We have the video ready to go for those of you who were not able to attend the live UMT Training today. The video runs about 80 minutes and we cover a number of topics along with answering a host of excellent questions. Many things were covered and the video you'll be able to both see and hear what was presented.

If you would like to just grab the audio and go (for play on your iPod, MP3 player, computer, etc...) we are making that available for download as well. However, you will not have some of the video elements that we reference.

To view the video recording now you can go here:

http://www.netpicksllc.com/UMTDailyVideos/UMTWebinar070507.html

Give it a bit to download the initial portion and then it will stream uninterrupted.

If you want the audio only here is the MP3 file:

http://www.netpicksllc.com/UMTDailyVideos/0705UMTWebinar.mp3

Thanks and we hope you enjoy.

Be sure to attend if you can as we are going to host another call next week, Thursday July 12th - same time, same place.

Please sign-up here if you are going to attend:

https://www.gotomeeting.com/register/886223824

Thursday, July 12th, 12:30pm EST (New York Time)/9:30am PST (Pacific)/4:30pm GMT

There were a few questions in the webinar that we wanted to get back with you with some answers so what follows are the replies to those who asked...

Q. What about trading Soybean Futures?

Soybeans have three choices: Soybeans, Soybean Meal and Soybean Oil. The best volumes, which is usually where we default to first are the Soybean contract (S = base symbol) and Soybean Meal (SM) There are e-mini sized versions of each as well but volumes there still seem a bit low. Volumes per day vary but 30,000 - 50,000 contracts traded is not uncommon, though it does slow down in holiday weeks.

Both have some very interesting "daily" charts for swing trading possibilities. You can also look at tick charts if you are either looking to daytrade or if you are looking to swing trade but in a shorter timeframe, for example if you want trades to last 1 - 2 days instead of 1 - 2 weeks, etc..

Q. What about trading Wheat Futures?

Wheat is similar to what we are seeing from Soybeans. Definitely can be a trading market. The best volumes are on the full sized and not the mini for now.

As above, we would look at the usual suspects for tick charts and typically if you are shortening up the timeframe we would probably focus on short-term swing trades, though there are certainly day trade opportunities - - just be sure you don't go with too short of a timeframe. Bring up some charts and try out the various ticks we use and minute intervals.

If you have focused in on some ideal timeframes feel free to share and exchange information on the forums.

Q. How do I calculate the incrementals properly when trading TNotes or TBonds.

TNotes, in this example we'll use 10 Year TNotes (TY) -- trade in 1/64ths. You will typically see it shown such as: 104'22.0 or 104'22.5 -- which basically is 104 44/64ths or 104 45/64ths. TBonds trade in 1/32nds so what you are seeing in Tradestation for example is they show it in 1/32nds but extended out to the .5 decimal.

What you can do with the incrementals on the TNotes is the following. If you have an incremental for example of 0.04520. You just take 0.04520 x 64 = 2.89 -- adjust up to 3. That means that you will add on 3/64ths for the incremental. If the high of a bar is 104'22.5 = 104 45/64ths then your set-up is 104 48/64ths which would convert to 104'24.0 (just cut the 64ths in half to convert to this format)

You could also choose not to get as "fine" to the 1/64ths and instead convert to 1/32nds. You could go 0.04520 x 32 = 1.45 which means that is 1.45/32nds -- you could adjust that up to 2/32nds and then just take 104'22.5 + '2.0 = 104'24.5 -- it is slightly above the example above because we rounded up further.

30 Year TBonds trade in 1/32nds so you would take the incrementals there and just x 32. For example, 0.07701 x 32 = 2.46/32nds -- always adjust up and you get 3/32nd. These are simpler for most people to initially learn but volumes have been quite a bit higher on the 10 Year Note in comparison to the 30 Year Bond (US) so just a little practice and it will become second nature -- it's just a bit different to trade an instrement quoted in fractions.