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Market showing signs of Strength

Tuesday, December 6th, 2011

Today is Tuesday December 6th, 2011 and the market is showing signs of strength with three days of not wanting to give up any ground. That could still work for the bulls benefit as market rotation could be taking place. The weak hands have traded there positions to stronger hands and in that way, the market does not want to give up any ground, thus market rotation.

There sure is a lot of news out these days and why I don’t like following it to help me make market decisions. All the news is constantly being inserted into the market on a moment by moment basis, so it pays to follow the market as that is more of a pure play. There can be to many games played as institutional traders try and work the news to draw in participants only baiting them so they can sell it off.

The price action within the day is in my opinion the best way to not get duped. Let me state, that if you don’t know how to read the price, you will still get hung out to dry. It does take time to learn, but it can be learned if you know or have the blue prints. A builder trying to build a structure with no blueprints would be foolish. In the same way attempting to trade with no blueprints, plan, method is also foolish, but traders try it all the time.

You have to admire the initial burst of self confidence, but it is soon most often met with trading  reality that it is not easy. Trading can be simple, but it is rarely easy. That is often a lure for many. It does not look that hard, until you try it for real and see that it is not that easy. I say that to those who don’t have a trading method that works. This is not just a few idea’s of how or what you will do when or as it relates to your favorite indicators, but an actual written plan on how to view, interpret and then trade the market.  If you have a few years, you might be able to come up with one yourself, but otherwise, you will may need to look around.

Not all trading method are created equal, that is for sure. With that said, it should include things that are visual to help you see what is present already on the screen and it should be backed up with a solid consistent trading methodology. The second part is the one most have a problem with as it often does not exist. I feel, a trader needs to know why a trade is going to go up or down, not just that it is. If he knows why, then he can understand the process and know what to do about taking advantage of it the next time he see’s it coming. Without that knowledge, you are left powerless to forces you do not understand and that is not going to help you long term. You will be left twisting in the wind.

So, to recap, having a solid trading methodology to go along with all the tools is imperative. The tools alone will not make a good trader. There is just to many things going on within the market on a daily basis that you will not be able to keep up with it.

Knowledge is Power and those that have the knowledge have the power. I know we have all heard that before and it is in large part, very true. Get the knowledge and see the power.

In today’s trading, I was only able to catch the last few minutes only of today’s market for a few points. I came in late and missed the opportune entry, but it still had a few low risk points left in the move. A screen shot below with an accompanying sister chart.  Good trading to all.

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Trading Course & Mentoring Program

Friday, May 20th, 2011

This post is for Friday’s market May 20th, 2011 as we saw the market initially move lower, then back higher and finished off on the lows of the day -13 on the S&P futures and -93 on the Dow Jones.

I had pointed out the resistance area overhead and told my group that we were likely going to move lower off the open exactly where we ended up within the first hour of today’s trading. In addition, I mentioned several days ago after first hitting the resistance area overhead 1344/1345 that we would likely move back down to the 1316 area by Wednesday at the latest. So far that is turning out to look like a good read as the markets did close on there lows for the day, a solid sign of weakness coming on Monday, but we will see.

The market is getting into position to soon break down or rally back up. the 1316 S&P area is very significant and we should hold above that number give or take a little. I will say, that 1310 on a closing basis is the line in the sand. This is just my opinion and not investment advise, but that number, 1310 needs to hold on a closing basis to remain in the uptrend as I see it. I think we will revisit the 1316 area the first part of this week and bounce once more and then we will see.

A break of 1345 on the upside will likely get things going up again, so that is the number to watch there for the longs.

I did not trade all this week as I had to tend to some family matters that took my early morning days. I did not mind the break as it has been the first week off of any length for months. I hope to be back trading this coming week but I may need to just play it by ear. I have a video of today’s turning points in the smallest time frame chart I use, with just a simple view. I have taken off few things but have left a few things for you to see how a trader could use the indicators I show to his advantage. The indicators are only a reflection of the trading method and is not the method by any means. I teach how to read price action and not indicators, as they are not needed at all to get the same entries as shown. The indicators I show do a pretty good job of reflecting the trading method, but I don’t say to much more than that. There is a lot to it, and is of substance one could build on nicely. I have much more I don’t show, but as I have said before, something is better than nothing.

The trading method and course is not hard to understand, but it does take work to absorb and is very unique. I don’t think there is anyone doing what I do in the way I do it, out there. It is a unique combination of things that I have found to be very consistent and reliable. In addition, it carries with it the potential to carry a very small stop on most trades if you so choose.

There is more than one way to trade the method as well. A trader can take the trading method and build upon it to help him make it his own, personal to him. That way, you don’t have to change the dominant style of trader you are to make this work. To customer fit the method to the trader is ideal. This type of outfitting, has the best results long term for success. You don’t have to turn yourself into a round hole, if you are a square peg. OK, that may not be the best example, but I did get a laugh just now.

I think you know what I am saying. The principals are all there to tailor the method to you. If you like to trade for bigger moves, and trade less, time frames can be re-arranged to account for that. If you like to do purely small scalp trading, of as little as 3 tick to 2 points (and carry a 3 tick stop on most trades), that is available in a different model screen set up called my T-1 trade screen, (never shown). There is a lot more in between as well, to much to explain, but I do know that fitting your trading style to the method is the way a trader will get the best results. In addition, a lot has to do with how much time you have to trade or want to trade, to make a few points for the session. Its all a beautiful thing.

If you are looking for something that works and can work for you, this could be it. I don’t often tout my trading method in my blog writings, but once in a while I do, as I am proud of my accomplishments and how it has helped many traders reach there trading goals.

I often teach and give out a steady diet of the mental side of trading as well, which is so often overlooked. The mental side of trading is just as important as the technical side of trading. This is where getting the desired  results can make all the difference in the world. Some traders need help in this area, to make sure they follow the method and don’t beat themselves for no good reason.   There are a lot of reasons for this and the topic for another posting, so give it some thought and see if  the  trading course and mentoring program, might be for you. If you have questions, I always take more time than most to give you complete answers to any questions you might have.

Wishing all my readers the best going forward,  Vince

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Profiting from Scalp Trading

Wednesday, April 13th, 2011

4-13-11; Wednesdays Trading went well. I had another trade to target on my second trade that came together perfectly. Today’s trading grade (A).

There is more to this down move underway, but we cannot rule out a contained bounce up over today’s high. Barring that bounce, we have around15- 20 S&P points more to the downside, now that today’s session is in. So, proceed like you are crossing the street, look both ways and proceed with caution.

Today’s trades below.

There were some good moves in the market today and it was pretty much an easy read. I have the turning points and continuation points marked up in the chart as I usually do, to show you where you could have taken action to capture a piece of the markets move.

Each tick for 1 contract traded is $ 12.50. With three contracts that is 37.50 per tick movement. It takes 4 ticks to make up one point in the S&P and the leverage for those three contracts is about 65,000 x 3 or close to $200,000 worth of stock during the time you are in the market. You always have a stop in place so you know exactly how much you will allow the price to work against you. Everyone who trades this market know this or should know it, but for the benefit for those who don’t, there it is.

The Sniper Day Trading Method, is something I came up with. It is a combination of things that look to a very unique form of support and resistance combined with momentum. It is what I find works and is very consistent in virtually any trading environment.

It is a trading method, not a system. The signals above could all be taken without throught, but then it would start to become a system which does have its problems. It is the market conditions that make the difference as to which area’s are better for long or short than others.

In fact, I like to call those marked area’s as “Area’s of Interest”. The reason, because they are area’s where prices are likely to move with little recoil against you, but not every trade signal will make for the best trades. Some are better than others and have there own individual components to it that can then give the trader the edge. That is the trade method part of the equation. You have discretion, but you also have rules and guidelines to follow. Just one of those can be the indicator set that you see on the screen.

Those indicators are not everything and there is a lot more to it. I only show a limited amount of my screen as something is better than nothing. That only leaves you wondering how or even if this looks like it could work. If you look back at dozens or I could say hundreds of blog postings to see my trades and more of these area’s of interest I talk about, you will get an idea if there is something to this or not.

Getting familiar in taking the short trades the same way you do the long ones is a good thing. The reason, the market will always move in two directions with down most often moving faster.

Some traders have a problem seeing and finding the trades short. You just have to tell yourself it is the same and allowing yourself to see it, will open up more trading opportunities to you.

Be sure you know your trading platform front, back and sideways. Spend the extra time to be sure you know how to place the orders.

Going back to the trading method, of which is really a “scalp trading method”, implies that a trader is willing to pick off a small piece of a market move with limited risk while doing so, get in, get out. Scalp trading can mean different things for different traders. I do have something that can take 2,3 or 4 ticks out of the market while risking no more than that on the trade. There are dozens of trade opportunities that match up to this in any given session. The goal here is not to hit a home-run, but to pick up a few small bit size pieces and off you go.

The other part of my trading method is for those who are better inclined to trade for bigger moves and will allow the trade to trend. This is in my T-2 trade screen as you see in the picture above. I still do take very small trades at times, because that may only be what the market is offering. I will take what ever I see I can get safely.

Limiting a traders risk is all about knowing where and when to enter. A small window does present itself on the screen many times a day and needs to be met with persicion timing. That is where you need a Sniper to zero in on the trade entries. A Sniper trades from cover as he looks for the target. That is how I came up with the name. In looking at the screen shot above, the entries are clearly identified and it relates, yesterday, today and again tomorrow.

Profiting from scalp trading is very possible.  The difference from being able to and or not, is knowing how, it can be learned. Do you have a passion for success, do you think you have the discipline to follow the method rules to profit from scalp trading?  Then only you know what you need to do next.

Hope you have enjoyed the article today as I will write again, until that time, Good Trading to all.

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Day Trading against other Traders

Wednesday, December 15th, 2010

Today is Wednesday December 15th and the market pulled back a bit today with the Dow off -19 and the S&P -5 points.

Today we saw a little more action with the trading range expanding from the tight range of the past few days. That is welcomed by many I am sure. It can be hard to make money when the market moves are so restricted, but having a short term scalp model that offers small risk tied with small rewards works just fine.

If your trading model is only as such that you need the big swings to make money, what do you do when things quiet down. You can trade other markets and that is an option, but many traders prefer to trade what they know and will stay with it. I would say, if your trading model is not equipt to make money on small moves, you either need to stop trading until it changes, or trade something else that is moving. If you force trades in a low volatility environment, you will only loose money.

Knowing how to trade in any condition, trending  with nice multiple point swings, or short choppy moves you can make money in either condition. Many traders do not like to scalp trade, as they say that is too hard. I would say that it can be harder at first, but after one knows how to handle the market by understanding who is moving the market, he can retake the trading edge.

What I mean by that is, traders trade against other traders. They are not trading against indicators. If you know how other traders will react under certain conditions, that is the first step in getting that trading edge. Knowledge is power and those that possess that knowledge have the power or trading advantage. That is what every trader needs, otherwise, you are entering a game with other professionals that feast on those who only think that they are ready to do battle.

That is not meant to put anyone down, by no mean, but to build you up so that you are ready to handle the challenges.

Their are four levels when looking at a market. Traders first are trading against other traders. Knowing what is their likely next move ahead of time and positioning yourself in front of them is first. There reactions is what causes the price to move, so you know ahead of time what they are thinking and their likely reactions will put you in the right position. The price only moves as a reaction to their actions.

That all translates into the price moves that we see on the screen and would be the second level. Again this is a reaction to the first. With that said, based off of these price adjustments we see follow through, played out onto the screen. That follow through with price, causes trading indicators to move and adjust. On time indicators will be the closest thing to price and that would be the third level. The last level is lagging indicators and those are behind price, sometimes significantly. This often is the one most traders are following to help them interpret the market and its direction.

In my opinion, traders need to be looking at the first level, which quickly moves into the second level to help give them the trading advantage. There are ways that traders can know with a pretty high degree of certainty, that price is going to react in a predictable fashion. This is first understanding the first level. We are not born knowing this and will have to be taught it. Some traders can stumble upon it, but it could take several years and or never to find.

There are ways to project where prices will go after you have entered, giving you a road map to follow, if in-fact you can hold on for the full trip. If not, scaling out along the way is a great way to reduce risk and lock in profits. When conditions say, just take 1 point, you can do that, knowing that you are not really risking any more than 1 point, a one to one ratio.

Most people who try and scalp trade any market can not find the lowest risk entry points to give them that low risk entry. One that will not come back against them, causing painful draw downs and stop outs. That is why I have called my trading method, Sniper Day Trading. I have been able to identify the low risk area’s where 1,2,3 points or more can be captured. The key is low risk. Their is a way, to not only find the low risk entries but project where prices will move too, very often. I have a few unique things that I do, that I have never really seen anywhere else.

I have never bought a trading method or system or service of any kind since I have been following the markets back in the early 1980’s.  I can’t say why, but I just never did. I discovered some unique things about the markets that most traders are never able to uncover and have put them all together to make up Sniper Day Trading.

I am proud of my accomplishments, but I am working towards a much bigger trading goal and know that I can do better. When I feel I am ready, I do plan on trading a significantly larger amount of contracts, but that can be a topic for another day.

I will pick this up form here in tomorrows post. Until then, Good Trading to all.

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Sniper Day Trading Method, Works On Stocks Too

Wednesday, July 14th, 2010

Today is Tuesday, July 13th and no pull back as of yet after hitting my S&P 1080 target.

These target announcements is just a way for me to think out loud and share my thoughts. I don’t trade these multi day calls, although if I did, I would have cleaned up. I have called all of these large daily moves over the past year with excellent timing and results. Again, its just to give me an idea of what kind of day I can expect and where the index’s end the session’s, on there highs or lows.

I did see a minimum move coming from S&P 1036 to this 1080 area as called. We have hit that, but was looking for a pull back, it did not come. I can see in the night trading a gap higher just after today’s close. It is hard to say exactly what is next. Since we did not get the pull back and are pushing the outer limits of range, this market could go either way. There is a lot of news coming out the next few days and would expect the market to show good movement.

I can’t imagine the sentiment numbers coming out tomorrow will be lower, with this big rally. The opposite could be true. We could get pushed right back to the middle numbers with 45% bullish being neutral. Last weeks numbers were 37% and falling. We did come close to the trigger point and that is making we wonder if the bulls said, it was close enough, lets buy the market. It happened about 4 signals ago, in the same scenario, so it is possible with recent examples to back that up. The market went up for several more weeks un-interrupted.

I am traveling in the SF Bay Area today and for the next day or two, so I am taking a low profile. I don’t want to have to trade if out of my comfort zone. I can for sure and do many times while traveling, but I have made mistakes in the past that I think otherwise would not have made if I was not distracted. I need to keep my consentration up at all times while following the markets. If you get sloppy, or I,  you could get spanked, (hurt). No fun.

I want to start trading the opening bell very soon and will be doing so coming up. There are better moves and volume usually in the morning open, first 90-120 minutes. That is going to be my focus, but just need to change my schedule around, not an easy task, I am a night owl, as I write this past midnight on Tuesday, oh, now Wednesday.

That is it, for now, need sleep. Below, is two charts, one of RIMM and the other, FAZ.  The first stock is a popular day trading stock and the second is as well. Some people may not be aware of it, but it is Bear Index (3x’s Index) so this has  moves behind it, as the financial sector goes about its business. It moves in the opposite directions as the banks and finance companies. It is a good day trading stock as well. You can take a peak of there charts in a tick chart. Rimm chart is a slow time frame and the Faz is a little bit faster. OK, I will be back tomorrow. Good Trading.

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Sniper Day Trading Method

Tuesday, June 15th, 2010

Today is Tuesday, June 15th and the market is on a roll, since the open, moving back up and over the last resistance.

So, I am writing this before the close of today’s session and we are currently up 19 points on the S&P emini futures and +165 on the cash Dow Jones and finally +50 on the NASDAQ.  So far a great day.

This is what I thought would come as I wrote about yesterday. I said that yesterdays reversal was not much to worry about as it was just some temporary overhead resistance that the Dow and S&P was encountering and so far that seems to be true as the market has broken out over all the overhead resistance.

I noticed a change in the resistance numbers, since the contract month changed and what was resistance at 1106 (what I mentioned last week several times) is now 1102.75. Yesterday the market came within one point of that, 1101.75 and backed off. Those that wanted to sell into the resistance early, jumped on board and caused it to come up shy of hard resistance.

We came all the way back up today and went through it, so far, by a few points and currently +21 points as we sit at 1107.50.  So, we have gone several points over the hard resistance and we are seeing a lot of short covering right now. Those that did not believe we would rally are also jumping on board, to push this up even higher. This will probably continue until we reach those numbers that I talked about in yesterdays post. The average was 1132 S&P emini futures (low was 1122 / high 1042).  Once we get into that area, plus or minus, you should be very careful with long term positions and such. This is just my opinion and is not considered investment advise. But my opinion is as laid out clearly in yesterdays post.

Another update 12:47 West Coast, +24 points and trading at 1110. We will soon hit S&P futures 1122 to start, likely in tomorrows session.

Trading the daily or weekly charts is no different than trading a small tick or volume chart on the index’s or any other trading instrument. It is knowing what the market does time and time again, with advances and retracements. How it deals with support and resistance and the likely moves there after.

The markets always have a certain flow and or rhythm tied to them. It throws off a vibration, as does most emotionally tied instruments. Dialing into the frequency is what will take you home. That takes time to uncover, but it is a skill that can be learned. You often have to think in reverse, since if you use human logic you will most often come up holding the short end of the stick. The patterns and setups in the market place are 100% repeatable and they happen every day. I see it as clear and plan as day. It is no different than picking up the newspaper and reading the headlines.

On the flip side of that, if you don’t know the language, you will misinterpret what it is saying. It would be like thinking you know how to read and understand Spanish, but you only took a few classes, although you are sure you got it down.

Well, I hate to break it to you, but you will need a lot more schooling than that to understand this language. If you have a good teacher, and one that is dedicated to your learning and if you are willing to put in the time to learn this language, than you will over time be able to communicate and understand what is being said. With that, you will be able to get to where you want to go in your trading career.

With the knowledge and confidence of being able to handle yourself in the trading arena, you can write your own ticket. Do not underestimate what it is going to take. I know many try and figure it out on there own, for various reasons, but that will not get you “home” until very late in the day, if at all.

I will admit, I was one of those people. For so many years I learned through trial and error, with lots of error. I never purchased a trading system or method of any kind, never a newsletter, never anything trading subscription related  other than data feed, since I have been following the markets, the early 1980’s. I am not proud of that, but it is what it is. I think, I had a touch of “Pride” — “Ya Think”.

If I did, I could have cut the time it took to understand so many of the trading concepts that I enjoy today. You don’t have to wait that long, but that is a personal choice. The trading knowledge will not come to you so easily as there are so many trading styles and ways to trade. How do you know which one will work best and or, if it will work at all.

That is why I have over the last few months been trying to show my readers the correlation of just two trading indicators I have up on my screen. One above and one below. They match each other closely as well as link up to other larger time frames, (not shown).

I don’t and can not show my whole screen because that would be giving to much information and reserve that for people I am mentoring. What I show is a “Tiny” part of the whole trading method. There is a lot to learn. I have two trading manuals that cover over 150 pages with very detailed information on the whole of the trading method. I recently completed new DVD video’s, spanning several hours, linking all the method together. I send out updates at the close of the market, showing where the method entries and exits were for the day and why (very important for ongoing learning), so you have constant input of where you should be trading and again, why.  In addition to that I will work with any student who wants personal screen time to go over past, current and live data. I commit to working with any student until he or see understands the trading method in whole. All of this helps me as well become an even better trader.

Today’s trading, I went into the NASDAQ market again, as well as the S&P, results below. Video of S&P trades and screen shot of NASDAQ trades. Solid gains in both markets with little draw down, which keeps the struggle to a minimum.

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Mentoring Traders

Wednesday, June 2nd, 2010

Today is Wednesday, June 2nd and yet again, the market is responding to my calls almost on cue.

I don’t mean to get overconfident or cocky, but the market moved out as I so thought it would, +2.50% or +27 points on the S&P and +225 points on the Dow.

Just looking at the daily chart, told me that a likely move was ready. When I look at the daily charts, it looks exactly the same to me as when looking at a tick chart or small time frame chart. I have seen those patterns thousands of times and know what to expect when I see it in a daily chart. The look or read is the same, daily, hourly, time charts, tick charts, volume charts, they are all the same in all time frame charts.

If you day trade the market and look at small time frame charts and go back to looking at daily charts, you may surprise yourself on how easy it is to call and read any particular market. The reason is, you have been looking at hundreds and often times thousands of chart patterns and know what good structure looks like. This will not come over night, that is for sure, but this is the reason why I have been showing just one of the timing indicators I use. To better give you an idea of what is possible.

It takes time to become good at reading the market, because it does everything in its power to confuse you and make you think  to go against logic. Trading logic is is what you need, not human logic, because the markets own nature goes directly against human logic. If you have trading logic, you will know the difference between a real trading break out and false one.

Trading, is not natural for most people and it is designed that way, to make the unsuspecting fail. With that said, you can put the odds in your favor by improving on your timing. A traders timing is key to his success. A moment to soon or to late can make all the difference in the world.

If you were able to learn excellent timing, to trade any market or trading instrument, what could you do with that?  That is right, you could write your own ticket. That is what I teach those who will allow me to mentor them into becoming the traders they aspire to be.

Becoming a good trader that is able to make money on most everyday he trades is not easy, but it is achievable and don’t let anyone tell you different. It is up to the individual and there personal passion to overcome all obstacles, no matter what. You must be willing to change anything that is holding you back. So often, it is ourselves that is our worst enemy. We need to give ourselves permission to succeed. That may sound odd to some, but you would be surprised how many get caught up into self sabotage and don’t even know why or that it is even happening.

I work with traders to help them overcome what ever struggles or problems they are having. If it is technical in nature or if it is something that they are doing that they do not even know about. The bottom line is, if you have a passion to master the art of day trading and that can be with stock, options, emini futures and even forex, I can help.

What I do goes beyond just selling my trading method to those interested, I really care about helping you overcome what ever is holding you back. All of this helps me as well and it keeps me on the straight and narrow. I have become much better since I have been writing, teaching, mentoring and clearly defining all the elements of my trading program. My confidence has increased, but at the same time, I know better to stay humble and take each day as a gift from God where by I am able to live my dream.

I want to be able to transfer this to others who share the same passion for the game. When you give something away, is when you are able to receive much more. So, this is a whole lot bigger than just me. Times are difficult and successfully being able to trade for a living, offers hope to those who want it.            How about you!


In today’s trading I traded much longer than I usually do, but had some pretty good results to go with it. I could have done better, but when it was all said and done, I did over 4 times my daily goal. I did make some bad trades, but they were small. A bad trade is not a loss, but one that does not follow my method. One trade late in the day, got me as I was trying to close out my trade for a smaller loss but got filled on both, the better exit and the original exit. This is something that I need to watch and in a fast market can happen. I should have closed it out right after getting filled, but thought since I was in it, I would see what it would do. That is not a good enough reason to hold onto a position and it resulted in a stop out. Things like that are bad trades. When you try and make a mistake work for you.

I am looking for a continuation of today’s rally, for the rest of the week and in tomorrow evenings post, I will put up the new sentiment numbers I have been talking about. If they are at or under the 35% mark you can expect a continuation of the rally over the next weeks to come until the the excess is worked off.        Good Trading to All !

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Trading Exercise – Read the Price Charts

Tuesday, April 20th, 2010

Today is Tuesday April 20th and the market continued in its reaction rally up from Fridays sell-off.

I did not look at any news that may have drove the market today, but there seemed to be some good reason for the market to drive higher. The pure technical picture said to play the momentum as the market turned higher at 7:40 am West Coast. Just before that it had come under a little pressure as the night trading had follow through from yesterdays close. The move at 7:40 was a clear take off point. I was not trading at that time, but wish I was because the price action was dismal after 9 am (12 noon New York time). A slow grind for the next two hours as volume dried up and traders patience was tested. Unfortunately I was one of them. I did OK but it took forever. Why I say to myself do I even trade that stuff. I guess it is because I did not get prepared for the early open.

I came up a little short of my daily goal. I did basically have it, but gave it one last trade and that put me under. Only trading small but I have time and room to give myself a break after last weeks monster gains from Thursdays session.

To be successful, we most often have to be our own coaches and talk ourselves through difficult situations. All traders should analyze there “Self Talk” to see if it lines up with there trading plan and objectives. If you find yourself not sure what you are looking for, that is a sign that you need to practice more and become familiar with what is going to take you to your goals and objectives. You do not have the luxury to get it wrong. On the job training is very expensive. If you pay for a course or become self taught, it is still going to cost you. If you go the self taught way, it is going to take you a lot longer to learn what you will need to bring it all together. It is possible and it is a option. I am a product of being self taught. I never bought a program, course or any other trading vehicle to get me where I am today. I may have been able to speed that up if I had, but maybe not. All trading courses are not the same, and the ones that don’t teach you how to actually read price action, but be dependent on indicators or any other thing, is going to slow you down.

All traders need to learn how to read supply and demand just by looking at a chart and be crystal clear on what it is saying without any doubt.  A trading course that falls short of accomplishing that is not the best route. There are times the market is right in between making up its mind on which direction it wants to go and that is when you need to pay special attention and listen to it.

Being a good trader, is knowing in advance what makes up good price structure and what does not. The stuff that looks like market noise, is what you leave alone. You don’t have to trade every twist and turn. Let the market set itself up to give you the trading edge . If you don’t have it, don’t try and trade it. You need to be at least 80% sure that if you put a trade on, that it is likely to go your way. If you don’t feel that you have that kind of a trading edge, leave it alone until you do. It is not worth it, for those who are trying to figure all of this out.

Often, the market is going to suck you in long, just when you think you got it, only to take you down. At those times, you can not afford or allow yourself to give up a lot of room. You will need to learn where the market is breaking away from you so that you can cut your loses short. If you don’t, you will be looking at 2-3 point loses in moments, which will be the next guys gains. Don’t do that.

Look at a chart and if you are a day trader, I would say a tick chart or volume chart. You will have the benefit of hindsight here, but this is good exercise for those who want to get better at timing. Forget about indicators and just look at the price bars. Since you have the benefit of looking at the chart after the fact, where do you think would be a reasonable spot to go long and short based on what you see. You probably will not want to place your marks at the very highs for short or the very lows for long, but within a reasonable margin, where would you like to have placed your order to capture a piece of the move. Don’t be greedy with the exercise, but be reasonable. Tomorrow I will give you an example of what I mean on the charts.

Ask yourself, how can I know the next time I see this set of price conditions that the movement will be similar?  There is a way to do that. It can be done with stocks, for daily price bars, futures emini contract or any trading instrument in any time frame. This is one way of teaching yourself. It will take a lot of practice and you will have to invest a great deal of yourself to find the patterns that will bring it in.

If you can afford it and want to jump start your training, I have just the tools, framework and structure to point you in the right direction to speed up the process. If you want to continue to go it alone, I offer small tips and hint of what you can do here in my blog, but never really get into the technical nuts and bolt of my trading method. You will hear me talk a lot about market psychology and how to overcome one of our biggest obstacles, us. So stay tuned or drop me a line, I am hear to help for those who want it.

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Emini Trading Course

Friday, January 1st, 2010

It is official, 2010 has started.

My “Emini Trading Course“, is available to help provide to those traders who are looking for structure and a consistent approach to start the New Year.  In my emini trading course, you will have available to you the tools and knowledge to pull 2-3 points out of the S&P each day, providing you have the ability to follow the rules and exercise discipline. I teach traders to trade for income and not the occasional home run trades many are looking for. When we swing for the fences, to often we strike out.  

 It will take time to perfect your new skills, but with some work and dedication to learn the trading method, you will be on your way. Day Trading is like learning a language, you won’t pick it up over night, but as I mentioned, if you work at it and have a strong desire to overcome any of your personal short comings and are able to exercise the trading discipline that is needed, you can I believe learn to “day trade for a living“.

This is a subject that is very often misunderstood. There are many would be traders, who have a desire to successfully day trade for a living, but have no written plan of action. That would be like sailing for an island, knowing that it is in this or that direction, without a compass, longitude and latitude coordinates and such. What are the chances you will find the island you are looking for, even if it is a big one, like Hawaii. It is a worthwhile destination for sure, but if you don’t plan for the trip by taking all the essential things you will need, there is no doubt, you will have problems.

To many traders, are just so excited with all of the possibilities that they see. This excitement clouds everything that is needed to actually get to your destination. To often, traders are in just such a scenario and are enamored with this euphoria that seems to take over, in the thoughts of the journey alone. It is the destination we all strive for and there is where the rewards are found. Setting sail into uncharted waters can be exciting but if you lose focus and are not prepared, it will only seem like a bad dream.

For a trip like this, you will need more than the basic’s, food and water. You will have to think of everything before you leave and not wait until you are out on the water when you realize that you forgot to pack some essentials. Doing so will only add weeks or possibly months to your journey if in fact you ever even arrive. Do you see the comparison? If not properly prepared, you will become a statistic.

What ends up happening is, would be traders get lumped into a category that says, it can not be done, the markets are random and anyone who day trades does so to their own demise. That is what some say, possibly because they were not able to arrive at their destination. You need to have all of the tools for the journey before you leave. With the right training and trading method, it is possible to take a daily wage out of the market. Trading for income and a modest daily goal can be attained regardless of what “they say”.  You may not be profitable every trading day, but overall, you will  find what is needed to complete the journey. Structure, “Trading Discipline” and a “Sniper Trading” approach, could take you there.

Not all Emini Trading Courses are the same. Finding someone who has a solid tested approach and someone who has the time to work with you, are essential. Price Action Day Trading, has always been a consistent trading approach, because it all starts with the current price.

Why did the S&P 500 futures  just break out? What was happening before that, which caused the price to suddenly shoot up the way it did?

These are simple questions which many traders do not have an answer. Support and Resistance, are the byproduct of Price Action Day Trading and it will always be that way in the future for as long as the trading markets exist.

I wish all my readers the very best this coming year, I will be writing more about my emini trading course in the coming days to help those traders decide if  ”Sniper Day Trading” is right for them, so stay tuned.

Visit my website at www.sniperdaytrading.com to learn more.

Good Trading, Vince  !

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Important announcement at the bottom!

Friday, October 16th, 2009

Today is Thursday, October 15th and the markets got a little closer to that overhead resistance.

Not a lot has changed since yesterday in the index’s, but just a little closer to what may be a temporary pause in the move up. The overhead resistance is just a little higher from where we have closed today and I would say that it is in striking distance for Fridays session. announcement

I see there is a little more work to be done to get to the 50% retracement mark, which is 1120 on the S&P. Currently prices are at 1096.50, which shows that it is not far off. The overhead resistance looks like it comes in at just around 1100 currently, which happens to be a large round number.

The market and its players look at round numbers and use them as an excuse to buy or sell and in this case, it looks like sell. The basic idea is, we are getting real close to a short term over-bought condition and if anyone is riding this move, just be careful, especially tomorrow.

I would not be surprised if we make a play for higher prices early on for the session and get a swift pull back off those highs. It may be we hang out at this upper range for a little while and move sideways to slightly down, giving itself more room to make another push to the mid way point. I would find it very strange that the market has been moving up for now on its 7th month and get so close to this mid way retracement area and fail before reaching it. So, just keep that in mind as well. Very interesting times.

Below today I have the turning points for my method in a 5 minute video. I apologize for not having the time up at the bottom, but the next time I do it, I will have that posted. I have pretty much stripped all of what I look at on my screen to a bare chart. I do have a custom trading indicator that I made as well as other things on my charts that I use to make up the trading screens that I trade out of, but those are not shown.

The turning points are shown and are the same as another video that I do, which do show exactly why and how those turning points are validated based on my trading method. It is very clearly defined and can be traded in live trading. These turning points are out of what I call my T-2 Trade Setup. I have a T-1 Trade Setup which is a scalping model and is very accurate while trading for 2,3 or 4 ticks. I really like this model a lot, because it is so accurate. I have a preset target at 3/4 point and my stop is the same. You could say this is a one to one ratio.

 I know there are a lot of traders who do not like this style or ratio of a trade. That is just fine, they don’t have to trade it, but I get to.  Works for me!  Granted, I am often better served by going for a bigger target when the setups present themselves and I do just that. If you don’t have the bigger swings because the trading day is just not putting it out, you will be left with really nothing worth while to trade and grow tired of seeing yourself get stopped out of your trades. But if you have “Old Faithful”, then you will always have a way to get your daily goal and not be subjected to market conditions as much as everyone else. 

 I teach traders to trade for a two point a day goal. If you are trading for income, I think that is all you will really need. What more money, trade more contracts, but only after you have built up your equity. Sounds reasonable to me, how about you? The idea is to do this every day and have the disciple to stop trading once you reach your daily trading  goal. Do you think you could do that? What if you picked up your daily goal in 10 minutes after the open or when you started trading for the day. Would you have the discipline to say, good job, well done, now let’s go do something else for the rest of the day? I could tell you that so many people would not have the discipline to do that. They are still in the infatuation stage of trading and trying to make it big. If you don’t control yourself, someone else will, other traders, as they take back what you took from them and then some.

http://www.screencast.com/t/uCnxyu9mt     Todays turn points for S&P 500 Emini Futures

New lower prices are coming out soon for my trading method, those interested please feel free to contact me at vinnie@sniperdaytrading.com  Complete package: Hard Cover Manuel (72 full pages) , 12 DVD’s, Audio C.D.’s for Mental Training exercises, Leather Bound Journal, Complete Version of Method Turning Points -E-Mailed Daily, Method Check List,  personal Consultation for as long as you need to understand the method. Posted on my updated website in less than two weeks. Those who can’t wait, contact me now and get a pre-release package.

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