Did You Miss Rob’s Live Trading And Key Strategies He Used Today?

I am going to do something a little unusual tonight.  I usually share all the trading strategies to possibly help avoid losses and possibly make money in the premium day and swing trading videos.  Today I am going to make this video available to all of you.  We did that public event this morning.  I wanted to drive those key points home.  I got a lot of calls and people who joined the Live Trading Room after.  This is obviously very important to a lot of you.  Let’s make sure we top off the learning experiment.

Protecting profits and minimizing the risk of lots were important this morning.  We had Crude Oil pushing to the upside.  People were screaming GOLD, GOLD, and GOLD.  Gold was also pushing up here.  I told everyone live that this wasn’t a great trade because of the distribution bars on the two, five, and fifteen minute charts.  There were multi timeframe selling going on.  There was also negative divergences forming.  You can see it on the five minute chart.  That was happening on top of R2.  That is the normal statistical normal daily range.  When that happens, the next expected move is a roll back down and selling.  No later than I got done teaching that, it did just that.  It ended up dropping about 50 ticks.  That is 400-500 dollars a contract.  You can imagine there is always one person who will be like to short it at the top.  In a public event you will never seeing me making counter trend trades.  They become very addicting to the average retail trader.  Traders will make a little bit of money when they are right, but lose a lot when they are wrong.  So many people agreed to that today.  The problem ends up being stop management.  That is not that their strategy is wrong.  The gentlemen that wanted me to do it was actually right.  This trade of mine is actually a high probability trade, but was a counter trend trade.  Even when I travel all over the world I don’t see full time counter trend traders only be successful.  I see small wins and big losses.  They get so used to many little wins.  They end up not learning to cut the loss fast.  If you shorted at the top here, they won’t want to put the stop one tick above the high.  If it goes up, they will let it go because they will think it will come back.  That ends up being the one that keeps going against you.  That is just a personal preference of mine.  Outside of the trading room.  I usually use that to show people when to stop trading, rather than continue.  If I am going to do those trades during the Live Trading Room, not during a public event.  The moral of the story is to always check the divergences.  It is so important to remember you positive and negative divergences. We talked about all the pivot points and how we look for those.

I shorted the DAX today.  We still were getting some fresh sell signals at the time.  I was trying to show people what I was looking for at the time.  We were close to key support as well.  I put my trailing stop very close to the trade because we were so close to key supports.  I got stopped out for a very small profit today.  We talk about the equity curve every day.  I want the curve to be slightly up or up a lot.  Slightly and flat, or up a lot is better than being down.  That is the kind of things we stress in the trading room.  We didn’t end up starting the even till around 9 AM Central Time.  When you are taking a trade into key support or resistance you are limiting your room to grow.  That could cause you headaches and financial stress.  A lot of you are probably shaking your head in agreement.  One important thing is that we don’t like to trade into the news.  It pushed down a few minutes before the Crude Oil announcement.  I have won competitions in Las Vegas where I just got done telling everyone in the room that it is a gamble.  Both times my competitors did end up taking trades, and blow up.  Trading right before a news release is usually not a good idea.  News with Crude Oil can actually affect other markets.  It is important for you to understand the reasons why we have these rules.  I helped you guys identify key areas to avoid many times this morning.  Was this one of my better trading days?  No it was not.  However I was profitable today.  That is what we are looking for daily with these strategies!

In case you didn’t hear, we moved to a one and done strategy.  I will do between 1-20 contract trades in my live account live in front of you.  People are really enjoying.  All the people who joined today shows that people are enjoying it.  I have some trading competitions coming up in May.  People will get to see me training for that.  Last year we started this trade guarantee, and it has been working out great.  There are so many trading rooms with tons of losses, or don’t trade live.  It is awesome that they can see me at least trade what they paid for their quarter, or they will get the next quarter free. There hasn’t been one person we have had to extend because I am meeting and exceeding my goals.

If you haven’t already signed up, go to www.becomeabettertrader.com/23x right now to get signed up and be a part of everything we are doing.  There is also a video you guys can watch about the trade guarantee.  The market is above 20,000 now.  What a great time to be a trader!  Whether it is a 50, 100,200, or thousand dollar win, our goal is to have a nice upward equity curve.  You guys all have a great night!

Leave a comment!
Read previous post:
Rob’s Market Strategy Continues To Be The Right One…Until This Happens

Welcome back everyone!  Let’s take a look at Goldman Sachs! Goldman Sachs made a higher high in price, and a...