Friday's Market At The Close

The market surge (NQ) in the open only to bow down in the close.

It runs out of steam when it reach the top at around 11:00 am. ET.

I guess that's the usual move especially it's Friday, the profit taking day.

It's been lagging for almost the whole trading week, suddenly this Friday it burst like a gunfire in the open.

The best entry here for a long trade is above the red line with that small candle.

The exit should be at the top level with that big red bar around 11:45 am. ET.

That's where the lunch time occurs in the Wall Street.

Better to take the profit before lunch time, otherwise you will end up getting your lunch at MCD.

Friday's Trade Setup

The market made a surprising/stunning move today.

It rises from the deep hole for it was sinking the last weeks.

Today's jumper move/trade was an opportunity to buy in the open.

Shown is the 5-min. chart with the entry for a long trade.

The Choppy Market

The market did not do any good move today and all it got to do was to move sideways.

This is the kind of environment that should stay on the sidelines and just watch the market do its zigzagging.

This is where you can exercise the discipline, not to trade.

You cannot trade the market all the time unless you scalped it that takes a lot of guts to play the market.

Seems the market will take a lot of time to get its traction, it is on the consolidation mode.

But the strange thing is that, it is on the downward trend.

I suspect it might drop further unless big money will buy the market.

The participants are gauging each other, trying to psyche each others motives.

We'll keep on watching who's going to prevail.

Intelligence Is Overrated: What You Really Need to Succeed

Albert Einstein’s was estimated at 160, Madonna’s is 140, and John F. Kennedy’s was only 119, but as it turns out, your IQ score pales in comparison with your EQ, MQ, and BQ scores when it comes to predicting your success and professional achievement.

IQ tests are used as an indicator of logical reasoning ability and technical intelligence. A high IQ is often a prerequisite for rising to the top ranks of business today. It is necessary, but it is not adequate to predict executive competence and corporate success. By itself, a high IQ does not guarantee that you will stand out and rise above everyone else.

Research carried out by the Carnegie Institute of Technology shows that 85 percent of your financial success is due to skills in “human engineering,” your personality and ability to communicate, negotiate, and lead. Shockingly, only 15 percent is due to technical knowledge. Additionally, Nobel Prize winning Israeli-American psychologist, Daniel Kahneman, found that people would rather do business with a person they like and trust rather than someone they don’t, even if the likeable person is offering a lower quality product or service at a higher price.

With this in mind, instead of exclusively focusing on your conventional intelligence quotient, you should make an investment in strengthening your EQ (Emotional Intelligence), MQ (Moral Intelligence), and BQ (Body Intelligence). These concepts may be elusive and difficult to measure, but their significance is far greater than IQ.

Emotional Intelligence

EQ is the most well known of the three, and in brief it is about: being aware of your own feelings and those of others, regulating these feelings in yourself and others, using emotions that are appropriate to the situation, self-motivation, and building relationships.

Top Tip for Improvement: First, become aware of your inner dialogue. It helps to keep a journal of what thoughts fill your mind during the day. Stress can be a huge killer of emotional intelligence, so you also need to develop healthy coping techniques that can effectively and quickly reduce stress in a volatile situation.

Moral Intelligence

MQ directly follows EQ as it deals with your integrity, responsibility, sympathy, and forgiveness. The way you treat yourself is the way other people will treat you. Keeping commitments, maintaining your integrity, and being honest are crucial to moral intelligence.

Top Tip for Improvement: Make fewer excuses and take responsibility for your actions. Avoid little white lies. Show sympathy and communicate respect to others. Practice acceptance and show tolerance of other people’s shortcomings. Forgiveness is not just about how we relate to others; it’s also how you relate to and feel about yourself.

Body Intelligence

Lastly, there is your BQ, or body intelligence, which reflects what you know about your body, how you feel about it, and take care of it. Your body is constantly telling you things; are you listening to the signals or ignoring them? Are you eating energy-giving or energy-draining foods on a daily basis? Are you getting enough rest? Do you exercise and take care of your body? It may seem like these matters are unrelated to business performance, but your body intelligence absolutely affects your work because it largely determines your feelings, thoughts, self-confidence, state of mind, and energy level.

Top Tip For Improvement: At least once a day, listen to the messages your body is sending you about your health. Actively monitor these signals instead of going on autopilot. Good nutrition, regular exercise, and adequate rest are all key aspects of having a high BQ. Monitoring your weight, practicing moderation with alcohol, and making sure you have down time can dramatically benefit the functioning of your brain and the way you perform at work.

What You Really Need To Succeed

It doesn’t matter if you did not receive the best academic training from a top university. A person with less education who has fully developed their EQ, MQ, and BQ can be far more successful than a person with an impressive education who falls short in these other categories.

Yes, it is certainly good to be an intelligent, rational thinker and have a high IQ; this is an important asset. But you must realize that it is not enough. Your IQ will help you personally, but EQ, MQ, and BQ will benefit everyone around you as well. If you can master the complexities of these unique and often under-rated forms of intelligence, research tells us you will achieve greater success and be regarded as more professionally competent and capable.

Wednesday Trade Setup

The market gap down in the open but recover before noon time.

As if it formed a cup with a handle pattern.

To enter a long trade, the arrow as shown in the circle area is the best location to put the entry.

Tuesday Trade Setup

The market recovered in the midday trading when it drops in the open.

It formed a wide "w" pattern, a sign that it might recover from its slumped.

Being patient in the market waiting for the opportunities to pop pays a big part.

Like this one from the QQQ etf's which is the equivalent of the NQ Futures.

The best entry for a long trade is at the lower arrow and can be exited from the pivot point.

Monday's Trading

The market barely made a move today for it's Monday, a day participants starts to gauge each others throat where the markets headed.

It consolidates on a choppy range, but the bulls somewhat looking for an upper hand.

Other than the news coming from overseas, the market is just waiting for any favorable news to make its move.

Don't see any probable setups from the QQQ (NQ) today, other than to scalp the overall market index.

Let's see for the coming days if there will be a jumper trade, but it usually happened in the overnight session.

Unless you watch the market like a hawk in the wee hours of the Globex session, you cannot catch the real meat.

After that, the regular open is the real hard battle where the pros always makes the action to profit.