Lessons from the live room: why we crushed it on Wednesday

Wednesday’s trading in the live trading room is shown below.

It’s not the completed trades that were key to the winning day, but rather, the trades we didn’t make…

As usual, morning prep provided the blueprint for the day’s trading. So after two failed short trades, we weren’t tempted to flip our view and initiate longs. Instead, we benefited from taking the other side of all those sellers who did flip their view; not once, but on two short trade sequences.


Lessons from the live room: why was yesterday such a great trading day?

In the live trading room yesterday, finally we were beneficiaries of a market trading back on itself after recent “new territory” prices.

The auction was now trading at prices that had been repeatedly traded the previous three sessions. We knew where participants were agreeing and disagreeing on doing business, data that we build our best trading days from.


Lessons from the live room: defining a trend using agreement

With the recent large trend days in the AUD, I thought I’d share how we were monitoring trends in the live trading room
to determine if the trend was still progressing, or indeed, coming to an end.

Lessons from the live room: today’s trades

Due to time zone differences, a number of attendees in the live room were unable to stay to witness morning prep (wanting to get long up to 0.7407) come to fruition. So here is a recap of how the day played out if you missed it. The chart below shows all of the trades taken during the Asian session.

Click on image to enlarge

You’ll notice it took three attempts before we finally got set.
You’ll also notice how the long trade was broken into two portions. This was based on “fuel consumption” plus auction participants unwilling to take prices higher, at that specific moment in time, hence the initial profit take.
When conditions changed the re-entry was taken, to make the most of the “long liquid lunch” phenomenon as discussed in prep.

Lessons from the live room: why traders attempt to pick tops and bottoms

click on the image to enlarge
Take any chart and ask yourself “where were the best areas to enter long and/or short?” and inevitably you’ll identify the turning points in the market because after all, they were the areas that offered the most reward.

It’s human nature...


Lessons from the live room - trades based on webinar presentation

Every trade example covered in the webinar played out during the real-time live session that followed, as per the chart below.

Click on the image to enlarge

You’ll notice the “bread and butter” trade features heavily, as does prep, and tight risk management. All profits were as a result of urgent exiting traders...