Today was Australia Day - a wonderful country with great people and an average cricket team.  Anyway, happy birthday to Australia on a day where the markets remained brutal.  When we say brutal we mean it, with some absolutely choppy as hell conditions. 

$1000 candles on the NQ make it very hard to trade for the average person, which is why we showed our clients how to trade choppy markets profitably once again.

As you will see in the video below we were really patient for the session, taking a great short on the YM for $390 profit and finishing with a $100 profit on the YM again.  So how come we aren't $380 up?  It's a sad answer - we had a losing trade.  Why?  Because we had our stop too tight on a long NQ trade - we were stopped for $200 on an NQ long trade.  It was truly gutting because the trade went on to make over $1000. 

That said the risk was too great with the crazy choppy candles so we cut the trade when we saw the market start to reverse.  With the NQ covering over 50 points on several candles ... we knew it was a risky trade and it just didn't work out.   It has a high probability of success as the result showed, but ... we intervened in case the whipsaw was too great.  No worries .... another positive day so we are good with that.