Trade Update

The same chart a few hours later, as I am now short Cable. Patience is something that I continue to practice and strive for. I decided to get in lower then the original participants got in (Iaccino and the traders who were awake) because the shorter term charts were showing the rotation weakening. (Clicking on the chart gives you a clearer view):












This is a Trader Outlook trade and one of the things they look at is the level of the Melody ADX...which is higher then I'd like (53ish.) We are taught that 60 is a good point to look for an exit.

This is the next thing I have to practice and incorporate into my decision-making...as the $67 service is great, but we have to make these decisions most of the time, as the traders (they make all the trades that are recommended) are not always in the chat room.