Posts tagged ‘daytrading’

Trading Concepts: Have you considered a serious trading education?

By trader7757, 4 December, 2009, No Comment

Many, but not all, traders approach their education in a haphazard method, piecing bits of knowledge together in hopes at arriving at a sound trading system that will serve them in a variety of trading situations. Of course, I attribute this approach to the staggering 70-90% (depending upon which source you quote) failure rate experienced by novice traders.

Want to change that statistic for yourself?

There has been one remarkable fellow who has been consistently churning out successful traders for more than fifteen years and has legions of past student to attest to his skill at both trading and teaching others to trade.

His name is Todd Mitchell and his company is TradingConcepts, Inc. and his site is packed with testimonials of grateful students. More importantly, though, is the thoroughly sound system for trading ES Emini contracts that Todd teaches. It’s his specialty, and has been since 1994, and Todd offers a variety of products, along with a lifetime guarantee of ongoing support for all who sign on to his programs.

Want a live trading room? Yea, he has one!

Want a well thought ought curriculum, learning manual, and personal mentor? You got it!

In talking with Todd last night one particular point stood out in my mind: Todd doesn’t see himself as a teacher for a semester or two, this guy see’s himself as a a lifetime mentor for his students. I have been following his career for several years and went through much of his material to research his technique, and found his system not just sound, but well grounded in trading principle and readily learned.

So I though I would give his firm a call.

Who do you think answered the phone? Todd, and this guys is a trading dynamo. I have been around traders for nearly 30 years, but Todd still has unbridled enthusiasm and desire to teach students. Heck, he got me excited about trading.

My point is a simple one…are you looking for bits and pieces of knowledge, or are you ready to step up and learn a unified system for trading that will serve you the rest of your trading career? Only you can answer that question.

ES Emini Day Trading: Pivot-Fed Announcements-Commentary

By trader7757, 3 December, 2009, No Comment

Chart courtesy of AMP Trading, get a free demo account and paper trade. Call Chad at AMP Trading (800) 560-1640 for first class service. He does a great job.

ESZ9
For 12/04/2009

How To Use

Symbol		R1	R2	Pivot	S1	S2
ESZ9		1110.83	1123.67	1104.17	1091.33	1084.67

Fed and Agency Announcements

Barack Obama Speaks

Chain Store Sales [Report]

Monster Employment Index [Report]

Jobless Claims
[Report]

8:30 AM ET

Productivity and Costs
[Report]

8:30 AM ET

Ben Bernanke Speaks
10:00 AM ET

ISM Non-Mfg Index
[Report]

10:00 AM ET

EIA Natural Gas Report
[Report]

10:30 AM ET

3-Month Bill Announcement
[Report]

11:00 AM ET

6-Month Bill Announcement
[Report]

11:00 AM ET

3-Yr Note Announcement
[Report]

11:00 AM ET

10-Yr Note Announcement
[Report]

11:00 AM ET

30-Yr Bond Announcement
[Report]

11:00 AM ET

Eric Rosengren Speaks
12:30 PM ET

Fed Balance Sheet
[Report]

4:30 PM ET

Pertinent Consensus Analysis

Jobless Claims

Released on 12/3/2009 8:30:00 AM For wk11/28, 2009

	Prior	Consensus	Consensus Range	Actual
New Claims – Level	466 K	485 K	471 K to 495 K	457 K
4-week Moving Average – Level	496.5 K			481.25 K

Highlights
Initial jobless claims fell 5,000 in the Nov. 28 week to 457,000, extending a run of impressive improvement that points squarely at improvement for total payrolls (prior week revised 4,000 lower). The four-week week average is lagging despite falling 14,250 in the week to 481,250. Continuing claims for the Nov. 21 week rose slightly to 5.465 million with the insured-workers unemployment rate steady at 4.1 percent, well down from a summer peak of 5.2 percent. The slight gain in continuing claims hardly puts a dent into 10 prior weeks of improvement, improvement reflecting new hiring but also, and likely to a large degree, the expiration of benefits. Those receiving extended benefits rose nearly 60,000 to just under 600,000 in data for the Nov. 14 week. Markets moved higher but only briefly in reaction to the report, one that will firm expectations for solid improvement in tomorrow’s November employment report.

Market Consensus Before Announcement
Initial jobless claims fell 35,000 in the November 21 week to 466,000. With the four-week average also breaking below 500,000, down 16,500 to 496,500, the latest numbers indicate that companies have reduced the pace of printing pink slips. This may be the early beginnings of recovery in the labor market. But most economists believe that the return to normalcy will be extremely slow. Continuing claims also fell in the latest week, down 190,000 to 5.423 million in data for the November 14 week, but the change also reflects the expiration of benefits.

Productivity and Costs

Released on 12/3/2009 8:30:00 AM For Q3:09

	Prior	Consensus	Consensus Range	Actual
Nonfarm productivity – Q/Q change – SAAR	9.5 %	8.5 %	8.5 % to 8.8 %	8.1 %
Unit labor costs – Q/Q change – SAAR	-5.2 %	-4.2 %	-4.5 % to -4.0 %	-2.5 %

Highlights
Productivity in the second quarter was revised down with the Labor Department’s second estimate for the quarter. Third quarter productivity was revised to an annualized 8.1 percent surge from the initial estimate of a 9.5 percent boost. The market consensus had expected a revision to an 8.5 percent increase. Unit labor costs were revised up somewhat (less negative) to an annualized decline of 2.5 percent, compared to the original estimate of a 5.2 percent fall. The consensus estimate was for a 4.2 percent decline.

The downward revision to productivity was primarily due to a downward revision to growth of third quarter output in the nonfarm business sector-to 2.9 percent annualized from the initial 4.0 percent. Unit labor costs were revised up based on the lower growth in output and higher compensation estimates. Compensation growth was revised up to an annualized 5.4 percent from the initial third quarter number of 3.8 percent growth. Hours worked were little revised.

Year-on-year, productivity rose to up 4.0 percent in the third quarter from 1.9 percent in the second quarter. Year-ago unit labor costs fell to minus 1.4 percent from up 0.3 percent in the second quarter.

Today’s revisions indicated that labor costs are not as weak as previously believed but they are still subdued. The new numbers might have had a negative impact on equities, but the big news is the lower-than-expected jobless claims which boosted equity futures and bond yields.

Market Consensus Before Announcement
Nonfarm productivity in the third quarter surged 9.5 percent annualized, following a revised 6.9 percent boost in the second quarter. This was the largest gain in productivity since the third quarter of 2003, when it rose 9.7 percent. In tandem, unit labor costs dropped an annualized 5.2 percent after declining a revised 6.1 percent in the second quarter. The latest spike in productivity reflected both higher output and fewer hours worked. Looking ahead, we are likely to see a downward revision to third quarter productivity and upward revision to unit labor costs based on the second estimate for GDP growth in the same period. Real GDP was revised down to 2.8 percent from the advance estimate of 3.5 percent. The output component of productivity and unit labor costs is based on much of the same source data as GDP.

Monster Employment Index

Released on 12/3/2009 For November, 2009

	Prior	Actual
Monster Employment Index	120	119

Highlights
The Monster employment index edged down 1 point to 119 in November. Government and healthcare extended several months of weakness. Retail has also been weak. But on the strong side is transportation & warehousing, a group that offers a reading on supply-chain congestion and that may be signaling gains ahead for general economic activity. November’s big U.S. jobs report comes out tomorrow morning with expectations looking for solid improvement.

Chain Store Sales

Highlights
November’s chain-store reports are net positive for the economic outlook. November started off slow, hurt by warm weather, which cut demand for seasonal goods, and by consumer anticipation ahead of Black Friday discounts. The Thanksgiving weekend proved to be very positive for many chains — momentum that points to month-to-month improvement this month. Chain stores report their results in year-on-year terms, and a look back at last year shows that November had a higher base than October (remember October and September were hit by the credit panic). So even though sales rates were a bit weaker, November’s ex-auto ex-gas reading looks to be about flat. Auto sales, based on Tuesday’s unit-sale data, look to be strong while sales at gas stations will get a boost from higher prices and favorable seasonal adjustments. All in all, the retail outlook is favorable in what may be confirmation of improvement underway in the jobs market.

ES Emini Day Trading: Interesting but Unproductive Day Trading

By trader7757, 2 December, 2009, No Comment

I started the day off by getting in a nice short trade a little late as I was hesitant to jump into a trade early on in session. As you can see the agreement between the CCI and Stochastic was less than optimal, too. But I jumped in anyway, and ended up with a nice trade.

Then it began…and it really shows the weakness in the system I use.

ES Emini Day Trading: INO FREE TV

By trader7757, 27 November, 2009, No Comment

Here’s a sneak peak to my new favorite educational service…

Over the past few months your knowledge of trading
could have easily improved through access to some
top notch trading coaches…

but without ever leaving your house!

The secret isn’t teleportation it’s INO TV!
I’ve been given permission to introduce you to it today…
by giving my members an “on the house” 4 video preview!

Watch these four great trading videos

http://www.ino.com/info/36/CDXXX/&dp=0&l=0&campaignid=9

Tap the link above to have access to streaming educational
materials from experts who can help you to become a better
trader.

Remember, you get to view four videos “on the house”.

Good luck and good trading,
David

Enjoy the videos, they are packed with info

ES Emini Day Trading: Should You Pay to Learn to Trade

By trader7757, 26 November, 2009, No Comment

On the other hand, most novice internet traders don’t have the option of learning in an institutional setting, so they must learn from a number of sources. Yes, it is going to cost some money, but it doesn’t have to be a whole lot of cash.

A look at the dollar index

By trader7757, 23 November, 2009, No Comment

The markets are always interesting, but they are particularly interesting right now.

Today we’re looking at the dollar index and some important elements that I see building in this market and want to bring to your attention. In this short video I outline the key areas to watch for and one important component that you may not have seen. I think this factor could, in fact, be a short term game changer for this market.

Have an in depth look at the current dollar situation

As always our MarketClub videos are free to watch and there is no need to register.

YM Emini Day Trading: Detailed Trading Chart for Tues

By trader7757, 17 November, 2009, No Comment

Chart courtesy of AMP Trading, get a free demo account and paper trade.

YM Day trading chart with trades for the day.

Wow, I will sleep well tonight. Though the trading on the YM emini day trading was choppy today, I managed to eek out with a small gain. You can see that on three occasions today I found myself on the wrong side of the trade. I was moving my stops up to one point. If I was on the wrong side of the futures trade, I wanted to get out fast and look for something a little better. Just the same, my style of trading was not suited to the market today, and my stubborn nature prevented me from just stopping when I saw the tough conditions for day trading.

I considered moving the CCI up to a 16 period setting, but I don’t think that would have helped much. In non trending markets, it is tough to follow with my “trending oriented” trading style. There really was not discernible trend from a scalping viewpoint. Whipshaws were the name of the game.

ES Emini Day Trading: Detailed ES Chart-with Trades

By trader7757, 16 November, 2009, No Comment

Chart courtesy of AMP Trading, get a free demo account and paper trade.

ES Emini Daytrading for Monday, November 16, 2009

Click on chart a couple of times for enlarged chart.

I had a fine day on the ES Emini, as the day trading was exceptional. I would have a big smile on my face if I hadn’t taken one trade, though I only lost a point, but showed a lack of discipline in taking the trade. These mistakes, on a particularly volatile day, would spell disaster. I don’t like depending on luck to profit.

Today was also a day where pivots, support and resistance were the name of the game. Notice at the end of the day how the price action fell to right on R2, which had taken up a support and turned on a dime.

The Fractal Futures Trader

Posts tagged ‘daytrading’

Trading Concepts: Have you considered a serious trading education?

ES Emini Day Trading: Pivot-Fed Announcements-Commentary

Fed and Agency Announcements

Pertinent Consensus Analysis

Jobless Claims

Productivity and Costs

Monster Employment Index

Chain Store Sales

ES Emini Day Trading: Interesting but Unproductive Day Trading

ES Emini Day Trading: INO FREE TV

ES Emini Day Trading: Should You Pay to Learn to Trade

A look at the dollar index

Have an in depth look at the current dollar situation

YM Emini Day Trading: Detailed Trading Chart for Tues

ES Emini Day Trading: Detailed ES Chart-with Trades

Set an appt. or ask a question

Subscribe to eminitradingprofessorsystem

Recent Posts

Categories

Archives