Greetings,
God's Glory Revealed in the Skies
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Be Relentless In Pursuit Of The Will
Which God Has Set Upon Your Heart,
Anthony Speciale
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When the "Chop Chop" is REAL, You MUST Control Yourself!
Today, I’m breaking down our live trading session, where we navigated the challenges of the broad market conditions.
Monday mornings can often set the tone for the week, and while today’s market was choppy, there were valuable lessons and insights to take away.
Broad Market Overview: A Choppy Start
As we opened the session, the broad markets – especially the Nasdaq, S&P, and Gold – were particularly choppy.
Price action was far from clean, making it tough to establish a clear direction for most of the morning.
However, Crude Oil emerged as the star, putting together a push that eventually took prices above $77.
This provided us with the only real momentum throughout the session.
Before we get into the details, it’s important to highlight that choppy markets like today can be tricky.
It’s easy to overtrade when there’s a lack of clear direction.
However, when we stick to our game plan and remain disciplined, we can still manage to come out ahead even in challenging conditions.
The Crude Oil Trade: Capturing the Move to $77
Early in the session, Crude Oil presented a choppy environment, with prices fluctuating without a clear breakout.
The opening bell didn’t provide much clarity either, as we attempted to make new highs, only to see prices fall back.
At one point, I took a position near the session’s VWAP (Volume Weighted Average Price) after noting the potential for price to push down toward session lows.
This trade was very calculated, and while we didn’t make new lows, the market showed signs of reverting slightly.
Things began to pick up around 10:45 AM, after an hour of choppy price action.
Once we broke through a previous interior high, I told the team that if price held above that level, we could push higher.
This aligned with my trade plan and confirmed the possibility of targeting liquidity levels at $77.
That level became the target, and we successfully hit it, with the market providing further upside momentum beyond $77.
A Morning of Multiple Trades: Lessons Learned
Today, I took more trades than I typically would – five trades in total.
This was more than my average, but each trade was based on valid technical setups and followed my trade plan.
Here’s a quick breakdown of my trades:
Two full target hits – These trades played out exactly as planned, hitting my predefined targets.
One full stop-out – While disappointing, it’s important to remember that stop-outs are a natural part of trading. We win some, we lose some.
Two partial stop-outs – These trades were stopped out at a profit, though they didn’t hit the full target.
In hindsight, I might have taken fewer trades if it were later in the week, but as it was Monday, I knew I had time to recover if needed.
Ultimately, despite the choppy market, it was a net positive day.
Trading on Mondays can sometimes lead to overtrading, but the key is to manage your risk and stay within your plan.
Market Context: External Factors at Play
The broader market remains indecisive, which is likely due to several macroeconomic factors.
There’s lingering uncertainty about the U.S. presidential election and the geopolitical tensions in the Middle East, particularly with potential U.S. retaliation after Iran’s actions in Israel.
These unresolved issues are causing a degree of hesitation and volatility in the markets.
As retail traders, it’s critical to be aware of the macro environment while focusing on our trade setups.
We can’t control these external factors, but we can control how we react and adapt to the market’s movements.
Key Takeaways for Retail Traders
Stick to Your Plan: The most important lesson from today is to stick to your trading plan. Only act when the market aligns with your strategy. If the evidence supports a trade, take it. If it doesn’t, stay out. Patience is essential, especially in a choppy market.
Don’t Overtrade: While today was an exception where I took more trades than usual, remember that less is often more. Overtrading can lead to unnecessary risk. Aim for quality setups, not quantity.
Journaling Is Crucial: Every trade is a learning opportunity. I encourage you to document your trades, whether in an online journal or a simple notebook. Reflecting on your trades, both wins and losses, helps you improve as a trader. I personally record my trades and take notes after each session, so I can review what worked and what didn’t.
Protect Your Capital: Always prioritize capital preservation. My primary objective after entering a trade is to protect my capital by moving my stop to break even or slightly into profit when possible. A small loss or breakeven trade is always better than letting a loser run.
Wrapping Up
Today’s session was a reminder that even in choppy markets, there are opportunities if we stay disciplined and follow our trade plans.
I ended the morning profitable despite the challenging conditions, and I hope you can apply some of these insights to your own trading.
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.
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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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