Today was an example of turning a non-trading day into a trading day. You must be committed to trade around your distraction, before, between, or after. My preference is the pre-open, although during earnings, there will be opportunities in the after hours.
Set a schedule to view the markets everyday. Some days will not have a significant setup to warrant a trade, but odds will favor you over time. Commit, seek, trade.
TODAY: ES AND TF
CLICK TO ENLARGE
This is the screen setup we use in the webinar. The objective is to trade with the markets. I find it the best guarantee that the trade has a high probability to work. The professionals are trading with you, not against. Trade the markets, then follow the individual trend.
Travel day, so no trading? That would be the thoughts that defeat you before you begin. When setting up the BOT ranges, the market was singing loud and clear to trade. You do not have to wait for 9:30, or any other time.
LB test, FBO, bear TL, FBO of EMA, SB BO, and I'm sure you see other points to suggest a trade.
Commit, seek, trade. Then leave it behind and enjoy your day.
added Sat. 7/23/11
follow up comments: any suggested trade is hypothetical, but bases upon room discussions regarding similar patters and setups.
The jest of this post was to trade around your conflict. Personal trading was over in the early AM due to one of those conflicts.
Interesting to note, we look for a BOT BO trend that should hit +5 to +10 given current market conditions. +10 was to the tick, followed by a bull reversal channel. Note the consolidation at the +5 level, near b20. We would look to this to BO to the upside for a trend continuation Long, and an expected move back to the short BOT (SB). The failure of the PA to reverse the SB kept the market in the Lower Trading Range (LTR). PA was in consolidation just below the SB, and had no significant trade.
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