Millionaire Reveals Top Trade Idea Each Week CEO, Jeff Bishop, shares his top pick for the week each Monday, straight to your inbox.

“My strategy aims to help you pull one winner out of the market each week, regardless of market conditions!” – Jeff Bishop

I don’t want to spend too much time on what you already know: It was a crazy week in the market. I’ll let this chart tell the story:


(Monday the S&P 500 fell -1.22%… Tuesday it jumped 1.56%…. Wednesday it plummeted -2.96%.. Thursday the market was flat.. and on Friday it rallied 1.48%.)

Why was the market all over the place?

Some of it had to do with the escalation and de-escalation of the U.S.-China trade war. Part of it was all of the headlines about the inverted yield — which historically precedes recessions… and always gets investors nervous.

So instead of boring you with the details of what happened this week, I’m going to show you the simple tricks I used to thrive this week so you’re put in a position to succeed — no matter what the market throws our way.

Keep Your Trading Simple (and Profitable)


Jeff Bishop — a millionaire trader and RagingBull CEO  — is a certified Mensa genius. He’s been trading for over two decades… but he’s not a jack of all trades.

If anyone could handle trading multiple setups, using different indicators, chart patterns and securities, it’s him.

However, he doesn’t.


His extensive experience tells him that keeping it simple is always the best.

If you don’t know, Jeff is an options trader who almost always uses his one specific setup – The  Money Pattern – to identify and time trades.


It’s worked for him in every market environment… bull markets, bear markets, and choppy markets.

Like Jeff, I don’t try to focus on being able to do everything in the market… I focus on my best setups.

I’m sure you’ve heard the quote “a jack of all trades is a master of none.” I’m a firm believer that the quote applies to trading.

Does that mean you should never try something new?


You see, as traders we have to grow and learn… and that means testing out new strategies and figuring out which ones work for you so you’ll have a toolkit that allows you to make money in the markets in multiple ways.

That being said, we could see another volatile week… and you should have a go-to strategy that has been proven to work in extremely volatile markets… not only that, it should be simple and easy to use.

So which strategies have been working right now?

Well, for one, my Daily Deposits trading system has been working well with the market all over the place… and it’s actually really easy to use and you know exactly what you’re trading before the market opens.

How does this strategy work?

I only focus 3 easy-to-follow technical patterns before the market opens everyday.

  1. The head-and-shoulders pattern lets me know that I should be looking to buy put options.This pattern is a bearish setup, and more times than not, when we see this setup,                                the market trades lower.
  2. The inverse head-and-shoulders pattern is used for timing entries in call options.The inverse head-and-shoulders is a bullish setup… and once it breaks above the neckline, we tend to see a move higher.
  3. The exponential moving average (EMA) line crossover, which is great for timing call and put option trades in a choppy market.Basically, when I see two lines cross, it let lets me know exactly where the market is headed – allowing us to take advantage and profit.

(You can find examples of each pattern by clicking on the links above.)

Those are my go-to patterns. I’m able to quickly spot them on charts and have a great feel for when to use them…

… and that’s my edge in the markets..

I’m not saying these are the only patterns that work, but they are the only ones that have been working consistently for me.

However, that’s not the only thing that can help you in this market environment. When markets are volatile, you need to have the mindset of a trader and understand how to manage your risk.

My patterns weren’t the only thing that helped me last week… risk management and adapting played key roles.

Limit Your Exposure, Limit Your Risk

One of the worst feelings for traders is waking up and seeing futures set to gap massively, in either direction.

That’s exactly what happened a few days last week, but the most dramatic move was on Wednesday — when the S&P 500 was down1.5% before the market even opened.

The buy the dippers who aggressively positioned themselves on the long side after Tuesday’s 1.6% rally probably couldn’t go to sleep and had knots in their stomach when they saw futures were set to gap down big.

In this market environment, it’s tough to be a bull or a bear and hold positions because it’s impossible to know what tweet or headline might hit the wire and move the markets overnight.

There’s a simple solution to that.

Don’t hold positions overnight.

It’s the one thing that’s allowed me to avoid waking up with big losses in my account…

… going to cash before the market closes.

If you have no overnight exposure to the market, nothing can rock your account and catch you off guard while you’re fast asleep.

This isn’t something I always do…

… but I believe we’re in a day traders’ market right now, and this is the most effective way I’ve adjusted my trading to the current market environment.

Useful Tips for Navigating Through This Mess of a Market

Something else I’m telling my Daily Profit Machine members is that you don’t have to trade as much if you’re struggling in this market.

You should only stick to your very best setups… with the best risk/rewards… the ones that provide you with an edge. Not only that, you should always have a concrete entry and exit plan to go with your edge trades.

Personally, I’ve only been taking one trade a day lately, aptly called my Trade of the Day

It’s always an options trade on SPY — the ETF that tracks the S&P 500. Trading one ticker practically everyday for the past few years gives me an advantage. I know exactly how it trades and which patterns work best.

This isn’t uncommon in the trading world — only trading a few stocks that you’ve mastered. I’ve just taken that to a bit of an extreme, but it works for me.

So how does it work?

I get up at 3 AM EST everyday and analyze overseas markets, pre-market trading and any news that might affect our position. After that, I look to spot one of my three patterns – letting me know exactly where the market could get to.

Once I’ve done all that… I send my Trade of the Day to members about 30 minutes before the market opens.

This process allows me to adapt my trade to whatever happened the night before. And I don’t stay in trades too long… a few hours max in the morning. Again, this limits my exposure to the market.

My setup either works or you there’s a change in the pattern – letting us know to get out of the position. More times than not, these patterns work a bulk of the time… and you can check out what my members have to say on twitter. 

The last note I want to leave you with: If you had a tough week in the market, it’s time to forget about it. Don’t let what happened last week — good or bad — affect your trading on Monday.

And if you need help navigating this volatile market, that’s what I’m here for. That’s basically what my Trade of the Day is, a roadmap for the day ahead plus my highest probability trade.

To start receiving it everyday the market is open, starting this Monday, sign up here.

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