Emini Day Trading

Another advantageous session for E-mini day-traders
Tuesday morning began with strength after the index futures sold off in response to European weakness in premarket trade. Downside gaps filled quickly, but the market had been down even further in early trade, leaving the indices at resistance fairly …
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In recent articles I have been focusing on charts and current methodology for displaying market data on your e-mini trading chart.  The vast majority of traders seem to focus their charting exposition on time-based trading bars.  It seems to me that e-mini traders use time based charting techniques simply because they are popular, but it behooves a trader to explore other important and valid charting techniques that have some specific advantages in interpreting market data.

This article will focus on range e-mini charting techniques and some of the advantages of range bars.  More specifically, range bars are based solely upon market price; time and volume are of no consideration in this methodology.  Quite simply, range bars use only market pricing to display price action data.  It is the trader’s responsibility to determine the specific range of each bar to be displayed.  For our purposes we will be examining range bars relative to the ES and YM e-mini contracts.

Let’s take a short moment and review the history of range charting.  Nicolellis Range Bars were developed in 1995 by a Brazilian trader named Vincente M.

Nicolellis.  According to several sources I have come across in my research Nicolellis was searching for a methodology to deal with the volatility and variability of Brazilian market.  He deduced that the most effective methodology for effectively trading the Brazilian market at that time was to control
Price inputs, and ignore variables like time, volume, and concentrate solely on price movement.

The Average True Range can be used to determine a specific bar range to assign to the range bar chart.  In my personal trading I generally find myself trading 4, 6, and 8 period range bars.  There are a wide number of reasons for implementing range bars in your e-mini trading.  In no particular order, here are some commonalities intrinsic to range charts:

• All bars on a range bar chart are the same height because the range is a constant.
• The close of a bar is, by definition, always at the prior low or high of the preceding bar.
• The elapsed time covered by each bar is variable, since time is irrelevant in the formation of range bars.
• All gaps in the range bar formations are filled then with an artificial artifice called “Phantom bars.” 

So why in the world would anybody want to use this strange charting configuration?

My experience with Range bars has shown me that this charting methodology is especially effective in trading and clarifying price movement.  For example, on a time-based chart, periods of consolidation of appear as long, winding, and meandering periods that may stretch anywhere from 30 minutes to several hours.  On the other hand, a range start will generally portray this tightly range bound pricing formation is one or two bars, depending upon the configuration you chose to portray as your base range bar range.  In short, variables such as trend lines, trend channels, and the Bollinger bands are brought into sharper focus in seeing more coherent in structure.

It is important to realize that the data used to construct time based charts, a volume based charts (tick charts), and price based charts (range bars) is identical.  The only difference in the charts is the formulation of how to display the data.  Learning which methodology best serves your trading needs is highly personal nature, a matter of personal preference.  In my experience, I have found a time and place to utilize all three charting techniques.  It is my opinion that once you have developed a solid understanding of the manner in which the price action data is displayed on your chart will vary according to differing market conditions.  Of course, it is important each Seder have a solid understanding of the strengths and weaknesses present in all three charting methodologies.

In summary, we have looked at price based charting techniques called range bars.  We have spent a good amount of time contrasting price based trading bars against both time based and volume based charting techniques.  Hopefully, this introductory article will pique your interest in learning more about all three charting techniques and when to best utilize each technique to your advantage.  My final suggestion is to spend some time in simulation mode and develop specific methodologies to trade each of the charting techniques; further, it would be useful to look at a specific piece of price action and compare the charting results in all three charting modes we have discussed.  Best of luck, and I hope that this short introduction will build awareness for range based charting techniques.

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A few years ago my brother, Lester, quit his job as an assistant vice principal of our local high school to become a day trader. I truly believed he had lost his mind at the time or maybe it was a mid-life crisis. He was married with two teenage children and a wife who also worked. But Lester explained to me that he could make more money as a day trader than he could ever make in the school system. I told him I thought his decision was risky, selfish, and stupid. This wasn’t what he wanted to hear. But he still went ahead with his plan to get involved with stock day trading.

Even though I didn’t agree with his decision, I have to admit that Lester really knew his stuff. He’d been reading the Wall Street Journal, the Economist and Barons for years before he decided to get his feet wet. When he finally got a trading account with a local broker, he cleaned up.

His portfolio nearly doubled in his first three years of trading alone. He liked to brag about the fact that he made more money on his investments than he did from his school salary. But he also hated the high commission costs that his broker charged him, and he didn’t think his broker knew what he was talking about when it came to managing a portfolio. Shortly thereafter, Lester decided to take up stock day trading full time.

Though it was stressful and extremely risky, Lester told me he loved the flexibility stock day trading afforded him. Since the market doesn’t open until 9:30 in the morning, Lester was able to spend more time with his kids. He even made them breakfast and drove them to school. In his first few months of stock day trading Lester made more than I do in a year. When I asked him what his trick was, he just smiled and said he was just that good.

He had already acquired the Wall Street broker’s unctuous arrogance.

I later discovered that Lester’s stock day trading strategy was simple-he only traded one stock all day. And because he could devote all of his energy and attention to watching this one stock, he got an edge. After a while of stock day trading this one stock, Lester began to see patterns in how the stock would trade. This allowed him to make little profits several times a day. I asked Lester to teach me this strategy, but he smugly replied, “You either have it or you don’t.” I love the guy, but sometimes I really can’t stand him.

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How To Trade Futures Options

It is true that quite a reasonable number of people have gained trading benefits from trading in futures market. With a good capital futures is one of the best trading vehicles there is and is not as complicated as vehicles like options. Although you must bear in mind, that just like every other trading vehicle out there, there is a substantial risk of loss which is why you must do it right if at all you want to do it.

But after all said and done futures trading can only be as risky as you want it to be…meaning that you must employ strict money management, strategies and avoid exposing yourself too much by choosing your trading times wisely.

So first a quick definition of futures; Futures can be defined as standardised contracts which involves the purchase of stock at a specified sum and transferable within a certain time frame in the future. There is always a seller and a buyer, in this case you could be the buyer who is now under obligation to pay for the asset traded and the seller is under an obligation as well.

Individuals essentially profit from futures by carrying out speculations in a bid to offer liquidity and to presume risks for price movements in the market. These precious functions give them substantial income and potentially large profits How To Trade Futures Options

Why Trade Futures?

Many prefer trading futures to conventional stock trading because you can actually trade long or short. This means you can buy futures a contract and sell a futures contract as well, the difference being that you do not have to buy to sell; rather you can simply sell a futures contract of a commodity or stock when you believe the market is on the decline.

Traders find this method of trading attractive because they can benefit from the market irrespective of the direction it is trading. The futures trader does not necessarily need to take delivery of the commodity he has purchased (in the case of commodities) but rather can even his position before the contract ends and thereby receives a profit or loss of the difference from the time of purchase to the time he sold it. In this case the trader is only speculating on the price difference and does not need to have a truck load of the commodity dropped in from yard.

The same concept applies to selling a futures contract…that is if you sell a futures contract of a commodity for instance like rice you are obliged to supply rice if you do not close out your position before the contract maturity. But if you close out before the contract maturity you are take the profit or loss depending on how the market traded. How To Trade Futures Options

CHICAGO (AP) Futures trading on the Chicago Board of Trade…
AP Close CHICAGO (AP) Futures trading on the Chicago Board of Trade Mon.: .. Open High Low Settle Chg In addition, all posts are logged and tracked in our database system including the IP Address and source computer details of the individual who …
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APS cheating scandal: Limiting futures and careers
Confronted with that information about its newly hired superintendent, the DeSoto school board put Augustine on leave after one day on the job and then rescinded her contract. Now, the DeSoto school board said in a statement, “Given the circumstances, …
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www.easyeminitrade.com Set ups from 8-17-2011 I trade using a high probability set up to day trade that anyone can easily learn. They are used on the ES, NQ, TF (Russell) eminis and 6e (Euro Future) but you are use them on any instrument with success. I use standard indicators that everyone have available in their current charting software which means no expensive proprietary indicators to purchase, just use what you have got!
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