More Profits For James Wave Traders.

Today was another great day of trading for all of us at the School of Trade. An important aspect I’d like to touch upon today is the fact that when you’re trading, it is essential to always be well capitalized. Here at the School of Trade we recommend all of our traders to start out with a minimum of $4,000, this allows them to trade many different markets, from commodities and currencies to stock index futures (Futures Day Trading Account Management Video). With the minimum trading account, we were able to take 2 trades today, and closed our day 2 for 2 with $410 in profits! (10% Return On Account), let’s review those great trades…..

Our first trade of the morning came on the Mini-Russell (Symbol TF). Now, if you remember from yesterday, the Mini-Russell saw some choppy price movement, but the trend was still up overall. Today was just a continuation of that trend, starting with a strong rally after the U.S Equities market opened, amid, with minor pull backs, till the lunch time hours of trading stepped in, allowing it to break into the 600.0 price level. Our trade occurred right after a significant level of volume entered the market at 9:30am EST, with the opening of the U.S Equities market (E-MINI Futures Day Trading Video). At 9:40am EST, after a brief pullback in price, we looked to join the buyers and trade with the trend with a Breaker long. Our entry was at 594.9, and with the stochastics curling sharply to the upside, we were able to use our NinjaTrader ATM strategies to lock in profits at +4 ticks (2 contracts), +8 ticks, and our final contract closed with +9 ticks for a total of +25 ticks on the trade ($250).
The second and final trade of the day came on the Gold futures market (Symbol GC). Yesterday we saw a rather large rally on the Gold markets, rallying from the 1000.0 price level, to 1020.0 by the time the close of trading occurred. Today was not much different either, by the time gold started trading at 8:20am EST the price had already reached 1030.0 and continuing the rally into the lunch hours, with a high of 1045.0 with minor pull backs in price along the way, which we looked to capitalize on. While watching the Gold market to see when our second trade would come, we realized that price had begun to consolidate around the 1043.0 price level; after seeing this we began to look for a set-up to the short side, because it looked as if the buyers were beginning to lose strength (Gold Futures Day Trading Video). At 10:29am EST we took the Gold market short with a breaker pattern at 1039.4. The market quickly sold off sharply as sellers were entering again and buyers were taking profits, we were able to scalp +4 ticks (2 contracts) and +8 ticks from the market, for a total of +16 ticks ($160).