Preparing ES Emini and MES Micros Traders
To Trade In Our S&P Trading Room

Transcript
all right happy Tuesday afternoon let’s
do a combination into of the day chart
and me recording the trades for our
analytics
so let’s go so first of all I always
measure the IB High that’s not a trade
because we we were already there so the
IB High doesn’t give me anything not the
IB High the overnight High the overnight
low came here vomit straight through
let’s just check this trade real quick
and just make sure that it was a vomit
straight
through certainly a vomit straight
through okay
so what we’re going to
do so we’re going to mark this as
Tuesday this was during the am
trading this was the overnight low
and what do I call that for
Trend I think it’s
chop I think it’s chop cuz this would be
the first ladder I can’t call that with
Trend so I’m going to call that in chop
it is certainly a full loser what I do
is I come in here
and highlight that then I come over and
I I will screenshot this so I can have
it in
my records for long term drop this in
here now this was
also
after liquidity
grab
and
two eight point
candles and in fact I want to measure
one more
thing from here to here would that have
been a third eighto candle actually it
would
have so three eighto candles and then
we’re going to go to a special situation
up here because under special situation
I’m going to call this as an eight-point
candle no trade
zone eight-point candle no trade
zone um I wouldn’t call that a break-in
trade okay so boom
loser uh there was no other trade there
then we came
down and um boy I really should have
been tracking the strong levels but I’m
not I think I’m I’m just not we know
they’re very
successful so here we go up no two
candle clearance this is a
backside
and that was the entry I took right
there I FR ran that just a little
bit um with the
trend in fact I actually had three
orders but it only got me into one of
them which is one reason I front run so
let’s talk about that for one second so
there’s a fair value Gap right here when
I really want to be in the trade I will
have one contract just before the wick
here one contract cuz I want to get in
it cuz if it’s going to be a strong move
it probably won’t even fill the fair
value
Gap so let’s measure
this actually let me turn
on magnet tool cuz I’m not
exactly stop I’m not
exactly right
there off the
wick so certainly that’s a trade this is
end of the day chart so I’m going
to make a little note here this was a
thre minute backside fair value Gap plus
I’m going to put strong level because
that does need to be in my opinion
denoted uh because it was an extra
reason I certainly entered the trade
okay so
Tuesday New York lunch ntz is really a
no trade zone I’m going to find out if
that’s really really 100%
accurate um so we’re going to see
backside pardon
me
backside This
was um first ladder second ladder so I’m
going to call this backside with the
trend best entry was a
wick a touch and go it was with the
trend second ladder what um
jeez it’s either second or
third
man I’m going to go third cuz on one one
minute is what we were watching it was
definitely a third um on there on this
though I would still count up the
third um fiveo profit potential
yes uh so let’s take a screenshot of
this
want to make sure this is probably in
it a screenshot of
that and the only reason I traded longer
and I took this trade in my no trade
zone it’s because we vomited 65 points
we started having evidence of lading up
the risk of short covering but was high
and I wanted to be long if possible so I
did
it
um and
done don’t know why I deleted
that okay so backside with the trend
there and then nothing nothing
nothing then you had a muddy weak front
side right
here
there’s no way I would have taken that
trade there’s no way I would tell you to
take that trade unless you really wanted
to be long I mean I’m going to count it
Tuesday no actually I was in the PM PM a
weak front
side
um a weak front side no fair value Gap
I’m going to say that was muddy the best
entry was the
base um I’m going say was wiggle wiggle
wiggle let’s go to a one minute
chart how did that bounce okay you had a
pretty decent first bounce let’s see how
much did that bounce and would you have
been okay more than two points so no way
you should have taken profit I would
call that chop at this point I’m going
to call that
profit and let’s go back to a three
minute
chart
I’m just going to circle
this screenshot
it drag it in
here
okay now let’s mark this for our end of
the day
charts muddy 3 minute
week front side is what I’d call
it all right all right
um You have to call this a break
level all right let’s submit
this
all right we got
Tuesday
pm. weak break level it’s a weak break
level cuz there’s no
backside I even sure you yeah it’s just
I’m going to call it
muddy um best was at the base there was
a touch and
go
cuz that would have been the one you
entered did it go Five
Points I’m going say it had five point
potential I’m going to say it was
chop profit fiveo
potential okay let’s screenshot
this
actually
I got to I want to Circle this cuz I’m
just trying to make my life a little
easier in the future if I decide to look
at
these might as well record it right now
while I’m here
right um I got to call that
counter
break counter what do I call it over
here I said chop but ladder ladder
ladder it does a little pull I that’s I
got to say that’s counter
actually
counter okay
save comes down I know I got a front
side right
here
so
so I got Tuesday I got a strong front
side because that became a this is the
back side this became a front side so
that’s a strong front
side um lad I’m must
call there’s no difference between Bas
and Wick so I’m not going to mark
that
um not really going to say we’re in the
the C of 8o candles but you know what
was this trade was in the sea of 8o
candles and I need to go to actual data
chart and Mark that on that about that
backside so let me come over here to my
chart backside special
situation that was an eight-point candle
land this one right here was 8 point
candle
land now um this is a front side a
strong front side no difference between
the base and the wick this wasn’t a fair
value
Gap
um I forget about the backup levels I
need to go in over here
and mark the backup levels
too backup
level that backside had a backup level
yes the break level no the weak front
side I’m going to say
yes had a back a bubble okay um now
let’s come back in here um that was
pretty much touch and
go how much did that did he
bounce okay not five points but you made
profit
chop
profit
screenshot
it um nothing else to
note let’s go
submit now for our end of the day charts
let’s denote
this front side fair value
Gap all right did we leave any levels
behind oh there was this front side
right here I missed this
one there’s a weak front side side so
Tuesday
pm. week front side cuz there was no
backside
development um fair value
Gap there there was no difference there
did it have a backup level I’m going to
say no CU this break level is already
tested none of that created a break
level this was a touch and go this was
chop this was profit did it go Five
Points
yes let’s denote
that I might have to rescreen shot
then let me get a
circle
screenshot
all right let’s put that in there uh no
special
situations bada boom bada boom
perfect okay so then price is shooting
up there was nothing here to trade there
was a backside
here way over
here I don’t know what I just did I want
this tool
okay and you had a front side as a a
ugly front side as a
backup but you also
had a breake level up
here so let’s denote all of
that so this was
Tuesday this was during the final 30
minutes um this was a
backside this was an affair value Gap
this was an eight-point candle line in
fact the third eight-point candle
there’s no way I would have taken that
trade but I got to record it I mean the
purpose of recording is how strong are
these
levels not even considering anything
backside boy you needed the backup you
needed the backup level I try to denote
that total
counter um
how did that behave in a one minute it’s
hard to say you lost money on it touch
bounce how much did that
bounce so the first touch bounce yeah
you didn’t need the backup level
actually you didn’t need the backup
level it was profit it was not a five
pointer though
um I’m going to Dem mark this was on a
one minute chart I wanted to see that so
we also have a front side trade here
that we record backside right
there okay so now we’ve
got
Tuesday uh strong front side cuz you had
a backside so strong front side fair
value Gap a candle Point Land it was a
doe though I hate
does let’s go to three minute
chart got to count it though nothing
differ there yes it had a backup it had
a break level um it was pretty much
Touch and Go total counter and I got the
eight
points um
the it’s also the final
30 did
I right here final 30 got to make sure I
note
that you know what and that last trade
was the final
32 I need to make
sure I did note
that I put first 30 but it was the final
30
man we got to watch all that final 30
yep um so this was the front side fair
value Gap it was eight-point candle land
you did have a backup it was touch and
go um it was
profit I’m going to remove that for a
second to not that do
this
picture will tell me everything I need
to know later yes fivepoint Runner I’ll
give it
that all right
submit now let’s go
back let’s reset our
chart
all
right CR side fair value
Gap and this was a profitable trade you
got to drop in time frames and look at
it backside fair value
Gap did I delete this one I don’t know
what I
did side fair value
Gap um we’re in the final minute of
trading this is why you shouldn’t trade
this final hour look at that all right
so I need I’m going to raise that to
here it’s a break
counter way
counter last last
30 last 30 so this is the end of the day
chart I’m going to post in the
group um this was front side fair value
Gap no backup front side fair value
Gap no
backup and so maybe you don’t take it
you
know um
I’m going look at all these eighto
candles
just here I think I got to come over
here where do I put this let’s go here I
don’t need this I’m not tracking
halfbacks
okay so let’s move you over here let’s
move you over
here I don’t want to cover
up
and I’m done with that
tracking I think I’m going to turn off
the
essentials we’ll turn off the
micros let’s go
here
um we’ll move you over here we’ll move
you there
here that’s fine I’ll do that and that
was a brake
counter no back
up that was a back side that was a front
side
um I’m not going to count a break level
in the final one minute look at that
retraced look at that that’s just insane
that’s the final short covering this is
what I would have hoped would happen
over here but it didn’t I mean look at
that unbelievable how they can destroy
Traders I think that’s the end of the
day
chart so what I’m going to do just for
clarity I’m going come here
Tuesday April 9th one two three four
five six seven seven for
seven seven for
seven trades today think about that
that’s so
cool all right let’s go to 40 here let’s
make that a little larger I’m going to
turn off my strong
levels now if I was keeping that as a
trade Journal I would keep on the strong
levels just so there you have some data
all right and now I’m going
to save
this three minute end of the day
chart and I’m going to post it over
there okay I hope that was educational
and fun