Archive
Monthly Archives: January 2011
January 31, 2011
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Buy Pullbacks and sell at resistance on crude oil and gold futures
800am EST We have the gold futures in a strong bearish price channel, and we can see at the most recent price action we see a narrowing wedge. So price are dropping with the channel, and we see consolidation with the price wedge. I want to sell the highs and buy the lows of the […]
Continue reading January 31, 2011
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How to Draw and How to use Trend Lines for Day Trading any futures market
– Trend Lines: draw them, use them, etc – Morning routine goes over it all, so log into the beginner’s course and watch the video on the morning routine. o Draw: o Open my slow timeframe first (daily, 34-range, 30-minute)(major) o Find the highs and find the lows o Move closer to the most recent […]
Continue reading January 31, 2011
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Day Trading Morning Prep Gold, Crude Oil, Dollar Index, Euro, E-mini Russell Futures
Live Trade Room is open, come join us! Click here for helping logging into the Trade Room Let’s begin our morning routine with the economic news for today’s trading session. 8:20 Gold & Currencies OPEN 8:30 Personal Income & Outlays 9:00 Crude Oil OPEN 9:30 US Market OPEN 9:45 Chicago PMI 10:30 E-mini Reversal 11:00 […]
Continue reading January 31, 2011
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Chicago PMI
-The Institute of Supply Management – Chicago compiles a survey and a composite diffusion index of business conditions in the Chicago area. The survey is conducted by Kingsbury International, LTD. Manufacturing and non-manufacturing firms are both surveyed. Hence, it is not directly comparable to pure manufacturing surveys. Readings above 50 percent indicate an expanding business […]
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Personal Income and Outlays
-Personal income represents the income that households receive from all sources including wages and salaries, fringe benefits such as employer contributions of private pension plans, proprietors’ income, income from rent, dividends and interest and transfer payments such as Social Security and unemployment compensation. Personal contributions for social insurance are subtracted from personal income. Personal consumption […]
Continue reading January 28, 2011
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Biggest Profit 2011 Day Trading Gold, Crude Oil and Euro Futures
815am est – We check the volume on the gold contract and we see the volume is higher on the 04-11 contract than the 02-11 on the gold. – We trade the higher volume contract, so lets look at rollover on the gold today. 825am est – The dollar index is trading in a narrow […]
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Stops and Targets Trade Management Day Trading Futures
– Stops and Targets o What type of trader are you? o Scalper = always use the same stop and first two targets o 6-10 tick stop o Target = +5/+10/Runner o Day Trader = stops and targets can be the same, but often they are different o 10-20 tick stop o I can also […]
Continue reading January 28, 2011
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Day Trading Morning Prep Gold, Crude Oil, Dollar Index, Euro, E-mini Russell Futures
Live Trade Room is open, come join us! Click here for helping logging into the Trade Room Let’s begin our morning routine with the economic news for today’s trading session. 8:20 Gold & Currencies OPEN 8:30 GDP 8:30 Employment Cost Index 9:00 Crude Oil OPEN 9:30 US Market OPEN 9:55 Consumer Sentiment 10:30 E-mini Reversal […]
Continue reading January 28, 2011
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Consumer Sentiment
The University of Michigan’s Consumer Survey Center questions 500 households each month on their financial conditions and attitudes about the economy. Consumer sentiment is directly related to the strength of consumer spending. Consumer confidence and consumer sentiment are two ways of talking about consumer attitudes. Among economic reports, consumer sentiment refers to the Michigan survey […]
Continue reading January 28, 2011
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Employment Cost Index
A measure of total employee compensation costs, including wages and salaries as well as benefits. The employment cost index (ECI) is the broadest measure of labor costs.- Why Investors Care The employment cost index is an easy way to evaluate wage trends and the risk of wage inflation. Wage inflation is high on the […]
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