Want to thank everyone who joins us for the live market analysis class this morning. Even with one of the biggest news items of the year, FOMC, and a completely sideways market, we were able to extract roughly 6 pts (for beginners) from the market in roughly 1 hour. I wanted to share the charts from our student traders and Nikolai, our Bulgarian Master Trader, from their trading today for those that weren’t able to make it.
6 points for those of you that don’t trade E-minis is roughly $300 per contract. If one were trading 10 contracts that would be roughly $3,000 per contract.
Here is the overall movement from today. Hint, its sideways and ugly.
0429 NinjaTrader Chart
The one thing to point out when it comes to trading is its not about making $1 million a day. Its about being able to consistently make profits everyday.
It is quite easy to make money when the markets are booming and trending. Everyone can do well when everything is going perfect.
It is quite another thing to make money when the markets have low volume and are moving sideways. Throw on top of that the FOMC statement from today and we had a recipe for a not so good market today.
Luckily, our traders don’t need to rely on any companies to look at software or indicators. Instead they understand market structure and adapt to what the market is doing.
That is the problem with many strategies today where they have a fixed set of rules and don’t adapt. We call our powerful day trading strategy Congressive, meaning we are conservative when the market isn’t moving well and Aggressive when the market is moving well.
Master Trader Nikolai’s chart… 7 points, $350 per contract. Even with just one contract that equates to $85,750. If one assumes 10 contracts it would be $3,500. At the end of the day it doesn’t matter how many contracts a trader is using, it matter how consistent he is.
2 trades 100% winners, not bad! (trading live)
Danyel, the recent trader who went live just two months ago for the first time and had 10 straight winning days. He is now up roughly 93.41% on his account since going live two months ago. Nearly recouping all of his money, two trades, 2.5 points, trading live with 1 contract.
Hear from Danyel himself about his results
Lindsay, one of our traders that many of you may have spoken to, uses a strong focus on Macd’s and also the larger term 1600 chart. She is also trading live and managed to extract 2.75 pts. $125 per contract or $$1,250 with 10 contracts. She also used the longer term 1600 chart with assists with her entries and exits.
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Last but not least is Stan, an in house trader in training trading sim, if he continues to knock it out of the park like this he may just have a live account to trade :D. Notice how he notates the pro trades he wanted to take with the multiple arrows but one can also see the live trades he took with the actual trade markers.
Stay tuned we may be updating this page with more charts…