July 16-17, 2019 — Despite the tough market conditions, we’re still doing well (knock-on-wood) in my LIVE! Trading Room as we day trade some of the most volatile and profitable markets. We focus mostly on the Stock Indexes — the E-Mini S&P (ES) and E-Mini NASDAQ (NQ) — and Crude Oil (CL).
These stock indexes are staying near ALL-TIME highs. That makes them difficult and dangerous. However, after a fantastic week last week, we’re still doing well this week as conditions tighten.
A Tough Morning — But We Traded Out of A Hole
July 16: After an initial scratch trade in the E-Mini NASDAQ (NQ), both market structure and price action were suggesting lower, so I sold and we promptly got caught in a HFT trap. When I recognized that, we took a small loss, like I prefer, to avoid a bigger, full loss. We then sold again and got whipped-out. There was little to no volume and the HFTs were completely in charge, whipping price. It was tough. We finally bought, counter-trend, and price just refused to move up. However, we were able to at least clear the early small loss and make a little lunch money. Sometimes that’s the best you can do. Day trading out-of-a-hole, is not something newer traders and struggling traders find sexy but it sure helps in the long run!
The FULL Daily Profit Target In Less Than 5-Minutes
July 17: Today was a bit easier. I told Members in the Top-Down Analysis that I thought the Stock Indexes, especially the E-Mini S&P (ES) and E-Mini NASDAQ (NQ), were set to push higher before moving down. I predicted the initial range where intermediate resistance would be found. Our Game Plan called for selling near that resistance. We did and Members walked away with their FULL Daily Profit Target in less than 5-minutes! Conditions didn’t warrant trying for an Add-On Day today so we stopped and had the rest of our day to enjoy, having finished our “job” in just over 5-minutes.
Remember: These markets conditions can literally change any day.
Volatility can return at any time.
We’re ready for it! Are you?
If your days haven’t been as good as the ones we were fortunate to enjoy these last couple of weeks, you could join us in my LIVE! Trading Room as soon as tomorrow!
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:
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!
July 11-12, 2019 — We finished another great week day trading the Stock Indexes — E-Mini S&P (ES), Emini NASDAQ (NQ), E-Mini Russell (RTY) — and Crude Oil (CL) — in my LIVE! Trading Room.
Except for Wednesday, when FED Chairman Powell made his “surprise” remarks at a breakfast and shot the markets up-up-UP — after they had mysteriously churned up-up-UP the day before, without retracements — almost as if some insider banksters “knew” what he would say the next day (Nah!) . . . Monday-Tuesday-Thursday-Friday this week saw very little volume and either dead or whippy price action as the HFTs were in complete control and the Stock Indexes stayed plastered to near their all-time highs. I explained in the LIVE! Trading Room how and why this affects price action and what to expect going forward.
It’s that time of the Summer when we usually consider taking my “patented” Chartsky’s Summer Scalps.
Last year, for the first year, volatility remained high enough for us to continue pursuing regular trades and normal Profit Targets.
You can see from what we achieved this past week, volatility is still there — just coming in fits-and-spurts . . . so I’m not ready to give-up valuable ticks and so we’ll wait at least another week before considering Summer Scalps.
On to the specific days . . .
July 11th — The Daily Profit Target SOLIDLY Earned
July 11 — As usual, we were PATIENT and DISCIPLINED and that’s even more important when conditions are tougher and mistakes are harder to recover. Also, FED Chairman Powell was scheduled to “testify” before one of the countless Committees or Sub-Committees in the House of Representatives. I discussed how that works in the LIVE! Trading Room but you can sometimes see price spikes before, at the scheduled time of, or during these regularly scheduled appearances. Even though we were front-run by the HFTs in the E-Mini S&P (ES), we had the FULL Daily Profit Target in the E-Mini NASDAQ (NQ) right at the 9:30 Open but price whipped us out of an excellent Entry before turning to the Profit Target. That happens. So we kept going. We took a long break and came back and waited for market structure and price action to scream “SELL!” and we did in the ES. There was a companion trade available in the NASDAQ but not the same market structure so it wasn’t an official call.
July 12th — We Turned To Crude Oil For the FULL Daily Profit Target
July 12 — With the Stock Indexes pretty much dead and stuck in either WHIP or UGLY WHIP, we turned our attention to Crude Oil and caught a great Entry and sat through 4-5 candles of dead whip until price turned down fast-and-hard just like I told members of the LIVE! Trading Room to expect. It came right back but we had milked that one for a solid 20-ticks and the FULL Daily Profit Target.
I’ll make a video on my YouTube Channel of the July 12th Crude Oil (CL) day trade since it can help folks understand the need for PATIENCE with both their Entry and their Trade Management. Not much is said or written about patience as a part of trade management . . . although I’ve been talking about it for years. It’s very important though.
So, like I wrote, we were fortunate enough to see a good end to a great week and if your results on this past tough week weren’t as fortunate, you could be trading with us in my LIVE! Trading Room as soon as tomorrow!
OK . . . I’m back from the golf course and sure enough — as soon as I missed a day posting charts of what and how we day traded in my LIVE! Trading Room, someone sent an e-mail asking for them!
It’s NOT my intention to post charts every day — although if it’s helpful, I’ll certainly be happy to consider it. I do appreciate the e-mail request!
What I don’t want though is for folks to start using the charts as a guarantee of what they will get if they join us in the LIVE! Trading Room. Why? Because trading is cyclical and past results are no guarantee of future results. With that warning, I’ve been doing this for long enough that what we accomplish in the LIVE! Trading Room is certainly not lucky . . . but I can best explain by telling you about a guy (about a year ago) who watched just 2-3 of the videos on my YouTube Channel and saw they were Add-On Days (those were the ones he picked) and he signed-up and immediately got angry when I didn’t stay every morning to call an Add-On Day just for him!
We may get 2-3-4-5 days straight of difficult price action (or non-action) and walk away empty-handed. Listen, almost ALL of 2017 was tough. Then 2018 got volatile and more than made up for 2017! Price may start spiking counter-trend and we walk away with a losing day (which, knock-on-wood, we haven’t had for some time) — or we might keep plugging-along and getting the Daily Profit Target or the Daily Profit Target PLUS! or Add-On Days in these nicely volatile markets.
July 8th — Daily Profit Target PLUS! In Less Than 10-Minutes:
Anyway, on July 8th — everything we saw in the Top-Down Analysis was telling us the markets wanted to go farther down and our Game Plan was to be sellers. We tried selling up near the yellow S-R Level in the E-Mini NASDAQ (NQ) and correspondingly higher in the E-Mini S&P (ES), and when we saw that wasn’t going to happen, we caught the E-Mini NASDAQ (NQ) and the E-Mini S&P (ES) right after the 9:30 Open, as they started down harder than anticipated . . and we got nice winners in both markets for the Daily Profit Target PLUS! or maybe even a small Add-On Day.
July 9th — Daily Profit Target Trading the Other Way:
On July 9th — we had a two-part Game Plan but when the Stock Indexes opened so strongly, we bought a break of the green S-R Level in the E-Mini NASDAQ (NQ) and grabbed the FULL Daily Profit Target quickly — before price started chopping or whipping. We couldn’t get a fill in the E-Mini S&P and, since I don’t like to “chase” price, we just let that one go. It was kinda’ strange though, WHY they would suddenly and without any breaking news, be so strong at the 9:30 Open . . . but we try to trade what we see. We could have stopped in less than 10-minutes but hung around to see if the markets would give us opportunities for an Add-On Day. When it didn’t, we stopped.
July 10th — Daily Profit Target PLUS! and Just Missed An Add-On Day:
Today — on July 10th — we were buyers from the 9:30 Open because FED Chairman Powell made some ultra-dovish remarks at a breakfast meeting well before the 9:30 Open and the Stock Indexes shot up. At least we now know why they churned up-up-UP yesterday . . . almost as if Goldman-Sachs and J.P. Morgan and Wells Fargo and what’s left of DeutschBank all “knew” what he would say the next day. But . . . nah! Of course, we know they don’t get “insider” information and they’re just so dang good they somehow else “knew” the markets would go up the next day and so bought-bought-BOUGHT on Tuesday without allowing a single retracement (and then even piling-on into the Close). We don’t need to get those memos . . . we read market structure and price action and try to take it from there. [NOTE: But if you want to send me the memos, I’ll read ’em!]. After they topped-out, you could only take counter-trend sells on a strong up-day or wait for the expected deep retracement (which I told Members about) — but which would have kept you off the golf course. LOL!
I don’t see how these days would add anything to the YouTube Channel so I don’t plan on any videos. Besides, I’ve already got too many lined-up to finish! However, if you have more questions, don’t hesitate to send them to me at my gmail.com address which is: ChartskyTrades. [I write it that way to confuse those hateful e-mail scraping spam bots].
. . . and if your results on Monday-Tuesday-Wednesday weren’t as fortunate, you could be trading with us in the LIVE! Trading Room as soon as tomorrow!
July 3 — This morning in my LIVE! Trading Room — ahead of tomorrow’s July 4th holiday — with the decreased holiday volume as traders start their holidays early — we still had a quick Top-Down Analysis and developed a solid Pre-Market Game Plan. We knew to look for day trading scalps and, although it took two tries, we grabbed the FULL Daily Profit Target from the HFTs in less than 30-minutes.
Knock-on-wood . . . that’s 3-days in-a-row of either the FULL Daily Profit Target or an Add-On Day! Add-up the last 3-days for yourself and it would have paid for MONTHS and MONTHS . . . and this is why my friends say I’m crazy to call day trades in the stock indexes (ES, NQ and RTY) plus Crude Oil (CL) for what I do!
But I enjoy it . . . and even though I don’t advertise, word leaks and spots fill-up fast . . . plus I may increase the cost since even at $500 a month these last 30-days ALONE would still pay for MONTHS of access! So you might want to stop watching and start trading . . . with us!
There’s not much else to say. It was simple and straight-forward and actually a little boring — which is what professional trading can be and should be. If YOUR results don’t match what my LIVE! Trading Room members got these last 3-days . . . you could be trading with us as soon as tomorrow! Well, tomorrow is a holiday so Friday.
I’ll post a video of today soon that addresses some important things we covered, like why we entered where we did and why we pretty-much KNEW price would run down and give us the 40-ticks and FULL Daily Profit Target we were looking for.
July 2 — Today the stock indexes (ES, NQ and RTY) were dead and whipping with no news due — and Crude Oil (CL) was going straight down — as we battled the high-frequency trading (HFT) computers in my LIVE! Trading Room.
They were especially difficult to trade using the small stops we employ — because of the whip.
To make matters worse, not everyone got in on the first trade because of the caution I urged, and so I kept going to try and sneak-out the Daily Profit Target for them too.
We were finally able to do that when market structure and price action both supported potential sells — which we took — and snatched the Daily Profit Target out of the NASDAQ before a 10:30 anemic move up.
I’ll post a video talking about how we trailed this particular trade soon.
July 1, 2019 — We ended June with some really nice days to cap-off a great month and it continued as we started July today in the LIVE! Trading Room.
Following hints of good news about the US-China trade disputes, the stock indexes (ES, YM, NQ) all spiked up sharply at the close on Friday. They gapped farther up when markets re-opened Sunday night.
In case you don’t know, we day trade some of the most volatile and profitable markets including those stock indexes: the E-Mini S&P (ES), the E-Mini NASDAQ (NQ), the E-Mini Russell (RTY) and Crude Oil (CL) in the LIVE! Trading Room.
Today was a little difficult because while the market structure supported price testing the highs, once they did we found there weren’t many buyers and price started declining. When the market structure and price action supported selling, we quickly transitioned to our Plan B and became sellers instead of buyers.
In doing so, we captured a FANTASTIC Add-On Day!
I’ll make a video showing the trades and explaining a little more how and why we switched to Plan B selling. Look for a link here soon. Until then, I’ll be posting daily screen captures from the LIVE! Trading Room.
As I write this we’re still in the last days of 2018, but what I’m about to suggest will apply whether it’s the first week, the second, the third, or even later.
Since I don’t advertise, and since I don’t have an Internet marketing person constantly promoting my LIVE! Trading Room, it’s not the first anyone ever finds. Most have been to several (some even more) before they find me.
I’m told that almost all of those other trading rooms offer free trials and I guess you could spend months floating from one free trial to another and never get any closer to your trading goals. In fact, it would surprise me if taking so many free trails didn’t have an adverse psychological effect! It’s not the purpose or scope of this short post to explain why — but you have cash capital in your Trading Account and psychological capital (if you’re still lucky) between your ears. Once you run out of psychological capital it’s just as hard to trade successfully as it would be trying to put on a trade without any margin available.
Before my Blog got nuked in the server fiasco of November 2016, I had some articles that discussed trading psychology. Even though it’s now the flavor-of-the-month, we’ve been talking about its importance for YEARS. I’ll try to re-write about some of those concepts in the coming months.
But if you’ve suffered a series of bad losses quickly — or small losses for a longer time — both your trading account capital and your psychological capital will have taken hits. Maybe serious hits.
Someone with little to no psychological capital can be handed one of my mechanical systems that has an excellent winning percentage — and would still manage to self-sabotage and find ways to lose!
Similarly, someone with little to no psychological capital can take the signals I call — IN ADVANCE — and manage to get far different results. Their subconscious mind will find ways to self-sabotage. That’s just one reason I speak with each and every new member before their first day in my LIVE! Trading Room.
However, regardless of your past things CAN change for you! Before you continue to nibble-away at your psychological capital . . . and jump from free trial to free trial . . . why not make the decision to try us for just a month? There are no long-term commitments you have to make — there are no special indicators you have to lease — there are no systems you have to buy. We’ll work to restore your psychological capital and try to help you make a few bucks (all while learning good habits).
We day trade some of the most profitable futures markets every morning in a LIVE! Trading Room: The E-Mini NASDAQ (NQ), the E-Mini S&P (ES), Crude Oil (CL), Gold (GC) and the EuroFX. We may soon add the Dow into our mix as well.
I’ve added videos to my YouTube Channel so you can have the benefit of a virtual “free trial” at your leisure — and one that will definitely not cost you an ounce of psychological capital to watch!
If you have any questions, you can find my direct e-mail address at the end of each video.
P.S. — And don’t worry, you can recover or add psychological capital in case you’re running low right now. If you’re still willing to try, it’s not too late.
I remember sitting here a year ago and admitting that 2017 had been a disappointing year and also writing that when volatility returned (and we knew it would some day) things would look a lot better. Boy have they!
We began 2018 with a hard push up when President Trump’s corporate repatriation laws went into effect and corporations could bring back their $TRILLIONS stashed in oversea bank accounts – paying pennies on the dollar in taxes.
Those in the LIVE! Trading Room all knew the stock buy-backs would kick into higher gear and the markets would go up, up, UP – and they did. But January 2018 was more of a levitation than anything.
However, then February 2018 rolled around and that’s when the volatility really kicked in.
Hedge Funds tanked – enduring their worst month in years – and we had a couple of tough weeks (on me, as always) when I tried to re-tool what had worked for a long time for a guy who was desperate to pass a Trading Combine.
Here’s a good lesson: When you focus on, “Just don’t lose! Just don’t lose! Just don’t lose! I can’t afford any more losers!” Well, you’re focused on the wrong thing and you tend to lose . . . or you take too many break-even trades (to avoid losers) . . . and your whole trading expectancy is warped.
I fixed it fast and by the end of February 2018 things had changed.
But not for the Hedge Funds. More on them later . . .
Then we started on our streak . . . home run after home run for the Spring 2018.
The Summer months were a little different though.
The reason was the same: volatility.
For the first time ever I didn’t go to Summer Scalps because the volatility never decreased. Why take smaller Profit Targets when the bigger ones are still available?
Just when we thought it couldn’t get any better, September 2018 arrived . . .
If September was great, October was GREAT on steroids (the best month ever in the long history of my LIVE! Trading Room), November was also GREAT (plus) and as of December 18, 2018 we’ve had Add-On Days for almost every single day in the month of December (knock on wood – LOL!).
I wanted to write something short-and-sweet about how it is that the Hedge Funds have suffered so much in 2018 and we have done so fantastically? We’ve discussed this in the LIVE! Trading Room a number of times.
First, Hedge Funds don’t scalp like we do – instead employing Swing Trades and Position Trades.
This is absolutely NOT to suggest you can’t do equally great from Swing Trades. I’ve called some super Swing Trades in 2018 – again taking advantage of volatility for bigger Profit Targets. So this first reason isn’t really THE reason – but a contributing reason.
Second, their Big Money clients have much different objectives – mainly being: DON’T LOSE ANYTHING AT ALL! – like the poor guy from February 2018 – which is why I even discussed him at all – and so (to use a sports analogy) over-playing defense, they miss a lot of opportunities to score.
You know how the super-boring NFL teams and coaches play “not to lose” – and that’s what often happens when they play that way. Even if they win, it’s usually a squeaker. 13-12.
I prefer old Florida Coach Steve Spurrier’s style (and now new Florida Coach Dan Mullen’s style) . . . make ’em out-score you! I like 55-3!
Well, that’s the year we had in 2018!
Will it be the same, a little worse, or even better in 2019?
If it’s just the same, only a Greedy Guy could find reason to complain. If it’s a little worse, it’s still probably better than 99 out of 100 other trading rooms. And if it’s even better . . .
But I just don’t know.
The batteries in my crystal ball need replacing.
What I DO know is that you wound-up missing a whole year of being with us in my LIVE! Trading Room – where we aim for a Daily Profit Target of $300-$400 per position scalping some of the most volatile and potentially profitable markets and then take time off to enjoy what I have for years called the Day Trader’s Lifestyle. Our main markets are the E-Mini S&P (ES), the E-Mini NASDAQ (NQ), — starting in 2019 the E-Mini Russell (RTY) — and old stand-by Crude Oil (CL), Gold (GC) and the EuroFX (6E).
See if you could follow along with trades that are always called out in advance . . .
If you have any questions, my direct e-mail is given at the end of almost every video and certainly all made in the last 2-years.
So for the low, low price of a single losing trade, which you know you’ll probably still keep getting anyway, you could join us and take the first step towards being consistently profitable, building your trading account (instead of what’s been happening) and thinking about maybe learning from me One-On-One.
Remember, if you’re new or struggling, and if your results weren’t as fantastic in 2018 as what I called for members of my LIVE! Trading Room – you could be trading with us as soon as tomorrow!
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P.S. – I’ve been calling trades in a LIVE! Trading Room now going into its 10th year!
It’s OK if you haven’t heard about me – because I don’t advertise like all the others. I also don’t want 100200 300, or more, nameless faceless subscribers. There are a lot of ways I’m much different than all other trading rooms I know about (See the LIVE! Trading Room page).
But the point I started to make was that every year, at about this time, I question more and more whether I want to do it for another year – or even part of another year.
I mention somewhere in the FAQs (I think) you don’t want to show-up late to the LIVE! Trading Room only to find we’re done and taking the rest of the day off . . . and you also don’t want to delay and procrastinate joining us only to finally decide it’s time to stop cutting bait and fish . . . but the sign-up buttons are gone because I finally decided enough was enough.
Just a word of warning . . .
Regardless of your decision, I hope you and your family enjoy very Happy Holidays and a great year in 2019!