"Mentor" Mike Bridges
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"Mentor" Mike Bridges in Mentor Mike's Live S&P Emini Trading Room,

Mentor Mike's TRADING ROOM for Thursday, 6/17/14

Fellow Traders:

In my personal account, I hit a Grand-A-Day around 10am PDT and retired.  At that point we had $988 in the ROOM.  The next failed short trade hit the first target repeatedly, but no fill.  It is always maddening to know that a one-tick quicker entry was the difference between victory and defeat.  We were still in the money after that loser when I reversed and went long.  The high of the day was one tick below our first target.  The market meandered sideways and down (see my EW chart), but I felt there was a 5th Wave waiting to be our salvation.  There was.  It peaked around 12:40pm at the daily high.  I thought about manually pulling the plug and grabbing one tick of profit.  If I had, we would have finished in the money.  But, I didn’t want to succumb to fear and waited for the market to make a new high that never came.  My stop was at the big Parabolic which was never hit.  The trade was closed automatically by NinjaTrader at 1:14pm PDT. 

Have a good evening.  See you back in the TRADING ROOM on Thursday.

Michael K. Bridges,President


Futures and Forex Trading & Instruction