Opening Bell Income Strategy Evergreen

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Earlier today, Craig and I hosted a LIVE Trading Session implementing the Opening Bell Income Strategy. We had a great turnout! The ES sold off right out of the gate which offered a couple of SHORT trading opportunities… of which, both were profitable! A number of folks were able to profit from today’s live trading session.

We are hosting a LIVE Q&A Session this evening at 7pm ET and another day of LIVE Trading tomorrow starting at 8:30am ET were you can learn how we do our multiple time frame analysis top-down approach to determine the Key Trade Zones we trade off of. After the opening bell we will use the big picture context of the market and market internals to determine how to trade off of our Key Trade Zones.

If this is something that might interest you, there is still time to join us this evening and/or tomorrow… you can learn more about it here…

Identify Zones Pre-Market
Good morning for Tuesday, July 8th and I’ve got Craig Hill with me. We’re actually recording this video after the first couple hours of trading today. Today was the first day of live trading for the Opening Bell Income Strategy. We want to outline a couple of the trades that we took this morning that worked out very nicely. Craig’s going to go through that with you in more detail.

We had a really good day. This morning we identified zones pre-market. We started with a plain vanilla chart and we went through our top-down analysis and came up with our key trade zones for today between 8:30 and 9:30 pre-market.

This morning the market had sold off right out of the gate. We didn’t have any news. I really wasn’t expecting a trend day. However, we broke out of a few day consolidation. We identified key trade zones and we can see that a market internal pretty much broke through what we look for as our neutral numbers. We identify our neutral numbers to determine if the markets are bearish, slightly bearish or strongly bearish.

As this market continued to move down, a few folks in the live trading were able to get short. We talked about that using the average true range to determine the likelihood of continuation in one direction in a trend day. We talked about that in the webinar, how to use that.

Students Gained, Despite Our Miss.
Todd and I ended up missing the fill. However, a few folks in the room actually picked it up. There was one gentleman who rode it all the way down to 57. We were actually looking for a little bit better trade location where we could define that risk. What we and a number of folks in the trading session ended up doing was shorting this on the breakdown as this market had bounced up and then clearly failed.

And then we had a textbook pullback to our minor key trade zone. There was another short, because the internals were still confirming continued movement to the downside. At 11:00 the Nasdaq had just barely pulled back to maybe 25% of the day’s range and the internals were still moving lower. We went ahead and set up for an automatic short, and easily picked up about 2.5 points, from 59.5 down to 57. Some folks actually even traded all the way down to 55.5.

It was a pretty good day today. You had to be a little more aggressive going in the market on that when you have an open drive like that. Other than that, it was a really good day.

[Tweet “With the Opening Bell Income Strategy, the key here is probabilities and consistency over time.”]

Positive Feedback from Our Students
I’ve got an email from Wayne. He was in the live trading session this morning, “Two trades from session today, $200 profit by 11:00 a.m.” Great. Also, Jeff was there from the beginning. He signed up back at the end of May, attended the webinar and attended the two days of live trading. Today he sent me this email at 1:49, just 48 minutes ago. He says, “I’ve been in search of the holy grail for about seven years, and it has taken me through options, stocks, futures and back again. I’ve been a student of Todd’s for almost two years. Combined efforts of all those years begin to pay off using the Zone system. And quite frankly, I find it quite funny to hear some of the comments from students because they’re still searching for the holy grail, too. I’ve come to realize, as you and Todd have, that the secret is not in the zone, but in the risk-reward probability game. And what you and Todd have helped me see is that it is not about perfection, but probabilities. You have broadened my analytic skills, which have resulted in me taking my own trades, on my own time, within your system. And I can use this system and feel confident that if a trade doesn’t work, big deal, even the professionals have losing trades.”

Bye for now, and have a profitable day.

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