It was a crazy and great day in the MT chat room. Things were really slow until the market dived at 2 PM this afternoon. This just kills me because I am running around between home and work and doing other job related things missing these great trades. I am proud of myself because in the slow morning I was out trading MT! but I missed my EURO trade (see below) and was pissed. Then I missed the bringing of the sell off and never could get a trade pulled off at work.
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Regardless, MT has spent a lot of time this week explaining his trades. This has been a great learning experience. He is not trading some black box but just simple chart patterns, indicators and so forth. None of the trading I have posted here has been a black box. I believe in learning the markets by the patterns and the feel. No, silly computers here. This is why I enjoy MT's chat room because I am learning so much (and I am an old fart).
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Above I posted the charts of the YM futures. Do not take my notes as being perfect. I might here missed a trade or two (again I am at work but on a very slow Friday) but that is a sample of the trade points late in the day that I remembered.
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Again I will point out -why I am not making a ton of money off of MT's chat room is because work gets in the way most of the time or I just try to out trade him (stupid idea 99 percent of the time). I will be taking a break from work and get sometime to trade full time. I can't wait.
This was an example of MT's only stock trade today. He has not been trading much stock since the market started going a little nuts but look at the entry and exit point - how more perfect could it be?
Again to prove I am NOT a MT robot, I came so damn close to pulling out a great day trade in the EURO. I always watch the first reaction to the news, give it about 15 minutes and go with the trend. Many times two things happen - the currency runs away from a small range area just to come back to it and then run away again - like above. You buy/sell it when it gets back into the range using the range as your stop loss.
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Or it will run in one way, pull back but not to its small range, then fail to take the initial move. You then go against the initial move using the max of the initial move as your stop. So many times you can get 50 pips out of a trade like this with little risk.
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The numbers:
Stocks: no trades
Stock Futures: Gross +200 Net +190 contracts traded 4
Forex: none (damn again)
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Again MT's chat has a week's trial for only $25. His results are here. No BS. I have been there and I know the results are correct. In today's chaos, MT had one break even trade and all the rest I believe went for gains (I could be wrong) but he is human. He left a lot of money on the table today.
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