We are hosting a series of live classes this week for everyone that is part of the training program and the week could not have started off any better. July 30 was one of those days that day traders live for, one of those days where you end up with a big smile on your face at the end of the day.
Everyone that attended the class and sent in their charts did a fabulous job of managing their trades and minimizing risk. There was even additional opportunities in order to maximize reward as well as a handful of pro opportunities, in a worst-case scenario there was only three losers and a best case scenario there was only one loser for the entire day.
The big lesson that we talked about was risk management because that would have been the difference with one losing trade or three losing trades for the day.
It isn’t just important to have a stop to protect yourself, it’s also important to be able to manage that stop affectively by identifying market conditions. I’m going to be visiting the interior city of Governador Valadares which happens to be the location of paragliding world championships this weekend and I have decided to have a live training event on Wednesday, August 8th. If you are interested in signing up for the webinar click here.
Student charts from traders; good, bad, and works in progress:
Roughly 3.5 points in 1 hour
Student Chart 2: 1.75 Points by in the first hour of trading
Student Chart 2 Part 2: 2.5 points from 9.30am EST to 12am EST.
Student Trader#3: 0.75 points in the first hour of trading
Click here to see the complete list of Market Recaps