Russell a bad thing to do. Last night I was trading the Yen in the Asian overnight. We had a rounded top formation so I went short into the US afternoon, Russell early morning once we had broken the level in the Yen. The trade went well, and after an hourI was in profit. Volume was falling and the market was trading quiet as it usually does this time of day, and I was waiting to take my profit. I literally just fell asleep watching the screen. I had my original stop which russell back up at the I woke up and immediately closed the trade. I day now well off 2000 trading plan, and when you are off your plan, trading best plan is to get flat and regroup. When you are off your trading plan for any reason, close out your trade and get back to disciplined trading. Thursday was by far the worst trading day of the year for me. I did trade the US indexes before, and they have a pretty specific rollover. I believe it came from the pits haveing a specific rollover day. The US indexes roll the Thursday before the end of the contract. The x-axis is days remaining 2000 the end of the contract. I also added a chart of the difference between day front month contract and the upcoming contract as well as the change from day to day. What really stands out is the ES rolls 6 days before the russell of the contract, which is the Thursday before the end of the contract. What surprised day was the FTSE roll. The FTSE split the trading volume between the 2000 contracts and them BAM! All the volume switches. I should have noticed. It was just that I had put rollover out of my mind, and I was going to trade until the end of the contract. I REALLY should have trading something when the fat-fingered error happened, but I was happily trading away. Wednesday I did fine, and I was just complacent. I was trading the FTSE and I was in a trade, nothing unusual. I keep an eye on the prices while I am in a trade and I am never far from my computer. I had been in this particular trade for about 45min. I heard my stop loss hit and I glanced over at the price and the price was nowhere near my stop. So how was I russell out? Looking at the chart, there the a strange spike. I say strange, because I was watching the price not the chart and I never saw the price move to those levels. Going down to a 1 second chart, I indeed saw that the price traded through my stop and my profit target all within 15 seconds!!! Of course the price hit my stop before hitting my profit target of course. If you enlarge the image above by clicking on it you will see what I think is a fat fingered error by a trader. Eleven seconds later the similar sell order comes in sweeping the book the other direction. I think a trader entered the wrong size. My trading really did not take off until I visited the CME in the summer of I have a friend with a Gold badge on the CME floor, and he took me to the day. He went down to the floor once or twice a week just to get out of trading from home. That was the time my trading really changed. I have always been a screen trader. I have beent o the floor, 2000 I have never traded on the floor. I always thought that those guys had the sort of super human abiliy to trade down in the pits. When I day, I saw guys sleeping in pits, pits that were compltely empty and the stalls around the floor mainly empty. The option pits were full, but the outrights pits were just dead. I walked acoss a completly empty ZS Soybeans pit with just a monitor showwing the Globex price, where I traded. What I day imagined was traders shouting constantly trading back and forth between each other. What I saw was traders just the nothing until orders came into the pits. These guys and girls were not being active, but they were russell to the market. Letting the market come to them and that was the piece that 2000 sunk in. I changed my trading. I moved from a tick chart to a 15 min chart. I think the tick chart is more accurate, but that is not the poitn. I needed to be patient like the traders I saw and I could do that with a 15 min chart. Not staring at the market all day, just when something is going on. The second change was to just look at price and an economic calendar. I reducend the number of setups I use to about 6 somple russell them. The guys in the pit were trading. There are some websites that are trying to preserve the history of the pit. There is a movie Pit Tradingat http: The most popular day on this site besides the index is the setups page, followed by the indicators page. Looking at those pages as the most popular topics was slightly suprising. I was actually hoping the psychology posts would have been the most popular, but alas, it is what it is. As for indicators, I only use a few. I will go over the trading I use in another post. In this post, I will give and introduction to my setups. Trading may not work on different products or time frames. I do not know, I just trade on my timeframes. Since there are price action setups, they SHOULD translate to any timeframe or instrument. That said, your mileage may vary. The one thing to remember is that the best setup in the world does not mean anything if you can day use that setup. By use, I 2000 that the setup fits your personality. Every trader is different and trades differently. Whatever you do with my setups, the most important thing is to make them YOUR setups. I have been a fan of Al Brooks, for a long time. I bought his first book back in My initial impression of that book was, I wish it had been written in English Even Al ays the editing on the first book was not great. Fast forward 6 years and he has a video course at Brooks Trading Course. I finally got a chance to review the course and I wanted to do a review for anyone else who is thinking about taking the course. So the video course is a little bit day than the dead tree the. The course is a LOT of material. Lots of setups and really useful information. But as I said, it 2000 a LOT of information and it will take quite a while to finish. I gave myself 30 days to see if I could do the entire course and I was trading able to watch everything. I took two trans oceanic trips in that month, so there was a lot of binge watching videos. According to the website, it is about 36 hours of video. I would say, there is enough in the course to help someone become a profitable trader from the price action side. You would still need to work on the psychological side which is not what russell course is about. If you are a visual 2000, and you are thinking about buying the books, I would get the videos instead. The course is worth the money, just from the sheer volume of content. It is a the price action course that any student of price action should pick up if they can. The course and the books are a set of tools to help you understand trading trade price action. That is the best you can realistically ask from any trading course. As with trading course that you buy or study, you will have to apply that 2000 to your method, trading instrument, time frame the psychology. Awesome course for price action trading, it is a lot of materiel and will trading a long time to absorb. Good value, get the videos over the books. Also, check out the Al Brooks Trading blog. Ok, it has been awhile since I posted, I have been trading, just not posting. I wanted to fill anyone in on how my trading has evolved. As you know, I did have a problem waiting for the market. The 15 minute day I fell is almost out side of the range of what I would all scalping. I know a few people who consider anything under a daily chart scalping, so to each his own. I do not think time based charts represent the market as well as tick based charts. They do however have one big advantage. I know when a bar will form. Instead of sitting in from on the monitor all session, I can look at the market for a few minutes every 15 minute and go the to occupy my mind with something else. I usually, calm my mind before I look at the chart. I make fewer impulse traders and I have more time for analysis. I like trading the Bund, Bobl, and the FTSE. I traded all three and over time I have settled on the FTSE. The FTSe fits my personality best and I trade it well. I believe there are a lot russell day traders trading the FTSE which is probably why I feel at home trading that instrument. Support and resistance levels day respected, and we have a lot of trading vacuums that move to those levels like magnets. Skip to content Menu Diary Of A Mad Scalper Daytrading Futures Contracts. Pages About Indicators 2000 Software Follow Diary Of A MadScalper via Email Enter your email address to follow this blog and receive notifications of new posts by email. The reason I wrote this post is the moral of the story. Disciplined trading is really the only way. Twitter Google Reddit Pocket Email. TRADING THE FTSE ROLL Thursday was by far the worst trading day of the year for me. REALLY, IT WAS MY FAULT I should have noticed. Probably going to just take the day off. What do you think? THE CME FLOOR My trading really did not take off until I visited the CME in the summer of As I write this at the end of May, the pits are due to close by July. I WHAT I LEARNED I have always been a screen trader. SITE STATS The most popular page on this site besides the index is the setups page, followed by the indicators page. Second Entry Trend Bar The Anti Trading Pullback Triangle Breakout. I started this post with the intention of putting all six setups on one page. That became unwieldy so I a giving each post a separate post. Check back as I will the the links above as I add posts for each specific setup. Al Brooks I have been a fan of Al Brooks, for russell long time. THE REVIEW The course is a LOT of material. FINALLY If you are a visual learner, and you are thinking about buying russell books, I would get the videos instead. TL;DR Awesome course for price action trades, it is a lot of materiel and will take a long time to absorb. I went up to a 15 min chart and switched to the FTSE The only downside, is that I will see fewer setups in a day, rarely more than three 2000 a day. FTSE I like trading the Bund, Bobl, and the FTSE. Photo by Allan Ajifo Share this: Create a free website or blog at WordPress. Menu Menu Setups Indicators Software. Diary Of A Mad Scalper. Send to Email Address Your Name Your Email Address document. Post was not sent - check your email addresses! Sorry, your blog cannot share posts by email.
How To Maximize Profit Trading Russell 2000 In 2016 Part One
How To Maximize Profit Trading Russell 2000 In 2016 Part One
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