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
It's always nice when Monday starts the week off with some good movement and quality trading opportunities!
It didn't take long for the initial New York Open chop to settle and for the market to provide our first trade which turned out to be an excellent runner. The initial target was 2 points but the move down was a breakout and also quite strong. Due to these factors it made sense to risk a pullback on the trade to see what the reaction was to news and if momentum would continue to the downside. Although the general rule is not to hold a trade through news there are situations like this where the market momentum is on our side that it makes sense to take the risk of losing a few ticks. Of course, it's crucial that we were already up over 2 points on the actual release which gave us some breathing room. Read more
After a slow day yesterday with only a few good opportunities today's action really took off out of the gates! Assuming you were able to recognize the market structure and momentum there were some excellent points to be made in just a handful of trades. Read more
It seems momentum in the ES (S&P 500 E-Mini) is back and the day trading is good! After a slow start to the year with some choppy (but still quite profitable) days it's definitely nice to see some smoother moves. The pre-market was showing nice swings following the US holiday so the expectation for some […]