The flurry of excellent market movement continues! Staring at the Wall Street of Singapore called Marina Bay I only wonder how well are traders did today.
Just yesterday it seemed like we were trading in the lowest volume on record which happened to be in September of last year. This is one of the reasons why understanding market behavior and being able to adapt to it is so important.
One of our LTD Project traders has single-handedly inspired two new Pro trades. Just a few hours ago there was a slew of back-and-forth e-mails of another Pro trade that we are beginning to develop.
Many traders wonder why they have streaks of winning days and then sometimes have that one day where they lose all of their winnings. Many studies state that only 10% of day traders actually make money. The actual number is closer to 2% to 3%. The other 7 to 8% of traders are those that aren’t necessarily making money or losing money either.
These are the traders that refuse to adapt to the market.
The current market activity shines a big light into what it takes to be a day trader. When the market has low volume or isn’t moving well this is the last moment when we want to turn away from the market.
- It isn’t about switching to another market
- it isn’t about trying to trade two markets at once
- it isn’t time to wonder why things aren’t working.
Day trading is about being able to adapt to what the market is providing. YWhen the market isn’t moving well it is about conserving capital and being conservative. When the market is moving well it’s time to be aggressive and take more chances in order to make more profits.
This is why we call it the Congressive (conservative + aggressive)
At the end of the day trading is about understanding what one feels comfortable with. There is only one way to follow strong momentum and take high probability movements otherwise known as high probability trades in the industry.
The kind of activity that we’ve seen over the course of the last 2 to 3 weeks is some of the best market movement that we have seen in quite a long time.
For traders understanding market behavior is key. Being able to quickly adapt to market structure changes is the difference between profitability and losing money.
Over the course of the last 6 to 7 weeks we have had nothing but graduate master traders (students that have graduated from the program and are trading live) run our live market classes. Thankfully, we have a group of traders who I consider to be some of the best in the industry. They constantly are back testing and coming up with new ideas to share with the rest of the group in order to make everyone better.
This is really what day trading is all about making each other better.
Stay profitable my friends
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