59 Ticks Today! Read the Future by Identifying the Market Correctly

SchoolofTrade.com Daily Commentary 02-03-10

One of the easiest ways to improve your trading is to understand HOW to IDENTIFY the market each day BEFORE you begin trading.

The process of IDENTIFYING the important aspects of the market each day begins with looking and listening to what the market is trying to tell us!

We open our charts, and before we begin calling trades, we have to prepare…

• What does the market look like today?

o Trending vs. Sideways?

o High vs. Low Volume?

o Big vs. Small Money

• What type of Events do we have today?

o News events today

o Political Speakers today

o Big Events today

• What do we have the rest of the week?

o Important event tonight?

o Important event tomorrow?

o The rest of the week?

o Holiday this week?

As you can see, there is a LOT to look at in order to feel confident that we know where everything is.

Once you review these possible variables in the market, we can then ADJUST to what we SEE ahead of us.

If we have low volume…we know what to do.

No trend…we know what to do

Lots of news events…we know what to do

No Big Money yet? We know what to do!

If getting off on the right foot each day has been a problem, and it usually is for new traders ( take me for example) this is something we work on EVERY DAY in our live trade room!

Come join us tomorrow and learn how to properly identify the day ahead. Know WHO, WHAT, WHERE, WHEN, and WHY for all the markets we trade.

Being prepared for the day is like having a good breakfast. If you miss it, you will regret it very soon! 

We took 5 trades today, had to stay patient to make sure we had everything line up for us, but @ 11am est price action gave us what we needed!

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Visit Our Home Page For More Information On All Of Our Packages