Good Day Traders!
Hope you all had a great week of trading! Quick video reviewing what I’m seeing in the longer term charts with the recent volatility and shorter term day trading setups over the last couple of days. I’m not a big fan of posting trades setups but followers always ask for these so here ya go…
Volatility is screamin'... Be really careful as it is easy to get chopped up by putting stops close, or even normal position. If you're building on a smaller account, may want to sit aside or paper-trade for a while and keep your account intact. With this volatility It's nice when the action goes in your direction as is really moves, but when it doesn't you not only can get whacked, you can also be the victim of huge slippage. Had a couple of stops this week that were slipped a few of ticks, but I've had in the past where I got slipped 3 or 4 points, yes, points, not ticks. To say the least it sucks, just trying to save you some pain. Tradestation increased the daytrading margins way up in the last few days so be sure to watch your margin as well. Don't want to get your account locked because you missed a margin change.
Heck of a week, expecting more of the same to come…
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