We’re now well into our 7th year (YEA!) day trading Crude Oil, the E-Mini S&P,
Gold, and the EuroFX, where we shoot for $300 to $400 a day in a LIVE! Trading Room — sometimes more — and (hopefully) help others reach their goals of financial independence and security.
But it took awhile to get here. I started trading stocks in the 1980s and diversified into commodity futures for the first time in 1994. Because of a bad experience with someone who “managed” my account, I started learning everything I could about swing trading.
Then the day trading bug bit and since late-1999, I’ve been a full-time day trader and continuing student of the markets.
I don’t think you ever stop learning since the markets are constantly changing.
And I’m still amazed at how precisely you can often enter these computer-driven markets . . . sometimes to-the-tick!
What can trading do for you? Well, it’s the perfect “job” — either a new career or a steady second income. And that’s sometimes critical in the current economy! You can work the hours (or even days) you choose — and do it from anywhere in the world with reliable broadband Internet. It can quickly build (or re-build) your retirement or your kids’ college savings accounts. It can get you out from under crushing debt. And it’s fun!
You might ask, how did I come to call trades in a LIVE! Trading Room? Well, I was asked by a couple of friends to step-in and host their newborn trading room 7-years ago — only for a few weeks — but I enjoyed it so much when they quit, I kept going, and the rest is history! It’s still hard to believe the LIVE! Trading Room is older than my granddaughter . . .
But I’m glad you found us — and I hope you’ll join in!
Every year during the Summer months we start our Summer Scalps.
Most of the rest of the year we’re focused on bigger trades with larger Profit Targets (see “April Trading . . .” post below) as we day trade mostly the E-Mini S&P (ES) and Crude Oil (CL) and sometimes now the EuroFX and Natural Gas (NG) futures in a LIVE! Trading Room.
During the Summer months of July and August — into the times when most other trading rooms telly you they stop trading — we’re taking our Summer Scalps.
We started just this week . . . after the July 4th holiday. We maybe should have started sooner but I kept waiting on some of the moves into Friday’s Non-Farm Payroll Report.
Anyway, here are a couple of videos I put together of July 7th when we started:
And here are some more recent days:
July 11th: Summer Scalping continued. Markets were definitely in their slow-down mode with little follow-through but we worked-away, battled some trades that had to be scratched, and finally got an Add-On Trade in the EuroFX which, added to nice scalps in Crude Oil (CL) and the E-Mini S&P (ES) gave us the full Daily Profit Target PLUS!
July 12th: We took a full loss in the EuroFX today when it spiked against us. No way to avoid those occassionally. But we still got the full Daily Profit Target in the Morning Session and the Daily Profit Target PLUS in pre-market!
July 13: Here’s one of today’s trades — a 50-tick per contract Crude Oil Report Trade:
Remember, if your results aren’t the same, you can join us tomorrow!
For more information, just check-out the LIVE! Trading Room page.
[EDIT: I’m leaving this up so you can see charts and some comments from a pretty typical month. Not January — which sometimes starts out slowly . . . and not March — which was the best month of 2016 . . . and not June — which had its slow weeks. Trading is a marathon, not a sprint. So you can’t really get a good handle by just looking at a single month. February was OK and May was OK, but wanting to show something, here’s what I posted a couple of months ago.]
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We’re now into April.
It’s hard to believe! This year has flown by so far.
I’ll try to keep more current with what we’re doing in the LIVE! Trading Room by posting some daily Recap Charts here in-between the occasional video.
In April, we welcomed MARK, WAYNE, BHAVIK and TONY to the LIVE! Trading Room where where we day trade some of the most volatile and profitable (and potentially dangerous) futures markets — mostly Crude Oil (CL), the E-Mini S&P (ES) and the EuroFX.
April 1st was Non-Farm Payroll Report Day. I don’t trade that in the LIVE! Trading Room and, instead, reserve the day for One-On-One students and others by special arrangement.
April 4th through 8th was a tough week, with a lot of whippy price action. You can trade that — and I teach you how in One-On-One training — but I usually don’t call those scalps in the LIVE! Trading Room. With such whippy price, it’s easy to get chopped-up with loss after loss. We didn’t suffer that . . . just took longer to make what profits we could scratch out. Here’s what we did:
April 4th: ES was pretty whippy but we didn’t have to worry about that market since we got the Daily Profit Target PLUS from Crude Oil trading alone.
I skipped a sell in ES since it wasn’t as good a set-up as I wanted — but price took out the lows like we thought it would, at least eventually.
April 5: We got the Daily Profit Target plus in the LIVE! Trading Room and were done before 10:30 a.m. Today we traded Crude Oil (CL) both long and short and used a channel in the E-Mini S&P (ES) . . .
On April 6 Crude Oil (CL) was trading in about a 20-tick range and put-in a V-Reversal. As noted on the chart, about 80% of losses in the LIVE! Trading Room happen with V-Reversals. The Daily Profit Target was nailed on Early Trades but during the U.S. Session we gave some of it back. That happens. Nobody can make money 100% of the time! But we look to (mostly) trade with the trend. Sometimes after a retracement but sometimes counter-trend to catch the retracement. And sometimes we take counter-trend trades when a move is ending. It was tough to get much of anything on April 6th after the HFT computers were turned on . . .
April 7 saw a partial Daily Profit Target and at least three missed trades: two I didn’t see until too late — focusing on the E-Mini S&P (ES) and one in the ES that spiked through our entry level and never came back. Still, not a bad problem to have: a profitable morning with three other winners slipping by.
April 8 ended a whippy week with a whippy day — four BE trades. Still a profitable week but a slow start to another month. I guess it’s like golf — when I struggle for par on the first hole, my round usually turns out a lot better than when I birdie #1. I wish I knew why.
April 11th – 15th was a better week. Here’s what we did in the LIVE! Trading Room:
April 11: We nailed the Daily Profit Target PLUS in the LIVE! Trading Room but had to work for it! The markets moved a little better, allowing our day trades a chance to hit their Profit Targets, support and resistance weren’t as solid and unforgiving — but it took an Afternoon Session to overcome the shut-out Morning Session.
There was no trading on April 12th — I had to take my granddaughter to an appointment. I make these missed days back through Add-On Days or a special Afternoon Session, if necessary.
April 13 was an Add-On Day — mostly with small winners. You take what the markets are giving.
On April 14th I was just out-of-sync with the markets and we lost 3-4 small trades and stopped (according to my Rules established years ago — the hard way). We don’t make money every day. Like I’ve said over-and-over: Nobody can. But what you can do is hold your losses down and hold total losses to a point they can be re-captured with a single trade, maybe two.
So April 15th came and we were still nicely profitable for the week — even with a Losing Day on April14th. On April 15 we got the Daily Profit Target in an Early Trade and then battled-away more small-range, whippy price action. I explained the importance of Fridays — and we stopped with another profitable week.
Then April 18th through 22nd came — the best week of the year (so far)!
April 18th was a long day. Since I knew I would miss April 19th, I traded the Morning Session, did rare Lunchtime Scalps, and held a special Afternoon Session. We got the Daily Profit Target PLUS in all three sessions! This is what you can do too day trading these volatile and profitable markets. Imagine finishing One-On-One training and being able to identify and take trades like this almost any day you choose. I only call somewhere around 1/4 to 1/3 of available trades in the LIVE! Trading Room and once you learn how to read price action, you’ll see set-ups frequently. Not all will be for 25-ticks or more. Some will be for 5-ticks (which I don’t call at all in the LIVE! Trading Room), some will be 10-ticks and some 15-20 ticks. Some are designed to catch the extreme(s) and can be held into the close . . . or trailed like I also teach — to squeeze out almost every tick available when you catch the HOD or LOD to within a few ticks. Anyway, here are the three sessions from April 18th:
No trading April 19th, like I mentioned . . .
On April 20th we had another fantastic day! We got an Add-On session with Early Trades, then the Daily Profit Target PLUS again in the U.S. Session. We traded through the release of the Crude Oil Report — which we normally don’t trade in the LIVE! Trading Room — but were already long and so with a 20-tick stop we targeted 50-ticks and 60-ticks and max’d-out the report spike.
But we weren’t finished. During the Top Down Analysis, I told everyone the levels of 2110 and 2090 would hold on the first test and to fade the first for a 10-POINT ($500 per contract) trade in the E-Mini S&P (ES). 2090 got tested first, entry at 2090 took two (2) ticks of heat and gave the full 10-POINTS in about 40-minutes. I stayed with the LIVE! Trading Room until the trade was at +1 (a free trade) . . . and recorded it for posting to my YouTube channel. These bigger day trades are available at least 2-3 days a week on average and are extras for Members of the LIVE! Trading Room. Like I said in the video, this one single trade, trading just one single contract, would pay for almost 2-months of the meager subscription cost all by itself.
April 21st was a tougher morning — with volume and volatility coming back into the markets. We got the Daily Profit Target PLUS again but had to take a partial fill on the second Crude Oil (CL) trade.
On April 22nd we ended the best week of the year (so far) with the Daily Profit Target PLUS — but not without having to work for it. Again, Friday rules were in effect and the markets were a little whippy.
But just like April 20th, we weren’t finished. I gave two key levels of support-and resistance and a longer-term day trade which was filled to-the-tick (entry 1-tick ahead of the S-R Level) and, this time, good for more than 10-POINTS. If exited at the lower S-R Level, you would have collected a sweet 13-POINTS on the trade — with a 2-point Protective Stop!
After such a GREAT month, we would be entitled to take the last week off — maybe fly somewhere on a nice vacation using whatever profits were banked — and enjoy the lifestyle trading offers. But I’ll be back calling trades in the LIVE! Trading Room for those trying to build-up their accounts, or gain the confidence necessary to take counter-trend trades, or beginning their One-On-One training.
Looking back, these kind of results are hard to imagine . . . unless you know how price moves. We take the markets as they are, every day. We take what price action is telling us the markets want to give, one day at a time, one trade at a time, work it with the best entry possible, solid money management, and then move on to the next trade.
You can find out more about the LIVE! Trading Room here.
And, remember, if your results aren’t what you hope for, you can join us tomorrow!
The first quarter of 2016 is in the books and March came in like a lamb and went out like a lion, to flip an old saying.
The Federal Reserve’s F.O.M.C. announcement in January was important but the one in March seemed even more so. Markets have loosened-up and are moving a lot better. So we’re taking advantage of it while we can. I like old sayings: Make hay while the sun shines!
Anyway, I’ve gotten some e-mails asking how we’re doing, if we’re still trading and can you join us in the LIVE! Trading Room?
The answer is YES!
You can find out more about what we do in the LIVE! Trading Room — where we shoot for a reasonable Daily Profit Target, per position, and then stop trading to enjoy the rest of our day.
Just hop on over to the LIVE! Trading Room page.
I’ve already made and uploaded a recap video showing what we did in March and will add some more specific days that give a good example of the kinds of trades we take and, more importantly, how we manage a trade after entry.
And remember, if you’re not seeing the results you want from your trading . . . you can join us tomorrow!
Over the Summer of 2015, we changed our entry and profit-taking techniques in the LIVE! Trading Room.
We focused on fewer and a little less aggressive trades and slightly larger size. That meant we had to trade longer, so we stayed until 11:00-11:30 a.m. (EST) most days. We also had time to discuss more aspects of price action — but not even close to what we cover in One-On-One teaching.
Anyway, we kept that approach even after Labor Day because the markets didn’t yet support more frequent trades. In other words, losing trades were still too hard to recover and more aggressive entries were less reliable.
The markets we focus on in the LIVE! Trading Room — Crude Oil (CL), the E-Mini S&P (ES) and EuroFX (6E) — are some of the most historically volatile and profitable markets. But all markets go through cycles.
I’m a firm believer — and teach — as a professional trader, you take what the market wants to give and not try to force it to act in a certain way. Besides, there are many different ways to profit!
But you always have to re-evaluate your per-trade expectancy. When it’s negative, you either don’t trade or adjust whatever you should to bring it properly positive. Like I said above, we did that by reducing the types of trades we took making a more conservative approach with slightly larger size very profitable.
The last week in September, we transitioned back to the Daily Profit Target approach: Where we take slightly more frequent and potentially aggressive trades, aim for the $300-$400 per position Daily Profit Target and stop trading when it is reached to enjoy the rest of our day. Trading multiple markets, that usually gives us more than the Daily Profit Target.
I’ve already posted videos of the Summer Style, so here are a few screen shots and videos of what we’re doing now:
October 2nd: No LIVE! Trading Room (only One-On-One) — Non-Farm Payroll Report Day.
October 9th: We took a well-deserved day off.
So like the title says . . . a GREAT start to fall trading!
You can be trading with us tomorrow! Just go to the LIVE! Trading Room page and sign-up.
YES! We’re still here and still calling trades in real-time, as they set-up and develop, every morning in the LIVE! Trading Room!
The beginning of June was spotty — until I switched-back to an old Crude Oil approach from several years ago. Then we started doing really well and began to focus mostly on CL with some EuroFX trades. Stock Indexes can be added back (if we need anything added to CL) once they stop whipping so much.
In fact, we’ve been doing SO well day trading Crude Oil in my CRUDE OIL TRADING ROOM that I was asked by a Broker to conduct a Webinar on Crude Oil Day Trading.
July has been on fire!
Anyway, here are some videos from mid-June into July using an old approach from when Crude Oil (CL) was the only market I followed:
June 19, 2015:
June 23, 2015:
June 30, 2015:
July 7, 2015:
For more charts and videos you can check out the MORE: Charts & Videos page.
And you can join us tomorrow! Just go to the LIVE Trading Room page . . .