Wed AM Briefing Preparing For Our Emini Trading Room 06/05/2024

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▶️ 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. Good morning, everybody. Wednesday, June 5th, non-farm payroll Eve Eve, one week from FC. Today’s quote is, “Listen to advice and accept discipline, and at the end, you will be counted among the wise.” I think Monday’s quote was something about, “Hang around wise people, and you will become more wise.” So, will listening to advice and accepting discipline. Alright, my friends, let’s get into it. Welcome to the AM briefing number 192, brought to you by micrtrader.com, where together we trade better. Alright, let’s get into it. So, tip of the day is, know when not to trade. Yesterday was a perfect example. The mental and emotional drawdown I personally would have experienced in that SLO and chop was not worth watching it. There is no medal for first place for watching slop and chop. I would prefer to save my emotional and mental equity. For example, today, maybe I get to trade all day. Today, maybe I’ll get into a trade early in the day and get to nurse it. But preserving that mental and emotional capital, I know at the beginning of the week, my gas tank only has so much gas, and I need to moderate that. And so yesterday, I only traded the morning and I was out. So, what are the news drivers today? Well, today is Wednesday. Uh, ADP nonfarm employment change, final Services PMI, ISM Services PMI—so weird times for these events. Look how they’re spread out. So, we’ve got some landmines in the morning as we’re trading, and then the CL—this, the clouds should clear after this. And we are two days before non-farm payroll, so today’s kind of the last—I said it yesterday, but yesterday was the last really good trading day. It did not turn out to be a really good trading day, in my opinion. We did have one entry that went for 40 points, so that was nice, but it was not a typical Tuesday. So, maybe today we’ll get a little bit of a trend. We look like we’re headed to all-time highs. We’ll see. Alright, so now yesterday, live on Zoom, if you watched that, we called out this long, this short, and this short. And like I said, we had one afternoon entry that I posted on the trading floor that went for 40 points, so that was really nice as well. So, some odds and ends here. So, our three primary entries you learn in boot camp are backside, front side, and break level out of—I have about 1,000 recorded trades for our system. Which of these have the most number of trades? Which of these have the least number of trades? Well, believe it or not, front sides are the winner, and they’re all pretty close, to be honest. They’re all in the 300s; it’s about a third, third, third, but front sides do lead the way. Now, I was surprised at the number of backside entries there. It was a little higher than I was expecting, um, but that not only includes backsides—let me just—it includes middle backsides. Okay, so if I thought it was a middle backside, I counted it as a backside. Um, there were only 44 middle backsides though, so if we wanted to remove that, that number would go from 341 down to basically 300. Um, so if you like what I do here in the AM briefing, guys, like and subscribe and consider becoming a member and trade with us live on the ESN NQ chart. So yesterday, it was great. Dave, I hope you don’t mind me sharing this. One of my members, he is just loving what we’re doing and just seeing trades after trades after trades. And yesterday, he pointed out one that uh, went seven points, and I said, “You are really liking this, aren’t you?” It is exciting, and he’s like, “Totally, George. I’ve always been drawing levels, but nowhere near in the world do they compare to anything you’ve developed.” Well, one of the things I do say is I don’t pretend to have invented anything. I’ve just simply have made a gumbo out of a number of different things and have put my own spin and interpretations and rules and limitations there. There’s a couple of things I invented that is not worth discussing, but in general, that’s what it is—it’s a wonderful tasting gumbo. If you want to learn how to trade these bounce levels, check us out. And then, one final piece to the puzzle, in my opinion, is seasonality here. Uh, look at June—not the prettiest looking month. Look at July—yeah, boy, that is very, very interesting there. So, we will see how that develops as the month progresses. We are in an election year, so that might throw a monkey wrench in that seasonality. So, to the chart, so yesterday we talked about this trend line, we added this one, and now it’s also really clear to see if we can add that one. Okay, okay. So as we’re zoomed in, I want to know if we get back to this line. Okay, um, that’s why it’s there. And also, notice what happened here yesterday. We in the, we opened, we touched that trend line, and came in again, then we finally broke it here. Let’s zoom in even a little bit more. Let’s go to a 10-minute chart here. So it finally broke it, and then it came back and backtested it, which we often see when your trend lines are drawn correctly, and then bounced off that as well. So now this is a delete; don’t need it on the chart. So let’s dial in here just a little bit, and let’s look at our strong levels. So, how did we do yesterday on our strong levels? Well, here’s the strong range; this seemed to have played a role. This level seems to have played a role, and then we shot straight up here between these two guys, and we’re playing—I was prepared to take this short right here this morning, but we actually didn’t get there, and it’s extremely counter, by the way, so it would be small with a 50% follow, and maybe I would get protection layers. We are just 50 points away from an all-time high. We’re obviously lading up, and also, where are we? We are just now getting into the green range here, and typically, it will want to explore at least to the red, if not all the way up. So we’ll see what happens, especially when price comes back in. How does it behave off this bull bear line? And yesterday, that’s exactly where we shot up to, was my bull bear line. Will the Bulls win and we continue to an all-time high? Will they fail and come back in? And once again, if we come back in, I’m going to draw this in, and we get back to here—I’m so sorry—we get back to here, and we get into the red, careful with Longs below. But at this moment, we are lading up. If I was to trade right now, the play is long or flat. I would most likely take a long off here, or I’d say, “You know what, I’m going to be a little greedier, and I’m going to do it off this strong level against Trend,” and probably try a long there. Anything else I want to cover on this? Um, I think that covers it, guys. So, um, I wish you the best of luck today, and I can’t wait to trade with my traders live, and I will see you later. Whoa, alright guys, that’s it. See you.

Commodity Futures Trading Commission. Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. Testimonials Disclosure: Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success. Risks Associated With Trading IMPORTANT DISCLAIMER By continuing with the Core Strategy Academy, Discord, and Zoom you also acknowledge and accept the following information: The material in this course is general in nature. It does not constitute personal investment advice or personal trading advice. Any advice provided is general advice only and does not take into account an individual's risk profile or financial situation. The author of this course content is not legally qualified to give personal investment or trading advice. Although the author is an experienced and consistently profitable trader and the information offered within this course is given with the best intentions and made to be as accurate as possible, the author has no idea what your financial situation is and everyone has a different tolerance for risk and different investment goals. The purpose of this course is to teach you how use technical analysis to assist in your trading, it is not intended to teach you how to trade even though many lessons do share practical techniques based on real-life trading experience. The lessons in this course are provided as hypothetical trading examples, not necessarily ones that are profitable or robust. While the creator of these lessons has used some of these techniques to generate profits in the past, it is not guaranteed that you will experience the same results and past performance is not indicative of future performance. Trading involves the risk of loss as well as the potential of profit. It is generally advised by successful traders to never risk more money than you can afford and are willing to lose - both on a trade-by-trade basis, and a portfolio basis. You should seek independent financial advice from a qualified professional in deciding if trading is appropriate for you. Please also consider the appropriateness of that professional advice in light of your own objectives, financial situation or needs. ALL MATERIAL HAS BEEN PREPARED BASED ON INFORMATION BELIEVED TO BE ACCURATE AT THE TIME OF PUBLICATION. SUBSEQUENT CHANGES IN CIRCUMSTANCES AND THE MARKET MAY OCCUR AT ANY TIME AND MAY IMPACT THE ACCURACY OF THIS INFORMATION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE PERFORMANCE. Information containing hypothetical or simulated results has limitations and may not represent actual trading. Since the trades presented in simulated backtests have not actually been executed in the market, the results may under or over-compensate for the impact (if any) of certain market factors, such as lack of liquidity, large spreads, slippage, commission costs etc. NO REPRESENTATION IS MADE THAT ANY TRADING STRATEGY WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN IN HYPOTHETICAL BACKTESTING RESULTS. You should carefully consider your objectives, financial situation, needs, psychological and emotional fortitude, and any other relevant personal circumstances when determining whether or not trading is suitable for you. Trading is not for everyone, and for some there are much easier ways to make money from a side-hustle or career more suited to their personality and situation. Trading is exceptionally difficult to succeed at, with a remarkably high failure rate. So please do your own due diligence to protect yourself and your capital from unnecessary losses and damage. Seek advice from a qualified professional (such as a financial advisor) if you feel uncertain about your decision to begin trading. THE RISK OF LOSS IN TRADING SECURITIES IS LIMITED TO THE AMOUNT INVESTED. HOWEVER, THE RISK OF LOSS IN TRADING DERIVATIVES (SUCH AS FUTURES, CFDS, FOREX ETC) MAY NOT BE LIMITED. THIS MEANS YOU MAY LOSE MORE THAN YOUR ACCOUNT BALANCE OR THE AMOUNT REQUIRED TO HOLD AND CONTROL THE PARTICULAR DERIVATIVE, ESPECIALLY WHEN EMPLOYING LEVERAGE. THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINED IN FUTURES, OPTIONS, FOREX AND CONTRACTS FOR DIFFERENCE CAN WORK AGAINST YOU AS WELL AS FOR YOU. IN OTHER WORDS, THE USE OF LEVERAGE IS A TOOL THAT CAN LEAD TO LARGE LOSSES AS WELL AS LARGE GAINS. WHEN USED PROPERLY THIS CAN BE AN ADVANTAGE, BUT WHEN USED IMPROPERLY AND CARELESSLY IT CAN RESULT IN CATASTROPHIC LOSSES - OFTEN RAPIDLY. This brief statement cannot disclose all the risks and other significant aspects of securities and derivatives markets. It also does not cover the many risks inherent in cryptocurrency trading - such as lack of regulation, potential liquidity issues, high volatility and various third-party risks. It is YOUR responsibility to research and decide whether or not to accept the risks involved in the particular market or asset you choose to trade or invest in. IT IS YOUR RESPONSIBILITY TO CONSULT YOUR FINANCIAL ADVISOR TO DETERMINE WHETHER TRADING IN SECURITIES, CRYPTOCURRENCIES OR DERIVITIVES PRODUCTS IS APPROPRIATE FOR YOU IN LIGHT OF YOUR OWN FINANCIAL CIRCUMSTANCES. Good luck with your wealth creation journey, and please take this information seriously. The graveyard of failed traders is large and ever-growing, and that is largely due to these warnings being ignored and the many dangers of trading not being respected.