Trading Session Recap (Week 29; Day 4)

Trading Futures, options on futures and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment.  The lower the day trade margin, the higher the leverage  and riskier the trade. Leverage can work for you as well as against you; it magnifies gains as well as losses. Past performance is not necessarily indicative of future results.


Looking at the week behind 1 day @ a time…..

Good trading is always going back over the trading day and reviewing the setups that may or may not have worked out and what kept you in or perhaps took you out too early. Looking for the trend move and remaining in the setup is the objective. It’s your patience and discipline that will continue to grow as a trader when you implement such tools.

Markets:  ES, NQ, RTY, YM, CL, GC, 6E, 6J

*Results will vary for each individual trader based on market entry/exit and/or live versus simulated environment.


Recap/Outlook Video: 

  • Charts Only

Session Highlights

  • Markets
    • Indices
      • AM Session: Premarket chop turns south on post Draghi/BOJ announcements. ALGO news related action sends indices down slightly further and back upside prior to euro close. Couldn’t hold going into mid-session.
      • PM Session: Slow grind, flat momentum as RTY/Nq close out at today’s open and ES at the daily gap.QRTY/NQ/ES – New ALL Time Highs
    • RTY volume increasing; 8957
    • VIX closes out @9.58
  • Economic Highlights
    • Draghi/ECB
    • BOJ: Monetary policy unchanged; Cuts inflation expectations
    • Jobless Claims:  positive indication for the July employment report, initial jobless claims fell a very sharp 15,000
    • Philly Fed:  general conditions index looks solid at 19.5, still very strong though down from 27.6 in June 
    • Leading Indicators: Housing permits gave the index of leading economic indicators a major lift 
    • Sears to sell products on Amazon
    • MSFT/V earnings: On paper looks good; EBAY not as well.
    • POST MARKET CLOSE: FTC probe into Amazon pricing discount
  • News
    • Mueller to investigate Trump Business Transactions
    • OJ Simpson paroled

Charts of Interest

Charts posted in sequential order of trading session

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……view commentary on charts above posted intraday via Twitter


Setup Highlights

Setups reflective of highest probability setups based on price action crossover of the 5/34ema in sync with the 50/144ema cloud using 1 of 4 possible trade management setups and exit strategies. Market order entries/exit will vary whether simulated or live for each trader. All setups are called out on real time charts in a screenshare room and randomly posted online.

ES

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NQ

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TF/RTY

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YM


Government Required Risk Disclaimer and Disclosure Statement

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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