hello traders its a samurai trade hear welcome to this quick training session
it's Monday the 26 of attend 2015 and I'm short here on the NQ what are we
here 55 tick let me get this right and I'm also short on the ES a 233 tick
chart which will have a look at at a moment so i just want to point out here
was just the the trend line break here i'm virtually you can see / hear it
we're at the low of the day right here and we've really broken that so expect
some follow through so I'm short ten contracts 15 ticks but there's also
something also wish to show you on the ES now we can also see here that we're
right at the low of the day so if we look at the open we are open dumb over
here I haven't taken any of these I just marked up some genuine trades using the
fast tracking setups we can see here that we had a beautiful double bottom
we've got here a bounce off the 200 and what we have here now is 34 bounces so I
got in here I got in a little late now what and one of the compelling reasons i
got on got in you can see here a trendline a horizontal trendline we can
see here that i've got a definite downtrend we've been hitting this bottom
and testing it continually so i was willing to short the market here my stop
is one tick above the pivot line you may notice here so got a fairly wide stop
it's an eight ticks top in this particular case because i really believe in being
above the pivot in this particular case but what i want to point out was it's
really important I believe to draw your support and resistance lines because
we've been really stalling at this point here for probably an hour now but if we
go across e we can see and you can see it on your run trading platform as well
but worth the low of the day so we sort of
testing this low I believe it's going to punch through look at my 34 is in a good
strong downtrend it is on the NASDAQ and the YM as well so I just think it's
going to take some time and we'll see it break down so I'll put this on hold and
we'll come back to this but otherwise you've got a t1 t2 right here you've got
a t1 formation you've got a 34 bounce 34 bounce 34 bouncers are 200 bounce up
here you had a t20 a t20 up there a t20 server trades firing off left right and
center service and great trading opportunities for the part-time trader
so trade is a good half an hour is now past and we're still bouncing around we
can see my target down here my stop is our way up here it's now time to bring
my stop down so where are we now I'm going to bring my stop down just above
that little swing high that we've got here so we can save a little swing high
so we'll come down just above there may be a little more so we'll just sit there
right now so you can see here we've actually had another 34 EMA bounce so
your head of t2 here as well you've got a 34 bounce I expected to follow through
let's have a look at the ES so you can see here the s really bounce back
against me at one stage here we were I think around here when I was doing a
recording we bounced up we've gone up with bounced off the pivot and we're
still hovering it below of the day as i mentioned i expect a punch through more
go down to the excess one so that is nine ticks by the way on 10 contracts so
we'll just have to sit back and wait and now's the time to tighten my stop let's
see we'll just come down above this swing high so we'll sit above there
she's a 750 risk for an 1125 gain so we'll to sit back and wait so traders we
can see here we've come down I've been filled on a number of my contracts we've
come down and touched so I've still got still short seven contracts so what I'm
now going to do is go to break even as I'm not going to be willing to give
anything back because also where I am now it's 4:07pm at 5pm we have the
pre market open in London which we can see some volatility so let me see here
am I going to just look into yes trades bouncing around so worst case scenario
it'll stop me up with a few hundred dollars profit so we'll just hang in
there the es by the way we've still got we're halfway there on the target so
I'll keep you updated actually trade is what I'm going to do I'm going to bring
my target down even lower the reason being I'm getting some divergence
forming here on my platinum and I'm not willing to give too much back today it
is Sunday evening Michael could do anything so if it stops May it stops me
out but at least I get stopped out with a still a half decent profit and my ES
is bounding up so we'll just wait not a whole lot to say looks like we're
bouncing back up there so you'll see this quite often traders where the new
traders may not be aware of is sometimes you go down or you'll be doing your back
testing and you'll see you've touched a target and in your testing you'll assume
you're being fully filled or you're out but quite often in a slow market you'll
come down you might have to test their two or three times but I ever rule that
when I've tested once or twice oh I'll definitely go to break even if not
better and see here I've got a couple of candles
that have come down and tested that spot
okay so this is the ES so the ES I'm still two ticks in the money now three
ticks with that I don't have any divergence on my platinum here at this
stage so I expect we'll roll over that black line as a reminder you can see
there was the low of the day so I might just move that for now we don't need
that any longer but you can just see without a quarter none offer a very very
strong support order field okay so that was my encored it just being filled so
what we can see here is a very good chance will come up and bounce off the
89 now and we can see we've got a t2 for me so what i will do if it sticks down
two or three ticks i'll accept this trade once again just being very mindful
that I've been in this trade for a few hours now and i always say as a day
trader time is not on your side you like to see momentum you like to see price
action move in your direction
so it's traders I brought it up i'm just going to take a couple of ticks profit
on this one on the 10 contracts we can see i pop down below the river build so
you can see my orders filled there we still walked away with a few hundred
dollars net after brokerage that may as i mention this may forming to a t2 which
I expect it will I've been in that trade there for a while a good couple of hours
so i was pretty patient with it but it was time for me to exit and also i'm
just aware of time of day so in a moment I'm going to go through and we're going
to do a recap on the trades of the day what we've had happen in today's market
so traders let me now give a quick recap of today's trade in action so it's
Sunday evening for my colleagues in the USA leading into very early Monday
morning and of course Monday afternoon leading into the London session down
under here in Australia so my prime trading time is of an evening for London
session I love trading the euro stoxx 50 and also the NASDAQ and of course the
ES but the NQ and the euro stoxx 50 of my mount my main markets from about 5
pm. my time and about half an hour to an hour and as you know my target here
is four hundred dollars a day per contract now what we are going to do is
look at the chance to do a quick recap to look at the trades I've taken today I
don't normally fire that many trades off during australia during the in australia
during the day I usually wait for the evening just because of your volume you
get a lot more volume of course it really picks up leading into the New
York session now as always I need to mention risk alert and sorry i'm just
getting another entry alert and low and behold that 233 tick ES ahuh it's turning
into a t2 as i mentioned but i'm still quite happy we've locked in a nice
profit on the ES and the NQ which were about to have a look at
I love what Mark Douglas says here the best traders have developed an edge and
more importantly they trust their edge trade is if you are a new trader joining
me for the first time or if you're an experienced trader keep statistics once
again if you know what your statistics are what your probabilities are just
gives you so much more confidence and it allows you to back yourself so much more
when you do trade and overall it's just a better way of trading but
unfortunately too many people fail to recognize a trading is a business I work
on my business every day I work on myself every day when it comes to
trading here is one of my affirmations but I have in the front of my trading
book where I have all my charts and my trading rules let me read it out before
we move to the charts I believe in think in terms of probabilities and I know
that by taking every trade that qualifies and by following my trading
rules the statistics are on my side I've stopped searching for the Holy Grail I
have discovered it and the Holy Grail is control of my emotions my mantra is
I'm a relaxed disciplined focused professional day trader and I flawlessly
execute my trades so I flawlessly execute my trades according to my rules
now if we now consider some of the rules of today time is not on my side and as a
day trader unless you're set up gives you some reason to be waiting but as a
day trader as a scalper I generally want to be in and out and it's very unusual
I'll let a trade sit there for a couple of hours no today I did it because the
market I know is going to be slow but it also makes me feel uncomfortable because
so many things can happen over a period of time now let's go and have a look at
this is the NQ 55 tick chart so let's just go and have a look at this
morning's action from the time the market open we can see here we had up
here a t20 fell away yet a little bit of
divergence if I remember correctly that may have been a t89 you had a t20
again over here had a t20 lovely pivot bounce with a double top now remember if
you want to increase the chances of a pivot bounce if you've got divergence and
you've got a t1 formation like this okay take everyone write your probabilities
are through the roof on these turning to great trades which is exactly what
happened we can see down here we had then had a t2 it's actually cross
between a t2 and a t10 okay now I was laid in and I didn't get into here and I
jumped in on the break and you can see here that draw my trend line
horizontally you can see I'm in a downtrend with my upper trend line here
and as I believed I believed we would have a break which is exactly what
happened however it was very very slow and it drew out over a period of a few
got a few hours that come down it touched my target of 15 ticks so I was
only filled their on remember correctly looking up with thing here on on three
on three contracts it started to bounce up I decided to lock it in and lo and
behold I will paint field this is Murphy's Law this is live traders this
is live you can see here I would have picked it up however I'm still la 552
dollars up which isn't bad towards this is a 12-percent towards my daily target
and my evenings my main session now here if you look at you rather trades we had
a we had a pivot bounds you also had a t1 you had a t2 you've also got a 34
bounce a 34 bounce and so there's just some great trading opportunities during
the day so let's have a look at the ES chart so here we've got the ES let's go
to the open there what we're looking at here traders is a 233 volume or share
bar chart on tradestation a call it a chair bar or it's a volume chart we can
see once again some great little divergence trades here t20 T2O
T20's t20s a fight and I tend the fine traders they do really well in the
after-hours market your t20s now you've got a classic 200 bounce now this
is where it gets interesting let me explain this we had a t2 set up here
but notice the angulation the way from our 34 and you will right up against
here you're right up there against your 200 and what happens generally look at
this 200 traveling down a bounce you turn into a 200 bounce be very very
cautious in trading about against you 200 like this and then we had a t20 and
then look at these 34 bounces up here you had 34 bounces you up 34 bounces
here and we travel down you can see where i shorted I was in late and I got
out here and I was after nine ticks per contract which is 112 dollars fifty and
you can see here I got out only picking up a couple of ticks we come down picked
up and what did I say about that t2 here it is here it's turned in to that t2 i
said it would turn into and it also is a 34 bounce but you're right around this
pivot and as i mentioned the london pre market opens up into in 29 minutes so
it's an area to be really cautious of but i would have picked up if I'd have
stayed in however I decided to get out because talking about our trading rules
one of my rules is that time is not on my side here I've still locked in a very
healthy profit 12 percent my daily target and these were what i called bonus trades
oh by the way here's your classic 89 bounce and trade is that probably gives
you a good recap but once again it really comes down to now with the day
traders fast-track program you're learning the world's best day trading
strategies then 95% mechanical what's that other five percent will the five
percent is do I have any red flag news things like time is not on your side you
know the day traders for most of us it is
most of us for a day trader consolidation or a choppy market or a
sideways market is what kills you so being able to learn to visually
recognize a choppy market so if one hundred ninety seven dollars you now get
over 20 hours of tuition you get three weekly video updates and I give you full
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Thank You traders and look forward to watching to you watching my next video
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