Trade Setups 2.10.16

With Yellen speaking today it was about being patient and staying out of emotional trades.  Every time she speaks the markets are busy and we feel compelled to click the mouse.  We had a bias to the long side all morning in the E-mini S&P and we were just waiting for an opportunity to get a trade setup on our short term charts to confirm that bias.

We took our first trade to the long side and it just didn’t work out.  Took a three point stop.  Because we kept our loss small and we stuck to our plan, we were rewarded with a nice 5-7 point winner to take back our morning loss and walk away with a gain.

read more

Manage Risk Early To Be Rewarded Later 2.8.16

I am a big believer in trading small on your first trade setup on Monday mornings because you don’t want the first trade of the day and the week to have a big impact on the rest of your day and week.  I believe in building the day, then the week, then the month and that’s how you make your year.  You do that by managing risk.

My first trades on a Monday morning are always trades with a smaller amount of risk to make sure that I am not digging out of a hole for the rest of the day or even the week.

read more

No video today

Today we had a very solid look in the E-mini S&P that just didn’t work out.  I told our members before the open to be extra patient with all of the headline risk coming from Saudi Arabia, Russia, & OPEC.  Not to mention this is a huge day for earnings, and that alone can cause for intraday technicals to lose their impact.

I have learned through my experiences that when I get really good looks, and they don’t work out, to just walk away from that day.  I hate fighting the market when it just doesn’t want to cooperate.  I’ve lost that battle way to many times in the past, and leaving on a day where I felt we should have gotten paid (and we didn’t), the only trade left for me was to walk away.

read more

Trading 10 YR & Gold Using Data & Technials 1.26.16

This morning we focused on Gold because it had multiple technical reasons for a TradeSetup & 10 YR because we had Data & Technical reasons to take a trade.

First of all, if you don’t trade either of these markets it really doesn’t matter because my goal is to get you to understand why we looked at these markets vs any of the other markets we follow.  How the TradeSetup is really what matters and more importantly the process of getting to the point of execution.

Gold had a 1 minute, 5 minute and 60 minute level all right around the exact same price.  When I see multiple confirmations on multiple time frames then that is where I am going to focus my attention.  Today’s Gold trade setup didn’t work, but that didn’t mean it was a bad trade, it just means that it didn’t work.  NEWS FLASH, not every trade is going to be a winner, but when you lose on a trade according to your plan in my opinion that’s not a bad trade.

read more

Gold Short TradeSetup 1.22.16

This morning in the member room it was all about Gold.  That’s where we had our strongest look, so that’s the market we focused on.  I know that a lot of you probably don’t trade Gold, but this year Gold has been a decent trade & a good market to watch for color so I would suggest putting it up on your platform.

One of our key focuses when looking for a TradeSetup is when the 1 minute chart confirms with the 60 minute chart.  Whether you use our Beacon Indicators or a different strategy I personally believe that day traders should use longer term analysis (we use 60 minute charts) for your main levels and then wait for your shorter term analysis (we use 1 & 5 minute charts) to confirm the longer term analysis.

read more

Beacon Showing Us The Way In E-mini S&P 1.20.16

Day in and day out I talk about preparation.  How it leads to good anticipation and then solid execution.  When you have a strategy that you believe in and you prepare for the trades that you want to take, good things happen.  That doesn’t mean you always win, but at least when you lose you know why you lost.  No worse feeling losing money for trading in areas you had no prior intention of trading.  Been there, done that.

Today was the perfect example of how this mornings volatility could have easily gotten traders to play just because it was busy.  Again it was sooooo hard to watch the first hour of action go by and do nothing, but when TradeSetups finally came into play, boy were they juicy. Watch today’s video to see how multiple 7 plus point E-mini S&P TradeSetups came into play today.

read more

Good Things Come To Those That Prepare 1.19.16

Every morning I put out a Morning Brief for our traders to watch and I do that not as a gimmick to add for membership, I do it because the most important part of my day is my preparation.  A lot of trader’s struggle with patience…either they have to much or to little.

When you prepare properly that eliminates the issue of too little or too much patience because you now know exactly what you are looking for in regard to a TradeSetup.  If it takes 2 minutes or 2 hours after the open for a trade to setup then that’s how long it takes.  Anything you do in between that time is not part of your plan and that’s usually when traders get into trouble.

read more

Groundhog Day in E-mini S&P 1.15.16

Today’s commentary (not video) is exactly the same as yesterday because the exact same thing happened to us again today in the member room.  It was once again all about patience.  We had a nice look for our first trade that immediately stopped us out.  The key was not to take it personal and to then wait for the next TradeSetup.  That next TradeSetup took over an hour to come into play…not an easy task to watch a busy market for an hour when you’re down money.

I have been making it a point to talk about managing risk more and more lately in the community and it’s simply because during volatile times traders can get caught up in the moment and really get hurt.  I have been there and done that so many times that I am not only reminding you guys about managing risk I’m reminding myself.

read more

Classic E-mini S&P TradeSetups 1.14.16

Today was once again all about patience.  We had a nice look for our first trade that immediately stopped us out.  The key was not to take it personal and to then wait for the next TradeSetup.  That next TradeSetup took over an hour to come into play…not an easy task to watch a busy market for an hour when you’re down money.

I have been making it a point to talk about managing risk more and more lately in the community and it’s simply because during volatile times traders can get caught up in the moment and really get hurt.  I have been there and done that so many times that I am not only reminding you guys about managing risk I’m reminding myself.

read more