Today is Wednesday and the S&P 500 had some legs to yesterdays run up.
The Dow Jones finally caught up to the other index’s today. Initially it saw resistance, which can be expected, but it came back and moved up 25 points over its January highs, 10,767 and then sold off. This is so very typical. Now that the Dow reached what the other index’s did a week ago, it is going to be pretty interesting how it reacts from here.
Last weeks sentiment number were up a bit +3% to 45% bullish. That is pretty much what one can expect after coming off an extreme reading like we had a couple of weeks ago and currently is a neutral reading. Once it reaches an extreme on the bullish side, you can look to lighten the load as more significant selling will come in. The thing is, we at this time don’t know how far it is going to advance.
With oil prices increasing that is sending a message to America that the economy is strengthening, at least from where it was before. I have been hearing things on the street about commodity prices in general. It is very possible that we will see large run ups in commodity prices in the coming months. That is not usually how it goes for a struggling economy. My hope is that everything keeps moving along and any significant drop is put off until a later time, like next year or after, would be nice. Lets give America a break, not “break them”.
This patch work is only going to be temporary, but I guess I welcome it, for everyone’s sake. If you want to see the real state of the economy, go to my website front page and I have a link on the right side which shows an ongoing tally of the National Debt, but under that is a warning. “Expanded View” – “Click here at your own risk”. I give the warning for real, its not a joke, because if you look at all the spinning numbers and totals associated with the items just on that one page, you will be filled with many emotions, I will just leave it at that. The bottom line is the real shocker, well, all of it really is, but if you would rather not know, “Don’t look under that Link“.
The last couple of days I have been showing a limited view of one of the trading screens I use during the day. I call this my T-2 Trading Screen. This screen is showing just one chart of two that I have up and is designed to find the turning points of the day, but give you a zoomed in view of it, so a trader is able to zero in on the exact point the balance of power has shifted.
The trading indicators I use help to show just that, as you have seen over the last two days. I will show yet another day today for those who think it is luck, that the turns are shown with such precision, almost magical. When the market is on the move, this is so very typical. When it is not (on the move) and we seem to be range bound, up and down, small or choppy moves with no follow through, all one has to do is just trade out of my T-1 trade screen for scalp trades of 1 point or more at a time. This part is just that simple. The market is moving, trade the T-2 for larger trending moves, with the possibility of pyramiding your position for maximum gain. When it seems range bound, trade out of the T-1 screen and take what the market gives you. If you get it wrong and are trading out of the T-2 screen and the market is not trending, you can still make a nice return trading the turning points, its just that they do not have extended moves to them, which will limit your total point return on that one trade. If you scale out of some of your position, you will always make a profit even if the market comes back against you. At some point, you will see that taking trades out of the other screen may be better and a “All in All out approach” would be best. Either way, it comes out in your favor.
Take another look below at the short video and see for yourself if you think you can place an order in the circled area’s I call turning points. I have placed a number above those turning point area’s which represents the amount of time you have once a turning point area takes hold, to when it moves out of the circle in the desired direction. The circle represents your window of opportunity and the amount of time you have to make a decision. You will see 3, 2, 5, 1, and so on. Again, ask yourself, do you think you can place an order to buy or sell inside of that window and take advantage of the trend. Your exit can come from several different way, with a couple of them shown. The first way could be a price bar color change and the next could be a reverse signal as indicated on the screen. There are a three other ways which are not shown, all similar in results, but non related, still all very visual and easy to interpret.
With all of that said, trading takes practice and your confidence needs to be high. If you give yourself the tools it takes to build that confidence, you can put it together. If your tools are shaky and inconsistent, you really don’t have much.
Just think what you could do in $ returns if you can buy and sell in the circled turning points area as indicated in the video’s. This will always work because this is a reflection of price action trading. I teach how to get the exact same turning points without the trading indicators and it matches perfectly. If you have questions, email me, I will be happy to answer them.
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
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.
Click Shopping Cart When Done
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?
Hello everyone, it is Thursday evening, February 5th, and all is well.
I will go out on a limb here and give you my opinion on what tomorrow can potentially bring. A big move to the upside is what I am expecting to see in the daily chart. We went down like a rock to test the low end of the range (the purple line drawn on daily chart). It started in the night trading and when this morning’s open came, it dropped straight down, to catch up with the futures market. At that point it really did a good job in shaking out all the weak hands in the market and at that point the buyers came in to scoop up the deals.
With today closing near the high end of the range, the pattern is very bullish. The funny thing is, we also bounced down off of the upper outside trend line from above. When the market hit that today, it did just like it had done before and reversed its direction off of that high. It is getting sandwiched in between the two lines and something is going to give. Once it does, it will explode initially in the direction of the break. I have seen it a thousand times.
The question is which way will it break? I say it will be to the upside. What do you say? The pattern looks very strong to me, but again, I have said it many times before, you need to read currently what is happening and make your decisions based on that. So far, the big picture in the daily is still neutral, until we get that break out, in whatever direction. But you all know by now that I have a bullish leaning, in part because of the fact that very few people think the market is going to go up. It’s one little clue telling me that most people are generally wrong, even if they are considered experts. Actually all the more so.
Tomorrow is going to be a very interesting day, check the news.
There are very few people who know how to read the market from a technical perspective and there are even fewer people who can do it with some degree of consistency. I rarely listen to any news during the day and a good reason is that today I did happen to hear that there was bad news on the economy – new information. I do not know what that was, but just heard that it was bad. Conventional wisdom will tell you that the market should go down and it did initially this morning, but it reversed in a very strong way, catching so many people off guard and forcing them to cover there short positions, which will push the market higher.
It’s not over yet. In fact, if the market can get a footing sometime tomorrow and make it into positive territory, there are going to be a lot of nervous people out there in bad positions going into the week end short. It could be painful for them and many do not have a great deal of tolerance for the stuff, so I would expect a fast big move catching a lot of people off guard, but not the readers of this blog. We shall see.
Day trading was OK over all. I hit just a touch under 3 times my daily goal, but it was a rough start. The early morning had good trading volume, that is what I like. The ability to move quickly in my direction giving me my points, a good thing. I started as the market was slowing down, like the other day. I did not have the volume and direction early on that I like to see. What can I expect, trading in the slow time of day is going to give slow or low volume.
I still traded the split trades, taking two exits instead of one. This gives me the ability to move my second target up to capture a greater profit, but it shows that trade as being two trades instead of one. It does not really matter, but I am just explaining that the number of trades is half the amount posted. I took 25 trades in all and picked up a lot more than I needed to hit my daily goal and that is after commissions. I probably won’t be trading that much tomorrow, but its nice to know that I can continue to trade for more if I choose too.
After 11 am the volume came back into the market and the setups came with them. I pulled straight up once that happened. You have to take what the market gives you and it was not giving me much early on. Knowing when it’s best to trade is important. The key times of the day are early morning and after 11 am. Some people break that down into a science and zooming in on specific time ranges within those high volume times. There can be something to it, but if you know how to trade, you just read the charts and follow.
I am still planning to have a training session on Saturday which can give you a chance to ask questions and get more information. The class is free for those interested and will start at 8 am West Coast time and continue to 9:30. Just give me an email message and I will be able to patch you into my trading screen. If you want to hear me, you will need to download SKYPE and need a headset if you want to ask questions. If not, you can still hear through your computer speakers. Below are some of today’s trades.
I had another good day trading, which I will go over below, but first let me give you an update of what happened in the daily.
The S&P moved right up to the outside trend line that I have been talking about the last couple of weeks. It has proved to be two things for different people. First it has proven to be like a magnet, drawing prices up into itself. Second, it has proved to be an execellent area for selling short. There will be a point soon that it will be neither of those again for the same people. It is about to become a point for short sellers to become buyers or it will be a windfall for those shorting in that area.
I can honestly say, I do not know and don’t think anyone else does either. We can only deal in probabilities here. On the weekly chart, which I have not shown, the market looks like it wants to turn up. But it has not. And the daily is on the verge of turning up and it has not done so either. A move over that outside line will give us some additional time to recover, yet as I have said, I think longer term, it is a bear trap.
The S&P did move 35 points off the reversal point that I said was probably going to take place on Friday or Monday. Well, it happened like I said, but on Monday. It reversed off of the lows and closed higher, catching a lot of people in a short term bear trap. The next day was higher, yesterday and today we drew up to that resistance point and dropped straight down, showing solid price rejection. See the chart below, “Daily S&P” .
The negative sentiment makes me lean to the upside. We may need to have a news event, a catalysis, to drive prices higher. Watch the news for this in the next day or two. Something like passing the stimulous package or some other short term good news item. Again, we shall see.
My day trading efforts posted solid results again today. I started out with a 1 point loss, but came right back with a few positive trades putting me at my minimum daily goal in about 10 minutes. I kept trading expecting small rallies up to the resistance area I was talking about above. We had just that, but I remember having a few losses in a row, three to be exact. My timing was not too bad – a little late, a little early – but I got right back on the horse and road the market up to 5 & 1/2 times plus my daily goal. I definitely traded more today than I usually do, but I do that occasionally. I have a few charts of some of the live trades below, showing some early morning action.
One thing I did today was splitting up half my order 1 tick early, giving me the option to split my order for a higher target. I took only a few of these, picking up more than my one point default. After that, the market ran up from the early morning and started to flounder. No direction, low volume, and a bit choppy. I adjusted myself to take some smaller targets, making sure I got filled. On my equity curve chart, I traded only half the number of trades that it said I did, because the trades were split in half. The commission is the same, so it does not matter that way, but it shows two trades as being only one because of the two exits. Any way, it was smooth sailing from there.
I will be having a training session on Saturday morning at 8 a.m. West Coast time this week. If anyone is interested let me know by emailing me at vinnie@sniperdaytrading.com. If you have not done so, download SKYPE from my website and that will give you the ability to ask questions about my method if you want to. You will need a headset or microphone to talk. I will send you an email invitation that will patch you into my trading screen. Just follow the instructions and it will lead you right to me in a minute or so. I will call you on SKYPE Saturday morning for those interested, so let me know. It will last for about 1 and 1/2 hours till 9:30.
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