There are only a few days in a month when the market is easy to trade. Most of the time, the market is choppy/erratic/chaotic/not decisive/not trendy. I use Intermarket correlation to remove some of the false signals. But I might miss taking the good signals. Today I am going to pay a little more attention to copper. Lately, The big boys have been focusing on it.
16 May 2024 European session sigh ... how to catch that elusive up signal? max profit of $1600 / lot in just 10 minutes! And how to avoid that fake/failed up signal at ~15:00 hrs? Time to change chart parameters volume : reduce to 45V and 100V max stop : increase to 15 to 20 ticks anyway for the next few hours/days, there will be tons of copper trading opportunities.
Natural gas lower histogram - day range. The higher the better. 0.10 point day range = 4% day range The day range is still quite good. NG moves a day, rest a day or two, then move ... But there are days when it hardly moves. There are also days when the day range is beyond the chart especially during the freezing winter time.
- scratch trade (earn or lose a little) ~ 40% - win trade with reward : risk ratio > 3 ~30% - stopped-out trade ~30%
5 Jul BTC or MBT futures I don't trade BTC or MBT because the volume is still not that great. Comments: A) 1st signal - use a smaller volume chart (because not many traders were aware of BTC movement) subsequently use a bigger volume chart This applies to most futures. B) The retracement Pattern and Entry 1st 3 Point Entry and 2nd 3 Point Entry Notice that these retracement patterns are similar. The 1st 3 Point Entry - notice how messy the chart is. ie very difficult to catch this signal. If you see a 3rd 3 Point Entry, don't take it because it is of higher risk. C) 2nd chance Entries Occasionally, the market is kind enough and offers you a 2nd chance to enter. But most of the time, the market is ruthless. D) over the next few hours, BTC will be untradable because it is in the garbage zone. E) for the past 3 days, the Asians (or Japanese) were very eager to short BTC. Good Luck Day Trading.