We are in mentorship week. Of course market was closed, but we slipped in a couple of trades in thin market.
On a sell stop to short at 25235 at 9:31 Eastern we grabbed 15 ticks.
Shorted again at the consolidation of 25158 at 9:58 time frame.
The lows were put in with a rare triple bottom at 11:06 am.
Some traders took a light long at 11:18 am.
Looking for more activity tomorrow
We covered all shorts initiated on Friday. As we suggested, only the most well-funded accounts should have traded today from the long side.
If we can get the average true range down to 35 or so we can begin to trade normally.
Great job all.
Very quick reminder. If you are following the trend (Duhhh-up lately) it is ok to buy on a break out of resistance.
Pullbacks, when you get them are even better risk-reward trades.
But counter trend trades (shorts for now) have to be made just after a market is overbought. If you wait after the Dow goes down 50 points:
IT IS TOO LATE!!!
So we tried to poke the bear yesterday for a very short time and guess what he went back to sleep. Not sure when he will show up but for now it is still bull time…..
Do not get off Track…..So had huge opportunity on both side of the market today 75 pips down and a ride all the way back and more. Learn to get a good entry and stay on track.
Well today was an up all day affair ! Buy pullbacks and then sit back. If you know when to get in.. Learn the entry points and exit points… Classes forming in Stuart, Florida Nov. Call today 772-678-8705
Great pullbacks today for some long trades. The market is in a strong up trend so as they say the trend is your friend. Though if you miss your entry it can be a losing proposition chasing the market. Learn from the Best at Dowdaddy training. Classes are forming now if you want an advantage .
So great week if you stuck to your plan. If you did not have one then you need to get one www.dowdaddy.com training !!! So we finished off the week with a nice set up this morning and you could have called it a day…. Question is did you ? 30 ticks two contracts $300 not bad for a few minutes….. Be Great
Great market this morning ! One of the secrets to consistently winning is your mental plan. Go in with objectively identifying your edge (which they can teach you at dowdaddy.com) set your risk and take money off the trade when it is available ( Move your stops) You can only make it a career with training and practice. It was plus day 135 tick @ $5 a tic.
God Bless Be Great