Holy Hell, what a week! If you wanted to know what it felt like when the coyote strapped an ACME rocket to his back in his relentless pursuit of the roadrunner, this week of trading would be it. Ranges the biggest in history, every news outlet has their own reason for it but really not having a clue. Regardless, we as traders don't care, just trade the crap out of it! Be careful if you're not confident or trying to fine-tune your trading strategy, this isn't the week to do it. Standing aside is a completely valid strategy, see rule #8.
Have to say this week gave me a bit more anxiety than normal but exhilaration came with it. Had some great stretch targets but also had some stop hits... and in a hurry... Whew.
I walk through a few setups, entries and exits in the video and overall reflect on the week in review. The first minute of the video is how it felt while trading this week... WooooOOOOooooo.... Ahhhhhh... Whew... repeat. If you don't want that excitement, start at index 1:00 min. But, if you can put yourself in their mental state, you'll get what I mean. If you don't hurl it makes you a little stronger for the next time.
Hope you had a great week of trading as well...
Guten Tag Traders,
Been optimizing the setup criteria for the strong trend following setup, both long and short over the last couple of months. Today happened to get both the uptrend entry and downtrend entry in the same day which is unusual but nice opportunity to explain what these setups look like.
Interesting that the volatility has been increasing lately, usually don’t get this at the tops so seems like more new highs are on the horizon. Long term investing is certainly paying off, just received a statement on one of my accounts and it showed +37%. Haven’t seen that in a while but I’ll take it!
Attached a real time trade recording as a video is worth a thousand pictures, right?
Bonne année Traders,
Caught a nice little long trade to start out the first full week of the new year. Likely would be more in it to the long side but sooooo slow, not worth the risk of staying longer into the afternoon. Don't record the actual trades that often as I find it a distraction, one of the reasons I've been resisting a trade room. If there would be enough interest maybe I'd reconsider, not sure...
Well, with out further ado...
Had a decent trade early into the day, and good thing, that's all there was for me was the one. Seems like the days of "over trading" are behind me, or at least on-hold. Good riddance. This little trade shows the outline of how I take trades, what I'm thinking and why. It's good to look back at what you've done and critique your trading even though sometimes it's tough, especially after a loss. Sometimes the trades aren't as smooth as this one as the market is ever changing, but the nuances are similar time after time...
Anyway, hope you enjoy the video and if it is useful to you I really appreciate a share on one of the side buttons on the site...
Decided to do something a little different since the action today didn't offer up any entries. In this video I walk through last weeks setups, entries and follow-through (sound familiar?) during my normal trading day (first couple of hours). It's so important to follow your plan while trading and that is only possible if you trust your plan. No "figuring out" how to trade while you trade (B.S. Trading) and that's only possible if you believe your plan. I had a comment the other day asking "...what if the stops move to here... and after the bar does this and wait for this then..." good gravy. Not sure why we're inclined to make things so complicated, maybe we're so used to seeing plans that are incredibly complex and we are conditioned to think that's the only way they work. Sorry, doesn't do it for me. As my plan evolves it gets simpler, not more complicated and it makes it easy for me to follow, or like today, sit on the sidelines.
Anyway, hope you had a great trading day, and if this is useful to you I always appreciate the share!
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