- Trading is tough...(Duh)...Takes tons of mental self-discipline and the ability to react emotionless to losing and winning trades.
- Here is something...Monday's are tough days to trade...generally have light volume and a small range... recommend if trading at all to trade half the amount of lots on Monday and the same for Friday's...
- Friday's are trend days...get on one early if you have a trigger...do not go in front of news though...too dangerous...half lots again
- Tues-Thurs are the days to make hay....full lots
- If first trade is green and you have scaled out profitably at least two of your scales...I recommend you trade half size thereafter to reduce your risk exposure
- Scaling...trade in front of price and have targets...look for momentum change (price)...keep trades green...give your runner some room but keep it green
- You better have stops and use them...no more than two points EVER!
- Breakouts...time is not your friend...No Immediate results...Bail...Get Flat..
- Look at volume and time of day...there are good times to trade and bad times...no which time frame you are in
- If you are trading more than 2-4x a day...you are doing something wrong...unless you are scalper..which I don't recommend
- Here is tomorrow's Pivot and Support and Resistance Numbers
- Pivot - 1327.83
- R1 - 1331.17
- R2 - 1334.59
- R3 - 1338
- S1- 1324.42
- S2 - 1321.09
- S3 - 1317.67
- Globex High - 1331.25
- Globex Low - 1324.50
- Good Luck and Trade Smart
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