Risk/Reward Continued & Daily Emini Trading
Markets were a little more volatile today than yesterday. More than likely the new fears in Italy are fueling it. Doesn’t matter to us. Any increase in volatility is a good thing for day traders! In today’s video, I discuss the break even again and a bit more about Risk/Reward in our emini trades. Today was a good example, although it wasn’t as good today as it was yesterday.
I opened up with a losing trade, had to reverse and then broke even. At this point I am 2 trades into it and -6 ticks. I grabbed a nice long NSE trade for 5 ticks (was trying for 8). Grabbed a Pullback for 4 ticks, and finished up with another short NSE! By 9:42 I had my point + profit. The long term filter went short right after that, so I could have easily grabbed 2 more points, as most of my students did.
My standing on this is simple: If I open up with losing trades, my goal is to simply book a profit. I am very pleased about losing, recovering, and making “daily income” by 9:45. I mean, how do you beat that? Of course not all days are this quick. In fact, some are faster! In any event, you get the picture!
Ok. Great day! Thanks for watching the video! As always, email us anytime and check out our November special for new emini trading members !
Cheers!
ETS