$780 Today In The Live Trade Room

Market Commentary October 29, 2009

Another great day of trading for the School of Trade! We saw a number of different news events come out during our trading session this morning; at 8:30am EST Unemployment Claims and U.S GDP q/q was reported. Then at 9:30am EST Treasury Secretary Tim Geithner spoke as well as at 10:30am EST we had the Natural Gas storage stats being released. With all these news events affecting all the markets we trade in different ways, we had to be careful to pick only the very best set-ups on the most liquid markets. This proved to work just fine for us, as we went 5 for 6 today, with a total profit of $780; and all done on a $4,000 trading account (Futures Day Trading Account Management Video)!

We started off our trading day on the British Pound futures (Symbol 6B). Since the start of the European trading session, the pound futures had been in rather narrow choppy uptrend, but started to oscillate with wider price swings once greater volume enter the market in the U.S (Sideways Market Day Trading Futures). After seeing price rally after the 8:30am EST news events, we looked to enter the market with the added volume; and waited for a set-up. Shortly after the news had been released we saw a possible Breaker short set-up, and were able to enter the market at 8:37am EST at 1.6493. Once our order had been executed, we were quickly given the opportunity to take some profits, and closed our trade with +4 ticks (4 contracts) giving us a total of +16 ticks for our first trade of the morning ($100).



Our next trade came rather shortly after our first, but this time on the Crude Oil market (Symbol CL). With the natural gas storage numbers being released later in the morning, we weren’t sure if the crude market would produce much of anything; but today it actually did! With good volume and just the right amount of volatility added to the market, we were able to take some great trades off it this morning. It rallied strong after the GDP and Unemployment figures were released, and didn’t pullback in price until the start of the open outcry pit trading at 9:00am EST (Identify Market Sentiment For Day Trading Futures). At this time we saw a great opportunity to enter the market to the short side because of greater volume enter the market, and larger sell orders coming across the ticker tape. At 9:02am EST we decided to enter the market short with a 2-step pattern and a basis of 78.67. While in the market, we didn’t have to wait long for our profit targets to get filled and even got a chance to let our final contract run with price action, locking in profits of +4 ticks (2 contracts) +8 ticks and +7 ticks for a total of +23 ticks ($230).



Seeing this trend to the short side continue in the Crude Oil, we didn’t wait long before entering that same market once again to the short side (Scalping Futures Day Trading Video). With a continuation of the trend setting up, we looked to take a Breaker pattern to the short side. This is exactly what we did at 9:08am EST, as we entered the crude oil market with the trend on our side and a basis price of 78.35. With the trend in our favor, we were able to scalp off another +4 ticks (2 contracts) on this trade, for a total of +8 ticks ($80).



We continued to wait patiently as the market trended higher in the Crude Oil market. It wasn’t long before the Crude Oil had made a run at its daily highs; giving us yet another opportunity to trade. After seeing the market test the previous highs, it was clear to use, based off our technical indicators, that the buyers were not going to hold price for long, anticipating this, and waiting patiently for our price pattern to set-up for an entry, we looked to take the market short after the buying pressure had been exhausted (Swing-High Swing-Low Technical Analysis Day Trading Futures Video). Finally at 9:41am EST the buyers looked to take profits, and sellers once again entered the market, giving us a great Breaker short pattern and enabling us to enter the market at 78.67. Price soon took off to the short side as more and more sellers joined the market, giving us the chance to take profits at +4 ticks (2 contracts) +8 ticks and an additional +4 ticks on our final contract, for a total of +20 ticks ($200).



After seeing the Crude Oil market test its daily highs once before, we continued to watch the market as, after a slight pullback, it rallied once again and finally broke the highs of the day around the $79 price level. It was evident though to us, via the P.O.T indicator, that the buying pressure would not hold for long, thus giving us a change in the short term trend and a possible trade set-up. At 10:08am EST we were given our quick trend change, and were able to take advantage of it with a 2- step short ( Crude Oil Futures Day Trading Video). We entered with added selling pressure coming into the market, with a basis of 79.13; and it wasn’t long before our profit targets were getting hit, helping us lock in profits at +4 ticks (2 contracts) +9 ticks and an additional +15 ticks for a total of +32 ticks ($320).

Our sixth trade of the morning, and our last came on the British Pound futures (Symbol 6B). Simply put, we thought the market was going to go higher based off our price pattern set-up, but unfortunately, since the market is always right, we were wrong on this trade. As all of our traders are taught, you simply can’t have every trade be a winner. Although it was a disappointment to take a loss as the last trade of the day, it also provided us with another learning experience, that all traders take a loss at time and no one is perfect. Our trade set-up at 11:06am EST as the British Pound was looking to make new highs, so we entered the market with a Breaker patter long at 6589; and ended taking a full stop out of -24 ticks (-$150).

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4/4 Today Over $300 In Profit, Join The Live Trade Room

Market Commentary October 28, 2009

Well it’s been another wacky Wednesday here at the School Of Trade!! There was a good amount of news coming out today, which gave us some great volume and volatility to trade off of. We stayed away from the Crude Oil market this morning, which is usually our bread and butter, mostly because of the inventories figure being released at 10:30am EST (history had shown added volatility on these days). Instead we were able to find some great price action in a few markets that many trades usually over look, the Mini-Russell and the British Pound futures. We were able to go 4 for 4 today, with a total profit of $380!

Our first trade of the morning came on the Mini-Russell (Symbol TF). The Mini-Russell’s price action was fairly choppy until the U.S equities market opened at 9:30am EST, at which point more volume began to filter into the market. With price now beginning to oscillate more, we began to look for quality set-ups in the market (Sideways Market Day Trading Futures). At 9:42am EST our price pattern finally allowed us to enter the market with a 2-step long at 583.8. We quickly realized that momentum was to the long side, as we watched more and more buyers come across the ticker tape, this gave us a great opportunity to take profits at +4 ticks (2 contracts) +8 ticks and +2 ticks on our final contracts, for a total of +18 ticks ($180).

We waited a short while for our next trade to set-up, with the U.S news at 8:30am EST as well as the opening of the U.S equities market, we needed to be patient with our set-ups. We were able to take our next trade off the British pound futures, which actually rallied due to all the news in the early morning hours of the U.S session. The rally continued until about 10:00am EST, when buyers began to take profit, allowing the market to make some quick changes in its trend and giving us more trading opportunities (Price Patterns Technical Analysis Futures Video). As the market began to pullback from its highs of the day, we looked to enter the market long once again. At 10:11am EST we entered the pound future long with a classic Breaker set-up. We set our buy stop limit at 1.6390 and were executed promptly; allows us to take some quick profits of +4 ticks (4 contracts) before getting scratched out of our remaining contracts, for a total of +16 ticks ($100).

The third trade of the day came later on in the morning and was also taken on the British Pound futures (Symbol 6B). We had noticed that price had tried to rally higher, but with no success, began to pullback once again. After seeing this pullback in price, we began to look for a continuation in this trend, or a change in the short term trend. It wasn’t long before we saw buyers stepping back into the market, and with larger orders coming across the tape, we noticed the market was beginning yet again another short term rally (Scalping Futures Day Trading Video). At 11:11am EST we decided to join the buyers in the short term trend with a Breaker pattern. We entered the market at a basis of 1.6387; and we were quickly able to pickup +4 ticks (4 contracts) before our remaining contracts were scratched from the trade, giving us a total of +16 ticks on the trade ($100).

Our final trade of the morning came once again on the Mini-Russell market (Symbol TF). After our first trade off the Mini-Russell, the market began to consolidate until more volume entered the market. Once news events in the U.S markets were released, the Min-Russell began to sell off sharply, allowing for us to take advantage of the added volume in the market. At 11:42am EST we were able to identify a quality set-up in a 2-step short with our basis being at 575.2. We watched the price action patiently, waiting for sellers to enter the market, but after seeing our Pace of the Tape flash yellow and then red bars, we knew price action had began to slow down and decided to exit the trade at our entry price, +/-0 ticks on the trade ($0) (3 Key Components To A Day Trading System Video).

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2/2 Over $400 In The Trade Room Today

Market Commentary October 27, 2009

It was yet another great day in the markets for all of us at the School of Trade. We were able to take 2 trades, and went 2 for 2 with a total profit of $470.00 on 4 contracts. Both of our trades this morning came on the Crude Oil market (Symbol CL). The Crude oil market retraced off its highs yesterday afternoon, and never looked back, closing inside the $78/barrel price at the end of the day. The commencement of trading in the open outcry pits at 9:00am EST this morning as well as the U.S Equities opening at 9:30am EST only brought the market lower yet again, into the $77 price level. It wasn’t until the late morning when price action began to trend back up towards $80/barrel (Identify Market Sentiment For Day Trading Futures).

When we finally saw the pace of the tape increasing at a speed we liked (showing green P.O.T bars), and noticed more and more participants entering into the market, we knew it was time to take a trade. At 10:19am EST we noticed that price was beginning to retrace off its lows of the day, and after a slight pullback in price, we noticed the sellers might not be finished with the market. We decided to enter the market to the short side with a Breaker pattern completing its formation, and our order was executed at 78.32 ( Crude Oil Futures Day Trading Video). Once in the market, we kept a keen eye on all of our technical indicators to ensure the best possible outcome. It wasn’t long before our momentum was turning to the short side, and more sellers came across the ticker tape, allowing us to take some quick profits at +4 ticks (2 contacts) for a total of +8 ticks on our first trade of the morning ($80).

Our second trade came shortly after our first was closed at a profit and was also taken on the Crude Oil market (Symbol CL). The selling pressure didn’t last long, and hindsight showed us we got out at just the right time, because buyers began to quickly file into the market and sellers raced to take profits (Scalping Futures Day Trading Video). With strong buying pressure entering the market, and larger than normal order flow ticking across the tape, we looked for a possible entry signal into the market. At 10:26am EST we got exactly that, and entered the Crude Oil market long with a Breaker pattern. Our stop limit order was filled instantly, with a basis of 78.75; and we watched as the buyers soon took over the market, pushing price much higher than we expected, allowing us to take profits at +4 ticks (2 contracts), +8 ticks and an additional +23 ticks on our last contract, netting us a total of +39 ticks on our final trade of the morning ($390).

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$320 In Profit Today, Going 2/2 In The Trade Room

Market Commentary October 26, 2009

Well today’s price action sure proved to use that it was a Monday morning! We saw some decent volume enter the market as the U.S markets began to open up and begin their trading, but didn’t take any trades until later in the morning. We saw many great trading opportunities, but the price action wasn’t quite was we were looking for. Fortunately, we were still able to take 2 trades today and going 2 for 2, we closed out our day with a total of $320 in profit!

Our first trade of the morning came on the Crude Oil market (Symbol CL). In the early electronic trading hours, the Crude Oil market had rallied roughly a dollar, and then began to consolidate at its highs until the start of the open outcry pits began trading at 9:00am EST; at which point price rallied even stronger into the $81 price level. The opening of the U.S equities market at 9:30am EST brought the Crude Oil market even higher into the 81.50 levels, but the rally didn’t last long, and it started to pullback strongly as sellers entered the market and buyers ended up taking profits. It wasn’t long before the Crude Oil market was testing the high $79.00 price level once again, giving us even more opportunities for possible trades ( Crude Oil Futures Day Trading Video). We finally were able to execute one of the School of Trade’s set-ups, the Breaker short, at 11:15am EST. With price action as well as the trade pattern setting up perfectly, our order was executed at a basis of 80.57 and the sellers in the market didn’t wait long before selling the market even further. The selloff allowed us to take profits at +4 ticks (2 contract), +8 ticks and +16 ticks for our final contact, netting us a total profit of +32 ticks on our first trade of the morning ($320).

Our second trade of the morning came shortly after our first, when we began to see increasing price action via the Pace of the Tape indicator, on the British pound futures (Symbol 6B). The British pound futures trended higher for most of the morning, and it wasn’t until the late morning that it started to take back about 50% of its rally. With the price action finally showing us a top around 11:00am EST, we waited patiently for another quality set-up to take into the lunch hours of the U.S markets. At 11:59am EST price action finally gave us a great opportunity, setting up a Breaker pattern to the short side. We were able to enter the market with a basis of 1.6340, and waited patiently for the market to make its decision on a direction. After seeing price action slow down considerably to a crawling pace, via our P.O.T indicator, we made the decision to exit our trade early, at our entry price (+/- 0 Ticks). Granted, the bottom soon fell out of the market , which would have resulted in a profitable trade for us, but it is of utmost importance for all traders, of any skill set, to react to price action, and not try to predict it, which is exactly what we did; and it saved us money (3 Key Components To A Day Trading System Video)

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2 Step Set-Up

Market Commentary October 23, 2009

Well it has been another great week of profits for all of the traders at the School of Trade! We saw some decent price action today; earlier in the morning many of the markets seemed to consolidate from yesterday’s close. This didn’t last long though, with the chairman of the Federal Reserve, Big Ben Bernanke, speaking at 8:30am EST as well as the Existing Home Sales figures being released today for the United States (Identify Market Sentiment For Day Trading Futures). With another exciting day in the markets come and gone, we were able to scalp off two trades, for a total of +$260 to end our week!

Our first trade of the morning came on the Gold market (Symbol GC). Today the gold market continued its consolidation throughout the early electronic trading hours, but once the currency and commodities trading began at 8:20am EST, the Gold market really started to rally. We believe this rally also had to do with the Federal Reserve Chairman Bernanke’s speech at 8:30am EST. With the passing of some of the news events and added volatility, we began looking for possible School of Trade set-ups on the Gold market (Gold Futures Day Trading Video). Our opportunity came about an hour later, when Gold was finally starting to retrace off its highs. At 10:08am EST we entered the market short, off a Breaker pattern; getting our order executed at 1062.8. The stochastics began to rollover to the short side, and as more sellers joined the market via our pace of the tape indicator, we were able to pick up +4 ticks (2 contracts), +8 ticks and another +10 ticks for our final contract, for a total of +26 ticks! ($260)

The second and final trade for us on this Friday morning came on the Mini-Russell (Symbol TF). We also saw a lot of consolidation today on the Mini-Russell; and didn’t see any real significant price action until the U.S Existing Home Sales numbers were released at 10:00am EST (E-MINI Futures Day Trading Video). With added volume finally entering into the market after 10:00am EST, we were able to start looking for possible quality School of Trade set-ups. At 10:46am EST we were able to qualify a Breaker pattern short; gaining an entry into the market at a basis of 603.8. Soon after our order had been executed, we continued to watch price action on the tape and our P.O.T indicator to see where the market was going to show us any follow through. After seeing our first target just barely missed multiple times, we decided it was in the best interest of our account balance to exit the trade early, for a scratch (+/- 0 ticks).

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Market Commentary October 22, 2009

Today was another great day of trading for all of us at the School of Trade! All of the trades we took today were after the major U.S news events, and we made sure that the U.S Unemployment Claims were released before looking to take any trades. The reason we did this was because, many of the larger institutional traders will wait to play the news events, which is very dangerous to day traders such as ourselves (Identify Market Sentiment For Day Trading Futures). We were able to take three trades this morning, and went 3 for 3 for a total profit of +$260!

Our first trade of the morning came prior to the U.S Equities opening at 9:30am EST. Of course we also had to wait for the U.S Unemployment Claims number to be released at 8:30am EST, which gave us roughly an hour to trade before the U.S open (3 Key Components To A Day Trading System Video). After the news, we began scanning all markets for possible trade set-ups, and it wasn’t long before we found one on the British Pound futures (Symbol 6B). The pound had been retracing off the lows of the day, and once volume stepped into the market after the news, it began selling off once again; we decided to take advantage of the short term trend by entering the market short with our Breaker pattern. At 9:02am EST our order was executed with a basis of 1.6532, and we were swiftly able to lock in profits at our first profit target of +4 ticks (4 contracts) for a total of +16 ticks on our first trade of the morning ($100).

The second trade of the morning came shortly after our first, when we were able to scalp some ticks off of the Crude Oil market (Symbol CL) (Scalping Futures Day Trading Video). The Crude Oil market had been consolidating inside the $80 price range ever since the beginning of electronic trading, but once the open outcry pits opened up at 9:00am EST, the market began a strong sell off into the $80.00 price level. Taking advantage of this short term trend change, we entered the market at 9:04am EST with a Breaker pattern. Our order was executed at 80.34; where our stop limit was placed, and as more sellers joined the market, price action was able to lock in +4 ticks (2 contracts) for a total profit of +8 ticks ($80).

Our third and final trade of the morning also came on the Crude Oil market (Symbol CL). Ever since the open of the U.S Equities market, price hadn’t really broken out of its range near $81/barrel, so we continued to be patient and wait for our set-ups to come to us, we were not about to force any trades and risk losing all of our profits for the day. Our patience finally paid off at 10:22am EST when we noticed that the Crude Oil market was beginning to rally into the $81/barrel price level ( Crude Oil Futures Day Trading Video). Seeing the short term trend to the upside, we quickly entered the market with a Breaker long at a basis of 81.09. Once our order was executed price action began to speed up and momentum once again curled in our favor; with an increase in the speed of the tape to the long side, we were able to guarantee +4 ticks (2 contracts) on our final trade of the morning with our ATM strategy, for a total profit of +8 ticks ($80).

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2/3 Today In The Market, Had To Fight Through Difficulties

Market Content October 21, 2009

Today was another day of profitable trading with the School of Trade! We had to be very selective in our trades today, mostly due to the Crude Oil Inventories being released at 10:30am EST. It is always important to be aware of any and all news events that are coming out during the trading day; because you never know how it will affect the market you might be trading. We were able to take a total of 3 trades today, going 2 for 3 with a total profit of $80 on 4 contracts.

Our first trade of the morning came on one of the E-mini’s, the Mini-Russell (Symbol TF). The mini-Russell stayed relatively flat with little volume until the start of the U.S Equities market opened at 9:30am, at which point buyers jumped in the market and price began quite an impressive rally into the 10:00am hour. It was at this time though, that the rally began to weaken, and as the buyers began to take profits off the table, more and more sellers looked to be entering the market; setting up a perfect counter-trend trade for us. At 10:17am EST we were able to capitalize on the quick trend reversal with our 2-step pattern, getting an entry price of 620.9 to the short side. After seeing price action form a double top in price it wasn’t long before the market started to sell off, allowing us to take profits at +4 ticks (2 contracts) for a total of +8 ticks on our first trade of the morning ($80) (Price Patterns Technical Analysis Futures Video).

The second trade of the morning came shortly after our first, and was also executed on the Mini-Russell (Symbol TF). The market had continued to oscillate around its newly made highs, and after a pullback in price, we began to look for another quick trend reversal, this time to the long side. At 10:37am EST, with our Pace of the Tape indicator as well as other technical indicators we use, showing decreasing selling pressure, we placed an order to go long on the Mini-Russell at 620.4. Our order was executed quickly, and we watched with the utmost concentration on the price action, to see if our first target would get filled (Identify Market Sentiment For Day Trading Futures). After seeing price trade up to, but not execute at our first profit target, we quickly decided that it was time to exit our trade, and ended up closing at a small loss of -2 ticks (4 contracts) for a total of -8 ticks (-$80).

At the point in the morning, all the news had been released, and we were at break-even, which considering the price action today wasn’t too bad at all. Many traders that are in this position make a decision to either continue trading, or stop for the day, we continued. Our third and final trade of the morning didn’t come for about an hour after our previous trade, and this time we looked to the Crude Oil market to provide us with the right opportunity ( Crude Oil Futures Day Trading Video). At 11:49am EST, the Crude Oil market provided us with a just that; after a small rally to the long side, we entered short with our 2-step pattern at a basis of 80.42. It wasn’t long before more sellers scrolled across the ticker tape, and we knew we were in the correct direction of the market; we were able to lock in profits at +4 ticks (2 contracts) before closing our trade, for a total profit of +8 ticks ($80).

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Market Commentary October 20, 2009

We had a good amount of news events today, which of course not only brought more volume to the market, but also made for some interesting trade set-ups. We were able to take three trades today, and all of them came on the Crude Oil market (Symbol CL). The Crude Oil market has been on quite a rally in the past few weeks, and yesterday it actually ended up trading to new highs for the year, above the $80/barrel price level. Today the buyers were not as present as they were yesterday, and early on in the London session, the sellers seemed to take control of price fairly quickly, driving prices into the $79.00 price levels ( Crude Oil Futures Day Trading Video). It wasn’t really until the opening of the U.S equities market when the Crude Oil finally broke out of its channel of 79.50- 80.00. Once the markets opened in the U.S price began to sell off quickly, and it wasn’t long before we were trading in the 78.00 price range again. We were able to go 3 for 3 today in the Crude Oil market, ending our day with a total profit of +$520.00 on 4 contracts.

The first trade of the morning didn’t come until the opening of the U.S equities markets at 9:30am EST, at this time; volume began entering the market little by little. Because price in the Crude Oil market had been consolidating in a 50 cent range, we knew that with added volume, we were able to see a trend change (Sideways Market Day Trading Futures). At 10:14am EST we were able to take advantage of that trend change with a 2-step pattern. We entered the Crude Oil market short, with a basis of 79.30. Once our order had been executed, more and more sell orders came across the tape, and we knew our trade had been placed in the correct direction; we quickly locked in profits of +4 ticks (2 contracts) +8 ticks and +7 ticks on our final contract, giving us a total of +23 ticks on the first trade of the morning ($230).

The Crude Oil market continued to short into the $78/barrel price range, and based off our technical indicators, such as the pace of the tape (P.O.T), we could tell that the selling pressure was slowly fading. We began watching price closing, looking for either a breaker pattern or 2-step to take the crude oil market long (Scalping Futures Day Trading Video). At 10:19am EST we got our chance, after a slight pullback in price, our order was executed long on a 2-step pattern. Our entry price was at 78.86; and we were able to scalp some quick profits of +4 ticks (2 contracts) before getting closed out by our ATM strategy, +8 tick’s total ($80).


Our final trade of the morning also came shortly after our second and yet again on the Crude Oil (Symbol CL). After price had looked to make newer highs, it quickly pulled back on us; giving us little time to react to price action and take a possible trade. So, we waited patiently, and not long after, it looked as if the buying pressure was slowing building up in the ticker tape, we decided quickly to enter the market long off a 2-step price pattern (Price Patterns Technical Analysis Futures Video). Our order was executed at 10:31am EST, with a basis of 78.90, it wasn’t long before we were in the profit, as price rallied strongly into the $79 price level, we were able to lock in profits on all four of our contracts, getting +4 ticks (2 contracts) +8 ticks (1 contract) and our final contract netting us an additional +5 ticks for a total of +21 ticks on the final trade of the morning ($210).

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Market Content October 19, 2009


Today was just one of those typical Monday mornings! A low level of new events occurring throughout the markets and on top of all that, the Chairman of the Federal Reserve, Ben Bernanke, spoke today at 11:00am EST. As history has shown us, the markets tend to be very quite when the Fed Chairman speaks (Identify Market Sentiment For Day Trading Futures). We were only able to take one trade this morning, and it came on the Mini-Russell (Symbol TF). The Mini-Russell didn’t show much price action prior to the opening of the U.S equities market; but once the U.S market opened, sellers entered the market with a strong level of volume, quickly pushing price downward.


The one and only trade of the morning came after the U.S Equities market opened at 9:30am EST. Because Chairman Bernanke was speaking at 11:00am EST, the U.S open at 9:30am EST didn’t show us the usual level of volume it has in the past weeks, and so we made sure we only took perfect set-ups today. At 9:50an EST, after a brief pullback in price action on the Mini-Russell (Symbol TF), we were able to qualify one of our trend continuation set-ups, the Breaker (E-MINI Futures Day Trading Video). With the market looking to turnover once again, we entered the market short at 9:50am EST with a basis of 614.5. Once our stop limit order was executed, we began to watch all of our technical analysis tools to make sure our trade would not result in a loss if it didn’t have to. We quickly realized that the Pace of the Tape indicator (P.O.T) began to turn from green to red, signifying a slowdown in price action. We also noticed that our momentum, via the School of Trade’s proprietary Stochastics indicator, began to curl away from us, signaling that price action might change direction soon. Once we had noticed all of these indications, we decided to exit the trade early at a scratch, +/- 0 Ticks. Even though nothing was gained or lost on our one trade of the morning; today certainly reminded all of our trades to be patient when trading the markets and that preservation of capital always comes first! (Futures Day Trading Account Management Video)

All Of our Trades On The British Pound

Market Commentary October 15, 2009

Well another great day in the markets for the School of Trade! Today was a great testament to how you can apply the James Wave patterns to any market at any time, as long as it had volume. All of our trades today came from the British Pound futures, (Symbol 6B) and for any people who don’t know the contract specifications, it required a $500 margin/contract, and so to trade with 4 contracts like we do in the room, you would need at least a $2000 account (3 Key Components To A Day Trading System Video). Needless to say, our short break from trading the pound, didn’t hurt us, we were able to take all four of our trades today on it, going 4 for 4 with a total profit of +$675.00! So, if you traded with a $4,000 account like we suggest, many of our members had a nice 15% return on their accounts today!



Early on in electronic trading, price action was continuing its uptrend from yesterday on the Pound futures. The trend was further more extended after a wave of European news early this morning, sending it even higher into the U.S equities market open at 9:30am EST. Once price began retracing off its highs, we began seeing evidence of a trend change, based off our technical analysis as well as our proprietary indicators (Identify Market Sentiment For Day Trading Futures). We looked to take a trend reversal trade, with our 2-step pattern, to the short side. At 9:42am EST we entered the Pound futures short with a basis of 1.6241. Our stochastics were already starting to curl over, and we were fortunate enough to catch quite a runner to the sell side, as we were able to take profits at +4 ticks (4 contracts), +8 ticks (2 contracts) and +4 ticks on our final 2 contacts for a total of +40 ticks on our first trade of the morning!


Our second trade of the morning came shortly after the Philly Fed Manufacturing Index figure was released in the U.S at 10:00am EST. The Pound was retracing off its recently made lows, and we were ready to take it to the short side once again. As price began to make a double top, we looked for an entry short, and quickly were able to identify a 2-Step pattern setting up (Price Patterns Technical Analysis Futures Video). We enter short on the Pound futures at 10:12am EST, with a basis of 1.6229 we actually exited the trade early because of buying pressure coming across the ticker tape, and were able to close our trade with profits of +8 ticks!





The third trade of the morning came shortly after the Natural Gas Storage figures were released at 10:30am EST. As the Pound has been pulling back from its highs of the day, it looked to us that it was going to make another rally towards the highs. As we watched our Pace of the Tape indicator, which actually quantifies the speed of the ticker tape, and noticed more and more buy orders entering the market. As the market began to change its trend to the long side, we were patient to wait for a perfect set-up, such as the Breaker (Scalping Futures Day Trading Video). At 10:52am EST our patience finally paid off, as we entered the Pound futures long with a Breaker pattern. After having our order executed at 1.6248 price action rallied even more as buyers quickly entered the market, we were able to take profits at +4 ticks (4 contracts), +8 ticks (2 contracts) and +2 ticks for our final 2 contracts for a total of +36 ticks.




Our final trade came only minutes after our third trade; as we looked to take advantage of the uptrend. As price continued its rally higher, we noticed price had begun to pullback, and we quickly began to qualify a possible James Wave entry to the long side (Swing-High Swing-Low Technical Analysis Day Trading Futures Video). As price action pulled back to our trigger line, we were able to enter in the direction of the trend, the long side, at 10:54am EST. Our basis on the Pound futures was at 1.6250 and it wasn’t long before our first profit target was hit for +4 ticks (4 contracts) and we ended up taking profits once more for an additional +2 ticks (4 contracts) = +24TICKS

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Check out these trades that we took live in the Trade Room.

After a slightly lower volume trading day yesterday, due to the Columbus Day holiday in the U.S, today we looked to see a strong increase in volume throughout most markets (Identify Market Sentiment For Day Trading Futures). We certainly saw an increase in trading volume today, and were able to return more than 10% on our account this morning, going 4 for 4 with a total profit of +$680.00 when trading with 4 Contracts. Let’s review those great trades….

Our first trade of the morning came on the Euro futures (Symbol 6E). The euro futures finally broke through the 1.4800 price level around 6:00am EST this morning, and we looked to capitalize on this rise up, or possibly on the retrace off the new highs (Euro Currency Futures Day Trading Video). We quickly noticed that the highs were not holding, and began to look for a possible entry to the short side. We were able to qualify a Breaker shot at 8:59am EST, and our order was filled at an entry price of 1.4838. With continual selling pressure on our side, we quickly closed our trade with profits at +4 ticks (2 contracts), +6 ticks and +10 ticks for a total of +24 ticks on our first trade of the morning ($300).

Our second trade of the morning came on the Mini-Russell (Symbol TF). Since the opening of the U.S Equities market at 9:30am EST, the mini-Russell began to sell off strongly, finally finding a bottom at 604.0 at 10:00am EST. Seeing that the selling pressure was finally subsiding; we looked to enter into the long side, especially after seeing a decline in the speed of the tape to the short side. At 10:10am EST we entered the mini-Russell based off a Breaker long pattern and our order was then executed with a basis of 605.7. It wasn’t long before a large group of buyers also entered the market, and gave us the opportunity to take some profits from the market at +4 ticks (2 contracts) giving our trade a total of +8 ticks ($80) (E-MINI Futures Day Trading Video).

Our third trade of the morning came more than an hour later, on the Crude Oil market (Symbol CL). Since the beginning of electronic trading, the crude oil market took off to the long side, pushing prices into the $74/barrel price level, even before the open outcry pits began trading at 9:00am EST. Once the open outcry pits began trading though, more volume pushed prices to the short side, and continued into the open of the U.S Equities market. After a short rally into the $74/barrel price level once again, the crude oil market began to pull back, which is exactly where we looked to take our trade ( Crude Oil Futures Day Trading Video). After seeing increasing selling pressure, via our Pace of the Tape indicator (P.O.T ), we entered the market short, with a Breaker patter at 11:24am EST. Our order was executed at 73.19; and we were able to take profits on our trade at +4 ticks (2 contacts) before getting scratched out of our remaining contracts, for a total of +8 ticks ($80).


The fourth and final trade of the morning came on the gold market, (Symbol GC), which also rallied during the hours of electronic trading, and before many currencies and commodities began trading in the U.S, gold was already trading at new intra-day highs of 1069.7. Once more volume enter the market at 8:20am EST, due to the opening of gold trading in the U.S, sellers began to take back some of the gains from earlier in the morning, and by the time the U.S Equities market opened, price seemed to find a bottom at 1056.0 (Gold Futures Day Trading Video). The gold market didn’t stay down for long though, as more buyers began to enter the market, a strong rally looked to be in the making, and we began to identify possible set-ups for entry. At 11:50am EST we were able to get our perfect entry on the gold market with a Breaker to the long side (with the trend). Our order was executed and filled at a basis of 1063.9; where, with more and more buyers entering the market, we were able to lock in some great profits of +4 ticks (2 contracts), +8 ticks and +6 ticks, for a total profit on all 4 contracts of +22 ticks ($220).

Columbus Day Day Brings Slow Trading Day

Market Content October 12, 2009

Today we saw some much lower volume in both the European and U.S trading sessions because of the U.S banks observation of Columbus Day; this not only brought lower volume, but also increased volatility to the markets (Identify Market Sentiment For Day Trading Futures). This of course did not stop us from watching the markets, or from taking trades! We were able to scalp off one trade this morning, with a total profit of +$80.00 when trading with 4 Contracts.


The one and only trade we took today came on the Crude Oil market (Symbol CL). Once the start of electronic trading began early this morning, price looked to continue its trend up from Friday’s price action, possibly trading into the $73/barrel price level. By the time the U.S equities market would have opened for trading today, the crude oil market was trading at 73.80, rising more than a dollar today, without a doubt because of the lower volume in the marketplace.



After 9:30am EST, after a slight pullback, we began to see increasing speed of the tape to the long side, and thought the buyers might be pushing the Crude Oil into new highs for the day, so at 10:08am EST we entered the crude oil market long off a Breaker pattern. Our order was able to be executed at a basis of 73.78; where after seeing a slight increase in the buying pressure, were able to take profits at +4 ticks (2 contracts) before closing our trade with a total profit of +8 ticks ($80) (Scalping Futures Day Trading Video).

Had A Great Week Trading Futures In The Live Trade Room.

Market Content October 9, 2009

Today might have been a typical Friday for the market, but it was certainly not for the School of Trade! Our members and free trial members were able to go 4 for 4 this morning with a total profit of $445.00 to their accounts; that’s a 15% return on a $4,000 account, and brings our weekly return to 66%! (3 Key Components To A Day Trading System Video) The volume was a little bit lighter in the early morning hours, but once the U.S Equities market opened up, we began to make some great trades! Let’s review those trades that helped up close our week with profits!

Our first trade of the morning came on the Crude Oil market, which since the beginning of electronic trading, had stayed in the $71/barrel price range. This range didn’t last for long though, as the open outcry pits began to trade at 9:00am EST, volume entered the market, and pushed prices higher into the $72/barrel price level as the U.S equities market opened. When we saw this occur, we began to look to enter the market, because we noticed, via our P.O.T indicator, that the buying pressure was beginning to slow down. We began to qualify either a Breaker pattern to the short side, or a short term trend reversal in the 2-step to the long side ( Crude Oil Futures Day Trading Video). After seeing price action stall around the 71.50 price level, we looked for a trend reversing trade to the long side, with a 2-step pattern. At 9:37am EST we entered the market long, with a basis at 71.58; we were able to scalp out a few ticks, and ended closing the trade with +3 ticks (2 contracts) for a total of +6 ticks ($60).

On our second trade of the morning, we quickly realized, from our previous trade on the Crude Oil, that the rally into the $72/barrel was not over, and decided to execute yet another trade on the Crude Oil futures (Symbol CL). We looked to enter in the direction of the short term trend, which at the time was to the long side. At 9:42am EST we entered the market based off a Breaker long pattern at 71.69; and were quickly able to take some great profits of +4 ticks (2 contracts), +8 ticks and +4 ticks, for a total of +20 ticks on the trade ($200) (Scalping Futures Day Trading Video).

The third trade of the morning again came on the crude oil market (Symbol CL). After our second trade, the crude oil futures had begun to retrace off its highs of $72.25, and we actually had to wait for a pullback in price in order to get our perfect trade set-up. That perfect trade set-up actually ended up being a Breaker pattern to the long side, yet again. We were able to enter the market at 10:00am EST at 71.92; where buying pressure in the market took over the price action and we were able to take a few ticks from the market before our ATM strategies (Futures Day Trading Account Management Video) closed our trade out for a profit of +3 ticks (2 contracts) for a total of +6 ticks ($60).

Shortly after closing our third trade on the Crude Oil market, we also looked to scalp some profits off the Euro futures as well (Symbol 6E). The Euro futures had really stayed in a somewhat of a tight range for most of the morning, and most of the price action occurred within 1.4700 to 1.4770 (Sideways Market Day Trading Futures). Volume didn’t really enter the market until after the U.S equities market opened at 9:30am EST. While the price had been oscillating, we looked to take it in the direction of the short term trend, which was long. At 10:09am EST we finally got the price pattern we were looking for, with the right about of buying pressure in the market, and we entered long with a Breaker pattern at 1.4744 (Euro Currency Futures Day Trading Video). After price action had broken through one of our dynamic levels of resistance, we were able to take some great profits at +4 ticks (2 contacts) and +1 tick (2 contracts) for a total of +10 ticks on the final trade of the morning ($125)!

Market Content October 8, 2009

Today was another great day for all the traders at the School of Trade. As we have said the past few days, we want all of our traders to be well capitalized, this ensures them the proper amount of margin required to enter the trades we do, and gives them the best chance of making money in the markets. We have always told all our members and guests, the minimum you account value you will want is $4,000, which will allow you to take advantage of all our trade set-ups on all the various markets we trade on a given day (Futures Day Trading Account Management Video). With the amount of trades we took today, and the amount of profits we made, it was only possible because we had a well capitalized account of $4,000. We went 6 for 6 today, making +$1,102.00 on 4 Contracts!! (A 25% return on your account with only a $4,000 balance).

Our first trade of the morning came early, on our old friend the Dax! (Symbol FDAX). Once the London markets opened up at 3:00am EST, the Dax futures took off to the long side after determining a bottom in price at 5700.0. After seeing the increased volume to the long side we immediately looked to capitalize on the quick change of trend with a 2-step or breaker pattern (Dax Futures Day Trading Video). At 3:44am EST we entered the FDAX with a 2-Step pattern long, getting our order filled at a basis of 5709.0. We quickly saw a newly formed line of resistance above us and were able to lock in profits of +5 ticks (2 contracts) before automatically closing our trade out via our ATM NinjaTrader strategy, for a total of +10 ticks on the trade ($185).



Our next trade came on the Dax Futures (Symbol FDAX) as well, after our first trade long on the DAX, we shortly realized the trend was going to continue and decided to enter the market once again, in the direction of the trend. This proved to be the correct decision as we entered the market long at 4:01am EST with a Breaker pattern (3 Key Components To A Day Trading System Video). Our stop limit order was filled exactly where we wanted it at 5722.0, and we were able to lock in profits at our first two targets of +3 ticks (2 contracts) and +6 ticks, before closing the trade out at a profit of +12 ticks ($222).
*Insert FDAX 12-09 401am Picture


The euro currency market didn’t really pick a distinct trend until the opening of trading for currencies and many commodities at 8:20am EST, where it looked that the euro was going to make new highs for the day (Symbol 6E). This wasn’t the case for long though as more volume entered the market closer to the U.S equities open at 9:30am EST, the euro futures began to sell off sharply. After seeing the weakness to the long side we looked to take advantage of this short term trend to the short side, and looked for a possible entry. At 9:16am EST we finally were able to capitalize on the downtrend with a Breaker pattern short, entering the market at a basis of 1.4752 (Euro Currency Futures Day Trading Video). Once our trade was active, we watched as the Pace of Tape (P.O.T) indicator quickly showed us increasing green P.O.T bars, indicating that more and more sellers were entering the market, per the speed of the ticker tape; we were able to lock in profits at all three of our targets for +4 ticks (2 contracts) +8 ticks, and +6 ticks for a total of +22 ticks ($275).

The fourth trade of the day came on the Gold futures market (Symbol GC), which has once again seen new all time highs for the third day in a row! To profit from the obvious long trend we looked for a possible entry later in the morning (Gold Futures Day Trading Video). Patience seemed to handsomely pay off because at 10:08am EST we entered the Gold futures long due to a 2-Step pattern. Our order was executed at a basis of 1044.8 and we quickly found out the trend was definitely our friend in this case, as more buyers jumped into the market long, we were able to close our trade with profits of +3 ticks (2 contracts), +6 ticks and our final contact (our runner) got us an additional +14 ticks for a total of +26 ticks ($260).

For our fifth trade of the morning, we waited for the Natural Gas Storage numbers to be released, as history has shown us increased volatility in the crude markets when the natural gas storage figures are released. Because the School of Trade takes more of a conservative approach to our trading, when we wait for absolutely perfect set-ups instead of just mediocre set-ups, especially on days like today, they seem to pay off. One crucial aspect for all traders to also remember is, when you are up any amount of profit, it is essential to protect your trading account and those profits you’ve made, which is why we wait for perfect trading opportunities, instead of higher risk trades, because protect of capital is our main concern. Or fourth trade of the morning, which came on the Crude Oil futures (Symbol CL), was a perfect set-up in the form of a Breaker pattern, to the long side. We entered the market at 10:42am EST with a basis of 70.88 and were able to scalp some quick profits from the market for +4 ticks (2 contracts) for a total of +8 ticks ($80) (Scalping Futures Day Trading Video).

We noticed that when the Crude Oil open outcry pit trading began, the crude market began to sell off strongly from the mid $70/barrel range, and by the time the U.S equities market had begun trading, it had dropped more than a whole dollar to $69.20 at its bottom ( Crude Oil Futures Day Trading Video). The crude oil market then began to consolidate into the mid $69.00 price level until the Natural Gas Storage figure was released, which sent the crude oil market higher. When watching these market turns occur, we quickly looked to capitalize on this trend continuation trade to the long side with a breaker pattern. At 11:18am EST we were able to execute a Breaker pattern to the long side with a basis of 71.64. Once in the trade, we effortlessly took profit at +4 ticks (2 contracts) for a total of +8 ticks on our final trade of the day ($80).
*Insert CL 11-09 11:18am Picture

Huge Profits In the Live Trade Room Today!

Market Content October 7, 2009

Today was another great day of profits for the School of Trade! With a minimum account size of $4,000, we were able to generate a +20% return for our members today. Overall we took 6 trades total and went 5 for 6 with a total profit of +$880.00, trading with 4 Contracts. Let’s review those great trades….

Our first trade of the morning came on the Euro futures (Symbol 6E), which stayed in a tight range today of 1.4735 to 1.4650, but that didn’t stop us from taking a quality set-up (Euro Currency Futures Day Trading Video). An increase in volume entered the market with currency trading opening at 8:20am EST pushing the price of the Euro futures to the downside, and with that we looked to jump on the quick trend short. At 9:03am EST we entered the market with a short term trend continuation trade with the Breaker pattern at 1.4666. Once our order was executed, we watched as price quickly shot down, due to increasing selling pressure. We were able to take +4 ticks (2 contracts) from the market, for a total of +8 ticks ($100).

Our second trade of the morning came on the Gold futures (Symbol GC). After yesterday’s record breaking day in the gold market (trading at all time high’s intra-day) the trend upwards didn’t stop today, and has continued to trade as high as 1049.7 intraday. Once the open of the U.S equities trading occurred though, the Gold market quickly made a sharp trend reversal short off the 1045 price level, giving us a great opportunity for a short term trend change trade to the short side (Gold Futures Day Trading Video). With the new trend down, we were quickly able to enter the market at 9:46am EST with a basis of 1041.6; enabling us to scalp off a few ticks before our ATM strategy closed the trade for us. We closed with +4 ticks (2 contracts) for a total of +8 ticks on the trade ($80).

As soon as we closed our first Gold trade, we looked to enter in the opposite direction, with selling pressure seeming to hit a wall and buyers starting to step back into the market, we looked for yet another trend reversal trade. This time we looked for our trade in the overall daily trend to the long side. We entered the market long at 9:49am EST with a basis of 1040.7. Because of the way our ATM strategies are set-up, our 2-step pattern (trend reversal) is set to automatically take profit off at +3 ticks (2 contacts), which is exactly what we did, for a total of +6 ticks on the trade ($60) (Scalping Futures Day Trading Video).

Our fourth trade of the day came on the Crude Oil futures (Symbol CL). With the Crude Oil inventories figure being released today at 10:30am EST we were very selective when trading the Crude Oil market this morning, and waited till the inventories figure had been released before we entered that market (Identify Market Sentiment For Day Trading Futures). Today’s price action was really focused around the $71/barrel range until the news was released on its inventories and then price finally broke to the downside shortly before price took off once again to the long side, which is where we looked to capitalize on. At 10:51am EST we entered long with our trend continuation trade, the Breaker. With a basis of 70.56 we quickly realized that a strong level of buyers has entered the market as well, giving us the opportunity to take profits at +4 ticks (2 contracts), +8 ticks and then our final contact netting us an extra profit of +14 ticks for a total of +30 ticks on the trade ($300)!

After a slight pullback in the rally on the Crude Oil futures, we looked to enter in the direction of the trend once again, and we were glad we did! We once again entered in the direction of the short term trend, which in Crude Oil’s case was long, with a Breaker set-up ( Crude Oil Futures Day Trading Video). We entered the market at 11:01 with an entry price of 70.80, we quickly realized that the buyers were not finished, and we were yet again able to capitalize on this with all four of our contracts, take profits at +4 ticks (2 contracts), +8 ticks and on our final contract getting another +18 ticks, for a total of +34 ticks on the trade ($34 ticks on the trade ($340)

Shortly after our previous trade we tried just once more to see if this great rally would continue, but we quickly found out that the buyers had exhausted all their orders, and sellers were about to retake control of price action. We entered the market at 11:05am EST with yet again a Breaker price pattern to the long side, but this time we realized as soon as we entered the trade that it was wrong (3 Key Components To A Day Trading System Video). With our stochastics beginning to curl away from us, we closed our trade at our entry price of 71.26, +/- 0 ticks

More Profits For James Wave Traders.

Market Commentary 10/06/09

Today was another great day of trading for all of us at the School of Trade. An important aspect I’d like to touch upon today is the fact that when you’re trading, it is essential to always be well capitalized. Here at the School of Trade we recommend all of our traders to start out with a minimum of $4,000, this allows them to trade many different markets, from commodities and currencies to stock index futures (Futures Day Trading Account Management Video). With the minimum trading account, we were able to take 2 trades today, and closed our day 2 for 2 with $410 in profits! (10% Return On Account), let’s review those great trades…..

Our first trade of the morning came on the Mini-Russell (Symbol TF). Now, if you remember from yesterday, the Mini-Russell saw some choppy price movement, but the trend was still up overall. Today was just a continuation of that trend, starting with a strong rally after the U.S Equities market opened, amid, with minor pull backs, till the lunch time hours of trading stepped in, allowing it to break into the 600.0 price level. Our trade occurred right after a significant level of volume entered the market at 9:30am EST, with the opening of the U.S Equities market (E-MINI Futures Day Trading Video). At 9:40am EST, after a brief pullback in price, we looked to join the buyers and trade with the trend with a Breaker long. Our entry was at 594.9, and with the stochastics curling sharply to the upside, we were able to use our NinjaTrader ATM strategies to lock in profits at +4 ticks (2 contracts), +8 ticks, and our final contract closed with +9 ticks for a total of +25 ticks on the trade ($250).

The second and final trade of the day came on the Gold futures market (Symbol GC). Yesterday we saw a rather large rally on the Gold markets, rallying from the 1000.0 price level, to 1020.0 by the time the close of trading occurred. Today was not much different either, by the time gold started trading at 8:20am EST the price had already reached 1030.0 and continuing the rally into the lunch hours, with a high of 1045.0 with minor pull backs in price along the way, which we looked to capitalize on. While watching the Gold market to see when our second trade would come, we realized that price had begun to consolidate around the 1043.0 price level; after seeing this we began to look for a set-up to the short side, because it looked as if the buyers were beginning to lose strength (Gold Futures Day Trading Video). At 10:29am EST we took the Gold market short with a breaker pattern at 1039.4. The market quickly sold off sharply as sellers were entering again and buyers were taking profits, we were able to scalp +4 ticks (2 contracts) and +8 ticks from the market, for a total of +16 ticks ($160).

2/2 Today In the Live Trade Room

Market Content October 5, 2009


Today we saw some decent volume in the market, especially for a Monday morning! Early on during the electronic trading session, the Crude Oil market had begun to drop in price sharply, on low volume, but didn’t last long ( Crude Oil Futures Day Trading Video). Once the open outcry pits began trading at 9:00am EST, price started to retrace off its lows back towards $70/barrel. This rally lasted only so long though, with the ISM Non-Manufacturing PMI being released at 10:00am EST and sending the crude oil market lower with sellers pushing it back into the $68 price level. During the morning session we were able to take 2 trades, going 2 for 2 with +$160.00 trading 4 Contracts.


Our first trade of the morning came after the ISM Non-Manufacturing PMI was released at 10:00am EST. Prior to this news event being released we were able to determine the market sentiment by a slowly decreasing P.O.T, as many traders anticipated the news event and were waiting to take positions in the market once it was released (Identify Market Sentiment For Day Trading Futures). Once the news event was released, the crude oil market (Symbol CL) began taking back its rally, with a strong level of sellers entering the market. Deciding to execute our trades with the downtrend, we looked to enter the market short, which we did at 10:13am EST with a Breaker short at 68.78.



Once our order had been executed, we watched our technical indicators closely to determine if our order would be successful. After seeing momentum as well as sellers enter into the market even more, we were able to close out our trade with profits of +4 ticks (2 contracts) for a total of +8 ticks ($80).


Our second and final trade of the morning was taken just prior to the start of lunch time trading for the U.S markets (history shows us a strong level of low volume during the lunch hours, and can be a dangerous time to trade). After the news had been fully released at 10:00am EST, the crude oil market (Symbol CL) had begun to sell off sharply again, and looked to find its bottom around the $68.00 price level. We noticed this bottom had been formed based off of our technical analysis and the use of our 2-step trend reversal trade set-up. With a possible trend reversal about to occur, we watched intensively to see if the price pattern actually set-up (Price Patterns Technical Analysis Futures Video).



Once our 2-step pattern set-up we looked to enter the market long, and sure enough we were given the opportunity at 10:46am EST, with a basis of 68.26. Once involved in the trade, price action quickly broke a dynamic level of resistance we had identified and we were able to lock in profits of +4 ticks (2 contracts) before closing our trade, with a total profit of +8 ticks ($80).