Today is Tuesday August 31st, 2010 and I really think tomorrow is the day, we rally.
I have taken things a little on easy side lately, trying to enjoy the summer days as they are here. I have wanted to write and keep up with my blog, but the calling for time off was just a little greater. So, to those who are loyal followers, I apologize.
In today’s trading action, I was on pins and needles as we were coming into the close. I kid you not. I saw few things that told me, “if we did not rally up as we did, there was trouble for tomorrows open”. I remember it clearly, as these thoughts were traveling through my mind. I looked at everything and it all said, rally or die. We rallied at the close and I felt revealed.
The reason is, traders pick up on were the close of the day is. If it is on the lows, it sets the tone for many scenario’s. Program traders, Black Box traders and on and on. This would have had very negative signals for the coming weeks. There is a path down to S&P 945 and I did not want to see that happen. I am a long term “Bear”, just to let you know, if you didn’t already, but I just don’t think it is going to come when everyone else thinks it should.
We are going into the worst two months of the year historically, September and October. I can not tell you how many bad periods I have seen first hand with these two months as they are in-front of us. With that said, their is always the exception and what a better time then now for it.
This market has been very tricky lately in trying to fake out those who believe they have it figured out. It has waited to the very last hour of the very last day, to make a lasting impression on those who believe we are about to crack on down to lower levels from here. I tell you know, I could be wrong as I have stated before. We have not as of yet cracked as those who say we are going to, but have waited for the last 6 days in a very narrow trading range to either prove me right or wrong. It is just an opinion and is not going to change one dollar from my personal bottom line, but, I would like to get this call right in that I see everyone biting on the short trade right now and would like to be in the minority to better prove them wrong and share my insight why to those who follow my writings.
OK, I think you know I am short term bullish from here and am expecting a big rally as of tomorrow. I can’t see this going another day. It looks so right for a rally and or a crash. I can’t be blind to the fact I could have it wrong, even if I don’t think so. I always need to look to the other side. Even in a short term trade, you have to look to both sides. If you don’t, you could be blinded to what you want to see, rather than what actually is.
I made that one mistake today. I was tired in doing a phone session with a potential client and did not take a break, but just stayed at the screen and I started to see what I wanted to see. Almost like a mirage, and suddenly it appeared. In my delusion, I created a scenario of what I wanted to see, not what was. This can happen to any of us and it is not the first time or won’t likely be the last time.
By being over stretched and not fresh and or having little ability to exercise “The Power of Concentration” I am not surprised I tried to create a trade in my own mind. If you watch the video below, you will see the trade I was talking about. Looking at my trade indicators, you can clearly see that I really making a stretch for a long in the place I took that trade.
After I woke up from my slumber, I could see I was only dreaming. To take a long trade where I did, I must have been asleep. The other trades were OK, as they were all winning trades, but I could have done better there still. I did have to compensate for a bad entry by a couple of ticks, which I don’t really like to do. I should not be complaining as I had 5 of 6 and ended up very nicely for the day. I had one loss for 5 ticks and multiple points profits.
To finish up, I see this market has gone 6 days in a very small range and it is wound up so tight, it is just waiting to pop. The question is, which way. With the market sentiment so negative, I have to give the bias to the upside and say the surprise is going to come in with a big rally. I mentioned a few days ago that 1100 is strong resistance and we will likely trade up to that level pretty soon. Backing off from their a little is normal and a little expected, but if a break above 1100 S&P futures kicks in, we will see higher prices on top of that. So everyone knows what I am looking for, but will it happen. It is not the popular opinion right now and I am OK with that. Either way, I will make my daily goals when I trade because I will be reading current price action. That is the basis for my trading method. All trade indicators are secondary. That is a real big point and is exactly as stated. With that said, I am happy to have the trade indicators I use of which I only show a very small part of them as in the video.
I wish all my readers the very best. If anyone has comments or wants to ask questions I am very available to answer and would be glad to do so. Even if it is not about my trading method. Just ask and I will respond to you ASAP.
Today is Wednesday March 31st and the market bounced off some key support today, 1162, two times.
The S&P market is holding in there. It does not want to go down and not able to move up, for some time now. A big report is coming out on Friday, the unemployment numbers. The last report was the first decrease in unemployment since the recession started and a back to back positive reading is going to send a strong message to Wall Street. There are many traders and investors thinking only one way. That this market was going to go down. That is having tunnel vision and not usually a good idea. You need to stay open to direction and then interpret the price action to properly trade this market.
I know there are traders who are adamant about this market falling and they may be right, but it has made virtually a complete come back from the drop earlier in the year. If the unemployment numbers are good, it may spark a big rally just be ready either way.
The trend is up and holding, but five trading days ago, we traded at 1177 to the next days low of 1157 and we are currently at 1167, right in the middle. We have bounced up and down inside this range for the last 5 days. That is why yesterday I said that we will probably see inside action over the next day or two, “Containment”. This containment is only adding to the fuel that will be expelled once the market gives way outside of this consolidating range. I will show a chart of it tomorrow and explain a thing or two about it, so be sure to come back and get some insight as to the next big move.
In today’s trading I took 8 or 9 trades and did pretty well. I only had two small losses for a few ticks, the rest gains. I scaled out of the early trades and took an all in, all out approach for the last bunch. equity chart below.
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I have been talking in between various topic’s, like trading within your dominant trading personality. If you trade stocks and look at 15 bar charts, your pool or available trades are going to be limited, but your rewards are going to be much bigger than someone trading 5 or 1 minute bars. Your stops are going to automatically be larger based on your time frame, but everything about trading is still the same and is relative to the time frame you are trading.
That is because the stock market is fractal in nature. Some may not know what that means so I will explain. If you trade daily charts and follow a set trading method, you will have to wait for days as the bars line up to a desired formation or condition as per your method or system. Again, your rewards will be much greater than someone trading hourly bars, but your risk will be greater as well. The stock market shows consistent patterns inside of every time frame and can virtually be traded exactly the same in any time frame producing the same type of results, but with relative returns. I have an example of this fractal nature found in nature itself below.
This is the reason why it is important to trade within the time frame that best serves you and your personality and situation. With the leverage available through trading futures contracts, a trader does not have to trade for very large moves to make a good daily return, but he needs to be able to keep risks small and exploit market moves as they are given to him. Just as the price moves are relative to the time frame you trade, the returns are as well relative. By using leverage in the market you magnify your moves, positively and negatively or you could say, for you or against you.
It has been said, that the smaller the time frame you trade the harder it is. Now, why do you think that is? I think the reason is, traders are not conditioned enough to react as new patterns are presented to them. They are pron to make more mistakes and to over-trade. What can be done to change this. Practice and get the conditioning you need by knowing what to do and when to do it. Get the knowledge you need to exploit these price imbalances and live your dreams of trading for a living. There is rarely any way around paying your dues if you are going to attain this goal. Many forgo training and leave there results to a combination of idea’s, but never having a complete trading method, and road map to follow. If you are going to trade, you need knowledge and support.
If you become proactive in learning how to trade, you can trade stocks, commodities, forex or any trade-able investment instrument and speed up your learning by trading the smaller time frames. You will be forces to interpret the price action and follow what ever indicators you have if any, to gain the trading edge. After doing this, you will see that when you go back to higher time frame instruments, you will see, feel and know so much more than when you traded daily, hourly or 15 minute bar charts. In addition, you may find that this smaller time frame type trading is what you are best suited for all along. That is how it was for me, but it took years to figure it out on my own. I am just presenting the idea’s to those who have not thought about it.
Consider it a training boot camp as you get dozens of market conditions reads per session, capturing the trading edge.
Give it some thought, trade on and trade safe. Video of today’s turning points using tick charts, take a look.
http://www.screencast.com/t/NGJlNTJi Equity chart of today’s trades
Today is Tuesday, March 23rd and the market is still running strong +8 points on the S&P, +102 on the Dow and +22 on the NASDAQ.
Another nice showing for those on the long side of the market. Today the market did something that it does about once per month. I call it “Search and Destroy”. That is, the market makes a slightly new high, followed by a slightly new low, then a slightly higher high, followed by a slightly lower low and yet again the same. The price is taking out players just above new highs, hitting there stops and at the same time making those who play breakouts go long and taking them down. Both players long and shorts are getting killed when this happens, thus the term “Search & Destroy”. It is searching for stops and causing breakouts players to go long only to make them both loose. This is pretty brutal if you don’t know how to handle yourself. This was just a quick easy observation.
The market in general is designed to keep you guessing or it seems like that for most players, but there is a consistent element that runs through each day and those traders who know what to look for can take advantage of this.
By getting comfortable with this new language that I was talking about yesterday, traders will know when to enter long and or short with a high degree of accuracy. Trading for one to one (1 to 1) ratio is alright as long as you are right more often than not. In addition, when you have 2 or 3 to 1 returns, it makes it nice and keeps things simple. But two or three trades for 3-4 ticks each is “A OK” in my book, always has been and always will be. I only run a 4 tick stop on 95% of my trades and my average stop out is really only about 2 or 3 ticks. This is not an accident and can be learned.
There were a lot of nice easy trades today that could have been taken by those who know where to place there buy orders and where and when to get out. It all happens at the pressure points, like an acupuncturist at work. They find the points on you body that will release the built up pressure on the nerves and muscles. As they apply pressure to a very small defined area, the toxic build up is released and body feels better by the release of energy in that area. This is exactly how to read the price action as it relates to day trading. This is best I can do without going into it further, but the most important thing I have said about this topic since I started a couple of days ago.
In today’s trading, I only put on a couple of trades and was in the market for only a few minutes. In fact, I came onto the screen, looked at few things for a minute, went to my my scalp screen and waited for just a few moments, took a trade long for a nice quick gain and walked away. I was coming up into the New York lunch time, so I just left and said that I would return for a trade in the afternoon session. I did just that, looked at my screen for just a moment to see where we were at and place a trade short for another easy trade. I had in my mind that was enough, no struggle, just a quick small scalp trade and done for the day. I definitely could have taken several more trades and could have picked up 3-5 points more at least for the session if I continued to trade the afternoon. But what I had was enough for today. If I start early and traded the morning and afternoon session, I feel I could have picked up 6-10 points net almost any day. As I said yesterday, it is not about being over confident or cocky, but knowing how to read that trading language that could do it. I definitely need to respect the markets, for sure. The day I don’t is the day I will see a stop out day for myself of -4 S&P points if I take it that far.
Trading for most people is very difficult, but it does not have to be that way. Traders need to trade the easy and obvious. If it is not easy and obvious, then you should wait until you see a trade that fits that description. Don’t underestimate that last statement. That could be the second most important thing I have said the last three days, certainly in this post anyway. To often, traders want to live up to the scenario that I laid out above and it can hurt them. I can see the charts and read the language very well, and you can do it too, but it will take you some time to learn it. If you spend your time only following indicators, then you will miss out on valuable life changing skills, where money and earning a living are not as important because you have enough from the trading markets. That is only going to come when you understand the trading language and can read the daily price action with confidence.
If anyone is interested into learning this trading language and posses within them the ability to trade any market with confidence, then I would say, send me an email and we can talk about it. I have the time to pour my knowledge into those who are willing to learn. If this is something you are interested in, this is a good place to do it. You only go around this life once, fulfill your dreams, you will be glad you did.
Today is March 19th and the markets saw some nice price action from the start of the session.
That is where it began today, with a slight rise just after the open. It was like someone pulled the plug and down she went. The market was just in a continuation off the lows of yesterday where it put in a bottom and worked its way up to a double top formation just after the open. Sellers were there in force and the market dropped 15 S&P points top to bottom, 1165 to 1150 where it pulled up at the close to end the session 1156.
The market will be working against this selling pressure on Monday morning with a few more S&P points left to the upside before initial resistance comes in. So, we shall see. As day traders we need to read the market and interpret what we see. But trading is a little like chess, in that you always want to look out ahead and anticipate what your opponent will do next. That is fine, but just don’t be to convinced about every move. If something different happens than you projected, it can be very difficult to trade against an anchored believe, so hold your opinions loosely and interpret what you see as it unfolds.
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Traders, investors, institutions, move to position themselves in the stock market every day so that they are able to take advantage of price appreciation. Basically they want to make money for themselves and there clients, a worthy goal. Every investor or trader can not make money so there have to be people that come up short. How do we consistently become the ones that come out on top and pull this off ?
Study the price patterns and behavior of other traders. Since most traders and investors loose money, we don’t want to do what most of them are doing, that is clear. So how do we ultimately know when to buy and sell ?
The answers to those questions as stated is in studying the price. Price action is, first “price” and “action”, or price movement. Successful traders need to focus on price movement and that seems obvious to most, but this is not what often times happen. Trading indicators often take center stage, but it should be the other way around. Indicators are good, but not at the expense of studying the price patterns and behavior of the underlying issue.
It boils down to when to buy and when to sell, another obvious conclusion. The question is how much risk can you take to see your desired outcome? Traders to often take on more risk than they can absorb as there entries are far to lose. You need precision entries that are virtually spot on. Some may say, that is not possible and I beg to differ. There is always a small window of tolerance on any trade, but it should be kept down to a minimum if you expect to keep your loses under control.
For me, while I day trade the price action on the S&P 500 emini’s I rarely ever risk more than 1 S&P point. There is 4 ticks to a point each broken up into $12.50 incriments per contract. A trader needs only to find a few points per day to make a nice living, but you need to be able to really read the price movement, formations and tendencies all while keeping your stops to a minimum.
Being successful is also about knowing how to manage the trade after your order is filled. In a choppy market, you can not let the market move in your favor by several points and because you want more, hold out, only to see all of the gains that you had, suddenly evaporated and then some. A trader who expects to either supplement his income or make a living from day trading can not let something like that happen.
Today’s trading was a good example. I put on four trades towards the end of the day and the last one was at 12:30 pm West Coast. The market dropped off a ledge it was holding onto for several hours. It looked like a possible rally was at hand but things changed and down she went very quickly. I did go short at exactly the spot I wanted and scaled out at +2 ticks, +6 ticks and +12 ticks at the very bottom. I was in scalp mode and prepared to ride the momentum on that trade down. I was buying into weakness (to cover my short position at a profit) and held out until there was no more left in the move.
The point is, I am sure there were traders who did not cover and watched in just a few moments the move completely reverse, forcing them to cover at a lose. If you are day trading the price action you will not let that happen to you. I feel if you have good gains in any trade, there is no way you can let that trade turn into a lose. If you struggle to take your stops, you have other issues at hand which can be discussed in another post.
Price Action Day Trading happens every day the markets are open. This is the study of price movement or price bars in any time frame and that alone, no indicators or anything else. Most traders use indicators to help them see what the charts are saying, but a pure play is in reading the chart alone in this manner.
To day trade successfully you need to understand the key components of support and resistance, price action is apart of that at its core, learn this and you will be moving forward.
If traders have questions about this topic or any other trading topic, feel free to email me. I will be glad to answer your trading questions. Until next time, trade on and be safe
Get your free copy of my Branded E-Book, “The Power of Concentration”. There are 138 insightful, thought provoking and powerful pages directly related to day trading for a living.
It is of the utmost value to learn how to concentrate. To make the greatest impact on your trading, you must be able to concentrate your entire thought process on the venture at hand. The person able to concentrate, utilizes all constructive thoughts and shuts out all destructive ones. Concentration makes the will and intellect act in unison and means strength of mind, exactly what we need as traders.
Don’t underestimate how much of an impact this book can have in helping bring it all together; “The Profit Column”. Sign up for my FREE newsletter to receive your free e-book: “The Power of Concentration”
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?
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
tradestation.com
This is what I recommend to start your trading business. They are data venders and brokers combined. They are who I use and this is where you will have all the custom indicators I have recreated to help place your orders. They have been rated number one in many categories. They will provide the charting applications you will need as well as the broker exchange needed to place your transactions. Minimum to open Futures account is $ 5,000 dollars to trade the E-Mini S&P Futures.
ampfutures.com
AMP Trading is a great alternative to tradestation and offers a much lower dollar amount to open an account, $2,000. There day trading margins are a lot lower as well. They use the Ninja trading platform which will work with my method.
Economic Calendar
This is a good site to see what is coming up in the economic calendar. News releases, economic data, fed interest rate meeting announcements, etc.
shadowstat.com
This website gives you more of the real economic picture by publishing data that more clearly reflects the current environment. The work is done by John Williams and have found the site to be insightful in providing an alternative view of what is happen in the U.S. Economy.
market-harmonics.com
This site gives you contrary readings on a variety of investment instruments. One being Professional Investment newsletter writers. When extremes are reached, in market sentiment, a likely turn in direction is often seen. I nice little tool to measure market extremes.
intouch.org
This is a site I often go to which helps me grow in other area’s of life. It may not be for everyone as it is a Christian website to help those who are open to expanding there relationship with God. I am a Christian but I do not impose my beliefs on others, but for those who may be open to this line of thinking, I do find it a big help in numerous parts of life. It does relate to day trading in that being spiritually grounded is one more factor for those seeking to accomplish there goals in life. In addition, often we face struggles and challenges in numerous area’s of life, those difficulties can cause us to be so shaken that it will be carried into our personal trading efforts.
I particularly like to go to the broadcast section, then to radio archives and scroll through the topic’s to help with what I may be going through, you may find it beneficial as well. There is an area that has some great subjects that I believe are related to living your dreams and reaching your goals, which can be to become a successful day trader.
Go to Broadcasts, then to Radio Archives and click on March 2009. This area has 5 titles that I really like and they are all in one area. The titles are 1) Thinking our way to success 2) Time for success 3) Power of persistence 4) Belief brings success 5) Overcoming obstacles. The messages are about 15 minutes each part 1 & 2 and will give you inspiration and insight to help meet your trading objectives and life goals.
How Much Does the Sniper Day Trading Course and Mentoring Program Cost?
The cost of my Day Trading and Mentoring Program is only $1495. That is a bargain if you think about the life skills you will be getting. This is a lot less than so many others who do not even begin to offer what is included below.
I teach because I love the business and it makes me a better trader. Clearly defining my Trading Method and teaching it, is more like a joy than a job. That said, I do value my time and being fairly compensated for it, as well as the many years of market experience and insight is worth something, to me and others.
Success, is largely dependent on each individuals ability to stay focused and exercise discipline . If you can, you will succeed, because what I offer works, that there is no doubt. It will always work in the future as well, because it is based on price action trading, something the market does every trading day.
Take the first step in turning things around, I have the time to pour my knowledge into a few aspiring teachable traders, will you be one of them?
In business you get what you want by giving other people what they want. Business is as much a process of giving as it is of getting.
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’s & 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?
One who expects a decline in prices. A news item is considered bearish if it is expected to result in
lower prices.
Bear Market:
A market in which prices generally are declining over a period of months or years.
Bid:
An offer to buy a specific quantity of a commodity at a stated price.
CME:
Chicago Mercantile Exchange. This is where the Nasdaq and S&P 500 Emini markets are traded.
Contract:
An agreement made at a specific price for delivery on a certain day. The Emini Contracts are all cash
based. Also known as Futures Contracts.
Day Trader:
An active trader who opens and closes positions the same day and seldom hold positions after the
close. A day trader usually trades very liquid markets like the S&P 500 Eminis, Russell Eminis, Dow
Eminis, and Nasdaq Eminis.
Dow Eminis:
The emini futures market that is a basket of 30 stocks. It is the average of the Dow Jones Industrial
Average.
Emini:
A mini contract that is traded exclusively on an electronic trading facility.. E-Mini is a trademark of
the Chicago Mercantile Exchange.
Russell Eminis:
The Emini futures market that is a stock index of 2000 stocks.
Front Month:
The current trading month. The S&P 500 Eminis trade 4 contract months: March, June, September,
and December.
Futures:
Market trading in contracts to buy and sell a particular commodity at a fixed price on a certain date.
Limit Order:
An order to enter a position at a set price or better.
Market Order:
An order to enter a position at the next available price.
Mini:
Refers to a futures contract that has a smaller contract size than an otherwise identical futures
contract.
Stock Index:
An average of a basket of stocks, that are usually weighted, meaning some stocks have more “significance” in the index price than others.
Swing Trading:
Opposite of daytrading. Swing Traders speculate longer term on prices of stocks, futures, etc.
Tick:
The minimum price fluctuation price action can make. In the S&P 500 Eminis the minimum movement
is $12.50. So each “tick” is $12.50.
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