Many of you may recall one of the reasons I decided on the “Jellie” term – for both my educational company and the participating traders – was because real jellyfish have to float and eat where the current takes them.  Other than that, they’re pretty directionless.

And while some may find the term simply “cute” (or I’m sure some even find it a bit irritating!), such a “powerless” attribute is one of the main reasons I chose the term, as well as reflecting one of the differences – among many – between what we were trying to accomplish and our historical “Turtle” cousins, who were typically more trend driven.

In other words, we try to adapt to what the market is doing at any given moment … and thus try not to get locked into any rigid pattern.  And such a strategy is paramount if a trader’s plan is to grind out profits more times than not at a high %.

And such was certainly the case today as we had to adapt on the fly to the anticipated intraday breakout occurring at 4:15am – vs. during the U.S. regular session - especially for those not trading in the wee hours and thus unable to take the optimal breakout entry.  And yes, I was up and trading by 5am ET.

Again, I’ll let the Tank transcript and the team take it from here.