April 16, 2013
- in Uncategorized by schooloftrade
Double-top strategy earns +100ticks Mini-Russell
This morning we
traded the Mini-Russell Futures in our live trade-room and earned our daily
profit goal alongside our Advanced Members from around the world. We used a simple double-top strategy along with our
Entry-Trigger Indicator to earn our daily goal using only one trade. We began at 8:00am EST with a formal morning
routine, and then began to look for the high-percentage-set-ups that would come
our way today.
We used a double-top to trade the Mini-Russell this
morning for +100ticks.
morning for +100ticks.
We began trading thismorning after the opening bell at 9:30am EST on the Mini-Russell and saw a
double-top pattern around 9:45am EST.
This double-top can be used in many ways, but we LOVE to use them for
buying opportunities at support. We
plotted the double-top support zone at the 910.0 down to 907.1 and we wanted to
use that buy-zone to get into a long position.
We discovered the double-top at
9:30am; all we had to do was stay patient for the signal.
Once we saw the test
of the 910.0 buy-zone from the double-top we waited for the buying signal to
come from our Entry-Trigger Indicator on the tick-charts we use for entries. Once we saw the signal to get long at 10:15am
EST we got into our trade. We placed our
stop-loss below the buy-zone lows and our profit-target at three different
locations. First target went to the
double-top level itself at 914.0. Second target went up to 916.5 using Symmetry from the LOD to the
HOD. Third profit-target was left for a
runner at 920.0 which is a sell-zone on the 60-Minute anchor chart. Another runner profit-target would be at the
922.7 sell-zone on the 4-hour chart.
This morning was
another classic example of how easy day trading can be if you just follow a
trading plan constantly and use proper risk-management. We teach these strategies, including trading
psychology, technical support, and much more every day to our students. We look forward to sharing our success with
you too!
another classic example of how easy day trading can be if you just follow a
trading plan constantly and use proper risk-management. We teach these strategies, including trading
psychology, technical support, and much more every day to our students. We look forward to sharing our success with
you too!
Follow every trade we take by joining the trial or registering as a member.
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Want to see the trades we took today? Find them here.
