ES & MES Levels and Setups and Plans for Today’s Trading Session: Monday Oct 20

Opening Remarks

Micros Trader opened the AM Briefing with a recalibration of trading goals. He emphasized the importance of focusing on point-based metrics rather than dollar-based Profit & Loss (P&L), especially for newer traders. This mental shift removes the emotional pressure of financial targets and centers the process on skill development and consistency. According to Micros Trader, consistent point accumulation is the foundation for scalable, sustainable growth.

The Philosophy of Daily Trading Goals

A core principle shared in the briefing was: “You can’t look at it as P and L… as in dollars. You got to look at it as points, in my opinion.”

Micros Trader outlined clear benchmarks for defining a successful trading day:

• A good day: 5 points
• An excellent day: 10 points
• An exceptional day: 10 to 50 points — “You crushed it.”

This framework encourages traders to build discipline through consistent execution, which naturally leads to P&L growth over time. The roadmap looks like this:

1. Achieve 5 points a day consistently over 30, 60, or 90+ days.
2. This builds confidence, sharpens trade execution, and improves key trading behaviors like better entries, holding trades longer, and adding to winners.
3. Once this skill base is established, a trader can begin scaling — for example, moving from one micro contract to two, then three.
4. Over time, this leads to increased dollar-based returns without changing the underlying process.

Micros Trader also commented on the challenges presented by proprietary firm funding requirements. He advised traders to choose programs with more reasonable targets. For example, a $200/day requirement is considered high-pressure for micro traders, while $100/day is seen as more manageable.

Market Analysis and Outlook (Monday, October 20th)

The market is currently in a tight consolidation phase. Micros Trader observed that price action remains entirely within Friday’s range, forming a narrowing wedge of lower highs and higher lows. “Boy, we are getting tight… Which way is this thing going to explode?”

This kind of tightening often precedes a large directional move. With a light economic calendar until Friday’s delayed CPI report, that data release could serve as the trigger.

Key technical features discussed include:

• The Upper Range: Price failed to break into this range last week but is now testing it again after a significant pullback.
• The Daily Trend Line: This line, previously lost and now back-tested, is forming resistance. Price has made several lower highs against it, indicating pressure at this level.
• The Magnet: An all-time high is described as “the biggest magnet on the chart.” Micros Trader believes the market may tag that level before any real downturn.

Despite the resistance, Micros Trader maintains a bullish bias. Five of six battle plan trades released the night before were long-biased. VWAPs are upward sloping, and price is above them, indicating that bulls are still in control.

Micros Trader is currently long one contract from battle plan trade number two, which he initiated the night before. That position has 10 points locked in, and he is remaining hands-free to let it develop.

Actionable Trading Strategy and Scenarios

Micros Trader provided detailed guidance on how to manage trades in this type of market.

He advised against initiating new long trades directly at trend line resistance: “I would not want to be initiating a long right against this. I didn’t mind initiating a long here coming into that area, but I don’t want to take a long right here at it.”

He outlined a potential bullish scenario:

1. Wait for a confirmed breakout into the upper range.
2. Look for a pullback to the bottom of that range.
3. Use that level to either initiate a long or add onto an existing long. The trade idea would be a move from the bottom of the range to the top.

For those who missed the initial long entry, the advice was to stay patient and wait for the next high-probability setup: “If you’re flat and you miss that move, who cares? There’s another high probability trade around the corner.”

The Strategic Pause: A Psychological Framework

Micros Trader concluded with a trading psychology segment titled “The Strategic Pause,” inspired by a devotional reading on Nehemiah. He encouraged traders to insert a short moment of pause before entering a trade to evaluate whether the action aligns with their trade plan — or whether it is driven by fear, greed, or ego.

“Nehemiah faced a high-stakes moment… but he inserted a crucial pause. A quick prayer before answering.” That pause allowed him to act with wisdom instead of impulse.

Micros Trader emphasized that this space — the pause between stimulus and response — is where disciplined trading lives. It allows traders to ask reflective questions like, “God, is this my setup or my ego?” This kind of intentionality can prevent emotional errors like FOMO entries or plan violations.

He recommended implementing a simple pre-trade routine, such as a 2–3 second pause or a short prayer, to ground decisions in discipline rather than emotion.

“Lord, train me to pause to seek your wisdom before every trade entry. Help me distinguish between genuine setups and emotional impulses and give me the clarity to act on my plan rather than my feelings.”

FUTURES TRADER Q&A – AM BRIEFING INSIGHTS

How should traders, especially newer ones, calibrate what constitutes a good day, and what target point ranges are suggested?
Traders should look at their daily goal in terms of points rather than profit and loss (P&L) in dollars. The dollars will increase as confidence improves. Five points a day done consistently is considered not bad, 10 points a day suggests the trader did really well, and 10 to 50 points means the trader crushed it. It is also recommended to choose a prop account that has a lower daily requirement, such as $100 a day, rather than $200 a day, as a lower amount puts less pressure on a micro-host trader.

What major economic event is expected later this week, and how is the current market positioned leading up to it?
CPI (Consumer Price Index) is apparently scheduled for Friday, with Thursday being the day before CPI. The market is currently getting tight, pinched inside of Friday’s range, showing a series of lower highs but also higher lows. This tightening suggests that a big move is coming, which may or may not wait until Thursday and Friday for the CPI release to happen. At the current moment, with upward slanting VWAPs and being in the upper distribution, the bulls are currently in control.

What practice does the daily devotional recommend for traders to move from impulsive trading to intentional trading?
The daily devotional recommends the practice of a strategic pause, which involves praying before positioning. This is a quick prayer or calibration, sometimes referred to as a three to two-second pause, inserted before executing a trade entry. This creates space between the stimulus and the response, where disciplined trading lives, and helps the trader distinguish between genuine setups and emotional impulses like FOMO trades.

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• Day Traders Blog: Market Recaps, Levels, and Psychology
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• AM BRIEFING Archive: Sep 8 – Preparing for ES Emini & MES Session
• ES Battle Plan: Daily Trade Setups & Game Plan
• Today’s AM Briefing: Key ES & MES Levels and Scenarios
• MES Micros Blog: Oct 20 Game Plan & Strategy
• Rumble Video: ES Key Levels and Trade Setups for Monday
• Community Bulletin: Micros Trader YouTube Post