Today is shaping up to be a two way trade day. Trade your short term technicals.

It’s a ” HE said She said” market” thanks to the our European friends.

A note on protecting your profits…

Yesterday saw us getting stopped out of trades, which at one time were big winners. Stops can be a two edged sword, sometimes if you lead off you look like a hero.

Other times, if you don’t wait out the game to the close, you get taken out, and the market goes big in your favor.

Brazil was up over 6% at one time. We took a great trade and whittled it into nothing. China turned into a nightmare because we didn’t liquidate on the opening yesterday.

This is the main reason we always want to pay for our stops. Take something off the table after the initial big push our way. This reduces our exposure and let’s us be patient to see if the direction will pan out.

We get to play on the house money, not ours.

Gold & Silver…these instruments have been range bound with known resistance levels capping rallies. They continue to be big day trades.

Model trading Portfolio…Current Holdings

No Positions