Today is a sad day in the world of The Day Trading Academy, I have to leave Barcelona. I decided to buy a flight to London considering the fact that I have tons to do with the revamping of the training program in addition to attend a handful of Expos, both day trading and travel related.
I did do a bit of sightseeing as well and got to see some of the famous I feared Barcelona; La Sagrada Familia (2nd time), Park Güell (were many of Gaudi’s popular work is), and the famous architectural buildings that Gaudi built as well. I plan on coming back to Barcelona because I didn’t get to enjoy it as I’ve been focused on redeveloping the program another business projects I have.
I’m going to be talking soon about how I am revamping the curriculum to make it more powerful and I have already gotten some great feedback to the minor changes that I have already done, extremely excited about that.
The volume was a bit higher than average based on the new higher level of volume that has been established after the record low volume in September and the movement was quite good as well.
One of the things that we have to understand about trading Eminis, and just trading in general, is the fact that the market is going to move with certain patterns over time. One of the reasons why I love coaching my traders is because it keeps me on top of how the market is changing over time.
If you look back at the activity of this week, October 1 to October 5, you will find that every single day started off by respecting a resistance area.
Go ahead, have a look.
As soon as the market broke through the area the market usually started to try and very strongly that direction. I think one or two days we had a situation where the market exploded in one direction and then just turned around, the idea here is that there’s a pattern forming we have to identify that.
One of the same reasons why took the trade through news on the third, the pattern that we have been seeing for trades with news dictated that. This is one of the main reasons why indicators are so overrated.
Most people find a way to set rules in order to be able to tell weakness and market shifts when you pay attention to what the market is doing and understand how that movement works, you don’t need indicators.
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