Today we had a +3pt Rev gap above VPOC @1664 + Blocks on the open tick lows = Huge 12pt Rally into 1st Ti. Price did reverse selling off 15+pts by the 2nd Ti then moved into the high drift. This was a gun slinging day with a 17 pt range before the dead zone.
Recap Notes:
We apologize for the Technical Difficulties "NO Video"
Trade Selection - Ok Trading, Good Entries, Ok Exits.
Trade Selection - Ok Trading, Good Entries, Ok Exits.
Sequence 1 Due to the whipsaw and extra wide range on the day i put on alote of probes cutting quick when i lost conviction and keeping my size down. However my best trades was off blocks that failed at support and retested the same area. Overall this should have been a more explosive day but still content and appreciative for my gains. I Kept a positive attitude after some real heart breakers.
ADJUSTMENTS & OBSERVATIONS:
Laughter is the best medicine - Today i actually had a trade run 5 points in my favor and before i could even blink it pulled back to my entry, i got out with a scratch. Typically i would have been moved to some frustration, but this time i couldn't help but to laugh at how that must have looked.. Needless to say it broke any inclination towards regret frustration or any negative emotions or thoughts. I then came to the sudden realization that this was FUN.. Knowing their are more opportunities to come in the future, the day became a game i was playing with myself, Like Super Mario Bros. How many coins can i collect before the closing bell??! LOL
NEVER Approach an Entry with a Short Term Profit in Mind (ie. "I Just Need 1pt") - Just this thinking alone will set you up for a loser. The 1st reason is that when price moves against you, you are more likely to hold waiting for that small uptick that you want. 2nd When price moves in favor by your small amount if you close for a small gain, you have set yourself up for regret and are more likely to come back with another loser. 3rd reason is that once price moves that small amount in favor you will need to be extremely quick to close and hope to get a good fill. if not you try to hold for an even bigger gain further setting you mind up for a losing trade. And finally if you enter trades with short term targets you are less likely to risk more than the small amount your seeking and will often be stopped out or spooked out of a possibly good trade.
The proper approach: Allow the market to flash "FREE MONEY!! COME AND GET ME!!" without any specific short term target to limit your potential. When price fluctuates in any direction you are more likely to remain focused and be willing to hold or cut out if the signals warrant.
When you Put in a 1S1K YOU ARE DONE FOR THE DAY -There is no need to stick around and fight the market when you get a freebie!!!
Manipulation Mondays - Today was a continuation of the Fridays trend, Notice when their is No or lite news as is often the case on Mondays, price can move in one direction on light volume as the campaign can be easily pushed. good to enter early and be patient as it could take hours to hit your target.
EXIT INTO THE RALLY!! - Today i failed to exit into the rally on multiple occasions giving back major points. THE KEY IS TO WHILE THE RALLY IS IN PLAY. you may leave a bit on the table at times but you will catch the bulk of the move. If price has rallied prior to a 7:00 news release BAIL OUT!! Don't worry to leave money on the table, this is a high probability EXIT.
Stay Focused - Jump on solid Block bars at cycle turns, Today i missed a few very good entries that had block bars on synchronized cycles, minor distractions caused a half heated effort to enter and i
NEVER Approach an Entry with a Short Term Profit in Mind (ie. "I Just Need 1pt") - Just this thinking alone will set you up for a loser. The 1st reason is that when price moves against you, you are more likely to hold waiting for that small uptick that you want. 2nd When price moves in favor by your small amount if you close for a small gain, you have set yourself up for regret and are more likely to come back with another loser. 3rd reason is that once price moves that small amount in favor you will need to be extremely quick to close and hope to get a good fill. if not you try to hold for an even bigger gain further setting you mind up for a losing trade. And finally if you enter trades with short term targets you are less likely to risk more than the small amount your seeking and will often be stopped out or spooked out of a possibly good trade.
The proper approach: Allow the market to flash "FREE MONEY!! COME AND GET ME!!" without any specific short term target to limit your potential. When price fluctuates in any direction you are more likely to remain focused and be willing to hold or cut out if the signals warrant.
When you Put in a 1S1K YOU ARE DONE FOR THE DAY -There is no need to stick around and fight the market when you get a freebie!!!
Manipulation Mondays - Today was a continuation of the Fridays trend, Notice when their is No or lite news as is often the case on Mondays, price can move in one direction on light volume as the campaign can be easily pushed. good to enter early and be patient as it could take hours to hit your target.
EXIT INTO THE RALLY!! - Today i failed to exit into the rally on multiple occasions giving back major points. THE KEY IS TO WHILE THE RALLY IS IN PLAY. you may leave a bit on the table at times but you will catch the bulk of the move. If price has rallied prior to a 7:00 news release BAIL OUT!! Don't worry to leave money on the table, this is a high probability EXIT.
Stay Focused - Jump on solid Block bars at cycle turns, Today i missed a few very good entries that had block bars on synchronized cycles, minor distractions caused a half heated effort to enter and i