2 trades today with just a tick of profit. Another very choppy day. December so far has been very choppy and with holidays just around the corner this might continue.  A few things that might jolt the markets out of this choppiness is FOMC announcement coming up this Wednesday along with some important numbers releases this week.  During choppy markets, the best strategy is being defensive and not over trading. Also, it is during this time that traders jump around to different strategies and lose money. Don’t give up on your strategy, no strategy works perfectly well all the time.

1 trade, +10 point winner on the emini NQ (Nasdaq). Today was a great example of patience and discipline. The market opened and started dropping, we almost had a short signal, but it was not confirmed and we did not take it. We kept waiting patiently and it paid off when we got a long trade. After getting in the long trade, it went in our direction for a few points before falling back and stalling for quite some time. We held on and managed to get 10 points from this trade. Traders should know not give up on their trading plan and continue taking trades. Past 2 days we had losing trades, but that should not have made us hesitate to take today’s trade! Read the rest of this entry »

Just 1 trade today, stop loss and we were done for the day. Monday started exactly how we had thought it would be. Slow and very choppy. With no news data coming out in the next few days as well, hopefully we will not be as choppy and slow. The market was pretty much dead with no moves till around 2 pm. It is extremely important to be careful on days like this and not overtrade. Most new and experienced traders have trouble with choppy days and suffer their biggest losses. It is crucial to learn when to stop.

1 positive trade today. Very interesting trading day today. The morning started off with sharp gains due to the news release, but late morning all those gains plus a lot more were given back by strong selling.  The market recovered back a little towards the close, but overall it was a very volatile day for a Friday. We finished off early with some profit and were done for the day. Enjoy your weekend everyone!

2 trades today. First one we had a few ticks profit, but the second trade went in our direction for a decent amount and we finished with 9.5 points profit. The markets fell hard towards the close with absolutely no move back up. The bulls didn’t even have a chance to breath! Emini Nasdaq (NQ) was holding the market and not going down, but when it did break, it broke hard falling nearly 20 points.

Decent moves in the market today, especially in the morning, but unfortunately we did not have any confirmed trades and didn’t take any trades in our trading room. One of the ways you can test your trading discipline is to see if you are anxious to take a trade when nothing confirms in your trading plan. We had a few members in our room that were anxious and kept asking whether we will take a trade soon. This can attributed directly to one’s trading discipline. You should never trade for the sake of trading, but trade for making money! Be disciplined!

We have finished a nicely profitable November and here goes December. Just one trade today. We were stopped out and donefor the day. Today was an overall up day with minor retracement until towards end of the day. I can probably say today was one of the shortest trading days for us in a while. Didn’t take long before market conditions changed and we were stopped out. We didn’t have enough time for an opposing signal to develop so we can take it. It’s OK. There’s always another day another trade.

Last day trading day of the month. You want to be careful. Not give back any gains and follow your trading plan. We are up nicely for the month and had 1 small profitable trade today. Total gains for the month are at around 31.75 points profit. You can times that by $20 times the number of contracts you trade to calculate your total profit. Let’s hope we can turn more losing day tradings into profitable ones by following a simple strategy. Let’s focus and get ready to have a profitable December!