Posts tagged ‘emini’

ES Emini Day Trading: Pivot-Fed Announcements-Commentary

By , 14 December, 2009, No Comment

The producer price index increased 0.3 percent in October after dropping 0.6 percent the month before. The rise in the latest month was led a 1.6 percent boost in energy and a 1.6 percent gain also for food. But at the core level, the PPI rate unexpectedly dropped 0.6 percent, following a 0.1 percent dip in September.

ES Emini Day Trading: Paying for a Trading System or Paying through Experience

By , 13 December, 2009, No Comment

Todays trading environment is a much different scenario, where many individual investors who have not been trained to trade through the institutional channels are active in the markets. There are some very good traders out there, but one statistic has stuck with me for quite some time. The novice trader has 70% failure rate, and usually within three months

ES Emini Day Trading: Pivot-Fed Announcements-Comments

By , 13 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 12/14/2009

How To Use
Symbol R1 R2 Pivot S1 S2
ESZ9 1111.92 1115.83 1106.58 1102.67 1097.33

Fed and Fed Agency Announcements

With the lack of big announcements today, it should be a fairly quiet trading day, at least from a news standpoint.

ES Emini Day Trading Review: Trading Concepts

By , 10 December, 2009, No Comment

Are you ready for a comprehensive trading system that requires careful study and flawless execution? In the world of professional trading this dedication to self-disciplined principles is a pre-requisite, but my observation is that many amateur traders take a laissez-faire approach to trading.  I would also point out, at this point, that anywhere from 70-90% of first time traders bust out their accounts within three months.  This does not speak well for the preparation system most new traders employ.  There is no room for free-lancing in the trading room, and those who do not remain disciplined lose their accounts fairly quickly.

I have never fully understood why any individual would take on new profession and not dedicate himself/herself to learning the business completely.  Any skill takes a modicum of book learning and practical experience to master, and trading skills are among the most elusive skills to truly acquire.  It takes serious book work and a considerable amount of paper trading before a prospective trader is ready to tackle the market with real money.

Trading Concepts employs a system of trading that is fairly straight forward and quite learnable.  More importantly, it works if you take the time to execute it properly.  There is nothing terribly exotic about the techniques in the Trading Concepts system, but there is an excellent mixture of the right trading techniques to make any novice successful.  The are no esoteric mathematic formulae to memorize, nor do you need to purchase any of the $10,000 trading programs you see advertised in many of the trading magazines.  No, this system takes some standard charting skill and an observant mind.

Do you have what it takes?

Let me say that the developer of Trading Concepts has what it takes, as he promised a lifetime guarantee of customer support to his students.  Todd Mitchell, the proprietor of Trading Concepts impressed me as an individual of unusual dedication to the education of his students.  My impression of Todd was one of great admiration for the pride he takes in turning out professional traders.  He ought to be, too. He has been training traders since 1994 and his satisfied students are a large group who are very vocal in their support of their mentor.

Todd focuses on training students to trade the ES Emini.  This is, so to speak, his bread and butter.  He has the usual teaching aids to assist his students: an extensive manual with excellent documentation, on line training, a trading room and, as I have mentioned, a life-time guarantee customer support for his students.  To the best of my knowledge, this is the only claim of this kind, and is certainly a strong point when considering his program.  I have reviewed a dozen or so trading systems, and have been very critical of some, but find nothing but superlatives in recomending Todd Mitchell’s Trading Concepts, Inc. trading system.  Like all trading programs, the real work lies with the trader, and your level of success will be directly proportional to the amount of time and effort you apply to learning and implementing the principles of the system.  But if you have the motivation, everything is here to assure your success.

The pricing on Trading Concepts,Inc program was about half of what comparable systems are currently charging, and considering the long track record the program has put together, I find his program a bit under priced in comparison to his competition. But this mispricing of Trading Concepts, Inc is to your advantage.

In summary, if you are serious about becoming a full time trader, this system supplies all the tools you need to make the transition from the 9-5 dead end job to full time trader.  Your success is up to you.

You can check out Trading Concepts here.

ES Emini Day Trading: Pivot-Fed Announcements-Commentary

By , 30 November, 2009, No Comment
ESZ9
For 12/01/2009

How To Use
Symbol R1 R2 Pivot S1 S2
ESZ9 1100.33 1105.92 1092.42 1086.83 1078.92

Fed and Fed Agency Announcement

Redbook
[Bullet
8:55 AM ET
ISM Mfg Index
[Report][Star]
10:00 AM ET

Charles Plosser Speaks
12:20 PM ET

In depth Consensus Reports

Motor Vehicle Sales

Released on 12/1/2009 For Nov, 2009
Prior Consensus Consensus Range
Domestic Vehicle Sales 7.9 M 7.75 M 7.50 M to 8.00 M

Market Consensus Before Announcement
Sales of domestic light motor vehicles in October rebounded 17.2 percent to 7.8 million units as sales returned to normal-at least for the current recovery. Combined sales of domestics and imports in rose to a 10.5 million annualized unit rate from 9.2 million in September. Now that the monthly swings from cash-for-clunkers have been wrung out from the data, November will stand out as a possibly true measure of the strength of demand for motor vehicles and of the viability of the consumer sector to a large degree

ISM Mfg Index

Released on 12/1/2009 10:00:00 AM For November, 2009
Prior Consensus Consensus Range
ISM Mfg Index – Level 55.7 55.0 53.8  to 56.0

Market Consensus Before Announcement
The composite index from the ISM manufacturing survey jumped more than 3 points in October to 55.7. This is the strongest for this index in more than three years. Showing the most improvement of the composite’s components was the production index which advanced over 7-1/2 points to 63.3. But we may see some leveling off in the composite index in November as the new orders index eased from 60.8 in September to 58.5 in October, but still remained well in positive territory. Price increases were steady in the month, showing little change at 65.0 compared to 63.5 in September.

Construction Spending

Released on 12/1/2009 10:00:00 AM For October, 2009
Prior Consensus Consensus Range
Construction Spending – M/M change 0.8 % -0.4 % -1.5 % to 0.3 %

Market Consensus Before Announcement
Construction spending was sharply higher than expected for September but a large downward revision to August was essentially offsetting. Overall construction spending advanced 0.8 percent in September after slipping a downwardly revised 0.1 percent in August. The decrease in August was now significantly lower than the original estimate of a 0.8 percent gain. The boost in spending in September was led by a 3.8 percent surge in private residential outlays. Private nonresidential declined 1.8 percent and public outlays decreased 0.1 percent in the latest month.

YM Emini Day Trading: Detailed Trading Chart for Tues

By , 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.

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.

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