The market has definitely moving exceptionally well the last few days. Whether or not we make a million dollars a day or not is relative. The goal is be able to make money consistently every single day. We always try to put this into perspective for new traders that are excited about making money in the markets.
If we are able to read the markets and understand market structure that is when we are going to be able to make money every day. Markets like today are in all honestly easy to trade. Anyone can make money when the market is flying in one direction and trending beautifully.
Just yesterday we gave our new Colombian traders the task of trading September 25th on reply to try and provide a more difficult scenario. We have many new traders rising to the ranks of master trader and we can’t wait to share their stories. Soon we are going to provide more master trader insights.
Definitely look forward to sharing that and giving an insight into our new trading center in here in Colombia.
For now I leave you with our students charts from our live market analysis class this morning followed by the recap of what was possible today below:
Marcello’s overall chart. One can see that we were looking for the overall areas outlined on the left and eventually the market reached those areas. Anyone can use that technique of using long and short term Fibonacci clusters in order to gauge where the overall momentum is headed. We still are amazed how the market gravitates towards these areas.
One of the most important parts of trading is to follow one’s plan. When we start deviate from what our plan that is when we normally get into trouble. I made the mistake of getting greedy and not getting out at my set target. My 2nd and 3rd trades ended up being losers instead of being able to extract $1,000 from the first trade. Big lesson today to always follow your plan.
Click here to access all market recaps
Watch the video on the Day Trading Academy Youtube Page if you have any issues below