A Simple Plan
Please tell me about your plan.
When the opening bell rings, how do you make money?
I presume that’s why you follow the markets… especially in these challenging economic times.
Again, I ask you, how will you make money?
How much will you risk? When will you enter? Exit? What’s your target? Stop Loss? (Whaddaya mean “what’s that?”)
If your plan doesn’t include goals, detailed items, including maximum allowable loss per trade,per day, etc, you have a hobby and not a business. If you have too many details, you have handcuffs, not a robust system.
We don’t have all the answers. We don’t guess every trade right. Truthfully, we acknowledge there are no guarantees in this business.
With that being said, we have developed a system that allows us tight stops (1 to 2 points), multiple targets if multiple contracts are played, and plays for aggressive to conservative traders.
If this is part of your plan to create financial freedom and some wealth in your life…
Now you’re talking.
We had the 69 magnet as resistance today, and called for the 62.5. 60.25, and 57.5 test.
Any more was possible, but the risk reward changes there and the 55.5 huge magnet and the 53.5 targets were left available after several attempts to break down the 57 failed.
Megaphone pb still taking place.
I see market pro Don Miller nailed it.
I will say it again: learn from the Masters like him who are doing what you want to do. Why re-invent the wheel?
They are short cuts to wealth and worth every penny you pay them in saving you time, capital, and opportunity cost.