What a week it has been! We all knew it would be a fun filled rollercoaster ride, chock full of opportunities, when we looked at our charts Sunday night (May 5th) and saw the Dow was down significantly.
Unsettling time, for sure – you never know if Trump is going to tweet in the middle of a trade, if China is going to respond at any given moment… All we can do is take the trades and know that we have an edge.
Given some restrictions that are in place via Top Step Trader, I have to be careful getting into trades before an econ report. They have rules that must be abided by, or you have to start over. On that note, I avoid certain times, so my trades are typically going to be after 10 a.m. est moving forward, as I won’t allow myself to get stuck in a trade, only to have to flatten it due to news.
On to a few of my trades
Monday, May 6th. WOW. What a recovery from Sunday night?! It was ‘Buy the Dips” all day long. Definite strength from the bulls trying to regain ground. I had 3 longs – it was just a grind upwards all day long. Realized it when the market was STILL making new highs well after lunch, so I just held the last long until I couldn’t. I used a 5 min chart on the NQ – was reading Mark’s texts via Telegram, and thought it wise based off what he was saying.
Next long with entry at 11:20 – filled at 7775.5 and out at 7786; profit of $230 per contract.
My final trade I held onto for quite some time, using Inteligex trailing stop. I entered at 2:10 with a fill of 7772.75 – trailed for quite some time all the way up to 7816.75. Profit of $880 per contract. What a day!
Tuesday, May 7th. ‘Sell the Dips’ all day long! At least most of the day.. My first short was at 10:35, with entry of 7686 – out at 7671. 15 handles which works out to $300 per contract.
Traded off and on the rest of the week, using a 5 min chart and just putting my faith into the Inteligex signals. I took losses this week, which is not something a trader can avoid. It’s just part of trading! You just have to get an edge, and do your best to trust that edge, and exploit it to the best of your ability. I’ve had quite a few months now of solid consistency using Inteligex, and I stand behind this product fully.
Knowing the best is still yet to come, has me very excited about the impending release of Amethyst. A big THANK-YOU to Mark and Peter for all their hard work, and commitment to us.
Stay safe, and Stay Green!