Hi all:
Just a couple of things…I demo’d the P3 core trades for a week or two and noticed a lot of winners. So after watching tons of the educational videos, I decided that while i was learning certain strategies, I might Live trade some of the P3 core trades. Of course wouldn’t you know that the two I decided to trade finished OTM, while another that looked like it was heading south I got out of and it finished ITM(the recent USD/CAD)! After having a pity party, I just had to laugh…who would of thought that the USDCAD trade (yesterday or the day before)would have come back? I closed out with a loss about 1 hour before expiration(trying to minimize my losses/“expenses”)…my bad, i guess.
Trying to learn from this, the P3 core trades have about a 70/30 win/loss ratio…so did i just happen to pick the 30% losers?
On a positive note, Darrell describes an analogy of the Shark ( marketmover) and the Remora (hopefully us traders) in one of the Elite MVP videos…I had the US500 chart up yesterday and applied what he taught with my demo account…it was truly amazing and “heady” stuff! I had 5/5 winners! Wow. Of course i realize it wouldn’t be like that all the time, but was pretty amazed. I actually felt like i “knew” where the market was going, watching the price run up, then go down to take out the buyer stops, then go back up to take out the seller’s stops, run up, pause, then run up again…I didn’t trade during the “pause”( guess Darrell would say I could have traded a “butterfly” during the pause but haven’t watched that video yet!)…definitely worth watching if you can follow the concept. Thanks for that info Darrell and for all of the Education on this site!
Dtrader