The market was quite bearish last evening where I shorted the Dow Jones as it was breaking down. I was fearful that it might rebound but after a failed breakout, the Dow Jones jammed and went weak that gave way for more sellers to take control. I did a scalp as these days, it's just tough to hold traders over night. Closed my first position at about 10pm.
Just like I thought it was really bearish, I went on to short again, but this time round, I must admit i commit a mistake of chasing it down instead of patiently waiting for it to rebound first. In my mind, I knew I need to get out fast if I had a chance. I shouldn't have chase on the bar down but watch and observe first before trading again. As you can see, I was under pressure and my positions went sour. Dow Jones recovered a little and everything seemed to turn bullish. I was just telling myself that should the Dow had a ws or a flush, I am ready to take some small losses or profits if possible.
After some minutes watching anxiously, the Dow indeed came down and I knew my chance was here. I must get out quick and closed everything by 12 midnight as it might be tougher in the night. As you can see my pressure reduced a lot and the Dow came down a little, touching the demand zone and it's time to cover my short positions. Without hesitation, I went on to cover my short positions and made some hundreds while lost some hundreds. I called it the day as I decided to stop and sleep.
Records flew in for my students. They were inspired as much as I was and was determined to make $$ under my leadership. Most of them trade small, but it was ok as most important they gained confidence, experienced and some small $$. Seeing them using the strategies I taught and the method I shared to make $$ was such thriller because I know they have a skill to make $ anytime they feel like it. Congrats and see you all soon.
Ron K - A Game Changer
