123 Ticks Live! Trade Management Strategies

820am EST

– Dollar index futures have just broken their sideways range from earlier this week to the downside

o Slow speed of the tape

o Average true range is rising off its lowest levels of the week

o We just broke the up-trend-line and now we wait to see where this move to the downside ends up going.

How do you draw the best trend lines?

– Start with a slower timeframe so you can see it all

– Zoom out on your chart and push the price together as much as possible so you can see as much as possible.

– Cover the edges of the price action

o High to high

o Low to low

– Look for the previous swing high/lows

– Double-check my work

840am EST

– Gold futures trading sideways

o Long term trend is down

o Short term trend is flat

o Average true range is rising

o Speed of the tape is VERY slow < 100 = very slow

1045am est

– We’ve grabbed 60 ticks out of crude oil futures contracts today

– We’ve notices that the reason we’re so profitable is because of the following:

o Simple patterns

o Simple entry rules

o Any timeframe will work

o Any market will work

o We use the best trade management strategy

 Never let a winner turn into a loser

 Profit on a 4-tick move as well as a 40-tick move

 However, I want to make sure I keep my profit and my confidence along the way

o We all want to take HUGE winning trades, but we need to be IN THE MARKET to make that money!

 Get in with a tight stop

 Take a quick profit

 Eliminate the risk (stop to entry)

 Wait to see if the market gives you anything more

10 trades today, 9 Winners

+123ticks, $1,230 usd

Only 4 contracts needed to achieve this today!

See you tomorrow @ 745am EST for the live trade room session!