My favorite trade is a counter intuitive, trader trade, where I wait for a head fake and then take the big move that typically happens in the opposite direct. In fact, I gave a spontaneous clinic on this sexy maneuver today in the traderoom.
If you want to hear about this setup, how my day started and my typical trading routine took shape this morning, check out my latest podcast episode here.
Here is what my favorite trade looks like. It’s funny because as I was describing it to a few dozen people in the traderoom, I actually talked my self into taking the trade. Watch how I did it in this video.
Don’t forget to join us Wednesday for my other favorite trade session, the Crude Oil Inventory Report, which likes to win an awful lot. Hope you can join us.
Even though I spent a lot of time focusing on the ‘Head Fake’ trade, there were several other great highlights of the session. Two of our other favorite daytrade plans hit their goals with the very first trade today.
The Dow eMini (YM) was one and done today. The Russell (RTY) was also one and done today. For a session that started out slow and dull, it ended up being interesting and profitable.
It’s yet another great example of how proven winning tradeplans work in mysterious ways. But when coupled with some higher level understanding of price action itself, the treasure that exists in the market can be extracted and dropped into your trading account.
Or as I like to say, our goose will find its happiness and begin popping out those golden eggs. You just have to learn how to make the goose happy. Whatever you do, don’t kill the goose!