4 great trades, going 4 for 4 with a total profit of $1,120!

Today we saw great price action in all the markets we traded, allowing us to be very selective in our set-ups and wait for the perfect trade to come to us. This certainly paid off because we were able to take 4 great trades, going 4 for 4 with a total profit of $1,120! That’s a 25% ROI for all of our traders using a $4,000 account!( 3 Key Components To A Day Trading System Video) All of our trades came after the 8:30am EST U.S Unemployment Claims as well as the U.S Equities market opening at 9:30am EST.
We were able to take our first trade of the morning on the Gold market (Symbol GC). As you remember from yesterday, Gold made new all time highs in the futures market, topping out at $1153.4/oz. Throughout most of the morning though, it was clear to see that larger market participants were still closing their positions from yesterday, causing the market to pullback significantly in price. When all was said and done today, the Gold market’s low reached $1130/oz; and bringing with it some great trading opportunities (Identify Market Sentiment For Day Trading Futures). Once the U.S Equities market had begun, and volume had now become sufficient for us to trade on, we began looking for possible price patterns. With added volume in the market, the selling pressure in the Gold market began to build, and price action was predominately to the downside. We saw our first set-up at 9:53am EST; taking a Breaker short pattern at 1135.2. Upon entering the market, we continued to watch our technical indicators to see some follow through in price action, which didn’t take long to occur and we quickly scaled out of our trade at all three of our profit targets, for +4 ticks (2 contracts), +8 ticks, and +15 ticks, for a total of +31 ticks ($310).

Our next trade, which also came on the Gold market, didn’t occur until almost an hour later. We waited patiently for more news events to pass in the U.S, and allowed the spike in market volatility to calm down before entering the market for a second time. Between our trades, the Gold market simply consolidated in anticipation for the U.S news to be released, and as soon as it was, the sellers quickly took over the market once again (Gold Futures Day Trading Video). At 10:50am EST we once again entered the market short, using a Breaker pattern to identify our entry price of 1132.2. Once our order had been executed, more sell orders began scrolling across the ticker tape, pushing the market further down and allowing us to scale out of our trade once again with all three profit targets; +4 ticks (2 contracts), +8 ticks and +16 ticks for a total of +32 ticks ($320)!

After our second trade had been closed, we scanned all of our markets to see which ones were moving the most. We soon realized that the Crude Oil market was producing some great swings in price action, and looked for a possible entry into the market. Similar to the Gold market this morning, a majority of price action was to the downside, and it too seemed to find a short-term bottom around the 11:00am EST hour. With price action in the Crude Oil market forming a clear triple bottom, it was evident to us that the sellers, for the time being, were exhausted (Price Patterns Technical Analysis Futures Video). Once this had been seen, we began looking for a possible long entry. At 11:23am EST that entry came from a Breaker pattern, allowing us to enter the market with a basis of 77.96. As soon as we entered the market, it seemed that all factors of the trade were in our favor, as the market quickly shot up. As price action continued to the long side, it gave us some great profits of +5 ticks (2 contracts), +8 ticks and +4 ticks for our last profit target, for a total of +22 ticks ($220).

One of the great traits of our strategies we utilize to make trades is that they promote an almost constant position in the markets. All that is needed is somewhat steady price action, because as price reaches one extreme, we can trade with it, but we can also take the opposite trend and still find profits. This is exactly what happened with our final trade; previously we took the Crude Oil market long, but as soon as the rally found a top, we looked to take it short as well ( Crude Oil Futures Day Trading Video). At 11:33am EST, we found our opportunity to short the market, using a 2-step pattern as our entry technique. Our basis for the short trade was at 78.17, proving to be a great entry because sellers quickly changed the short term trend of the market, allowing us to catch a great runner, for +4 ticks (2 contracts), +8 ticks and +9 ticks, for a total of +27 ticks ($270).

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