Trader Or Gambler?

A Recap of Today's Price Action & Setups:

See the full Battle Plan.

LEVERAGE:

Did you know that trading 1 MES is equal to trading 50 shares of SPY?

▶️ $25,000 in Notional Value

Did you know that trading 1 ES is equal to trading 500 shares of SPY?

▶️ $250,000 in Notional Value. 

If you trade 4 ES, that's $1M you are slinging! 

These ARE BIG contracts. 

Respect the risk!

TIP: Did you know you could trade shares of SPY with our system? Instead of going "long" with 1 MES (50 SPY Shares), you could trade SMALLER and enter with 10 shares of SPY. Of course, you would need to be aware of PDT rules. 

GAMBLER OR TRADER? THE GREAT TRADER TEST:

Today was the Day Before OPEX. A day with a Level 10 Warning Label for "squirrelly" price action where soul-crushing reversal candles are the norm.

The market will always offer something tempting. 

It is never short on temptations. 

But here is what separates disciplined traders from gamblers. 

A gambler might have had a big green day today and called it skill. A gambler might have taken a dozen trades and called it effort. 

A disciplined trader walks away small green and calls it a win. 

A disciplined trader walks away small red and calls it a win. 

A disciplined trader looks at the slop-n-shop and says... No Thank You. 

A big red day today?!?!?!? That voice in your head... the one telling you to walk away.. well, it was right. It is always right.

That last one is the hardest. 

Because walking away feels like losing. 

It isn't. 

Forcing trades in violent, choppy conditions isn't toughness. 

It isn't dedication. It is just noise... and noise costs money. 

The best traders aren't the ones who "find a way" to trade every day. 

They best traders are ones who know... with confidence and zero apology... when the market offers nothing worth taking and when it is serving up exactly what they came for.

Walking away from low-probability trading environments? 

That is the mark of a great trader.

TIP OF THE DAY

How did you enjoy trading violent slop-n-chop?

Maybe taking a four-day weekend on the third Thursday and Friday is a good idea?

The "Day before OPEX" and "OPEX" are indeed low-probability trading days. 

If you are using our Journal Software, be sure to mark TODAY as a SPECIAL DAY... The Day Before OPEX. 

TRADE OF THE DAY

BATTLE PLAN:

🔥 Battle Plan (1️⃣) offered the opportunity for entry but wild violent price action made it near. impossible to HOLD ON to the entry. 

ZOOM:

We called multiple trades opportunities that offered little to nothing. Mostly break even trades and then the call to close your DOM and walk. 

CORE STRATEGY:

This is a No-Trade Day. I think you get the picture. 

SCOREBOARD

Accumulated Points This Week

Battle Plan	Zoom	Core Strategy
60	75	0

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STRONG LEVELS:

Members Only: Micros Trader Strong Levels 2.15

7-Day Trial Members: Private Message Me for access. 

See the full Battle Plan.