184 Ticks Today! Biggest Day of 2010!

We had a slow week this week in the markets, until today!

With today’s Jobless Claims report @ 830am EST, followed by a report on the Dollar Index jumping, it was easy to see a LOT of trading opportunities today in the live trade room.

We got started early, with patterns showing up as early as 839am EST, and we watched as the Crude Oil, Euro, and Gold Futures produced high percentage patterns all morning long.

What was the biggest challenge today?

Believe it or not, the biggest challenge today was NOT jumping into the patterns that didn’t fit our rules.

This was difficult though, we saw SO many patterns, so many potential entries, so how did we choose which trades to take and which to avoid?

Was momentum curling up for the long trade? If not…skip it!

Did we have big strong buyers at the High of Day? If not…short it!

Did we have the Pace of Tape Indicator increasing in speed? If not…wait for it!

Its important to remember that days like today test our ability to say NO to the market. We aren’t used to that feeling.

Most of the time we are BEGGING the market to give us more trade opportunities…today was not the case.

Our biggest challenge today was being selective!

Do we see these days often?

We see days like today about as often as we see days like yesterday.

The big days average out the smaller days, and on days when we LOSE money, we can easily make that money back on days like today.

9 trades today, 9 winners!

TOTALS = 184 TICKS, $1840USD

Only 4 contracts needed to achieve this today!

Tomorrow is Non-Farm Payrolls @ 830am EST, so be ready for that!

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

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