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Trading Futures - Live Trade Interesting Situation? Sign up for our 5 Day Beginner Video Bootcamp
at http://daytradervideo.com
In this video I go over a trade I took on 1.15. There were a couple of interesting things
that I noticed about this trade. First off the market had a pretty decent little trend
going in the pre-market and it seemed that longs were having a hard time gathering enough
strength to change the direction of the market to the upside.
Along the same lines the first long opportunity in the market failed and almost confirmed
what my original thought was. So, when we were presented with the potential for a short
opportunity it looked really compelling. I took the trade with an OW (order waiting)
and got an immediate fill.
However when it starts moving against me I know one of two things can happen.
1. It is retesting the ML indicator and will bounce right off of it then head towards my
target.
or
2. It is going to just totally disrespect the ML indicator and charge straight through
my stop at 1450.75.
It's important to understand the possibilities when you trading futures. You don't want to
focus on only one thing happening. You need to be able to build your skill set for anticipating
possibilities in the market. This also helps when you lose. You won't be surprised and
you'll be able to build a tolerance for losing a bit better than someone who isn't anticipating
all scenarios.
Sitting around waiting to see what happens is not something that most people are good
at. In fact most people become very nervous while trading futures. I've had other traders
tell me that in addition to being nervous, feeling nauseated, accelerated heartbeat,
etc, they even have a burning sensation in their throat. If you're one of these traders
then you need to begin to focus on ALL of the possibilities, not just the worst case
scenario.
In the video we were expecting a pop right out of the gate and knew it was possible for
the market to stop us right out. Unfortunately this is exactly what happened. As you saw
in the video the market really started off not respecting our areas and I had to make
some adjustments to my plan after seeing this. No trades were to be taken until we made a
new high in the market.
That's it for this trade, glad you were able to see what it's like when a professional
trader loses on a trade while trading futures.