Hello there! This is Barrie Einarson from Trade Ideas bringing you the latest and most exciting revelations from the trading world in my series, What Makes This Trade Great.

Observations From the Trading Day

Today was a rather uneventful day in the market for me. The market behaved quite erratically, a pattern reflected in the S&P 500 Index (Spy) particularly. This choppiness, no doubt, was due to the recent events over the weekend in the Middle East, causing oil prices to go through somewhat of a roller coaster ride.

However, amidst the catastrophe, one trade stood out, shining like a beacon. The trade, surprisingly, was piped to me by our state-of-the-art, AI-based trading system.

AI and Trading: A Beautiful Symphony

Why is this trade important for me? Well, the significance lies in when the alert was sounded and how the trade transpired. The alert was sounded at 129, as showcased by the blue arrow on the 15-minute chart.

One would assume the best time to jump in would be immediately after the alert was sounded, but, trading on volatile days like today requires a cool head and patience. Contrary to popular belief, you don’t have to pull the trigger right at the alert. What you could do instead, is wait, patiently let the set up evolve.

The Power of Patience and Strategy

Interestingly, following the alert at 129, the security dipped down to about 121, granting a potential window of 45 minutes. Traders need to understand that immediate action isn’t always the best course of action. In this case, immediate-action traders would have purchased at the alert signal, only to watch the stock decrease down to 121.

Remember, “Patience is not the ability to wait, but the ability to keep a good attitude while waiting.” – Joyce Meyer

The importance of patience becomes evident when we consider the upswing this set up takes. The security price ascended from the initial alert at 129, all the way up to 195 before falling back into a pullback. This shows that not being hasty can actually be beneficial in the trading world.

As we chat, the security is still up about 13% to 14% from the AI alert. Despite the temperamental nature of the day, I was able to secure a commendable profit, validating the wonders an AI system can do and the virtue of patience for traders.

Wrapping Up

Out of a rather ordinary trading day with only two notable trades, this one substantially outshone the others. So, if there is a nugget of wisdom to take from this, it would be this: Embrace technology like AI and cultivate patience in trading. The market might seem daunting, but with sound judgment and the right tools, it can be a playground of opportunities.

I urge you guys to digest these insights and bring them into your repertoire. Stay engaged in the room and let us crack the code of trading together. Wishing you all a wonderful evening. Keep an eye out for my next post, until then, happy trading!

Remember always, opt for smart trading, not hard trading.

See you tomorrow!

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