How We Traded This Week's Market

Hey folks! 

I wanted to do a 'STEP-BY-STEP' educational post to explain what I was seeing through out this week's insanely wild market action and how we traded to end up making it a profitable week for AOT members! 

So here goes.... 

So as we all already by now... The market gapped up almost 400 Dow pts on Monday morning after the "successful" G20 meeting between the U.S. and China... 

We came into Monday long MSFT from $110.60 entry since on Friday it formed a very nice "INSIDE DAY" pattern... 

Here's how I normally like to trade INSIDE DAY patterns: Learn to spot these since they can be a very effective pattern to add to your trading arsenal! 

That MSFT chart was begging to BREAKOUT! 

Thus felt very comfortable swinging MSFT into Monday from Friday's entry especially since it literally closed at the highest tick of the day on Friday's close..... 

**** FAST FORWARD TO MONDAY MORNING ****

Come Monday morning, index futures were VERY nicely green and thus feeling very good about the odds of a big gap up on Monday for our MSFT long position....

And it did indeed gap up on Monday... MSFT gapped up over +$2 on Monday's open so we quickly raised stops to ensure at least a GREEN TRADE just in case the market decides to reverse back down...

We raised stops to $111.00. Shortly after the big gap up open, the indices started to fade lower slightly and took out our MSFT for a small gain of +40 cents. 

Sometimes it can be hard to not get frustrated when you see a stock up over +$2 in your favor and then get stopped out for a much smaller gain... but this is trading! Better get used to it and learn to move on methodically to the NEXT trade!  

Green is green and we move on to the next trade! 

While scanning for new setups on Monday afternoon, GRUB caught my attention as it was setting up in a very nice FALLING WEDGE bottoming pattern.... These types of patterns normally breakout nicely higher... 

As much as I liked that GRUB Falling Wedge setup, but since the market made a big multi-day run up ... we went into GRUB with a only a HALF SIZE position size ....  

Trade started to work nicely so felt comfortable swinging it over night especially since the trade was only HALF SIZE and also started to work nicely soon after we entered the long position.... GRUB closed the Monday session about +50 cents higher from our entry... 

****Fast Forward to Tuesday morning****

The next day, the market opened kinda soft and looked suspect on long side.... 

Our GRUB long position opened green and the trade looked promising since it was showing "relative strength" early in the morning since the market was slightly lower yet GRUB was green and trying to breakout from that FALLING WEDGE pattern.... 

Look at the VXX(VIX) chart below... On Tuesday morning, it was actually RED as the overall market was slightly red which normally favors the bulls.... 

Literally two hours later... the VIX EXPLODED higher at first seemingly on NO NEWS... the market collapsed lower and of course took out our GRUB long position with it. We stopped out of that HALF SIZE long position in GRUB for a -3.8% loss. Thankfully it was a smaller position so the loss wasn't too bad. 

When it comes to trading, POSITION SIZE MATTERS!! 

Can't repeat this enough times, POSITION SIZE MATTERS!!  

Tuesday, around mid-day, there was starting to be doubts about the so-called "successful" G20 meeting... Algos wasted NO TIME, like they ALWAYS do, they SELL OFF HARD FIRST and ASK QUESTIONS LATER... this is what algos do. They are programmed to react to news and more often than not, the moves are FAST, BIG and DRAMATIC! 

At this point, we were back to sitting on 100% cash and stalking new entries

MTCH, started to catch my eyes as a very nice SHORT setup so we entered MTCH short on Tuesday mid-day and the trade literally started to work almost immediately.... 

We entered MTCH short at $39.05 and the trade started to work lower immediately .... 

This was setup that was tweeted/emailed to all AOT members ... 

The market closed on its lows on Tuesday(Dow closed down about 800 pts) but the NYMO was just coming off "overbought" territory so i was very confident that today, the market would GAP DOWN at the open and even mentioned it in the private twitter a couple of times. So decided to swing MTCH short into today, fully anticipating the market to gap down and take MTCH lower with it.... 

As you can see below, MTCH did indeed fall nicely at the open as the market(Dow Jones fell about 500 pts) at the open... Brutal nasty gap down open... obviously, exactly what you want to see when you're holding a short position! 

MTCH hit $37.00 on today's open, we shorted at $39.00 so the trade was up a cool +5% since we entered... 

 Read chart notes above to see the STEP-BY-STEP thought process behind the MTCH intra-day action today and on Tuesday! 

***** FAST FORWARD TO TODAY around MID-DAY*****

Market was tanking hard, sentiment was piss-poor and you can almost "feel" the sentiment on twitter... Traders were discouraged as sentiment turned so sour... People losing faith in stocks as legendary hedge fund manager, Leon Cooperman was saying live on CNBC around mid-day... 

At this point, i had closed that MTCH short for a +2.75% gain and turned off my twitter and and was intensely focused on plowing thru my charts(both indices and individual stocks watchlists) to gauge the "market's temperature" under the surface...  

Public twitter was OFF at this time as i didn't want my market views or chart analysis to be "tainted" by anyone or anything... I wanted to observe the action and movement of the charts in an absolute "vacuum" if you will....   

What are my charts doing right now? 

What are these charts trying to do? 

What are they trying to do here?

Wait a minute... closed MTCH short but what's MTCH looking like now?!   I'm just curious! 

Holy mother of god!!! Look at what that MTCH short is doing now!  I'm like, "OK, good call on closing that short, Stewie!"

Like i always like to say, "Short squeezes are like cockroaches, when you see one, there's usually a bunch more around the corner!"

So, I'm thinking, well if stocks like MTCH are starting to gap down and SQUEEZE or REVERSE back higher... what else is doing that?! 

AMZN? check! 

NFLX? check!

AMD? check! 

GOOGL? check! 

etc etc etc .... I'm now seeing the Dow Jones and other indices still dancing around near the day's lows(we're now down almost 700 pts on the Dow Jones and down 1,700 points in two days!!) yet many stocks on my PEG(Power Earnings Gap) list are flat or green?! 

How's that possible?! 

I start plowing thru my charts again... and again... and again... obsessively determined to figure this enigma out!

Meanwhile I'm still answering AOT members' questions via the private twitter! 

Doing 'Chart Requests' and responding to emails that are coming in at a faster pace than usual due to the volatile market! ... most people don't see the "behind the scenes" work that I put in on a DAILY basis! 

but you know what?! I love it, i often feel like it's "my calling" and can't do without it! 

Around 12PM to 12:30PM(mid-day Thursday)

***These next series of charts started to catch my attention*** 

Dow Jones Chart

KRE Daily Chart

What i'm seeing in the ABOVE two charts(KRE and Dow Jones) and actually many other index charts which i didn't post in this post but the basic premise is all the same!! 

MACD and RSI divergences: this is the simple yet SO reliable situation when PRICE does one thing yet the RSI and MACD do the exact opposite! So in this case, indices were tanking to retest the October lows yet the MACD and RSI were well above the October lows and making HIGHER LOWS which creates a "divergence"... so in today's case, that's called a BULLISH or positive RSI and MACD divergence! 

These divergences are what creates TRADING OPPORTUNITIES! Top notch trading opportunities to the traders who know how to spot it and remain cool, calm and collected enough to execute the trades once the signal is there... set the stop loss(es) and let the price action go from there!  

AMD Daily chart

CAT daily chart

CAT intra-day chart and STEP-BY-STEP thought process 

The thought process and execution of these trades went hand-in-hand with my trading system and my trading style and that's what every trader strives to do, day in and day out... 

****The Next morning, Friday****

The market attempted a Follow-Thru rally from Thursday's big reversal.... but that early morning rally was very weak, meager and highly suspect since most of the stocks on my watchlist were RED despite the indices making a bounce attempt(basically exact opposite of the prior day!) 

We raised stops on our AMD and CAT long positions to ensure we at least exit with gains in case the market rolled over again. 

Remember, in this kind of market, you have to be flexible and be ready for ALL outcomes. 

We stopped out AMD at $20.95 (+0.15% gain). 

Quickly raised stops on CAT and stopped out for a +$2.30 gain(+1.80% gain).  

At this point, we are back sitting on 100% cash and on sidelines, stalking new entries as we slowly watched the market's early morning bounce attempt slowly fade to red as sellers once again reasserting their dominance... 

While scanning for new setups around mid-day on Friday, OIH caught my attention as a very nice SHORT SETUP... 

It made a nice gap up at the open on some news out of OPEC but the bounce looked weak and counter-trending in nature. 

Here's what I see in USO right now... a strong, persistent downtrend in this name with buyers nowhere to be seen and usually selling on any sort of bounce... Last few days, USO has tried to bounce but with each "bounce day" looking like a "Distribution day" instead(strong high volume selling).... 

As of of the writing of this post, that OIH short position is +3.25% since our entry and we are actually swinging it into Monday since OIH closed on the day's lows, felt comfortable swinging this position since we built a big enough cushion on the trade(and we lowered the OIH stop loss to $17.40 as we approached the close on Friday). 

We made 6 trades this week: 

MSFT long (Normal size position) : +0.36% gain

GRUB long (Half Size position) : -3.85% loss (or -1.9% of a Normal Size position)

MTCH short (Normal Size position) : +2.75% gain

AMD long (Half Size position) : +0.15% gain

CAT long (Normal Size position) : +1.80% gain

OIH short (Normal Size position) : +4.50% (Update: closed OIH trade on Monday Dec. 12th)

The Dow Jones moved up and/or down 600 to 700 points almost every day this week, therefore a trader's ability to be nimble, flexible and OPEN MINDED is vital in this kind of market. 

Money can be made on LONG side and SHORT side... 

A trader's ability to ADAPT to a rallying or falling market is very important since the moves can be so dramatic in either up or down! 

Some of the feedback i got this week from AOT members was truly humbling. This kind of feedback is the BIGGEST driving force behind AOT! 

Stewie,

I wanted to start by thanking you for your diligence with researching and teaching. It has been immensely helpful with such a crazy market right now; not to mention the knowledge I have gained to apply to my trades when we finally do find a bull market(and I’m still new).  I have been a subscriber to AOT since the start of September, and plan to be a member as long as you are at the helm of the ship! I make sure to save every educational post you write up, and soak up all the information I can on your AOT website. On a given day I will spend anywhere from 1-5 hours charting, reading, and studying various aspects of the market, but consistently your materials are my primary focus.

Near the end of yesterday’s session, I almost bought some AMD Calls to hold through the night, but reminded myself ‘Don't chase, and there will be other opportunities tomorrow’. - This mindset was instilled by you. On to this morning; I still wanted to buy those AMD calls, to not miss out on any profits; LITERALLY THE MOMENT that I went to execute my purchase you posted not to rush today and to let stocks play out. Instead of purchasing call options on AMD, I held off until after your OIH trade alert to go short. I then bought some OIH Put’s and sold them two hours later for 67% profit! (AMD dropped HARD only moments after you suggested holding off, which would have resulted in a loss for me on that one) This is just one example of when I thought a trade seemed like a good idea, then I exercised your methods and profited rather than lost out on the trade I had planned on.

Moral of the story: Instead of going into the weekend angry with my decision to rush and chase AMD, I profited on my only trade of the day and am going into the weekend 100% cash, after a 67% win in today’s trade! I am only in my eighth month of investing/trading and joining AOT is a HUGE game changer. I feel comfortable looking at charts and even feeling the 'vibes' they are giving off. I am looking forward to learning more as time goes on, and felt it necessary to fill you in on how your teachings effect your students.  So thank you for your guidance and wisdom you share, and I am looking forward to future posts you share!!

Have a great weekend and thanks again Coach!

Mike W. 

I hope you found this post helpful and educational! 

Happy trading !!

ArtOfTrading.net 

The "Controlled Selling" Phenomenon

Hey folks! 

It's now been exactly 8 weeks since the market topped out, back in the 3rd week of September... 

The market has been rather tricky to trade lately but it's becoming increasingly clear to me why that's been the case. The markets are usually most volatile and challenging to trade at major turning points as the balance of power slowly shifts from the "old guard" to the "new guard" ..... 

Picture a gigantic cargo tanker ship doing a 180 degree turn in the middle of the ocean....

 

These "major market turning points" takes time and effort to accomplish and along the path, there's going to be a lot of brutal battles ardently fought out between the bulls and bears, each side fighting it out for every twist and turn, support and resistance levels on the charts.... 

but after a little while, you take a step back and look at the chart action, a more clear picture starts to emerge of what's happening.... 

I think we are at major crossroads here and i find this extremely fascinating since it's been over 9 years since the "FED induced" bull market was born in March 2009.... and now the FED seems intent on reversing their course. 

A famous hedge fund legend from the 1980s, Marty Zweig was famous for saying: "follow the fed". 

In my humblest of opinions, I believe we're in the early phases of a bear market here... 

Now, bear markets come in all sorts of shapes and sizes, some are swift and dramatic and some are of the slow motion downwards grinding, "Chinese water torture" types. 

Will this one be another 2008?! I have NO IDEA!... nobody knows! Nobody can tell you with absolute certainty how far down we go? or how long it lasts? 

All this will be known in hindsight once we look back on it! 

Having said that, as traders, we do not care about terminology... The actual terms "bear market" or "bull market" isn't important since we only care about trading price action, up or down... all we want is a trend to trade. In an up-trending market, most of your trades and gains will most likely be focused on the LONG side and in down-trending markets, most of your trades and gains will be focused on the SHORT side. 

**Expect to see more and more AOT trade alerts being made in ETFs(such as that XLE short we made earlier this week for example). 

At any rate, these are just some quick thoughts on the current market conditions I've seen up to now and if proven wrong down the road that this recent big pullback ends up merely being a bull market correction and the bull market resumes down the road, surely the charts will lead us down that path and we'll shuffle our feet to readjust! 

Trade the charts, not opinions! 

So the main purpose behind this weekend post was to discuss how come despite the big pullback in the last week or two, why is it that the NYMO(NYSE McClellan Oscillator) is nowhere near oversold?!  The Dow Jones fell almost 1,200 points this week, the Nasdaq fell almost 4.5%!! 

So how is it that the NYMO and NAMO are still stuck in "neutral" and not closer to "oversold levels"?! 

Now, that's a GREAT QUESTION! Does the NYMO work in bearish markets?! 

The answer is YES!!    NYMO does work and works well actually! 

However, since the tape has turned decisively more bearish, we need to look at the NYMO(or NAMO) in a slightly different angle. 

As far as I'm concerned, the more meaningful signals we're going to get from the the McClellan Oscillators isn't necessarily from looking for "oversold" readings to go long, like we did during the last 8 to 9 year bull market..... in bearish tapes, the more meaningful signals will most likely come when the NYMO overshoots into "over-bought" territory and hence start looking to increase SHORT positions. That's when this tool is going to become quite useful. Just like what we saw in late November during that very strong market bounce and the NYMO went into "extreme overbought" territory and we started to look for short positions accordingly.

 

As you can clearly see in the above NYMO/NAMO charts, the market has pulled back quite aggressively ever since early November as the bears reasserted their dominance since that "extreme over-bought" signal. 

Now, that doesn't mean that we're not going to get some useful signals when the NYMO get into "oversold" but since the tape has turned decisively bearish, the better signals will have to come on the rare occasions when the NYMO and NAMO get into "extreme oversold" and then start looking for hints of a snap back bounce(short squeeze rally).... 

The NYMO might not get into extreme oversold often, even though, the market can and and has gone down big for multiple days in a row. 

A great example of this phenomenon took place this week actually!! The markets took a BIG hit this week, Dow Jones fell about 1200 points, Nasdaq fell almost 4.5% yet the NYMO and NAMO remained in neutral and barely budged?! Weird huh?

This happens for TWO reasons, in my humble opinion... 

1: This bearish trend is taking place via ROTATION. So basically the exact opposite of the phenomena we witnessed that kept the bull market going strong for 9 years, sector ROTATION! So for example, Energy sector tanks yet the Semis bounce. The Financials take a hit one day while Retail sector rallies.... it is this type of action that makes the market go down without affecting the NYMO much. The NYMO will usually make a material move one way or the other when we start seeing BROAD BASED moves in one direction but obviously when the selloffs are happening in a ROTATIONAL manner, the broad based aren't taking place... it is this very phenomenon that kept the bull market running, STRAIGHT UP for many years and that's what's made the market so impossible to short in any consistent manner in the last few years! 

We are now witnessing ROTATION type selling, organized, controlled selling(distribution basically) without seeing much panic in terms of big mega spikes in the VIX(fear gauge).... it is this type of "controlled selling" that makes me think that we are for a prolonged pullback in the stock markets.  

2: And this second point, just comes from years and years of watching the tape and seeing multiple bull and bear markets through out the years... I have been telling AOT members in the private twitter that "in strong downtrends, the bulls control the open but the bears control the close" .... and this week was a perfect illustration of this! 

Notice in the above chart, the 5 day, intra-day charts of the SPY... notice how the market does NOT go straight DOWN.... (if it did go STRAIGHT DOWN, that's when the NYMO is most likely to get into "oversold" territory)... instead what we see is the market makes early morning or mid-day bounces, the market makes these almost pathetic attempts at rallies/bounces, usually at the open via a big gap up or early morning bounces but most of the time, these weak bounces end up dumping hard into the close..... these weak bounces in downtrends, only help to relieve oversold conditions from the previous bout of selling which only helps the bears sink their teeth in deeper just a little more each time... 

It is these weak bounces that allows for the "controlled selling" to take place... these bounces will often make traders believe that the market is bottoming which sucks in longs only to pull the rug from underneath them and leaves them sitting on failed long positions. 

All that small these small intra-day bounces end up doing is help relieve "oversold" conditions just enough from the previous bout of selling before stock prices roll over to the downside again... it is literally the EXACT OPPOSITE of what we witnessed during the +9 year mega bull market. We are now seeing this happen on downside. If you literally flip your charts upside down, it will be as clear as day light! 

This "controlled selling" phenomenon was present during the 2007 market top and thru out the 2008 vicious bear market as well... the NYMO only got into "extreme oversold" only 2 or 3 times in 2008!! 

Important to emphasize, that this does NOT mean we're in for another 2008!! I'm not claiming this at all! But we appear to be in some sort of a deeper and/or perhaps even longer stock market correction phase than we've come to get used to in recent years. Trading opportunities, on long side and short side will be abundant and many opportunities will be created for traders and investors of all sorts in due time!   

I hope you found this post helpful! 

Happy trading! 

AAPL Trade: Step-by-Step !!

Hey folks !!

Earlier this week, we made a SWEET trade in AAPL and today i wanted to go over HOW and WHY we traded this one... 

So here goes.... 

Ok, so first of all, AAPL made an amazing BIG run up recently but it did get way too hot and needed a pullback... so kept telling AOT members to be patient because we will get a good trade in AAPL sooner or later and the time has come this week in the form on a "HOLY GRAIL" setup !! 

A 'Holy Grail" setup is basically: a setup where a stock that's in a VERY strong trend, in AAPL's case, an UP-TREND, pulls back, tests and holds the 20 day MA.... In my experience, it's best to buy the 1st and/or 2nd TEST of the 20 day MA in a strongly trending stock.... 

Long time AOT members know I've been sharing the the "HOLY GRAIL" setup for YEARS and it's definitely one of my favorite setups! 

When AAPL first tested the 20 day MA... AAPL was already down 4-5 days in a row, which made this pullback INCREDIBLY appealing for a risk/reward point of view and couple that with the fact that i was expecting the market to bounce this week(as i tweeted numerous times and i'll do a separate post on why i expected the market to bounce this week) .... 

This is what AAPL chart(daily chart) looked like when it caught my eyes ..... 

So the first you should notice about the AAPL chart above is the fact that this a stock in a VERY strong uptrend and just pulled back 4-5 days in a row and TESTING the 20 day MA.... Now, once i saw that, i then quickly zoom into the 5 minutes charts and, like a good mechanic, you wanna look "under the hood" .... I'm now looking for "hints" this stock is looking to "bottom" or reverse so i can establish a long position...

Here's the 5 minute chart and what i was thinking thru-out the day while watching this stock: 

Please take your time and really study the chart action as well as the commentary on the chart.... 

We kept raising/trailing the AAPL stop loss every +$1 increment(for example, once AAPL broke thru $219, raised stop to $218... once it broke thru $220, we raised stops to $219 etc etc), reason why i wanted to trial the stop loss so tightly as it kept ramping higher the next day is because AAPL had a product event the next day and didn't want to be holding the shares thru such a thing it could be a volatile hold.... 

Ended up stopping out of at AAPL at $223.00  for a +$5.55 gain in 2 days!!  

Fast forward 2-3 days later and here's what AAPL is looking like now... 

I hope you found this helpful!! 

Happy Trading !!

ArtofTrading.net

 

3 AOT Members Share Their Progress!

Hey folks!

I got these 3 emails from 3 different AOT members recently and I wanted to share their progress with you thus far!! 

So if you've been struggling lately or going thru a frustrating phase or perhaps feeling like you're hitting a "plateau" in your trading career right now.... Please read these 3 letters below!

If they can do it, YOU can do it too! 

No excuses! 

So here you go!! 

Hi stewie,

I've been a Member for around 6 weeks.  I was fed up with taking entries on break outs, following sensible and recognized criteria, then watching the price turn around in the chop and getting stopped out.  So I was particularly looking tor a service that would help teach me swing trading, rather than longer term trend following, to be able to make money in all markets, even choppy markets such as we've experienced over the last few months.  Boy, has Stewie met my expectations and more!

Separating the trading results from the education, the results have been very good - high probability trades with smaller draw-downs on the losers.  I would have made very good money but have been taking modest positions while I build my trust in the service.  Given the great return on risk that I've seen I'm now ready to move up my position size to what I regards as full positions (I'm a cautious chap!).

Turning to the learning, that has been no less impressive.  Stewie seems to be on a mission to share all he knows and educate his Members in all aspects of his craft.  What I especially like is how uses the actual trades along with subject specific emails to get his message across.   I love how simple and straightforward he keeps his teaching.

Since I started trading (rather than investing) last year I've read and heard countless times from greatly respected traders about how essential it is to be patient and wait for the high probability trade in the right market.  I have nodded sagely to myself and then gone on to snatch at whatever has taken my fancy!   However watching how Stewie makes such good money while making fewer trades, waiting not only for the right trade but for the right trade against a backdrop of a favourable market, has hopefully brought home to me the Jesse Livermore statement that:

“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this:  It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

If this takes hold in my trading then everything else I learn from Stewie will be a bonus!

Thanks for all you do and your generosity in sharing what you know.

Jim

Hi Stew,

Hope all is well! My apologies in advance for this lengthy email! Pls read when you find time.

I wanted to take a moment and thank/update you for all the fantastic trades this month. In spite of the chop, staying patient and taking the best setups has helped me tremendously this month. 

In a nutshell, I'm up $5,000 this month in profits. I cashed out 3K out of this account after taking this snapshot below. This is the highest payout I've received from the market ever and am very grateful I'm having a good month.

Over the past 4 months, I was literally in a CHOP in terms of performance. Had some great trades here and there, but losing in commissions overall and no real gains overall. Kept giving them gains back. There were 2 main reasons. 

1) I was taking WAY TOO many day trades (not per plan/no setup/getting stopped or wiggled out of positions).

2) Expecting a huge % win in a short period of time, and holding trades longer than needed. 

Risk was defined, so I didnt blow any accounts, but definitely didnt make any money net.

I have learnt a TON over the past few months from AoT compared to what I've learnt in past 6  years of trading struggle. To put this to use finally without giving up, I added some trial capital into Robinhood to execute my options trades. No commissions and max 3 day trades in 5 days helps my case. 

My equity curve looks like this since I started trading here on August 1st. Initial capital: 2,000 (trial). Today its at $7000 (I have withdrawn $1500 over the past 7 days as I was seeing gains, $1500 after this snapshot). So account is literally up 250% (dont mind the % in snapshot, its basically a bug). This is not the usual for me and I don't want to get greedy, so I did take cash out to keep myself humble.

I played all of AoT recommendations as well as small positions in many charts that you posted but didnt play (GOOGL, PYPL, NFLX etc.). 85% of these were 2-3 day swing trades. Robinhood has made it difficult for me to journal since it has to be manually, but I'll show you the journal based performance stats once I have it ready!

Things I will do moving forward:

1) No setup = No trade

2) No revenge, chase or overtrading

3) Reduce expectations - more singles than home runs ( i see home runs will come with some of your best setups automatically!)

4) No need to grow account to actually make money from the market

5) Reduce day trades as much as possible since I cant monitor the markets (this is NOT my time frame)

5) Stay humble, keep greed in check and rinse-repeat 1-6

A HUGEEEE THANK YOU to you for getting me back on the right track. You are an fantastic trader, excellent mentor, great entertainer (cooking + soccer + trading + handling the trolls lol) and more importantly, a good trading buddy :). 

Will keep you posted.

N.C. 

Hi Stewie,

Just wanted to give you a quick update on my progress now that I’ve completed 3 months at AOT.

First, want to share the reason why I’m doing this: 

This is my granddaughter Alanna(not going to share Amy's picture of her granddaughter of course!). She’s almost 3. I lost my job in April and have been agonizing over whether or not to take another time consuming, travel-intensive job. I’ve made the decision to spend these next couple of years with her instead with trading for income. I’m excited and a bit terrified but my gut tells me that this is the right decision.

So, onto the progress! What I’m most happy about is that I’ve increased my trading skills, pattern recognition, and discipline. I still make some stupid mistakes but they are getting fewer and with less disastrous results.

I don’t keep track of percentage wins because I’m trying not to focus on P/L but rather focus on the skills learned. The money will come as a result of good, consistent trading. For the past three months, I’ve been able to wire cash out to my bank account an average of $3500 each month. Still not where I want to be but I know that will come if I execute the trades correctly and gradually increase my risk as I gain confidence.

I can’t thank you enough. Your guidance has not only helped me improve my performance but more importantly, it’s given me the gift of time with my granddaughter. That is incredibly precious and I humbly thank you.

You rock! If you’re ever on the East Coast, I owe you a huge hug!!

Amy 

Hope these 3 letters have fired you up and motivated!!! 

Happy Trading!! 

ArtOfTrading.net