Archive
Monthly Archives: July 2010
July 22, 2010
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Auto Levels Technical Indicator locates important levels of support and resistance for day traders
Auto-Levels Indicator Hi guys, As you’ve heard me say before, technical indicators are vital if they save us time and limit our mistakes. We don’t get too excited about fancy signals and hard-to-read indicators, so we remain very selective for what we allow to take up valuable real estate on our charts. One of the […]
Continue reading July 21, 2010
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95 Ticks Selling the Highs on Crude Oil & Russell E-mini Futures
We had a challenging day in the trade room today, but we followed our rules and waited for the summertime markets to get in a position for us to take our high percentage trade patterns. We saw sideways markets today, and in today’s video we go over what to look for so you know how […]
Continue reading July 21, 2010
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Double-Tops & Double-Bottoms make trading easy; Dollar Index Futures Correlation; Live Euro Futures Day Trade
One of the most important things to being a day trader is to be aware of your surroundings. It only takes a few minutes for a trade pattern to trigger, so we must be aware above and below us at all times. I have found that most day traders use double-tops and bottoms incorrectly, and […]
Continue reading July 21, 2010
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We are seeing some challenging price action today on our favorite markets
Gold Futures: Gold futures are trading inside the transitional area we call the ‘trigger zone’. Above this zone the buyers are in control, and below the zone, the sellers are in control Most importantly, we expect the zone to be filled from one extreme to the next. If we break above the zone, look for […]
Continue reading July 21, 2010
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E-Mini Nasdaq Futures Contract Specifications; tick value, margin requirements, round term commissions
Symbol: NQ (CME) Tick Value: .25 Cost/Tick: $5.00 usd Margin: $500 usd/contract Benefits: low cost per tick Drawbacks: low cost per tick, not a very efficient way of earning income, low volume Best Time to Trade: 9:30 – 1230pm & 3:30 – 4pm EST Favorite Pattern: Failures, Strength, Traps & Pullbacks The nasdaq market is […]
Continue reading July 21, 2010
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E-Mini DOW Futures Contract Specifications; tick value, margin requirements, round term commissions
Symbol: YM (CME) Tick Value: 1.00 Cost/Tick: $5.00 usd Margin: $500 usd/contract Benefits: low cost per tick Drawbacks: low cost per tick, not a very efficient way of earning income Best Time to Trade: 9:30 – 1230pm & 3:30 – 4pm EST Favorite Pattern: Failures, Strength, Traps & Pullbacks The mini dow, or the YM […]
Continue reading July 21, 2010
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E-mini ES Futures Contract Specifications; tick value, margin requirements, round term commissions
Symbol: ES (CME) Tick Value: .25 Cost/Tick: $12.50 usd Margin: $500 usd/contract Benefits: Lots of liquidity, predictable patterns for position traders Drawbacks: lots of volume, slow and sluggish, lots of “backfill” Best Time to Trade: 930am – 1230am EST Favorite Pattern: Failures, Strength, Traps & Pullbacks Favorite Timeframes: 2000-tick, 6500-volume, 5-minute The E-mini ES is […]
Continue reading July 21, 2010
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Dollar Index Futures Contract Specifications; tick value, margin requirements, round term commissions
Symbol: DX (ICE) Tick Value: .01 Cost/Tick: $5.00 usd Margin: $500 usd/contract Benefits: excellent correlation for determining market sentiment Drawbacks: very low volume, not trading this market Favorite Pattern: Euro Correlation Favorite Timeframes: 13-Range for Day Trading, 21 & 34-Range for Swing Trading The dollar has low volume, so we don’t trade it; we use […]
Continue reading July 21, 2010
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Russell mini Futures Contract Specifications; tick value, margin requirements, round term commissions
Symbol: TF (ICE) Tick Value: .10 Cost/Tick: $10.00 usd Margin: $500 usd/contract Benefits: a scalpers market, predictable patterns & good volume Drawbacks: goes sideways with the ES, low volume means tough entry confirmation Best Time to Trade: 930 – 1230pm & 3:30pm – 400pm EST Favorite Pattern: Failures, Strength, Traps & Pullbacks The Russell is known […]
Continue reading July 21, 2010
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Aussie Futures Contract Specifications; tick value, margin requirements, round term commissions
Symbol: 6A (CME) Tick Value: .0001 Cost/Tick: $10.00 usd Margin: $500 usd/contract Benefits: great moves, not too much volume, overnight trading in US time zones Drawbacks: can be low volume during US session open Best Time to Trade: 3:00am – 1230pm Favorite Pattern: Euro Correlation, reversal on 21-range chart at HOD/LOD Favorite Timeframes: 13-Range for […]
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