Year-Long Trading Plan

Brief email note & exchange with valued CM Team member…

Hello Austin,
First, how about the Dolphins beating the Patriots?

[AP] Yay!!

I had a few questions about symbols, this and that that I was hoping you could help with, when you have time.

[AP] I always have time for you.

I am starting the New Year with an account balance of $5,000.00. My opinion is getting that account build to 10,000.00 will be the hardest part. I am still trying to figure out 2 or three symbols. The ES is one, I would also like a non-emini symbol, but would that need to wait until I am above 10,000?

Finding one or two other symbols I am struggling some with. Because of my account size is the CL a viable option at this point? Or is that one that should wait until I am 10,000 +, in your opinion? Any thoughts you have would be greatly appreciated. If there is a different symbol I have not listed that might be a good fit, let me know.

[AP] I would say it boils down to CL traded correctly, with discipline. That means trading the textbook cm patterns AND most importantly, trading away from the open range toward the road maps. In almost every case, the really good moves happen away from OR towards the RM or back to the OR from the RM.

The gist of it is this: be picky with CL trades, work the OR – RM directions using trade signal charts to time entries… rather than fixate on trade-trigger charts. I’ll expand on these points greatly in the team site this week and weekend…I’ve got a lot more to say & share in there, soon.

As discussed, CL gave three (3) CM Pattern signals sequences as shadow-boxed above. I spent the day yet again at Cornell University with a dog that has racked up some moderate medical bills, lately. We figured out what the issues are, nothing life-threatening but a genetic disorder that eventually leads to total blindness. News could be worse, much worse. Life goes on.

Meanwhile, anyone who knows the framework of our methodology and can count to less than ten saw those exact-same trade sequences without fail. What we do is that objective, and that plainly visual. CL has its days and sometimes weeks where price action is congestive, dull and choppy… just like every other financial market in 2013′s low volatility trough. But you should expect much more active, volatile and volume-moving market conditions for the new year ahead.

Because of emails like this one above and also because 2014 will be my last year of live-room operation and then I’ll retire from that forever, I have an educational plan for those aboard next year that nobody has ever done before.

For more daily updates from Austin, visit his blog at Coiled Markets.