Review of the trade setups on the Emini for Friday and longer term. Nice range and many setups using support and resistance and the EminiEdge Trading Strategy. Hope the video is useful to you, and if so, a +1 or Like would be appreciated!
Trading the FOMC day has it's own nuances though I find it possible to cleanly trade it early off support and resistance. If you want to have mammoth stops you could trade through the Fed, but it's too wild for me and my trading strategy. Nothing of note of the report, more of the same. They're backed in to a corner and have no where to go with policy propping up the economy. Don't think the market rallying is an indication of a strong or stable economy. Smoke and mirrors! I think we're in a world of hurt in the US and are only one surprise away from Greece and sorry to say, Cyprus. Think the government won't confiscate your money without your consent? What does the IRS do... What happens to you if you don't pay? Someone's gotta pay and it sure as hell isn't going to be the upcoming generations living off mom and dad until they're 40 playing video games and driving mom and dads Buick. Enough of a rant for now before I get myself in trouble... Hope the video is useful to you. If so, feel free to click on a like or +1... Appreciate your support!
Had a nice weeks trading with the rally continuing on the Emini S&P just as we predicted. This video goes through the trades setups that I saw on Friday with the support and resistance zones as defined in our trading manual and newly released guidebook. If we remember how to read price action, we see some dandy setups that traders are able to capitalize on and get in to some high probability trades and profit handsomely. It is absolutely key to follow your trading rules and have strict trading discipline or you'll make trading mistakes you can't recover from and your trading edge is ruined... I know, for EminiEdge followers this is preaching to the choir, but sometimes it feels necessary to state the obvious, even for my own trading sometimes. Anyway, hope this is useful to you, and if so, don't be shy to click the +1 on the page either with Google+, Facebook or twitter... always appreciate your confidence in my ramblings!
Quick review of the days trading and the EminiEdge zones. Had a decent trade near mid-day after a couple of misses, goes to show you that you never know when the winners can come and even the small wins count... Sorry if my breathing is a bit distracting, had some sinus issues going on, I'll try next time to eliminate this in the recording! Anyway, hope you got a piece of it.
Good Trades - Trader Joe
Just a little review of the bigger picture along with today's S/R action. Today was Columbus day, a bank holiday here in the US. Banks closed but market open set us up for a sleepy day that was trade-able but probably wasn't worth the risk. These days it is better to take a little break and get refreshed for the next days trading day...
Caught a couple of nice shorts today before the market turned back up mid day. Resistance turned support on the way down for a few nice re-entry setups as well. Ended up with +26 points per lot on the day, had a big runner that I was able to stand in front of. Of course it went further, but gotta cut it off somewhere. I attached the second trade I had which shows how to tell when to hang on and re-enter vs. getting out. Have to work on stretching the winners as well as cutting the losers off... Anyway, hope it is useful to you...
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"Trader Joe" trades the Emini S&P exclusively and is the main influence behind EminEdge.com.
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