Today’s opening price on the E-mini S&P was (1753.50). The lowest price point today was (1754) at 11 a.m. Eastern time. The high today was (1760) at 2:45 p.m. Eastern. The economy is usually strengthened by sales on the housing market, but for four months in a row it has been hard to tell since pending sales have been down. The index level of pending home sales has fallen to 101.6 vs 107.6 in August, for a 5.6 percent decline. In nearly 2-1/2 years this has been the first negative reading of the year-on-year index, which is down 1.2 percent. According to the National Association of Realtors (NAR), the recent government shutdown has pushed government workers and contractors to the sidelines of the housing market. Sales of existing homes had been slightly stronger, but not my much. The NAR says that today’s report points to a no better than a flat trend for final sales through the 4th quarter. This report had little effect on the the market following today’s results.
The opening price on the E-mini S&P was (1742.25) today. There was a high of (1744) that was reached within the first ten minutes of the market opening. The lowest price was (1734.50) at 10:55 p.m. Eastern time today. For the 5th week in a row there has been a increase of domestic production together with falling demand in petroleum, resulting in a 5.2 million barrel increase in oil inventories to 379.8 million barrels. For the second time in weekly records domestic production is at 7.9 million barrels per day while imports are at 7.7 million. These recent increases are due to the surge in domestic production and also seasonal slowing at refineries which are operating at 85.9 percent of capacity. Inventories of gasoline fell 1.8 million barrels in the week while distillate inventories rose 1.5 million.
The video above starts playing in a few seconds (there’s a black screen at first).
DTI hosts a lot of the world’s top trading experts. This video above is one of their Summit Presentations, in which three experts spoke. John Paul was the second in line, and in our opinion, was the best. The use of the slideshow animations really drives home his points about trading price. About five minutes in, he goes over the ABC Pattern – how to split the E-Mini into three distinct sessions based on time. You can accurately predict where price will be headed in future sessions after studying the prior sessions. It also provides a way to tell if the E-Mini is behaving normally (aka it’s tradeable). Another tool in the price action trader’s arsenal is the ATR (Average True Range). With a four bar period set and knowing that an ATR between 2 and 4 is considered good, you can minimize risk (placing stops and profit targets realistically). Another interesting point John makes is where traders place stops. Most of the time, these are at even numbers. Since trading is always first-come, first served, having unusual stops may increase fill chance. Indicators are also discussed in the video. More importantly, John stresses the lagging effect and calculations on when moves are over (you’re always a step behind). Trading price is about being aware – ignore other influences and focusing on one chart, looking for setups as they occur. Trading price may be a bit too intense for some, but really, it’s entirely objective. For long term trading, John also mentioned the “January Effect”, whereby a bullish-ending January also indicators a bullish 2012 close for the E-Mini. If price starts to fall, it may be a great buying opportunity if held until the end of the year.
Day Trade to Win’s John Paul privately teaches his students the art of price action trading. Since many of these lessons occur during peak trading hours (from 9:30 a.m. to 12:00 p.m. US/Eastern time), John occasionally takes a live trade while teaching. Why ignore these opportunities that have a high profit probability? Showing how the method works live helps each student much more than simulated trading. Additionally, students become more confident with each price action method learned.
This video shows John teaching one of his students the Atlas Line software. John enters the trade Long as price has two closings above the plotted line (pink dashes). This entry is marked by the green signal produced when price is at 1266.75. Don’t panic when you see that large stop in place – John uses NinjaTrader’s Chart Trader to drag the stop to a more reasonable position. The three stop strategies (Catastropic, Time-based and Prove-it) are explained in the live training that’s included with purchase. Profit targets are always based on what current market conditions can substantiate, so you’ll also see this gap reduced to a more reasonable level. You can be certain that the rules are always clear and objective – no gray areas like in other day trading systems that keep traders guessing.
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Five consecutive days of ES profits? And then throw in the Euro? Sign us up!
Day Trade to Win’s ATO (At the Open) trading course teaches traders of all experience levels how to consistently profit from the ES’s (E-Mini S&P 500) opening move. Since this type of trading is based on the given day’s price history, the method is inherently accurate. The goal of the ATO is to make two to four points every day before noon. On occasion, the ATO software will produce signals in the afternoon hours, but these signals are far less reliable than those produced earlier in the day.
As you can tell from the video, the software provides an entry price and direction. The PDF course and live training covers the types of stops, orders and management strategies. Just this year, John Paul modified the course slightly to better reflect how the E-Mini trading has changed. Considering the low cost of the course (under $600 last time we checked) and the video proof of at least 5 days of straight profits, grabbing this course is a no-brainer. Throw in the live training session, and traders will surely walk away having learned a powerful e-mini trading strategy.