Many of you have heard that price action has a certain fractal nature to it. Here’s a pretty straightforward example which I spotted today.
Below is 2 hours worth of SPN candles from today. Look at the overall picture: a big move up, a reversal to the 38.2% retracement, and a [...]
This trader made $14,000 scalping the DAX futures over the course of about an hour and a half. And to think, just yesterday someone left a comment on this blog that no big money can be made in scalping! I would say, there’s plenty of money to be made in every trading style, [...]
I traded 11 positions today–4 wins for +4.9R, 7 losses for -5.1R, net -0.2R. I’m really shooting myself in the foot with some of the plays I take! Once again, I held losers too long, though I executed the winners well. AAPL spanked me three times! I’ll stop trading a stock [...]
I was five for five today, with all wins. Feels good after yesterday, when I was only four for seven. In the video below, I go over all five trades, and one loss I had yesterday (since I was too sleepy to make a video yesterday). The trades today were on BEAV, [...]
Here’s a Pile ‘O Charts from my trades today. I took seven trades, 3 losers for -2.2R, two breakeven, and two winners for +4.6R, leaving me at +2.4R for the day. My prop account overall PnL is up about +1.5R from my starting balance. I’m happy with those results for now, especially [...]
I’m about to go out for a while, but I thought I’d leave you with a quick thought. Maybe everyone knows this, and maybe not. It’s conventional wisdom that you want to see low-volume pullbacks on trends. They are safer to jump into. Do you know why? If not, think [...]
Over the past few days, I have been reading more and more, and more posts about how a reversal is just around the next 15-min candlestick.
Before I go any further, let me first define the term reversal. By reversal, I mean a reversal of the current downtrend in the daily chart of ES.
The desire [...]
Did Tom C ever start a blog? I think it’d be a more successful spinoff than, say, Joey.
(no, this isn’t the article I said I might write in my last video!)
I’ve been reading through the OONR7 blog this morning, and it looks pretty enjoyable.
Unlike a lot of you out there, [...]
SPY was looking pretty weak this morning, so I decided to look for some shorts as SPY was unable to close above previous swing high on 15 minute chart from yesterday. I didn’t plan on trading today, but the market looked pretty darn weak and predictable. Did I say that :/ ? [...]
Three trades today, for 2 wins and 1 loss. I made money every day this week, but I’m overall pretty disappointed in the amount I pulled in. The way the overall dow and nasdaq were moving, you’d think I could find something bigger to trade. But, all these unusual market days in [...]