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Mentoring Intra-Day Trading

Mentoring, following a plan, and staying disciplined are by far the most important components to stay in the game of intra-day trading. We had a very good morning call today looking at the homework that we need to be doing everyday. Looking for high probability set ups, and learning to understand when a chart and order flow is telling us to DO nothing. Most people get into trouble day trading when they are pushing for a stock to do what he/she wants it to do. We all are smart enough to understand that a stock will do whatever it wants to do. We need to know what we are going to do depending on how we read the order flow.


At Keystone, our homework deals with identifying good order flow, order flow that is tradable and obvious, so that we can recognize it when we see it and take advantage.


FOMC trading is always fun to watch… and that is what most of traders should be doing, just watching 15min before and 15min after the announcement. As mentors in Keystone we keep traders out of trouble. We don’t trade in the first 10min of the day, volatility and order flow is too much, it’s like throwing a dart at the market – a complete guess. FOMC meeting are the same, markets goes through various iterations before it finds a directions. Level II quotes go crazy and by taking a position you are hoping it moves in your direction. That is not an edge.


Have a plan, and stick to it. If you can’t stick to your own plan, find a place you can trade with mentors that will keep your disciplined, so you can take a check home at the end of the month.



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