Emini Trading Blog

Posts Tagged ‘beginner’

That a multitude of tactics can earn you money is a well known fact. Thus, each of us use what works for us. However, even within our skill-set, what works well varies, don’t you agree? Isn’t it true before entering for example, we survey our tactics collectively. Then, after endeavoring to make the best choices based on the information we have at the time, we choose which of our tactics will put us in the best chance to earn. Essentially, we place some of our “rules” entirely above others. Yes, a set of rules is advisable for a beginner. However, the discernment that comes with experience and a willingness to investigate what I have suggested can enable one’s earnings to surpass the mechanical approach.

TODAY WE SAW:

Sizable gap down followed by solid buying up to and beyond opening high. Eventually, price exceeded opening high by some four points. At the 916-ish highs, came a classic Trading Concepts sell opportunity. After the sell-off reached expected support areas between 909 and 912 and an awkward buy opportunity came our way, price largely traded sideways for the balance.

BUY-SIDE OPPORTUNITIES:

This buy opportunity was a bit awkward in that price was still trading in weak territory and lacked a significantly higher price penetration when compared to Friday’s close. However, on an intra-day basis, the 916.75 high before 11:30 a.m., EST provided a clear sign of bullish strength. So, a long entry no higher than 911.75 was advisable. Had that been the entry taken, after implementing Trading Concepts trade management system, a loss of six tics would have occurred. RESULT: -6 tics.

SELL-SIDE OPPORTUNITIES:

This sell-side opportunity was as natural as the earlier buy opportunity was awkward. A textbook Trading Concepts entry through-and-through. In an area of resistance, at a time we expect counter-trend strength there occurred a powerfully bearish entry trigger. Entry would need to be no lower than 914.50 and all taught profit objectives could have been filled. RESULT: +6 tics, minimally.

LOOKING FORWARD:

Overall, today’s trading communicates agreement. Typically, this is short lived. So, monitor key highs and lows on an inter-day basis. As these are penetrated, expect swift movements. However, intra-day we will continue to note significant areas of support and resistance. Then, trade these as triggers manifest themselves. For assistance, help is available at the link above or you can email to: jared@tmitchell.com.