TraderSmarts Numbers for the YM Emini Futures - Wednesday June 30, 2010

Support becomes resistance and vice versa...

9878, 9338*, 10044, 10076*, 10117, 10168, 10219*, 10265 Resistance on the YM Emini Futures

9842, 9815, 9775*, 9755*, 9677* Supports

Trade smart and trade well!

YM: Remember the 9966-9933 and 9886-9860 zones from yesterday. Over 9938 and holding and short squeeze potential.

10219 and 10076 highest odds short FTU. 9775/9755 highest odds long FTD.

Last day of the quarter and today closes the monthly charts. Pay attention.

TraderSmarts Numbers for the YM Emini Futures - Tuesday June 29, 2010

Support becomes resistance and vice versa...

10023, 10044, 10076*, 10117*, 10168, 10219, 10265 Resistance on the YM Emini Futures

9966*, 9933*, 9886, 9860, 9808 Supports

Trade smart and trade well!

YM: 10117/10076 highest odds short FTU. 9966 (already printed)/9933 highest odds long FTD. 9886 - 9860 is also a big.

CL: Was really looking for a move into the 80.66 - 80.09 range (and upper end of my 78 - 81 swing long target) but I am seeing signs of a possibility that the high on CL has been printed. Next two days will give more information. If I determine that the high has been printed and we don't get the top - there will be ample opportunity to enter swing short for the expected move back to 57.5 target. The nearly 8 point swing long and this swing short setting up are the types of trades that take your trading to the next level.

TraderSmarts Numbers for the YM Emini Futures - Monday June 28, 2010

Support becomes resistance and vice versa...

10129, 10168, 10219, 10265, 10327, 10362, 10391 Resistance on the YM Emini Futures

10077, 10023, 9966, 9933, 9860 Supports

Trade smart and trade well!

YM: 10265 highest odds short FTU. As mentioned on Thursday 10023 is Huge. It held to within 3 ticks on Friday. That and lower spot to look for longs.

TraderSmarts Numbers for the YM Emini Futures - Friday June 25, 2010

Support becomes resistance and vice versa...

10168*, 10202, 10234, 10272, 10315, 10362*, 10391, 10451 Resistance on the YM Emini Futures

10113, 10063, 10023*, 9966*, 9933*, 9860 Supports

Trade smart and trade well!

YM: 10168 area for initial short FTU. 10023 is Huge. 9966/9933 highest odds long FTD. Weeklong downtrend starting Sunday night. Be aware of potential for eod squeeze.

TraderSmarts Numbers for the YM Emini Futures - Thursday June 24, 2010

Support becomes resistance and vice versa...

10286, 10312, 10334, 10362*, 10391, 10451*, 10531, 10549, 10580, 10657 Resistance on the YM Emini Futures

10234, 10202, 10153*, 10099, 10058, 10023 Supports

Trade smart and trade well!

YM: 10362 & 10451 highest odds short FTU. 10153 and lower spot to consider longs.

TraderSmarts Numbers for the YM Emini Futures - Wednesday June 23, 2010

Support becomes resistance and vice versa...

10312, 10334, 10362*, 10391, 10451, 10531, 10549, 10580, 10657 Resistance on the YM Emini Futures

10268, 10234, 10202, 10153, 10099*, 10058, 10023 Supports

Trade smart and trade well!

YM: 10334 - 10391 initial short area. 10362 highest odds short FTU. 10153 and lower spot to consider longs. 10099 highest odds long FTD.

FOMC today.

TraderSmarts Numbers for the YM Emini Futures - Wednesday June 22, 2010

Support becomes resistance and vice versa...

10411, 10451, 10506, 10531, 10549, 10580, 10657 Resistance on the YM Emini Futures

10391, 10334, 10262, 10234, 10202, 10153 Supports

Trade smart and trade well!

YM: 10506 and higher highest odds short FTU. 10451 aggressive short FTU. 10153 highest odds long FTD.

TraderSmarts Numbers for the YM Emini Futures - Monday June 21, 2010

Support becomes resistance and vice versa...

10531*, 10549* 10580, 10657 Resistance on the YM Emini Futures

10451, 10391, 10334, 10262, 10234 Supports

Trade smart and trade well!

YM: 10549 - 10531 highest odds short FTU. 10391 highest odds long FTD.

TraderSmarts Numbers for the YM Emini Futures - Friday June 18, 2010

Support becomes resistance and vice versa...

10380, 10414, 10451, 10531 Resistance on the YM Emini Futures

10332, 10286, 10234, 10182, 10132, 10111, 10079, 10035 Supports

Trade smart and trade well!

YM: 10451 highest odds short FTU. 10182 highest odds long FTD. 10380 aggressive short FTU.

TraderSmarts Numbers for the YM Emini Futures - Thursday June 17, 2010

Support becomes resistance and vice versa...

10308, 10355, 10380, 10414, 10451 Resistance on the YM Emini Futures

10234, 10182, 10132, 10111, 10079, 10035 Supports

Trade smart and trade well!

YM: 10234 - 10182 highest odds long FTD. 10451 - 10414 highest odds short FTU.

TraderSmarts Numbers for the YM Emini Futures - Wednesday June 16, 2010

Support becomes resistance and vice versa...

10318, 10380, 10414, 10451* Resistance on the YM Emini Futures

10262, 10234*, 10182, 10111 10079, 10035 Supports.

Trade smart and trade well!

YM: 10234 highest odds long FTD. 10451 highest odds short FTU.

TraderSmarts Numbers for the YM Emini Futures - Tuesday June 15, 2010

Support becomes resistance and vice versa...

10156, 10188, 10211, 10262, 10309, 10414 Resistance on the YM Emini Futures

10111, 10079, 10035, 9966, 9899, 9827, 9739 Supports

Trade smart and trade well!

YM: Viewing 9966 highest odds long FTD. Most likely won't attempt any longs until Monday highest odds long FTD at 10079 or 10035. Highest odds early short FTU 10188. Otherwise would like to see a higher high over Monday high at 10309 or so.

TraderSmarts Numbers for the YM Emini Futures - Monday June 14, 2010

Support becomes resistance and vice versa...

10211, 10262*, 10309*, 10414 Resistance on the YM Emini Futures

10156, 10111, 10079*, 10035*, 9966, 9899, 9827, 9739 Supports

Trade smart and trade well!

YM: Viewing 10266/10309 as area to look for short and 10079/10035 as area to look for long.

TraderSmarts Numbers for the YM Emini Futures - Friday June 11, 2010

Support becomes resistance and vice versa...

10121, 10173*, 10211*, 10262, 10309 Resistance on the YM Emini Futures

10070, 10023, 9966*, 9899, 9827, 9739 Supports

Trade smart and trade well!

YM: 10211 and 10173 highest odds short FTU. 9966 highest odds long FTD.

TraderSmarts Numbers for the YM Emini Futures - Thursday June 10, 2010

Contract rollover today. We are now on the U contract...

Support becomes resistance and vice versa…

9933, 9960, 10034, 10073*, 10121 Resistance on the YM Emini Futures

9899, 9866, 9794*, 9739, 9648 Supports

Trade smart and trade well!

YM: 10073 highest odds short FTU. 9794 highest odds long FTD.

TraderSmarts Numbers for the YM Emini Futures - Wednesday June 9, 2010

Support becomes resistance and vice versa...

9956, 10038, 10081*, 10102, 10160, 10202 Resistance on the YM Emini Futures

9892, 9856*, 9826*, 9782, 9713, 9646 Supports

Trade smart and trade well!

YM: Still waiting for a move up to 10081 and still viewing the 10038 - 10102 area as place to short. 10081 highest odds short FTU. Over 10102 and holding and there is short squeeze potential so be aware. 9856 and 9826 highest odds long FTD.

TraderSmarts Numbers for the YM Emini Futures - Tuesday June 8, 2010

Support becomes resistance and vice versa…

9912, 9956, 10038, 10081*, 10102, 10160, 10202 Resistance on the YM Emini Futures

9859, 9828, 9801*, 9707, 9646

Trade smart and trade well!

YM: Our highest odds short area didn't hit on Monday. Still viewing the 10038 - 10102 area as place to short. 10081 highest odds short FTU. Over 10102 and holding and there is short squeeze potential so be aware. 9801 highest odds long FTD.

TraderSmarts Numbers for the YM Emini Futures - Monday June 7, 2010

Support becomes resistance and vice versa...

TraderSmarts Numbers for the YM

9882, 9939, 9956, 10038, 10081, 10102, 10160, 10202, 10246 Resistance on the YM Emini Futures

9812*, 9777, 9718 Supports

Trade smart and trade well!

YM: Viewing the 10038 - 10102 area as place to short. 10182 highest odds short FTU. Over 10102 and holding and there is short squeeze potential so be aware. 9812 highest odds long FTD.

TraderSmarts Numbers for the YM Emini Futures - Friday June 4, 2010

TraderSmarts Numbers for the YM

10322, 10375, 10451, 10540, 10599 Resistance on the YM Emini Futures

10246, 10214, 10174, 10125, 10086 – 10072 Supports

Trade smart and trade well!

YM: 10375 and 10451 highest odds short FTU. 10125 highest odds long FTD. 10174 next highest odds long FTD. 10214 or a lil lower aggressive long. Expecting a push to the 10375 - 10451 area to close the week.

TraderSmarts Numbers for the YM Emini Futures - Thursday June 3, 2010

TraderSmarts Numbers for the YM

10322, 10375*, 10451*, 10526, 10540, 10599 Resistance on the YM Emini Futures

10246, 10174, 10125, 10086 - 10072 Supports

Trade smart and trade well!

YM: Straightforward logical price action Wednesday. Looks like we are getting the move to 10375 - 10451 as anticipated. Highest odds short FTU is 10375 and 10451. Highest odds long FTD is 1o125 but high odds that we don't get a pullback that for Thursday. Next highest odds long FTD is 10174. 10246 is Aggressive long.

***The highest odds FTU and FTD are good from the time I send the update and DO include the overnight session.***

TraderSmarts Numbers for the YM Emini Futures - Wednesday June 2, 2010

TraderSmarts Numbers for the YM

10072, 10086, 10141, 10218, 10322*, 10375, 10451 Resistance on the YM Emini Futures

10006, 9932*, 9844, 9777 Supports

Trade smart and trade well!

YM: 9932 highest odds long FTD. 10322 highest odds short FTU. 10072 -11086 is big - you saw me tweet it short last night. Over 10086 and holding and squeeze potential with 10218 initial target. Over that and holding and potential for 10375 target. It would make sense to me to move back up to 10375 - 10451 area before getting much lower than 9932 from here.

TraderSmarts Numbers for the YM Emini Futures - Tuesday June 1, 2010

TraderSmarts Numbers for the YM

10112, 10162, 10214, 10322*, 10375, 10451 Resistance on the YM Emini Futures

10075, 10016, 9932*, 9844, 9777 Supports

Trade smart and trade well!

YM: 9932 highest odds long FTD. 10016 2nd highest odds long FTD. 10075 agressive long. 10322 highest odds short FTU. 10112 agressive short.

Qualities of Top Traders

1. Patience

"The waiting is the hardest part" - Tom Petty

"Patience pays. Wait. Let the hand of God work for you. One who has created you let Him create all the environments, circumstances, and facilities & faculties" - Yogi bhajan

I don't know about you but I trade to put food on the table for my family. In the long run if f I don't make money – we don't eat. A lot of trading is waiting. Waiting for the best trade to come to you, waiting for your scales to be hit, waiting for final target to be hit, etc. If you are impatient you lack the ability to wait for these things. If you are trading for excitement or thrills then you will find yourself taking stupid trades out of a need for action and in return you will not experience the results you desire. Much better to head to Vegas or go bungee jumping. Before I put ONE DOLLAR at risk I want to be sure that the odds are stacked in my favor. You won't find me trading out of boredom, or taking a low odds trade because I feel the need to do "something". I am fine being flat. You should learn to love the waiting – the waiting is what enables you to make the money.

2. Decisiveness.

"It's better to be boldly decisive and risk being wrong than to agonize at length and be right too late" - Anonymous

"Procrastination in the name of reducing risk actually increases risk" - Colin Powell

"Take time to deliberate, but when the time for action has arrived, stop thinking and go in" - Napoleon Bonaparte

"In any moment of decision, the best thing you can do is the right thing, the next best thing you can do is the wrong thing, and the worst thing you can do is nothing" - Theodore Roosevelt

If you have the patience to wait for your setup then you better have the decisiveness to GET IN THE TRADE once price comes to you and your entry parameters are present. How many people wait for the trade to come and then when it arrives start analyzing if they should take it? When the trade has arrived it is time for action, not analyzation. This is what preparation is for. If you have done your homework there is no need for hesitation – you already know what to do. At the same time trading is not static. There are times when the odds are high that the market will reverse before your final target is hit. Do you have the decisiveness to reverse the position or flatten when this situation is present? It has been said that the number one ingredient to being a great trader is the trading guts to pull the trigger as soon as a reverse is anticipated. Be decisive.

3. Gratitude.

Wanna thank you, Wanna thank you

Freedom in stride, love, peace of mind

We just wanna give Gratitude - Earth Wind & Fire

Thank you, Lord, for what you've done for me

Thank you, Lord, for what you're doing now

Thank you, Lord, for ev'ry little thing

Thank you, Lord, for you made me sing - Bob Marley

"He is a wise man who does not grieve for the things which he has not, but rejoices for those which he has" – Epictetus

If you book 10 points on the day are you the type of trader that is mad about the 15 pts left on the table or grateful about the 10 you pocketed? A consistently profitable trader is a continuously grateful trader. When you are grateful for what you have you operate out of a state of abundance. How many times have you become upset about missing a trade you were waiting for, or about how far a position ran after you got out, or about getting stopped at the extreme of a move only to see the trade reverse in your favor? It happens to all of us and we all do it. It is normal to think we should have booked more profits or done better - that is a characteristic of most traders - we are never satisfied and always think we can improve on our performance.  The key is to be thankful and grateful for what we do get. By maintaining a thankful and grateful mindset it opens the way for abundance and blessings to come into your life.

More will be added but thought I would share as they are written…

TraderSmarts Numbers for the YM Emini Futures - Friday May 28, 2010

TraderSmarts Numbers for the YM

10251, 10298, 10375*, 10451*, 10471, 10497 Resistance on the YM Emini Futures

10202, 10176, 10075*, 10030, 10009, 9932 Supports

Trade smart and trade well!

YM: 10219 was highest odds short FTU for Wednesday. We got a reversal at 10212 and then 10215 FTU. Then we blew through 10219 with 10 min to the close. Obviously you don't take that short after resistance just under the 10219 two times and then the move into it with less than 15 min to go in cash session.

Thursday highest odds short FTU is 10451 and then 10375. Highest odds long FTD is 10075. Under 10075 and holding and expecting a long squeeze to ensue.

TraderSmarts Numbers for the YM Emini Futures - Thursday May 27, 2010

Support becomes resistance and vice versa...

10105, 10148, 10219*, 10298, 10375* Resistance on the YM Emini Futures

10075, 10009, 9971, 9932*, 9844, 9777, 9667, 9596 Supports

Trade smart and trade well!

YM: This 10230 is still in play. 10219 (This illusive 10230 target) is highest odds short FTU. IF shorting this 10219 the reversal needs to be FAST. If it is not a fast reversal high potential for a squeeze to the higher Numbers. Look to scale to hedge and lock in profits. Highest odds long FTD 9932.

TraderSmarts Numbers for the YM Emini Futures - Wednesday May 26, 2010

TraderSmarts Numbers for the YM

10149*, 10202, 10227*, 10380 Resistance on the YM Emini Futures

10074, 10035, 9973, 9922, 9844, 9777, 9667 supports.

Trade smart and trade well!

YM: 10149 highest odds short FTU. 10227 (This illusive 10230 target) now becomes 2nd highest odds short FTU. IF shorting this 10227 the reversal needs to be FAST. If it is not a fast reversal high potential for a squeeze to the higher Numbers. Look to scale to hedge and lock in profits. Highest odds long 10035 and then 9922.

TraderSmarts Numbers for theYM Emini Futures - Tuesday May 25, 2010

TraderSmarts Numbers for the YM

9960, 10013, 10045*, 10105, 10155, 10230, 10322, 10380 Resistance on the YM Emini Futures

9865*, 9844*, 9777*, 9667*, 9596 Supports

Trade smart and trade well!

YM: 11045 highest odds short FTU. Highest odds long FTD starts at 9865.

TraderSmarts Numbers for the YM Emini Futures - Monday May 24, 2010

Support becomes resistance and vice versa...

10230, 10322, 10380*, 10416, 10547 Resistance on the YM Emini Futures

10152, 10106 – 10095*, 10047, 10016, 9960*

Trade smart and trade well!

YM: 10380 highest odds short FTU. Highest odds long FTD is 10106 - 10095 and 9960.

TraderSmarts Numbers for the YM Emini Futures - Friday May 21, 2010

Support becomes resistance and vice versa...

10152*, 10204, 10230*, 10322, 10372, 10416, 10547 Resistance on the YM Emini Futures

10047, 9922*, 9865, 9596 Supports

Trade smart and trade well!

YM: 10152 and 10230 highest odds short FTU. Over 10230 and holding and huge squeeze potential. Highest odds long FTD is 9922. 11047 a place to consider long FTD.

New Blog Post - Why You Should Get Rid of Your 1 Minute Chart

Be sure to see the comment I left in the comments of above post.

TraderSmarts Numbers for the YM Emini Futures - Thursday May 20, 2010

Support becomes resistance and vice versa...

10416, 10446*, 10516, 10547, 10620*, 10688 Resistance on the YM emini Futures

10370, 10322, 10248, 10176*, 10136*, 10108, 10047 Supports

Trade smart and trade well!

YM: 10446 and 10620 highest odds short FTU. 10176 and 10136 highest odds long FTD. If I am not already short I will consider longs at 10322 and 10248 as well.

New Blog Post - Why You Should Get Rid of Your 1 Minute Chart