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!