Good morning, traders! It’s the post-election, and it’s time to refocus on the markets. Yesterday brought some excellent trading opportunities with clear signals, and we captured some great trades! If you missed it, we have free classes available on YouTube.
Trading always comes with risk, so please avoid trading with funds you can’t afford to lose. Let’s jump in and look at the market today, the day after the election.
Current Market Overview:
The market is rallying with a lot of strength, but I waited for a slight pullback to enter at a favorable level. Right now, I see strong signals to go long, and I plan to enter at 5930.50 or better. Here’s my approach:
Limit Orders and Targets: Entering with limit orders ensures we don’t jump in too high. My target and stop are pre-set to manage risk and reward effectively.
Risk and Target Settings: I’m using a 1x ATR setting with about a 4-point target, translating to around $200 per e-mini. If you’re trading multiple contracts, just multiply by $200 to calculate your potential return.
Patience and Timing: I always wait for the right price – we don’t use market orders here. Entering precisely or slightly better can improve the overall outcome.
Trade Management and Time Consideration: I like to see trades move in my favor quickly. If a trade stagnates and just moves sideways, consider exiting at break-even or with a small gain/loss.
The Power of Price Action with Sonic System: Using our Sonic system allows for real-time signals, so you can confidently manage your trades. Whether it’s your first time or you’re an experienced trader, the live trading room offers a collaborative environment for questions, learning, and understanding each trade’s purpose.
Second Trade Setup – Long Strategy at 5933.75: Another signal came in, and it’s looking positive. My approach remains cautious, waiting for a favorable entry price and looking for a signal to go long. Remember, every trade is unique in its timing, targets, and price action. Patience is key.
Trade Management Tips:
Risk-Reward Balance: Avoid trades where the risk outweighs the reward.
Managing Sideways Movement: When trades move sideways, it’s often better to exit than to hold indefinitely.
Choosing the Right Entry Price: If you can improve your entry, it enhances your potential for success.
Final Trade
In today’s session, I’ll demonstrate three consecutive trades, walking you through each one to showcase how the Sonic system can be applied. This system is built to help traders manage trades logically, giving you flexibility on entries, stops, and targets.
The Path to Trading Success: With price action trading, your focus is on understanding market behavior rather than relying solely on indicators. This approach allows traders to make informed, real-time decisions without feeling rushed. Remember, you don’t need multiple trades to succeed—two or three trades with proper management and the right signals can be enough.
Ready to Learn More? To dive deeper, check out our mentorship program and free membership at DayTradetoWin.com. The Sonic system, along with price action training, provides a powerful foundation for any trader looking to enhance their skills.
Trade smart, manage your risks, and see you all in class!
