Don’t Lose your Focus during CHOP & Live Fast Track Trading

Best ways to spend your time during slow market action. Today was good example:

• We had speed at 900am
• Speed slows down at 10am
• Speed picks up at 1130am
• What do we do during that 60-120 minutes of waiting?

3 things I want to do to spend my time wisely:

Learn your patterns:

• Use the trade room slides from the beginner course
• Use the download from the advanced course on the Highest % Use of the patterns
• And review these every 10 minutes, or as you have free time.
• Read the Tape (practice the brackets)

Remember that this is a SLOW time of day, so this is not meant to take trades with this technique, this is meant to use your time to sharpen your skills

Watch this video:

Focus on the most important areas on your chart:

• Where are we?
• Where were we?
• Where are we going?
• Where is the wedge Highs/lows?
• Channel highs/lows?
• Usually the morning prep has ALL of these levels marked for you.

Today we had low volume, we look for a double-confirmation or “the 2nd push.” We cant just jump into a trade with Red Pace Of Tape b/c the market isn’t strong enough to give us that much confidence. I look for the big money enter the tape. I then look for 1 of 2 things:

• Continuation of big money
• Small money comes in with lots of speed

Then enter with the next batch of big money (this now confirms the control in the market)