80 Point Runner + “The Golden Rule”

80 Point Runner + The “Golden Rule”

Transcript

“Okay traders, I thought I was going to have something really cool for you today. I was on Zoom this morning recording, and I said, you know what, let’s record today, you never know something awesome might happen. And I recorded this trade here, I took a long here and made a small profit, and then I was in this short. Boom from 0.5204 up here, I was in this short and somewhere in here my computer decided to reboot. I got back on Zoom, but I forgot to press record. I thought I was going to have an 80-pointer to show you today, but it didn’t happen. Now, if I would have followed my own rule, I would have had an 80-pointer today. So yeah, but I’ll still take an 80-pointer and not be disappointed. I’m mainly disappointed I didn’t have the video this afternoon, because we traded all day on Zoom. And when I got off Zoom at the end of the day here, I was like, okay, I need to make sure I download this. And there was nothing there. And then I realized I forgot to press record when I got back on Zoom. Oh well, 3 hours 30 minutes trade, and sometimes you get in the right trade and it just moves in your direction, and then you can play the game of chess. I mentioned that this weekend, to where as price moves in your direction. So let’s say I entered here, price comes down, it’s going to start coming back up. Well, my goal is to have a new bounce level here. So when price touches it, it bounces and continues in my direction. And then you get another protection layer. It can be here, it can be here. But then you just move your protection layer down and you stay behind levels that bounce as price. And that was beautiful. I got out here, actually here. And when we were moving down through here, I told the group, I said, okay, I’m going to stay behind two fair value gaps. See, there’s no structure here, there’s nothing here. There’s literally nothing. So I was going to stay behind two fair value gaps. I forgot I was on the one minute. So the two fair value gaps on the one minute got me out on this white candle. Had I done the two fair value gaps on a three minute, I would have been in the trade literally the rest of the day. So a trader error, a couple errors today, recording the darn Zoom and then not re-recording, and then not realizing I was on the one minute chart instead of the three minute chart for managing my runner. But it’s still a beautiful 80-pointer, three and a half hours. That’s exhausting. That’s exhausting. Now, when we got on this morning, this was up. I was saying, hey, the trade is long or flat until proven otherwise. And then what happened? Well, let’s come over here. I’ll show you what happened that we were calling out on Zoom. I said, well, look at this, DOW took yesterday’s high, NQ took yesterday’s high. We opened and never saw our opening again. And then NQ started coming in, DOW started coming in, and Russell was having none of that. It was only at yesterday’s half back. So the writing was on the wall. I took a low timeframe short right in here, and then it vomited. And we knew that today was going to be a day of high volatility. Price was going to move. The overnight session already had a monster move up. How much did the overnight session move? Well, it opened up somewhere here. Yeah, it was 50 to 60 points. I thought it was 60. It looks like it was 50 points. So the longs maybe had their due. We couldn’t get the opening, and we were only eight points from our RTH high. And can you believe it? That it went all the way down and took out this RTH low. Wow, wow, wow. And then the golden rule of trading. I’m going to start calling this one the golden rule. What’s the golden rule of trading? You do not counter a parabolic move. So at one point, this was parabolic. And in fact, in our group, you got a warning right here, check trend. Right here, you got, don’t counter trade. Right here, you got, don’t counter trade. And then right here, you got parabolic. Okay, parabolic move, play it short or flat. And then we started lading back up. I was playing the game of chess. My stop was up here. And then we got another nice move. And I was like, yes. Then we got another nice move. And I was like, yes. I’m so disappointed I don’t have the recording. But in this move here, you got to, hey, check trend. Warning, has things changed? Well, the parabolic got taken out, and then we started lading up. If I wasn’t in a short, I’d have been looking for longs in here. But I was in a short, playing chess. That’s all I was looking for. And then right here, you got, hey, check trend. It changed. Don’t counter. Things are moving. And right here, parabolic. So what’s the golden rule of trading? In our group, we do not counter a parabolic move. We do not counter a parabolic move. Nowhere in this move would you have been alerted to going long. Nowhere in this move would you have been alerted to go long. Now you drop in time frames. There’s going to be opportunities to go long in these types of moves here on a small time frame. I wish I’d have stayed in my short because then I would have just been in a short all day. I went for a couple longs in here, made small to nothing. Obviously, you’re countering, I expect to be taken out. But the general rule is the golden rule. Do not counter a parabolic move. And pretty much parabolic, it tried and failed hard. And then just a tiny little move here. And what do you want to bet that was off the RTH low? Ah, it didn’t actually take that liquidity. It was just before it and then vomited through this. Vomit was beautiful. In fact, it was moving so fast I could barely keep up with it. Let’s zoom in here. So when this thing was vomiting down, I said, I’m going to stay behind two fair value gaps. Well, this would have been one. You know, delete these candles here. That was one and here was two. But I was on the one minute chart. So what happened is one fair value gap, two fair value gaps, and I was out. No big deal. I’m not crying. I’m not complaining. Let’s do this. Now I’m going to bring on the strong levels. Let’s go down to a one minute chart. Let’s look at the day. So one of my traders passed an evaluation account on this short here off this strong level. Then we got a bounce off the strong level. We danced. We tried to get out and we vomited through it. We came down to the next strong level, danced around it, vomited through it. It was just a vomit through a day. And my next strong range, strong level is further down. We don’t need to see it. So those still played well. You’ve got to be good at knowing when things change and you don’t counter it. You follow the golden rule of trading. If you’re interested in how we trade, check us out at mtrader.com. Stay green, my friends. And to learn more about our group, go to microstrader.com.”

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