(See Above) Today we had a light “Gap and Go” open with the equity markets opening higher. The ES drifted higher after the open and we got exposed to some nice traction on the first trade alert. Within an hour the market started to run out of steam and started to drift lower spending the rest of the session moving lower all the way back to the opening price. For a Monday we caught some light positive traction.
(See Above) Today ended up being a low momentum choppy day with little directional movement to work with. The system sent one alert out on a move above 2080 and we got exposed to almost 3 points of positive traction. The market went dull on us and the volume dropped off and the system didn’t issue any more signals for the remainder of the session.
(See Above) We experienced more action today with the system issuing 6 different trade alerts. The first trade out of the gate was probably a wash for most folks but the 2nd alert at 2084.00 we caught some nice traction on a strong price thrust up to 2091.00. The 3rd alert issued at ended up giving us 3 points of positive traction but the entry was tricky due to the volatility after the entry went out. There was a sharp spike down shortly after the alert. If you took the trade right away you got to a 3-tick delta target but then got knocked out at Delta Neutral. If you didn’t take your delta target exit then you probably suffered a full-stop on the entire position. If you took the entry right after the spike down then you did ok hitting your delta target and staying in to hit a multi-point target. (Volatility at point of entry is one of the biggest challenges we face as day traders) Some Trade Entries involve a little “luck of the draw” to stay in for the win. On the 4th trade in, unless you took counter-measures to play defense you suffered a full 1.5 point stop-out. In the end, 4 of the trade alerts got you to a guaranteed 1-Point Delta Target or no-lose configuration before going on to deliver multi-point runs.
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(See Above) Today was “Pre-Brexit Vote” day so the market stayed pretty clammed up most of the session trading in a tight dull range. The market perked up for just a short time and the system caught a low-traction entry just under 98. It was just enough of a price move to capture our 2-part +0.75 and +1.25 Scalp Trade and be done for the day. The market went dull again and the system issued no more alerts for the remainder of the session.
(See Above) Today, (the following day after the Brexit Vote), the market experienced a HUGE gap down of epic proportions. (The DOW for example opened up over 500 points down.) We had a super wide Morning Quicksand Zone from 2026.00 to 2041.00 (or 15 points), created by the extensive pre-market price activity. The morning gap down today was so big it could almost NOT escape an initial bounce/gap-fill attempt (from short covering alone) and that is exactly what we saw right out of the gate. Within 5 minutes or so the buying pressure popped price out of the morning quicksand zone above 2041 and then went into a parabolic run-up. The System was just about to issue a long at 2043.00 but price moved too quickly and the alert got canceled before it went out. It was only about 20 minutes later that the System issued another alert to get long above 2049.50. This trade caught over 8 points of traction so no matter where you got in you did ok. The next two trades were also high traction entries. The upward momentum started to run out of steam after about an hour and the long entries starting having trouble with follow-through. You can see that the final two trades did not give us much to work with. The price action today was a bit jumpy and jittery making it difficult to get good fills close to the System Alert Prices, (several trades I got filled a full point away) but the follow-through, at least for the first 3 trades was enough to run us to multi-point targets.
(See Above) The market threw us a lot of curve balls this week. We either had dull range bound price movement or experienced wild multi-point gyrations and price swings. For the most part, the market was on edge waiting on the UK Brexit Vote on Friday morning. On Average, the system signals exposed us to a 3-1 positive to negative tick traction ratio for the week. Your job as an individual trader is to develop and hone your Trade Management skills to the point where you can capture as much of this positive point traction as possible.