A SIMPLE APPROACH TO GAINING CONSISTENT RETURNS THAT ANYONE CAN FOLLOW. NO HYPE, NO BS, TRANSPARENCY DAY IN DAY OUT. 1 GOAL, TO MOVE TRADERS FROM BREAK EVEN/LOSERS TO CONSISTENT WINNERS. ITS NOT FANCY, JUST EFFECTIVE.
TRADE REVIEW:
Thursday, April 24, 2014
ES & NQ TRADE REVIEW FOR 04-24-2014
TRADE REVIEW:
Wednesday, April 16, 2014
ES TRADE REVIEW 04-16-2014
A SIMPLE APPROACH TO GAINING CONSISTENT RETURNS THAT ANYONE CAN FOLLOW. NO HYPE, NO BS, TRANSPARENCY DAY IN DAY OUT. 1 GOAL, TO MOVE TRADERS FROM BREAK EVEN/LOSERS TO CONSISTENT WINNERS. ITS NOT FANCY, JUST EFFECTIVE.
TRADE REVIEW:
Wednesday's ES trade was a choppy affair early on. Fed chairwoman Janet Yellen was due to speak at 1115 central time and the result of that was a market dominated by chop in the early going. The theme of the day was to be cautious on the short side and look for long entries from levels below. Off the open responsive sellers stepped in above Globex hi and started a choppy push towards Globex low and a weak attempt at gap fill.
I mentioned in the market preview that aggressive traders could look to half gap for trade to the upside and that trade was worth 3+ points from the 1842 1843 level. Sellers continued to push down after that brief rotation up but were unable to get to gap fill with responsive buyers stepping in one take and for the 1850 1839 support resistance zone.
The reason for caution to the short side was because the market has driven up without fail prior to Janet Yellen making public comments. True to form ES rotated from approximately 184075 up to 1852 in the hour prior to her comments.
This is the reason why I was avoiding the short side of the trade today and even if a trader was unable to position to the longside; simply by avoiding the short side, significant losses and frustration was avoided. Avoiding a losing trade is just as valuable to me as having a winning trade.
The market traded sideways after Yellen speech and was squeezed to new highs by the end of the day but not before finding rejection of the first touch of the 11852.75 to 1854.75 support resistance down that yielded a two point rotation lower before continuing to the high the day.
Today was a balance day that rewarded patient slow trading. ES has now retraced to a significant resistance point. Tomorrow if the market is unable to trade and hold above 1855 it is likely the responsive sellers will step back in make a push back towards the 1814 to 1816 levels were lower.
Keep in mind tomorrow is the last day of option expiration and we could see a large amount of volatility in the first and last hour the day. I hope everyone had a great day. Remember all you need is one or two good trades a day to build a solid trading account.
MARKET PREVIEW
Sunday, April 13, 2014
ES TRADE REVIEW FOR FRIDAY 04-11-2014
A SIMPLE APPROACH TO GAINING CONSISTENT RETURNS THAT ANYONE CAN FOLLOW. NO HYPE, NO BS, TRANSPARENCY DAY IN DAY OUT. 1 GOAL, TO MOVE TRADERS FROM BREAK EVEN/LOSERS TO CONSISTENT WINNERS. ITS NOT FANCY, JUST EFFECTIVE.
TRADE REVIEW:
MARKET PREVIEW
Thursday, April 10, 2014
ES TRADE REVIEW 04-10-2014
A SIMPLE APPROACH TO GAINING CONSISTENT RETURNS THAT ANYONE CAN FOLLOW. NO HYPE, NO BS, TRANSPARENCY DAY IN DAY OUT. 1 GOAL, TO MOVE TRADERS FROM BREAK EVEN/LOSERS TO CONSISTENT WINNERS. ITS NOT FANCY, JUST EFFECTIVE.
TRADE REVIEW:
Tuesday, April 8, 2014
TRADE REVIEW FOR 04-08-2014
A SIMPLE APPROACH TO GAINING CONSISTENT RETURNS THAT ANYONE CAN FOLLOW. NO HYPE, NO BS, TRANSPARENCY DAY IN DAY OUT. 1 GOAL, TO MOVE TRADERS FROM BREAK EVEN/LOSERS TO CONSISTENT WINNERS. ITS NOT FANCY, JUST EFFECTIVE.
TRADE REVIEW
MARKET PREVIEW
Saturday, April 5, 2014
ES at TRADE REVIEW FOR 04-04-2014
A SIMPLE APPROACH TO GAINING CONSISTENT RETURNS THAT ANYONE CAN FOLLOW. NO HYPE, NO BS, TRANSPARENCY DAY IN DAY OUT. 1 GOAL, TO MOVE TRADERS FROM BREAK EVEN/LOSERS TO CONSISTENT WINNERS. ITS NOT FANCY, JUST EFFECTIVE.
Friday's market had more challenges than most trading days. NFP or non and farm payrolls presents increased risk to retail traders because of increased volatility and increased trading ranges. In addition to speed at which the market moves increases dramatically. All of this combines for a very challenging environment in which to execute a trade plan which on most other days has good odds of being profitable. Along with the increased technical challenges comes the increased odds that a trader can experience psychological related performance issues. Specifically slipping into a fight or flight mode that often generates over trading, stop lost violations and extreme frustrations. If with all that being said you still chose to trade the open provided quite a clue. The open drive lower often indicates a strong possibility of a trend day down and should set up a trader to look to fade in the counter rotations backed up.
You will notice that even in a trend day tied down scenario to support resistance zones provided great trade location for counter trend trades to the upside. Most zones provided a 2 point plus potential profit on first touch. This type of price action has been absent from the market since January and has made trading conditions more challenging. The last two weeks we have been experiencing more of a two way market and getting these counter rotations at the zones has become much more consistent.
Moving into next week retraces back to the upside should provide great short entry and I would expect the two sided trade to become more prominent. For more detailed look at the trading day please watch the video trade review below.
TRADE REVIEW:
Tuesday, April 1, 2014
ES TRADE REVIEW 04-01-2014
A SIMPLE APPROACH TO GAINING CONSISTENT RETURNS THAT ANYONE CAN FOLLOW. NO HYPE, NO BS, TRANSPARENCY DAY IN DAY OUT. 1 GOAL, TO MOVE TRADERS FROM BREAK EVEN/LOSERS TO CONSISTENT WINNERS. ITS NOT FANCY, JUST EFFECTIVE.
TRADE REVIEW:
Subscribe to:
Posts (Atom)