Hey Trader,
Finding Comfort and Confidence in Your Trading Journey
As you continue to navigate the challenges and opportunities in the trading world, I wanted to share a verse that offers profound comfort and encouragement:
"I, even I, am he who comforts you. Who are you that you fear mere mortals, human beings who are but grass."
Isaiah 51:12
In the fast-paced and often high-pressure environment of trading, it's easy to become overwhelmed by the opinions and actions of others. This verse reminds us that true comfort and strength come from a higher source. When we focus on this divine support, the fears and anxieties instigated by others diminish in importance.
Let this verse inspire you to approach your trading journey with a sense of calm and confidence. Remember that you have a source of comfort and strength that surpasses any human concern. With this assurance, you can navigate the markets with greater peace and determination. Wishing you comfort, confidence, and success in your trading!
Be Relentless In Pursuit Of The Will
Which God Has Set Upon Your Heart,
Anthony Speciale
Daily LIVE Futures Analysis Room Recap + My Personal Trades: 7/30/24
Anthony here from Speciale Analysis. I hope you're having a phenomenal day.
Today, I want to share with you a detailed breakdown of a trade I took this morning.
This trade was executed quite early, and I'm very pleased with how it turned out.
Given the time constraints, this will likely be my only trade for the day as I have other commitments this afternoon.
Setting the Scene
This morning, as I was setting up for the trading day, I noticed a promising opportunity in the market. Before I even got to my cup of coffee, the setup was there, plain as day, checking all the boxes for me.
For those who follow my trading journey, you know that if I can lock in profits early in the morning and be done for the day, that's a win in my book. If the trade works, great.
If it doesn't, it's okay – there’s always the next one. Fortunately, today's trade worked out well.
The Trade Breakdown
Let's dive into the specifics of the trade. We are looking at a 5-minute chart of light sweet crude oil, September 2024 expiration.
On this charts below, you can see how the price action unfolded.
The Setup
This morning, I identified a significant high followed by a lower high. At 6:50 AM, I felt confident that as long as we didn't close back above the 6:05 AM candle, we had a good chance to not only retest the prior low but possibly push through the session lows.
I didn’t get too aggressive given the early hour but decided to seize the opportunity.
Execution
Here’s a detailed breakdown of the trade execution:
Entry Point: Short at $75.72.
First Cover: Covered 10 contracts at $75.62, securing a quick 10-tick profit, locking in $1,000.
Second Cover: Covered 5 more contracts at $75.50, adding another $1,100 to the profit.
Final Cover: Covered the remaining 5 contracts at $75.40, resulting in an additional $1,600 profit.
GAIN: $3,700.00 - FEES
Why This Trade Worked
Markets move based on the aggressive intentions of participants – whether they are banks, hedge funds, retail traders like us, or professional traders.
By identifying the evidence left behind by other market participants , I was able to make informed decisions.
In this case, aggressive sellers stepped in where I anticipated, leading to a significant sell-off.
Following my trade plan, I managed to secure a profit early in the day, allowing me to step away from the market with confidence.
The Bigger Picture
Trading isn’t about predicting the future; it’s about responding to what the market is doing in real-time.
Yesterday, I took a full stop-out but then went on to make a tremendous trade.
This is the nature of trading – the market isn’t driven by algorithms or programs, but rather by the actions and intentions of its participants.
Why I Share My Journey
I’ve been trading for over 13 years now. I started this journey to create a meaningful impact, not just for myself, but to help and serve others.
Teaching and sharing my knowledge is my way of giving back to those pursuing the same.
I believe more people are capable of achieving success in trading if they are willing to put in the time, energy, and effort.
Nasdaq 100 Falls 1500+ Ticks
From My Session Closing Statements
I provide comprehensive analysis across all corners of the market, which you can use to enhance your own trading.
Whether you’re just starting out, have been at it for a while, or are looking to accelerate your career, my goal is to help you shorten your learning curve and achieve your trading goals.
Trading can be a rewarding career once you have the right knowledge and tools.
By understanding the dynamics of volume and price action, you can make more informed and strategic trading decisions.
I hope this breakdown of my trade provides you with valuable insights and encourages you to continue learning and growing as a trader.
Stay informed, stay focused and stay disciplined ! ! !
Thank you for reading, and I look forward to seeing you in our next session . . .
God bless, and have a wonderful day!
If you have any questions or need further guidance, please don't hesitate . . . info@specialeanalysis.com May the markets be ever in your favor!
Happy Trading,
Speciale Analysis
About the Author:
Anthony Speciale is a seasoned market analyst with over 13 years of experience trading. Through his platform, Speciale Analysis, he offers in-depth market analysis, interpretation, and expectations designed to help all types of traders, at every skill levels reach their full potential.
Analysis, Interpretation & Expectations
Day, Swing & Position Trade Analysis
Daily LIVE Market & Orderflow Analysis
NOTE: Trading involves significant risk, and it's essential to approach it with a well-defined strategy and a disciplined mindset. This blog post is intended for educational purposes and should not be considered financial advice. Always conduct your own research and consult with a professional before making an financial decisions. For further risk related information, please refer to: www.specialeanalysis.com/disclaimer
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