146 Ticks Live! Day Trading or Position Trading it all makes profit!

Hi Guys!

We had another profitable day in our live trade room, taking over 140 ticks out of the markets we love to trade most.

Have you seen our track record yet? 8 of the last 12 days we have exceeded 100 ticks on only 4 contracts.

We take scalp trades, longer term trades, and we can trade any market we want…watch today’s video to see HOW!

We LOVE your feedback, please post here!

 
830am EST

– Gold futures are trading below 1200 today

o Slow chart (34 range) shows sideways chop back forth between double-tops and bottoms as it broke below 1200.
o Fast chart (4 range) shows a nice wide sideways trading range, which is ideal for taking our reversal patterns, such as the 2-step trades.

 830am
we see our first pattern, a 2-step long trade off the low of day, which is also the bottom of the trading range.

o Average true range is rising, showing more opportunity as the morning progresses
o Speed is very slow, it looks and feels like the gold market needs some more direction today. We broke below 1200 yesterday and now it feels like we need another push in one direction or the other.
o At 845am EST ive missed three trading opportunities on gold:

 2-step long on the 4 range scalp
 2-step long on the 13-range @ 88.0
 2-step long on the 21 range @ 92.3
 So im a little late to the party on gold, so ill keep watching.

850am EST

– Crude Oil futures are about to open in the PIT, so we should see more volume enter the market @ 900am EST
– Slow chart is trading sideways still after that drop from last week

900am EST

– We took our first trade of the day on crude oil futures, 2-step reversal off the high of day
o We got a nice heads up when the market traded into overhead resistance (trend Line), and we saw a 1-tick higher high into the high of day, which always makes for a nice potential reversal.

– Aussie currency futures are trading sideways on the slow chart
o Trading slow and choppy at the open of the day on the fast chart

 Speed < 100 = very slow
 We will need to wait to see more from this market today.

915am EST

– Euro futures are trying to find new highs, but running into overhead resistance @ 2600
o We have double-tops at 2611, which means this slow and sluggish market today may not have what it takes to break those new highs.
o Fast chart shows a sideways, wedge pattern, and very slow speed.
 We need to see more from the euro today before we start to trade it.

935am EST

– Everything appears to be looking for more direction
o Crude oil at big round number of 73.00
o Euro at its open of day
o Gold at its open of day
o Aussie now coming off the open
o Russell is also at the open of the day
o Remember, the open = nothing has changed, which usually means flat and choppy price action, which is not a good place to trade.

1015am EST

– We took our biggest trade of the day on the Russell

o 21-range chart, so a slower pattern to develop, and we used wider targets to earn more profit on the trade

 We are a little frustrated we only got our first target filled, but we learned a valuable lesson
 When trading into the high of day, look to be aggressive with that profit target if you see the market slowing down
 I should have moved my 2nd target down to FORCE it FILLED when I saw the HOD being tested close to our target with speed slowing down.

1030am EST

– We took 3 winning trades on the Russell, but the market lacked FOLLOW-THRU, which means the market didn’t move very far for us on each trade.

o We got all the rules lining up to enter the trade
o We get our first profit target
o But then the market slows down, momentum shifts, and the market reverses
o Good example of a day without much follow thru.
o Another great example of how flexible and consistent our trading results are.

 Tuesday was a trending day = 120- ticks
 Wednesday (today) is a sideways day =

1045am est

– We notice the markets are all VERY slow
o Average true range will confirm if the fundamentals in the market should keep us out of the market the rest of the morning

 Gold = rising = good!
 Aussie still rising = good!
 Euro is dropping = bad!
 Crude Oil is dropping = bad
 Russell = sideways, was rising = wait and see

o This tells us that although the speed is slow, and we have range-bound/sideways markets, we still have widening trading ranges and the opportunity to see more trades today.

o If we saw slowing speed and the ATR was low, and dropping, we would be very concerned, but that is not the case today, we still have rising ATR.

1100am EST

– We took our last trade on the crude oil futures, but we notice that this trade may NOT have been worth the risk.

o How do we know if a trade is worth taking the risk?

 Strong speed
 Increasing ATR
 Lots of BIG MONEY
 Lots of room for the trade to run!
 The market should have already shown us some big moves already