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Upside Confirmation!

QQQ breaks out.

I typically trade only the QQQ. I found that limiting your vehicles to trade can help you do better trading. The breakout today was at 13010. I did go long on 10 contracts there and did well, but did not capture the full move. Good day, today trading.

One thing that we need to focus on in trading is psychology. You must keep sharp to do battle in the markets. What I do is that once a certain metric is met..profit, number of trades, or number of losing trades, I pack it in and do other things. This sometimes leads to missing nice setups like that one that occurred after the first pullback. That was an easy trade to take that I missed. Nonetheless, I had a nice day taking care of other things.

This move by the markets does confirm the upside, but boy do I feel uneasy about it. We had a soft reversal, and you would expect a very strong reversal after such a big down move over the year. Structurally, the world is just starting to struggle. I know the market sees 6-9 months ahead of time, but it is anticipating a short recession. I think we are going to get a very big surprise, so if you are nimble like traders can be, we can expect some very nice volatility. I intend to write a short every day, so come visit and read. Now go trade and stay green!

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