On October 26th, 9:00 pm West Pacific Time, a crowd gathered on the Manhattan Beach pier.
A passerby stopped to see what the excitement was about, and imagine their surprise when they found Nate, Todd, and myself sitting comfortable on our UCLA camp chairs and using a Verizon hotspot to trade the Asian session, which was making its own waves—3 ticks up 2 ticks down.
It’s not that we expected to make much money during the doldrums of the Asian session, but we wanted the experience of trading on the beach! And we had a blast! We were 30 bees on a beach–with a whole lot of curious bystanders! It wasn’t the fastest trading of the day, but it was profitable with some 54 pips of combined profit by sessions end.
That was just one highlight from the Manhattan Beach summit, some others were:
On Monday morning, Melinda predicted the close of the Wednesday 10:59am candle would be 1.1064 – The actual close: 1.1065. She came within 1 pip of calling the actual close! Impressive analysis, Melinda!
We split the summit attendees into 6 teams, and each team created their own trading strategy–presenting the strategy to a shark tank of Nate, Todd and Shawn. Our jobs were to choose a strategy, and trade it in a competition on Wednesday morning. The winning system: Bollinger bands made 2 winning trades for a total of 11 pips!
4 of the 6 trading of the participants’ strategies were profitable!
Todd pulled out 233 pips of profit in the Tuesday morning trading session. He was kind of quiet most of the morning… When confronted, he admitted he was trading. We told him there was a program for that!
In the spirit of crowd intelligence, we set up an experiment and polled the room to see how the USD would respond to Wednesday’s Fed Announcement. 37 of the participants said the USD would strengthen, while only 12 said it would weaken. We shorted the EURO, and made some quick money on Wednesday!
But the best part was watching our outstanding Apiary traders develop confidence in their own trading strategies! We’d like to send a HUGE shout out to all the traders who attended the LA Summit; we learn just as much from spending time with you, and it was a real privilege to trade with everyone who attended.
Thanks again, and Happy Trading!