The Market Continues To Coil For A Summer OF Fun

Welcome back everybody! First things first, I want to welcome all of the new student family members that joined us today after our Live Trading Room event. Next, I want to thank everyone that attended today and asked a lot of great questions. Hopefully, everyone was took away real-world strategies that you saw in action.

I identified each of the different markets, support and resistance levels, and exactly what we were looking for, and if we didn’t get those things happening then we needed to go ahead and stay out of the markets.  Sure enough, the support levels that I identified turned the market around on the upside, the resistance levels back to the downside. It was once big chop fest which is a continuation of the last several weeks.

There certainly has been plenty of profits if you go back and look at some of the videos that I have done. Take a look at last Friday for instance, there have been some really great profits opportunities in this market but not every day is going to be a great trading day. That is part of what we focused on this morning-how did I get my equity curve?

This is my actual equity curve during the trading competition in Italy and how I made money.  Here I made some, then some more money, and in the end walked away basically with a couple of ticks on the trades that weren’t working and then stopped which ultimately helped me win the trading competition.

The key is push and make money when you can, make as much money as you can when the pushing is good. Then slow down make whatever profits the market will give.  When the market is ready to reverse take your small profits and walk away from it.  That is a much better situation than what most traders do. Actually one of the traders in Italy made some money give it all back…well you get the gist of it.  We are trying to focus on being slow, steady, and consistent.

We ended up focusing in part today on the trading psychology aspect that helps me win all those trading competitions domestically and internationally. I focus on slow steady consistent profitability.

Let’s focus on the VIX and how it ties into the next couple of days. I want the VIX to be up and keep pushing up. I want it to get above 15 and pushing towards 16. If that’s is happening then I will focus on short side trades. When it starts bleeding back down toward the 14 area as I was telling you this morning than we are basically in a neutral state and any sort of downward move can quickly be reversed as it was today.

We talked about the Euro here today being in this inventory retracement bar. As we look here at the Inventory Retracement bar right above us here and at the same time we had the speed line support right below us here. We went ahead and had plenty of resistance above and support below so there was nothing to do and sure enough look at where we closed today. The open and the close basically sat there right at the bottom at the inventory retracement bar. Everything we talked about came true there today.

We also talked about Gold today live in the market that we have the inventory retracement bar support below us. At the same time we had speed line resistance coming down on top of us as well as a boat load of resistance coming down on top of us so with support below and resistance above no trade there.

As we focus on Crude Oil we have a much bigger fish to fry here. We are looking to see if we can get above key resistance. We have the rising support underneath of us, the falling resistance coming down on top of us and you can see that has led to a ricochet pattern back and forth here over and over again. That kept us on the side lines and rightfully so.

The Stock-Index Futures same thing here this morning. I point out the key support levels on the DOW and the NASDAQ but also importantly those Rob Hoffman’s Inventory retracement bars right there in the back drop on the S&P and the Russell and how those were going to be so important and even at the time they were on those levels here. They weren’t coming down touching key support but I said the support is already there built in with the inventory retracement bars. What happened within minutes of me saying that it turned right around and spiked back right back up taking any short for a very nasty ride. Everything that we talked about came absolutely true and gives us a lot of chances to focus on what gives us that equity curve and how we win these trading competitions around the world, how I do what I do every day in the Live Trading Room, make as much money as I can. It has been an incredible twelve months here and I am looking forward to another incredible twelve months. It is all going to start with the next three months. This summer is going to be rocking just as well as I predicted that was going to happen here today based on the whipsaws in the market.  I can also tell you it is going to be a fantastic summer of opportunity and I am going to be there and all those new student are going to be there for one heck of a ride!

The focus today and every day is make as much as we can and back off when the getting is not good. That is going to be the whole premise this summer. How to make as much money as we can when the indicators are pushing and how to back off. That is what we are trying to do every day. Make as much money as you can when the getting is good, make average profits when you can, and when it is not working try to walk away with a couple of tick profits.

People often laugh when I all I take is a couple of ticks in the market. I am more than happy to walk away on the trades that do not work with a couple of tick profits and then make the money here. Even in this trading competition that allowed me to win the most money earned award in this international completion in Italy and continues to go ahead and set me apart from. This is what a lot of peoples equity curve looks like. Make some money then lose some. If you are tired of making trades that lack consistency and your spouse is telling you to get better trading or your done in this business, if you are behind in your in your goals as a trader, or just lot money, your retirement is approaching or is already here, and things are not going well and you need to accelerate your process or whatever is happening to you, wherever you’re at it is time to make that change.

Hopefully, with winning as many as domestically and internationally trading competitions is I have more than anyone else in the world on site real-money competitions would be very inspiring for you and you take the opportunity to join the Live Trading Room getting all the support from all of these different things that you see here in green.

Watch the video down below to what you get go to

www.becomeabettertrader.com/now

It is time to finally make a change for so many of you out there. I am looking forward to being a part of that change. Have a wonderful night and I look forward to seeing you in the Live Trading Room tomorrow morning and in tomorrow night’s videos. Take care everyone and have a great evening!

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