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Hello and welcome to realityfuturestrading.com.
In today's video I am going to be going over some of the
trades, both the good, bad and the ugly for the reality room
this morning.
Let's go ahead and let's get started off here
on a positive note.
I'm going to bring in my 12 tick Mean
Renko chart right here.
And I took this opening trade right here on the NQ.
One of the things that I like to a lecture about write about
is that trading the open can be a little bit dicey, and I
don't generally suggest it to traders to trade
right at the open.
Well, anyway, long story short...
greed got the best of me.
I filled here.
I did get my first profit target, and I got taken out on
number two.
I was actually down a tick on that
particular trade right there.
So not too bad for the NQ.
It wasn't a loser.
However, right out of the gate I also took a mini Dow trade
right here.
As you can see, I filled right here.
It went my way, probably two or three ticks, and then it
proceeded to fall over on me.
Now it was moving down pretty fast, and I opted to jump out
a little bit early.
I probably saved myself about $80 jumping out early, because
I have my stop right down in here.
So right out of the gate, I was looking at losing morning.
Now one of the things I want to point out is, this kind of
stuff happens.
It's very common that if you're going to take the risk
and trade the open, if greed does get the better of you,
which sometimes it will--
I know it happens to me--
the main thing that you've got to do is you've got to
remember to keep a cool head.
What you've always got to realize is, you know what,
there's always going to be another opportunity.
It may not be in five minutes.
Who knows, maybe it's not even for the rest of the day.
But there will be other day trading opportunities.
OK.
Now I kept a pretty cool head in the room throughout this
whole thing.
You saw where got stopped out on the 12 range chart.
I'm going to go through the YM trades first, and then I'm
going to go through the NQ trades to show you how I
turned it around.
One of my YM trades I made right here-- real
good looking set up.
Real good looking set up here.
Price passes through the band.
I get a pull back here.
And then I get a transition right here.
And I took this trade right here.
This helped we recover as well.
I actually extended my profit targets on this.
And I hit profit target number one, which I had extended.
I jumped out a little bit early on profit
target number two.
I just didn't want to have my winner turning into a loser.
Now I showed you this trade here on the eight
range Mean Renko bar.
I also took this trade right here on the 12.
And I get my first profit target.
And I got my second profit target as well on this one.
Again, just keeping a cool head, like I said, you're
going to get other opportunities, especially if
you're using DTS and you're using all three of the birds.
If you're using the falcon, the eagle, and the hawk,
you're going to see some opportunities
throughout the day.
So that was the last of my Dow trades right there.
Next, I'm going to cover my NQ trades.
Well, you saw at the open the one that I took on the 12 tick
chart was a $50 winner.
So next, I get this huge down move right here.
Now like I said in the blog post, I don't care how good
your signal generator is--
nothing is perfect.
I had a perfect looking set up right here.
I was all set for a big down move looking to reach at least
towards the Globex open.
And here we go--
three bar pull back.
I get a tag on the micro-scalper line.
I get my signal.
I jump in there.
And you guessed it--
ka-pow.
I get stopped out.
Well, that's OK.
Like I said, keep a cool head.
Keep an open mind.
Remember, there's always going to be an
opportunity in the market.
One of my other favorite things to talk about is not
trading during the lunch hour.
Well, if you've been watching the markets the last few weeks
like I have, you're going to know that there are definitely
some lunch time opportunities these days.
And here is a lunch time opportunity.
This was a very, very fast move to the downside.
And here's that set up.
Now it failed earlier.
However this time, I get a pull back.
I get a tap.
I get my signal, and down she goes.
And I am out with a profitable trade.
That was the last trade that I took on the hawk microscalper
for the NQ for the day.
Overall, it was a tough start this morning.
I made a mistake.
I broke my own rules by trading the open.
Right around 9:32 Eastern Standard Time, greed got the
best of me, and I got what I deserved.
However, by keeping a cool head, keeping my head in the
game, and just waiting for the next opportunities, and
waiting for the proper signals to generate, I was able to
turn my day around and actually have
a profitable day.
Well, I hope you found this video to be informative.
If you have any questions, please feel free to email me
at ray@realityfuturestrading.com.
Thanks.
Have a great day and, I hope to see you in the room.