Trade What You See, Not What You Think

Hi , I'm so excited to be taking the first steps of this journey with you. During this period of whatever we call what's going on right now, it's great to be building a community of traders that we can rally around. It's not just about making money, although of course, we want to do that too. It's about being together, caring for each other, and helping one another through extraordinary circumstances like we find ourselves in now, as well as the more normal life we will hopefully return to in a month or two. Because I don't know about all of you, but I am not good at homeschooling! I don't know how many fellow moms and dads are out there who have suddenly gained a huge new appreciation for their kiddos' teachers, but you can count me among them! And I already appreciated them so much! But this is HARD! It makes looking at the charts seem easy and relaxing by comparison. Speaking of which, let me show you something I saw in the charts recently…

(Forgive me for the pink, my daughter was playing with the tablet, obviously!) So what we're looking at is a pattern that I love. I call it a "moving average pinch." It's where we get stuck between, in this case, a ten exponential (on the bottom) and a twenty exponential (on the top) moving average. When that happens, especially in really low volume, it means you're kind of in this waiting period. Typically what's going to happen is you're going to have some kind of a breakout. And while it's in this position, you don't have to do a whole lot while things are kind of slow. Instead, I wait for a breakdown (bottom arrow) or a rally (top arrow) and that will set up either my bearish or bullish position, respectively. This chart is a few days old, taken from a screen capture when I was looking at it instead of pulling my hair out…(Love you, kids!) But you can identify the pattern and look for the same things on your own charts! Remember! Let the chart tell you what to do. Trade what you SEE, not what you THINK! You want to be patient until your pattern sets up, and then you want to trade when you actually have the signal. Patience is key! In fact, just as a word of encouragement, I got an email from one of my students, a brand new trader who was waiting four days monitoring a pattern on Apple. She finally placed the trade when the signal fired, and she held it for just one day (she's new so she didn't want to hold it overnight. That's okay!) Apple moved from $242 down to $240 for her. She didn't tell me how many contracts she had, but if she had let's say 10, that would be easily a $1,500 profit! Super cool!! And now a fun story for you: I was praying with my daughter the other night when she prayed that I would be able to make a lot of money with very little work! She's only six, but she sees that balance of success and effort that we're all trying to arrive at as traders. These kids are sponges! It's incredible how fast they can learn. Unless I'm homeschooling them! Anyway, I couldn't wait to tell my favorite trader/motormouth Rob Booker about that! By the way, Rob has a trade call he's really excited about going out this weekend, and he asked me to tell you guys. I guess I can help him out, since we did put on those really awesome events last weekend! Click here to learn more about that. Okay then! Those are some thoughts from me! Thank you so much for reading! I hope you have a GREAT day, and I can't wait to keep working with all of you and using charts to make a lot of money without a lot of effort. Chat with all of you soon!, Markay

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