Live Trade Example 03-13-2024
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I recorded a live trade I took this morning for learning purposes. This was a second entry long at the lows of the early range that setup during the overnight session. The scalp yielded 15 points and I got another 15 points on runners for a profit of 30 points. There are a lot of good learning opportunities in this video, so take the time to view it.
Comments
NomadJay March 13, 2024 at
Awesome. This was great. Thanks Mack.
killershot190 March 13, 2024 at
Great trade. I have a question regarding this trade. Since there was already a break and a new high of the previous uptrending green channel, shouldn’t we have waited since now we’re expecting a correction or a straight up reversal? Or did you just take the trade for different reasons like a failed breakout out of that big range + the expectancy of a measured move up?
Mack March 15, 2024 at
There were multiple reasons. I talked about the two-legs, so this was a second leg up. When you get a second leg up like that, it should play out like a separate trend, so I was expecting a retest of the high there as well. I was also playing it as a possible range, with prices almost always moving back into the range again after a breakout, even if only a temporary move back into the range. Ranges are very predictable in most cases.
thevmackwin March 13, 2024 at
Wow, live trade on slow range day, thanks Mack!
grogu March 14, 2024 at
Thank you, Mack! This was great. I find it helpful to follow your though process in real-time as the trade is setting up and developing.
At the same time, it must be a bit nerve-wracking having to narrate it out loud! A bit like trying to narrate your driving 🙂