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OMG! After 12 consecutive winning days, a loser in the TRADING ROOM! Mentor Mike and his GADGETS are human after all!

OMG! After 12 consecutive winning days, a loser in the TRADING ROOM! Mentor Mike and his GADGETS are human after all!
 

Fellow Traders:

Yes, after 12 consecutive winning days in my live TRADING ROOM, we finally proved our humanity with a losing day. And, in keeping with the motto, “Go big or go home,” it was a doozy: -$5,469 with 5 losing trades and 4 of them in a row. After earning a GRAND-A-DAY on the first 3 trades, lengthy consolidation had me buying highs and selling lows the rest of the day.

But, to put it in perspective, this was only a couple hundred more than the best TRADING ROOM day we had in October (+$5,245). Days like today highlight the wisdom in using a monetary target like our Grand-A-Day as an exit strategy in live trading. But when we are training, we need to test our skills against all market conditions. It appears our technique for sideways channels needs some work. And, don’t miss my next webinar:

HOW TO PLAY ‘BEAT THE MARKET’!

Thursday, November 06, 2014 5:30PM EST

http://onlinetradercentral.com/presenter_QZ5Y7Q.asp

 

Today’s Charts

Here are today’s screen captures.  They may include my personal chart, the TRADING ROOM demo platform, charts submitted by students and/or my running intraday Elliott Wave count in the S&P Emini.  Please click on a chart to make it larger. 

Chart #1

Chart #2

 

 

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