Edition 824
April 10, 2020
Traders Notebook is now trading in Minis and Micros!
Learn More - Scroll down to Andy Jordan's Article
Master Trader Joe Ross
Author, Trader, Trading Mentor, and Founder of Trading Educators, Inc.
Developer of Instant Income Guaranteed
Chart Scan with Commentary: The Law of Charts
From Mihai Vasiliu in Romania:
Joe, an old student, Laviniu is his name and you met him in Romania back in 2012 when he bought Trading Is A Business from us, came to me the other day showing a chart with the coronavirus infections numbers in Italy and told me: "Look Mihai, Italy’s newly infected is in a bear trend! It made a 1-2-3 High and now we’re on a down slope!"
© by Joe Ross. Re-transmission or reproduction of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc.
Master Trader Joe Ross
Author, Trader, Trading Mentor, and Founder of Trading Educators, Inc.
Developer of Instant Income Guaranteed
Trading Article: Avoid Negative Open Equity
There is an old saying that when day trading positions have had negative open equity most of the day, and an opportunity...read more.
© by Joe Ross. Re-transmission or reproduction of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc.
Philippe Guartier: Administration and
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© by Joe Ross and Philippe Gautier. Re-transmission or reproduction of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc.
Professional Trader Andy Jordan
Educator for Spreads, Options, Swing, Day Trading, and
Editor of Traders Notebook Complete
Traders Notebook is now trading in Minis and Micros!
During times with very high market volatility, it is almost impossible to swing trade the futures markets, using the full futures contracts. Even some minis, like the US Indexes, are usually out of reach for the private trader with swings of sometimes over $10,000 on a single day.
That’s the moment when trading in the Micros makes a lot of sense. With 1/10 of the mini contract, the micros move only between $500 - $1,000 per day (today is 04/06/2020) which is more than enough for swing trading on a daily chart.
Imagine, I am day-trading a rather large account on a rather short time frame and even I had to move to the micros because the risk per contract was too high for me!
Unfortunately, not all markets offer micros. That is why we had to take a long trade in Crude Oil using the mini contract, which is ½ of the full contract.
We went long at 21.600 on 04/02 with an initial stop at 19.850. Our first and second target was hit on the same day after the market exploded to the up-side after Trumps tweet regarding the reduction of the oil production. We managed to exit the complete trade at around 26.500 by using a tight trailing stop.
Don’t get me wrong, even if this was a lucky trade for us, I still hate Trumps tweets because it makes the lives of a trader very difficult.
Of course, we are not getting a trade every day because not all micros and minis are liquid enough. But the ones we are using right now are highly liquid and we usually get really good fills.
If you are into futures trading and you find it hard to navigate in today’s markets, you should have a look at Traders Notebook.
Let Andy Jordan show you how to manage trades!
Visit Traders Notebook Complete
© by Andy Jordan. Re-transmission or reproduction of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc.
Professional Trader Marco Mayer
Educator for Forex, Futures and Systematic Trader
Creator of Ambush Trading Method, Ambush Signals, and Head of AlgoStrats.com
Trading Article: Don't wait too long for "Confirmation"!
A popular concept in the world of trading, especially among technical traders and chartists is to
wait for confirmation before entering a trade.
This means you have a Signal, for example, a price action pattern and now you wait for the markets to confirm that pattern before you enter. The idea, of course, is to filter out...read more.
© by Marco Mayer. Re-transmission or reproduction of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc.
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