Today was the first day back for many of the 'A" team. Those are the guys and girls that run Wall Street and have been on holiday. But today, many of them arrived back in the office and ready to create a bit more volatility in the markets. The VIX closed at 15ish on Friday and today opened at 17 as news from Afghanistan kicked in and we started to see the market drop.
Resulting in a quite brutal first hour in all honestly and we were not making a lot of money. Why? Because we had dropped to sit right on our daily support numbers and we were seeing signs of the market reversing. And then we got the long signal we had been patiently waiting for.
We have a simple 5 step process to trading success.
Rule number one: Check the higher timeframe (in our case the 60 minute chart) - what is it saying?
Well, it had hit our major daily support level and was reversing so we know we were looking for long trades.
And then the profits just rolled in. A super days trading as you can see in our roundup which starts the video. In the rest of the video you can watch the actual trades recorded live. Yes, live traded. Not recorded after the fact, live and with up to 100 people watching throughout.
Star trade of the day? Well from an ego perspective you will see a 104 point YM long trade. From a profit perspective we have an NQ trade (multi-contract) that make about the same amount of money but its not such a sweet trade from a learning perspective as it is faster. The YM trade, its a doozy for you if you want to learn to trade like a professional.
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