day trading strategies for professional futures traders

Our morning trading strategy begins with the dollar index, we use a faster timeframe for indra-day trading and we look for the short term trend and major turning points on the dollar index 13-range chart.  We can see the longer term trend is down, almost sideways, with the short term trend non-existant, with a flat trigger line, lower highs and higher lows, this looks sloppy around the open from 12am EST.

The lack of trend tells me to expect sloppy, trend-less markets that we trade most, and the inside day gives me a big clue for possible trading opportunties on the markets I trade.  With no trend and inside the range from Monday we can assume that fading the breakouts will be the best trading strategy for right now, until something changes.  Im selling as price rises into resistance, and buying as price falls into support.

The Euro Currency Futures are giving us an easy day trading strategy with a bullish price channel, inside day, and a bullish price wedge.  The plan is to buy the channel and wedge lows as support, assumed to be the highest percentage trade because of the bull price channel.  As price falls we wait to buy the lows.  If price rises we need to sell these highs and we wont get a clean spot to buy until we can buy a pullback above 1.3254.

Euro Day Trading Strategy

Our day trading strategy gets more refined as we move to faster timeframes, and the 34-range chart is perfect for using the big picture but giving us the specific entry locations.  We can see a new double-bottom which provides excellent resistance overhead where we can look to sell, and the bull channel and trigger zone are still excellent opportunities for locations to buy.

Our final stop for our day trading strategy on euro is the 21 range chart which defines the exact price wedge, shows us the exact plan of attack at the exact locations we’re planning to use.  Now the hardest part is waiting for the price to come to us.

Crude Oil futures day trading strategy begins with the slower 89-range chart becuase it shows me the most important levels of support and resistance and allows me to plan my attack for the best general areas to trade.  I will use a much faster timeframe for the specific entry locations.  We see the price wedge, so sell the highs and buy the lows of the wedge.  We had a tremendous opportunity on Monday do to that and we made some great profit, now we want to repeat that again today.  One major thing to focus on is if we drop below the PHOD the sellers will try to push price down to wedge lows so we want to sell with price below the PHOD as the buyers have failed. 

Crude Oil Day Trading Strategy

The 55-Range chart on crude oil really helps us out to find additional support at 99.30 so keep this in mind when we look to sell below PHOD.  We need to use this 99.30 as a profit target, or if we cant get in early enough we have to wait to sell with entry below this support.

Our day trading strategy for crude oil is well defined with the 34 range chart.  We want to sell the highs of this range after we took our first trade of the morning buying it up to the highs.

The Mini-Russell Futures are one of our favorite markets to trade, and we can start our day trading strategy with the major timeframe 55-range chart.    We still have the same bull price channel, the same double top support below us, and the same strategy for trading today as we had on monday.  As price falls i want to buy the channel lows and the support levels below the channel lows.  If price rises I will buy a pullback above the PHOD and if the buyers fail above the PHOD and we go below the PHOD again we look to sell with the failure.

Mini Russel Day Trading Strategy

The Russell day trading strategy is further-refined with the use of our 34 range chart.  You can see the buying opportunities at the channel lows and the support levels below us.  Looking to buy at this support as price falls.