THE COVID-19 VIRUS is driving markets crazy – thank goodness we can trade both up and down!

 

Crazy volatility and even crazier proposed business closures has sent the markets into meltdown. Now more than ever is a great time to understand how to trade the markets down. Why? A new GFC, call it a “loss of Global Financial Confidence” is banging down our doors and the ramification will be huge. Very few people are likely to escape the very likely economic slow down. For me, best thing to do is to prepare for it. How? Understanding how to trade the markets when they are falling and rising and doing this at the same time every day.

 

Here is a quick checklist for what I look for when I am seeking to sell the market and take advantage of the fall.

 

  1. Step 1: Target a Market Open (but not the opening candle). Let the market decide what it wants to do in terms of direction. It is much bigger than you and it is easier to run with the tide than it is to fight against it.
  2.  Step 2: Seek for the trend to be set using a proven trend indicator that you already trust. Do not be afraid to wait 10 – 15 Minutes for the trend to lock into place. You will be very well rewarded for your patience. We use a colored band called the Market Direction Indicator. When this trend indicator is green as it is in the image below, we are in an uptrend and hence we should only buy with that trend.
  3. Step 3: Set your targets and stops as per the volatility. Use the market to guide you in your target setting decisions. On the image below, Arrow 1 represents the first Buying move of the Singaporean Open. This set the mood for the session and also set a great target for any trades that you have taken. Arrow 2 is a guide as to how far the market was due to travel the next time the Buyers showed. These are called “volatility Arrows” and are a great way to set an expectation on the market and then target that expectation.

 

Check out my screen shot below to highlight what I mean.  

 

Also check out the chat log below. As I am part of the Live Trading Room Team, the success of selected traders in the current market volatility is a breathe taking site to behold! Have a great trading day! ** Lachlan Elsworth

Here is our Live Trading Room chat log 30 March – 3 April 2020. 

 

The following text grab is straight out of the Live Trading Room over our three Live Trading Room Sessions. Please note that there are winning and losing trades in the chat log below. Losing trades are just part of trading so be aware you will get 1 or 2 from time to time. For everyone of you moving forward, slowly or quickly, I am very excited for you! ** Lachlan Elsworth.

 

Live Trading Room European Open Session with Lachy and Fred!!!

 

Monday 30 March 2020 Live Trading Room Text Grab

 

(04:50 pm) Michael (MJ): +48 dax sim 100 ext

(04:54 pm) LindaF -: +10×2 +20 +1 dax sim rcr off 50%

(05:01 pm) GeorgeS -: +10 dax

(05:06 pm) LindaF -: +10×2 +20 +50 dax sim  rcr off 50%

(05:09 pm) NickiK -: +10 +40 f dax sim rcr

(05:11 pm) GeorgeS -: +10 dax

(05:11 pm) RemieW -: +20X2 dax ec

(05:11 pm) LindaF -: +10×2 +20 +50 dax sim eff

(05:11 pm) Martin and Becca -:  +20 +40 mnq

(05:11 pm) Nathan B -: +70 nq sim

(05:12 pm) FleurS -: +10 fdxm sim

(05:12 pm) Lachy : +30 dax Thanks Fred on your call

(05:13 pm) Jamie and Tracy -: +30 fdxm sim

(05:14 pm) johnw -: +20 mnq sim long off YL

(05:14 pm) Michael (MJ): +100 dax sim on your call using lachy’s formula

(05:14 pm) RemieW -: +100 dax ec

(05:19 pm) NickiK -: +10 +40 dax sim rcr, off the YL

(05:20 pm) LindaF -: +10×2 +20 +30 dax sim off YL

(05:22 pm) NickiK -: +10 +40 dax sim rcr, off the YL

(05:26 pm) johnw -: +11 mnq sim twice

(05:26 pm) Nathan B -: +30 nq sim

(05:26 pm) johnw -: +32 mnq

(05:27 pm) NickiK -: +10 +30 dax sim rcr, off the YL  (3rd time, so ‘dead mouse’ for me)

(05:28 pm) JohnM -: +43 nq rcr off 50

(05:29 pm) Nathan B -: +10 mgc

(05:31 pm) Jamie and Tracy -: +20 fdxm sim

(05:32 pm) Michael (MJ): +60 dax ec sim

(05:38 pm) LindaF -: +10×2 +20 +1 dax sim 0ff 15min 161

(05:39 pm) IvanM -: -25×2 mes on the 1 tick above the previous candle

(05:50 pm) LindaF -: +10×2 +20 +1 dax sim rcr off 141

(05:51 pm) GregS -: -20×5 cl

(05:54 pm) johnw -: +11 mnq short

(05:57 pm) johnw -: +11 mnq short twice

(06:01 pm) Hans G -:  +35×2 +10×3 mnq twice

(06:02 pm) GeorgeS -: +10 dax step brk

(06:05 pm) NickiK -: +10 +30 dax sim rcr, off the YL

(06:05 pm) LindaF -: +10×2+20 dax sim rcr off YL

(06:06 pm) IvanM -: +8×2 +16 mes

(06:07 pm) KenS -: +20 mnq sim eff

(06:07 pm) ColinC -: +25 mnq

(06:08 pm) KoziK -: +50 mnq

(06:21 pm) PaulC -: +30 nq sim

(06:21 pm) KenS -: +20 mnq sim eff

(06:25 pm) GaryW -: +26 +34 mnq sim

(06:30 pm) PeterC -: Thanks Fred. Net +123 nq for the session

 

Tuesday 31 March 2020 Live Trading Room Text Grab

 

(04:49 pm) Nathan Barnes -: +30 mnq

(04:54 pm) AlanC -: +30 nq off 76fib (sim)

(04:59 pm) AnneS -: +20 dax off 76

(05:00 pm) AlanC -: +20 +10 nq off 76Fib  (sim)

(05:01 pm) RemieW -: +20X2 dax off the 76%

(05:01 pm) James -: +9 nq sim eff

(05:03 pm) JohnM -: +40 nq rcr off 76

(05:08 pm) Michael (MJ): +30 dax sim off 141

(05:11 pm) GaryW -: +20 +37 +10 +20 nq sim premarket

(05:12 pm) JeanetteB -: +40 x5 mnq sim premarket

(05:13 pm) RemieW -: +50 dax off 76

(05:14 pm) Jamie and Tracy -: +20 fdxm sim

(05:15 pm) JohnD -:  +25 nq

(05:15 pm) KoziK -: +22 mnq

(05:15 pm) HeatherT -: +40 nq sim

(05:15 pm) StephanieL -:  +31 nq sim

(05:15 pm) James -: +13 nq sim eff atm

(05:16 pm) JeanetteB -: +40×5 mnq ec thanks Fred going to cook dinner

(05:16 pm) AlanC -: +20 +10 nq (sim)

(05:16 pm) KenS -: +20 mnq sim eff

(05:16 pm) FleurS -: +10 fdxm sim

(05:16 pm) GeorgeS -: +20 dax

(05:16 pm) Jamie and Tracy -: +20 fdxm sim

(05:16 pm) ColinC -: +12 mnq

(05:18 pm) NickiK -: +10 +30 dax sim rcr

(05:19 pm) FleurS -: +10 fdxm sim rcr

(05:20 pm) Paul -: Yea! Another typical afternoon for me.  -40, -40, -40 mnq and -20 6e

(05:25 pm) AlanC -: +8 +11 6e off 76Fib 6E (sim)

(05:35 pm) NickiK -: +10 +40 dax sim rcr

(05:36 pm) ColinC -: +22 mnq rcr

(05:37 pm) WayneM -: +10+10 mnq short

(05:39 pm) AlanC -: – 5 nq off 76Fib  (sim)

(05:40 pm) KenS -: +20 mnq sim eff

(05:42 pm) AlanC -: +20 +10 nq off lower 76Fib (sim)

(05:44 pm) AlanC -: +8 +11 6e off 76 (sim)

(05:47 pm) JohnM -: +20 nq

(05:47 pm) WayneM -: +10 +30 mnq

(05:50 pm) AlanC -: -10 nq 76Fib (sim)

(05:51 pm) GeorgeS -: +10 dax step brk

(05:51 pm) PeterW -: +36 +30 dax sim

(05:51 pm) Lachy :  +20 dax ecorpc and done for the day!

(05:51 pm) KenS -: +50 mnq eff sim

(05:51 pm) ColinC -:  +50 mnq

(05:51 pm) WayneM -: +10 +70 mnq

(05:59 pm) GregS -: +10×5 cl ;)

(06:00 pm) HeatherT -: thanks fred  done for night +127 nq sim smiley face

(06:12 pm) WayneM -: +10 mnq long

(06:27 pm) AlanC -: +10 +20 nq (inside eff candle) ;) sim

(06:29 pm) Jonny : +12 es

(06:29 pm) WayneM -: +10 +10 mnq

 

Wednesday 1 April 2020 Live Trading Room Text Grab

 

(04:50 pm) Nathan B -: +70 mnq in pre-premarket today

(04:52 pm) JohnM -: +40 nq rcr off s2

(04:54 pm) GaryW -: +70 +50 mnq sim premarket

(04:57 pm) Paul -:  -40 mnq going short after 4pm

(04:59 pm) AlanC -: +8 +11 6E off 76Fib (1hr) (sim)

(05:00 pm) JohnS -: +50 dax off open

(05:05 pm) SamD -: +40 mnq

(05:07 pm) KenS -: +30 mnq sim eff

(05:15 pm) AlanC -: +20 +40 nq (sim)

(05:15 pm) James -: +21 nq sim

(05:15 pm) WayneM -: +10+10 mnq

(05:16 pm) BrettL -: +16 mnq

(05:17 pm) GaryW -: +22 mnq sim

(05:17 pm) DerekB -: +15 mgc eff  long

(05:17 pm) KenS -: +20 mnq eff bs sim

(05:18 pm) KoziK -: +11 mnq

(05:18 pm) ColinC -: +50 mnq

(05:19 pm) BrettL -: +16 mnq again

(05:19 pm) Hans G -:  +25×2 mnq  twice

(05:21 pm) RobertM -: +24 nq sim short

(05:31 pm) PeterW -: +20 dax sim

(05:33 pm) AlanC -: +8 +11 6E off 76Fib (sim)

(05:33 pm) Michael (MJ): +70 dax sim to the 100 ext

(05:35 pm) KenS -: +28 mnq dorpec on mnq sim

(05:43 pm) StephenF -: Thanks Fred +174 gc sim extended target thanks  mate

(05:45 pm) Nathan B -: +20 mnq

(05:47 pm) KoziK -: +50 nq sim

(05:49 pm) Lachy : very nice Kozi and Nathan

(05:56 pm) JohnM -: +30 nq rcr off 76

(05:58 pm) WayneM -: +10+40 mnq short

(06:07 pm) KoziK -: +37 nq sim rcr

(06:08 pm) Michael (MJ): +60 dax sim

(06:08 pm) PeterW -: +20 dax sim

(06:11 pm) AlanC -: +20 +10(ATM) nq off 76Fib (sim)

(06:11 pm) WayneM -: +10 +40 mnq long

(06:13 pm) KenS -: +20 mnq step break sim

(06:18 pm) BarryH -: Thanks Fred. +92 mnq sim for the session. Nite all.

(06:19 pm) AlanC -: -15 X2 6E (S1) (sim)

(06:23 pm) WayneM -: +10 +30 mnq long off the S2 failure

(06:29 pm) JohnM -: thanks Fred.  +90 nq tonight

 

 Thursday 2 April 2020 Live Trading Room Text Grab

 

(05:01 pm) AnneS -: +20 dax off R1

(05:01 pm) Paul -: Asian Session: -50 -50 -50 MNQ.

(05:05 pm) DerekB -: +20 mgc  ec long

(05:18 pm) ColinC -: +20 mnq

(05:18 pm) JohnD -: +10 nq

(05:18 pm) GarethW -: +20 mnq long

(05:19 pm) StephanieL -: +10 nq sim

(05:19 pm) GaryW -: +21×2 mnq sim

(05:19 pm) James -: +21 nq sim

(05:19 pm) JohnM -: +30 nq

(05:19 pm) DC -: +25×2 mnq

(05:19 pm) NickH -: +10 nq ec

(05:20 pm) Lachy : Well done all – great trading – stay with the plan!!!

(05:20 pm) Hans G -: +25 mnq sim

(05:22 pm) Darryl -: +10x 3 nq Pre Euro and +10×2 nq Euro Open,  Thanks Fred

(05:29 pm) Lachy :  +10 dax 4 Pt Turning Bar

(05:30 pm) GeorgeS -: +10 dax

(05:33 pm) ColinC -: +14 mnq

(05:33 pm) JohnM -: +20 nq rcr off 76

(05:33 pm) GeorgeS -: +10 dax

(05:43 pm) RobertM -: +40 nq sim long rcr

(06:08 pm) ColinC -: +14 mnq

(06:08 pm) KenS -: +12 mnq sim eff

(06:09 pm) MarkB -: thanks everybody have them back luckily +20 nq

(06:11 pm) PeterK -: +15 nq sim eff

(06:12 pm) BarryW -: +20 mnq sim eff

(06:15 pm) WilliamB -:  +25×2 dax bs. Moved target as market rises. +90 tics total.

(06:18 pm) GaryW -: +20 +18 mnq sim

(06:22 pm) ColinC -: +26 mnq

(06:22 pm) PaulC -: +20 nq sim

(06:22 pm) KoziK -: +20 mnq

(06:22 pm) HeatherT -: +20 nq sim

(06:23 pm) GaryW -: +20 +8 mnq sim

(06:23 pm) AlanC -: +20 +10 nq (sim)

(06:23 pm) BarryH -: Thanks Fred. + 56 mnq for the session. Nite all

(06:23 pm) Hans G -: +40 mnq sim

(06:24 pm) KenS -: +22 mnq eff sim

(06:25 pm) GaryW -: Thanks Fred 3 positive trades. Cheers

(06:26 pm) PeterC -: Thanks Fred Net +84 nq for the session

(06:26 pm) JohnM -: Thanks Fred. Up +75 nq for the session.

 

Friday 3 April 2020 Live Trading Room Text Grab

 

(05:04 pm) JohnM -: +20 nq rcr off PP

(05:05 pm) SamD -: +20 nq

(05:05 pm) BarryH -: +30 mnq sim

(05:06 pm) DC -: +12×2 mnq

(05:10 pm) AndrewH -: +15 mnq sim off the PP

(05:11 pm) JohnM -: +20 nq rcr off PP

(05:12 pm) GarethW -: +40 mnq off the pp

(05:14 pm) RobertM -: +21 +40 nq sim

(05:16 pm) RobertM -: +21 nq sim short

(05:17 pm) Michael (MJ): +50 dax sim

(05:17 pm) GeorgeS -: +20 dax

(05:18 pm) PeterW -: +30 dax

(05:19 pm) GarethW -: +30 mnq sim rev off (nearly the ya)

(05:19 pm) Lachy : well done everyone – please stay with your plans!

(05:20 pm) GaryW -: +10×2 nq sim

(05:27 pm) KoziK -: +10 +40 nq sim

(05:28 pm) DC -: +20 x2 mnq off YA

(05:30 pm) GarethW -: +10×2 mnq delta long sim

(05:33 pm) Michael (MJ): +30 dax sim eff after 50 retrace

(05:43 pm) Hans G -: +35 mnq sim delta

(05:47 pm) GregS -: +10×5 cl rcr Thanks Fred

(05:55 pm) WayneM -: +10 mnq long

(06:04 pm) ScottP -: +20 nq sim

(06:22 pm) ColinC -: – 110 mnq

(06:29 pm) JohnM -: +20 nq

(06:29 pm) AlanC -: +20 +10 nq (sim) off 76 Fib/144 ext

(06:32 pm) RobertM -: +21 +60 nq sim

 

Well done Traders!!! Let’s keep trading the volatility using one of the best ‘Learn to Trade’ environments I have ever seen!

To me, the Live Trading Room chat log represents one of the only true measures of the credibility of a trading strategy. Why? Simply put, there is no where to hide in a Live Trading Room. For years I have had the privilege of teaching people how to trade the markets really well and my journey continues into 2020. Once again, the chat log above is proof that trading does work, if you approach the right markets, at the right time, with the right strategy and a great team to help you along the way! Well done all! Lachlan Elsworth

If you are not in the LTR and want to find out more about the IDTA Philosophy and Strategies then please watch our a FREE 90 Minute “On Demand” webinar here. Click here to get started!

 

Lachlan Elsworth and the IDTA Team!

 

Past Performance Customer Caution Notice.** Please note that our member posted results are not independently verified by IDTA, nor can the results be used as an indication of the past performance or the future performance of the strategy. All results must hence be considered hypothetical in nature. IDTA has over 1000 clients in 20 countries and to verify every result posted into the Live Trading Room, on a daily basis, would be an impossible task. Trading days that do not result in a trade being called in the Live Trading Room will be commented on accordingly.