Hidden Benefits of using our automated trading systems for more profit

I’ve been working with new traders for over 10 years, and in the process I’ve learned the most effective ways of helping my clients launch a profitable trading career that gives them the life-changing profits they deserve.

It’s no secret, learning to trade can be challenging, the biggest obstacle being our own emotions.  Our emotions are real, and if you know how to handle the emotional rollercoaster you can achieve trading success a lot sooner than you think.

Let me recall the first 5 years of my own trading career.  I would make money, and then lose it.  I would be scared to trade, would miss the good trades, and then take the bad trades in frustration.  I would fear losing money every day, and that fear is what made it so hard for me to make consistent profits and KEEP them in my account.  One day up, the next day down, and the emotional rollercoaster was horrible.  That all changed when I was able to stay confident in my own trading, and I am going to teach you how to do the same thing.

Our automated trading systems have changed the way we learn to trade.  We use auto-trading to boost our confidence while we learn discretionary trading.

Lets map out the first month of how this all works:

Week #1

The first week you will learn the basics.  The who, what, where, when, and why are covered in our live training sessions, and our technical support team will make sure you have all your charts, automated trading, and indicators working 100%.

Week #2

The second week is always very exciting.  You will see your first automated trades this week that will quickly boost your confidence when you see after the 2^nd week you have already made money.  During this 2^nd week you are trading on demo with our Fast Track Method as well, preparing to trade with discretionary entries in week 3.

Week #3

You are running on all cylinders now.  You have your automated trading system running at full-throttle as you watch fully-automated trading systems earn $2500 in the first month for each contract you trade.

In addition to your fully-automated profits, you also have been taking the live trade calls in our trade room for the Fast Track Method, which will earn you an average of $2500 per month as well.

Week #4

By the fourth week your confidence is through the roof!  You have been watching your automated trading system earn profits for you without a hitch, and at the same time you have learned how to trade the Fast Track and you are earning a total of $5,000usd per contract per month.

By the end of the 4^th week most new trades will add another contract, which effectively doubles your profit from $5,000 to $10,000usd per month…and it grows exponentially from there.

I teach my clients to ‘add more contracts, not new trading strategies’ which means that you will keep it very simple as you scale-up into more size, and more profits, without adding complicated trading strategies.

As you can see, this process isn’t very difficult, it simply uses 2 high percentage trading strategies to combat the emotional rollercoaster and get you earning profits without worrying about losses every day you trade.

After joining as a member you will have every tool you need to be earning a minimum of $5,000usd per month per contract.  By week #5 you will have the opportunity to earn $10,000 per month and keep growing from there.

Frequently asked questions…

Can I learn one at a time?  Do you have to learn them both?

Yes!  You can learn them one at a time, or both.  The benefits of using them both are incredible, but there is NOTHING wrong with using 1 at a time to learn them both, and then combine the two when you are ready.  I will show you how

Each method will earn you $2,500 per month per contract, so the options are easy to use separately.

Do you need any special computers or a large account?

No, you do not need a special computer; a laptop is all you need with a good internet connection.  And No, you do not need a large account; you only need $2500 in your trade account to get started

Do you need to know how to use your computer for all of this?

No!  Our live trainings are specifically tailored for helping new traders, and our full-time tech support team is excellent at logging into your computer and assisting in the real-time set up of your charts and automated systems.  Our ‘concierge set-up’ will do 100% of the work for you, so you can focus on making money with us!

Are there any additional business expenses with this?

No, never any hidden fees.  Our lifetime membership license comes with charts, market data, automated and discretionary system tools and training.  Not only will you get full time tech support, but your membership never expires and comes with all future updates so this is the best way to start learning and earning.  You simply have nothing to lose and everything to gain.

How do I get started?

2011 was a record-breaking year and we’re passing our success onto you in the form of enrollment savings.

Use the coupon code 'profit' and receive a 10% discount on the advanced course. Savings over $400usd

CLICK THIS LINK to enroll in membership, and remember use this discount coupon!

More discounts! 

Schedule a Skype-call with me and save an extra $200 when you register over the phone. 

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The advanced course includes everything you need to start using our fully-automated and discretionary trading system as described above.

Here’s what our clients have been saying about us!

Inside Day Trading Strategy works in any market environment

One of my favorite day trading strategies uses the previous day’s trading range to give me 3-5 high-percentage trading opportunities every day.

I call this the inside day trading strategy, and all you need are some simple tools and a simple plan of attack to make some easy profit with this day trading strategy.

First thing I need is to find the previous day’s trading range.  To do this I set my computer clock to Eastern Standard Time, I open my charts and I look for the high of day and the low of day from the previous day of the week.  In addition, if it is a Monday, I use the trading range from Friday, rather than the short session on Sunday night.  I have developed a specific technical indicator called the ‘JJ-Major Swing’ to help me locate the trading ranges from one day to the next.

Once I find the HOD and LOD from yesterday, then I need to determine where I am in relationship to these highs and lows.  Ask yourself the following questions:

-          Am I above the range from yesterday? 

-          Am I below the range from yesterday? 

-          Am I in the middle of the range from yesterday? 

-          Am I trading around the HOD from yesterday? 

-          Am I in the middle of yesterday’s trading range?

Now that I know where we are in relationship to the previous day’s trading range, I can make some educated decisions in my trading.  Depending on where the price is compared to the previous day’s trading range will tell me how to proceed from here.  Remember, moving from inside day to outside day is a MAJOR transition regarding market personality, and our day trading strategies always need to keep a close eye on the market’s personality for the best trading opportunities.

Looking for more day trading strategies?  Join us as a member to receive live trade room access, all o f our indicators, automated trading strategies, and live trade calls every day from 730am through 100pm est.  

Inside Day Trading Strategywith Price Wedge

Inside Day Trading Strategy with Euro Currency Futures

Inside and Outside Day Trading Strategy

Double-top Day Trading Strategy earns BIG profits

Another incredible day filled with trading opportunities this morning using this simple double top trading strategy along with the dollar index, crude oil futures and Mini-Russell Futures.

 

The day began with a so-called ‘solution’ to the credit mess in Europe.  Meanwhile, the White House is trying to fix this budget mess.  We began the day knowing that we would eventually start to hear news chatter regarding that.

Our day trading strategy for trading the news is simple;  FADE the news, don’t try and trade the news, wait for the price action to slow down, and then reverse, and FADE it!  This simple trading strategy keeps you from chasing after news events, and it will usually put you in a better EMOTIONAL position to execute the trade.  

We also used a double-top day trading strategy this morning to plan our highest percentage trades today.  We had 2 double-top patterns, one major and one minor. The minor double-top was the highs of the price wedge, and that told us that if price dropped lower, we could buy the price wedge lows and price would rise up to test the double-top.  That’s exactly what happened.

By 1100am EST this morning we had ‘faded’ the news @ 845am this morning, we had bought the lows of the price wedge, and re-tested the double-top.  Tally them all up and we earned over 150 ticks together in our live trade room this morning.  The best part…all we did was follow a simple plan.  The plan will SET YOU FREE!

Double-Top Day Trading Strategy; trade called live in our trade room

Did you hear me call this trade live in our trade room this morning? 

"The Pattern on Mini-Russell tells us to buy above 729.0 and hold to re-test the 745.0 area trend line"

How did we know this would happen?  10 years of trading these markets means we know our price action like nobody else.  Come see us in our live trade room to learn how to trade like this.

Questions?  Our team is here to help you get started earning with us every day.  Contact us here to get started as a member.

Trade the News Market Internals update at 12:00ET

Dow +159 S&P +17 NASDAQ +35

***Economic data***

- (CA) Canada Q3 Labor Productivity Q/Q: +0.4% v -0.3%e
- (CA) Canada Oct Int'l Merchandise Trade: -C$0.9B v +C$0.7Be
 - (US) Oct Trade Balance -$43.5B v -$44.0Be
 - (MX) Mexico Oct Final Trade Balance: -$466M v -$466Mprelim
- (US) Dec Preliminary University of Michigan Confidence: 67.7 v 65.8e

- European indices are heading higher late in the euro session, helping start US trading off on a positive note. Leading US indices are up about 1% a piece. The EU leaders summit has unwound more or less as expected, with the 17 euro zone nations and nine of the ten non-euro zone nations agreeing to deep fiscal integration via a new treaty (rather than some sort of inter-governmental agreement). The UK stands isolated, refusing to play nice with its European colleagues on integration, with the competitive position of the UK's financial industry being London's chief concern. EU leaders agreed to meet again in March of 2012 to finalize the new treaty. It remains unknown whether the ECB will help backstop Europe in the interim, or what shape the ultimate treaty will take or even whether euro bonds will be part of the conversation. All in all, get ready for three more months of indecision, and as Finnish PM Katainen put it, this is the "beginning of the beginning of the end of the crisis." Note also that some of this morning's risk appetite is being prompted by unconfirmed reports that China might set up a $300B fund to reinvest its FX reserves in Europe and the US, most likely in real assets rather than sovereign bonds. As of yet no denial of the story has emerged from Beijing, and traders should be keenly aware that this story has a tendency to reemerge whenever markets are feeling a little blue (only to be denied yet again by the Chinese press). In other news, the preliminary University of Michigan consumer sentiment index moved out to its highest level since June, and agricultural futures sank lower on news in this morning's USDA interim world demand forecasts that stockpiles of key grains would be above prior projections in the 2011/12 timeframe. The US 10-year yield is holding right at 2% again, ahead of next week where some focus will return to a bloated supply calendar for the US Treasury.

- The main analog chip maker slashed guidance in releases out yesterday evening and this morning. Semi industry major Texas Instruments cut its prior Q4 earnings outlook in half and trimmed its revenue guidance. Altera deepened its expected Q4 revenue decline. Lattice Semiconductor more than doubled the sequential decline in revenue it expects to see in Q4. All three companies cited broad-based declines in orders across a wide range of markets. Texas Industries indicated that demand for wireless chipsets is holding up, and also said that distributors' inventories are at very low levels. Shares of TXI are up nearly 4% in early trading, while ALTR has come off its lows at the open to trade down a mere 1%. LSCC remains down 4%.

- A diverse range of other firms adjusted their full-year outlook or offered a first look at 2012. Shares of materials name DuPont are down almost 5% after it slightly reduced its FY11 outlook, citing destocking across polymers and certain industrial supply chains that has accelerated during the fourth quarter and some slowing demand growth. Toyota cut its FY11 net and operating profit guidance in half due to the impact of the Thailand floods and the strong JPY. Medical device maker Edwards Lifesciences offered relatively inline FY12 guidance. EW gained more than 2% before the open, although shares in the firm are back to unchanged mid morning. Engineering firm Harsco's outlook was tilted to the downside, and also outlined some non-cash charges to be taken in Q4. Shares of HSC are flat on the day.

- The euro was off its prior New York morning highs as markets continued to digest developments out of the EU leaders' summit. EUR/USD had gained rapidly to test above 1.3430 on the China funding reports, however skepticism crept in and the pair fell to around 1.3360. Just before the US open, there was a wave of official comments as the various Prime Ministers went into a working lunch. There has been a moderately positive tone out of the summit, and it appears that the issue of euro bonds might come up again at the planned March summit.

***Looking Ahead***

- (CO) Colombia Central Bank Monetary Policy meeting minutes
- 11:00 (US) Fed to purchase $2.25-2.75B in Notes

This information was brought to you courtesy of TradetheNews.com, for your free trial Click Here

day trading strategy uses our trade management chart to plan our stops and targets

We use a very unique chart for managing our trades.  All of the indicators come with membership, and you will have the exact chart template to make sure YOUR chart looks and works EXACTLY like mine.

Consider this to be our secret weapon!

Day Trading Strategies for Dollar Index , Euro, Crude, Russell and Gold futures

We begin our day looking for reactions to the ECB news overnight, and we remind ourselves to fade the reations to this news this morning.  So if we see big pops up, we then will sell for big drops down, and vice versa.

*Our day trading strategy this morning uses contact rollover when the volume on the front month we are trading is less than that of the future contract front-month.  We will have contract rollover for the russell and e-mini ES this morning only.  Expect the Dollar Index, Euro, and other markets to roll over on Monday*

We begin our day trading strategy with the dollar index, using its strong correlation to the markets we trade most.  The dollar index is used to find major turning points and the short term trend.  There is no short term trend on this 13 range chart this morning, so directional bias, and we can easily see the highs and lows of the channel and the wedge as the major turning points.  We know that the best trading opportunities will come when the dollar is at major support and resistance, or major turning points.


















Crude Oil Futures failed to re-test the 102.00 highs from earlier this week and now we have a well-defined price wedge which is the most important clue we get this morning.  We also see inside day with LOTS of support trend lines below the PLOD.   We want to buy the lows, sell the highs, and avoid the middle of this price wedge.  if price rises we sell wedge highs, and if price falls we buy the lows.  if price keeps making new lower lows we can sell below 97.13 and then take profit at the next support level below at the highs of the trigger zone.

















Crude Oil 34 range chart shows us many clues that give our day trading strategy a lot more confidence moving forward.  We see the Price wedge and we see multiple double-top patterns, which tells us where the major support and resistance levels are at this time.  If price rises im selling the wedge highs, and if we break above the wedge highs we buy pullbacks up to 99.65 into the trigger zone (resistance) overhead.  If price drops we buy the lows of the wedge, and buying the support levels below it at PLOD 97.59, 97.32, 97.13 and 97.00 are all support we need to buy.  We have the double-top support levels at 96.85 and 96.25 so buying the 96.85 and selling it with a retracement below .65 down to the .25.
















The Euro day trading strategy includes using this price wedge, inside day, and major support levels below us.  Remember the dollar correlation will also be very strong on the euro at all times.  As price rises im selling the highs, price falls im buying the lows, and trying to avoid trading in the middle of the wedge.

















The mini-Russell has contract rollover today, and our day trading strategy this morning uses the double-tops and the price wedge as our most important clues.  As price rises im selling the wedge highs and the double-tops as resistance.  If price falls I want to be a buyer at the lows of the wedge, the Double-Top Support 707.0, the High of the trigger zone at 703.0 and the lows of the trigger zone at 693.0.  As you can see, there is very little opportunity to sell until we get below 693.0 so stay patient looking for the price to reverse off support, and use a 2-step patterns.


















Russell 34 range chart defines our day trading strategy this morning.  We see the short term price wedge so sell the highs, avoid the middle, buy the lows of the wedge.  We are inside the range from Thursday and notice the SELLERS failed below the PLOD just after the day began this morning.  This tells us to expect price to test the PHOD 749.5.  We also see a double-top and that we have tested and held the DT support levels 723.5, 716.0 and this ALSO tells us to expect a re-test of the double-top around 749.5.  As soon as price gets above 29.0 (chart type-o) we will buy pullbacks looking to bring price up to the trigger zone above us, and then up to the trend around 745.0 where we will look to take final profit.  Then SELL the highs of the wedge and bring it back down!

Day Trading Strategies for Dollar Index , Euro, Crude, Russell and Gold futures

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The James' Report:  Day Trading Strategies for Professional Traders

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Around the Globe this morning:

- European equities opened the session broadly lower led by declines in the DAX and CAC-40 indices. Most of the European banks opened the session lower, following comments  by officials related to the EU summit, cautious comments by Moody's on French banks, and some disappointment with comments from ECB President Draghi, which were made at the central bank's press conference. In other news related to banks, on yesterday's session the European Banking Authority (EBA) raised its estimate for the total shortfall of EU banks to €114.7B versus the Oct estimate of €106B. Within the banking sector, Italian financials have outperformed on the session, while Spanish and French banks have underperformed.

- EU released an Official Statement of the Summit agreement which noted that all major economic plans of Euro nations would be discussed in advanced as it must move towards a genuine fiscal stability union. The Rules would be implemented into national laws.Annual structural deficit must not exceed 0.5% of GDP and automatic sanctions to take effect at above 3% of GDP deficit. Measures put in place are for ex-ante debt issuance plans. - Leveraged EFSF would be rapidly deployed and targeted ESM entry by July 2012. The EU would reassess EFSF and ESM cap of €500B in March 2012. Lastly EU President Van Rompuy to present report on further integration in March 2012.

- German Chancellor Merkel commented that important decisions were taken for the Euro and she was satisfied with Summit decisions and stressed that no lousy compromise was made

- UK PM Cameron confirmed UK would not take part in treaty  and would never join the euro. The PM would not present treaty to parliament.

- China Foreign Ministry stated that Beijing has noted that important steps had been decided at the EU Leader Summit and hoped that measures can help to stabilize markets and increase confidence. China reiterated its support for EU efforts to overcome the sovereign debt crisis

- Following the monthly CPI and industrial production data out of China, mining shares in London are trading mixed. As of the time of writing, equity markets are off of the session's worst levels, following speculation that the ECB is buying Italian sovereign debt.

- EU Leader Summit: come up with agreement to prevent future debt buildups, a plan to accelerate the rescue fund and an agreement to meet again in March. No euro bonds nor a bank license for the ESM

- EBA's warns that euro zone banks needed to raise more capital than envisaged at the October summit

- China economic data paints possible picture of interest rate cut with Industrial production at lowest level in two years while CPI comes in less than expected

- China CNY currency declined by 0.5% daily limit against USD for 8th straight session

- The FT reported that Hedge funds are set for the worst year since 2008, and the second worst in 20 years. According to Hedge Fund Research data, the average hedge fund managers lost 4.37% in the year to the end of November, and overall were at a loss in the six of the last seven months. Only in the aftermath of the Lehman collapse in 2008 did the industry fare as worse. Managers including Paulson & Co, Highbridge, Lansdowne and Odey failed to recover double-digit percentage losses for their performance in August and September.

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Today's Economic News:

Our day trading strategies today will depend on the news, and this morning is a Friday with consumer sentiment news so this will certainly be something to pay close attention to.  We begin our day knowing that Friday’s are always about looking for the windows of opportunity.  There will be periods of great volume this morning, but we need to be patient to wait for them.  We begin the day with 830am EST International trade news, which is nothing major, but will be on the radar of traders today.  We then go through the 930am EST US Open, we will grab the Mini-Russell Futures and then head into the major news of the morning, Consumer Sentiment at 955am EST this morning.  Consumer Sentiment will certainly get all the markets moving up or down, and we will be looking for the best price action of the morning session to be around 1000am through 1045am EST.  Be looking for market personality clues after 1045am EST this morning as we expect to see the volume slow down going into the weekend.  Remember that we have the ECB Leadership Summit today, and the same reasons you and I want to finish our week’s early is the same reason the markets slow down early on Friday’s so be careful after 1100am EST today.

As always, we will wrap up the week with your questions in our live webinar.

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Live Trade Room is open, come join us!

Need Help?  Click here for help logging into the Trade Room

I’m always improving this prep, I appreciate your feedback, please post it here!

Price channel day trading strategy using Dollar index and crude oil futures

This morning we began our trading day with a simple strategy.  The dollar index had a bull price channel, was at the lows of the range from Wednesday, and crude was in the exact opposite position, with a bear price channel and at the highs of the range from Wednesday.

 

We used the dollar index to plan our day trading strategy this morning trading futures markets such as crude oil futures, euro currency futures, Mini-Russell Futures, and gold futures.

At 845am EST this morning the dollar index bounced off support and headed higher above the PLOD and that was our signal to get short on markets such as crude, Euro, and gold.  We sold the highs of the price wedge on crude oil futures for over 250 ticks of profit, and our members traded right along with me.

The keys to our day trading strategy success today was knowing how to trade with the dollar index correlation, how to trade a failure below the PLOD, and how to use a simple price wedge pattern.

I look forward to sharing all of these tools and resources with you as a member!

Automated trading strategy using E-mini ES Futures

Automated trading is one of the most exciting parts of my job every day.  As of today we have access to more resources than ever before, and we use the newest technology to test new ideas that eventually become our newest strategies for our members.  Its exciting to be able to earn profit on any market, with as many contracts as you chose.  Let’s review this automated trading strategy together today for the e-mini S&P Futures, the ES.

Today the E-mini ES Futures fully-automated trading took 3 trades, 1 winner, 1 loss, and 1 active trade which I am managing with our discretionary trade-management-chart.  You can see the e-mini ES automated trading strategy does ALL the work for me.  It executes, manages, and even trails my stop if I tell it to.  I provide all of the settings and templates for this with our advanced membership.

The e-mini ES automated trading strategy earned a total of $5,495usd in the last 30 days, which includes only $155usd in commissions.  I love earning $5k and paying my broker $155!

My goals were simple with this automated trading strategy.  I wanted to earn $1500 per month per contract, I wanted low drawdown, and I wanted something that would never over-trade and cost me too much in commissions.  This automated strategy accomplishes all of those goals, and we couldn’t be more excited to be using this auto-trader.

As an advanced member you not only get this automated trading strategy, but you also get all future up-dates, the settings and templates for all the markets we trade, along with our private training sessions to show you how to use it.  To make things even EASIER, our tech-support team will set this automated trading strategy up for you if you need!  It doesn’t get much easier to earn and learn with us every day than using this automated trading system, and I look forward to sharing this great resource with you as a member.

Automated trading strategy with Gold futures

Automated trading strategy with Crude oil futures

Automated trading strategy with Euro currency futures

Trade the News Market Internals update at 12:00ET

Dow -102 S&P -14.5 NASDAQ -22

***Economic data***

- (UK) Bank of England (BOE) leave both Interest Rates and Asset Purchase Target unchanged at 0.50% and £275B respectively
- (EU) ECB cuts the Main 7-day Refi Rate by 25bps to 1.00%; as expected
- (CA) Canada Nov Housing Starts: 181.7K v 200.0Ke
- (CA) Canada Oct New Housing Price Index M/M: 0.2% v 0.2%e v 0.2% prior; Y/Y: 2.5% v 2.5%e
- (US) Initial Jobless Claims: 381K v 395Ke; Continuing Claims: 3.583M v 3.70Me
- (MX) Mexico Nov Consumer Prices M/M: 1.1% v 1.1%e; Y/Y: 3.5% v 3.5%e; CPI Core M/M: 0.3% v 0.3%e
- (US) Oct Wholesale Inventories: 1.6% v 0.3%e
- Natural Gas Inventories: -20 bcf vs. -10 bcf to -15 bcf expected range

- The ECB took center stage in the New York premarket, and though the central bank did cut rates and announce new emergency liquidity measures including eased collateral requirements, investors used the news and more specifically the accompanying press conference as an excuse to offload risk heading into the European leaders summit. Draghi said little to indicate a shifting in the ECB's stance on purchasing sovereign debt, or suggest the idea that ultimately the institution could be forced to serve as a lender of last resort. Equity and commodity markets were holding near unchanged or slightly higher while Bund and US Treasury prices were lower along with the Dollar heading into the ECB press conference. Trends have reversed course since and intensified. The US 10-year yield has fallen back below 2% for the first time this month while the major indices on both sides of the pond are making fresh session lows. Dr. copper has slid 2% back below $3.50, Jan WTI is under $100 again at $98.25, Gold is off more than $35 near $1700 and the Greenback has firmed pushing the Dollar index back to 79. Peripheral spreads in Europe have blown out sending the Italian 10-year yield back above 6.4%, up 45 basis points on the day.

- IBM announced it has made an offer for DemandTec valued at less than half a billion dollars. The acquisition is expected to extend IBM's Smarter Commerce initiative by adding cloud-based price, promotion and other merchandising and marketing analytics to help companies better define the best price points and product mix based on customer buying trends. - McDonalds's reported supersized November SSS sales results that easily topped analyst expectations. The numbers were strong across all geographies pushing shares up to fresh lifetime highs yet again.- The price action picked up during the NY morning as the European central banks rendered rate decisions. The ECB did cut its main refi rate by another 25bps (as expected). The ECB press conference began with the EUR/USD pair moving higher to test 1.3459 after the ECB said it would implement three-year refi operation and ease collateral rules. However, the ECB again only focused on ways to assist the region's banking sector and reiterated its viewpoint that it would not be a lender of last resort to governments. The EUR/USD tested 1.3310 after Draghi's commented that the EU treaty did not permit monetary financing of governments. The ECB again indicated that they were waiting on the EU Leaders to set out a concrete game plan at its pivotal Summit that begins later today.

- The BOE left is key rate and maintained its asset purchase target unchanged at 0.50% and £275B respectively (as expected)- Japan Econ Min Furukawa commented that the European crisis was behind JPY currency strength and sought to make utmost effort with BOJ on JPY currency and wanted an international understanding of its FX stance. The JPY was firmer on risk aversion flows against the major pairs ahead of the EU Leader Summit.

**Looking Ahead***

- 11:00 (US) Fed to Purchase $4.25-5.00B in Notes
- 12:00 ECB's Draghi, EU Pres Van Rompuy and leaders Merkel and Sarkozy to meet in Brussels
- 13:30 (EU) EU-27 Leaders hold First Summit Session in Brussels
- 12:00 (US) Q3 Flow of Funds
- 13:30 (EU) EU-27 Leaders hold First Summit Session in Brussels
- 14:00 (US) Treasury to sell $8.00-8.75B in Notes
- 16:00 (KS) South Korea Nov Producer Price Index Y/Y: No est v 5.6% prior
- 21:00 (CH) China Nov Consumer Price Index Y/Y: 4.5%e v 5.5% prior; Producer Price Index Y/Y: 3.2%e v 5.0% prior

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day trading strategies gold, euro, russell, dollar index futures

The Dollar Index trading strategy uses a negative correlation to give us clues to the best times to execute trades today.  We're looking for the short term trend (if any) along with the major turning points.

The 13range of the dollar index shows us the short term trend does NOT exist, there is no direction bias, and the price wedge highs and lows gives us excellent 'turning points' in the market for us to use as clues.

We want to trade when the dollar index is as major support or resistance, and we want to sit on hands when the dollar is in the middle of the wedge.
















Crude Oil 89range chart shows me the big picture, and the day trading strategy this morning for crude oil will be to use the price wedge and the inside day as our guide.  As price drops im buying the lows of the wedge around the 100.00, if price sits in the middle of the wedge we dont trade, and if price rises im selling the highs of the wedge 101.40-101.94

















Crude Oil 34range chart shows me exactly where this day trading strategy will have us buying at support and selling at resistance.  Avoid the middle, buy the lows and sell the highs.

















The euro currency futures are going to use the same trading strategy as crude oil, except we have the bear price channel as our guide.  Remember the euro is highly-correlated to the dollar index, so use that as your guide.  Buy the lows as price falls, and then sell retracements below the 1.3333.

The Euro 34 range chart shows us the double-top along with the price wedge and the specific locatiosn for this day trading strategy.  We want to sell below 1.3333 and take profit at the major support levels below courtesy of the double-top.  You can sell short down to the support, and then buy at the support, or you can wait and only buy at the support once price has dropped.
















Mini-Russell Futures trading in a narrow trading range, inside the range from Wednesday, so sell the highs and buy the lows of the current trading range.  If price falls im buying the russell lows at 730.0 and then selling a retracement below the 29.4 major support.  Swing traders can hold this all the way down to 661.5 and the day traders will take profit using support levels below us on the faster timeframes.

Day Trading Strategies for Dollar Index , Euro, Crude, Russell and Gold futures

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The James' Report:  Day Trading Strategies for Professional Traders

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Around the Globe this morning:

- EU Leadership Summit Begins

- European shares rose ahead of the anticipated rate cut from the European Central bank due out in NY morning. The summit on the 9th of December is also lifting the shares even though German and French officials have tried to downplay the expectations. 

- ECB is expected to cut its rate to 1.0% from 1.25% as central bank's monetary policy is shifting towards an expansionary phase, even though there have been no plans for bond purchasing. However, traders are eyeing any hint of a European quantitative easing in an effort to contain the crisis.

- Some Europe Central Banks weigh contingency plans for possible Euro Zone

Exits or an entire breakup

- German Chancellor Merkel could call for new EU Summit later in December should the current meeting fail to achieve its goals

- ECB borrowings at highest level since March

- Australia Nov Unemployment Rate rises for the first time in three months

- The price action was limited ahead of the BOE, ECB rate decisions and the start of the EU Leader Summit. The ECB is again expected to cuts its key refi rate by 25bps but the central bank likely to focus on  ways to assist the region's banking sector and not be a lender of last resort to governments.

- The FT reported that European private equity volumes drop to the lowest level since financial crisis. According to Dealogic, the buy-out market in Europe declined to $11.5 billion in the current quarter-to-date, approximately one fifth of the fourth quarter 2010 transaction volume, and the lowest level since the second quarter of 2009.

- Officials at EU summit in Brussels remained at crossroads, as differences remain exposed ahead of the discussions.  German representatives are said to remain unyielding, calling for EU-wide changes to the treaty containing legal requirements. The German government also remained opposed to different possibilities of boosting the EFSF.

- Ambrose Evans-Pritchard looked at expectations for Thursday's ECB meeting. Sources in Frankfurt believe that the meeting will focus on ways to save banks and not states. The ECB could lengthen the maturity on loans to 2 years and possibly relax collateral rules. It expects interest rates to be cut by 25bps to 1%, although such a minor cut might not be enough to slow the contraction in the money supply. With regards to the French/German fiscal union proposal, some believe that the proposal is not enough to give the ECB room to act further.

- The Financial Policy Committee (FPC) instructed British banks to disclose leverage ratios by 2013, two years earlier than expected, per instructions contained in the Bank of England's Financial Stability Report. Currently, banks are obliged to disclose only capital ratios. Note that the Basel III rules require leverage ratio calculations by 2013, and disclosure to investors from 2015. At the moment the FPC has only an advisory role, but new rules will make it the UK's top financial regulation body beginning 2013.

- The Indian Prime Minister was forced to withdraw plans to allow foreign chains to open in India following a fortnight of public protests, and coalition support for the main BJP opposition party to block the move. The plan was suspended until there was a consensus with various stakeholders stated the Finance Minister. Supporters see the plan would transform the inefficient farming industry by creating a proper transport infrastructure, while critics state that the entry of companies such as Carrefour, Wal-Mart would cause the end for hundreds of thousands of family-owned shops which control 95% of the country's £286 billion retail trade.

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Today's Economic News:

Our day trading strategies today will depend on the news.  This morning all eyes are on the jobless claims report at 830am EST today.  Last week we saw reading above 400k for jobless claims, and another reading above that level this week will show signs of deterioration in the jobs market, and the underlying recovery.

We start with 830am EST news, and then move to the 930am EST US Open when we grab the Mini-Russell Futures and then head into our reversal at 1030am EST before our transition into lunch after 1100am EST today.

At 1130am EST the european markets close and we will be looking for personality clues along the way telling us when the morning trading session will come to an end.

We will take all your questions after 1130am EST today for our live open webinar.  We’ve had a great week so far, lets keep it going!

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Trade the News Market Internals Update at 12:00ET

 Dow -19 S&P -5 NASDAQ -16

***Economic data***

- (CL) Chile Nov CPI M/M: 0.3% v 0.1%e; Y/Y: 3.9% v 3.7%e

- (GE) Germany Oct Industrial Production M/M: +0.8% v +0.3%e v -2.7% prior; Y/Y: 4.1% v 3.5%e 

- (SA) South Africa Oct Retail Sales M/M: 0.6% v 0.7%e; Y/Y: 7.4% v 7.5%e

- (CL) Chile Nov Trade Balance: $657M v $837.0M prior

- (CL) Chile Nov Copper Exports: $3.7B v $3.5B prior

- (US) MBA Mortgage Applications w/e Dec 2nd: +12.8% v -11.7% prior

- (PD) Poland Central Bank left rates unchanged at 4.50%, as expected

- (BR) Brazil Nov Vehicle Production: 274.5K v 265.6K prior; Vehicle Sales: 321.6K v 280.6K prior

- (PD) Poland Nov Official Total Reserve: $98.7B v $102.7B prior

- (BE) Belgium Q3 Final GDP Q/Q: -0.1% v 0.0% prelim; Y/Y: 1.7% v 1.8% prelim

- (US) DOE CRUDE: +1.33M V -1ME; GASOLINE: +5.15M V +500KE; DISTILLATE: +2.53M V +1ME; UTILIZATION: 87.7% V 85.2%E 

- European and Asian equities made headway overnight after reports circulated yesterday afternoon that Europe would run both the ESM and the EFSF at the same time, using the approach to effectively increase the firepower available to deal with the crisis. The idea is not new, however the renewed discussions of such a plan ahead of the key summit later this week immediately drove risk on trading. The warm glow felt by all from yet another reiteration of a policy rerun didn't last long, and early on in the European session there were unconfirmed reports that France and Germany still disagreed whether the two bailout funds should be allowed to work side-by-side or not. An unnamed senior German official was said to have told the press that talks in recent days showed some negotiators are not aware of the seriousness of the situation and there is the potential for bad treaty-change compromises being made at the summit. Confidence vanished after these reports, and both US and European equities remain in the red as of writing. Bund and Treasury prices have ticked up while spreads to Italian and Spanish debt have moved wider.

- There have been several notable business pacts among leading companies announced this morning. Martha Stewart Living Omnimedia has apparently given up on its alliance with Macys, agreeing to a 10-year partnership with JC Penny instead. As part of the alliance, JC Penny has acquired a 16.6% stake in MSO for $3.50/share. In response, reports indicated that Macy's was evaluating whether to keep Martha Stewart product lines in stock. Brazilian airline GOL formed an alliance with Delta, involving a $100M investment by Delta. There were also reports that Total would shortly announce that it had bought a stake in Chesapeake's Utica shale operations in Ohio for more than $2B. Back in early November, Chesapeake announced a Utica Shale joint venture with an "undisclosed international major energy company" worth $3.4B. 

- In pre-earnings guidance reports, Monsanto raised its Q1 guidance significantly ahead of a conference presentation today, and also reiterated its FY12 outlook. Monsanto said strength has been driven primarily by the business in Brazil and Argentina, with some contribution from the US and Australia. MON is down 2%. Natural gas producer Spectra Energy gave a solidly in-line preview of its FY12 outlook. SE is down 1%. LCD tech firm Photronics warned that its Q1 profit and revenue would miss expectations due to flagging demand. PLAB dropped as much as 6%, before regaining nearly all its losses. Scotts Miracle-Gro warned that its quarterly loss in Q1 would be steeper than analysts project, due to various market problems. The company reaffirmed its prior FY12 outlook. SMG is up 1%.- The risk-on environment in the Asian and early European sessions helped bolster the euro, driving EUR/USD as high as 1.3450 overnight, before disagreement between France and Germany over the proposal to let the two bailout funds work side-by-side cut down the rally. As seen yesterday, the 1.3350 area provided resistance. Dow -19 S&P -5 NASDAQ -16

***Looking Ahead***

- 15:00 (US) Oct Consumer Credit: $7.0Be v $7.4B prior

- 15:00 (NZ) New Zealand Central Bank (RBNZ) Interest Rate Decision: Expected to leave the Official Cash Rate unchanged at 2.50%

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