Sept 30th Market update

Sept 30th , 2010

Today the ES hit one of our upper targets that we have been waiting for for 3-4 days. After we gapped up and hit that level the market fell back into the contraction not showing any strength the rest of the day relative to the move down.

Until this level is confirmed the market could be choppy the next few days with pressure to the downside. It is important to know we are still in a up trend but we are getting to the point where the last high has odds now of being more of a substantial high.

Also we cover the 3 min TF and ES in this video.

Happy Trading,

www.eMiniSchool.com

9/29/2010 Live Trades

9/29/2010

Thank you to the people that took the time out to attend the Ninja Webinar. We were rushed for time near the end when everyone was asking questions and we did not answer one question that said to show our trades for today. So we wanted to take a minute to answer the question so all questions were answered.

The TF basically had a contraction in the morning then the contraction turned into a wedge and then we had yellow bars telling us that the contraction could turn into a expansion. Our bigger outlook was up from last our member video last night so the yellow bars have higher odds of starting a move to the upside plus the last pattern was up even on the 3 minute chart.

From the expansion we got filled at 673.00 (I was a little late on the entry) then we sold 2 at 675.80 and 3 at 675.40. We entered long again at 676.00 and the price spiked to 677.80 and that was the high of the day. We exited the last long at a 3 tick loss for a total of $1150.00 for the day on 5 lots. The rest of the day was pretty much sideways and after the 2nd trade we did not take another trade as our outlook is bigger contraction with a direction of up.

Hope this helps and let us know if there is any more questions that we not answered.

Happy Trading,

www.eMiniSchool.com

9/17/2010 Update

9/17/2010

Being told what you want to hear is something that in trading can be devastating to your success meaning; most people rather be sold on the fact that trading is easy then be told the truth because the truth is something that most people just don’t want to hear.

Over the years we have came to the realization that people will pay more for something that does not work if it looks easier to use. This is where companies make arrows on the chart and it looks so easy like anyone can do it. The truth is most of those system re-plot the arrows and those system have no way of knowing if the trade is counter trend or not.

Let’s look at a few reasons why most of the “can’t lose” systems actually fail:

1. The market is never in the same condition so one day the system might work and the other days it will not. Not only will it not work you will most likely lose much more than you make when it wins.

2. You must take every trade no matter what and this is unrealistic for most people. (human emotions are too strong like it or not)

3. Most of the systems do not take into consideration the range of the market so when the range is small it will still have signals and actually overtrade and you will have more losses.

4. They do not take into consideration the bigger pattern which will give you support and resistance meaning; it will still say go long right at the top of the 3 minute pattern at the bigger resistance.

The other thing that most people that want to trade is that they might think to themselves that they will start learning when they start trading. This is not a good approach on so many levels but the main thing is that trading takes time to learn and starting to learn and trade for monthly income at the same time will put too much pressure on you to make it work. The best thing is to start learning now no matter when you think you will have the time or money to really start to trade full or even part time. We have found the people who do the best are the people who take it slow and actually master each step before putting the pressure to make money tomorrow. I don’t know about you but I want to make money for the long run with my trading not just make a few points next week.

The point of this article is that we understand there are many companies selling the dream of trading and yes it is a great career to have but that does not mean it is easy. You do not have to be college educated or even be all that smart to learn how to trade and make money. What you need is the education and then after you learn the education you apply tools to give you odds.

You do not need to learn every Wall Street word or live in a big city to be a successful trader. All of those things are hype they mean nothing when it comes to you and you’re trading. It is not who you know or how much money you have, it is you understanding when and where to buy and sell.

Instead of searching for something that will give you a 1 point stop maybe it is time to learn how to see a 10 or 20 point move coming. Maybe it is the approach or mindset you might have that is really holding you back. Why search for something with a 1 point stop to make 1 point, isn’t that limiting your overall market knowledge and the actual opportunity?

If you learn how to see a 20 or even a 100 point move coming wouldn’t that help you in trading for the smaller 2-4 point moves? Yes it would give you the confidence that you would only take the trades in the bigger trend direction. Is it harder to learn how to see a 20 point move over a 4 point move? No! Even though it is a bigger move it is the same exact thing just looking at the bigger pattern.

Trading is not a hobby it is a job even if you are just in the learning stage. Even though it is easy to get consumed with the market and try to master every aspect of trading it is not necessary. In our experience if most people put in the same amount of time to really learn the markets rather than searching for the magic system you would probably be most of the way there.

It is time to get the education and answers so you can get to the next level. It does not matter if you are actively trading right now or not. If you feel as though you want to be a trader at some point in your life it is time to get involved and join a team that does daily education so when you are ready to trade you have the knowledge and the tools to make it happen!

Happy Trading,

www.eMiniSchool.com

Important level coming up on NQ 1967.00

9/16/2010

Two things in this post:

1. Today was a good example of a false blue bar break down. Notice how we got blue bars at the low and then that low was taken out. Unless the market makes a certain pattern off that low we are not looking to short going into that low (after the blue bar low) or to short as it breaks that low. The odds are that even if it breaks lower it will then find support very soon and reverse back up and that is what happened today.

2. The NQ is coming into a very important level. The NQ is up 11.25 points after hours. We are watching the 1967 level very closely as that could be a very important level for resistance.

Happy Trading,

www.eMiniSchool.com

Nailed the low!

9/15/2010

The last few updated we were saying that the TF could go to the 660.00 level. Last night we told our members we could come down into bigger support and still go up into the 660.00 target. The TF had a high today of 652.00 or 8 points away from our target.

The ES target is 1125 which is only 5 points away.

The point is tomorrow could be a reversal day to the medium trend which means we could go up hit the targets and then roll back over. Or we could go down and if support holds then go up and complete the targets. We are at a area where a decision could be made tomorrow.

We do have higher targets but those are on the daily chart so for now we are trading the medium and short term charts and looking for the closer targets.

Today's low was right at bigger support within a few ticks on the TF and we had blue bars to tell us the move down was most likely over. The color of our bars are a tool just like the patterns and the different time frames we use to trade. There is no magic and we are not selling the "perfect thing", there is no such thing but we have tools built specifically for the patterns we trade.

Happy Trading,

www.eMiniSchool.com

Chart update

9/14/2010

From the last email update we noted that if the TF took out the 640.00 high that the TF could see the 640 area. The TF did find support from the pattern and broke the 640.00 high and we made a high today of 653.

The last few days were choppy with the TF being in a 8-9 point range. The blue bars have done a good job of catching the highs and lows inside of the range.

Even if the TF pulls back some tomorrow we still could see the 660 level hit in the next few days. Note that because we came close to the target if the TF starts to fall with volume here the TF could see the 610.00 level. We will have to wait and see what the chart looks like tomorrow for that outlook.

Happy Trading,

www.eMiniSchool.com

Blue bars again!

9/10/2010

Today's chart looks very similar to yesterday's chart in the fact we had yellow bars starting a move down and the blue bars caught the low of the day.

The overall market brushed off a important sell zone today. We will have to wait for Monday but there is support here and we could see the TF making a move to the 660 level if we break the 641 level. We are in a wedge right here on the 60 minute chart so we would watch for a spike if Monday the price stays above the 626 level.

Happy Trading,

www.eMiniSchool.com

Yellow and Blue Bars

9/9/2010

Today we gapped up and hit the continuous outlook pattern. After the high we came down and made a wedge and the yellow bars told us a big move was coming. We broke down out of the wedge then the blue bars came in at the low to say that the big move was over and to look to cover all shorts.

Going into tomorrow there is bigger resistance from todays high. We would be careful on the longs tomorrow.

Happy Trading,

www.eMiniSchool.com

Blue Bar High!

9/3/2010

Today the TF hit our upper target at 639.00. Also today the TF gapped up on the open but notice how the blue bars told us that the move up was most likely over on the 3 minute and to look for a correction. This is a great tool in real-time to know to continue to trade long or to step back and wait because the market is most likely at a short term top.

The blue bars are relative to the time frame meaning; a 3 minute blue bar high could be the high for the next 2-5 hours a 10 minute blue bar high could be the high for 1-2 days and a 60 minute blue bar high could be the high for 2-3 weeks.

Because we are day trading we want bigger, medium and short term odds. With day trading you can be right on the direction and still lose money if your timing is off even by 1-2 minutes. This is why it is important to have tools to give you odds in real time.

Have a great weekend,

www.eMiniSchool.com

Very Nice Long

9/2/2010

Today the TF had a very nice long signal. The TF opened up and completed yesterday's move up then had a very calculated correction. After the correction we are looking for the next green bar to tell us to enter the trade. Even getting filled at the top of the green bar the risk was 1.5 and the TF rallied 7 points into the close hitting the 631.90 minor wave target.

Even if you are a scalper it is very important to know to calculate the waves on the minute charts so you know your are scalping in the right direction. We know that most traders are only looking at small scalper charts but doing this you have more risk of trading against the trend and this will kill most traders confidence because only looking at the small time frame you are actually trading 75% counter trend and this is very risky.

Once the long signal fired off the bars stayed green all the way up for added confirmation to hold the trade or at least know NOT to go short inside the long signal.

Trading is not only learning what to do it is also learning what not to do. If you can know the direction it will make it easier to focus on the entry and then focus on managing the trade not talking yourself out of holding the trade!

Happy Trading,

www.eMiniSchool.com