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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

▶️ Green Over Greed Stop Trading When Profitable▶️ Knowing When Not To 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 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

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