At last the market recap for February 4th. It has been quite a busy week with our move from India to the United States. We will be spending the next few weeks in New York City attending the traders Expo at the Marriot Marquis near Times Square.
It was my last day in India and it was a bittersweet ending.
Normally when we start living overseas we immediately procure an apartment. Due to the inconsistencies of service, mainly internet and electricity, it was promptly realized that India is not a Third World country but a Fourth World country.
When one travels through the subcontinent there is no in between. It is truly a land of extremes (click here to read our India travel blog). Someone that depends on reliable Internet has to secure first class five star accommodations in order to ensure that the Internet will be reliable (and fast).
We saw amazing things and even started to reconsider our efforts of opening up a day trading center in India.
While we don’t plan on physically opening an office in India any time soon we do still plan on having a presence in the country. We are going to focus on the two major financial centers of New Delhi and Mumbai.
I can hardly contain my excitement of the week we’ve had so far in February. The market really started moving and respecting our areas in order to maximize our profits. Another member of the LTD Project is going live on Monday and we can’t wait to share his results.
Once (not if) he successfully has his first few weeks of profitable day trading our training program results are going to increase significantly. We already have an increased success rate of over 300% of the industry average.
Only 1 out of 10 people day trading actually make money. So many of our students do so well that we actually have them run our live classes. We just wrapped up three full weeks of student expert classes.
February 4th was a beautiful slow-moving day or any trader could have ended profitable.
It’s quite easy to maximize profits when the market is trending in one direction. This was the ideal scenario on February 4th.
It is important to understand how the market is moving and be able to identify the movement of the market right at the open. Even reviewing our trades every week we are able to identify market movements that allows us to adjust our trading.
February 4th saw a great trending day without any significant runs. The best way to explain it was small spurts as the market continued to provide a considerable retracements.
Starting off the day with such strong momentum to the downside it was immediately clear to be aggressive on shorts and be conservative on longs. After the market broke the major area of support it was off to the races. With no clear runs and the behavior to the downside it was best to leave targets in place and continue to reenter until the trend failed.
Alas, just after 12 PM Eastern time the trend finally failed giving the first loser of the day. There were a total of five Pro trades that were taken that netted an extra 7.5 points.
Stay profitable my friends.
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