I'm going to make today's recap quick because, well, it's Friday! One thing that definitely wasn't quick was today's price action. Friday's are often a bit slower but combined with what was a fairly low energy week so far it wasn't any real surprise. What this meant was that I needed to be a bit more conservative in my approach in terms of what trades to take and when to take profits. Read more
It seems like forever since I last posted a recap even though its only been a couple of weeks. I plan to keep them coming far more regularly now that I have a lot of my other work wrapping up. What work is that? Mostly it's a lot of behind-the-scenes stuff here at Samurai Trading Academy as I fine-tune the curriculum that will be available in the near future. In the past year I've been working with a lot of traders and one request that constantly comes up is that they would like to see a more involved training approach in live markets each day. I considered doing this in Forex (another market that I trade) but the day is just too long and there are too many times where the market is flat for extended periods of time. Read more
There's only one day left in the week and its been great so far. It wasn't a big day with only 4.5 points banked but when it comes to trading well the number of points made shouldn't be the main focus. Read more
The excellent start to the week continued today. Although we aren't seeing huge movement in the overall market we are getting excellent price action and some nice swings.
Today's trading was all about being conservative in our targets due to the upcoming FOMC Statement release later in the New York afternoon. What this means to us as traders is that we need to understand how an important upcoming release from the FOMC may impact market sentiment hours earlier so we can plan accordingly. Read more
Today was very interesting because there were a few potential points to be made that I missed out on. It wasn't a lack of focus that made me miss them though, it was simply the price that had to be paid on this particular day for higher quality trades. The three blue circles on my chart were all potentially valid trades that I didn't take because of market factors that lowered their probability. In the end two of the three trades worked out for 2 points which meant if I had taken all three I would have made a decent profit. Contrary to common belief however, trading isn't all about making maximum profits. Read more