4-26-11; Markets Rally on Que.
Well, the markets rallied strongly, as mentioned in yesterdays posting. I wont’ rehash it all, but said that we were ready to rally. The last call short for 25 S&P + points bounce right off called support and rallied as I said it would. Then said that today the market would rally big and it has. Well, the rally for now holds, so we will see what happens to the rest of it. No trading again for me today as I will be ready tomorrow. Good Trading to all.
4-19-11; It looks like the downside target was met and we are seeing the bounce up off of support, close enough. With today’s rally, this short term low is significant. If it holds there may be more strength in the market’s, but if it breaks on a closing basis, we could see trouble. Well, my trades from today’s market. We will pick it up again Wednesday.
| 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
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.
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.
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.
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.
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”, 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.
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.
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.
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
My name is Vince Tarantino and I am the originator of SniperDayTrading.com. Below is a little about myself and how I got started in the business.
I started following the markets in the early 1980’s. I was young and just getting started in raising a family, so my capital to trade or even invest was very limited or non-existent. This did not stop my interest in trading. I started to read a lot and observe what was happening in the financial markets. I remember in the early 80’s the Dow trading up to a new milestone of 1500. Many thought it would never last, but it just kept going higher from there.
The 1987 stock market crash did not surprise me. I saw the over exuberance and euphoria that I had learned about, but not personally experienced, until that time. Even back then I always looked at market psychology and how it relates to trading.
We were in October and the market was waving a big RED FLAG to me, saying sell, sell, sell. Within one week, the market sold off in a large way. I had a small put option position in Phillip Morris. It worked out well as the market dropped and I made a very nice return.
In the early 90’s, I saw the recession coming and the subsequent market drop from that. Market sentiment was so bullish it only told me another big drop was at hand. Within a week, the market broke support and the sell off was underway.
Just after the early 90’s recession, I was laid up with a back injury and had a lot of time on my hands. Thinking what to do for a new career. What better field than a stock broker, I thought. I found a small brokerage company who sponsored me and became a licensed stock broker passing the series 7 & 63 tests. This was something I thought I wanted, until I realized that I would have to be pushing stock to clients that might not be the very best for them in their situation. In that business, it happens. So I canned that idea, but never stopped learning and dreaming of the day that it would all come together.
What I regret most of all was missing the big move of 1995. I was not in a position to take advantage of the move of the century. My professional career had taken a different direction and I did not have the luxury to take advantage of that market action. I did still follow it, because that’s my passion. I saw all the “would be” day traders try their hand at making a lot of money in the markets and many of them did. The problem is, unless you are equipped to handle all of the other factors that I will be mentioning in this site, you will lose, plain and simple and most of them did.
These new hopeful traders only saw one side of the market – UP. They did not educate themselves on how to handle a dropping market. They had been hypnotized into thinking that there was only one direction. Many people, on paper, had become wealthy, but it did not take long to show them that they were not worthy to hold onto their newly found gains because of the attitude that “this is easy”. It’s never easy and not without sacrifice.
Let me tell you from personal experience. Most people who are very successful in day trading have gotten beat up pretty badly, almost without exception. Their pride gets in the way, with them saying, “I can do this.” It doesn’t take long for them and others to realize that it is not easy, especially without mentoring or some professional training.
The year was 1995 and market was trading sideways to slightly up, with a lot of resistance overhead, and then it happened. One of the most explosive moves in stock market history and I was only able to watch it go by without me. It lasted uninterrupted for roughly 5 years, with a big hiccup in 1998, but back to new highs through the year 2000.
During this time I started my own little business of trading commodities. This was the actual products. Buying and selling. I had partners who put up the money and did the shipping. It worked out well. This was at the high of the market in 2000. The dot com bubble had burst and the whole market was coming with it because it to had become so overvalued by historical standards.
Again, I saw this one coming from a mile away. It was waving flags in front of me, saying again, “sell, sell.” I tried to warn those who would listen. At least I did what I could. During this big market sell off I was trading high volatility stocks and was doing very nicely. I was able to put together a long string of winning days, over a month and half straight. Things were going well and I was content with my method and results, when I was rudely interrupted. I suffered some medical problems that made it impossible for me to continue. I never gave up on my dream, though, through many difficult times and set backs.
That day has finally come and I am very thankful to my family, who has been very supportive, and to God who was there with me through all my trials. As I continue to move forward in life, I will be sharing my trading ideas and experience with a select few who also have a desire and passion to succeed in this business.
I love to teach this stuff. I believe this is a time of abundance and blessing. Sharing and teaching is a way of giving back some of those blessings. It could not have come at a better time. The world financial situation is not getting any better. I will be keeping my readers abreast of the real economic situation on my daily blog.
Trading the market is not everything in life and I have come to know that. I have learned to see things differently as I have gotten older and that’s good. Knowing who you are as a person is so very important before you begin trading. I take time each day and thank God for my current good health, my family who loves me, friendships that I have built up over the years, and my involvement in my local community. This, I believe, is true wealth.
I live in a small town in Northern California. It is in a valley surrounded by mountains on all sides. Elevation is about 2,500 feet, so we get snow in the winter and I love it. I moved here from the San Francisco bay area after my two children were grown, over 3 years ago now. It was the best thing I could have done.
I live with my wife in a modest home and do enjoy a little gardening and my new Australian Shepard dog, “Buddy,” who has just been great. I always wanted a dog and now have the perfect place for one. He keeps me in shape. I do a lot of hiking, exploring, and some fishing with my free time. I live between two small towns of about 7oo people each, but have a bigger town of 7,000 just 20 minutes away. I and my wife Angela like to go to Ashland, Oregon just over the border for a variety of activities and cultural experiences.
It’s a different life, but I love it and again thank God for it. I am spiritually minded and it has served me well. It gives me hope in so much more than we are able to see in the world around us. I believe it is my destiny to help others and I feel God has given me a gift of giving. I need to be faithful and continue to pursue the gift He has given me so that I may be able to bless others in the coming days ahead. This site is a part of that. I pray that God will also bless you with what I write here and on my website to fulfill your dreams, and that you too will take the blessing and share with others your resources and talents. We can all do our part to make a difference.
May you be richly blessed all of your days,
Vince
For more information you can email me at vinnie@sniperdaytrading.com.
Today is Friday January 22nd, and the sell-off continues.
Well, the only thing I can say is, I am not surprised with today’s price action. The market is doing everything it would normally do after a break in formation, as I layed out in yesterday’s blog post.
There may be a bounce somewhere in here, but time will tell. I know there are people out there that love to buy the dips. Engrained by the media and such, you have the sheep step up to the plate, ”FOR SHEARING”.
I did not see the news, but I can only imagine. I see the market through purely a technical lens and reading moves as they unfold. It is easier than trying to predict far in advance. With the break two days ago, it was not hard to imagine or expect the kind of downward price action we have seen. Institutions, investors and traders have their stops at those key support points for a reason, to protect themselves against a sell-off. Once the first domino was tossed, the next one gets hit and there you go. I am sure we have all seen the domino effect, that is what just happened the last couple of days.
At some point, there will be the brave, to step up and buy, thinking they are getting a good deal and maybe they are, but it is risky. The S&P is now in an area of support. It is the same area that I was looking at, but on the Dow Jones. That index traded below where I thought support would come in today, but the S&P over-road the support by breaking to the similar area where it now may try to find support. If I had called the support for the S&P yesterday, I would have used the area close to where we are now.
The S&P price of 1085 was hit 5 times over the past couple of months which may be a temporary spot for the market to pause. Currently we are at 1091. If we trade past that, you will probably see a whole new wave of selling come in and we could find ourselves down to the S&P 1028 level. The middle of the range as I point out yesterday is Dow 8100 to 8600 and S&P 910 to 855.
Pretty scary stuff, but this is what I was warning about for some time. When the formation breaks, you will see the sell-off, sharp and deep.
When we bounce, where ever that is, what happens after that, is going to tell us how quick all of this may take. A slow gradual process will probably be better for most people.
On, to other topic’s; In todays trading I was only at it, for 10 minutes and picked up my daily goal. I did mark up some trades on the screen after that for a little while and picked up some nice turning points. I may trade for a little higher point return next week, but with this Monday being a holiday and Tuesdays session flat. I wanted to make sure I picked up my net goal for the week safely and I did that. So, next week, I may trade a little more. Also, I needed a little cooling off period for the bad trades I took on Tuesday. It all worked out well and look forward to next week.
Below, I marked up my screen with the turning points as I did yesterday but I took the indicator off. I just have the signals as they were generated. I screened out only a few of the very obvious no trades, but marked up most of the trades generated just by that one indicator as I did yesterday. I look at a lot more than indicators, I look at price action through its structure, to see if the components are there for the trade. The indicators, only confirm what I see already through the price. That is how it works for me. I know others use it the other way around. Using the indicators to confirm price. I don’t teach that or do that. If you learn how good price structure looks like, you will be looking for something very specific. When the indicators confirm your timing, it can give the learning trader a little more confidence to take the trade. But over time, seeing the same patterns again and again, we learn to look for what makes up a good trade just by its structure.
Anyone who wants to learn more, can. I do teach this as the “Sniper Day Trading Method” designed by me.
It is a collection of techniques and repeatable price pattern structures that happen with a great deal of consistency. Using the full spectrum of indicators I have on top of the price as well as under the price, will only make the job easier to see what is already present on the basic clean chart itself. This stuff speaks out its own language as the swings taking place, each and every day.
There is something here for everyone. If you like to scalp trade as I do, trading with the trend and counter trend, I have that. If you prefer to only trade in the direction of the dominant trend we can set that up, if you like to trade higher time frame charts and go for a higher profit loss ratios, we can customize that for you. The principles are all the same. This will work great on Stocks as well as Forex currency pairs. The higher the time frame, the higher the risk, but the higher reward. You also get fewer trades as you go up in the time frame spectrum.
I use a small 1 point stop on most all my trades or less, but that is me. I know some in my group use 5 ticks. That is fine, but I urge all to move there stops up with price as things go your way. I like to scale out and put myself in a no loose situation and I teach that too.
I don’t only offer the trading course, I work with each trader, to not only answer there questions, but to explain it and call it out during the live market, so you can see the same thing on the screen live. I will work with any trader as long as it takes to fully understand how he or she can use the Sniper Day Trading method through screen sharing technology over Skype.
If you have questions, feel free to contact me through Skype, my screen name is SniperDayTrading. Have a great weekend.
Today is Tuesday, January 12th and the momentum has slowed the last two days.
Todays Index’s were down across the board, with the NASDAQ getting the worst, followed by the S&P -10 points and the Dow, -30 points. We are very close to the extended March 6th trend line support on these index’s. If that support breaks, it will be the first clue that we may have turned the corner on the rally. But still it remains intact and all is well.
As I had thought, today we saw the first signs of life in the futures market, with volume coming in at over 2 million contracts. Just what I was saying yesterday, that 2 million contracts traded in the emini futures market is considered good volume and we hit it today. It has been a long time, probably longer than a month with this kind of volume.
As day traders, we need volume to push the market around, otherwise it becomes more difficult for traders to make money. It is always easy for them lose money and with low volume, bingo, you are there.
Most traders do not know how to trade in shallow trading ranges and end up getting beat up pretty bad. But if you know how to Scalp Trade this market, taking a little out of the middle, you can survive in any kind of trading environment. That is not easy to do for most people and there will be those that say it is foolish to try. Probably because they were not able to make it work for them. Traders are doing this all across the globe and they are taking it from those who think they can.
Some people only scalp trade and that term can mean different things for different people. To me, taking 2,3 or 4 ticks, will qualify as a scalp. Others will call taking a 2-4 point profit on the S&P emini’s, a scalp. So, the term is used widely. If I can make a profit on these small trades while keeping my losses to an equal amount 1 to 1, I am doing OK, because my percentage is pretty high. You need to have 60% or better with the better being more like 75 and up.
When I trade, I look for both kinds of trades. If the market will give me an extended move, often I position myself to capture it. At times I take half off early which gives me the extra ability to ride the move out. It’s a good way to trade.
In my trading today, I did not do as well as I had wanted, but I had a few bigger trades to cover myself. I came in late in the day and missed some big moves short. Overall I think a came a little short of my daily goal because of commission, but close. I had 10 trades 5 gains 5 losses, but had a few trades for higher point returns. As I said I was off. Lack of concentration and I did not take a break from a training session I had with a student.
My timing and concentration was off, with the first two trades as loses. They were not good entries and it cost me. I could have avoided some of the lose by closing the trade out early as I normally would do once I start to lose the edge. To me and my method, the Trading Edge, is clearly defined and when I lose it, I need to get out, often avoiding my full stop out of 1 S&P point. I start out with a 1 point stop on all trades, but it almost instantly goes to three ticks when I get one tick of movement in my favor usually when I am in scalp mode.
Often times I am able to catch trades for several points as I did last Friday with a 4 and 5 point gain. It does depend on the price action and what the market gives you. If the markets clamed up and its daily trading range shrunk, many traders would suffer, because they only know how to trend trade. When its choppy, they often stay out, but only after they got burned by non directional non moving market. Being able to Snipe or pick off a few trades makes life a lot easier, providing that you can do it. You end up having the ability to pull a few points a day out of the market, no matter what kind of market you have.
I will make a few comments from where I left off yesterday, about needing all three components to become successful as a trader. It does not matter what you trade, these are things everyone in this business needs.
We all need to know how to trade, by following a methodology or system of some kind. Next you need trading discipline, as it is often talked about. The last thing is, you need to be aware of the forces that are naturally working against you. What forces are you talking about? Well, for starters, yourself. When trading, there is something called our human nature. That nature says many things about us and our ability to become profitable. It is to often, the unseen things that holds us back from realizing our dreams. ————————————————————————————————————————————————-Let me focus on one point and see how far we go. GREED. That is a human emotion that all of us are faced with. We did not learn it, it comes very natural for most of us. I believe, we need to unlearn it or decide ahead of time, by an active decision to not allow this emotion to take root in us. If we can, it will make so many things better not only for our trading endeavors, but in every other area of our lives, good stuff.
The only way we can ever address it, is if we are first aware of it. After that, what are we going to do, to get a handle on it? This emotion has been one of the leading causes for traders to blow up there accounts.
We need to be content with modest gains when we have them. The opposite of content is discontent and the twin brother of discontent is greed.
Unless you are content with your piece of the market, you will continue to strive for more. In trying to get more, you will lose what you have. Take control of your trading and your emotions. Trade with a purpose and a goal.
Today is Tuesday November 3rd and the Dow and S&P are holding on.
Well, thats what is going on, their just holding on, interesting little rhyme. The Dow was off 17 points but the S&P was up 2.50 points in the cash market. Looks like we had a divergence the other way today, that is good. The broader S&P market is much more important than basket of 30 stocks, the Dow, even if they are the biggest. The Dow is still in really good shape here, it is on solid support and holding. Any break of its newly established pivot low, will spell trouble.
Today I took a few nice trades and called it a day. I had 27 ticks of profit, counting both sides of the split trades and 2 ticks in loss. I found myself done in 45 minutes. The first 90 minutes of trading today, saw some really nice “Turning Points”, crystal clear as far as my method is concerned. The trades I took were also, very clear turning points for me and found it easy to pick up what I needed.
I did get overly anxious on one trade and jumped the gun. I felt I knew where prices were going to go and jumped in to soon. I did not wait for the right timing and it cost me, 2 ticks. That was my only loss and could have easily made that a 1 point gain instead. The good thing is, I did not hesitate once I saw what I did and elected to take a 2 tick loss, instead of 3 or 4.
I don’t have a whole lot more for now, I wrote a long article yesterday and need to lighten up a little today.
Below is a short video of the trades I took in todays market. I closed the last trade out “Live”
Until tomorrow,
This post is for Fridays session, October 30th.
The market sold off like fiercely on Friday and took the Dow down about 250 points. The S&P was off about 30 points. I did think that a re-test of the Wednesday and Thursdays low would come, but not so fast. I thought we had at least one more day to top out for the counter trend rally. There was news that came out on Friday, not really sure what it was to tell you the truth, but I could only imagine that it wasn’t good and the market reacted to it. It is to be expected.
Let me tell you, that in the month of September and October, the general public has become bullish. The last two months has only produced paltry gains when compared to the gains of the previous six months. That is where all of the money has been made. The general public is always late to the party and I don’t imagine that this time is going to be any different.
Mondays session is going to tell all, at least for now. What I mean is as I was telling you last week that the Dow has been outperforming the S&P and that was a problem. Well, it is not only the S&P that it is outperforming but the other index’s, but in a bigger way.
Based on my experience and I did not see this or hear this from anywhere, but years of seeing price action at work, the institutions are lightening up their riskier positions and reallocating equity assets in the high quality Dow Stocks. I mentioned this a couple of weeks ago, if I remember correctly. That is pretty typical at market tops
The Nasdaq Index is at a double bottom from its most recent pivot point low, something that the S&P is thinking about doing, to follow suit. The Russel 2000 Index has already overwhelmingly broke its most recent pivot low, by a wide margin. The Dow on the other hand has not broken down yet at all, but is sitting right on a major trend line support.
So, the Dow is the strongest, next comes the S&P 500, then the Nasdaq and lastly the Russel 2000. If the Dow holds and moves higher, the other indexes will only be making a counter trend rally, but will still remain in a down-trend, stopping at overhead resistance. Once the Dow does break down, all of the other Indexes will only go down that much farther and faster. There is a lot of room for the market to move back to the middle of its range of the last 8 months.
The last thing I will say about all of this tonight is, “Earnings”. I don’t follow this much either, but just the big picture. The projected earning that Standard & Poors are putting out for the S&P 500 for next year are a bit of a fairy tale. They have been constantly wrong and now they are painting a wonderful rebound of large proportion in earnings. Anything is possible, but I doubt it. I had heard, according to Bloomburg, that the S&P has had declining earnings for 9 straight quarters and only this last quarter have they been able to increase earnings. Those increases are from very depressed levels, not that hard. The increase in earnings in my estimation is coming from cost cutting in various forms. You can only cut cost so much and for so long, before you can not cut anymore. Where are the increases in sales going to come from. No one is spending and no one is lending and money??? INTERESTING.
That is why, the market is going to adjust itself to reflect where it is going to be in 6-9 months from now, probable lower. Just now the S&P is turning their earnings, like this month. If you invest in these companies now, you are going to pay way to much. But that is what the public does. You needed to be invested at least 6 months ago to be able to enjoy some of this rally, not two months ago, like I talked about at the top of todays post.
We need to see what the Dow is going to do in Mondays session. If it to breaks support, then all of the indexes will have downside momentum working for it. But if it can hold, there is now room for it to clear 10,300, a complete 50 retracement from it’s all time high. The S&P numbers for the same retracement are 1120. We got close.
The sentiment numbers backed off just a little last week. It is sitting at 48% Bulls. A reading of 55% is considered bearish. We only got as high as 51. One last push to the numbers above could push the reading to 55%, the big word in there is COULD.
Friday’s session was incredible. So many great clear signals all day long. I only took one trade and it was split up, what I call a “T-2″. The first half for +1 point and the second part for 3 1/2 points. I was in the market for less than 1 minute on the first part and 4 more minutes for the second part. I really only had my screen open for 15 minutes, start to finish. There will be plenty of other trading days to capture higher point returns. But my daily goal was meet, no struggle, no fuss, no mess. Just the way I like it.
Until tomorrow
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