A Professional Approach to Trading Futures

[AdnanRahman]

Hi Steven46,
While I was studying your analysis and reading chart. I saw that mostly in Asia and London Session price respect the vpoc and vwap level with your 123 reversal very nicely. Is this because of automated algo? Do you prefers these sessions for good trade with nice profit or NYC session?

Thank you
Adnan

 

[steven46]

Hello Adnan

I would like to provide a better answer to your very important question. Although the Asian
and London sessions have less volume, the frequency of setups is about the same, and my
weekend analysis suggests that they percentage that work well are also similar. I do not trade
Asia, however I do sometimes trade London. Most of my trading is the NYC session, which opens
at 6:30am local time. About 70% of the volume traded is automated and that seems to be why
the setups work well (because the computers continue to repeat the same behavior). I continue
to review and monitor the setups that work to make sure that if things change, I am able to
adapt to the changes and continue to make money. So far, all the setups seem to work nicely.

Good Luck Adnan

 

[steven46]

Good Morning from West Coast USA where it is 6:05am and the NY
Session of S&P500 Futures is about to begin

As some readers may remember, I use a weekly template to obtain entries
and exits, for both scalps and longer time frame swing trades. Because I have
not shown the swing trade system outline to readers, I will do that here (Once)
as follows on the attached

As can be seen, the weekly cycle is divided into two (2) parts. Part 1 starts on Monday
and extends to Wednesday. Part 2 starts on Wednesday at the close, extending to Friday
We take trades that form a sequence that professionals call a "peek-a-boo" above and
below the highs and lows. In other words we take the reversals and hold for the long
move back to the other side. For years, this has been a profitable strategy when executed
with discipline.

Typically I take these trades, and then I trade around those positions



Good luck

 

[steven46]

Another Day, another dollar

The attached chart shows the simplified version that I teach
The focus is on teaching struggling traders to identify where
they are going wrong and correct that.

What I found in my previous classes, was as follows

1) Lack of preparation
2) Inability to "align their thinking with institutional intent"
3) No system edge
4) Poor choice of, and undisciplined use of the tools of the trade
5) Unskilled decision making on both ends (Entry & Exit)

The result is inevitable

The Chart cannot show the pre-planning that goes into this process
We assume readers know of our preparation over a weekend to analyze
previous price action and economic news. The chart below shows what
comes next. The skill is to identify the price action on the open, and react
appropriately. We monitor for a specific period of time in order to determine
whether the market is trending or in a trading range. Once we make THAT
decision we enter, at the appropriate time, and designate a profit target and
stop loss. The tools have already been specified. How to use them is part of
the class. Once a student has a feel for this, we look at the decision making
process in detail, especially how to reduce stress, by relying on the system
rules. As with professional sports, success depends on 1) talent first, then on
2) preparation, and finally on 3) "reps" (practice) and by that we mean good
practice, that insures that the student trader is learning the right skills, rather
than developing bad habits.

Readers may remember that we suggest trading within a specific timing window
then getting out with a profit. As with any similar situation (casino gambling comes
to mind) the longer you stay, the more the odds favor that you "give back" what
you have won. Once you've earned it, take your money and go live your life.

Good luck

 

[steven46]

Today's NY session on a 15 min Chart basis

Some may find this easier to trade, as it produces
fewer false signals