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

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 ES MES Traders
welcome to the am briefing preparing you
to trade live in our e- mini trading
room at micr
trader.com good morning Traders happy
NFP week and Powell bombs a couple times
this week so it will be really
interesting so before we get into it
there’s two things I want to share I put
these in my group last night things I
came across on Twitter in all honesty I
Trader Discipline
am not actively involved in Twitter at
all so basically this first one is which
set of headaches do you want to deal
with and every business has its unique
set of headaches by the way I was
talking to a friend yesterday who’s in a
different industry that has customer
returns okay and he was talking about
the headache of dealing with that and I
was like oh my gosh it’s one reason I
love trading right there’s no customers
there’s no employees there’s no products
there’s no place of business um it’s us
and a computer but that doesn’t mean we
are without headaches and this great
quote here from Jim ran everyone must
choose one of two pains the pain of
discipline or the pain of
regret that’s true no matter which
business you are in but the pain of
discipline is to me the most glaring one
in trading and that discipline involves
risk
rules if you go to my website micr
Risk Rules
trader.com and click Risk
rules you will see here risk is the only
thing you control and if you scroll down
the page I have not finished a video for
them all but if you click the first
little box there that says video a video
will be there and you can listen to the
video and I talk about that risk Rule
and then go down to the next risk rule
cuz risk rule number one
says no when not to trade and that’s
going to be a topic for this week as
well know when not to trade we have NFP
week in front of us I have encouraged my
traders to journal the last NFP week and
hopefully they will reference those
notes and make decisions of when they do
not want to trade the next thing that’s
National Debt: Alarming
just one day we’re gonna pay the price
such as our border they say that we have
led in more illegal people into our
country the last 3 years than the
population of 26
States that’s
alarming one day we will pay the
price one day we’re going to pay the
price for our national debt we had a
trillion doar every 100
days and based off projections it’s not
not that long away where we will be
adding a trillion dollars every 30 days
we are borrowing money to pay interest
on our
debt one day we will pay the price for
that now if you looked at the market the
only the only anybody paying the price
right now are people who’s trying to
short this
thing so those are the people paying the
price right now but one day we will okay
News This Week
let’s look at the news drivers the week
what things stick out Powell
Powell nonfarm
payroll we probably don’t have to worry
about anything
today but as the week progresses you
might want to consider how much do you
actually want to trade Thursday Thursday
is usually the most fantastic day to
take off um you can’t uh trade nonfarm
payroll it’s out an hour before the
Market opens um but there is definite
landmines on the chart
today well this
week all right so this is a post
Post Parabolic Move Monday
parabolic move day monster parabolic
move on Friday we’ve Consolidated
overnight London has taken out Asia’s
low and high and inq actually made an
all-time high in the overnight session
but this is post parabolic move day
usually characterized by either
retracement or continuation or chop
right I know those are the only three
options I would personally Love a
Monster
retracement but if you look at the daily
chart and here’s this daily trend line
here um everything says consolidation
continued with the trend so we shall see
but the day after a big day they can sit
here for a day or two especially CU we
have non un Farm payroll this week who
knows what’s going to happen definitely
a level 10 week and we going to follow
What Are We Going To Do?
price because the tip here today is
Tip #1
don’t be a
prognosticator we’re not predicting our
forecasting price and I will say after
looking at Twitter yesterday everyone’s
got their
predictions and it’s best to ignore them
we’re going to trade the price as it
unfolds in front of us we’re going to do
follow price we’re going to do what
price tells us to do we’re not going to
predict what price is going to do and
trade off our prediction no no no and
Tip #2
the other tip here because I did a
workshop this weekend in my group don’t
care about the profit of any
trade you want to be a loss
prevention specialist first a lost
prevention specialist first and that
becomes even more important if you are
counter trading okay if you’re counter
Trend
trading you certainly want to be a loss
prevention specialist and perhaps
entertain the thought of never counter
Trend
trading but there are times you can do
it but be a loss prevention specialist
worry about staying in the game worry
about should I take this gift of Break
Even should I take a half loss
so don’t worry about the Prophet The
Prophet will take care of itself if you
are doing what Jim ran said
earlier you are dealing with the pain of
discipline and if you are being a
discipline Trader The Profit will follow
Bulls ARE In Control!
so the Bulls have been winning for weeks
and months one day is not going to
change that we could vomit today and the
odds are it doesn’t change that we’ll
just end up retesting something
it will take many days if not weeks of
selling to change the fact that the
Bulls are winning now I do have a bull
bear line here but that’s mainly saying
if we come here and we come back in I
mean this on this side you really want
to be looking for Longs maybe on this
side you can’t look for shorts that
doesn’t change that the Bulls are in
control okay so if you choose to go
short you’d better still know the Bulls
are in control that doesn’t mean you
can’t make a tremendous amount of profit
shorting but know the Bulls are in
control and when that thing starts
reversing get out of the way one day
doesn’t change it though so our trend
Trend Lines
lines we’ve got this 30 minute trend
line here we have the our hourly trend
line here we are still above them all
the Bulls are in town baby news drivers
as we talked there’s nothing today but
it is n FP week as the week progresses
the more this
becomes what you’re concerned about
overnight we discussed as well London
Overnight
took out the Asia sessions highs and
lows inq actually made an all-time high
in fact let’s
All Indicies
go look at everybody so here’s the
halfback from Friday’s session you can
see inq tapped it it’s coming
in looks like we’re all coming in
except Russell the redheaded
stepchild so it’ll be interesting to see
what happens today I can’t wait
actually and so strong level so I will
Strong Levels
be publishing the new strong levels this
morning in our indicator so if you are a
member of our group uh make sure you get
the new version on your chart you know
it’s the new version because when you
look at the names of the indicators it
will have the current date I have not
even updated it on mine yet so I will be
publishing that here soon so it should
say March the 4th on there instead of
February 21st because I have not updated
it since February 21st because it was
not required now I think we’ve got some
more data and I have updated them so
this is a strong range right in here
from
1525 to apparently 2350 and then I
consider this a range with a strong
level in the range and I’m considering
this the bull bear Zone okay depends on
when we get down here that if it’s a
further down the time frame you’re going
to be bumping up against this bull bear
Zone plus a daily trend line so
definitely an area of Interest where
price
could test turn around head north make
new highs why because the dominant trend
is the Bulls are winning Stay Green my
friends and to learn more about our
group go to microstrader.com

Transcript
this price action is no thank you no
thank you no thank you our core strategy
would have given you three trades if you
wanted to trade in this tight disgusting
range which I do not I took one short
made small I’m done I’m going to wait
for the afternoon as I told my Traders
let’s wait for our wave it might come
this afternoon it might come tomorrow
who cares
trade favorable price action as we said
in this morning’s a.m briefing parabolic
move on Friday day after a parabolic
move plus
Monday yeah we’re kind of getting what
you expect just more
consolidation I’m a little surprised we
didn’t test the halfback yet so if
anything this is still all very bullish
there’s no other way to look at it so be
careful trying to short this
I’m going to be back in the afternoon in
my group Stay Green my friends and to
learn more about our group go to microstrader.com