Hello Traders, I wanted to share my opening range ideas for 7-10-09. ES opened with OR of 872-873.75 (white arrow). Draw lines across top/bottom of 1st 1min candle. I wait for two consecutive 1min closes above/below the OR for trigger and to filter out fakes. Entry is 1 tick above/below the OR and came at 9:36…
Category: Education
Box Trade
Box Trades or range breakout trade is one of the simplest and high probability trades out there, just the way I like it. It works with all markets. What is needed to create a box: at least two lows at same level at least two highs at the same level Once 2 lows and 2…
Support and Resistance Reversals
Support and Resistance Reversals happen all the time on all time frames and are very simple. Previous broken support becomes resistance and previous broken resistance becomes support. Here is a look at few examples from last few days alone. – SP500 emini futures Spike high from overnight session on Thursday becoming support and low of…
What is an Ambush Trade?
Ambush is one of the highest probability trades that works in most markets on all time frames, from minute to monthly charts. Ambush Trade is basically a 50% Fibonacci retracement trade or simply put “half-way-back” trade. Basic Strategy:– Pull up Fibonacci Retracement Tool on your charting software– Draw from the beginning of the move to…
Ambush Trade Webinar
Ambush Trade is one of the highest probability trades on all time frames in all markets . I talk about ambush trades a lot in my analysis posts, in case you were wondering what in the world that is, here is a 2 hour webinar from Ambush Trade King himself David Halsey from EminiAddict, he…
Keep Breaking Rules? Take Control of Your Trading!
Keep breaking rules? keep saying “OOPS, broke my rule, BADD! i won’t do it again”? well enough of that, time to take control of your trading: The TASER C2 is your personal trading coach. Electronic Trading Control Devices (ETCDs) use propelled wires to conduct energy to affect the sensory and motor functions of the nervous system…
Mark Douglas – Mind Over Market Video Interview
Mark Douglas is an author of the best trading psychology book ever written “Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude” In this interview he pretty much summarizes a lot of what is written in this book, it’s a must watch for any trader who has not had a…
Two Evils of Trading Discipline
Hey Traders, I had 2 experiences last week which could be described as two evils of trading discipline: Breaking rules and being rewarded for it Following rules and being “punished” for it Both of these can be very harmful, especially to new traders in becoming consistently profitable and disciplined traders. ————— Breaking rules and being…
Don’t Mess with Trading Gods! Cant Make This up
Besides various obvious misdeeds like breaking rules, dragging stops, chasing, overtrading and various other trader NO-NOs, there is a another one… DONT POST IN BIG GREEN FONT ON YOUR BLOG LIKE AN IDIOT AFTER A MONSTER DAY / WEEK Here is a screenshot from today’s intraday analysis update: You will never guess, who was short…
Trading is NOT For Everyone
While the purpose of this blog is to help traders learn and become successful at trading by providing market analysis and simple proven trading strategies, the harsh reality is that 91% of futures traders blow up their accounts within the first year of trading. Even today’s best traders have blown up their accounts about 2-4…