Avoiding First Trade Losses

– Why do early morning trades fail?

o Not enough yet
o No news events have sparked the interest of traders
o Your emotions do the trading
o The dollar is still sitting sideways
o Start with the dollar index:

 Look at ATR

• If the ATR is rising, this is going to be a good day

 Look at the trading range

• Above/below the HOD/LOD from yesterday this going to be a good day!

 Add my price alert indicator to the highs/lows of the dollar
 Then wait patiently for the dollar to break new highs or new lows
 The rest of the markets will wake up and begin to move.

– What qualifies a breakout trade entry?

o Review the entry rules

– Trader Tax: what if I never withdraw?