Monday Rundown PLUS Trading: Using Smaller Charts to Take Advantage of a Slow Moving Market +$737.50

Hey there my friends!  Today was a bit of a long one for me.  I did go through the Monday Rundown to evaluate what we’re seeing.  We talked about how to minimize the tick charts, using the proper Fibonacci numbers, in order to take advantage of the lower volume/slow moving markets. When we have a much slower moving market, if we stay on a bigger picture, then we can find ourselves getting caught up in fear about getting into the moves.  The bars on the bigger chart will look much larger and it will seem to just “take off” before you can take advantage of the opportunity.  If you move to the smaller charts and set aside the larger ones, then we can find ourselves seeing the market in a much different and brighter light.

So, as soon as I finished the Rundown, I noticed an opportunity.  My recording had been shut down, so I quickly popped it back up.  I didn’t realize until a few minutes in that I was not recording my screen but I was recording just my awkward self (who had no idea I was on camera lol).  This means, you do miss me actually taking the entry- but the market was moving so slow, you don’t miss a lot. I did leave in a lot that was talking about how it was not easy to stay in the trade or resist from moving my stop up, because when the market moves slow-- you tend to allow yourself to overthink.  It is a natural process and you can hear me talking to myself about being patient and that nothing had changed, so there was no reason to take myself out just yet.

I made the choice very quickly that this was going to be a “one and done” because I knew I would not have the patience (or the time) to sit through any more action.  Oh, and also, I did only trade 3 contracts.  My expectations were extremely high, so I decided to take it down a notch in order to minimize the possibility of a larger stop out. I did end up with +14.75 points and I shut that puppy down as soon as I exited.  No reason to keep it open and tempt myself with anything else. And that will probably wrap up my 2023 in trading.  We here at RDT will be taking a little time off to enjoy the holidays, have a break and spend some time with our families.  With many traders doing this at this time of the year, we will notice a considerable slowdown in the market and there is no reason to sit through some mind-crushing, slow and almost painful moves. 

So we hope that you have an amazing holiday season and that the New Year brings you all the things you wish AND work for!  Much love you amazing people and next year, you know that we are looking forward to catching YOU on the profitable side!!