Today’s Market Action & How to Trade It

Today I take you through the first couple hours of trading and show you two nice trade set-ups that you can learn from for day trading purposes. The market has also broken through the1300 level in the ES S&P 500…let’s see where we go from here. Also, if you’re already long this market (for either a swing or position trade) I show you a good logical place to trail your stop, to either take profits or simply get flat the market.

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The Tale of the Parabolic Tail

Markets are always trying to talk to us and let us know what’s going on, if we can cut through our own personal bias and listen. What we’ve seen over the past few years is the same kind of “finish” to market rallies…the Parabolic Tail. 

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Quick Market Overview & A Great UltraShort Euro ETF

Happy Martin Luther King Day! Since this week will be a shortened trading week I thought I would give you a few thoughts about the market including where I would personally take profits from this run to the upside. I also give you my thoughts on round (.00) and half (.50) numbers when placing stops in the market. I also give you a great UltraShort ETF (EUO) you can use in a retirement account so you can profit from the declining Euro/Usd currency pair.

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20 Rules for Trading Success

In this video I talk about the 20 rules that I truly believe are absolutely essential for trading success. It doesn’t matter if you day trade, swing trade, intermediate term trade or position trade…it doesn’t even matter if you trade futures, forex, stocks, etf’s, commodities, or options – the lessons learned here will absolutely help any trader looking to make consistent profits from the markets. I suggest you write down each one of these important lessons (RULES) that will help you become a better trader.

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Entering Weekly Options positions via Price Ranges

We’ve seen this movie before over the past three years; consolidation/basing action for a few days, followed by a breakout higher. This kind of “stair-stepping” price action is very common and we’ve seen it over and over again when the S&P500 is in a primary uptrend. How can we use this condition to create an […]

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A Bit About ‘Price Action’ & What I Expect to See

Today I talk about what I would expect to see depending on where the market closes today and whether or not the market is able to take out the low of 1281.75. So far the market has matched yesterday’s low of 1281.75. And once again I agree 100% with what Doc had to say on his video about trading being all about probabilities and patiently waiting for the ‘right’ trade set-up. Nobody really knows where the market is going, it’s simply about stacking the odds in your favor and waiting for the right trade set-up.

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Do Pro Traders have a Crystal Ball?

This might surprise some people but most professional traders don’t base their earnings on correctly predicting the future; they earn their profits by applying probabilities in their favor as well as managing their risk. 

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Trading Index ETF’s in a Retirement Account

Not only do I agree 100% with Doc with his analysis of the market, but I also give important support numbers in the market when the market does (at some point) retrace back down. Now these support numbers are only good based on yesterdays high of 1292, and of course if the market makes new highs these numbers have to be re-calculated. I also explain four (4) Index ETF’s that I highly suggest trading in a retirement account. I truly hope this all helps you in your trading.

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SPX – a Fly in the Ointment

The S&P500 broke out to new highs yesterday and should support further gains from here, right? Well, not so fast. Ever been on a family trip where one child is a little tired and cranky? It’ll slow down the whole group, and that’s what we’re seeing with the S&P today.   

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A New Year, a New SPX High

The correlation between the Euro (versus the Dollar, or EUR/USD) and the S&P 500 (SPX), which had been running at close to 0.9 as recently as late November, is breaking down a bit, and is currently at 0.71.  The implication of a 0.9 correlation is that a move higher in the Euro (lower for the […]

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