Going over a couple of days here, explaining my charts and what I entered, and what I should have entered... Some good, some not so good... Sorry if the video is a little long, have a tendency to ramble on sometimes.
I'm all about powering through the trading day with intensity and fire... BUT, it is important to mentally take a break once and a while and keep your psyche in good health as well. Be sure to enjoy life along the way while you're trading!
After a rocky start had a nice move this morning, hope you all got a piece of it. I had two trades this morning, first was a bit early and I ended up dumping the position for a one tick loss. A few minutes later had a beauty of a "Hurl" setup, almost a "Dirty Hurl", almost in slow motion. Ended up taking six points per lot out of the run, and sat and watched it go for at least ten before pausing! If there is one thing I need to work on it is trying to stretch the winners even more. This used to be even harder and I have improved, but I have to keep the pressure on myself and push even more. I was able to catch the second entry and I'll post it here. Recently I put up a little survey just to see what type of posts EminiEdge followers prefer. I'ts hard to catch video while trading, it is a little distracting. Received a few responses already and I'm going to keep this open for a while so take a few seconds and let me know what you think...
We watched as the Emini flopped around a bit this morning until finally committing to run higher. With no reports today, the trading was light, only .86 million contracts traded. The internals are pointing to an overbought condition and it might be time to consider some puts, but I'd sure like to see a little exhaustion volume first to really stop the rally or it would feel like stepping in front of the train. The VIX is also in "sell" territory so we should be on our toes for a sharp pullback before continuing higher. Sure seems like we should be expecting some bearish action to me tomorrow, especially early or even in the overnight before the open. Today I took a couple of dandy trades, one short and one long right at the S/R zones. The third setup (long) was "iffy", so I don't know if I would have been able to get a piece of the entry, would have had to be pretty quick. Looking forward to a little volatility tomorrow, though with no reports of note again, probably be more of the same... Good Trades
Well Well! Shorts were signaled all day long until the last hour today if you were patient to wait it out. It was slow enough that the entries were painless to enter and once in, the market was kind enough to not back up on us hardly at all. Only took 1-2 points per swing, except swing 4 and 5, which were worth a couple of ticks, but enough to buy us lunch anyway after commissions. The S/R zones were spot on and we had no false signals. Seven entries would be pushing it for me, as once I hit the 11 AM time I start looking out the window and only took the first 3, but still a great morning if you stopped by then. Every single entry showed a EE w/divergence today... if they all could be like this, 100% hit rate! The consumer sentiment report caused a little bump but the pros used it as a reason to trap a few amateurs before reversing back up to the comfort of the zone. It's been a fairly quiet week and pushing up to the top of the all time highs on the ES (adjusted), but today was such a low range day, at least in the morning, with only about 3 points until early afternoon. EminiEdge Traders did just fine today anyway, extracting our points methodically, even out of this minuscule range... Just goes to show that size doesn't matter! Okay, maybe that's a little over the edge :) Yesterday I wasn't on my game and ended up just under break even before I stopped. Some days you're just not on and need to stop before you hurt yourself. When you can't find your groove, just walk away... Nothing good usually happens when trading in the fog. Just put your head down and go to work the next day.
A quick note for those of you who haven't noticed, we recently released the updated version of the EminiEdge Trading Manual e-book to the site and is FINALLY now available for purchase and I'm quite proud of it. These 7 entries today were basically variations of only two setups and are outlined exactly with pictures on pages 25-27 of the manual. I decided to celebrate a bit with the release of the manual and am offering a discount for 1 week for those who are thinking of jumping but need a little push. Also by popular demand, there is now an "EminiEdge Traders Bundle" now being offered that gets you all of my indicators, plus the EminiEdge Trading Manual, plus a month of the EminiEdge Zones direct to your mailbox the day before, plus I threw in the EEdgeVerticalTimeLine5 indicator, which marks up to 5 times on the chart for reference and they can't be moved by accident like a freehand drawn one. These are a really handy visual to remind you where you are during the trading day and I use them everyday. If you would have followed the setups taught in the manual along with the EminiEdge Zones today, you would have gotten your manual paid for already! Not trying to sell ya, those that have been with me for a while know I'm not a bull shooter but a straight shooter, just telling it like I see it!
Hope you all got a piece of it today and had a good weeks trade.
Finally! After a lot of countless hours writing, editing,and proofreading the newly updated EminiEdge Trading Manual e-book is available for immediate download on the website! If you've ever wanted to know how, where and why I enter trades every day, this is for you. This updated version now includes charts and descriptions on how my charts are setup, how I get ready for each trading day and what I look for in my setups. The setups are detailed, with chart examples, so you can learn the how to enter and exit with stops of 1 point or less. When to take profits and why? It's in there... Go long or short? It's in there... Really the "meat and potatoes" of trading, no fluff, no sales gimmicks, just real trading instructions to help get aspiring traders on their way. As an introductory offer EminiEdge.com will be offering this trading manual e-Book at 30% OFF for the first few traders. This won't last long so if you ever wanted to learn how to trade the Emini Futures, now's your chance. Click to the "Pricing" tab to get yours at this intro pricing....
What a slow day! After a bit lower open, the emini turned up and never looked back. I wasn't convinced that it was going up today so my mind kept telling me to get short. Watched it after that for most of the morning and finally after our 11 AM "Last Chance" talked myself into looking for the continuation long. After waiting through the Sloooow period had a long trade that topped of the day, attached here. These days when it's a runaway, just look to jump in and ride it, don't be a hero and try to step in front of that train. Got nothin' to prove, stay out of your own way, suck it up and trade what you see, not what you feel. So it seems the Greece debacle is on the back burner for now, or at least the media has stopped talking about it. Quiet is usually followed by volatility so be ready when the fireworks start!
Well, the EminiEdge levels worked like a charm today! After what I expected to be a sell-off day turned around mid morning, time to not fight the move and get long at 2060 and hang on for a quick 10 point screamer straight up. Immediately after, a beauty of an entry shows up with a tell-tale rejection at our initial pivotal resistance and we're off to take 10 in the opposite direction. Hey I'm not prejudice, I'll take them both directions if the market will give it... I was done after the first couple of hours, but there were two nice continuation setups a little after that that (red arrows), first was a stall setup, then the next was an Emotional Extreme setup (EE), clear as day. This run short continued for about 14 points after that and tagged our support at 2052 to the tick before giving an initial bounce, perfect place for profit taking if you were more patient than I. If you were really patient, right at the bottom there was a chance to get long, first with an EE setup that would have had me taking cover with only a point or break-even, but immediately was followed with a kicker setup long with EE and the market never stopped until it was 12 points higher. If we'd get this kind of action every day we'd all buying our own island... at least those EminiEdge subscribers who can read price action and know where the next days S/R is the day before! Seriously, hope you all got a piece of the beautiful swings, it doesn't get much better than that! The market is certainly news driven with the Greece collapse so the next direction is anyone's guess, but if I were pressed, I'm guessing we've made a short term bottom and would look to buy the pullbacks if we open strong tomorrow...
The market gapped up nicely and resistance turned support all day. This move was expected, told Mrs. EminiEdge that I should be buying a few calls at market close yesterday. Didn't think I'd have the chance to trade at all today so had to let it go. Expected a rally into the end of the week, the professionals want to have a nice boost to their portfolio before a holiday weekend and we also have end of the quarter as well. Just a reminder, I'll be taking a little time off for the holiday and hope you do the same. A break from trading can help the mind regenerate...
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"Trader Joe" trades the Emini S&P exclusively and is the main influence behind EminEdge.com.
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