We have a webinar coming up next week with the title "Kill It Or Keep It? Drastically Reduce Losing Daytrades".
The idea is to focus on trade management right after you put on a day trade. For me, those first few minutes, where I'm trying to get to my first target, are instrumental in terms of trading profitably overall. The way I trade, I want to make a decision early on to cut the trade or keep it.
In the webinar, we will put on random trades and then look at order flow/related markets/market internals to decide if the trade is a keeper or not. Now, I'm not sure about you, but I don't generally put on trades at random. Yesterday I decided to have a few practice runs to make sure the webinar will flow smoothly and not confuse people. It's always tricky to keep up with a market but at the same time not talk through it so fast that you lose everybody.
At the same time we were having a "how do you use it" discussion in the Jigsaw Skype room and so for those guys and my own practice, I decided to put a short 5 minute 'random trade' video on to explain some of the things I look at. As usual, switch to full screen mode, full HD to get the most from the video.
http://www.youtube.com/watch?v=1EQLnmclfI4
Of course, each trade will be different as different things are going. The webinar will be held on the 17th October, 2013 at 9:30 AM EDT. If you'd like to join the webinar, click here: http://onlinetradercentral.com/presenter_ADE6WT.asp