Look Who it Was Random video

Discipline to wait for the best patterns earns profit day trading crude oil and gold futures

320 views · Published 14 February 2011 · 9:02 · Indexed 1 November 2026

Channel: Joseph James Trading With JJ · 2011 · Education

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http://www.sidewaysmarkets.com/2011/02/discipline-to-wait-for-best-patterns.html

It seems that all the 'love-birds' decided to sleep in this morning because we saw a VERY slow day in the markets we trade most.

With no news on a Monday morning, and with lots of concerns later this week (OPEX and Holiday Weekend) we knew to be careful this morning, and our assumption was correct.

We waited patiently from volume to enter the market today, and our discipline to wait for the best patterns really helped us achieve our profit goals today.

We began selling the highs on crude oil, and trading wave patterns on gold futures.

We earned over 190 ticks of profit, but could have EASILY earned over 250 ticks if the volume would have been a little stronger.

Today was a great opportunity to learn how to trade a day like this...slow and sloppy.  We aren't going to have easy days every day, and today was an excellent prep for future difficult days ahead of you.

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