Emini End of Day Review - Monday May 15, 2023 - Brad Wolff

foreign  [Music]  [Music]  so overall a really interesting day as we can see let me start with the daily chart on the daily chart we have had a lot of trading range Trading just look at the chart and when you look at this we've been going up we've been going down we have a  lot of overlapping bars trying to get this better in the middle of the screen there we go so anyways we're in breakout mode and when we look at this chart there's a few things one is we've got the September High which is right here this is September  2nd so two slash two and that is a potential Target we've also got a measured move projection from here  here this is March 13th March 22nd this is 4300.  the most important thing to realize right here is that the market is going sideways and we're in breakout mode we don't know if we're going to go down to 4,000 down here or if we're going to break to the upside what we do know is the probability is very close to 50 50.  and when the probability is close to 50  50 just keep it really simple and assume  all breakouts will fail until proven  otherwise same thing with the daily  chart  today  we had a big first bar  and I'm a really big proponent in saying  that most Traders should wait for the  first couple of bars first six bars  first 12 bars and the reason for that is  it makes it it gives you a lot of  it gives you a better better  understanding of what the day is going  to do  so the first thing I do when I'm  starting out is  if I have nothing on the chart I'm going  to take the obvious yesterday's high  and I'm gonna paint yesterday's low down  here  I know these are two  obvious magnets  and the next thing I'm going to pay  attention to is the open  so here's bar one we know where the open  of the day is  so I'll go ahead and just paint that  and on bar one when you look at that bar  what does it tell you it's a big big bar  it's a possible trap trapping bears  into selling low in a typo Channel  being from here to here yes  but it's a big enough bar it's probably  not going to be a bull Trend therefore  probably sellers above seller scaling  and higher but because the channel down  is tight it's typically better to wait  and see the follow through  bar two is a doji it's a doji bar it's a  bad stop entry by above two one is a big  enough bar probably sellers above in a  second leg down  so when I see one I'm expecting a second  leg down I know the Bears that sold one  are going to be disappointed though  therefore sell the clothes stop up here  but that is a problem if the next bar is  a big bull bar closing on its high you  may have more Traders exit  but the reality is even if we rally up  to here probably sellers above  three a  another doji so it's kind of like a  micro double top up on two down on two  up on three down on three is it sell the  close it might be if you're betting on a  second leg down  and then we get a second leg on four  what about four is it reasonable to sell  the clothes  bar one is big enough we're probably  going to go a little bit lower  and it's always in short from one and  it's probably okay to be short  where's your stop  probably somewhere up here betting on a  second leg down  bar five  two consecutive bear bars at the moving  average still always in short better to  be short than long  tight full Channel and the one thing we  have to be thinking about is is this  going to be a pullback and is this  reality gonna get a second leg  so that's what we don't know is they're  going to sell off to the 72 High the 74  low the 72 low any one of these lows  could be support  six  three consecutive bear bars probably  always in short  and sell the clothes  and then seven we have a pullback  seven it's a possible second entry buy  with two and six but type bear channel  it's still more likely to sell the  clothes and probably gonna go higher  than it is going to go straight down  and then eight we have the Bear bar what  do you notice about the sell-off we went  down on two up on three down on six up  on seven and now we're down on eight  it's a parabolic wedge parabolic wedges  have a higher  the greater risk of a pullback and  sometimes they can lead to an endless  pullback also on the open fifty percent  chance that you get a major reversal  so David asked a question why don't I  consider the price action up to 9 30. I  do consider the price action up to 9:30.  what I'm saying is by waiting for six or  twelve bars in other words if I don't  trade for the first six bars I'm not  saying always do that but what I'm  saying is there's no rush by waiting for  six to 12 bars you gain information like  what do we know right now based on this  open there's there's one thing we can be  pretty sure of and that is the odds of a  strong bull Trend day are very very low  which means the odds favor a bear Trend  or trading range day  so if we go to a 60 Minute chart or  better yet this is let's go to a 15  minute chart  you just find the first two bars of the  day right here  Big Bear bar follow through bar so when  you think about that even though it's  following this big rally  consecutive bear bars it's probably sell  to close and probably going to get at  least a small second leg down therefore  any upside from here is probably going  to be limited  if I go to that yesterday by waiting for  the first six or seven bars increase  risk that  by waiting you gain certainty that  there's probably not going to be another  strong Trend day nine we have a small  bear bar still sell the clothes but  because it's becoming parabolic you have  bar one and then hesitation two and  three  three bars still off to six hesitation  seven Big Bear bar eight hesitation on  nine that and you're at support  fifty percent pullback from the rally  around yesterday it's actually lower  it's probably about 60 percent  this is an area where bulls will  probably start buying  and then you get a bull bar on 10. what  do you do with ten do you buy buff Tim  and when I say another thing someone  mentioned whenever I say yesterday I'm  referring to the prior trading day  you know it's easier by by looking at  the prior day and just saying yesterday  it's easier because it really doesn't  matter this is Friday this is Monday on  this chart the this is the prior days  trading obviously if we go to the es  with the Globex then we would be  referring to the  the you know early morning hours or  Sunday morning hours but when I just say  yesterday  when I'm looking at an es.d especially  if I'm talking about the e-mini five  minute  since I basically only chart on the  Globex if I refer to yesterday I'm  referring to the prior days price action  bet110  you have a bear bar and it's excuse me  it's a bull bar and it's closing on its  high so stop placement is important to  consider if you're you're a bull  better yet if you're a bear and you're  short where would you put your stop you  can put it on  above eight you can put it above seven  or you could put it all the way up here  the point is it's bad risk reward  anywhere  so if you're short here  if you're short at the 10 high and you  put your stop above one  this is your risk all the way this is  your Target and this is your risk so in  order to get one times your wrist  the market would have to fall  they did that again the market would  have to fall  all the way below yesterday and that's  probably not going to happen  and if that's the case then you know  it's bad risk ward in the market it's  probably going to pull back so most  Traders would rather tighten their stop  how would they tighten their stop  they would start looking for prior  higher lows  maybe bar 7 is reasonable so if I sell  the close of 10 stop above 7. now what about the argument of the trader that sold below one can they keep their stop above 10.  it's important to remember that it doesn't matter where you enter what matters is the current market price to your stop so for everybody that's short you're current at the close of 10 your stop is from the close of 10 to wherever you put it that's your risk  and whenever you get two or three pushes down it's reasonable to expect a couple legs up in a test of the prior lower lower high in this case Bar Seven therefore a lot of Traders would consider moving their stop up here and even though they expect it to get hit a lot of  Traders would get out above 10.  why would they get out about 10 because  typically when the market tries to do  something two or three times especially  let me rephrase that whenever the  Market's in a trading range and you get  two or three legs down you often get a  reversal attempt and a couple of legs up  because of that  you will have traders who  will look to take profits and look sell  again higher  so what about buying above 10 it's  probably okay possible lower higher low  from from Friday or yesterday  so probably going higher and then 11  it's a strong entry bar  strong enough sell-off down to nine  probably sellers above and a second leg  down but when you see 11 you look at it  and you think wait something's wrong  with the bare case and even more Traders  will begin to exit why would they exit  because 10 and 11 are strong enough for  a second leg up and if they're strong  enough for a second leg up then you know  there's probably  buyers below and the Market's going to  expect a second leg up and so because of  that we could easily test the three High  the open of the day anywhere in here  and then 13 we have another strong bull  bar now we have four consecutive bull  bars  with three of them closing on their  highs to me  10 through 13 is strong enough for a  second leg up and therefore probably  buyers on the close of 13 scaling in  lower  14 another Bull Bar still buy the  clothes probably going higher 15 same  thing 16 by the close but becoming  climactic it's a micro Channel since 10.  so it's a 16 it's a six bar micro  Channel probably buyers below scaling  and lower  18 or excuse me 17 we have a bull bar a  little bit climactic  but who's gonna sell the channel up is  so tight the first reversal down is  probably going to fail reasonable to  expect higher prices into the moving  average now even reasonable to expect  price to go to the moving the open of  the day  even if we get to the open of the day  what do you think is going to happen  the odds are today is the trading range  and we've had a big sell-off and a big  rally big down big up big confusion what  about the Bulls that bought anywhere  over here you know they're trapped  and because of that  you're going to have Traders  disappointed looking to sell up here  18 Big Bear bar and you can see it  tested the middle of bar one  it went a little bit above it and then  sold off so 18 is a reminder that  Traders are taking profits  foreign  19 is 18's big enough bar it's a little  bit of a surprise probably sellers above  in a second laying down some Traders  bought the clothes of  17 they bought the 17 low they scaled  and lower you know they're going to be  disappointed on 18 and a lot of those  Traders will look to get out on a bounce  20 we have a bull bar testing the high  close 17 probably some sellers up here  scaling in higher but type bull Channel  probably gonna get to the open of the  day  so if you're selling here the reality is  probably better if you can use a wider  stop and with the strength of the  sell-off to 17 three consecutive bull  bars we could easily get an upside  Breakout  but probably second leg down from 18.  22 Another Bull Bar still probably buy the clothes and scale in lower and then a doji on 23 getting close to the opening of the day probably gonna go sideways 24 Bear bar closing on its low some Traders sold above 19 and sold more below 24.  probably use that to get outbreak even and then 27 obviously anybody that sold here and scaled in was able to get out and break even so the Market's forming a  trading range lots of buying pressure though but the Bulls need to overcome this sell-off from one to nine  27 Bear bar at the moving average Bulls bought it 28 strong Bull Bar possible two legs down 25 to 27. what about buying above 28 you can but you're buying in the middle of a tight trading range and there might be more sellers above than buyers  29 we went above 24 and immediately sold off some Traders sold the close of 27 and sold more above 24 and then use the current bar 29  to exit  30. we have another inside bar so we're  starting to get a lot of overlapping  bars and because of that  you know that the market is probably  going to go  more sideways  in general  with the market being above the moving  average it's probably more bullish than  bearish but not by much  and then outside bar inside bar lots of  high trading range price action  whenever you get ili patterns inside out  inside bar outside bar inside bar  or II patterns consecutive inside bars  or oo patterns consecutive outside bars  what that means is  whenever it's in a tight trading range  that is breakout mode patterns and it's  a reminder that whenever whenever you  have a lot of outside bars or inside  bars or really just overlapping bars in  a trading range it's important to  remember that  Traders should expect more sideways  Trading  33 inside bar and then 34 strong bull  Breakout  but you can see what happened on the  next bar Trader sold it so trading range  price action better too late for the  breakout up or down it's a triangle  so better to just wait  36 it's another doji Bulls bought the  close of 34 scaled in lower getting out  on 36.  and 37  Bear bar 38 a bull bar and then 39 bull  bar closing above several bars to the  left still barely always in Long  and then 40 we have a bull breakout  above one  good for the Bulls  probably going to get a little bit  higher but we really need to see the  follow through  and 41 we have another Bull Bar  it's a small bar but with this with the  size of 39 to 41 probably buyers below  scaling and lower  and then 42 and even stronger bar so you  could see a lot of Traders  some Traders they sold  the one high scaled and higher on 41.  so they entered at 44 even though they sold higher at anywhere from 44 to  47.  and you can see the low this bar was 44. So the 42  let me do like this you can see the 42 low tested the one high exactly to the tick so Traders are trapped  I'm gonna move this back to the opening of the day  42 still by the close but an inside bar a doji bar 43 so we have a rally up to  43.  we have a pullback on 42 and a second  leg up to 42. and then a doji so  disappointment so leg one pullback leg  two  and then 44 Bull Bar 45 a  bull bar closing at its midpoint it's a  parabolic wedge even though it doesn't  look obvious and whenever you see  two clear legs up  so the low of 10 the middle of this  trading range rally up to here it's  basically two legs depending on how you  draw it you always have to think about  the left and  when you look to the left here what do  you notice  so let's do it like this  I'm going to make this line really thick  and the reason is if we go to the prior  day  which was Friday on this chart  Bears got trapped Bulls got trapped  buying the three low and  the too low they got trapped during four  so look at this line here what do you  notice  it rallied right back to that area and  turned down  even the Bulls that bought the High  clothes  this High one so we had a gap on Friday  High one on bar two even though it's a  bear bar  came really close to it  the point is  you're still in a trading range on a  higher time frame it's probably easier  to see on like a 60 Minute chart  strong sell-off  that was this morning even  and you can see that aligns even with  the Globex Market parabolic wedge  whenever you get a parabolic wedge and  you have a  you have a rally a lot of trading range  price action over here  and you get a parabolic wedge it's hard  to see but it's basically this  so you're going to Rally to 41 pull back  rally to 42 pullback rally to 45 and  it's parabolic because  it's extreme we know it's a breakout on  a higher time frame but whenever you get  a bear bar like 46 and what could be a  trading range you always have to wonder  if there's more buyers below  or excuse me if there's sellers below so  if the market goes three or four points  below this bar  you may have more Traders conclude  that the market is going that is in a  trading range  and that the market is going to go lower  if it's in a trading range  we could go all the way down here  and if the microphone is quiet let me  know I've had to make some adjustments  on this computer and I've still got a  few more to do so if the mic sounds  quiet I'll turn up the game  47 big enough Bear bar probably at least  a small second leg down some traders  that bought the 45 46 low this Bear bar  will be disappointed and because of that  some of those bulls that bought the 46  low and more lower will look to exit  back at the 46 low and then 48 a big  bear give up bar  sell the clothes 48 but it's a big bar  and it's climactic and look where it is  it's at the open of the day  and because of that  this may be an area of support with  three consecutive bear bars it's  probably sell to close and going lower  small bar 49 still sell the clothes but  you've had a big rally big sell-off big  up big down big confusion probably  sideways it's the opposite of this big  sell-off big rally probably sideways  50  Bear bar  closing above the 49 low  and then 51 a bigger Bear bar  with five consecutive bear bars you  always have to wonder just like here we  had a micro channel from 36 to 46 so we  had a 10 bar micro Channel sharp  sell-off here we have a one two three  four five six bar bear micro Channel you  always have to wonder if we could get a  reversal  doji 52 probably sellers above scaling  and higher  but trading range day  and you always have to wonder if the  micro channel will lead to a sharp  reversal  and a bar like that on 53 whenever I see  a bull bar like 53 it's a big bar  probably buyers Below in a trading range  day  a lot of Traders will exit because the  risk is you're going to get a second leg  up and we could rally all the way up  here before the Bears even get a second  leg down  the sell-off to 48 it's possible that's  leg one  and 49 is a doji and the market gets  second leg down 54 bull bar is it by the  close probably tight bear Channel though  you know there's going to be sellers  somewhere up here  55 a little bit of a tail so warning  that the market may not go that much  higher before it starts to pull back 56  a bull bar and then 57 a doji  so it's kind of a micro double top  up 155 down on 55 up on 56 or 57 down on  57.  58 surprise bear Breakout probably going at least it's enough of a surprise probably gonna go sideways but it was reasonable to buy the 57 low so Bulls bought and scaled and lower Bears who sold and scaled on higher they used 58 to exit but 58 is enough of a surprise probably a second leg down so some Traders buying below this bar or lower  60 doji but probably a second leg up from the rally to 57 Bull Bar 61 micro double bottom down on 58 up on 58 down on 60 or 61 up on 61.  The entry bar is decent for the Bulls and then decent Bull Bar 63 probably gonna get a second leg up and may have to get all the way back to the 46 low so the Bulls bought the 46 low they scaling lower we may have to get all the way up here  64. it's a bull bar it's two legs up 57  pullback here 58 second leg up 64.  second leg up but after four consecutive bull bars really five bull bars really five bull bars probably buy the clothes and go lower but the pullback could be deep foreign  Big Bear bar but after this many bull bars still buy the clothes probably going lower 66.  deep pullback testing a low of 59  probably buyers below and at least a second leg up and then we pretty much went sideways into the close so for always in trading I think that's probably single-handedly the most important thing for people to learn how to trade bar one is always in short arguably maybe Traders sell to close it too in general better to wait for consecutive bear bars but okay to sell One Stop above for a second leg down no reason to get out above seven and then eight Big Bear bar always in Bears get out above 10 because it's a wedge bottom bull bars maybe aggressive Bulls by 10 or 11.  aggressive Bulls buy and where do they get out probably below 24  and I'd probably do nothing in here  Bulls by 38 big It Out Below probably 46 Bear bar 48 second leg down  Bulls by 53.  The bears exit and really tough stand here maybe the Bulls get out a couple points below 64.  but then overall sideways  so go ahead and ask your questions if  you haven't answered so for limit orders  days like today you know everything is  it's filled with limit order Trading  and  probably the easiest limit order trade  of the day buying below either 17 or 16  but you know why it stop and the reality  is if you buy anywhere over here and put  a stop down here you're probably gonna  make  everyone to buy and scale in you're  probably going to make money  probably sellers above 18 for a second  leg down buyers below because of the  rally up to 17 it's typically better to  buy below bars and scale and lower  betting on more sideways  and  what about  buying below bar like 46 46 it's an  inside bar greater risk of a downside  breakout and when you get a bar like 46  it's typically  it's pretty dangerous to buy it's two  legs up this was a strong reversal in  the first leg so the odds were the  market was going to have a second leg up  with all this trading range price action  here  when you get a rally like 46 there's a  greater risk of a deeper pullback  for by stop entries  reasonable to sell below one but big  risk  okay to buy the 10 by above 11 and  what about buying above 28 I would not  selling below 24 I would not  but especially and the reason I wouldn't  typable rally  micro Channel since 19 to 24. so not really ideal and what about selling below 46 you can but that's a pretty aggressive  10 bar micro Channel probably buyers below we ended up getting a breakout though in lower prices reasonable to buy  Above 53 but probably a minor reversal which means sideways and that's probably the last stop entry I would take buy the closed cell to close probably okay to sell the close of one sell the close Six buy the close maybe 11 by the close 13 14 15. you can even buy the closest bar like 18 because of the strong Rally from 10 to 17.  probably buy the clothes 40 will break out of a tight trading range probably going a little bit higher five to close  41 by the close 42. you give even by the close 43 but at some point over here 44  45 best looking Bull Bar of the rally smallest body probably going to go sideways let me tell you what questions a few weeks ago you talked about dojos and how the market normally comes back to them can you explain this a little bit more yeah dojo's a trading range bar and trading ranges in other words two-sided trading or magnets so if you think about the rally from let's say this rectangle let's try that there we go thing about this Thai trading range here this is a  doji on a smaller time frame it's a trading range and it's a magnet you can see the market sold off to it found support and reversed even the rally to  43 that's a doji that's a tight trading range on a smaller time frame and it's a magnet but the point is dojo's overlapping bars increase the risk of a pullback you look at a bar like 18 and 19.  if you notice the midpoint of 18 we tested it on 26 28 we tested it on 51. On some time frame, 18 19, and 20 is a  reversal we went down and then we went up so it's an overlapping bar but tails are magnets inside we have a big tail and an inside bar and then you can see the market tested down in these lower tails and reversed up we have a doji on 49 right here it's a trading range Bar following a Breakout we went down for two bars but look what happened a few bars later we went right back to the doji let's find some other examples you know even though here we sold off  31 32 33 Bull Bar 34. this 34 is buying pressure we sold off on 35.36 on Friday look where we rallied we rallied to the midpoint of the buying pressure then we sold off more and we rallied even above it so they're just magnets really Hey Brad can you expand on the Bulls did a great you know for these  Expressions Bulls did a great job or the Bears want to do X Y and Z yeah when  I say the Bulls did a great job or the  Bears did a great job it's just expressing you know they exceeded the expectation based on probability so 10 we have a stop entry eleven Bulls did a great job of getting a strong entry bar and if I'm you know and I'm expressing that from the standpoint of if I was a bull what would I want to see if I see 10 I'm thrilled if I see 11.  and if I'm a bear and I sold below 46 and then I see a 47 entry bar and 48 strong  Bear bar the Bears did a great job of getting the reversal they'll probably get a second leg down foreign question what are the odds of getting 10  points up before getting 10 points down at the close of bar 11. that is actually a really good question because and I really like this question because Jacob is asking directional probability and that is the single most important thing to understand it's extremely important what's the probability of Market going X number of points down before it goes X number of points up or X points up before it goes  X points down so what's the odds of getting 10 points up before it goes 10 points down to close the bar 11. yeah so you know the  way I would look at that Jacob is this  what's the odds at the market at 11 goes  down to the 10 low before it goes up to  this high  so what's the odds if let's say this is  six points what's the odd that goes up  six points before it goes down six  points and the reality is it's probably  low  and because of that then  look what happened the breakout started  to expand so then you see 12 then you  see 13 you start Task what's the Mark  what's the odds the market goes to the  10 low before it goes the measure move  up or even this rally  we didn't quite get there  but obviously we stopped at one of these  so to me  trading range day  I think that's really important but  eventually the breakout gets too big  it's like the opposite here  I mentioned at the high of one  the odds of getting a measured move of  one is reasonable  the odds of getting a measure moved down  from six to the high of one is less  reasonable than the odds of getting a  measure move from the low of 9 to the  high of one is even less reasonable  so that is certainly  and you could say the same thing for  here the low of 10.  to the high of this at some point the  odds become low but at this point you  can argue sixty percent chance we're  going up here before we're going down  here then we go sideways for X number of  bars and the probability has to be less  than 60 percent  we came close though and so why did we  go sideways because Traders want less  than the risk  everybody expects nobody's confident  there's a sixty percent chance you're  going up to here before you go down here  and by tightening by the risk  Contracting or in other words the range  forming a tight trading range you can  buy Above 39 stop below 36 and have  great risk reward for lower probability  so giving up probability is sometimes a  good thing  foreign  61 a reasonable swing taking a chance we  get back to the bar 45 closed  so it was bar 61.  a reasonable swing taking a chance to  get back to the 55 close up here there's  actually a few reasons I thought that 61  was actually a reasonable buy because  the rally up to 57 was strong enough the  Bears the Bulls should get a second leg  up and because of that  probably by the close Trader Skilling  and lower betting on a second leg up  and then 63-64  buy the clothes  probably going a little bit higher so  yeah I think that's okay  Brad can you explain how to trade wedges  successfully sometimes it's marked as an  entry and in similar situations at least  similar to me it's not what is the clue  yeah it I think the the best wedges to  trade are wedges that are pullbacks from  larger breakouts  so in other words wedge tops  like let's take this what made 10 so  reasonable of a possible low of the day  look to the left  with a strong rally up to here and then  an attempt to reverse the rally  that is a pullback so this could be a  spike pullback and then Channel  what about a wedge on a day like this we  have a wedge bottom eight  14 and maybe over here the problem with  wedge Bottoms in this is It's a wedge  bottom and a bare Channel and that is  lower probability why is it lower  probability because  wedges that are the bedding on the  bottom in in terms of just a channel  when a channel is tight can get its  higher probability to get a downside  breakout there's a higher tendency  if you're betting on a wedge that let's  say is a pullback from an initial move  so let's find an example  here's here's an example of a wedge  pullback we had a strong rally and then  three legs down bear breakout on  this bar reversal up so it's wedge one  two three  that is a better wedge  than trying to pick you know parabolic  wedge here one two three so I hope that  makes sense  how do you know it will start a pullback  I'm not sure  what this person is asking above but can  you explain who trapped two from bar 24  to 39  well there was there was lots of traps  Bulls buying below bars scaling in lower  Bears buying  above bars scaling in higher  so Bulls by below bear sell above back  and forth back and forth then eventually  limit orders got trapped limit order  Traders got trapped on 39 and 40.  can you talk about profit taking 5 10 15  20 and 40 points and how it can be an  opportunity to scalp or swing in the  opposite direction because of profit  taking yeah it's really it's as simple  as this  so let's find an example  psych bar  53 53 is a bull bar after a tight  sell-off to a tight channel the odds are  the Bears will get some kind of second  leg down  so Traders will naturally  look to sell  they see 53 and they'll say okay  we may give a measure move up with a bar  but we probably won't go much higher  because even if we rally this sell-off  is strong is strong enough probably a  trading range so instead of selling the  53 High some Traders sell a measurement  up of the bar  so you can see if you sold  if this Bar's range is let's say five  points and you sold five points Above  This Bar  and the high of the bar is 42.50 so you  sold 47.50  you can see price went one tick above  47.50 and immediately reversed off and  Traders call that a reach trade  and that happens pretty pretty regularly  you know even and really what it what it  means is typically the Market's gone too  far that it reverses so if you take the  you know bar one  the higher bar one lower bar one it went  down all the way to here but if you  bought in this area betting that the  market was going to go back to the one  low before it went another measure moved  down you'd made money  but that is the form that's that's very  common in trading range price action  the low of 10.  to the high of this close the market  came close to a measure move up but didn't  quite get to it and versed off back to  the close So eventually you get a  breakout that's gone too far that it  usually will pull back before it  continues lower  can I see the daily blog updates  I'm going to post it in the comments you  can see them here  and if you want to  find out more about the trading room  so for the person asking about the blogs  you can find them on this website right  here  so if you're looking for the blogs  to this website  do you think it's a good idea to have a  total Point goal for the day after which  you are done trading or is it better to  make the most out of the setups that  present themselves most Traders would be  better off  and they get varies on where someone's  at  the key is to trade small and really  learn the nuances a price action  so  you know I think I think it's certainly  okay to have a point go for the day and  then stop  and if you

're gonna stop you just  continue studying the day  all right so that's all the time I have  for questions today  thanks for watching and I hope everyone  has a good rest of their day  [Music]