Thursday, 3 May 2012

All these Patterns Just Keep on Repeating Themselves

Trading is a business where I just keep on doing the same thing over and over again. No reinventing the wheel in the midst of battle.

As electronic locals, we have wonderful tools to provide the information we need to make our trading decisions. Creating a structured methodology that leads to CP has never been easier. Make no mistake, trading is simple even though we try and make it more complicated than it needs to be.

Starting with one simple picture that you can trade over and over is the way to go. If you go back over the hundreds of pictures in this blog you will see the same trades over and over. Today's is no different. There was a change in trend yesterday to UP. Today, after the market opened, I just waited for the pullback and traded it up to my ressistance point - FavFib as I like to call it. I do this nearly every day, over and over again. Making a better than just a good living off just one trade picture is really possible if you have the discipline and do the prep work to learn.

I had the same trade, to the downside this time, on the TF yesterday. Every liquid market has these great trades. Probably, the more volatile the better. I'll be showing some more of my ES, TF, Euro and CL trades in the future.

And here was the same trade I just closed into the weekly jobs number : ES.

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