Bonds and Notes still look strong. BP and EC look weak and can be entered for shorts again on a pullback. Jy and AD also weak.
Levels on Russell 1) 658.70 S1, 654.20 S2 2) 662.10 R1, 664.60 R2 If support breaks my 1 point it becomes resistance and vice versa. Keep that in mind. I will try to post now Russell trades but at times it gets too hard on ET. Something with a voice would be a better option though I wish ET would have supported somehting like that.
BP was a winner, Bonds was a loser. Overall exceltnt day so far. Will run the stats later towards the end of day. Lets keep our fingers crossed to make more!
Todays live call results: Bp : 1 trade, 1 winner, 10 ticks profit. EC : 1 trade, 1 winner, exited live with 7 ticks profit. JY : 1 trade, 1 winner, 10 ticks profit (early morning play) Bonds: 3 trades, 2 winners, 1 loser, 4 ticks profit Notes: 3 trades, 3 winners, 14 ticks profit Russell : 1 trade, 1 loser, loss of 1 pt - ( early morning play) So I guess that was it for the day. another plus $300 day for SURE! GO figure!
Okay guys here is something I wanted to tell you guys which you might would learn in many years ahead your self. Take it as a short cut as I am telling you now. Sort of an advice. Long time back when I started trading, like most of the newbies I was a struggling trader. Traded like drunken money, lost everything I had. Then came the phase of learning. Used to spend endless hours trying to figure out ways of making consistent money from these ruthless markets. Starting from pivots, fibs, Elliot waves theory, Gann, price action, candlestick patterns, many different type of charts and much more, virtually almost everything which was available there to make sure I donât repeat the same mistakes I did because of reckless trading at the start. One of those times, this idea struck my mind that when they say 90% of ppl lose money trading and only small number makes it through, I thought most of the ppl who are losing money in markets must be using something which winning traders are not using. We all know that everyone knows about all the candlestick patterns, fibs, pivots or maybe price action watch for trading so maybe thatâs the cause of losing money in markets. So when using such tools and studies, 90% of the traders lose in markets, how about taking the signals other way around? Like when everything is saying LONG , why donât you go Short? of course as par understanding, 90% of the ppl are using such tools and losing their asses off? Would reversing it might make difference? I am sounding foolish here, but I was new that time. All sorts of weird ideas used to strike in mind. So like with every thoery, I back tested my approach and guess what I found? 50% results! Itâs only working 50% of the times and losing 50% of the times as well! Helloo?? Wasnt it suppose to make me money after reversing it? I thought so but mechanically speaking it wasnât coming true too! Very frustrated at that time because I really thought that it would have worked. Now as I stand here trading multiple contracts of many markets daily with ton loads of years of experience, I have come to the conclusion that what really creates a difference between a winning trader and a loser is not only the method, infact that counts just a minor fraction, the only difference between a constant winner from loser is this that he has an edge over him by maybe a little from his method, but, Majority because of his ability to follow the trading plan. THE ONLY SECRET which 90% of the traders donât know whole their life and they kept on looking for all sorts of indicators, methods and bla bla to make it work. Trading the trading plan like a machine with no emotions is the ONLY holly grail in this businessâ¦. THE ONLY! Mind it
EC and Bp looks weak from currents areas. BP can be shorted now for quick 10 ticks gain. EURUSD is a short too. Bonds and Notes look strong for sure too but needs a handsome amount of pullback. Cheers