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Trading the Downs than Ups of 11/24/08 - YM, CL, Dax, TY
Today's video is about 11 minutes, and goes fairly quickly through the Dow, T-Notes, Dax and Crude Oil in an effort to show you the actual trade set-ups that we took today -- and more importantly to realize how you start isn't always how you finish. We did not start well today, but that doesn't deter us from taking the next valid set-ups -- ever -- in the markets we've chosen to trade. We have a plan, and it's important to stick with that plan regardless of the outcome on any individual set of trades. Ultimately, we expect to end the session profitably, and while that can never be 100%, it certainly is the majority of the time. However, in this video you'll see that if we did not follow our plan we could have easily quit when down -- and not profited from the run of winners that came after -- or, if we used too much risk we would have a problem following our plan as well. Everything was at work here - the three key elements - the system/plan, trade psychology and proper risk: http://www.universalmarkettrader.com/members/UMTAdvancedTactics/1124Trades.htm
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