I hope you enjoy watching this live trade example, as there are several good learning opportunities. I describe how I effectively trade ranges, but I also demonstrate how to enter on a limit order when the trade triggers so quickly that you do not have time to enter your normal buy/sell stop entry order on time. Limit orders will not always get filled, but in this case, I was able to get my order filled rather quickly.

While there was a slight upward bias to this day, the market was still playing out as a range at the time of my trade, and I demonstrate how you should look to enter against the break out, meaning that the market broke higher above the resistance, and I faded that breakout by taking a short entry back into the range.

Prices had been moving back and forth from support to resistance and back to support up and down for a while, so the range was rather obvious by the time I took this trade. The expectation was that prices would at least pull back to the EMA again, and maybe prices would run all the way back down to support again.

Even though prices ended up pushing higher, the trade was successful and earned me a quick and easy 35 points, so this trade also demonstrates the beauty of our scalp and run trading strategy. With this strategy, you only have to be right for a short period of time and even a small move can make you money. Some times we will catch a large move and profit from a nice longer term swing trade, but even when we do not get a large move, we still make money and we do not watch our profits evaporate when the market turns against us.

This trade has already been posted to our YouTube channel, so if you follow along there, you might have already seen it. You can never stop learning though, so a second or third watch will probably allow you to pick up other small nuances you might have missed the first time viewing it. I hope you enjoy this trade and learn something from it.

How To Buy Low And Sell High

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Comments

Bobby April 25, 2020 at

Seeing how you wait for the trade to setup, enter and manage was very helpful as its more step-by-step, so its easier to grasp the correct process. Hope to see more live price action lessons. Thanks Mack.

Mike April 25, 2020 at

Baseball language: Hi-five and butt-slap, Mack. Great trade for profit and teaching us aging traders. 🙂 Thanks. Steady reminder for that all-important second push.

Mack April 25, 2020 at

About the only thing I like more than trading and investing is sports and fishing, so you will get a lot of sports analogies from me.

hannah May 22, 2020 at

good

Chad May 25, 2020 at

love the live trade! I’ve watched it a few times on youtube. There is a lot to learn from watching you wait for the setup and hear your explanation about what is going on all around the char, the trade, and what you are waiting for. Valuable lesson. thank you so much! definitely a favorite!

Ryan October 2, 2020 at

You didn’t make 35 points it’s ticks there’s a difference lol

Mack October 5, 2020 at

Go back and look again Ryan. I’m not trading singles there, so it is indeed 35 points and not 35 ticks. 15 points on the scalp, and 20 points on the 5 runners that made 4 points each. My math says that’s 35 points, and that is indeed a huge difference from 35 ticks. 🙂

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