Today I was able to squeeze 6.5 points out of the market, but felt I left a bunch on the table at the same time!
I was unable to trade as long as I wanted because I had some training to do for my hockey team.
Next time I do this I will attach a picture of me trading in the players lounge of our dressing room.
The market started off with a nice trend to the upside with a picture perfect 2 point trade coming right as the market opened.
The second trade shows the kind of trade that turned me from a trader struggling to hold his head above water, to one that is making money most days. When I was struggling I was not taking these kinds of trades. If you look closely at the move at 9:42 many struggling traders would view this as a “failure to launch,” and assume the market was heading down. We have the FYL going flat and two strong bars to the downside and many traders get scared.
I have been there I know exactly what that feels like, but try talking yourself through it. Your wife, your dog, and the fly on the wall might think you are crazy but it helped me and it may help you. It should sound something like this;
“We have a nice trending market to the upside, those strong bars to the downside mean nothing but I am going to wait for it to slowdown, and then enter!”
Where you exit that trade is completely up to you. I like to exit at the first area on those types of trades unless we have a very strong trend.
The only other trade I want to talk about is the first trade I took to the downside. The market was hovering around the midband after our nice trend to the upside and it gave us a nice snap to the downside. If you look at the 233 chart below, you will see the snap. I entered the trade aggressively, looking for the continuation.
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