Hello, Traders! Today is a special day—Election Day. With all eyes on the markets and potential fluctuations ahead, it’s essential to stay focused and strategic. Today, we’ll explore how the Sonic Trading System can perform during times of heightened volatility. For this analysis, I’ll be using a one-minute chart, which is popular among traders seeking a balance between speed and accuracy.
Before we dive in, please remember: trading is risky. Never trade with money you can’t afford to lose. While tools and strategies can improve your chances, there are no guarantees.
Setting Up the Sonic System
For today’s session, I’m moving from a 30-second to a one-minute chart. A one-minute timeframe offers a bit more clarity, allowing us to spot reliable entry points without too much noise. Immediately, I can see several signals, each suggesting an opportunity.
Now, let’s go over some key points:
- Volatility and Timing: Election days often see spikes in volatility, which can be beneficial but also risky. It’s wise to let the market settle for a few minutes after it opens. This helps to avoid the initial rush and makes it easier to identify stable trends.
- Target and Stop Placement: In highly volatile markets, the gap between the target and stop-loss can vary. Ideally, the target should be realistic, while the stop-loss needs to be manageable. I noticed on some trades today that the target was quite close, while the stop was larger than usual—a setup I would consider skipping.
- Signal Confirmation: Sonic System provides signals across platforms like TradingView and NinjaTrader. Consistency is key, so make sure your chart settings are accurate. During our live trading sessions, you can follow these signals as they appear on your own platform.
Today’s Trades in Review
I began with a long entry around 5774, which earned $87, though keep in mind that commission and other fees apply. Using limit orders has the advantage of minimizing slippage, providing better control over entry prices. Although I missed a few trades that quickly hit their targets, it’s all part of the plan. The goal isn’t to chase every trade but to select the best setups with a favorable risk-to-reward ratio.
Staying Disciplined with Limit Orders
Instead of market orders, I prefer limit orders, which allow for entry at an optimal price. Even if a signal looks promising, it’s essential to avoid impulsive entries. When a trade signal appears, take a moment to confirm the target, stop-loss, and entry.
Live Training and Mentorship Program
Our mentorship program offers in-depth training on all Sonic System tools. With NinjaTrader and TradingView support, you can use the platform you’re most comfortable with. We even offer a unique news indicator to stay on top of key events impacting the markets.
If you’re interested, visit daytradetowin.com to learn more. Join us in the live trading room to see these strategies in action.
Key Takeaways
- Election Days & Volatility: Trade carefully, as high volatility can mean larger price swings.
- Use Limit Orders: Avoid market orders to get the best possible entry.
- Don’t Chase Every Signal: Focus on quality over quantity.
Happy Trading, and let’s make today a profitable one!
