Day Trading Videos
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SchoolOfTrade.com and United Business Servicing, Inc. are not registered investment or trading advisers. The services and content provided by SchoolOfTrade.com and United Business Servicing, Inc. are for educational purposes only, and should not be considered investment advice in any way. U.S. Government Required Disclaimer – Commodity Futures Trading Commission. Futures and Options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. CFTC RULE 4.41 – These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or-over-compensated for the impact, if any, of certain market factors, such as liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown. Testimonials may not be representative of the experience of other clients. Testimonials are not a guarantee of future performance or success. No compensation is ever paid in exchange for any testimonials. Testimonials have not been independently verified.
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Crude Oil Breakout +60t ; Failure Trade earns +60t today.
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| Trade Room Worksheet |
This morning in our trade-room we used the easy market personality from Crude Oil to buy a breakout and take profit at the range highs, then followed-up with a short trade to sell it all the way back down. This was a classic example of how we plan our trades every morning at 8:00am EST and then trade our plan until 11:30am EST when the lunch session begins. Each of these trades today was identified with exact entry, stop-loss and profit-target for our members. This was an excellent opportunity for everyone to trade the fake-out-breakout today.
Our first trade today on Crude Oil used our wave-pattern-long to buy pullbacks with new higher-highs just before the markets opened at 9:30am EST. We know that Crude Oil loves to attack the highs of any trading range and then collapse back down, so our day trading strategy was to buy pullbacks with new higher-highs and take our profit at the major resistance overhead which was 87.15 this morning.
Our second trade this morning came after taking a HUGE profit on the first trade of the morning, and now we were looking for the buyers to slow down and show us an easy price-reversal trading opportunity short off the highs. The first attempt to sell short went +10ticks in our direction and then bounced us out at a -10tick stop-loss. We had to wait for another pattern to get short, which we did in our next trade.
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| EXACT Entry Ahead of Time Provided |
Our third trade of the morning was just the beginning of the big move back down. Our third trade used the 21-range trigger-line as the final target because we knew that the wave-pattern-long was going to set up for us on the 21-range chart and we wanted to make sure we grabbed as much profit we could before Crude Oil went back up again.
Our fourth trade this morning came after we watched the wave-pattern-long (21range) failure, with no buyers on the tape, and all sellers showing up. Remember, up to this point we were selling short off the highs of the range and were thinking that the 21-wave-pattern-long would take it back higher to re-test the 87.15. When the buyers didn’t show up at support we knew right away this price was going to keep moving lower, and when the wave-pattern-long failed we got short for our 2nd trade earning over +$600usd.
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| Trading Crude Oil |
Fake-out-breakout strategy for Mini-Russell
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12-11-12
Buying Pullbacks with this simple trading strategy
There is no text for today due to time constraints. Will resume tomorrow.
12-07-12
Day Trading Plan uses Price-Reversal for NFP-Friday Profit
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| Trade Room Worksheet |
This morning we used a simple day trading plan to look for the high-percentage-trades in both Crude Oil and Mini-Russell Futures on a Non-Farm-Payroll-Friday. We earned just shy of +100-ticks this morning in what has always been a challenging day to trade. As always, our day trading plan we created together at 8:00am EST was used throughout the morning trading session to hit our profit-targets.
The day began with a quick prep on how to trade NFP-Friday effectively. We knew this morning that Friday’s are a little different, but a Non-Farm-Payroll-Friday is the day your mom warned you about when you were a kid. There are many professionals that chose the golf-clubs over the charts this morning in fear that NFP-Friday would be too challenging. We knew that a solid day trading plan for a Friday was all we needed to avoid losses and capitalize on the moves we got after the news was released.
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| Mini-Russell Price-Reversal |
We made the ‘lions-share’ of our profit this morning using our day trading plan to trade the Mini-Russell. The Mini-Russell had broken to new highs above the PHOD this morning when we found the buyers failing and a price-reversal right around the corner. We waited to see the wave-pattern-long fail above the highs and then we knew the trade was going to set up short for us to sell the highs. We had discussed this in tremendous detail in our morning prep, and this was our chance to execute the day trading plan we had created ahead of time together with those in our live trade-room at 8:00am EST.
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| Crude Oil Price-Reversal |
We also used our day trading plan for Crude Oil futures this morning, also looking for a price-reversal to sell short off the highs of the range after the NFP news was released. Crude Oil gave us a BIG clue this morning which caused us to avoid the long-side of the market (and thus avoiding a losing trade) when we saw a new higher-high fail immediately and go back lower. We know the wave-pattern failure far too well to miss this big clue to sell short, and we broadcasted this to our members today in the live trade-room so that everyone could participate in the trading opportunities.
We finished up a very profitable week this morning with the same routine, same day trading plan, and same effective execution of that plan as we always do. Every morning we plan our trades ahead of time so that we are prepared, and then we sit back and wait for the trades to come to us. We never predict, we always react. We never chase, we stay patient. We have a day trading plan that has provided us with profitable trading opportunities for over a decade, so we have every reason in the world to keep following it. Our live trade-room will re-open on Monday at 3:00am EST for the London Trading Session and then 8:00am EST for the US-Morning Trading Session. Don’t miss your chance next week to hit these profit-targets along with us!
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| LIVE Account Russell Trading |
Day trading plan helps traders earn CONSISTANT profit
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12-06-12
Crude Oil earns $1,000 faster than you can say SHORT!
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| Trade Room Worksheet |
This morning our members made some easy profit using a simple day trading plan and our specific morning prep to plan their trades ahead of time this morning. Once we had our day trading plan defined at 8:00am EST we were able to sit back and wait for the price-action to move in our direction for our first trades of the morning. Every morning we post our morning prep before 8:00am EST so that everyone can get involved and be ready to trade with us in our trade-room.
Our first trade this morning on Crude Oil was short below 2 levels of support which we defined in the morning prep on our blog. We saw the PLOD and the trigger-zone support of 87.25 as the key line in the sand we needed to cross before selling short. We were correct in our day trading plan and we saw $400 winning short-trade right out the gate this morning!
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| Day Trading Plan for Crude Oil |
Our second trade this morning also was taken with our initial day trading plan when we bought the lows of the range using a bullish AB=CD Pattern. Price had been falling lower for an hour this morning when we found a short term AB=CD Pattern to use as support to take a profit-target for the sellers, and for the buyers to get long. Our day trading plan said to sell the highs, which we did, and buy the lows, which we were now waiting to do. We nailed this second trade long buying the AB=CD Pattern for another $500 this morning.
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| EXACT Entry and Targets called |
As we had discussed this morning at 8:00am EST we were very concerned about the lack of market personality after 10:30am EST this morning, and we definitely got what we were expecting. Shortly after the news at 10:00am EST came out we saw the price-action slow down, and it was very clear that this trading session was over. Why did the price-action slow down so fast? Tomorrow is Non-farm Payroll Friday which means every major money-manager is going to be watching for tomorrow’s news, and they cannot risk trading the day before because they may not get an opportunity to get OUT if the news comes out poorly for their analysis on Friday.
We will get back to trading in our trade-room on Friday morning at 3:00am EST for the London Session, and 8:00am EST for the US trading session.
We look forward to seeing you there!
We look forward to seeing you there!
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| Crude Oil Trading |
How to develop your own day trading plan
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12-05-12
Fake-Out Breakout earns $1,000 trading Crude Oil / Mini-Russell
This morning we got started in our trade room with a morning prep that identified a fake-out-breakout day trading plan and we used this on both the Crude Oil and Mini-Russell futures markets for our members and guests to earn some incredible profits.
Our first trade of the morning came selling the highs of the previous day’s highs on the Mini-Russell. We designed our day trading plan this morning around this fake-out-breakout strategy at the PHOD and by 10:00am EST we were selling short after watching the buyers fail at the highs. This day trading plan was published on our blog during our morning prep at 8:00am EST and we simply focused on following that trading plan. Members earned over $250 on the first trade of the session, great way to start.
While the Mini-Russell was tumbling off the highs we got long on Crude Oil using the same day trading plan with a fake-out-breakout. Crude Oil was trading at its lows which meant we were trying to buy the lows as support. Our day trading plan on Crude Oil was to use the trading range as our guide, and we got long at the lows of the price-wedge for a first trade winner worth over $200. Great way to start the trading day with 2 winning trades!One of the reasons why our trade-room is considered the BEST place to learn and earn with our methods is because of the EASY TRADING OPPORTUNITIES we identify for all of our Advanced members. This morning we identified a Fast-Track Method trade on Crude Oil for over $600 in profit, and also showed our members EASY ENTRY POINTS when they were trading Crude Oil Futures.
It’s VERY easy to see why our day trading plan was so successful today. We have a proven record and we rarely miss a trading day in our trade room. If you’re looking for the most successful place to learn and thrive, with EASY methods for even the newest of traders, you NEED to come join us as a member.Don’t take our word for it, check out all the feedback from our REAL members! 1,000 clients can never be wrong. Don’t waste another minute of 2012 in a boring chat-room; come trade with REAL TRADERS today and take control over your future as a professional trader!
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12-04-12
Gap trading on Crude Oil and Sideways-trading-range on
Mini-Russell Futures
Mini-Russell Futures
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| Trade Room Worksheet |
This morning we saw very slow price-action without any major news this morning on the calendar, but we were still able to make profit using a simple day trading plan that included a PRICE GAP on Crude Oil and a sideways-trading-range on the Mini-Russell.
Our first trades this morning were short on Crude Oil because of the market personality being bearish going into the US morning trading session. We saw the GAP DOWN on Crude Oil overnight, followed by a shift in market personality after 9:30am EST as the sellers left the market, leaving the buyers with an opportunity to take over control.
Once we saw the sellers lose control, the price action got very slow once again and we began to see clues for a potential price-reversal on Crude Oil. We certainly got the price-reversal and this indicated that the GAP we had located on our ‘floor chart’ of Crude Oil was indeed going to be a valid trade to the LONG side. When we decided to get long on Crude Oil it was after using three clues to make the educated decision.
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| Crude Oil GAP 1 |
The first clue was the lack of sellers at the lows. Price slowed down considerably and the sellers kept trying and failing. This clue was the first thing we saw, and it was a big red flag for us to look for the price-reversal.
The second clue we used was the opening range indicator on our ‘floor chart’ we were about to make new higher-highs outside of the opening range, and that told us the buyers were now taking control in the NYMEX pit for Crude Oil. This was our second bullish clue, the break of the opening range.
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| Crude Oil GAP 2 |
The third clue was the BIGGEST clue, and that was from the PRICE GAP. Overnight Crude Oil traded lower this morning, filling the price gap from last Thursday/Friday. With the 2 previous clues all lining up nicely we knew right away this PRICE GAP had the potential to move all the way back up. Our profit-target on the long trade using the GAP day trading plan was the PLOD and the 88.75 area which was where the GAP would be completely filled.
Learn how to trade the GAP
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12-03-12
GAP-Trading on Crude Oil, Sell Highs on Mini-Russell
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| Trade Worksheet |
This morning we began our new month of December with a specific day trading strategy for a Monday. We always have to be patient on a Monday morning as the market personality is typically a little slower than other days of the week as traders come back to their desks. This morning we found Crude Oil moving to new highs and we saw a big GAP in the market from where we left off on Friday, giving us the first clue of the morning trading session.
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| Crude Oil GAP Trade |
We began our day this morning trading Crude Oil Futures and we used three clues to do this. First, we saw the large GAP in price-action from Friday to Monday and that told us there was either a very bullish market personality or we were going to see the price-reversal bring this price-action back down. Our second clue this morning was the trading range we were in on our 89-Range anchor chart. We were at the HIGHS of the trading range, which told us we want to stay away from the buy-side and look to get short at the highs. The third clue we saw was the failure pattern at the highs. We saw lower-highs and lower-lows and then we saw a wave-pattern-long fail on the 21-range chart and we knew immediately we were going to be selling the Crude Oil all the way down.
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| Crude Oil GAP Trade |
The GAP trade on Crude Oil was our biggest trade of the day and it was very easy to see it set-up and enter the trade. First we noticed the big GAP-UP in price. Second, we noticed the sideways-trading-range for the first 2 hours of trading. Third, we saw the trigger-zone below us as a profit-target. All we needed was to get new lower-lows outside of the opening range, and when we got the new lower-lows we were able to sell short using a simple wave-pattern-short for this Gap trade.
Learn to trade the GAP Strategy
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11-30-12
Fake-out Breakout Strategy Earns profit on E-Mini Russell
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| Monthly Totals Trade Room |
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| Today’s Trade Worksheet |
This morning we finished up the week of November with a fake-out-breakout strategy for Mini-Russell and Crude Oil Futures that earned us some decent profit, although the session was plagued by lower volume due to the end of the month Friday.
Our first few trades this morning were on Crude Oil Futures using the fake-out-breakout day trading strategy we defined in our morning prep. Crude Oil was trading up around the highs of a price-wedge, and we were looking for price to make new higher-highs and then fail, giving us the fake-out-breakout short-selling opportunity at the PHOD.
We normally see easy profit when we sell the highs and buy the lows of a price-wedge, however this morning we didn’t see much volatility from Crude Oil and for the most part Crude Oil sat sideways chopping around without much conviction. We took this as a big clue to trade carefully, and we certainly did.
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| Fake-Out Breakout Trading |
We got another chance to execute our fake-out-breakout strategy with the Mini-Russell when we broke above the PHOD and then failed to stay above the PHOD. This gave us a great opportunity to sell short, and we used two different techniques to enter the trade short.
First, our Wave-Scanner software trigger an entry short just after 930am EST on the Mini-Russell and earned over 30 ticks of profit in a very short period of time.
Second, later in the morning we got the selling opportunity we had been waiting for below the swing-low on the 21-range chart and we took that trade short for an addition +30ticks of profit to break even on the discretionary trades for the day. We called this 2-Step Short Pattern ahead of time so that everyone could trade along with us for easy profits no matter what level of trading experience.
This morning was an excellent example of how our fake-out-breakout strategy can be successful even in the most challenging of market personalities. We would have loved seeing more volume and volatility this morning, but we can’t complain, the week was very profitable overall, and that’s all that matters. We go him with new equity in our accounts, we learned a LOT this week, and put some more cash in our pockets with this simple fake-out-breakout day trading strategy.
Fake-out-breakout strategy for Afternoon Trading
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11-29-12
$1300 profit using this simple day trading plan
This morning we had our second day in a row of earning over $1,000 in profits using the day trading plan included in our advanced membership. We opened our live trade-room at 8:00am EST with our Advanced Members and immediately put together then plan for trading today. We trades Crude Oil and Mini-Russell Futures and once again today hit our daily profit-target.
Our first trade this morning was a little different than we normally see from Crude Oil Futures. We began the day with Crude Oil at the highs of the price-wedge we located in our morning prep. We were looking to sell the highs of Crude Oil at 900am EST when all of a sudden the buyers stepped in, took control, and price jumped up to new higher-highs. When we saw the buyers enter the market our pace of tape indicator told us clearly that these buyers were NOT going to be giving up, so we decided to get long with them. This was a great example today of how when the market personality does the exact OPPOSITE of what typically happens we take that as a big clue for the future. We earned over $600 on the first trade of the morning. |
| LIVE Crude Oil Trading |
Our final trade of the morning was another example of our trading plan in action. We had been waiting for the buyers to fail all morning as we kept buying the higher-highs on Crude Oil and making money all the way up. Now around 11:00am EST we see the sellers start to gain some momentum, giving us a chance to sell short following our trading plan selling the highs of the trading range. The amazing thing about this final trade today was the fact that we provided the EXACT entry location, the profit-target and the stop-loss on the trade. This enables ANYONE to participate in this $600 winning trade even without any trading experience.
We provide our advanced members with a trading plan that will fit any market, any timeframe, and any account size. Our trading plans work on futures, stocks, and also FOREX. All we need is someone with the right attitude and a little bit of time to learn the system. Our trading plans make it possible for ANYONE to earn income with us, and we’re excited to share this with you as a member!
Follow this trading plan for consistent profit
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11-28-12
Follow your trading plan for consistent profits
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| Today’s Trading Worksheet |
This morning we got back to big profits with some much-needed volatility in markets such as Crude Oil and Mini-Russell. We opened our trade room today at 8:00am EST and began to formulate our trading plan for Wednesday. By the end of the morning today we earned over 100 ticks of profit using a simple trading plan that we created together, in real-time.
The first trade of the morning came according to our trading plan just as we had designed. Crude Oil was bearish early this morning and our plan said for us to sell retracements with new lower-lows which is exactly what we did to earn our first winning trade of the morning.
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| Crude Oil Trading Plan |
The second trade this morning was also perfectly according to our trade plan, buying the lows of the range at the lows of the price-wedge which is major support and an excellent location to get long. We bought the lows of the price-wedge according to our trade plan, had our profit-target waiting to be filled at the 21range trigger-line resistance but the sellers were too strong and price collapsed resulting in a small loss on the trade.
Our third trade this morning was also according to our trading plan, getting short for the 2nd time in 3 trades after seeing the buyers fail to push higher off the lows of the price-wedge. This 3rd trade of the morning was a big winning trade netting +45ticks or $450 in gross profit on the trade. Once again, our trading plan came through for us, just as it always does.
Simple Trading Plan Earns +300ticks
Develop your own Trading Plan with this strategy
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11-27-12
Range-Bound Market Personality says buy lows & sell highs
(no video recap today)
This morning we opened our live trade room at 8:00am EST with our members and found our favorite markets trading sideways, in a range-bound market. We look forward to days with the market personality trading sideways because it makes for each profit buying the lows and selling the highs of the range. This morning we did an excellent job at locating the range-bound market first and then planning our high-percentage-trades around it buying the lows and selling the highs for over $500 in profit.Our first trade of the morning was a beautiful trade. We had just finished waiting for price to finish its move to the lows of the price-wedge when we saw the momentum turn, speed picked up, and buyers entered the market. Our day trading strategy for a range-bound market is to buy the lows and sell the highs, and we were sitting on the lows ready for us to get long. We bought the lows and took over 40 ticks of profit out of the market on the very first trade of the morning.
The second trade this morning was on the Mini-Russell which was sloppy and considered another range-bound market this morning at 930am EST when we looked for our first trade. We knew the trade short on the Mini-Russell was going to be challenging, with the market personality very inconsistent and the PHOD acting as a price magnet overhead. We saw some decent selling price-action on the tape and decided to get short the Mini-Russell and very soon afterwards I was stopped out for a 10-tick loss on 4 contracts. This one was frustrating because if you look back at the chart we got stopped out by 2 ticks and then price-action proceeded to go and test where our targets were supposed to be. We aren’t going to win on every trade we take, and this was an example of a losing trade that was literally inches away from being a winner.
Our next 4 trades were on Crude Oil Futures, and by 1030am EST we saw the sellers in full control of the price-action. We were looking to trade short this morning at this time because of 2 main reasons. First, we were below the PLOD. Second, we didn’t see ANY buyers on the tape worth getting long for. We ultimately decided this morning that since we were below the PLOD and there weren’t a drop of buyers on the tape that the buyers would fail and the sellers would take over control, which they did. We got short 3 times, not all of them were winning trades considering it was so sloppy today, but we made our money on the way down.By the time 1130am EST came around this morning the market personality was getting worse by the minute, but we still had one more trade to take on Crude Oil Futures. If you recall from our morning prep at 8:00am EST this morning we had identified this market personality as a range-bound market which told us to buy the lows at support and sell the highs at resistance. At this point in the morning session we were trading at the lows of the price-wedge and we were looking to start buying again. Even though we made money selling short on the way down, as discussed in our live morning prep, we needed to be patient and look to BUY the lows. We got our final trade of the morning session just after 1130am EST and earned another 35 ticks of profit.
Overall today was a very challenge price-action day, with very low volume, and what felt like traders on our favorite futures markets still hadn’t come back from Thanksgiving. We will be looking forward to better price-action as the week develops, today was a mess but we made our money anyways. Always a great confidence booster when we can simply follow our trading plan and the rest works out for itself.
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11-26-12
Day Trading Strategy for Trading Ranges Post-Holiday
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| Trade Room Worksheet |
This morning we used a very simple day trading strategy for the trading ranges that often come as result of traders coming back to their desks from a long holiday break from the action. This morning, a Monday, we got back to business and took 2 trades on our live account trading Crude Oil Futures.
The first thing we did today was get back into our routine like we always do. When we begin a new week sometimes it can feel as if the wind is in our face, but moments after we get into our daily routine we often feel as though the wind is now at our backs. It always seems like we lose a little bit of the ‘rhythm’ of the price-action when we go away more than 2 days, and today we wanted to get back to the routine and get the ‘wind at our backs’ so we could make some profits. No matter which day trading strategy we are using, we always treat Monday the same.
Our first trade this morning was a short position on Crude Oil after we saw the buyers failing to push new higher-highs above the PHOD. When we see price trading around the PHOD we always look for selling opportunities below, and buying opportunities above. In this morning’s market we were below the PHOD selling opportunities we were selling short. We found that Crude Oil was trading in a narrow sideways trading range, selling opportunities all we needed was price-action to make a new lower-lows selling opportunities we could sell short. We got short just after 900am EST and took $200 in profit from the market. This trade was called LIVE, ahead of time, with exact entry, stop-loss and profit-target for all of our members to trade along.
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| Live Trading Crude Oil Futures |
Our second trade occurred an hour later, we watched as price made new lower-lows and then set up once again for another wave-pattern-short. We were confident about this trade as well, however, the news at 1030am EST was released early, and when it came out early it got the market moving a little inconsistently and bounced us out of our short position. This was frustrating to see this short trade go without us making any profit on the trade, but we had no real choice after the news came out and bounced us out fo the position. We lost a few ticks on this trade, but certainly not enough to put us anywhere but in the GREEN on the day. We aren’t done yet; this day is JUST getting started!
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11-21-12
Double-Top and Price Wedge make for easy profits!
This morning in our live trade room we were very successful in finding the high-percentage-trades using a simple double-top and price-wedge day trading strategy. We traded Crude Oil Futures this morning and took two trades long that were both winning trades called ahead of time with exact entry, stop-loss and profit-target in our live trade-room.
The first clue we saw from Crude Oil this morning was a price-wedge on the 13range chart timeframe. This price-wedge gave us a BIG clue for market personality and we always know that the lows of the price-wedge are always a great place to buy. In addition to the price-wedge, we also knew that the bullish price-channel told us the buyers were stronger than the sellers, so buying at the lows of the price-wedge was an easy trade to take.The second clue from Crude Oil this morning was a double-top price-structure. Most new traders would assume that a double-top would tell us to be a SELLER, or that the market personality is bearish, however we disagree in our trading strategy. In my opinion, a double-top tells me to buy at support, while a double-bottom tells me to sell at resistance. We located the double-top with ease this morning and when we did it gave us major support to use along with the lows of the price-wedge.
When you look at these two trades on Crude Oil this morning it makes perfect sense to buy the lows of the price-wedge, which we did twice for an easy profit in our live trade-room. Don’t forget that tomorrow, Thursday, is Thanksgiving in the US, our live trade-room will be closed Thursday and Friday this week, re-opening on Monday at 3:00am EST for London, and 8:00am EST for US trading session.
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11-20-12
$1,000 Profit in 60-minutes day trading Crude Oil Price Channel
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| PRICE CHANNEL TRADING |
This morning we made some incredible profit in a very short period of time using a very simple day trading strategy using a price-channel that we defined during our morning prep at 8:00am EST with our members in the trade room.
The first step to our success this morning was identifying the market personality of Crude Oil. We easily found a bearish price-channel along with an AB=CD Pattern that gave us easy clues to our trading. The final clue we used today was the inside-day price-structure with the PLOD as the main profit-target for short-selling.
Crude Oil had been moving lower as of 9:00am EST this morning, coming off the highs of the bearish price-channel which started on Monday. We saw this as a good sign that Crude Oil futures would keep falling all the way down to the levels it began at on Sunday evening. We also saw the PLOD well below us this morning and used that for our final profit-target while selling short.
Our first trade came at 10:30am EST today when we finally saw new lower-lows in price-action on Crude Oil and it was an easy wave-pattern-short to get into. We used precise trade management with a profit-target at the lows of the price-channel to learn +59 ticks ($590usd) profit, or a 5.9% return on a $10,000 trade account.
Our second trade came at 11:00am EST after taking a big profit on the first trade it was very clear that the sellers were in control so we got back into the short position by using tape reading and our pace-of-tape indicator to tell us EXACTLY when to re-enter the market short. We used proper trade management on the second trade to lock up another winning trade, this time totaling +44ticks or a 4.4% return on our $10,000 account.
As you can see by our results today, you do NOT need to spend all day watching your charts; in fact, today’s profit was earned with 30-minute morning prep, and then a total of 30-minutes of trading. Altogether this morning took 60-minutes to do the complete prep and take profit on our winning trades.
· One of the easiest price structures to find on a chart is a price channel
· Bullish Price-channel helps earn Crude Oil and Mini-Russell Profit
· Dollar-Index uses a price-channel for high-percentage-trades
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11-19-12
Crude Oil Day Trading – Buy Pullbacks for Breakout Profits
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| Buying Pullbacks |
This morning we used one of our favorite day trading strategies for ANY liquid market, which includes buying pullbacks.
We call this the ‘Wave Pattern’ in our live trade room, and this pullback strategy can be used on any market and any timeframe, even FOREX. We earned a quick 25-ticks in profit this morning on 1 trade using this strategy, and we will show you how to trade this too!
How do pullbacks work? The first thing we need is for a breakout, which means we need new higher-highs or lower-lows in price-action. Once we get the breakout we look for the fake-out-breakout which occurs when that new breakout fails and price returns to its original location. Assuming the breakout continues we then will look for price to pull-back for us to enter long.
What is the entry trigger for buying a pullback? Once the price ‘pulls back’ from the new higher-highs we are waiting for the price to test the trigger line (thin yellow line on my charts) and then we look for momentum and price-action to confirm the entry. The entry uses 3 simple technical indicators. First, I’m looking for my trigger line to be tested. Second, I need momentum to be oversold for a long, or overbought for a short position. Third, I want to see speed increasing on my pace-of-tape indicator to confirm the market personality is moving well at the time of entry. Once these three technical clues confirm I use either a buy/sell stop or a limit order to enter the trade.
What is trade management for a pullback trade like this? Our trade-management chart provides us with easy ways to properly manage our trade every time. First, place your stop-loss at the most recent swing-low for a long trade, or swing-high for a short trade. Second, your profit-target needs to be placed at the swing-high for a long, or the swing-low for a short trade. We can also use our trade-management chart for this trade to use multiple profit-targets allowing us to scale-out of the trade, or you can simply use one profit-target to get all-in and all-out.
Can I trade every pullback trade that I see? No, you cannot take EVERY pattern, you must know where and when to apply this day trading strategy. For example, I do NOT want to get long at the highs of a trading range, or when momentum is overbought. The MOST important thing to remember before you take your trade using pullbacks is the SPEED. Our pace-of-tape indicator has all the clues you need to know if this next wave-pattern will be a profitable trade.
Buying pullbacks day trading strategy
Buying Pullbacks & Selling Retracements are easy if you have these rules
Best Way to Buy Pullback or Sell Retracement
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11-14-12
Sideways Ranges on Crude Oil, Price Channel on E-Mini Russell helps earn BIG PROFIT
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| Joe’s Trading Worksheet |
We finally saw decent price-action this morning in the US morning session in our live trade room after 10 days of nothing but slop and chop during the US-Election. It felt like traders took a vacation after the election the way the price-action and market personality slowed-down and gave us little to work with the past week. That didn’t last very long, today we got back to printing money again!
This morning we got back to making BIG PROFITS in our live trade room with 2 of our favorite futures markets, Mini-Russell and Crude Oil Futures.
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| Crude Oil Sideways Range |
Crude Oil began with a very easy-to-see sideways-trading-range which was also inside the range from Tuesday and within a very narrow price-wedge. This was a PERFECT example of a range-bound market this morning on Crude Oil futures and we knew it immediately. Every morning we perform a very detailed morning prep, and this morning we drafted a plan that involved buying the lows and selling the highs of this specific trading range. Sure enough, moments after the markets opened Crude Oil tested the highs of the range, and we were waiting to sell it short.
We earned just shy of $800 day trading Crude Oil Futures this morning in our live trade room, and we provided the exact entry location, stop-loss and profit-target to our members!
The Mini-Russell was in a much different market personality this morning, moving lower down to the major support at the lows of the bear price-channel we identified on our ‘anchor chart’ in our morning prep. With price moving lower we knew two things would be critical; first, we wanted to be short by using our wave-pattern-short to get into the trade. Second, we needed to be very careful not to sell directly into the lows of the range. Our biggest concern this morning was to avoid forcing trades into the lows because it would most likely be very challenging to get price to break all the major support below us.
We didn’t need to wait very long, the Mini-Russell gave us an easy wave-pattern-short on the 21-range chart almost immediately and we nailed the trade short for a MONSTER winning trade.
We earned over $1,100 day trading the Mini-Russell this morning and we provided our members with the exact information they needed to be successful along with us.
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| Joe’s Ninja Trader Confirmation |
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11-01-12
Day Trading Crude Oil Inventories +50ticks
This morning in our live trade room we had a lot of economic news to work with, and most of the morning was spent almost paralyzed from all the action in the news that the market personality was somewhat challenging to find easy high-percentage-trades between each event.
This morning we developed a simple day trading strategy for trading Crude Oil inventories, which meant that we need to be prepared for the 11:00am EST news report. After the Crude Oil Inventories were released we listened closely on our live news feed and heard that Inventories had come out lower than estimated, while the demand was higher than the previous week’s report.
How did we use Crude Oil Inventories to make our biggest profit of the day? First, we understand that inventories can always be interpreted a little differently depending on WHO is reading this news. For example, inventories being LOWER could mean there is too much supply, while at the same time it may be lower because of the higher demand. Depending on how you read this report you could determine this to be bullish OR bearish.The second thing we listened for today @ 11:00am EST was the demand aspect of this Crude Oil inventories report, which is released 10 seconds after the headline inventories are released. This demand report is only available on select news feeds, one of which we use in our live trade room, and when the demand number was reported HIGHER we immediately knew that price would react bullishly.
With demand higher, and the inventories lower, we could assume that traders would read this as bullish, and when price made a new higher-high, breaking out of the trading range we had been trading in all morning, it was easy to buy pullbacks all the way up to the PHOD for a final profit-target and a $520 winning trade on Crude Oil Futures.
Our first trade this morning was on the Mini-Russell, my favorite stock index futures market (E-Mini S&P is a close second), and that got the day started easily for us with over $400 in profit. The Mini-Russell was testing the highs of its range, where we will ALWAYS look for SELLING opportunities first. This morning, however, there were no sellers to be found and when the buyers stepped back in we knew immediately that we needed to buy the Mini-Russell because it was going to try and go higher. Yes, we had to look for the sellers FIRST, but whenever we see something NOT happening that ALWAYS happens we know there is a move coming that we want to take advantage of, and this trade on the Mini-Russell was a perfect example of this.We wrapped up the morning trading session here in the US with +$800 in profits, ultimately all coming from two large winning trades on Crude Oil and Mini-Russell. We finished up the morning session a bit slowly today because of the highly-anticipated Non Farm Payroll report on Friday morning.
This after we are expecting to sell the highs of the range on the Mini-Russell, Crude Oil and gold, while looking to buy at support on the euro. We will be trading with our members this afternoon until 4:30pm EST.
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10-31-12
Happy Halloween! Previous Highs and Lows were crucial to our success today!
This morning we got back to our desk and got back into the futures markets after a day off on Tuesday in the wake of Hurricane sandy. We didn’t wait long to start making profits again, trading 3 different markets Crude Oil, Mini-Russell, and the Euro Currency Futures. Our day trading strategy can be applied to any market, and used on any time-frame, which is why our members are so profitable.  |
| Euro Short Trade |
Our first trade was selling the previous high of day on Crude Oil this morning after the buyers had failed to push price higher. This short position quickly failed, which led to our reversal position when the buyers pushed price back above that same previous high of day. The PHOD is always an exciting price level we use to earn profits, and we can apply this day trading strategy to any market we chose.
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| NT Control Center |
Just before we opened the US markets at 9:30am EST we had a chance to sell the Euro in the same day trading strategy we used for trading Crude Oil. We saw the buyers fail at the previous high of day, and when we looked at the Dollar-Index moving higher above its own previous LOW of day we used the negative Dollar-Index correlation to make an educated decision and we took the short trade on the euro for our biggest winner of the morning session, earning over 20 ticks and $300usd.
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10-26-12
BAG of MONEY fell in our laps today, Crude Oil, Russell, Euro and Gold Futures Trading
This morning we executed a very simple day trading strategy which took into account Friday’s market personality along with what we expected to see from the GDP news and Consumer sentiment. We traded some of our favorite futures markets, including Crude Oil, Gold, Mini-Russell, and the Euro currency futures.This morning started off with a great first trade; buying the lows of a very simple price-structure we call a price-wedge. Some traders may call this a triangle, either way you slice it, we know exactly where the high-percentage-trades will occur when we see a price-structure such as this. Crude Oil started the morning at the lows of the range, just above the big-round-number of 85.00. It took less than 10 minutes for price to move from the lows, all the way to the highs, and we got the day started with a first-trade winner worth 20 ticks.
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| Live Trading Crude Oil |
Our day trading strategy got really easy after the first trade winner on Crude Oil buying the lows. Our next trade we got short at the highs, called the trade LIVE in the trade room, with exact entry, stop-loss and profit-target, and took a MONSTER winning trade selling off the highs of the same price-wedge structure.
We finished this week with everyone in our trade room making profits this morning, and we look forward to another profitable week of trading next week in our live trade room, so don’t miss this opportunity to join as a member and profit alongside our professional trading community.========================================================================
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10-25-12
Triangles, Wedges, High Percentage Trading Profits
This morning was one of those days every member of SOT dreams about, while everyone else has nightmares over. Today we opened our trade room at 8:00am EST with sleepy market personality and sideways trading ranges. Most new traders would look at this market personality and stay away, maybe even grab the golf clubs and take off for the morning, but not the case for the professional traders in the SOT trade room.This morning’s sideways-trading-ranges made for easy profits, but you needed to know how and when to trade them. It’s very easy to fall victim to buying and selling at the wrong times, or sitting in a trade that’s going nowhere when it got slow this morning. Our day trading strategy for a sideways-trading-range is very simple, buy-the-lows at support and sell-the-high at resistance.
This morning our two trades were on Crude Oil Futures, selling short below a broken bullish price-channel, and then after seeing those sellers fail we bought the lows of the very same price-channel. Both of these trades were quite sloppy, and only made about 20 ticks on the two. We got a big clue from our 89range chart when we saw the wave-pattern-short trigger, which is why we got short, and the direction was correct, but the market personality made it hard to pull profit out of the market until later in the day.
The Mini-Russell was our big winner on the day, and it always seems to play out like this. When Crude Oil is exhausted and sloppy the Mini-Russell seems to always come to the rescue, and it sure did today! We found some easy high-percentage-trades on the Mini-Russell using 2 distinct price-structures. First we found the Inside Day, with price-action inside the range from Wednesday. This is a big market personality clue for a range-bound market. Second price-structure was a price-wedge, which has always been my favorite price-structure for many years. In my opinion, when you combine these 2 price-structures at the same time you have a serious recipe for day trading success.The trading plan was simple for the Mini-Russell; sell-the-high at resistance and buy-the-lows at support and we used the key levels we defined TOGETHER in our trade room to plan our trades so that we could simply wait patiently to trade our plan. We started by selling the highs of the price-wedge, and took a MONSTER WINNER for +59ticks all the way to the lows. We then bought the lows of the price-wedge for an additional 25 ticks of profit.
As we stand right now, this afternoon’s trading is going to most likely give us many more high-percentage-trades using these simple price-structures from the Mini-Russell. Don’t miss the action in our trade room for the afternoon session with our members!
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10-24-12
FOMC Day Trading Strategy; Patience ALWAYS Pays
Today was one of the most important days of the week for traders, FOMC Day is a big deal for many different traders, and this morning we planned our day early, and then executed our plan with confidence.The first two trades this morning were on Crude Oil Futures. We had identified this market personality as a range-bound market using the 30-minute and 21-Range charts. The day trading strategy for sideways markets such as Crude Oil this morning is to buy-the-lows at support or sell-the-high at resistance. When price dropped to the lows of the range this morning we earned over 45 ticks of profit on 2 trades buying at the lows.
Later in the afternoon trading session the markets were very quiet, so we had to wait a while for our first trading opportunity after lunch. Our patience always seems to pay off on the Mini-Russell (we’ve made almost all our money after noon this week) and when the Mini-Russell broke to new lower-lows we were suspicious of a fake-out-breakout and that’s exactly what happened. Called live in our trade room, we provided the EXACT entry location for our members, and then left our profit-target at the highs of the range for a nice end of day winner.
Today was definitely the most challenging price-action we’ve seen in weeks, but for FOMC Day it wasn’t all that bad. We will be back to our trading desks on Thursday at 730am EST for our morning prep, and then opening our live trade room at 8:00am EST for live trade calls as usual.
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10-18-12
Crude Oil day Trading Strategy earns +100t even after 2 Stop Losses
This morning we began our morning prep at 8:00am EST and saw immediately that Crude Oil wanted to go lower. We had a few easy clues for us to get short; first, the news at 8:30am EST from Jobless Claims was bearish for Crude Oil. Second, we were trading at the highs of the bear price-channel, and third reason was the previous low of day from Wednesday.
Our first trade short today on Crude Oil Futures earned us over $600usd by using a simple wave-pattern-short to get into our position at the best time, with the smallest stop-loss and the widest profit-target. We took profit at swing-lows and the price-channel lows on the way down for an excellent way to start our day!Now that we had price all the way to the lows of the range we waited to buy-the-lows at support which led to 2 losing trades. The first trade long was a 13-range wave-pattern-long failure, which we also called a 2-step pattern long. We got into the trade long, all signals fired off, but the market personality didn’t want to get moving higher. We quickly got out of this first long trade BEFORE we got stopped out, only to see price flutter higher after what would have been a full stop-loss. We cut our losses early on that first trade and it saved us some cash. The 2nd trade going long was almost the same trade, but on a slower timeframe, the 21-range. Under normal conditions the 2-step will work out when the 21-range is broken, but this morning was clearly all about the sellers. The 2nd trade long also was a loss, and when that occurred we knew immediately that the sellers were the only traders we wanted to trade with until something changed.
We followed up those 2 losses to the up-side with a wave-pattern-short on the 21-Range chart of Crude Oil. After seeing the buyers fail 2 times in 20 minutes at a VERY strong support level (AB=CD Pattern, price-channel, range lows) we knew the sellers would need very little help to push it lower and we quickly got ourselves out of that hole with another +50tick winning trade.The morning session was pretty sloppy this morning, and as we go to lunch we have a wave-pattern-long above the PLOD we are in and hoping we can get some more profits from this market before Crude Oil closes at 2:30pm EST and the Mini-Russell at 4:15pm EST.
Don’t forget! As a member you are given all-access to our live trade room from 8:00am through 4:30pm EST every day the markets are open! As a trial-member you can come in and see how we do things from 8:00-11:30am EST. We look forward to seeing you all there with us this afternoon for the close!
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10-17-12
+100ticks in 90-minutes? Our Morning Prep made it happen!
This morning we had one of the most profitable Wacky Wednesdays of our career, and the price-action got us started early today and never looked back.
Our initial morning prep at 8:00am EST this morning identified high-percentage-trades on 4 different markets, and we took our pick on which ones we wanted to trade. All 4 of our markets this morning made us money, which makes it easy to see why our members are so successful.
The first clue we used this morning was trading Crude Oil using a bullish price-channel. When price broke to the lows of the price-channel we waited for the sellers to slow down, the buyers to pick up the speed, and then we looked for the entry pattern to take the trade. In and out we earned +43 ticks on the first trade of the day. The BEST part of this trade was that we called the EXACT entry location, stop-loss and profit-target for everyone in the room BEFORE the trade was executed. This made it very easy for even the newest traders to profit with us.
The 2nd trade today was on the Mini-Russell which was trading higher, above the PHOD, so we knew we were bullish and wanted to keep buying pullbacks using the wave-pattern-long. We didn’t have to wait for long to get into this winning trade, and once again we called the exact entry location, along with stop-loss and profit-target well before the trade was executed. Everyone made money on this Mini-Russell trade, hope you were in the room with us for the profits!
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10-16-12
Crude Oil Strategy uses Channel, Zig-Zag, and PHOD to earn short-selling profits
This morning we quickly identified a bear price-channel day trading strategy for Crude Oil futures and waited patiently for the price-reversal at the highs of the day. Today’s day trading strategy for Crude Oil is defined our Advanced Course, and our members were ready to profit from it with us today.The first trade of the day was called AHEAD of time, with EXACT entry point, stop-loss and profit-target. We provide the members of our trade room the exact trade entries they need to reinforce their learning process, confirm they are doing everything correct, and to help prove to our trial-members that this method works on ANY market, ANY timeframe, and for ANY trader.
The first two trades today used the combination of a bearish price-channel, a zig-zag pattern, and the PHOD failure. Three big clues to get short and we certainly saw this move coming a mile ahead of time. This was another example of the effectiveness of this method, which you will learn as a member.
Our morning session ended a little early today with the market personality slowing down considerably, but we’re not worried, we took our money out of Crude Oil and Mini-Russell and now we wait for the afternoon session to get back in the action!
Trial-members are welcome to attend our live trade room M-F from 8:00am through 11:30am EST. Our trade room is open all day for members, and very soon we will be expanding into the London trading session opening at 3am EST. More to come on that soon!
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10-15-12
Monday Morning made us WAIT for +130ticks Profit
This morning was a true test of our discipline this morning to follow a plan patiently, not falling victim to our emotions as the day opened up VERY slowly. Today was the first day of OPEX, and even though Mondays do not warrant much concern (wait till we see Wednesday, yikes!) we knew that my day trading strategy for a Monday is always the same. Today we did a great job staying patient and waited for the market personality to tell us when the best times would be to trade.
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| Crude Oil Chart says SHORT |
Our first analysis on Crude Oil futures this morning told us the sellers were in charge, and they were, so we quickly tried to get into the trades short this morning. Our trades short didn’t make very much profits, seeing very sloppy moves to new lower-lows only to have the sellers then disappear and the buyers would move price back higher. Think of a slinky going down a flight of stairs, but bouncing off each step as high as the step before it. It was a challenge to stay in the trades today, even though we knew where it was headed.
Our money was today buying the lows of the range, which we had to really wait patiently for. Later in the morning we found ourselves with some small losses, small winners, and the only person making money was our broker, so we easily decided to open the floor for questions and head into our Members-Only training.
Later this afternoon we made ALL of our profits. We got long on the Mini-Russell around the PLOD which is always a great high-percentage-trade, and then later bought the lows of the range on Crude Oil for over 100 ticks of profit in a matter of 45 minutes before we saw Crude Oil close.
It’s very easy to see the wave-pattern-long on the 21-range chart, and even though we missed a little bit of profit during our lunch-time training session from 1130-130pm EST we quickly made some profits on the high-percentage-trades that came our way later today before Crude Oil closed up at 230pm EST.========================================================================
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10-10-12
Breakout Trading Strategy helps earn our daily profit goals
This morning we hit our trading goals in the first 60 minutes of trading, helping everyone in our live trade room earn their 30-ticks per contract before the day even got warmed up! This morning we found a range-bound market and traded it profitable, however, it then turned into a breakout market so we changed our plan to accommodate very bullish market personality before lunch, and bought pullbacks using a simple breakout trading strategy.Our first 3 trades today were the easiest we took all week, earning us over $600 trading profits in a matter of 30 minutes. We began the day with a range-bound market strategy that told us exactly what to do, all we had to do was wait for price to come to us, which it did. We sold the highs of the range on Crude Oil for 3 winning trades to kick the trading day into high gear!
Later in the morning we saw evidence that the range was going to try and breakout, and it did. How did we know we would see a breakout? We were looking for a short trade at the highs of the price-wedge when we noticed the sellers apparently had left the building, only leaving buyers at the highs. We used our Pace of Tape Indicator and Reading Tape to make an educated decision to buy as soon as we got new higher-highs, and this decision paid off handsomely.
This is as easy as 1-2-3. The trades today were called according to our simple day trading strategy we teach to our Advanced Members. Step 1 today was to find the price structure, and that told us exactly what the high-percentage-trades would be for the day. Step 2 was to stay patient and wait for the price to come to us, never chasing the trades, and focusing on looking for a pattern before we enter a trade. Step 3 completes the process, looking for the entry trigger on our charts and taking the trade with confidence.========================================================================
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10-09-12
Range-bound market personality helps us earn +125ticks
This morning we identified range-bound markets in most of our favorite futures contracts, and we used a simple day trading strategy to capitalize on it for over 100 ticks of profit.
We began the day knowing that it was a Tuesday that felt like a Monday, and when we noticed there was almost zero news this morning we prepared mentally for a slow day in the markets. We all know the feeling of sitting at your desk, wondering how long you’ll need to wait to get the next high-percentage-trading opportunity, it’s very easy to force trades and put yourself in a losing position before the day really gets started. Bottom line, today we knew patience would be the key.
This morning the range-bound markets that we first identified didn’t exactly play out as they typically do. If you’ve seen our trading methods before you know how much profit we make when we buy-the-lows at support and sell-the-highs at resistance, but today was a different story. Today we took a lesson from the market personality and listened to what it was saying.
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10-05-12
Crude Oil said ‘SHORT’ we earn +100ticks 4 times in 4 days
This morning we finished up an incredible week with a Non Farm Payroll Friday. We discussed the day trading strategy for NFP-Friday in our Morning Prep, and we were ready for the price-action to get started shortly after 8:00am EST today.We didn’t have to wait long this morning to find some high-percentage-trades on Crude Oil using a simple day trading strategy we use with the Previous Highs of the Day (PHOD). This strategy uses the PHOD as the highs of a trading range, and when we fail to breakout of this trading range, our day trading strategy says to sell those highs. We got short on Crude Oil when the buyers failed above the highs and we managed to grab 2 profit-targets before the news came and bounced us out.
Later this morning, after we made it through the sideways slop from the 8:30am news we soon realized that this market personality hadn’t changed, and the sellers were STILL in charge and trying to push lower. We found a price-wedge on our 21-Range chart around 9:00am, and by 9:35am we had the buyers on the run, the sellers took over again, and our day trading strategy told us to get short Crude Oil futures when we broke new lower-lows.
The next hour of trading on Crude Oil was very profitable, using the same day trading strategy we began the day with, working very well to grab profits on the way off the highs. After 10:30am EST we soon began to see that the market personality was changing, which meant we needed to trade carefully until 11:00am EST. We do not want to risk our hard-earned profits so we decided to stop trading Crude Oil and focused on the selling opportunities on Gold which was very slow and sluggish, but still had a MONSTER move off the highs, which we called live in our trade room.
Friday’s are always a great opportunity to work a few hours, make some money for the weekend, and finish up a successful week. We did it correctly today, being ready for the news, and using a simple day trading strategy to tell us exactly what to do, and when to do it.
[MONDAY HOLIDAY ALERT] Please be aware Monday is Columbus Day Holiday in the US, which means we will not be trading (when the kids are out of school, we are too) and we will re-open our Live Trade Room on Tuesday @ 8:00am EST. Our offices ARE OPEN on Monday normal times, so feel free to give us a call to get started as a new advanced member!========================================================================
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10-04-12
Trade Room was closed due to Joseph traveling to Hedge Fund Conference in SF, CA
10-03-12
Crude Oil & E-Mini Russell earn over 200-ticks using simple day trading strategies
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| Joe’s Trade Worksheet |
This morning was another big day of profits in our live trade room, earning over 200 ticks of profit using a very simple day trading strategy that focuses on identifying the price-structure first, then looking for the entry pattern once price gets into the correct location. Once we enter the trade according to our entry rules we then use proper trade management, which is provided to our members in great detail within our course materials.
Today we saw Crude Oil trading below the PLOD which shifts the price-structure from Inside Day to Outside Day, which was the first clue to get short, but when we broke below the major support below 91.15 we knew the trading range below us was going to let this price drop quickly, and we took 67 ticks out of the market selling short before 9:00am EST.
Later in the morning the Mini-Russell broke to new lower-lows and we were watching for the price-reversal because the price-structure was a price-wedge and the market personality of a price-wedge always says to look for fake-out-breakouts. We waited patiently for the Mini-Russell to slow down, momentum went oversold, the sellers looked exhausted, before we could react the price action reversed and moved higher off the lows. We quickly put our buy-orders on the table just above the PLOD and got into one of our biggest winning trades of the way.
You would think we were STEALING this profit it was so easy to earn with this price-wedge day trading strategy.
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10-02-12 Recap
Range-Bound Markets make for easy profit targets!
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| My Trading Worksheet for Today |
This morning we had some big concerns before we got started at 8:00am EST with our morning prep. First concern was the lack of major news this morning, and the second concern was the looming Non-Farm Payroll report due out on Friday which we knew would be a reason for the BIG money to sit on the sidelines today. We quickly defined range-bound markets on most of our favorite futures markets today.
We got started trading the euro currency futures this morning, which we quickly identified as a bullish market personality but just when we looked to get long above the PHOD (as always) we noticed a very important clue from the Dollar-Index. We know the Dollar-Index was sitting at the LOD, which is considered support. The negative Dollar-Index correlation between the euro and the Dollar-Index made buying the euro a very difficult pill to swallow, so rather than buying, we looked for the Dollar-Index to bounce off the support at the low of day, and then proceeded to sell short the euro currency futures as soon as it dropped back below the PHOD. This trade got us started with some easy profit this morning.
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| My Control Center Snapshot Live Trade Account |
My second trade this morning was a full stop-loss. Yes, those DO happen in our trade room, and this morning was an excellent example of a price-wedge and range-bound market that simply didn’t want to bounce on the first try to get long. We found a price-wedge on Crude Oil as well as a double-top support level below, which we planned to use for the price-reversal at the lows. When price dropped to the lows of the price-wedge we bought the lows and took a full stop-loss of 10 ticks, but 1 tick of slippage helped us avoid the full 40-tick loss.
Shortly after we got stopped out of the long trade on Crude Oil the bottom fell out of it and we tumbled lower, all the way down to the double-top support levels we had identified. I quickly called the long trade at the double-top support of 92.10 and ended up with 2 opportunities to buy-the-lows at support. These two trades dug me out of the whole I was in from the loss, and we were back in the green!
Just like Monday, the end of the day was the best market personality we got all morning, so our discipline and patience really paid off well today. We originally sold the PHOD on euro currency futures using the Dollar-Index correlation as our guide, but we finished our morning on the euro with a very profitable wave-pattern-long after the Dollar-Index made a new Low of Day which gave us the entry trigger we needed to get long the euro. Remember, the Dollar-Index is a basket of currencies, made up mostly of EURO, so the new lower-lows on the Dollar-Index told us that the buyers would soon be stepping in on the euro, and we were ready.
We finished the day today with +120 ticks of profit and with the $12.50/tick on the Euro that earned us well above our daily profit goals. Once again today we provided the EXACT entry, stop-loss and profit-target for everyone to participate and profit with us.========================================================================
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10-01-12 Recap
Day Trading Strategy waits patiently for High-Percentage Trading Opportunities; +100ticks in 30 minutes
This morning was an excellent example of EXACTLY what we referred to in our Morning Prep this morning at 800am EST. We always have to be patient on a Monday morning, and today our patience was rewarded with some serious profit late in the morning of the US trading session just before Ben Bernanke took the stage. Our day trading strategy works in ANY liquid market, including Forex, and we called every trade this morning LIVE with entry, stop-loss and profit-target so that even the newest traders can make profits with us.
The day began at 7:30am EST this morning when we posted the morning prep, we then followed that up with a review together at 8:00am EST and we began trading shortly after 9:00am EST. We know Mondays are almost always going to be very slow at the start and that if we can stay patient we have plenty of opportunity coming our way. We spoke this morning about setting up our charts correctly, using our time wisely, almost ‘distracting’ us from the sideways price-action we were seeing on Crude Oil, Mini-Russell, Gold, and euro. Soon enough the market personality changed and we were ready for the trading opportunities that would come next.The first major news started at 9:00am EST, which is just about when we took our first two trades short off the highs on Crude Oil. We used the 21-range and 13-range charts for this. We love price-reversals and counter-trend trading is our favorite way to ‘catch the market off-guard’ and make some easy money as the market reverses. We love to look for price-reversal trading around the highs and lows of a trading range, and the PHOD / PLOD are perfect examples of this. Today we had this price-reversal off the PHOD on our radar ALL morning considering the market personality of Crude Oil futures, so this first trade we were hoping would be a monster. We made money off this first short, but it wasn’t nearly what we had been looking for. I want this price ALL the way down to the PLOD…stay with me…it happens later!
The third trade today was an excellent example of what happens when the sellers fail at the highs of a range. The sellers tried, they failed, and this gives EVERY buyer in the market some courage to get long. Combine the sellers failing with a very high percentage trade 21-range wave-pattern-long and we almost had no choice NOT to buy this price-action and try to take it higher. We got long for our 3rd trade of the morning using the 21-range wave-pattern-long as our biggest reason, and we provided the exact entry point, profit-target and stop-loss for EVERYONE in our trade room today. We took our profit-target at the HOD, left a portion of the trade on the table, but the market personality wasn’t there and price came back down and stopped us out at the point of entry. This made sense to us, we almost ASSUMED that would happen, which is why we managed the trade a certain way.
The rest of the morning session was pretty much slop and chop ahead of the speech from Ben Bernanke (which wasn’t supposed to be anything special, tell that to the people who went to lunch at 1030am EST) and we saw this shift in market personality shortly after 10am EST today. After 10am EST today it was easy to see we would have to wait a while to see if the market personality would improve, and it certainly did.
Our final two trades today came just as we closed up the room for Trial-Members, and went to Members-Only in our trade room. Both Crude Oil and Mini-Russell Futures were stalled out at the PHOD, which is easy for us to sell short if we get new lower-lows, or go back to buying pullbacks if we get new higher-highs. Sure enough, just as we finished our trade recap both of the trades trigger, Crude Oil went first and we saw the entry trigger LIVE in real time and took the trade short. We didn’t make much more than 20 ticks of profit on the Crude Oil short; something clearly got under the skin of this market personality today and had it sitting sideways the rest of the morning. Tomorrow we meet again Mr. Crude!
The Mini-Russell was the big winner on the afternoon, even though I missed my final target by 1-tick (I was on a call with a client…the hazard of being a consultant for Hedge Funds) but I still cant complain. Mini-Russell used the SAME PATTERN as Crude Oil except for this Mini-Russell short we got the bottom to fall out of it and took almost 90 ticks of profit just before Bernanke hit the stage. This Mini-Russell trade was a perfect example of how a Monday looks. We stayed patient, we took the trade with confidence, knowing our trading method works well if we just let it run!
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+100ticks LIVE Day Trading Crude Oil & E-Mini Russell
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| Joe’s Trading Worksheet for today |
This morning we knew exactly what to expect right from the opening bell, and we discussed this today in our morning prep at 800am EST. Monday’s are always the same; expect a slow start with people getting back into the markets for the week ahead. On top of a typical Monday we had concerns over traders coming back from Quadruple Witching ‘Holiday’ last week, and of course we checked the economic calendar for this morning and saw nothing on the schedule here in the US besides some minor reports to trade around.
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| Joe’s Trading Record for today |
At the end of our formal prep this morning we had defined the day as being a possible disaster waiting to happen…but we know better than that, we used patience, and a solid day trading strategy to earn some significant profits in a very sideways and consolidated marketplace. We called each of these trades live, on real trade accounts, in real-time so our members could trade along with us.
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| Crude Oil 30-Minute Chart |
My first trade of the day today was using the 30-minute chart on Crude Oil to define the market personality and a short term sideways range. We soon found Crude Oil trading below the lows of this range, and I used a wave-pattern-short to enter at new lower-lows. Price didn’t get very far, sellers failed, the buyers came back into the market, and ended up stopping me out of the first trade with nothing to show for it but some commissions to my broker. Not to worry, we just tried to sell the breakout, and now we will look for this to be a fake-out-breakout so we want to buy.
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| Time & Sales, Pace of Tape, Delta Indicators |
After the sellers fail at the lows of a sideways-trading-range we know that price will most likely reverse, and I was ready to buy using a failure pattern on the wave we took to get short in the first place. When the buyers pushed price above the swing-high we had marked up LIVE in our trade room, we got long on a very good example (see image to the left) of using time and sales to read the tape, pace of tape indicator measured the speed, and the Delta indicator told me WHO was in charge. All signs pointed to BUYERS in charge and we took the trade LIVE for a long that EVERYONE was aware of well before we took it. This was a perfect example of reading tape, along with speed, and use of the delta at the best LOCATION. Remember, location is the most important thing, then all we needed was the pattern to trigger, and it did.
Later this morning, my final trade of the morning session, the Mini-Russell helped us hit $1,000usd for the 4th day in a row with a very similar trade we saw earn profit on Crude Oil previously. We began with our formal prep at 800am EST, which identified the sellers failing at the lows of the sideways-trading-range (sounds familiar!) so when the sellers failed we knew to buy the lows at support, just like we did on Crude Oil. I must admit, when Crude Oil reverses at the lows, it’s very easy to use that as a clue for the same thing likely to occur on the Mini-Russell, these two markets tend to follow one another, and this was a big confidence booster to take the long position when the market personality on the Mini-Russell was pretty pathetic.
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| Mini-Russell 30-minute chart |
The Mini-Russell and Crude Oil helped us finish up a fantastic day of live day trading in our trade room with our lifetime members, and our trial-guests. Today we did an excellent job staying patient on a Monday morning, executing our day trading strategy with confidence, and using proper trade-management every step of the way. Remember, in our live trade room we teach AND trade live, in real time, which makes our live trade room head and shoulders above the rest. I look forward to teaching our new members EVERY aspect of our professional trading method.
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