July 15, 2019 — After the Fantastic Week We Enjoyed Last Week – A Tough Day In the LIVE! Trading Room

A Tough Morning — But We Weren’t Hurt!

July 15: After the FANTASTIC week we enjoyed last week — calling almost TEN-TIMES the monthly subscription fee in a single week — and that wasn’t a lucky once-in-a-blue-moon thing — we were overdue, perhaps, for a tough and trying day. We got it this morning day trading the Stock Indexes (ES and NQ) and Crude Oil (CL) in my LIVE! Trading Room.

Recaps of Last Week:

If you haven’t already read about last week, you can find my summaries here:

July 8-10th

July 11-12th

Like all of last week (except Wednesday when FED Chairman Powell made his “surprise” remarks at a breakfast meeting) there was NO volume this morning and the Stock Indexes stayed super-glued near their ALL-TIME highs. That scares-away serious buyers. Why? Because how can you put $1-Million plus at risk buying near ALL-TIME highs? How can you put that same $1-Million plus at risk selling a market that is staying plastered to ALL-TIME highs? Well . . . you don’t! You sit back and wait for some more “surprise” news about China. If anyone in the Trump Administration even uses the word “China” in a sentence the markets will react!

Still, even though conditions this morning were difficult, we almost had the full Daily Profit Target TWICE! Once when we got whipped-out of a nice 40-tick NASDAQ (NQ) winner; and first when I didn’t do what I should have done and sold the Open when market structure and price action were telling me it was a pump-and-dump in-progress. So, as always, it’s on me.

Day trading these volatile markets in my LIVE! Trading Room can be very profitable — if they’re moving. Day trading these same markets when there is no volume and no volatility can be very dangerous and very challenging.

How Mistakes Can Come Back and Bite You

However, like I told Members . . . Players and coaches know you usually don’t get cheated out of a ballgame by the refs. Fans who didn’t play think so. But YOU put YOURSELF in a position that a bad call (innocent or on purpose) costs you the game! If you made that TD catch in the 1st Quarter — or if you had cut right instead of left in the 2nd Quarter — or if you had stopped that 3rd and 3 in the 3rd Quarter — it wouldn’t matter what the refs did in the 4th Quarter. We didn’t have the Daily Profit Target stolen today by the HFTs as much as I gave it away by not selling the Open and being finished with a Daily Profit Target PLUS morning in less than 5-minutes!

But you know what? We’ll be right back tomorrow and try to make these HFTs give us the one they cost and more on top of that!

Here’s Some Good News

Even more importantly, though, we didn’t get hurt today either!

I can almost guarantee that new or struggling traders — or even experienced traders — that still need help with patience or discipline (or both) — all got chopped to death this morning.

If you’re one of them, you can join us and be day trading on our side in the LIVE! Trading Room as soon as tomorrow!

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