Emini Day Trading
- Futures Day Trading
Emini day trading,
currently day trading the
emini russell and the euro currency future, with a focus on teaching-learning
the day trading method concepts for price action-price failure, the
related base method trade setups, along with the interrelationship and impact of trading
psychology.
Tactical Trading is a combination of a trading
chatroom, a member training website, online trading training
sessions, and trading seminars. The Tactical
Trading chat room combines text, voice, and 'real time'
application sharing where I can show my trading charts that are
being traded and discussed. I also highly recommend that
other traders, especially those who are paper trading, also post
their own trades in order that I can try to provide additional
feedback and help with learning the trading method, and making the
transition to real money trading.
If you would like to become part of the Tactical
Trading Group, click
Join Tactical Trading
for registration, or for a 3 day chatroom trial. If you have
any questions or want more information, or even want to talk on
the phone - you can let me know this on the form.
The Tactical Trader Day Trading Journal was developed to be a
daily teaching lesson where I can discuss some charts-trades
from the day, in order to point out various trading setups
and/or trading issues-problems that I am aware. I also like to
use this to specifically answer questions that someone may ask,
where it is more effective to try to answer with a
chart-discussion, than it would be to try to answer by text
only.
To make this most effective, it is recommended that the
charts-questions first be read-answered AND then go to the
discussion page to study what has been written, along with
comparing this to your own answers - don’t simply go to the
discussion page and read what has been written.
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Tactical Trader
Day Trading Journal
Emini Day Trade
Setup Combinations
The emini day trading method has
two basic ways to view a day trading setup: (1) right side
only - referred to as right side base or minimum base (2)
left-right - referred to as selective base, the right side base
setup has become more selective from adding additional setup
components that can be seen from left side price action-price
failure.
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Right Side Base Setup
The red dot on the emini
russell day trading chart is a trading method base setup OR
what is also called right side base - this referring to the
minimum setup components that occur after the initial reverse
of a previous swing.
base setup components:
price - entry pattern - momentum flow
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yellow circle:
initial reverse
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blue line: initial
reverse price
entry pattern: break2 of
the blue line WITH mex flow - meaning that mex flow is still
going down on the retrace up to the yellow square as a lower
high into the trade.
red dot: right side base
sell as a price break2 with mex flow BUT this was not the
whole setup - there were additional setup components that
occurred at the same time that 'allowed' what was the reverse
to the left side direction. |
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Left-Right Selective Base
Setup
A right side base setup becomes
selective base from the additional left side components that
can be combined into the day trade setup; the more components
occurring at the same time, the more selective the setup would
be.
left side price [LSP] - price
momentum divergence [PMD] high start point.
entry is into-through 2 failure
points at the purple squares - which is additionally
significant because this gives a price failure of the purple
line as support.
left side diagonal breakout
potential - the move back into-through the left side swing
preceding the sell.
profit expansion potential - a
price break at the yellow circle is also a triple bottom break
of the 2 yellow squares. |
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Emini Day Trader Performance Evaluation
It is typical for emini day traders to evaluate their
performance-their trades based on whether the trade was a
winning trade or a losing trade - winning trade = good trade -
losing trade = bad trade. Just like it is typical for day
traders to do hindsight study in terms of whether the swing they
are reviewing was a winning or losing trade AND especially look
at the biggest winning trades and take the attitude that they
should have entered the trade where the initial trigger
occurred.
But is this the way to evaluate trading
performance AND is this the way to study charts and/or trades
missed?
Evaluation is a primary reason for this emphasis
on day trade setup-day trade trigger AND base method trade
setups. Instead of evaluating on whether a trade was a winner
or loser [I will suggest that winning on a non-setup trade is
not a 'good' thing], evaluate on whether the trade was a base
setup winner OR base setup loser. Then, in order to progress
with your trading-learning, further evaluate your base setups
with regards to market condition-market type.
What this process is attempting to accomplish:
(1) you only regard defined method base setups as day trades
that 'should' have been done - you only hindsight study
charts-trades that are defined base setups (2) you increase your
trading proficiency of defined base setups - by understanding
them in the context of method concepts. You are not trying to
avoid losing trades, this is something that cannot be done -
there are always going to be 'good' trades that lose. What you
are trying to do though, is eliminate [avoid] losing trades that
are trade setup misreads, or have a method reason not to have
been done - either with the timing that was used, or just simply
not done.
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Day Trading
Setup-Method Evaluation
Trading Psychology - Trader
Performance Issues
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