Pt. 1 - Trading the NQ; 144 Tick
The next three videos will demonstrate a great trade plan for those starting out with UMT. We've looked at the NQ 144 over the past few weeks and if you missed those videos, we would recommend that you go back and watch them.
The trade profiles on the NQ 144 are small enough so that if you're just starting out, or if you have a small trade account ($5000 being the minimum level we would recommend) or, if you're just wanting to regroup and resharpen your tools, then the NQ 144 is the market for you.
Set goals for yourself. Practice your methodology, and see if you can make 25 perfect, consecutive live trades on the NQ 144 without making a mistake. Excercise strict power of quitting, that is, trade for a minimum of 2 wins and a positive result, then stop for the day. Only trade from 8:30 am to 11:30 am cst and then stop with 11:30 beingyour time based circuit breaker. Once you have completed your 25 mistake free trades, and have grown your account to a certain level that you have decided upon as a goal, in advance, you will be amazed at not only how the UMT edge has worked as intended, but also, as to how much of a better trader you have become.
This video will look at last week's trades. Then, proceed on to the next two videos to see what would happen once you're ready to trade larger trade profiles.
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