Today we had a 7.5pt Gap Up of Previous Days Accumulation. We had 2 early news releases prior to the open fueling momentum in the globex and pre-open. Obvious TRD day
Recap Notes:
Trade Selection - Ok trading Not great: I made a crucial error by Placing a liquid Trade into a TRD and not adjusting asap. I noted the signs but was slow to react. But i was able to adjust my premise and take a C(500 sync) in trend to recoup early loses.
INTANGIBLE OBSERVATIONS:
NEVER buck a TRD day!! - Today i made a crucial error by Placing a liquid Trade into a TRD and not adjusting asap. I noted the signs but was slow to react.
TRD Signs are
- 5+ Gap off of Strength and open Rally,
- Multiple News Releases early,
- Globex Momentum.
- All opposing signals are to be ignored
Always take C(500 Cycle Syncs on TRD Days.
Accumulation Signs of Strength
High Time Frames
15 minute
Trust the premise on the open - Today I went away from my Bias and had to pay the cost as price moved against my position. However we had Block buying on the low of the 40500 tick that was never negated, pointing to potential test of the highs.
Stay with High Time Frame Blocks until They show up against the premise.
Always Exit into the Rally- You must leave money on the Table- Today i exite very well into the rally but decided to leave 1 lot running to max profit but instead gave back 5.5pts to exit at 1 tick. Lesson learned!!