We’re now into April.
It’s hard to believe! This year has flown by so far.
I’ll try to keep more current with what we’re doing in the LIVE! Trading Room by posting some daily Recap Charts here in-between the occasional video.
In April, we welcomed MARK, WAYNE, BHAVIK and TONY to the LIVE! Trading Room where where we day trade some of the most volatile and profitable (and potentially dangerous) futures markets — mostly Crude Oil (CL), the E-Mini S&P (ES) and the EuroFX.
April 1st was Non-Farm Payroll Report Day. I don’t trade that in the LIVE! Trading Room and, instead, reserve the day for One-On-One students and others by special arrangement.
April 4th through 8th was a tough week, with a lot of whippy price action. You can trade that — and I teach you how in One-On-One training — but I usually don’t call those scalps in the LIVE! Trading Room. With such whippy price, it’s easy to get chopped-up with loss after loss. We didn’t suffer that . . . just took longer to make what profits we could scratch out. Here’s what we did:
April 4th: ES was pretty whippy but we didn’t have to worry about that market since we got the Daily Profit Target PLUS from Crude Oil trading alone.
I skipped a sell in ES since it wasn’t as good a set-up as I wanted — but price took out the lows like we thought it would, at least eventually.
April 5: We got the Daily Profit Target plus in the LIVE! Trading Room and were done before 10:30 a.m. Today we traded Crude Oil (CL) both long and short and used a channel in the E-Mini S&P (ES) . . .
On April 6 Crude Oil (CL) was trading in about a 20-tick range and put-in a V-Reversal. As noted on the chart, about 80% of losses in the LIVE! Trading Room happen with V-Reversals. The Daily Profit Target was nailed on Early Trades but during the U.S. Session we gave some of it back. That happens. Nobody can make money 100% of the time! But we look to (mostly) trade with the trend. Sometimes after a retracement but sometimes counter-trend to catch the retracement. And sometimes we take counter-trend trades when a move is ending. It was tough to get much of anything on April 6th after the HFT computers were turned on . . .
April 7 saw a partial Daily Profit Target and at least three missed trades: two I didn’t see until too late — focusing on the E-Mini S&P (ES) and one in the ES that spiked through our entry level and never came back. Still, not a bad problem to have: a profitable morning with three other winners slipping by.
April 8 ended a whippy week with a whippy day — four BE trades. Still a profitable week but a slow start to another month. I guess it’s like golf — when I struggle for par on the first hole, my round usually turns out a lot better than when I birdie #1. I wish I knew why.
April 11th – 15th was a better week. Here’s what we did in the LIVE! Trading Room:
April 11: We nailed the Daily Profit Target PLUS in the LIVE! Trading Room but had to work for it! The markets moved a little better, allowing our day trades a chance to hit their Profit Targets, support and resistance weren’t as solid and unforgiving — but it took an Afternoon Session to overcome the shut-out Morning Session.
There was no trading on April 12th — I had to take my granddaughter to an appointment. I make these missed days back through Add-On Days or a special Afternoon Session, if necessary.
April 13 was an Add-On Day — mostly with small winners. You take what the markets are giving.
On April 14th I was just out-of-sync with the markets and we lost 3-4 small trades and stopped (according to my Rules established years ago — the hard way). We don’t make money every day. Like I’ve said over-and-over: Nobody can. But what you can do is hold your losses down and hold total losses to a point they can be re-captured with a single trade, maybe two.
So April 15th came and we were still nicely profitable for the week — even with a Losing Day on April14th. On April 15 we got the Daily Profit Target in an Early Trade and then battled-away more small-range, whippy price action. I explained the importance of Fridays — and we stopped with another profitable week.
Then April 18th through 22nd came — the best week of the year (so far)!
April 18th was a long day. Since I knew I would miss April 19th, I traded the Morning Session, did rare Lunchtime Scalps, and held a special Afternoon Session. We got the Daily Profit Target PLUS in all three sessions! This is what you can do too day trading these volatile and profitable markets. Imagine finishing One-On-One training and being able to identify and take trades like this almost any day you choose. I only call somewhere around 1/4 to 1/3 of available trades in the LIVE! Trading Room and once you learn how to read price action, you’ll see set-ups frequently. Not all will be for 25-ticks or more. Some will be for 5-ticks (which I don’t call at all in the LIVE! Trading Room), some will be 10-ticks and some 15-20 ticks. Some are designed to catch the extreme(s) and can be held into the close . . . or trailed like I also teach — to squeeze out almost every tick available when you catch the HOD or LOD to within a few ticks. Anyway, here are the three sessions from April 18th:
No trading April 19th, like I mentioned . . .
On April 20th we had another fantastic day! We got an Add-On session with Early Trades, then the Daily Profit Target PLUS again in the U.S. Session. We traded through the release of the Crude Oil Report — which we normally don’t trade in the LIVE! Trading Room — but were already long and so with a 20-tick stop we targeted 50-ticks and 60-ticks and max’d-out the report spike.
But we weren’t finished. During the Top Down Analysis, I told everyone the levels of 2110 and 2090 would hold on the first test and to fade the first for a 10-POINT ($500 per contract) trade in the E-Mini S&P (ES). 2090 got tested first, entry at 2090 took two (2) ticks of heat and gave the full 10-POINTS in about 40-minutes. I stayed with the LIVE! Trading Room until the trade was at +1 (a free trade) . . . and recorded it for posting to my YouTube channel. These bigger day trades are available at least 2-3 days a week on average and are extras for Members of the LIVE! Trading Room. Like I said in the video, this one single trade, trading just one single contract, would pay for almost 2-months of the meager subscription cost all by itself.
April 21st was a tougher morning — with volume and volatility coming back into the markets. We got the Daily Profit Target PLUS again but had to take a partial fill on the second Crude Oil (CL) trade.
On April 22nd we ended the best week of the year (so far) with the Daily Profit Target PLUS — but not without having to work for it. Again, Friday rules were in effect and the markets were a little whippy.
But just like April 20th, we weren’t finished. I gave two key levels of support-and resistance and a longer-term day trade which was filled to-the-tick (entry 1-tick ahead of the S-R Level) and, this time, good for more than 10-POINTS. If exited at the lower S-R Level, you would have collected a sweet 13-POINTS on the trade — with a 2-point Protective Stop!
After such a GREAT month, we would be entitled to take the last week off — maybe fly somewhere on a nice vacation using whatever profits were banked — and enjoy the lifestyle trading offers. But I’ll be back calling trades in the LIVE! Trading Room for those trying to build-up their accounts, or gain the confidence necessary to take counter-trend trades, or beginning their One-On-One training.
Looking back, these kind of results are hard to imagine . . . unless you know how price moves. We take the markets as they are, every day. We take what price action is telling us the markets want to give, one day at a time, one trade at a time, work it with the best entry possible, solid money management, and then move on to the next trade.
You can find out more about the LIVE! Trading Room here.
And, remember, if your results aren’t what you hope for, you can join us tomorrow!