Monday, June 29, 2015

Euro and Gold TS TradePlan Chart Review - Monday June 29, 2015

6E TS TradePlan Euro Chart Review - Monday June 29, 2015

6E TS TradePlan Euro Chart Review - Private Client Feed Insights

GC TS TradePlan Gold Chart Review - Monday June 29, 2015
Charts shown with the TS TradePlan Indicator for NinjaTrader

Thursday, June 25, 2015

E-mini S&P-500, E-mini Dow, Euro and Gold TS TradePlan Chart Review - Thursday June 24, 2015

ES TS TradePlan E-mini S&P-500 Chart Review - Thursday June 24, 2015

YM TS TradePlan E-mini Dow Chart Review - Thursday June 24, 2015

6E TS TradePlan Euro Chart Review - Thursday June 24, 2015

GC TS TradePlan Gold Chart Review - Thursday June 24, 2015

Charts shown with the TS TradePlan Indicator for NinjaTrader

Sunday, June 21, 2015

E-mini S&P-500, Euro and Gold TS TradePlan Chart Review - Friday June 19, 2015

ES TS TradePlan E-mini S&P-500 Chart Review - Friday June 19, 2015


6E TS TradePlan Euro Chart Review - Friday June 19, 2015

Monday, June 15, 2015

ES CL 6E GC TS TradePlan Chart Review - Friday June 12, 2015

ES TS TradePlan E-mini S&P-500 Chart Review - Friday June 12, 2015

CL TS TradePlan Oil Chart Review - Friday June 12, 2015

6E TS TradePlan Euro Chart Review - Friday June 12, 2015

GC TS TradePlan Gold Chart Review - Friday June 12, 2015

Thursday, June 4, 2015

E-mini Dow Following The Script ..

YM 3 Day Chart - Tuesday June 2 - Thursday June 4, 2015
She has been following the script laid out at Tuesday U.S. cash close. 

Follow up review end of day Thursday.

Charts shown with the TS TradePlan Indicator for NinjaTrader

Monday, June 1, 2015

Summer Hours!


I don't know about you, but for me summer means a substantial cut back in screen time. The kids are out of school, the weather is hot, and in turn I am much less inclined to spend long hours with the market. I love the market, but I love my family more :)

So I thought I would lay out my summer plans. I know clients will appreciate it — but it also may inspire other traders reading this to implement their own "summer hours". 

The whole idea is to spend less time behind the screens. Here is the guide I plan to follow this summer:
  1. 1 or 2 main ideas for the instruments I want to trade.
  2. Focused. Come to trade, then quit. 
  3. Take the setups I see in the 3 1/2 hours max I am in the Zone.
  4. Take quick 2-3 min breaks to re-focus and re-charge. Meditation/Yoga/Exercise.
  5. Pull the trigger on the good setups. Stand down on the impulse trades. Know the difference*.
  6. Be present. Trade what is happening now vs. what is likely to happen next. 
  7. Consider using limit OCO's to potentially capture moves when away from the markets.* 
I put astericks next to 5 and 7 because there is an important distinction I want to make about each, but I will quickly elaborate on every point in the guide as well.

1. This is self-explanatory. What are my top 1-2 trade ideas for each instrument? Focus on trading those top ideas. 

2. Don't be distracted doing anything else during the 3 1/2 hours I plan to trade. I qualify this by saying during the time I am stalking new executions. Once positioned, and especially once some risk is scaled, I don't find it necessary to monitor every tick. Therefore # 2 speaks directly to the time when I am stalking new executions = no distractions. 

3. I don't really have a problem pulling the trigger so this has more to do with # 2 (not being distracted so executions aren't missed). A lot of trading is waiting but there is nothing worse then waiting 40 min for something to develop and then missing that something because you were distracted. 

4. This is self-explanatory as well. Have you tried this? I challenge any reader to actually do this on a consistent basis and report back how your focus/trading has improved. I know it will. 

5. The "know the difference" part is again about being aware and being present. Inherently deep down we know what a valid trade setup is and what an impulse trade is, so knowing "what" they are is not so much the issue as consistently avoiding the impulse and consistently taking the valid. I find it helps to talk to myself. (Who was it that said: "I talk to myself sometimes, especially when I need an expert opinion". Anyway, having a dialogue with yourself can help. Try talking yourself through the next trade set up. Out loud. 

6. This is again about being present. 

7. I used to use a lot of limit OCO's so this is not something new. In recent years I have gotten away from them mainly due to the fact that I want to be present during my executions in order to factor in other components besides price for my entry. Specifically, market context. When entering using limit OCO's we are basing our entry using price as the only factor. Essentially saying if price gets here I am buying or if price gets here I am selling. While we can set our stops, targets, risk reductions all ahead of time to work on auto pilot, which is great, it still only allows us to factor in price alone as the entry parameter. Anyway that being said — there is still a place for limit OCO's because sometimes for me price is the only variable used in determining entry. If a trade like that is setting up, maybe overnight during Europe or after I am done for the morning, I will use limit OCO's to enter new positions. 

As long time readers know there are really 2 best times to trade and I plan to execute during the morning session.

Hope these "summer hours" inspire you to design a plan for your own summer trading!

Sunday, May 31, 2015

Thursday, May 28, 2015

CL TS TradePlan Oil Chart Review - Thursday May 28, 2015

E-mini Dow (YM), E-mini S&P-500 (ES), Euro (6E) Oil (CL) TS TradePlan Chart Review - Wednesday May 27, 2015

YM TS TradePlan E-mini Dow Chart Review - Wednesday May 27, 2015

ES TS TradePlan E-mini Dow Chart Review - Wednesday May 27, 2015

CL TS TradePlan Oil Chart Review - Wednesday May 27, 2015

6E TS TradePlan Euro Chart Review - Wednesday May 27, 2015

Charts shown with the TS TradePlan Indicator for NinjaTrader

Tuesday, May 26, 2015

E-mini S&P-500 + E-mini Dow TS TradePlan Chart Review - Tuesday May 26, 2015

ES TS TradePlan E-mini S&P-500 Chart Review - Tuesday May 26, 2015

YM TS TradePlan E-mini Dow Chart Review - Tuesday May 26, 2015
Sometimes real-time insight can be given in the Private Client Feed that is not available in TS TradePlan.
Charts shown with the TS TradePlan Indicator for NinjaTrader

Trade What You See, Not What You Think


Image result for being present
We've all heard the phrase "trade what you see, not what you think" but what does it mean?

Well, to me it means to trade what is happening now vs. what is likely to happen next! As traders we have the tendency to anticipate what is likely to happen "next". After all, the best traders do anticipate what is likely to happen and what they are going to do IF price goes to A or B.

But oftentimes we get stuck in the "if-then" mentality. If price gets to this spot I'll do this. How many missed trades do we have waiting on price to get to our level. If anticipating a move into an area ... why not position to capture that move .. then stalk a trade keyed to the area if it makes sense once price is trading there.

People do this all the time with the Execution/Target Zones. Wait on a move into the one of the Zones to execute instead of targeting a move to the Zone. This is why they are called Execution/Target Zones. If they were just for executions (entering new trades) they would be called Execution Zones.

We have to trade what is in front of us. This may sound counter-intuitive to my # 1 quality of top traders but it is not.

I know I'm guilty of this myself. It is why I am writing the post. I am going to make it a point to trade what is in front of me. To be aware. To operate in the present.

We analyze the past to determine what is likely to happen next. What the market is currently trying to do. We must operate (execute) from this (current) place. Not a distant price in the future. We must be present.

Tuesday, May 19, 2015

Tuesday, May 12, 2015

Oil (CL), E-mini Dow (YM), Euro (6E) Gold (GC) TS TradePlan Chart Review - Tuesday May 12, 2015

CL TS TradePlan Oil Chart Review - Tuesday May 12, 2015

YM TS TradePlan E-mini Dow Chart Review - Tuesday May 12, 2015

6E TS TradePlan Euro Chart Review - Tuesday May 12, 2015

GC TS TradePlan Gold Chart Review - Tuesday May 12, 2015