Wednesday Log - Be Prepared

Took the first trade at 0945 as I anticipated price to touch 59-60's. Filled short in upper 59's and quickly scaled 1/2 in 57's. Housing report due out at 1000 so had a bit of a cushion and profit to let remaining portion ride. Had heavy target of 52's planned as I anticipated test of overnight lows. Worked the overnight combo range as guide. Result: +9.25

Tried a couple of low risk scalps in lunch session but many distractions during the day. Call the two trades a scratch. Getting more of a scalping mentality after primary move. Been trying for too much during lunch/PM sessions and need to just go for the 1-2 point moves. Watching combo moves during slower periods and seems to be strong indication of opportunity.

Expecting continued volatile market the next couple days as we close out the week and the month. October 28 and 29, 1929 marks one of the great drops in market value in history. October has a reputation for big moves. Good traders anticipate what might happen, what could happen and what to do when something happens. The motto of the Boy Scouts serves traders well..."Be Prepared".

Trade Well!