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Live Trading Session Summary (12/04/2023)

Quick recap

Anthony opened the session with discussion of various topics including the performance of various trade setups, the importance of risk management, technical analysis of a trading strategy, financial instruments, potential trading opportunities and challenges, impact of the spread on trades, and trading scenarios.


Summary


Email Providers, Zoom Features, Trade Performance


Anthony discussed the possibility of switching email providers due to issues with the current one where some members are not getting emails. They also mentioned a new feature from Zoom that provides meeting summaries (like the one you are reading right now!).


In the discussion about trades, they noted the performance of various trades, including the GBPCAD, where they locked in 1R of profit and emphasized the importance of risk management. After moving their stop to lock in 1 R profit we stopped out, securing our profit while the trend turned against us. Towards the end, they mentioned an after-hours trade and expressed regret for missing an opportunity. They also invited questions and requests for specific trade reviews.


Market Analysis and Trade Opportunities


Anthony analyzed potential opportunities for a Clubhaul and concluded that none were present due to lack of quality opposing Zones. They further discussed potential trades and explained why certain opportunities were missed. The meeting primarily focused on financial market scenarios, with Anthony emphasizing the importance of identifying supply and demand levels and potential trade opportunities. They stressed the need to monitor market activity closely and avoid "stranger tides". Towards the end, they briefly mentioned some technical indicators and potential trades but did not finalize any specific actions.


Trading Strategy Analysis and Technical Issues


Anthony discussed the technical analysis of the 'Gauntlet' and 'Depth Charge' concepts. They concluded that a particular level didn't qualify as a Gauntlet due to the absence of one 'R' of origin above and analyzed the performance of the EURCAD and EURCHF. They identified a potential trading opportunity that almost materialized but was missed due to a retrace.


Anthony reminded the Crew to let him know if his volume was ever low as Zoom sometimes resets it's internal volume meter compared to the computer's audio settings.


Financial Instruments Analysis and Market Discussion

Anthony analyzed various financial instruments, noting the successfully managed trade with the GBPCAD and a failed charge with the GBPCHF that was being evaluated for a "sharky zone Depth Charge Datapoint".


A trade was setup on the EURNZD.


Anthony touched upon the performance of other instruments like the pound yen and the pound Zealand, emphasizing the importance of patience in trading. They then transitioned to discussing the market for the month of December, and finished with some technical discussions about stopouts and levels.


Financial Instrument Spread and Trade Impacts


Anthony discussed the price movement of a financial instrument, focusing on the concept of spread and its role in preventing them from getting stopped out. They explained that the spread is added to the price to ensure they don't get stopped out and that it takes into account potential market volatility.


They then moved on to discuss potential trades, identifying levels of support and resistance and considering the RSI.


Trading Opportunities and Challenges Discussed


Anthony discussed potential trading opportunities and challenges. They mentioned the difficulty of finding many profitable long or short opportunities. (Christmas is coming!) They emphasized the importance of decisive moves through levels, such as the significance of a pivot break. They also demonstrated a trade that nearly executed but was missed due to a slight delay. They concluded by reviewing additional currency pairs, noting the absence of quality levels and the need for caution and following our rules.


Trading Scenarios and Market Uncertainty


Anthony continued evaluating trading scenarios, focusing on identifying and executing trades.


They also noted a successful trade executed at 6:15 PM, which they described as a Clubhaul trade, and another trade that was not taken due to a lack of clarity on the market direction.


They emphasized the importance of experience in trading and the need to avoid imagining levels that don't exist. They also reviewed a trade that was taken and locked in some profit, but noted that it fit multiple categories of the rules they usually follow so 'wisdom' prevailed in taking a smaller profit.


Lastly, they wrapped up the meeting by celebrating our profitable November and expressing gratitude for the Crew.


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