Today is Wednesday, June 2nd and yet again, the market is responding to my calls almost on cue.
I don’t mean to get overconfident or cocky, but the market moved out as I so thought it would, +2.50% or +27 points on the S&P and +225 points on the Dow.
Just looking at the daily chart, told me that a likely move was ready. When I look at the daily charts, it looks exactly the same to me as when looking at a tick chart or small time frame chart. I have seen those patterns thousands of times and know what to expect when I see it in a daily chart. The look or read is the same, daily, hourly, time charts, tick charts, volume charts, they are all the same in all time frame charts.
If you day trade the market and look at small time frame charts and go back to looking at daily charts, you may surprise yourself on how easy it is to call and read any particular market. The reason is, you have been looking at hundreds and often times thousands of chart patterns and know what good structure looks like. This will not come over night, that is for sure, but this is the reason why I have been showing just one of the timing indicators I use. To better give you an idea of what is possible.
It takes time to become good at reading the market, because it does everything in its power to confuse you and make you think to go against logic. Trading logic is is what you need, not human logic, because the markets own nature goes directly against human logic. If you have trading logic, you will know the difference between a real trading break out and false one.
Trading, is not natural for most people and it is designed that way, to make the unsuspecting fail. With that said, you can put the odds in your favor by improving on your timing. A traders timing is key to his success. A moment to soon or to late can make all the difference in the world.
If you were able to learn excellent timing, to trade any market or trading instrument, what could you do with that? That is right, you could write your own ticket. That is what I teach those who will allow me to mentor them into becoming the traders they aspire to be.
Becoming a good trader that is able to make money on most everyday he trades is not easy, but it is achievable and don’t let anyone tell you different. It is up to the individual and there personal passion to overcome all obstacles, no matter what. You must be willing to change anything that is holding you back. So often, it is ourselves that is our worst enemy. We need to give ourselves permission to succeed. That may sound odd to some, but you would be surprised how many get caught up into self sabotage and don’t even know why or that it is even happening.
I work with traders to help them overcome what ever struggles or problems they are having. If it is technical in nature or if it is something that they are doing that they do not even know about. The bottom line is, if you have a passion to master the art of day trading and that can be with stock, options, emini futures and even forex, I can help.
What I do goes beyond just selling my trading method to those interested, I really care about helping you overcome what ever is holding you back. All of this helps me as well and it keeps me on the straight and narrow. I have become much better since I have been writing, teaching, mentoring and clearly defining all the elements of my trading program. My confidence has increased, but at the same time, I know better to stay humble and take each day as a gift from God where by I am able to live my dream.
I want to be able to transfer this to others who share the same passion for the game. When you give something away, is when you are able to receive much more. So, this is a whole lot bigger than just me. Times are difficult and successfully being able to trade for a living, offers hope to those who want it. How about you!
In today’s trading I traded much longer than I usually do, but had some pretty good results to go with it. I could have done better, but when it was all said and done, I did over 4 times my daily goal. I did make some bad trades, but they were small. A bad trade is not a loss, but one that does not follow my method. One trade late in the day, got me as I was trying to close out my trade for a smaller loss but got filled on both, the better exit and the original exit. This is something that I need to watch and in a fast market can happen. I should have closed it out right after getting filled, but thought since I was in it, I would see what it would do. That is not a good enough reason to hold onto a position and it resulted in a stop out. Things like that are bad trades. When you try and make a mistake work for you.
I am looking for a continuation of today’s rally, for the rest of the week and in tomorrow evenings post, I will put up the new sentiment numbers I have been talking about. If they are at or under the 35% mark you can expect a continuation of the rally over the next weeks to come until the the excess is worked off. Good Trading to All !
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