Fri AM Briefing Preparing For Our Emini Trading Room 05/03/2024

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

📚 From the Trading Library — free lessons on the concepts in this briefing

▶️ Never Trade Alone Futures Trading Community▶️ Move Your Stop to Break Even: The Gift of a Risk-Free Trade

Transcript

Price Action Bounce Trading System. How To Scalp ES Emini or MES Micros Futures.

Helping Futures Traders Via Our Core Strategy Academy Training Program and Futures Trading Group – The Best Emini Group IMHO. welcome to the am briefing video presented by micr trader.com where together we trade better good morning Traders thought today we’d use some peaceful music matches the theme of today’s quote I say this quote every morning to my wife when we do our Bible study but it’s a little bit different than this one but I’m going to give you the one I use drive to live a peaceful life and boy that is one of the gifts of Aging as you learn that that’s the most important thing is striving to live a peaceful life not wanting more needing more striving for more more but to live a peaceful life and how do you do that the next two parts so strive to live a peaceful life minding your own business strive to live a peaceful life minding your own business boy our world is designed and set up to where you can easily be in someone else’s business Twitter Facebook Instagram name it it’s all about being in someone else’s business business and sharing your business so strive to live a peaceful life minding your own business and working with your hands you want to sleep well at night do those two things you want a peaceful life do those two things mind your own business and work with your hands and I’ll tell you guys you want to do something really awesome with your wife read to her whether it’s the Bible or Lord of the Ring or the Mount of Monty Chrisco or where the two Fern Where the Red Fern Grows read to her it’s a delightful delightful experience but strive to live a peaceful life minding your own business and working with your hands so what other Traders might be trading today just mind your own business and do your own thing so guys it is Friday Friday rules are full effect just as I said yesterday if I if you listen to the am briefing yesterday I said am rule start today so it’s really Friday so today they really apply don’t give your week back don’t do it today trade with a smaller daily stop loss you might even say you know what I’m going to trade this but I’m going to trade it small if at all and if I take one loss I’m done I’m out take a percentage of your weekly profits yesterday I said Friday rule start yesterday take a percentage of your weekly profits whatever you are up let’s take that as a 100% number I’m only going to risk 10% of it for Thursday and Friday if I lose 10% of that I’m out I’m done there are easier weeks there are easier days to trade the most important thing that you need to know when we get new members I tell them you have to learn when not to trade and trust me it’s a journey for all of us the first one you’re going to learn are there certain days to not trade there might even be certain weeks not to trade such as this week but there’s certainly certain days to not trade then you narrow that down to their’s certain times of the day that you trade better I’m a much better Trader in the AM than I am in the PM I still try to trade the PM too often I still need to learn to say no let’s make all of our money still in the am so learning when not to trade but it’s Friday Friday rules go into the weekend a winter go into the weekend or winter it is nonfarm payroll day small if at all so I’m not going to do an in-depth amm briefing although this video might be longer because we’re going to review yesterday one of the quotes I love to show share on non-farm payroll Friday is the quote by Jesse Livermore there are days to go long there are days to go short and there are days to go fishing and today is that day to go fishing it’s that day to go golfing it’s that day to to go clean out your garage it’s that day to grab your laptop and hit a coffee shop and do a candle by candle replay of every day this week it is a day not to trade but if you are going to sit down on the chart and trade today leverage down how can you leverage down well number one don’t trade your cash account today don’t trade your funded accounts today you got an eval account okay you got 10 eval accounts maybe just do one of those or just literally paper trade or say today I want to trade on the chart I want a chart trade today and I’m going to practice that today or just bring out a pencil and piece of paper and literally journal the day like an investigative journalist will do what was happening how were you feeling you would have went long at 83 Journal of the day or literally just grab your favorite beverage have your Dom closed kick your feet up and say I’m just going to watch I’m just going to listen to the zoom I’m just is going to trade through someone else’s eye someone gets long I’m going to be supporting them how would I manage this trade while they’re in that trade so there are ways to dial it down so what I want to do is let’s look at here we go yesterday we had about 12 trads and in fact if you go to the end of the day charts I marked those out for you um these were the time times of the trades this was the results the profits and the losses and then what was the trend we had a lot of chop trades early on then we had with the trend and there was a counter parabolic Trend when we go parabolic should you be counter trading I don’t recommend it um then what was the level and then what was the chart and that’s how I track them so let’s hop on the chart now and let’s just look at yesterday so when the day opened London was stacking on top of Asia we had the Gap that we talked about on Zoom um our indicators would ah had you mark this and this as uh session levels we came down and grabbed that session liquidity and then came back in now I’m not going to answer this question but I want you to answer it what trade should you not be taking when it grabs session liquidity and comes back in if you don’t know the answer to that question ask on the trading floor and I want another Trader to answer the question it grabbed session liquidity and it came back in what trade should you not be taking all right so as we were coming towards that Gap in the morning I was mapping out where you could go short if you wanted to go short towards the filling of that Gap um is anyone shocked it went and grabbed yesterday’s liquidity no es has to eat it’s a Pac-Man it is seeking that liquid liquidity once it’s grabbed the liquidity on the south end of the chart what is most likely going to happen next it goes to the North End of the chart the Bulls were in control I was saying the play is longer flat in fact yesterday I went live on YouTube in the afternoon in this area whoops this little area here mapping out what was happening if you were on that you know I continually was saying the play is longer flat the play is longer flat the play is longer flat if you do decide to counter trade realize you counter trade please do it small do not add to a Los or do not move your stop loss look for opportunities to take the gift of Break Even because you are counter so the play yesterday was long or flat did we take out one break level to the South my Traders did we take out one break level to the South my Traders only at the end of the day and in fact I mapped out this short right here on um YouTube that was it that was the only short on this chart that you should have taken in my humble opinion now when the day started one could have easily drawn in this trend line say okay uhoh where are we going and you needed to know and being on Zoom is helpful because together we trade better that we grab that session liquidity came back in and in this area I’m saying longer flat longer flat longer flat longer flat longer flat that will help you stay on sides to map out these trades I’m like a tour guide for ES showing you the SES along the way and then as you were watching the day develop and you’re watching the break level stack you should be have on your chart something along this line then what happened then there was a shift then it went parabolic this region here on the chart here let me just draw it this way from here on up here please do not be shorting this you are now in a parabolic move it became more aggressive and in fact on a 30 minute chart what was noted is we left behind two sets of single prints we had single prints here and we had single prints here let’s go back to a three minute chart when we were on zoom and I was talking about not on Zoom when I was on YouTube live talking about the breakdown trade I said the first Target is the first set of single prints search on my YouTube channel strength of the move and go watch that video when there’s a strength of the move heading a certain direction careful counter trading it and if you don’t know how to trade the breakdown well that just requires butt time on Zoom with me um to get that and if you need I was saying okay guys play as longer flat play as longer flat but up here we’re about the seventh the fifth or sixth Ladder Up and I said I’m not going long it’s outside of my three to five ladders that I like to trade so therefore I’m not trading did I miss several opportunities to to make very well on a long yes why because the trend is hard to break Trends are hard to break Trends are hard to break and do you think you’re going to call the exact top so if you counter do it small look for the gift to break even do not add to your losing trade do not move your stop loss if you had to wait wait till there’s a strong level like uh yesterday when we skyrocketed up we stopped here on a dime okay maybe at a strong level you entertain the thought of maybe I’ll take a small counter trade there but when you’re watching Trend here and this is mapped out this should be clear as day that the trade is long or flat the trade is long or flat and hopefully you stayed on sides so today today if you were going to get your refreshing beverage prop your feet up and just watch the price action this would be something to do today is for you to pay attention to Trend now this is a set of single print still on your chart it’s nonfarm payroll this morning I bet it doesn’t play a role at all level schels nothing matters um we will be live before that candle I need to get this video out cuz we uh news event is in 2018 8 minutes so I need to wrap this thing up and of course straight sideways right it’s just waiting for the next piece of information apparently um Apple’s doing stock buyback increasing the dividend I saw somewhere that someone had said that uh Warren Buffett gets an extra 10 million a quarter because of the dividend so um very interesting so yesterday was pretty straightforward now there were tons of eight-point candles yesterday the a point candles from all of my research does not reduce the win rate but it does increase the risk it doesn’t in decrease the win rate oh my goodness it does not um the win rate is the same but it does increase your risk that’s what I’m trying to say because when it goes eight points your direction that’s nice I was in this short when it went when it went eight point candle down right there beautiful and then where did it stop where did it stop you know where it stopped it stopped at the opening and the set of single prints that’s where it stopped I was hoping it continued down I was hoping it went to the next set of single prints which were down here but that didn’t happen oh well you manage your trade we never know how far it’s going to go but we try to manage it for a runner because the runners can really make a day it can really make a week we’re good at getting 10 20 30 pointers in fact in our group I added the hat trick under the leader board um where you can so you post your 10 pointers 20 pointers 30 pointers well yesterday one of my Traders congrats papy had multiple 10-point and plus Runners so he had made a hattick which was three 10-point runners or more so that’s a new thing we’re going to celebrate in our group is the hatrick if you have three or more 10-point runners in a day uh post it there in the hatrick category so you can stand and be recognized for your accomplishments all right guys I’m going to get this video out I’ll see you live on Zoom

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