Tesla had a stellar performance in last one year. Going up by 53% while S&P500 (SPX) went up by 21% in same period.
Out of that solid TSLA up move, last 3 months has seen a growth of 43%. SPX increased by only 7% in that period.
This lead to the quarterly earnings announced on 22nd Feb 2017.
What about so called experts' views after earnings data came out? Several of them came out with positive comments on Tesla like Baird's comment (seen from Thomson Reuters News): "Tesla Energy's potential is still undervalued", "Tesla suits the Made in America Theme ..." etc. And even went on to raise the price target of Tesla to 368. Tesla Close don 22nd Feb 2017, after earnings result was announced, at a price of 273. Huge potential upside - isn't it?
All these may lead a Superior Profit Investor to buy Tesla now. Not so for Superior Profit Investors. Why?
To start with, Superior Profit Investors are not lured by news events to buy at the top. Following Superior Profit Way, they would have taken a Long position in Tesla many months ago. And they would book profit or protect profit at current levels. Tesla is currently at CUE Pendulum High level now - too high a price to enter Long. Superior Profit's optimal place to enter Long Term Investment is at Pendulum Low Level.
Secondly (and secondarily; as Superior Profit Investors prefer to do their analysis rather than relying on others' estimates), though some analysts upgraded Tesla, the current target price of Tesla based on aggregate analyst estimates is about 245, which is about 10% lower than the current price. Current aggregate analyst recommendation is Hold and not Buy or Strong Buy. Also, though Tesla Q4 Revenue was somewhat above expectation, Q4 EPS came quite below expectation, and turned negative from positive.
Thirdly, as seen from the CUE Line Chart of Tesla using Weekly interval, it is at a resistance price zone and not at a support price area. This multi-peak resistance area is not a time to take a Long position in a Stock.
Finally, when we look at Tesla using CUE At A Glance view, which combines Weekly Backdrop chart with Daily Hop On Template, we see several indications of not going Long. And probably even signs to take a Low-Risk Short position in Tesla right now. Why so?
In Superior Profit Way of Trading Profitably, Fake Breakouts at CUE Memory or Watermark levels accompanied by Heavy Activity often gives us a Low-Risk Entry Point. Weekly Backdrop chart of Tesla is showing such Fake Upside Breakout. What's more, the Fake Breakout is happening at the same level where CUE Bearish Headwind foretold a sharp drop in Tesla around July 2015.
In summary, what is our view of Tesla for those holding a Long position? We suggest you book some profit. Or, at a minimum, tighten Stop.
In Superior Profit Way, we only take Low-Risk Trades that also have High Probability of success.
If you decide to Short Tesla at the current price, you might book or protect profit using CUE Protection price level once the Risk Distance ( the difference between Short Entry Price and Stop Price) is reached or if Tesla hits a Support Price Level after your Short Entry.
Where is the current Stop Price level for any Short position in Tesla? CUE System Traders use CUE Protection level for deciding that. In the last up move of Tesla that started in Dec 2016, this same CUE Protection let Superior Profit Traders hold on to Tesla Long position for the long haul and get a very significant profit while protecting it along the way with Stop orders. This same CUE Protection indicator may now be used for the Short position as indicated in the CUE Hop Off Template chart.
There you go. With Superior Profit analysis of Tesla, right after its earnings announcement on 22nd Feb 2017.
Our traders share such trade ideas regularly in our Traders Community (in forums including Trade-Ideas from Superior Profit, Graduates-Club, the invitation-only club for traders from around the world, etc.), and we discuss them frequently in our Live Classes. You may check those out. They are open to the public for free. As a Superior Profit's way of saluting the serious trades from all over the world.
For Day Trading, Superior Profit Traders enter trade precisely at the right time using CUE Fine Tune Real Time chart. And they book profit with discipline. Sometimes, if the trade has not entirely played out, they may carry the trade forward to next day. All along, executing the trade following a pre-thought-out plan.
The two trades I took on DIA (ETF) in USA Market using Weekly Options on 3rd and 4th January 2017 are good examples of this Superior Profit Way of Trading Profitably. I will share the detail of these two trades below.
To begin with, I like to keep an eye on the Broad Market indices, futures or ETFs of the country I am trading. For USA Market, these are the three ETFs SPY, QQQ, and DIA.
I had noticed earlier during off-Market hours that DIA was near Memory line in CUE Daily Hop On chart. I anticipated that the Memory might act as resistance and DIA might move sideways for a while or come down from the resistance; just long enough to make a Day Trade profitable.
Here is the CUE Hop On chart of DIA at that time.
As you may also notice, DIA had displayed a Bearish Headwind signal on the Daily chart a few days ago. That further supported my short term Bearish view on DIA for a Day Trade.
Next, I looked at CUE Fine Tune 5 Minute charts of DIA, QQQ, and SPY.
I noticed that DIA was the weakest. I observed this weakness by looking at the price movements of the three ETFs around the Fine Tune Pivot Levels.
CUE Fine Tune chart draws the Early Range Pivot Levels soon after Market Open. By looking at the Stock's move within or out of Early Range, we can see if it is Short Term Bullish or Bearish or Neutral.
If the Stock (or ETF) moves out of Early Range High, then the Stock is Bullish in the short term. And if it goes below Early Range Low, the Stock is Bearish in the short term. If the Stock moves within Early Range, then it is Neutral in the short term.
As seen from the Fine Tune charts below, DIA was not able to go above Early Range High. However, both QQQ and SPY went well above Early Range High in their respective charts.
In Day Trading, if I am looking for Shorting a Stock or ETF, I tend to Short the weakest among related symbols. This principle (and the Memory Resistance in DIA Daily chart) lead me to take a Bearish Day Trade on DIA using Weekly Short Call Vertical. I used "Short" Vertical to have time decay in my favor. Below is the Risk Profile of this trade.
I tend to place Good Till Cancelled (GTC) profit booking order on a partial position as soon as my Trade Entry is filled. In this case, I did the same. And within 1 hour; as highlighted in the chart above; half position was closed with 50% profit.
At the end of the day on 3rd Jan, just before Market Close, I looked up DIA in CUE Spotlight - which combines the Daily Hop On view and Intraday 5 Min Real Time Fine Tune view of the instrument.
This snapshot is shown below. I noticed that the Daily Candle was ending the day with a Bullish shape; with Long Lower Tail. And in the Fine Tune, 5 Min chart on the right, DIA had recovered significantly from Day's Low. As I initiated the trade as a Day Trade, and the day was ending with Bullish tone, I decided to close the remaining position at 25% profit. This trade resulted in a net profit of 37% on the full position within one day.
The trade was taken as Short Call Vertical using Weekly Options (DIA 6 Jan 2017, 199/200 Short Call Vertical). Below are the actual orders executed for this trade.
I closed the 3rd Jan DIA trade with profit. After closing this trade, I noticed that DIA was still below the Daily Memory Resistance. So, next day, on 4th January, I kept an eye on DIA. Looking for another opportunity to take a Bearish trade - provided the CUE charts signaled one.
As it turned out, again, DIA was the only one among DIA, QQQ, SPY that failed to go above Early Range High in the morning session after Market Open. And I took the same Short Call Vertical spread that I used the day before; using Weekly Options.
Here is the Risk Profile of this second trade.
As usual, I put my GTC profit booking order on half position at 50% profit level. However, this was not triggered. At the end of the day on 4th Jan, I looked up DIA in Fine Tune 5 Min chart. DIA did not go down. Neither could it go up. It Closed right inside Early Range. As the Daily Chart Memory Resistance was not violated, I decided to carry the trade overnight. Below is the CUE Fine Tune view of DIA at the end of the day on 4th Jan.
Carrying the trade forward turned out to be the right decision. Next day, DIA fell, and the GTC profit-taking order on half position was executed around 11 AM on 5th Jan.
I then put another quarter position profit-taking GTC order at 75% level. And before midday on 5th Jan, that was also triggered. I was then left with a quarter of the original position. And I decided to try to let it expire worthless. Knowing that from this point onward, the trade was a guaranteed Risk-Free-Trade. Even if DIA rallied, due to the loss-limiting feature of Vertical Spread, the overall trade was going to make a profit.
Here are the DIA Vertical Spread orders executed on this trade till this point.
Next day; on 6th Jan; which was the expiry day of the Vertical Spread, DIA did not come down. Instead, it went up and Closed at 199.51. Right in the middle of the two legs of the Vertical. The DIA Long 200 Call expired worthless. And the DIA Short 199 Call was worth 0.51. I had opened the Vertical Spared for 0.41 credit. So there was a small loss in this remaining position.
Overall, still, the trade made 44% profit in 3 trading days. I was able to capture a profit as I booked profit in a disciplined manner at 50% and 75% levels without hoping for a much larger profit on the whole trade.
The CUE Fine Tune 5 Min chart below explains the full trade Entry and Exits.
As these two DIA Day Trades show, a disciplined trader can use the CUE Charts to make a significant profit using Weekly Options. Superior Profit Traders do that regularly. And sometimes they share their trades while they are taking it.
Both of these trades were posted in Superior Profit Traders Community while they were entered. Not as a Trade Alert to fellow traders. But as a way of demonstrating how the CUE Charts may be used to take disciplined and profitable trades. The trades are posted before knowing their outcome. And sometimes; if required; our traders accept a small loss and move on to next trade. That detail is also shared in the Community posts.
You may find the 3rd January 2017 trade in Traders Community following this link and the 4th January 2017 trade following this link.
There are many similar Day Trade ideas as well as Long-Term Investment, and Swing Trade ideas in the Superior ProfitTraders Community.
I hope as you go through these trades, it will give you some insight on how Superior Profit Traders are taking profitable trades every day in different countries around the world.
If you read the many Internet sites explaining Options trading and listen to Options trading educators, you will find a deluge of information explaining how Options trading can be profitable.
Usually they proclaim: if the Stock is moving sideways, do this. If the Stock is going to break out and make a solid up move, do that. If the Options trade is not working out, then evaluate where the Stock is going to go next and adjust the Options. On paper, it all looks great. In reality, if you have traded Options following their advise, you will know that it is not so great in real life.
The secret and the challenge that the Options trading sites and educators do not tell you is how on earth can you know if a Stock is going to move sideways within a given time. Or how you can say if the Stock is going to go up or down in a period.
Why many educators keep quiet on this matter is because they don't have a profitable system to trade the underlying Stock in the first place. If one could do that, one could then apply Options trading strategies to multiply the profit percentage by using the leverage of Options.
Compare this with Superior Profit traders who everyday use the CUE Trading System to trade Stocks profitably. Using CUE System, they can reliably assess which direction a Stock may move (or not move) and make profitable trading decisions. And, therefore, they can also trade Options to multiply their profit on the Stocks using the same CUE Charts.
Here is an example of an Options trade I took recently using CUE Charts. I took this trade on Blackberry (BBRY) using Short Call Vertical (Bear Call Spread) just after Blackberry's earnings.
On 20th Dec 2016 as the USA Market opened, news media were full of reports of positive earnings from Blackberry. Below is one such news alert that caught the eyes of many investors on that day.
An ordinary investor might be tempted to buy Blackberry Stock on the news. After all, Blackberry lost only 0.22 cents per share in the current quarter compared to the loss of 0.71 cents in the previous quarter. And the Stock was indeed up 1 percent after earnings.
Looking farther back, Blackberry was down about 20% over last one year whereas S&P500 was up about 10%. BBRY was lagging the broad market, and one could think that the time has come for Blackberry to turn the corner and start going up after the earnings.
Like many other investors, I am aware of such earnigns news (I use Metastock Xenith/Thomson Reuters EIKON for news), and I am also cognizant of the earnings results/earnings surprise etc. However, unlike many other investors, I rely on CUE Charts to make my final trading decision. In fact, all Superior Profit Traders do the same every day. Let me explain how I took this very profitable trade.
Below is the CUE At A Glance view of BBRY after earnings showing how the trade was entered and how profit was booked. This snapshot of BBRY was taken during intraday on 22nd Dec as the Short Vertical Trade was partially exited with a profit.
As can be seen from the chart above, after earnings, BBRY tired to go up on 20th Dec. However, it had clear Memory Resistance above. That Memory Resistance proved strong enough, and the Stock reversed from that resistance with Extreme High Activity. This reversal was an opportunity to take a Superior Profit Bounce Short Trade.
What is Bounce Trade Setup? It is a situation where a Stock meets pre-existing Memory Trendline Resistance and then bounces down from there with extreme Activity (volume).
The Bounce Bearish Trade Signal came at the end of 20th Dec 2016. And the Bearish trade was established next day on 21st Dec, soon after USA Market Open, using CUE Fine Tune Real Time chart (not shown here). Below is the Reward/Risk profile of the trade as it was initiated.
At the time of entry, BBRY was just below 7.5$. For my trade, I used the BBRY 20th Jan 2017, 7.5/8 Short Call Vertical; thereby entering a Bearish trade.
This spread had about one month time and I was expecting BBRY to go down enough to let me book a good profit within one month. I used OTM strikes to set up the spread. This credit spread resulted in a positive Theta trade. Resulting in time decay favoring my trade; that is; the position would profit a little bit of money every passing day due to positive Theta.
I established Vertical Spread for a credit of 0.14$. Immediately after entry, I placed a Good Till Cancelled (GTC) order to buy back half of the position at half my credit amount; that is at 0.7$.
Very next day, on 22nd Dec, BBRY fell further, and my GTC order was filled. Resulting in 50% profit (calculated as 0.7$ profit on the original credit of 0.14$).
Today BBRY Closed above the Memory Support line - this can be seen from the CUE Chart snapshot below; taken at the end of 22nd Dec.
This day also had Heavy Activity. However, this is not a Bounce Long Setup. Such a setup would require the Close being above Last Day's Close. Which was not true in this case.
What will happen to BBRY tomorrow? Overall BBRY is Bearish in Weekly Backdrop chart (not shown here) though it has support at Memory Trendline in Daily chart. We don't know for sure what will happen to BBRY next. However, I have already booked partial profit. And will make sure that the rest of the position does not go into a loss. Thereby making it a Risk-Free trade from now on.
This BBRY Vertical Spread Options Trade shows how Superior Profit Traders trade Options. Using CUE Charts to analyze and determine which direction the Stock is more likely to move. And then use an Options strategy that helps take advantage of that potential move.
Once you use CUE Charts, you would also be able to uncover the untold secret of making a profit from Options. The "untold" secret being: "how to determine a Stock's potential move first; before deciding upon an Options Strategy." CUE Charts and the unambiguous rules of Superior Profit Way comes of good use to Options traders; just as is invaluable to a Stock Trader.
Day Trading on E-Mini Future is possible almost 24 hours a day. Almost every day of the week.
CUE Global is a complete system that is used by investors and traders. From Long Term Investment to Swing Trade to Day Trade. All over the world.
Traders use CUE System to trade all sorts of instruments: Stock, ETF, Option, Future, Forex.
On 15th August 2016 I had posted a blog describing in detail one way I use CUE System for Forex Day Trading. You may read that Forex Day Trade blog here.
And just a few days before that; on 11th August 2016; I also posted a blog describing a real life Stock Day Trade using CUE Charts. You may read that Stock Day Trade blog here.
Some readers requested me to post a blog on Day Trading E-Mini Future using CUE System. I am writing this blog to explain that.
CUE System techniques used to Day Trade Stock, Forex, Future, etc. are interchangeable. So all E-Mini Future Day Traders will gain valuable insight from the two blogs mentioned above. Just as Stock and Forex Day Traders will gain valuable insight from this post.
In the Stock and Forex examples, I looked at only the instrument that I was trading. I did not use correlated instruments. Instead, I looked at Longer Timeframe (Daily and; optionally; Weekly) to decide my Trade Direction and used Real Time CUE Chart to execute the Day Trade in that pre-planned direction.
That is not the only approach I use for Day Trading. Sometimes, I look at multiple correlated instruments; using same Real Time Intraday Timeframe, and then choose the one that is likely to give me the Highest Probability of Success or Best Reward Risk Ratio or both.
For E-Mini Day Trade, I often use this correlation approach.
I will use two symbols. One is ES - E-Mini S&P 500 Future. And the other is NQ - E-Mini Nasdaq 100 Future. These two symbols are usually strongly correlated. Moving up and down together on an intraday time frame. But not necessarily with the same force. Some days ES is stronger. And some other days NQ is more powerful. For Day Trading in the Long direction, we chose the stronger of the pair. And for Shorting, we use the weaker of the pair.
Now, what is meant by "strong" and "weak" here? Is it the different percentage moves that we see in Real Time data feed? Obviously, that is one estimate of strength. However, from a Superior Profit Day Trader's perspective, that is not the optimal way to measure force and use it in a trading decision.
What works a lot better is to see the movement of the two symbols within a set of reference price levels or Pivots. The CUE Fine Tune Real Time template is ideal for that.
This CUE Fine Tune template is designed specifically for Day Trading. You can also use it for precision entry of Swing Trading.
Fine Tune template has automatically calculated dynamic pivot levels (horizontal dotted lines) as well as very smart auto-drawn-trendlines; Memory Lines as we call them. These provide the reference price levels to help us decide which symbol is stronger and which one is weaker.
CUE Fine Tune also has the very responsive (and thus; suitable for Day Trading) Stretch Release up/down arrow signal to decide quickly and unambiguously exactly when to enter a "reversal" trade; trade opposite to the immediately prevailing direction.
Let us put all that together in a real life case. This Day Trade opportunity came during regular E-Mini trading hours on 15th August 2016. I will use the 10-minute chart here. However, traders can use 5 Minute or 1 Minute interval too if they choose to do that. Personally, for Day Trading E-Mini Futures, I find 5 or 10 Minute interval provides the balance between being on the trade early. So I can capture a significant chunk of the move. But not too soon that I get whipsawed often.
Here are the charts of ES and NQ - side by side - using CUE Fine Tune template using 10 Minute interval.
The numbers below refers to the respective markings on the chart:
(1) I first assess which one of ES and NQ was stronger at Close on the day before. That is, at Close (4 PM EST) of the day on 14th Aug. ES had Closed somewhat below Day's High whereas NQ had Closed almost at Day's High. So, at Close, using the Day's High and Day's Close as reference levels, NQ was stronger on 14th Aug.
(2) Next day, on 15th August, both ES and NQ opened with Gap Up.
(3) Both ES and NQ went above Early Range High and became Overbought at that level; as indicated by Stretch signal (cyan and green dots on top of the Candle).
(4) Neither instrument could continue the rally from the Overbought Stretch condition. Instead, both became weak as seen by Stretch Release signal (down arrow on top of the Candle). Both symbols displayed three Stretch Release indicator three times before they fell.
Both symbols looked similar at this point on the chart. However, there were signs that ES was weaker than NQ. For example, ES had a Candle Flow color turning Bearish magenta before NQ. Also, on the third Stretch Release Candle, ES crossed below Early Range High. However, NQ remained above Early Range High pivot level.
Using the above analysis, I concluded that ES was weaker than NQ. Both at 14th Aug Close and also after 15th Aug Open.
And therefore decided that for a Short trade, ES would be a preferred candidate.
I will now explain the Short trade execution using the ES chart below using 10 Minute Interval and CUE Fine Tune template.
The numbers below refers to the respective markings on the chart:
(1) I took the Short trade on the third Stretch Release sign. ES crossed below Early Range High at the same time. And Candle Flow color turned Bearish magenta. These three signs together made the Short entry a High Probability Trade.
(2) I placed Stop Order immediately upon entering the trade at just above Day's High. This was a small risk amount relative to ES's usual daily move range. This Stop Level was never violated.
(3) After my entry, ES fell. And the trade Profit soon surpassed the Risk taken. I closed half position at this point.
(4) Immediately after booking partial profit, I moved Stop to Breakeven level. That is, to the Entry Price Level. Breakeven Stop was never hit.
(5) At day's Close (4 PM EST), I closed the remaining position.
Following are the salient points of this disciplined and profitable Day Trade using E-Mini Future.
A) I selected ES over NQ for a Short trade by observing the symbols' move within CUE Fine Tune pivot levels.
B) I patiently waited for both NQ and ES to turn Bearish. And executed the trade without hesitation when multiple signals were aligned.
C) I placed the Stop Order immediately upon trade entry to manage risk.
D) I booked partial profit as soon as Risk amount was covered; making it a Risk-Free Trade from then onward.
E) I closed the entire trade at the end of the day. I had planned it as a Day Trade. And closed it as a Day Trade.
This Day Trade was taken on E-Mini Future. However, the same technique of choosing one particular instrument from multiple correlated instruemnts for Day Trading by usign reference pivot levels of CUE Fine Tune template can be applied to other trading instruments like Stocks in similar industry, to Forex pairs etc.
For learning more detail of the pivot levels, Stretch Release, Candle Flow, etc. - which are part of CUE Global System, you may refer to the training material at Superior Profit Education Center.
And also feel free to register for our Live Class held on a regular basis. Where you will meet other traders from around the world discussing Market and potential trade set-ups.
Superior Profit Investors join every week on Saturday for a Live Class where we discuss previous week's market and look for trading opportunities for next week.
We had our last class on 13th Aug, Saturday.
One of our traders from Australia was keen on Day Trading Forex using Real-Time Charts. We pulled out some Live Charts and discussed some ways of how to profitably trade Forex using CUE. Here is a summary of that for those who could not join us in Live Class.
Forex is one of the slowest moving instruments in the Market. The perceived high profit (or loss) in a short time comes from higher leverage. That tends to attract many traders to Forex with the hope of making a significant profit starting with a small capital. As our trader friend told in the class: "Profit is easy to come and easy to go in Forex."
Well, in reality, for most (if not all !) beginning Forex traders with small capital and lack of system and discipline, profit is more "easy to go" and "difficult to come".
I encourage new traders first to prove to themselves that they can make a profit in less leveraged instruments. Like, using Stock. Or may be using defined risk Options. Once a beginning trader can get consistent profit in less leveraged instruments, she may move on to high leveraged instruments. Be it Forex. Or Future.
The reason for this advice is to establish the technical aspect of trading firmly in trader's brain. So much so that in front of the live market the trader does not think. Traders' response to market moves become automatic. Like walking on the street. Once that happens, the trader is ready to take on higher leveraged instruments. It is like learning to drive slowly first. Without making an accident. Or at least one that is not fatal. And then only - if one wishes so - to move to higher speed cars.
Besides, the greater leverage of Forex (and Future) and the fact that these Markets are open 24 hours, make lifestyle and psychological aspect of handling them more difficult.
With that note, let us look at some ways a Superior Profit Trader takes Day Trade on Forex. This illustration is right from our last Live Class.
Below is a CUE At A Glance view of AUDUSD (the pair selected by our Australia trader in the Live Class).
The Memory Resistance lines in Weekly and Daily were already there long before the Candles came and hit them from below. And we knew beforehand that the Memory Resistance was around the level 0.77300 approximately. They were already there before the price comes to them. And we could plan our trade at that price level.
The Memory liens have zero lag. This zero lag nature is a significant advantage of the Memory line in Day Trading. Compare this to most other traditional indicators that have lag and hence tend to be ineffective in Day Trading.
In Superior Profit Way, we use several Zero Lag indicators for Day Trading. Memory Line is one. Others include Watermark on Daily Chart, and Daily Range, Early Range, Power Range on Intraday Real Time Chart.
Also, we use Stretch Release on Real Time Chart for Day Trading. This CUE indicator is very responsive; has tiny lag. Making it suitable for Day Trading.
In the At A Glance chart, we saw that the Memory Resistance Levels in Weekly and Daily charts were same. And that gave us additional confidence to look for Low-Risk Short Trade on AUDUSD at the Memory line price level.
To execute our trade, we drew a horizontal line at the Resistance price level of 0.77300 on Real Time Chart using 10 Minute intervals (we could use 5 minute or other Real Time interval as well) and waited patiently for the price to come up to this level and then tilt down; showing that Memory Resistance was working. And then take our Low-Risk Short Trade.
Below is the 10 Minute chart on AUDUSD with the Resistance level drawn on it. Following the marked comments numbered 1 to 7, we can see how we confidently Shorted AUDUSD as a Day Trade at the pre-planned price level and booked profit.
In the above Real Time chart, we did not use powerful CUE Stretch Release indicator. Neither did we use our Candle painters; Traffic Light or Flow coloring.
Let us look at another Day Trade opportunity the same AUDUSD presented a shortly after we booked profit in the last illustrated Short trade.
Below is AUDUSD chart on next day using CUE Fine Tune Template. Now we have Flow Candle coloring on the chart. And we also have Stretch and Stretch Release indicators drawn on the Candles.
Following the notes numbered 1 to 6 we can see how; again; we entered and exited a Short Day Trade on AUDUSD profitably.
Let us make some noteworthy comments based on the way the two Superior Profit Date Trades were executed. They apply to all Superior Profit Trades we take. And need to be emphasized even more strongly for higher leverage instruments like Forex and Future etc.
1) Having a prior idea of Trade Direction is necessary. In both the examples, we used Memory Resistance to decide our Short Trade Direction.
2) We wait patiently for Price to give us the signal that Resistance is holding before triggering the trade. In the first example, we waited for Price to come back below Resistance Price Level. In the second case, we waited for Stretch Release arrows to appear.
3) We pre-define the Stop Level. And put a Hard Stop Order as soon as our Short Entry fills. In both our Short Day Trades, AUDUSD did not trigger the Stops.
4) We pre-define our Initial Profit Target and put Profit Taking Limit Order at that level. We book profit without being greedy. At least on half position size. And move our Stop on remaining position to make sure it is a Risk-Free trade from then onwards.
5) We don't overtrade. Once we complete our planned Day Trade, we stop.
These were just two examples of how Superior Profit Traders take profitable Day Trade on Forex every day.
Once you study the CUE System using the detail training material at Superior Profit Education Center, you will learn several additional ways to pre-plan and execute Day Trades confidently.
And you can take the Day Trades on Forex, Future, Stock or any other instrument that fits your risk tolerance and lifestyle.
Citizen of Main Street.