Posts Tagged ‘daily trading goal’

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Market Needs More Time to Get Into Position

Monday, November 15th, 2010

Today is Monday November 15th and we saw the market trying to stabilize itself with modest gains in the Dow +9 points and flat on the S&P.

Today we saw basically a flat market as a late sell off took the wind out of the markets sails. I can pretty much see where this market is now likely to go and when it is likely to move out on the daily charts. I can share the numbers with you but I can’t really show you or give you my reasoning behind it as it has to do with revealing part of my trade method.

The numbers and even more importantly the time is essential as we will likely see more of the same slow pull back over the next week or so. I know there are many who are now expecting a continuation of the move and it is likely to come, but their is more time that needs to pass. The chart needs to get into a better position by moving over and or moving down. The likely-hood is that we will see both. This is exactly what I was talking about last week when I was talking about trading as it relates to “time, space, and energy”.

There is support in this market and it is just above 11,000 on the Dow and 1175/80 in the S&P. That would give 15 to 20 S&P points more to go.  This is and will break rank in the accent of the uptrend and many will think that the move will be over, but I don’t think so. We don’t have to go all the way down to the numbers above, because if time takes us sideways, it may end up being a higher number once we turn the corner. Anything can happen and we will know pretty soon, but lets just give this market a little more trading time and see what it has in store for us.

In the intra day market, I am finding that paying attention to where the gap openings are and where they are closed is important. In addition, remembering where the past gaps are and which ones are still open. That can come into play and it is important to write it down in your journal so a quick reference can be noted.

Their is a balance that one needs when looking and playing gaps. Traders need to let the market tell them if a gap is going to get filled or not. Often times it does not come when we think it will or should. That is when you don’t want to argue with the market.

I remember looking back at the data for the open and saw that we had a reversal before the gap was closed and the market did move significantly higher. The gap did get filled but very late in the session. Understanding how and when the gaps will be closed is a function of understanding how to read the price. You will likely need to look at more than one time frame and I suggest to have at least one time chart up for determining where the gap for the day is, by using the symbol @es.d for the S&P emini in Trade Station.  That symbol takes the Globex night trading out of the data and shows you where the market opens minus that night session. You can see exactly where everything is that way. I don’t really trade off of minute charts but I like to have at least one up in the background, to see what others may be looking at and use this one as a dual purpose for determining the opening gap. Its easy to loose track of this without it and is why I point out how this may help.

I did not post over the weekend as I had company visiting for several days and still do. I do have my trades for Fridays market as they are next to today’s trades. Today’s trading started with my timing being off. I was distracted as company was still here and it totally through me off. I was forcing trades and trying to make something happen when I should not have. That is the long and short of it. I wanted to pick up a few points quickly but I was not willing to wait for the right trade time. That is one thing that will never change in what ever time frame you trade in. If I did not have, or was not willing to allocate the enough time to trade properly, then I should have not traded today all-together.

I look to have better timing in tomorrows session as making mistakes as the ones I have shown are a result of human weakness, my weakness and not my method. That part is comforting in that I always know that over future sessions, if I do the right thing more often than not, I will pick up the points I need for the session before I hit my daily stop loss point, -4 S&P points.  In the above last two sessions, you can see their are other potential trades marked as per my indicator and that just shows when and where a possible trade could have been taken. I don’t need much or many points to hit a nice daily trading goal. Some of the above trading possibilities are better than others but just have a few of them marked. Just remember, indicators are only a reflection of what the price is doing and that is what we trade.

Much success to my readers,

Vince

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Business Plan

Friday, February 26th, 2010
# Contract x $50 per x1 pt. x 2pts x 5 days wk = $ ——– Weekly Draw

1 x 50 dollars pt. x 2 pts x 5 days wk $500.00
2 x 50 dollars pt. x 2 pts x 5 days wk $1,000.00
3 x 50 dollars pt. x 2 pts x 5 days wk $1,500.00
4 x 50 dollars pt. x 2 pts x 5 days wk $2,000.00
5 x 50 dollars pt. x 2 pts x 5 days wk $2,500.00 $250.00
6 x 50 dollars pt. x 2 pts x 5 days wk $3,000.00 $500.00
7 x 50 dollars pt. x 2 pts x 5 days wk $3,500.00 $750.00
8 x 50 dollars pt. x 2 pts x 5 days wk $4,000.00 $1,000.00
9 x 50 dollars pt. x 2 pts x 5 days wk $4,500.00 $1,250.00
10 x 50 dollars pt. x 2 pts x 5 days wk $5,000.00 $1,500.00
11 x 50 dollars pt. x 2 pts x 5 days wk $5,500.00 $1,750.00
12 x 50 dollars pt. x 2 pts x 5 days wk $6,000.00 $2,000.00
13 x 50 dollars pt. x 2 pts x 5 days wk $6,500.00 $2,250.00
14 x 50 dollars pt. x 2 pts x 5 days wk $7,000.00 $2,500.00
15 x 50 dollars pt. x 2 pts x 5 days wk $7,500.00 $2,750.00
16 x 50 dollars pt. x 2 pts x 5 days wk $8,000.00 $3,000.00

This first 16 week section is the bedrock or foundation for going all the way. Not many people will be able to do this, I tell you that right now and up front. These results are not typical and I am not representing them as such. That being said, it is possible.

Just because most people do not have the discipline it takes to realize these results and the ones from below, does not mean it can not be done. It is up to the individual and their drive, passion, hard work and dedication to make this a reality for those that want it.

Many traders are quite satisfied to trade smaller lots and stick with that. I would add, it is easier to trade small size for the most part. When you increase contract size, it usually changes things for most people. Notice how I said, most people. Maybe you are not like most people and in-fact do not want to be put in a class with “Most People”. I don’t blame you, I don’t either.

What I am saying is, if someone does not lay out the possibilities to attain a specific goal, he will never know how to achieve it or even the idea of achieving it, will be foreign to him. So that is why I lay it out as such, for seeing the possibilities of what the exceptional could do.

The most difficult part in reaching this goal is not attaining the 2 points per day to acquire the results, but it is in the mental preparation and “mind games” that people allow themselves to become subjected to.

As you increase your size, there may come a point that you start to get affected by the money. You may say to yourself, “that is a lot of money, I don’t know about that, maybe I should trade smaller”. Here, the money is affecting your decisions and may start creating problems for your actual trading results.

In this case, it come down to personal choice and meeting your overall objectives. If your goal is to earn 200,000 a year at trading, that is a worthy goal. You may only need to trade up to a specific number of contracts and stop at that point. (The number of contracts to do that is 8-9 contracts at 2 points per day, that is do-able.) What you feel comfortable with at that time. As your account grows, you may feel more comfortable with increasing your size and you may not. Again, personal choice.

If you decide to go to the next level, it usually does get harder, but it is only in your mind. If you stick to the plane and do all the things I teach in my trading manual, listen to the mental exercises two or three times a week, which will allow the neuro-linguistic programming their to take effect and in addition, work on yourself as I explain, there is no reason why you will not have a shot at moving on to the next level.

17 x 50 dollars pt. x 2 pts x 5 days wk $ 9,000 $ 3,500 wk
18 x 50 dollars pt. x 2 pts x 5 days wk $ 9,500 $ 3,750 wk
19 x 50 dollars pt. x 2 pts x 5 days wk $ 10,000 $ 3,000 wk
20 x 50 dollars pt. x 2 pts x 5 days wk $ 10,500 $ 4,250 wk
21 x 50 dollars pt. x 2 pts x 5 days wk $ 11,000 $ 4,500 wk
22 x 50 dollars pt. x 2 pts x 5 days wk $ 11,500 $ 4,750 wk
23 x 50 dollars pt. x 2 pts x 5 days wk $ 12,000 $ 5,000 wk
24 x 50 dollars pt. x 2 pts x 5 days wk $ 12,500 $ 5,250 wk
25 x 50 dollars pt. x 2 pts x 5 days wk $ 13,000 $ 5,500 wk
26 x 50 dollars pt. x 2 pts x 5 days wk $ 13,000 $ 5,500 wk
27 x 50 dollars pt. x 2 pts x 5 days wk $ 14,000 $ 6,000 wk
28 x 50 dollars pt. x 2 pts x 5 days wk $ 14,500 $ 6,250 wk
29 x 50 dollars pt. x 2 pts x 5 days wk $ 15,000 $ 6,500 wk
30 x 50 dollars pt. x 2 pts x 5 days wk $ 15,500 $ 6,750 wk
31 x 50 dollars pt. x 2 pts x 5 days wk $ 16,000 $ 7,000 wk
32 x 50 dollars pt. x 2 pts x 5 days wk $ 16,500 $ 7,250 wk

So, you decided to go for it. You will need support. NO DOUBT. Trading for Big Money does not come easy. When things get a little tough in this section, you will need someone to help you through.

I offer support long after the purchase of my course and anyone scaling up their contract size over time is going to need help in keeping perspective, clarity and focus when targeting higher objectives. This is not an option. If you need and want much more time to attain these higher goal objectives I am sure we can work something out. Just let me know.

I currently have a small group of traders and do plan to grow, but I am not interested in growing into very large group. This way, I will have time to address individual needs from traders as the process of meeting their daily trading goals unfold.

33 x 50 dollars pt. x 2 pts x 5 $ 17,500 $ 7,250 wk
34 x 50 dollars pt. x 2 pts x 5 $ 18,000 $ 7,250 wk
35 x 50 dollars pt. x 2 pts x 5 $ 18,500 $ 7,250 wk
36 x 50 dollars pt. x 2 pts x 5 $ 19,000 $ 7,250 wk
37 x 50 dollars pt. x 2 pts x 5 $ 19,500 $ 7,250 wk
38 x 50 dollars pt. x 2 pts x 5 $ 20,000 $ 7,250 wk
39 x 50 dollars pt. x 2 pts x 5 $ 20,500 $ 7,250 wk
40 x 50 dollars pt. x 2 pts x 5 $ 21,000 $ 7,250 wk
41 x 50 dollars pt. x 2 pts x 5 $ 21,500 $ 7,250 wk
42 x 50 dollars pt. x 2 pts x 5 $ 22,000 $ 7,250 wk
43 x 50 dollars pt. x 2 pts x 5 $ 22,500 $ 7,250 wk
44 x 50 dollars pt. x 2 pts x 5 $ 23,000 $ 7,250 wk
45 x 50 dollars pt. x 2 pts x 5 $ 23,500 $ 7,250 wk
46 x 50 dollars pt. x 2 pts x 5 $ 24,000 $ 7,250 wk
47 x 50 dollars pt. x 2 pts x 5 $ 24,500 $ 7,250 wk
48 x 50 dollars pt. x 2 pts x 5 $ 25,000 $ 7,250 wk
48 x 50 dollars pt. x 2 pts x 5 $ 25,500 $ 7,250 wk
49 x 50 dollars pt. x 2 pts x 5 $ 26,000 $ 7,250 wk
50 x 50 dollars pt. x 2 pts x 5 $ 26,500 $ 7,250 wk
51 x 50 dollars pt. x 2 pts x 5 $ 27,000 $ 7,250 wk
52 x 50 dollars pt. x 2 pts x 5 $ 27,500 $ 7,250 wk

If you are on a quest for greatness, this section is where it happens. You will need all of the things mentioned in the section just above and now, more. If you are able to continue scaling up your trades and get an occasional day that you bring in 6 or 8 points, say two or three times a month, this will insulate you from the occasional day that you get stopped out at your daily loss limit. (-4 points) Having a daily loss limit is so important, I cannot express it enough. YOU NEED TO CONTROL LOSSES.

That is what is always needed at any stage. There would not be any reason to consistently trade for your daily goals and in one day or week, loose a ton or ground and cash. That is what happens to traders all the time. They make it fast and loose it faster.

You need to make it slow and hold on to it. In my trading manual, I lay out all the specifics on how to go about doing this and again, you will need some kind of additional support.

When you start out at week 2, after your 1st week warm-up, you will be risking $100 (1 point, $50 pt x 2 contracts) against an account of say $5,000, an average opening balance for many people. That represents 2% of your equity per trade taken.

After the second section from above, if you are still on course, your risk per trade is now down to .85% per trade taken. Very Good, considering that you have been taking money out of your account. After the third and last section, if you are again still on course, your risk per trade is down to a touch over .50% and that is outstanding.

Overall your risk is going down all along the way and you are taking cash out of the market. By doing this, you are lessening the impact that the money will have on you. You do not have it all on the line, something a gambler would do.

This is the reason why, I do think it is possible for the exceptional to achieve results similar to this. It, by any means does not happen very often, but again, do not let that hold you back. Just because others have tried and not been able to do it, does not mean that has to be transferred over to you, does it?

I DON’T THINK SO! and you shouldn’t either.

Trading for as lofty of a goal as described in this section is again not easy and it may be as previously stated that you trade up to a specific number of contracts and “Hold the Line, Stay with Me”. A famous line from the movie Gladiator. Sorry there, a little off subject. The point is, this plan is not for everyone.

A very attainable goal, is to start trading just one contract for the whole month. If you have averaged 2 points per day, high and lows, then you increase your contract size to two, for the month. If you do not get to a net 20 days x 2 points per day, you stay at one contract until you do. Then you can move on to three and so on.

If you stay close to this plan, with conservative daily targets of 2 points + an occasional windfall 6-8 points once of twice a month, you will be trading 12 contracts and on pace to making over $250,000 a year. That is making it slow and holding on to it.

For so many others, it will only seem like a dream and those that have failed will tell you, “It can not be done”. Don’t let anyone’s negativism take your dream. Back in the day, others who knew what I was doing tried to do just that to me. If I would have listened to them, where would I be know, no where close to what I have achieved.

In closing, I believe that trading for 2 points per day is achievable and feel totally confident in my approach in getting it. I don’t currently trade the size I would like, but that will soon change. Getting my daily goal and helping people get theirs has clearly defined my objectives at this time.

Good Trading to All

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Friday, February 26th, 2010

If you have 60 to 90 minutes a day, a computer, risk capital, the Internet, mental discipline and “Sniper Day Trading”, I believe you may have what it takes to attain financial and time freedom by Day Trading the E-Mini Futures.

Emini Course and Mentoring Program

In my Emini Trading Course, I show you how to utilize a “Sniper Trading” type approach using my tested method to earn at least 2 points per day from the markets. You could learn how to make consistent profits in good or bad markets. Our method focuses on high probability trading, delivering you your points for the day. Day trading for a living does not have to be hard, if you have the right method, plan, course of action and someone to explain it to you in a live market trading environment.

Price action, is driven by emotional buying and selling decisions for a variety of reasons, all of which are present in the current price at any given moment. Our job, is to find the turning points that exist in each session through precision market timing. These turning points are present every day the markets are open. Sniper Day trading will teach you to clearly spot where these turning points are, using a trading mastery type approach. These points show up like consistent “Sniper” shots on your trading screen and are clearly defined by using the custom tools I have created.

We strive to teach our students to learn price action apart from indicators or tools, but they are helpful to point out what may not be seen in the beginning. I am sure what I have in full is not being taught by anyone and is unique to me and the many years I have spent developing and now clearly defining the “Sniper Day Trading Method”. The signals generated by my method will produce the same signals to anyone who is following it, there is really no gray area, only which trades you decide to take and which you let go by.

Sniper Day Trading Method

We trade with tick data and use multiple time frames in timing our trade entries. I have three different styles I trade and bring them up as the price action dictates. One is a “Scalp Trading Method”, (T-1 Trade) that is very accurate in picking up 2,3 or 4 ticks on the S&P. My stops are such, that this approach averages a one to one risk/reward ratio, but enjoys a very high percentage “Win/Loss” ratio. This is bread and butter for me.
The second style enjoys the benefit of my “Precision Turning Points” model, (T-2 Trade) and is usually traded with multiple contracts. The first part is scaled out around 1 point, which quickly brings me to a no loose position and the second half is usually allowed to run. I have four incredible ways to get out, all of which act independently of each other, but are uncannily similar in their results.

The last, is a “Pyramid Trading Method”, that when conditions are right, you are able to keep your first risk small but scale into the trade, adding positions in the direction of the trend, but only at very low risk entry points, keeping your stops down to 1 S&P point. Each one of these methods are very clearly explained in my 80 page trading manual and followed up in the DVD training part of my course. They will also be gone over in our live trading sessions.

While only needing to pull 2 points after commission per day out of the market, (8 ticks) catching a few scalp trades or a T-2 trade, is really all you need to hit your daily goal. I believe in setting realistic goals, which increase your chances to meet them. By having a clear mind, a solid trading plan, with position sizing risk limits and rock solid money management, you come that much closer to trade your way to financial and time freedom.
Examples of two typical trading days back to back, applying the Sniper Day Trading Method. It only took about 20 minutes to get my daily goal plus on both of these days.

Mental Discipline and Trading Psychology. I have told you what I can offer to you, but this is not all you will need for success. I am convinced that my method, custom indicators and complete approach could make the aspiring trader profitable on a regular basis, but do you have what it takes? Trading psychology plays a huge roll in all traders, whether they know it or not. You have forces constantly working against you. Success is only going to become a reality to you, if you have the qualities needed to pull this off. What you are going to need is * Discipline * Patience * Ability to follow rules * Control your fears * Get a grip on personal greed. Frequently, I talk about this in my daily blog, because they are too often why traders fail to reach their goals.
I offer a lot of support in this area as well, if you are a struggling trader and want to change, I have the tools, method and know how to likely turn you around, so that you can create the consistent income, free up your time and fulfill your dreams in becoming a successful day trader.

Mental Exercises

In my program I address some of these issues in a series of “Mental Training Exercises” that I have put together. They are designed to get your mind thinking and believing that trading for a living and meeting your daily trading goal is normal, natural and the only outcome you will accept. The titles in the first series are; * Financial Freedom * Positive Risk Taking * Holding your concentration while trading * Achieving your Trading Goals. The titles in the second series are; * Overcoming Trading Obstacles * Controlling Emotions while Trading * Overcoming the Fear of Failure * Creating Hope & Success.

These I believe are very powerful and are in, “the first person” and will become personal to you. They are a form of Neuro-Linguistic programming that can take you farther and bring you closer to meeting your trading goals. They are, in written form and in audio CD and created by me. My plans are to continue to expand these in the future and make any new additions available to students who come on board, all at no extra charge. These training series are specific to traders and cover issues they face.

Solutions for traders, Sniper Day Trading

I realize that not everyone is born with all the qualities a successful trader will need, but I feel it can be learned if you want it bad enough. Ask yourself, how much do you want to become a consistent successful trader ? The answer to that is going to make all the difference in the world.

I know personally the things that hold traders back from bringing it all together and I know exactly what to do to help them change. I believe I can help the struggling trader as well as the trader who has never done this before.
I can set you on a course that is tailored to your experience level and walk you through everything needed and expected. The good part is, you won’t have to go it along. If you have any question, I can not only answer it, but help you apply it, to get the results you will need. Our daily goal is not to hard to hit, 2 points + per day. We can take a conservative approach to help you get that goal regularly.

If you are honest and know you need help and are willing to work hard and change what ever you have to, then I am sure I can help. Trading for a living is possible, but you need to do different, be different and think different from the majority of other traders. If you first commit to yourself these things, then I will commit to you, which will bring you one step closer to the success that we all strive for. Lastly, I want to assure anyone with doubts, my method, straight up works. The only question that remains is, will you move forward and decide to make it work for “YOU”.

Price Action Day Trading

“Price Action Day Trading”, is the key to your long term success. The markets do something everyday that is consistent since they began trading, over one hundred years ago. It exists in all time frames and gets played out on trading screens across the globe each day. It is important to understand and learn, “good price structure” and how it is built. That is what I teach and that is what students get when they partner with me at Sniper Day Trading. The key is learning what to do and when to do it and why. If you don’t know the answers to those questions you will eventually fall short. Many traders use indicators to help them and that is OK. I have them and use them also, but I do not base my trading decisions on the indicators. I base it on good price structure and trade setups that happen over and over, day after day. Traders and investors are very predictable, they base many of there trading decisions on emotion. Knowing slightly ahead, how they will react when certain prices are reached and breached, give us the trading edge we look for. With that said, the indicators magically line up with our trading decisions which can give us the added confidence to put our money on the line.

Below is a typical trading day where you will see the trading, “Turning Point”. I have stripped away everything from the screen except two things. There is much more, but I just want to show you that the indicators line up with our turning points. Which came first the chicken or the egg. The chicken and that is price. Price is always first and the indicators are second. That being said, the indicators can help traders see what is already on the trading screen. I hope this explanation helps clarify in the minds of seeking traders that what we have and do is real and works.

What You Get With Sniper Day Trading

  • My E-Mini Trading Manual (hard copy 80 full pages) with future updates. (very nicely done)
  • Complete DVD video training package in very nice hard cover locking case / extra: will include method applied to stock trading.
  • Method explained throughout the week, with full screen video and audio illustration in both the T-1 and T-2 screens, “Turning Points”. Very powerful part of ongoing training. (This service will be included ongoing all at no extra charge)
  • All custom chart settings to build your trading platform and help by me if needed to set it up.
  • All of my custom and modified indicators I created, that will unmistakably identify my “TURNING POINTS” for the T-1 and T-2 trades, when applied to the method.
  • Method checklist work-sheet ( for examining trades against method).
  • Laminated 8×11 “Method Overview”, to pin up over trading screen. Laminated 8×11 “Mental Exercise Overview” pin up over screen.
  • Mental Training Exercises: eight titles – audio CD and in written form. On-going future title releases no extra charge.
  • Leather bound “Trading Journal”, to help you keep your thoughts, progress, questions and answers.
  • I will personally work with each trader by screen sharing technology and voice of I.P. through SKYPE, in a live trading environment. After you go through the material, we will set appointments for our personal sessions together. We will apply live market data to the method and I will show you exactly what to do and how to do it. The manual and video’s will give you a head start, but working with me personally will undoubtedly bring it all together. I will spend as much time as needed with each trader who comes on board until he or she understands the complete trading method.

If in the future if you have questions, I will always be here to discuss them and go over your charts to help point you in the right direction. I am not just selling my trading method, but offering much more, mentoring and getting you profitable. Traders often face mental barriers that hold them back, but they do not know exactly what it is or why they consistently make the same mistakes over and over again. I can uncover the problems here, find the solutions and set you on your new course.

My goal is to get each trader that joins with Sniper Day Trading to book at least 2 points per day and gradually increasing contract size to a desired income goal. I will do my part as stated above, will you do yours?

ORDER HERE

Important Notice – Risk Disclaimer:

Futures Options trading has 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 e mini trading system or methodology is not necessarily indicative of future results.

Daytrading Involves High Risks and You Can Lose A Lot of Money.

Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under or over-compensated for the impact, if any, certain market factors, such as lack of liquidity. Simulated e mini 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 those shown.

Additional Cautions

There are no guarantees or certainties in trading. Reliability of trading signals for mechanical systems are in probabilities only. Trading involves hard work, risk, discipline and the ability to follow rules and trade through any tough periods during the methods off times (and all methods or systems have off times) – If you are looking for guarantees, trading is not for you. Most people lose trading. One of the reasons is that they are not consistent and lack discipline. A method of system can help you become consistent, BUT you have to stick to the method like a formula. The ability to be disciplined and control your emotions is even more important than any technical indicators a trader may use. Worrying about the money aspect of trades (which is an emotion) can contribute to and cause a trader to make errors. It is important to trade only with true risk capital. You can find further information at: www.sec.gov

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Beginner’s Info

Thursday, February 25th, 2010

Before you start trading, it is very important that you know what it is that you are doing and what you are trading. It is similar to trading stocks but at the same time, very different. There is a definition of terms for those who need to know the basic language in the glossary.

We are trading the S&P 500 E-Mini Futures contract. This represents a shadow or a mirror of movement in the S&P 500 cash index. Traders and institutions across the globe buy and sell contracts with each other. For many, it is a hedge against a portfolio they own and sell contracts equal to the value of their portfolio as a form of insurance. Pension funds and large institutions do the same as well as mutual fund managers.

They are buying and selling protection in the form of contracts against the Index. To do this they need a very liquid pool of futures contracts to draw from and that is where the trader comes into the picture. He or she may not want to hedge their portfolio, but may want to speculate on the future direction of the market. Traders are an essential ingredient to offer the liquidity that the institutions need to quickly move into and out of the market.

I once heard a man ask a trader what he does for a living and his answer was, “I am an asset liquidity provider, how about you”. That statement is true. That is what we do.

Each contract traded represents 50 times the current value of the index. Lets say that the Index is 1000, a nice round number. Multiply 1000 x 50 = $ 50,000 and that is the value of one contract. If the index was trading at 1100 the value of the contract would be $ 55,000. You need to put up a deposit for the right to buy and hold a contract. If you hold the position over night, you will need about $ 5,000 deposit. If you close the position at the end of the trading session the margin will go down to about $ 1,250 for one contract.(day trade margin)

At Sniper Day Trading, we trade for a modest daily goal most days, between 2-4 points. The S&P 500 emini futures trades in ticks. There are 4 ticks that make up one point. Each tick is $12.50 and since there is 4 ticks to a point, one point is $50, 4 x $12.50= $50. If our daily goal is capture 2-4 points we are trading for $100-$200 dollars per contract traded. With an opening balance of $5,000 you could conceivably buy or sell 4 contract. So to use the example above, 4 contracts traded x 100 to 200 each contract, you would be making $400-800 per day.

We don’t recommend that traders start trading the maximum, but start at the smallest and work your way up. It is possible, averaging 2 points per day that in 4 weeks you could be trading at 4 contracts and bringing in the kind of money above. You can stay at that level or increase it over time. What ever you feel comfortable with. You may decide to go slower and reach that level in 2 or 3 months and that is OK. The main thing is averaging that 2 points per day over an extended period. It is very possible, people are doing that and more all over the country and you could to.

On the main page we talk a lot about discipline, patients, and focus, all essential things for reaching your goals. But first you need to know how to trade. I offer that in my course and if you decide to become part of the family, I will see to it that you understand my trading method and how to apply it.

When we put on a trade, we teach how to enter at just the right moment as the momentum will carry you higher or lower which ever way to you are trading.

Make Money as prices go up or down

Which brings me to my next point. You can make money in either direction, up or down. Often, prices go down a lot faster that they do going up. The principal works the same. When you put on a trade that is going up, we would call that a LONG TRADE and when you put on a trade that is going down, we call that a SHORT TRADE. We teach how to take these trades in a clear concise way. No gray area.

When we take a Long Trade, we Buy to Open / Sell to Close

When we take a Short Trade, we Sell to Open / Buy to Close

There is always someone on the other side of the trade to take the position, the price is the only thing that changes. If you sold the futures or “Shorted” the market at the S&P price of 1091 and you covered the trade by buying it back at a lower price at 1088, you just made a 3 point profit of $50 X 3 points = $ 150 dollars per contract traded.

Remember that each tick is broken up in quarters and 4 quarters make up 1 point. You can think of it like 4 quarters make a dollar, but in this case, it makes $50, because each tick is worth $12.50.

Commission cost for the transaction varies on the broker but the typical costs is about $2.00 to buy one contract and $2 to sell one contract. The complete transaction is called “round-turn”, buying, then selling.

TIME CHARTS

When building our charts on the screen, we use tick data. Tick data is different than time data. Trading in a one minute bar chart is the smallest increment of time that you can use. When using TICK CHARTS, you can create a much more detailed view of the trading history. It is through this trading history that we are able to draw up our entries in this much more detailed view. It allows us to enter at the exact point, Sniper Style, to hit our mark. Get in, Get out, Get done.

We teach precise entry and exit points using these tick charts and with the ongoing training you will always see the method applied to current data.

Above, is an example of a Candle Stick Chart. These are typical setups for us, as you can see the entries short and then long. The first trade was good for 1 to 2 points and the second good for the same or higher.

I usually follow bar charts that have an open, high, low and close to them, as shown above. Some people like using candle stick charts and that is a matter of preference. Candle charts have a wider body and make it a little easier to see the open, high, low and close, but using tick charts, often we need the screen room to see the complete patterns developing as well as one feature that I use to help visually see the change in direction. Often, this change in direction matches the other components of the method which helps to confirm our entry, LONG or SHORT.

Different Types of Orders

There are three main types of orders used in our style of trading. There are “Market Orders”, “Limit Orders” and “Stop Orders”. I use all three of them at different times for different reasons and explain it all in my course and mentoring program.

A market order, in our style of trading is typically used to close positions that are still open. Others may use them to start a position but we don’t often do that. It better serves us to use this order when we have an open position close to our stop loss and decide it is better to close the position and the protective stop at once. Both done with one click of the mouse at the same time.

A “Limit Order”, is an order to buy or sell at the specific price that we specify. See the example below. There is a blue column, the “Bid Size” and red column, the “Ask Size” This is where I place my orders. By clicking inside the blue column, price 1091.50, I am willing to buy at that price only. When contracts become available from the other side, the red column, my order is filled and I will have gone “Long the S&P emini futures market”. The opposite is true for “Selling Short”. This is an example of buying or selling with a “Limit Order”.

The last order type, “Stop Orders”, are usually used to protect a trader from incurring a greater loss than what he has predetermined ahead of time. For me, it is 1 point or less on all trades I put on. ($50 dollars per contract traded or less). That is the maximum loss and is set automatically at the time I click the order to buy. No need to do anything else. You can set predefined limit order targets and they can go up at the same time as your order entry as well. One click of the mouse and the rest of the entire process is complete. You can even stagger your “Limit Order Targets” if you trade more than one contract, say 1 point and 2 points. If the first one gets hit and filled, your stop loss will automatically adjust itself to only protect now the remaining half of your open position. Nothing else needs to be done, but just the one click order entry, period.

This is a very nice feature for those who may lack discipline in placing their stops and targets when and where they should after they enter the market. You can even use the one click feature just explained and use a “Trailing Stop Loss”. This will automatically move your protective Stop Loss up with say a rising market. You can set a trigger point, say its one point. When you reach that one point level you sell half your first position, every tick the market rises from there, your stop will rise by that much, keeping a 4 tick stop position. If the market had moved up 3 points quickly and came back 1 point, you would automatically sell your remaining position at 2 points, locking in your profit. This is because you preprogrammed it to do just that. This again is a great way to capture more profit in a fast moving market all automatically. The only thing that starts the process is just the one click of the mouse. Done. Very Cool. I, most often do it manually, but that is me. I can show you how to set this upin a blink of an eye and teach you to effectively use this feature.

Different Types Of Trading

There are different types of trading. The three most common, “Day Trading”, “Swing Trading” and “Position Trading”. Day Trading is what we do, because we never hold any position over night and make a few trades inside the daily session. Swing Trading, will carry positions over-night and hold those positions for several days. Position Trading, will hold similar trades but for several weeks or months.

Inside of Day Trading, there are several approaches as well. We look at three main tick charts, separated by small, medium and large time frames. Depending on the traders preference, if he or she has one, we can tailor our program to match your current trading style, or mirror what I am using for my trading. In our first meeting together, I will be able to help you discover what is the best time frame for you to start with. Naturally, I will show you how I set up my charts and fully explain the way that I trade. After that, we can go from there.

Scalp Trading

Scalp Trading, is often misunderstood. There is really no set definition that will clearly define it. It may mean one thing to someone and something else to another. That said, what I most often do is Scalp Trade the S&P 500 futures emini market. You can trade other markets like the Russell, the NASDAQ, or the Dow Jones. Each has an emini futures market that is liquid and very trade-able.

When the trading range is very narrow, scalping 2, 3 or 4 ticks, may be all the market safely gives you, without waiting around hours for a good trade setup. This is how I would define Scalp Trading.

With our base daily goal of 2 points or 8 ticks, you only really need say, 1 trade for 1 point and two trades for 3 ticks and that would also cover commissions and you are done for the day.

The setups are the same in the smallest time frame, as compared to the highest time frame, because the market is “Fractal” in nature. That means the same patterns and setups occur in all time frames across the board, showing a trading symmetry that is often seen in nature, below is an example of that.

With my trading approach, we are able to capture what the market is giving us. If the trading range is expanding and large swings are showing up, we can capture those moves for multiple point returns.

Scalp Trading, gives you the ability to save time in your trading, by getting in getting out and getting done with it and on to other things. I don’t trade all day, like many do. This style of trading offers the “Time Freedom” that many covet. Having the Trading Discipline to walk away after hitting our Day Trading Goal is key in keeping the struggle to a minimum.

Getting what you need from the market, is like shopping for fresh meat and produce at your local supermarket. If you try to stock up on too much, it will go bad and you will lose it all. I find the same true in trading, getting what you need for today is a better approach and produces trading discipline, controls greed and keeps the traders struggle manageable. It is a lot easier to get 2-4 point in a day verses 8-10 points in a day. When you are not able to reach this high trading goal, it will produce frustration and feelings of failure can creep in, derailing all of your efforts.

Controlling Fear and Greed

Many traders just starting out, soon discover that they have almost what seems like uncontrollable trading emotions. They find it difficult to stay focused and maintain control. Often, traders find themselves trading with their minds to focused on the money. That is a sure-fire way to slow your progress and often ruin it entirely.

Most traders have gone through this, but most don’t know how to break the bonds of these powerful emotions, Fear and Greed while Day Trading. The good news is, I do know and is very much apart of the Sniper Trading approach. These are things that I uncover and address to my students and take this part very seriously. Starting out, many are not even aware of these dangers, but that is my job to prepare you for any unforeseen problems that can come between you and your modest daily trading goal each day.

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Day Trading and Power of the Mind – Free Book Offer -

Monday, February 22nd, 2010

Hello, Today is Monday February 23rd and the market is still trading while I write this, currently up 3 S&P points.

So far with 30 minutes to go, the market is holding up. The volume has been so slow, just now at 1 million contracts and 30 minutes to go. I can not remember a regular session being that slow, even back during the holidays. With low volume and movement, you have less opportunities to profit. That is why I feel it is important to be able to scalp a few points out of small trading ranges. Often, that is all the market is going to give you. You can always elect to sit it out and wait for things to improve but if you don’t have patience enough to do that, you may be tempted to trade in an environment that you are not trained for. The best course of action is getting trained for it, so that if you find yourself in it, you will know what to do and how to do it.

Scalp trading is not for everyone, that is true. It can be better for some to wait for moves that are for several points, but as I said, you don’t always know when they are coming. If you blow your opportunity, you may have to wait now for hours. Do you have the patience to do that. The answer for many is “No”. That was and is my answer too. I don’t want to wait for two hours to take one trade and wait another 2 hours for the next trade. I don’t need to hit a 3 to 5 point trade to come out on top. Three one point trades counts just the same and with the trading leverage tied to the emini’s, you really don’t need much. To me, two to four points per session is plenty. If you can average just the two points per day, that is 40 points in a trading month. Some days you will have more points and that can make up for the days you get stopped out for the day. I have a 4 S&P point daily stop out point. This ensures that if I am having a bad day, that I don’t do any really bad damage to my account. Getting the upper end of my daily trading goal, is always nice at times. This also protects me from any day that I may come up short.

I was working with someone earlier this morning who was having a little trouble. After our session, he saw things much clearer and had a new sence of confidence, always a good thing. His confidence reconfirmed in the method he had learned and trained on, but needed a little guidance and one on one time. After our session he took three trades for 3 points in an hour. I felt happy for him, but better than one days profits, he has a clear picture of what he is looking for and how to go about getting it.

In todays trading, I took a few trades, nothing earth shattering and could have done better, but it was enough. Trades are as follows; flat, +4 ticks/+5 ticks, -1 tick, +2 ticks/+2 ticks, +2 ticks/+1 tick. The last trade was the only counter trend trade that I took and am trying to take less of them these days. The bigger move came from just above my last trade short and was what I was seeing, but decided to not trade any more and let it go. Tomorrow is another day.

Just a reminder, it may still be a little while before I get the “Free Book on Concentration” up on my website. If anyone wants it now, just email me. It is very good. It pertains so much to trading and what we do, that I am sure it will help every trader who reads it with an open mind and applies its principles. When you start reading the first chapter alone, I believe you will be impressed.

Day Trading has much more to it than getting the entries down and knowing where to exit. You will discover so much more about yourself than you ever thought you could. Some of it good and some of it, not so good. It will bring to the surface all of your weaknesses and expose them, to yourself.  Unless you know what to do with that and how to adjust, you will eventually be working against yourself. Why would we allow ourselves to do this. Well, many traders do not realize how the mental side of trading is always at work here.  The path of least resistance is to do the wrong thing at the wrong time.

Having the mental clarity, focus and mind power to do what you should do and when you need to do it, is imperative while trying to trade the markets. If you find yourself listening to competing voices in your head, second guessing yourself about every trade, not allowing the market to work for you instead of against you, as so many traders end up doing, you will struggle. 

 I too have to watch myself in this area and need to be in the right state of mind when I trade. So, as I have stated before, I am often times talking to myself while I am sharing with my readers. I know what it is that I need to do and want to be sure not to go outside of that. If I am in the red, I am very confident that I will come back, but should not be looking at or dwelling on my past loss at that time. Traders to often, trade with their P&L in mind. It is hard to have the right perspective when money is on the line. The best place to be in when trading, is not having to need the money. If you need the money and the trade, you will be trading from a position of weakness, not strength. That is a mindset and often an economic reality for many. Try and get yourself out of that position and trade from a position of strength.

Mental preparation can make all the difference in the world. I strongly encourage any trader who is serious about making consistent income from the markets, to get my free book. If the book is all you want, that is all I will give you, if you want some advise, I can give that to you as well. (Free)

You have a lot to gain, if you have not considered the real impact, the power of your mind can have on your trading results. You have everything to gain and nothing to lose from asking for it. I have sent it out to some who have requested it and will report back here on how they liked it and how it has made a difference in there trading.  

So, until then, Good Trading.

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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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