weekend ed

Why I Sold the All-Time High on Friday

by Tony Rago

Hey trader,

Friday morning, the NQ was ripping. We were sitting at all-time highs. The trend up was unmistakable.

I put a short on at the 77.

The setup told me to take it. So I took it.

That decision is the entire job. 

Trading does not require you to predict the future or to have an opinion about whether the rally has more room. It requires you to execute what the levels and the probabilities tell you to do.

The trade paid. Price came back and tagged the 62 right where the math said it would.

"I couldn't have scripted it better if I tried."

That one trade summed up everything I have been trying to teach in the room for months.