Editors note: One of the things I love most about our traders is the amount of unforgiving courage they always show. It wasn’t enough that one of our master traders Craig, code name Geezy, make money the after Christmas. No sir. He also was able to make well over 2 points on the lowest volume day of the year. This speaks volumes to the ability of our traders to be able to read the market no matter the condition. Another one of our master traders, the one and only Iceman, also went live during the end of the year and was still able to make consistent profits. Love to see these kinds of days from our traders that truly show the ability to read the market and not pay attention to indicators or day trading software.
Look forward to catching with Geezy at our day trading seminar in February.
The Market is Still in a Gift-Giving Mood.
The last two weeks of the year typically have the lowest volume and quite frankly I get bored with it moving so slow, but this year seems different. The price action is slow, yes, but the movement is still powerful and the trades are available–if you dare.
It was the smallest premarket I’ve ever seen, but when the market finally opened and did not race back to the midband I started thinking that there was still some strength in the run from Christmas Eve when the market closed early a couple of days ago.
Based on that I took that first trade: +1.00.
A probe trade long–an educated guess, if you will, to see if I was right about what was going on. With that guess being correct about which way the market was going I aggressively LOST 3 ticks on the second trade, but I GAINED the knowledge that the market was mostly headed for a continuation up–just not immediately like I thought.
Slowly and steadily, but still going in only one direction. I took the next two trades to the upside, picked shorter targets and sat there bored waiting for them to close as winners. Four small trades +2.75 points, but already 2 hours in and the volume was VERY slow. I’m done.
I just didn’t have the patience to wait around for the last trade I marked on the chart. It’s a very nice V1–which for me I have codenamed: Phyllis”. I will not elaborate on why I call it that right now, but it was the trade of the day if you had the patience to hang in there for an hour and 45 minutes.
Overall its the holiday season, but still some good trading so far. I hope Santa continues to be good to all of you as well.
Peruse all of our recaps here or stay tuned to the blog for more updates