Resistance at Yesterday's Settlement Price

Note in this chart of soybeans today that prices are struggling to main the settlement price from yesterday, denoted here by the dotted red line.

Each day, there are usually 2-3 very good trades that make most of the money. They most frequently occur near the beginning of the trading session during the day. 95% of all trading volume occurs during the day session between 10:30 am and 2:15 pm EST. However, these small trades add up also. I often will make more money on short, small trades like those depicted here than on the 2-3 large trades.

How do I know which trades will be the big ones, and which ones will be worth only a few ticks? I don't! I have to be in it, to win it! Thus, I keep reminding myself that I must keep my head in the game at all times! Being resolute in taking trades is a necessity in this business. Today and yesterday are good examples of staying with the trading to come out ahead and achieve my objectives. Grit, guts, constancy, and dauntless tenacity are a necessary character trait that are required and developed in this business.