Day Trading Futures with Failure Patterns Strategy

– Failure Patterns

o Every pattern has a failure

o Look at the speed, read the tape, and use momentum to see clues about who control price, and trade with who has control

o What are the tools I will use to spot these failure patterns:
o 3-signs of a price reversal:
o Pace of tape indicator will show me when the speed slows down
o Momentum indicator shows me the direction of the market participants

o Time and Sales Window, using a filtered time and sales window to make it easier to see the LARGER orders coming into the market.

– Ninja 7.0 is released

o Indicators are in the download section
o Chart templates, workspaces, and more coming by the end of this week
o Should work better with Win 7, and Win XP
o Make sure you attend next week’s training for more info on NT 7.0

– The auto Trader Beta

o Has been released and posted in the advanced course
o We will convert this to NT 7.0 when I see the new software is working well.

– Will contract expiration be a more challenging time to trade?

o When markets expire and roll forward it will always be a challenging time when the volume is split between the 2 contract months

– How do I know which front month to trade?

o The month with the most volume

o Open your market analyzer and check the volume on the current, previous, and the next front month to see which has most volume.