Monday March 26th, 2012: Yo-Yo Trading Day

Hello Traders,

When I was thinking about a brand new trader starting out in trading, this Big Bang Theory episode clip really reminds me how tough it can be for the inexperienced trader to really make money at trading.

Dr. Sheldon Cooper - Day Trader!!

Big Bang Theory:  Sheldon Driving

This morning reminded me of a Yo-Yo Trading Day going back and forth with no real direction.  Bottom line, these are markets to figure out quickly and stand aside.  You do not want to waste your firepower in a shoot out with this kind of action.

Just like in the Big Bang Theory Video Clip from CBS, your best is simply not good enough in a market that is not ready to be traded.  You will waste your money and cause damage trying to trade into markets that are not meant to be traded.

We can all learn a lesson from Sheldon here … theory is not good enough when you are trading … practical experience in a trading simulator will protect you and help you learn.

At some point, you will want to give it a whirl and step behind the wheel, my advice is to be prepared!

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Some of My Trading Notes on the Day:

DO YOU HAVE ENOUGH ROOM FOR PROFIT ON THE ENTRY?  NO!  We have the 50 BAR MA … but more importantly the Pivot Point was in the way with not enough room to profit on the trade … best to stand aside and wait!!

Nothing of note to talk about right now … we need to see a HVS Bar now to make any decisions or we will stand aside on the trading day.  There is the 10AM Eastern RED REPORT … Pending Home Sales.

We have had no HVS bars to speak of recently to warrant any entry … all we are in right now is a trading range and very dangerous to be in!

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March 26th, 2012:  2000 Trades Chart

 

Good Trading,

David ‘Tiger’ Knight

P.S.  YouTube Video Series on Trading Strategy:  HVS Trading Strategy

About The Author

David M. Knight

I am a 30 Year Futures and Commodities Trading Veteran. In addition, I enjoy games of skill and chance like: poker, craps, blackjack and roulette. During my professional career, I have developed and implemented successful trading strategies and methods; along with winning systems in games of skill and chance. Join with me on our mutual journey together.