Hey Guys,
The market is down some this morning. The MES futures have been tethered to the 4,000 price level since the opening bell.
There haven't been any new trades yet today. But the good news: the pipeline of potential trades is definitely filling up. The watch list more than doubled in size since yesterday.
And to my mind, this makes sense and is one of the appealing aspects of the trading approach. My trading strategy is one that requires the underlying stock to exhibit a strong uptrend immediately before I get in. So if most stocks are crashing down (like they did in the second half of February and early March), then I'm glad my strategy limits my exposure. It basically forces us to wait for confirmation that the stock is back in an uptrend. I like that requirement, and I'm ok with patiently waiting to make a trade until that criteria is met. That's basically the linchpin to the back-tested edge.
And now that the market is showing some strength again, now we're seeing the watch list start to fill back up.
The Low-Priced account (which I don't actively trade anymore) might pop out a couple of trade ideas today. You can see those on the Triggered List at the bottom of the page.
If you have any questions or feedback, I'd love to hear from you.