Right after market open today the oil futures showed us that it deserved some attention.  We had 4 consecutive setups; all winners for a gross profit potential of around $410 per contract.

At our last 2011 Trading Mastery Boot Camp, we spent 2 days driving home this lesson:

Focus on the right market, with the right setup, at the right time.  Everything else is noise!  

And when the market is respecting our areas and hitting our targets, then confidently execute setups.  When it’s just chopping around or not giving clear signals, then sit on the sidelines.

Last week was a little slow because of MLK holiday, but I can already see the momentum starting to build in the markets today.  And even though a lot of people are pessimistic about the markets, my latest forecast videos have only been anticipating more upside.  And the S&P emini has continued to climb higher over the past 5 trading days.

Tags: emini, oil futures

This entry was posted on Monday, January 23rd, 2012 at 4:33 pm and is filed under Psychology, Trade Signals. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE.  THE RISK OF LOSS IN TRADING FUTURES CONTRACTS OR COMMODITY OPTIONS CAN BE SUBSTANTIAL, AND THEREFORE INVESTORS SHOULD UNDERSTAND THE RISKS INVOLVED IN TAKING LEVERAGED POSITIONS AND MUST ASSUME RESPONSIBILITY FOR THE RISKS ASSOCIATED WITH SUCH INVESTMENTS AND FOR THEIR RESULTS. PLEASE READ OUR FULL DISCLAIMER HERE.