words of Kenny Rogers, “you got to know when to hold ‘em and know when to fold ‘em.”  The most precious commodity any of us will ever have is time.  Sometimes reaching a reasonable monetary goal and walking away to spend that precious time on another endeavor is the best strategy.

Happily, I did not take the last long in my personal account and finished with $1,776 - appropriately patriotic for someone who uses red, white and blue indicators.

See you in the TRADING ROOM next Tuesday.  And, don’t forget Saturday’s webinar.

Michael K. Bridges,President


Futures and Forex Trading & Instruction

3844 Mayfield Avenue

La Crescenta, CA 91214-2311

Tel: 818-249-4207

Cell: 818-268-7110

Skype: michael.bridges49