Below are today's trades with the 3 questions asked for each trade. (setup, other index agree, room to exit)
- QQQ: Breakthrough short of 183.50 zone, SPY agrees no resistance, Room for a 1-1 trade - Result: exited when SPY hit its zone for a .60R gainer - (brain freeze as the SPY had a better setup)
- SPY: Fade off 286.10 zone Long, QQQ agrees, plenty of room until the next zone - result nice solid 1R trade
- SPY: Fade Long off 286.10 zone, QQQ agrees, plenty of room until the next zone - took a loss of 1R
HOW I DAY TRADE - MARKET NEWSLETTER The Newsletter is a service for active traders with a focus on short term Buy and Sell Zones and is provided for educational purposes. The purpose is to educate traders on short term trading setups through a two-step process of selecting Daily Charts and applying intraday trading setups. Always use a Stock trading simulator to test, master strategies and become more educated in the markets before risking real money. Become successful on a simulator for a minimum 6 months before risking your money and always use a stop. If the markets conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. A missed trade is better than a losing trade.