Emini Trading Blog

Archive for the ‘Commodities’ Category

Initial Claims Report, released at approximately 08:30 (all times, EDT) rose unexpectedly, further straining the current bull-market. Or has it? As of 12:25, price has exceeded yesterday’s high by six points! If you believe that “price never lies”, the bulls then are still clearly in charge. That being the case, deciding where to get long is the job at-hand.

Regarding trade entry-tactics, what would you say, is the biggest variable in the answer to the question of where? There are numerous tools available to aid the market technician in positively identifying support. Further, there are numerous tools capable of broadcasting an indication of the strength of the momentum that pushed the price higher.

After working with hundreds of traders, from beginner to 20+ years experience, my opinion is that the biggest variable is YOU, the trade operator. Each trader reacts differently to the readily available data referenced above. Yes our differences can be vast. Remarkably however, most I have worked with, seem to have one of two, primary “trader personality” types.

First, there is the swashbuckling, warrior-style mentality. Exorbitant risk, large drawdowns, and a tremendous sum of hope prominently characterize this type. Secondly, there is the anxious, fearful type. Self-doubt, trade-execution inconsistency and regret rule for this group of traders.

Yet, the majority of BOTH “trader personality” types desire an income. $500 per day is a typical starting point. To showcase how BOTH types trade, how BOTH types face pitfalls peculiar to their “trader personality” and how EARNING $500 PER DAY IS POSSIBLE FOR ANYONE willing to grow, I will now introduce to you two (fictitious) traders!

Trader 1: Bob Bright. Trader Personality Type: Aggressive. High risk, high reward.

Trader 2: J.R. Down. Trader Personality Type: Fearful. Out too soon, if in at all.

Both have $10,000 to start. Watch and read further updates. Both “trader personalities” will be showcased routinely. Then I will address how to move past the limitations associated with keeping rather than expanding your trading mentality. See you soon! – Jared

You like trading commodity futures. Nearly all are tangible and perhaps easier to comprehend. My trading began in commodities. It was probably four years before I traded an e-mini (ES) contract! So naturally, I was eager to test what I learned from Trading Concepts in my early markets.

Have you spent any time at www.tmitchell.com? If so, you likely saw a shocking claim. For years, Todd has said that he can educate anyone with a will to trade, how to “read the markets like a newspaper”! When I read that, I recall thinking it sounded unrealistic. And based on what most people know, it does.

The majority are convinced that “nothing works on everything”. However, holding to that is constrictive. Since it is inherently negative and withdrawn, such a view prevents growth. Which brings me to the advice I would like to share.

In order to become a master trader you must put into practice universally viable trading methods. Unique indicators can be great. However, ALL indicators use some aspect of actual market data in order to populate it’s individual inputs. Therefore, become a student of your markets price. Just price alone.

Imagine the improvement in your consistency if you knew how to prioritize each new high and new low? How to observe the market in order for it to communicate to you when to trade? How to avoid the majority of all those whipsaw scenarios?

To start moving up in your trading keep positive. Build viable price structure analysis skill. And seek out others that are like-minded.