Last evening I conducted a private Dow Jones LIVE Trading in the office. It was such a choppy night where opportunities were pretty scarce as the Dow as choppy in a range as highlighted above. We managed to scalp some trades but not huge profits as there wasn't much signals for trading. The Dow moved up and then slammed down again and minutes later as it broke down, it reversed back up again. It was really a tough night but still like I said we managed to scalp for some small profits.
On the other side, we saw a nicer baidu chart but the ironic thing was it was already gap down $14 where there were no chance of taking any trades. A better trade was on Thursday where there were so much profit taking with a exhausted gap down at the top where a short sell trade would be perfect. Baidu got sold down huge time with -26.67 for the day and drop a huge 9.54% for the night. Well, it was such a difficult night and hence we called it a day after 10.45pm for supper.
We then went supper and I shared more on the emotions and money management side of trading. I believe every trader have their own set of problems including myself and hence it's very important to know what you really want to achieve in trading when you first clicked the buy/sell button. Ask yourself if you are looking for fast trades, scalp trades, swing trades or investment first before taking any trades. The chart has all the answers for you to see what you really want. I will share more during my next private event.
Ronald K - Market Psychologist - A Stock Market Opportunist
