Editors note: The Day Trading Academy’s Blog features recaps from our master trades. This is a recap from one of our master traders that is currently reporting live and direct from Puerto Rico! We are going to be meeting up with him (and hopefully crashing his wedding) to talk about trading and be there while he travels to Puerto Rico.
Hey guys, wanted to do a quick recap for today.
Feels like the market has been crawling the last two days which is a big change from the last time I was able to trade. My schedule has had me so busy that I have not even opened Ninjatrader for a week and a half. Last time I looked at the market we were getting beautiful movement and high volume.
The good thing about day trading is you can make your own hours and if you’re making the right decisions, you don’t have to trade that much to earn a stable income. It’s the definition of financial freedom in my opinion.
As you can see from my chart, I decided not to take the trade at 932 because I wanted the market to show me something. The pre market showed us absolutely NOTHING and usually that’s an indicator of things to come. After I wasn’t filled right at market open, I decided to wait and see what the market was going to do. Any other time, I take the trade at 932, but I wanted to see the market show me it was going up. In my opinion, the second pullback was a lot less compelling, therefore I didn’t take it.
After a nice move to the downside, I was not filled on two trades. With a support area forming, I took a quick instinct trade to the upside. I saw three strong bars and with the area forming behind me, I felt it was a good chance for a scalp. I ended up holding for 1.5 points and calling it a day.
I was a lot less aggressive than usual today because the market was not tipping it’s hand. I took one very aggressive trade based on the movement the market was showing us after 30 minutes of movement.
If you weren’t in class, I am in Puerto Rico about to meet marcello. Here is a look at my trading office: