Monday AM Briefing | Preparing ES Traders For Our Emini and MES Micros Futures Trading Room
Transcript:
good morning Traders this one’s called devil in the [Music]
bottle we know what that devil is the Tempest of over
Leverage come on Johnny you’re seeing the chart good go big on this
train the devil temps you every single [Music]
trade your job is tell the devil sit down and shut
up so this week I’m going to try to live stream a.m.
briefing little bit of music maybe couple
quotes maybe continue live streaming through the
[Music]
[Music] opening all
right so of course disclaimer is uh this is not investment advice this is just
some guy who’s pretty good at knowing where price bounces and pretty good at teaching others how to trade it as well
so back in the early 1900s there’s this famous ad by
Shackleton and I think it relates to Traders men
wanted hazardous Journey small wages bitter
cold long months of complete darkness constant
danger safe return doubtful honor and recognition in the event of
success well I think this is the Traders Journey as well he had something like uh 27 spots
5,000 people applied I think the percentage there is
reflective of the percentage of successful Traders as well so welcome to
the am briefing brought to you by micros Trader we’re together we trade better so
in the group last night if you’re a member this weekend I posted a few charts for you to contemplate your magic
eight ball prediction of price um I posted mine one of the things I wanted to add it add is where I put that price
might possibly bounce um is at a 10% pullback um I see us bouncing off
here first of all the low created here was in the overnight session uh that’s
going to be weak and then I see us bouncing from there coming to here and making our 10% of course this is Magic
apall it’s my two cents and that is about what it’s worth two cents all right so let’s start off with
a couple quotes here so I’m in my personal Bible study I’m in First Corinthians right now and this morning
this is exactly what I read to my wife uh you say I am allowed to do anything but not everything is good for you you
say I’m allowed to do anything but not everything is beneficial don’t be concerned with your
own good but for the good of others I like that because not everything is
beneficial not everything is good for you to me it connected to the devil in the bottle song that is over leverage
and then let’s do a mark Douglas quote I am a consistent winner because I
objectively identify my Edge for us it’s the bounce levels we have a very high probability uh
system I Define the risk of every trade so have a high probability system use
your leverage metrics I completely accept the risk and am willing to let go
of the trade once again this is leverage metrics this is knowing when you’re wrong and getting out this is taking a
half loss this is taking the gift of Break Even I act on my edges without
reservation or hesitation this is why I want you to do your end of the day charts every day that way you have the
confidence to know that you have an edge and that you should take those trades without reservation or hesitation
regardless of what I do I might be long and there’s a play to go short and you go short no nothing wrong with that I
can make money long while you make money short I pay myself as the market makes money available to me we peel off
contracts and leave a runner I continually monitor my susceptibility
for making errors know when you make a Trader error have a limit of the number
of Trader errors you’re allowed in one day and take the L and get out if you’re
making errors just stop I understand the absolute necessity of these principles for consistent success and therefore I
never violate them that’s right okay so this is a high
time frame chart I’m going to start here it’s the best place to start right it’s a Monday so we have this daily trend
line that was finally broken and then we established this higher time frame it’s yellow today because um it’s also one
hour so I made it a little higher then we went a little parabolic perhaps we’ve went a little more parabolic here and
typically when you are in a parabolic move you don’t want to counter that now
that said we are an environment where the risk of a short squeeze is high so let’s bring this in
here so we did the quote in the scripture last week uh our core our
basic core strategy had 26 winners no losers and one break even I mean six break evens Now dial down in those break
evens three of them would have been full losers if you did not take the gift of Break Even full loser if you did not
take the gift of break even so take the gift a break even where are we well we
just talked about it we’re in a parabolic down move but we’ve had six down days this puts us in the category
of risk of a short squeeze is high you must know that so if this thing decides
to go and you decide to short it adjust your leverage take the L
uh Magic eightball prediction I just gave it to you so the game plan today if you’re going to short go small leverage
what we just said know when things are turning around okay now this over this
our low here was done in the overnight session that thing is insecure it’s not
secure so I would love to see us come back down there to that in fact if you saw my eightball prediction I would like
us to go a little further down and then let’s go up but we’ll trade Trend and
trade location as it’s presented to us so your tip today is going to be please
utilize the critique my trade um had a Trader she joined for what two months
never earned a badge never posted a a critique tra critique my trade and uh
left the group and she said well everything was ripping through my levels I don’t even know if you know how to
draw the levels right I don’t even know um what trade you thought you should
have take that didn’t so please please use the critique my my trade Channel put yourself out there this is a very safe
group to put yourself out there and in fact critique my trade is 100% Anonymous I don’t know who submits
the critique my trades I did that so that you would feel comfortable just submit it who
cares so TPO chart that’s something I’m going to show you here so let’s turn this off and I want to go and I’m going
to slide this out of the way um new little feature on trading View they now have this time price opportunity it’s a
TPO chart so let’s click TPO and you’ll see it turns it into like a market
profile um time price opportunity I want to talk about one of the
differences so um when it does this I think it does it for the entire from what I can tell the entire overnight
session included including the rth and you’ll see that Pock is right here so
what I’m going to do is I’m going to put a horizontal line at the TPO
po okay now let’s go back to the candles and then I’m going to
go and use this SVP and notice where the pock is here
this is the volume Pock so two different Pock one of my members had a question
last week about this where was the volume Pock and where’s the TPO Pock so
the volume pock is the one that
um here let’s draw this here real
quick so you can see for this rth session there’s the pock so if you look
at this Top Line This is based off time well look how many candles we’re touching here is it any surprise this is
where the pock was for time but down here was
volume was volume we tend to pay attention to volume over time because to
me our levels bounce because people are defending price so therefore where the
volume is is where the most people are but I just want to show you that I thought that was a neat little feature
that trading view added all right let’s Zoom back in here
let’s turn this on
here I think about right there is
good so although we are in this double
parabolic you can see this is the second line here’s the first line um this line trend lines can be taken out one of two
ways by a distance going north here or by distance going to the right and we’re
breaking it based off time um and so I will probably end up removing this one I
don’t really need it I know where I’m at plus I have this parabolic trend line up there so I’m going to remove it so what
I’m showing you here are session highs and lows that I believe should be on your chart we’ve got the Asia overnight
low here was also the weekly low in fact I probably need to DeMark that um I need
to mark that up we have this rth low we have the Asia low the London low and what are we doing right now well we are
gradually grinding our way back up each little push down is getting bought back
up we are still within Friday’s range until we take out a daily High nothing
changes this is just Yaky to Yak this isn’t don’t come back so this is not
anything but it does have a trend line here okay we also had this Gap up and we have not filled this Gap love you it’s
my daughter um so yeah those are the session levels
that I want to make sure you have this rth and then you’ve got a few more up there uh that’s why you’d want to use
the pre-flight indicator it helps line all of those things out for you and you want to mark them the weekend is the
perfect time to clean up your chart and I hope my Traders did that now what I’ve
done to try to make things a little easier um for non-members I have been
sharing strong levels with my non-members to be honest I do it as a marketing concept uh as far as wow that
bounced wow that bounced wow that bounced and it does in fact if you go to
um my website micr trader.com here I’m going to slide this over um so this is
the price map that we’re going to look at here in a second but also if you come down here to am briefings and you wanted
to go back in time and uh look what I said in the morning versus the afternoon it’s a good place to do that so for this
price map let’s go ahead and talk about this real quick I’m going to scroll down um couple charts there for you showing
the double parabolic and it’s also here showing the strong levels so just come here and you can click this chart and it
will bring them out bigger now this is some of the strong levels it’s not all of them if you want all of them um
actually two options I’m testing out if people would be interested in our indicators uh one of those indicators is
the all of the strong levels I’m just showing you the ones immediately here periodic updates every now and then I’ll
post something uh that will appear right here live and if you click the little box it will expand that box if you want
to see it bigger so single prints make sure those are on your charts if you
were interested in a video discussion what are single prints you can watch those videos there couple VPX for you
the strong levels I’ve decided to do this instead of just writing out the levels and makes it easier news drivers
this week it is Monday we got NADA everybody’s going to be looking towards the end of the week for pce so today not
only is it Monday but it’s Monday with no news
drivers okay so all these strong levels have been thoroughly tested and hit um
the only one that hasn’t is this one right here this 5725
5725 there um that’s this is a range of you have my indicator there this is a
range and it hasn’t went to the bottom of it it bounced off the top beautifully
on that night where Israeli responded um I believe that if we get
past this strong level be careful with shorts above this could begin the short squeeze of course there’s a daily High
plus this strong level that when it finally broke this strong level that’s where it vomited when it finally broke
that strong level that’s where it vomited so above here I would start
going uh warning warning um and if you wanted put this 5325 on your chart if
you’re not in my group and set in an alarm this says when price crosses that alert me careful with shorts above
careful with shorts above all right so let’s do this now
let’s go over and check everybody else out I have not adjusted these yet so let’s adjust these together
and what this does is where is everybody in relation to their Friday
range whoa Dow is above their frid’s High
okay let’s see where NQ is it’s inside there let’s pull this
down put half back at half back and let’s put this at the
high and now e yes the
low half back and
high so now let’s kind of get these halfbacks lined up let’s get an idea of where we are all at are we all on the
same train that’s the purpose of this if you’re going to go long and
everybody’s going north it certainly gives more confidence for the trade look
at Dow my goodness and when we go to the weekly chart that’ll confirm it and look
at and look at Russell So based off
Fridays two guys are on the verge of breaking out the other two which um is
NQ and Es as you see down here um somewhere here about the
halfback H we all are trending up
from Friday’s low okay very cool inq when I want to
look at inq in more in depth so here’s the weekly chart as you can see who had
a up week last week Dow did
interesting so okay and now let’s go
to just kind of where these guys are Tesla Nvidia Apple and Microsoft there
will also be some alerts if you’re in my group that’ll be going off of when these things are hitting High time frame
bounce levels use that data as you wish none of this is investment advice but I
have have set alerts to notify us of certain actions there gold silver silver
oil and Bitcoin Bitcoin is only one on a 30 minute chart these other ones are all on
a daily chart um obviously gold has had a monster move and so something to keep
an eye on bitcoin is always of interest just a monitor ah here’s something else
so one of the things I did this weekend if you trade SPX I am working I’m I’m testing to
where the strong levels if I redo them to where you could say all right I’m on an SPX
chart adjust them for the SPX chart so you click that and then and they adjust
so watch it again I turn it off the lines will change and then SPS this is where the strong levels would be
on the XP SPX chart if you trade SPX so
it’s one of the things I’m going to watch here for the next week or two um I have to draw the lines differently see
how they come from back here and they stop at where current prices it’s just the way I’ve I’ve had to do it um they
will adjust each day based off the price difference between SPX and Es so
something I am monitoring uh to see if like
it okay so as far as the am
briefing we went over the news drivers um strong levels let’s do that real
quick I’m we’ll turn these off let’s come down here turn on my strong levels
so the small adjustment is kind of the words careful with Longs below we take
out this level uh it’s really watch out below and we’re going to get a squeeze
up to 5125 from here I don’t know but we are certainly lading up and
one of the things that my eyeballs is on as well is we gapped
up here this represents the Gap um we took back half of it those would have
represented good Longs and now we’ll see if we come back and take all of it so that’s something I’ll be watching today
um so once again I’m going to try to do the am
briefings uh live like this that way I don’t feel like I’m in a rush have a little more time I get to look at the charts for a little bit longer I’m also
probably going to stay on YouTube live probably for the first 15 minutes of the
opening and then end it so that would conclude the am briefing if you’re just watching for the am
briefing morning Mr Brooks Mr
Patrick all
right need to do a couple updates here on my website yes good morning Mr
Patrick Mr P Patrick you’re one of those ones I’m definitely encouraging
that if you feel you made a core strategy trade it didn’t go as you expected use the critique my trade is
completely Anonymous and I’ll give me all that data that I asked for there and I’ll do my best to give feedback and I
don’t even know it’s you just if you want to utilize that I think uh it’s
extremely valuable when Justin first joined the group he was posting a critique my trade every single
day and uh that really helped him good morning
all right so now the am briefing guys is
going to be I’m going to experiment this week doing it on YouTube
live so I just put the link on the trading floor go watch the first
probably 15 minutes that’s the am
briefing and then I’m probably going to continue stream streaming for 15 minutes after the opening we’ll see all right um
I got to make a couple adjustments on my
website I also want to
also going to like to go over that every Monday
throw that on right that
turn off
that I will say you dial in to a three minute chart here this price action is
is uh not very pretty um but the up moves the up candles seem
to be really aggressive so uh something to be mindful of just not
the prettiest price action but we’ll look at it again here in just a little
bit so do you want a trade Journal Patrick
I certainly don’t mind creating it so just let me know whenever you want
that or that’s today tomorrow next week whatever all I ask is that you keep up
with it you
know you know and a lot of people you if a lot of new Traders the
system do tend to revert back to some old uh
habits and um it’s one of those things that once you fully surrender to what we
do and you just do it that’s the power of doing the end of the day charts is go holy cow if i’ have
just done the core strategy holy cow if i’ have just done the core strategy if I have just done the core
strategy all right let me make Patrick
a trade
Journal Patrick Journal trying to keep these in alphabetical
order you are there my friend all I ask on that to is two things one keep it up
two keep it as close to core strategy as possible I don’t want you posting trades
or things oh the moon phases were doing this and so I did that and um I’d like to keep everyone focused on core um
because it
works all right
yeah yesterday I was experimenting with music I wanted to use uh for the am briefing my my wife was laughing because
every day is going to be something different um so trying to make that a
little more fun I don’t know or
goofy it’s okay I don’t mind putting myself out there
all right Monday
did you see it Patrick
cool cool cool you’re welcome all right um we’ll go over this
here in just a minute let more people get in the room it’s
Monday let’s get my Dom loaded
all right portion of the screen share all right I got my dom loaded now
all righty I think the most important thing
over here is what is everybody else doing I mean Dow has its overnight Pock
above Friday’s High that’s
strong let’s go drill in on a three minute
here one the things I look for in the morning is how well are the levels whoa how level the levels being respected in
both
directions yeah these up moves are fairly strong in my opinion here
um just too light of a price action to even be on a 3 minute I really like being on a
10-minute in the pre-market 10 15 minutes somewhere in there doesn’t really matter I’m usually
not trading the pre-market especially on a
Monday Mondays are good chop days and after the week we had last week
it’ll be interesting to see what happens today
turn on
alerts e
Al righty
oh yeah I was going to mark this Asia overnight
low weekly low
let me
see all right I’ll be back in a minute
and
e
e
e
e e
man I wish I could have played Shadow Trader’s news uh video for you this morning it was a dto of everything I
said this morning so it’s always fun to have another guy that you respect echoing what you’ve said it’s
always it’s just a double check for me every day when I listen to Shadow
Trader all right so what’s not happening here we’ll get more people in the room
before we really discuss
it so it is Monday Monday that cannot be
ignored and there’s no news drivers today with PC at e at the end of the
week slide this over let’s go here
better in the room no we’re
live I would certainly love a push down to the bottom of this Gap I’m going to
remove it it’s just too many colors but to know that it’s there it’s also the overnight low so
it’s real easy so I would certainly be taking a long off of
that that would be awesome if it did that actually let me bring this over
here to 11 o’clock bring this over to 11
o’clock right I’ll bring these two things back here in a minute I want to see my screen better
let’s go take a peek at everybody else
again I like to see a little bit of the green although I already have it drawn I still like to see it
H all right
Shadow Trader Shadow
Trader already done it pretty much completes my pre-flight
I’m ready man we’re just watching price to get a
feel for what’s happening how we levels bouncing sometimes you get here on the
pre-market and you’re like man it’s it’s violating too many levels now it’s a lower volume environment but and then
sometimes you get on here and you go wow it’s bouncing off everything so beautiful and then it continues through
the rth that
way but we are in the middle of yesterday’s value area so
we’re really nowhere in relation to yesterday so who
knows and what’s not happening we’ll talk about that as it gets closer
29 minutes to the
opening morning Joel good morning Bruce
overnight high is struggling here at that 30 minute ladder
Point yeah good morning I’m ready
you know the thing about the YouTube stream seems It’s about 10 seconds
delayed but then again we’re not really calling out trades but it’s all
good so at the beginning of this live stream you should be able to go all the way back to the beginning
and listen to the am briefing I plan on
streaming probably through the first 15 minutes of the opening and then ending the YouTube
stream
I think if I do my am briefings live it’ll even make my morning smoother and easier especially since I don’t keep
them on YouTube I I uh un I uh remove them from public view the am briefings
will just fill up the channel and like it’s hard to find anything
morning
will let’s
um okay
15 minutes to the opening so what’s not happening in this up move what’s the one thing we look for
in regards to the strength of the move and if you haven’t seen on my
YouTube channel I think there’s a really good video called strength of the move it’s definitely one of those ones I
would have on your to-do to watch list
morning Jackie
all right so let’s bring these two things on here in four minutes we’ll talk about them and then we’ll remove
them there not a whole lot to say but Monday I like to go over especially the right
one you know I really need to put on here
risk of short squeeze is high will it happen alerts will it
happen today I have no clue but we have to know that’s the environment we’re
in so we’ll go there we’ll post this in the
group not everyone can be on Zoom
so we certainly are trending up from uh the vomit we had Thursday night we’ve
gapped up we have not filled the Gap we’re continually lading up but what
is not happening on the chart we’ll talk about that here in a
couple minutes
let’s go take a peek at everybody else again okay Russell’s just hanging out at
yesterday’s high Dow securely broke the high with a
strong move north NQ Andes just hanging at
halfback slightly slanted slanting upward vops but every although Russell’s
flatlined really it’s hard to say that’s pointed up but it certainly has characteristics of lading
up so we’ll take that into consideration we’re looking for everybody to be on the same
train it’s much easier to trade when everyone’s going the same direction and the current is at your back whether it’s
small Caps or Tech or Banks you want them all going the same
direction all right two minutes we’ll talk about these two yellow boxes then we’ll get ready for trading then it’ll
be a no trade zone by time I’m going to refill my coffee and
I’ll be right back
all right delicious coffee all right let’s go over these uh Yellow Boxes then we’ll be in a no trade zone by time
first of all what’s not happening on the chart well we’re getting zero backside development that’s what’s not happening
sometimes what’s not happening is more important than what is happening what is happening we’re lading up we’re lading
up horribly but we’re lading up with zero backside development
okay Monday no news drivers PC at the end of the week and the risk of short squeeze is high as mentioned in the AM
briefing which I’m going to try to be doing on live here this week and I kind of enjoyed it freed up my morning big
time um so I might continue doing that so this next box plenty of
opportunities are about 250 trading days a year do not have to trade today you’ll
never remember what you did today good or bad you don’t need every move nor do you
need all the move we try to keep a runner back and get as much as you can I think it was last Monday I had an 80
Point Runner like sometimes that happens and then you get multiple 10p pointers through the week those Runners can make
a week one good runner can make up any loss you might have had during that week
so you’ve got to become good at getting Runners and staying in the trade once
again if you’re in my group and you’re in a trade and you want help managing your Runner please speak up hey I got
long here and then we I will try to help you stay in the trade no big
deal um in fact actually I do think that’s a big deal because once you can break the 10-point barrier you start
getting them over and over and over and it’s really delightful it is uh
a drug of choice so keep charting if you’re ever sitting on the chart and said man I haven’t looked at a 30 minute
time frame in a while maybe you’re you’re you’re getting numb you need to take a break but make sure you keep
charting all time frames at least every 30 minutes go look at a 30- minute
chart and you also have access to our 30 minute overlay so just turn that on and
you can see the 30-minute candles while you’re on a three minute chart so I encourage you to do that best loser does
win best title of a book ever definitely a top book um it it falls right in line
with us in the sense of taking the gift of break even as we see is unless you’re
with Trend it makes the most sense and keeping a runner and looking
to add to your winning trades as soon as you’re in a trade my next thing is I’m thinking okay where’s my stop how can I
move my stop up what needs to happen for me to move my stop up and where can I add to my win
where can I add to my winner so never add to losers never add to a loser I will never add to a loser never add to a
losing trade I will never add to a losing trade but we look to add to
Winners every day now 80% of the days are chop days you will not get an opportunity to add
often but we look for those opportunities the number one thing you can do is don’t add to a loser never
make things worse our core strategy consistently gives us two to 12 setups
per day if you could trade all day I get I start zoning on the screen and I’m
thinking about other things and so I know that my optimal trade time is in the morning sometimes I get a good pre
pre-market trade there’s no way I’m trading this um and then trading up to
1100 a.m. eastern works best for me trade the levels not biased although I
say the risk of short covering is high I cannot just say um it’s got to go up
it’s got to go up no it doesn’t we I mean we’ve pulled back 6% but until we’ve pulled back 10% you know
it’s kind of hard to so just trade the levels trade the current direction know where you’re at and um that’s important
if there’s a number one reason I find I found and especially in the critique my trades that people lost on a trade
either it was tested and they didn’t see that it was already tested or they went
long or short in the worst trade location for example if you go long
right here what’s the problem with that it could just be a liquidity grab pull back in but you better know that’s a
daily high it’s an rth High bad trade location to go long it’s just a bad
trade location so uh trade the levels not your bias we want clean clear crisp
Peaks and valleys in Fair Value gaps if you go uh is that a level it’s not a level it’s not a level
you should be Trading how about that if you go uh what is it is it not um it’s
probably not a level to trade or you trade at the smallest leverage possible
and if price goes against you you look for the gift of Break Even you look for um the opportunity to take a half
loss so if it’s not clean clear crisp don’t do it you really want two candle
clearance on these Mark levels and for a break level I’m going to say it needs a front side
um it needs a front side for a break level to be a break level we won’t fully
develop Peaks and valleys with backsides if there’s no backside any
level in that structure is weak you really want the backside okay because
then if you got a backside you can trade the backside the front side can bounce it in your favor if it goes against you
in the break level you got two automatic backups in most cases now I have seen backsides that to me didn’t have a clear
backup level how how would that be possible um well that’s Poss oops I have
my system set up automatically to remove that from my chart uh five minutes before the
market I’ve seen backsides without backup levels the front side was just
muddy it was yucky the the break levels already tested so yeah so and look for
opportunities to take take a half loss look for opportuni to take a half loss I love taking a half loss just because I
feel like I’m managing my trade properly and I’m looking at the first thing I
need to be looking at which is risk and it is the only thing we control I’d
rather take a half loss and it goes in the profit and I love when I take a half
loss and boy it really went against me and you’re like man that was really smart so manage the losing side of the
trade first once it becomes a winner move our stop stay behind bounce
levels and look for opportunities to add to your trade because it’s just smart morning will good morning
Paul so for those coming in the room later the am briefing this week I’m experimenting with doing it just through
a YouTube live I still post the link in the group
it’ll probably be a little bit of a longer am briefing because I’m going to do a little bit
more but 10 15 minutes get you where I think we’re
at and where we’re at is the most important question you should be able to answer and where are we at right now we
are basically at rth halfback we’re in the middle of Friday’s
range we are getting zero backside development in
this lading sequence and if it wants to do that all day I just won’t be in a trade I don’t I
I loathe this type of North price action um we gapped up we have not
filled the Gap we open there close there so there
is a gap
here I would love for price to pull down this would come to Friday’s Pock this
would come to the overnight low this would finish the Gap I would be looking for an opportunity to go long there my
backup level is the rth low and I would need to be willing to take that in my
humble opinion um and if you wanted to be greedier well you got levels below
there now this week low was done in the in the Asia session um it is not
secure rarely are lows and highs done in the overnight
session but you know what the all-time high was done in the Asia
session so that doesn’t mean we can’t go 500 points you know the other way
all right so no backside development to the
north anytime there’s no backside development I’m suspect you want to trade the greediest level and if you
don’t get in oh well you want a backup
level so we’ll see what happens on the opening I’d love to see it push down here
all right one minute to the opening here let’s go I’m ready to trade
w
all right give us a good push down I certainly wouldn’t mind going long on a push down we are
open take a peek at everybody else here real
quick good morning
Toby all right yes sir let’s go to
Essentials turn this off I’m gonna stay on a 10-minute chart here I want to see it a little bigger
[Music]
um back and forth through the opening give us a good push down come
on now you do have a strong level right there against Trend against the halfback
that could be an interesting location although it’s just right here at the opening and it’s only eight points from
the opening so I don’t know I’d rather see a bigger pullback
personally but if you’re going to take this long I would do it small always looking for opportunities to add to your
trade just because you enter the trade with one contract doesn’t mean you will finish with one
contract I still hold to the belief that the Bears are still in control
it’s theirs to lose I want a bigger pullback than this
on the opening candle personally but if you were aggressive and wanted to be long right there is
it but I’m going to wait
[Music] as I said if you took that and you uh were going to do it small you had the
halfback as a backup but it’s been I mean I like the halfback when it’s fresh
is that a fresh halfback no it’s
not and then your um stop should be behind the ladder point there and you’d want to take that
um you need to be able to trade at a leverage it you’d have taken that heat now popped back up put your stop at
break even or just behind break even and uh say let’s roll see what
happens nice bounce there much what it looks like
here and then for me personally if it’d come back against me I’d just get out wait for the next trade there’s another high probability trade right around the
corner so very
nice I’m still hoping for a deeper pullback on the opening candle there I’m
not going to take
that plenty of Trades you don’t have to be in every one of them
morning there
Casey I’m on a 10-minute chart just because I’m not going to trade anything in here so I don’t need to see the lower
level candles as we said if you were going to take a long I think taking it here
against the strong level in the halfback made sense you needed your stop needed to be
under this ladder point it popped back up your stop should be at even now or one tick you’re up Five Points so
certainly don’t allow that to become a loser if you’re long here you want it to
pop above that opening of course opening is critical let’s go take
a peek at everybody else whoa look at this look at
this so if you’re in that long be protective my dog wants to come back in
I’ll be right back
I thought she did but she’s over there on the couch dreaming okay
you’re out of that trade we’re looking at everybody else going
okay now for Russell this is a fresh level for Dal this is a fresh
level alrighty come on down you’re the next
contestant um I’m not interested in this London low either
I mean but if it if it grabbed this liquidity and started bouncing up let’s go eight points to the
Asia 15 points to there no I I want to trade down
here so more of a
push let’s go to 30- minute chart is there any uh 30 minute level there untested no there’s
not we go back to a three minute
now certainly not taking any of that as a short we’re just in the middle of yesterday’s range I just not the my my
favorite place to trade coming on down to its
halfback let’s take a peek at these guys oh Microsoft
down and Tesla reports tomorrow I think okay let’s get back to ES
like I said none of that I’m shorting I’m not longing I’m not doing anything
here all right down at a one minute all right let’s go back to a 10-minute chart I
really not interested in trading right here at yesterday’s
halfback We need he has to at least come grab some sort of pool of liquidity in my humble opinion
like I said if it took the London overnight low and started lading back up I’m on board let’s go I’m not going to
take the overnight low as a limit order
trade and I don’t recall if I say good morning to Nails make sure I’m saying good morning to you
and soil let me show you something I worked on this week and I told you about it um so I reworking the strong levels
to where and right now the indicator is called microt Traders SPX test where I
Mark the strong levels but if you’re on the X SPX
chart you can so here’s the levels as they would be on ES and then you can click no I’m on the SPX chart it adjust
them um so something I’m going to uh
watch now I have to draw the lines differently based off if you clicked the
SPX box and conditional stuff and I’m not a
programmer by by by Nature although I’m thinking of learning python um that’s
beside the point but that’ll give us these levels on the SPX so I’m curious to see how
that works
yeah if I do it the only thing I’ll happen is the levels will look different like right now the strong levels are
horizontal lines all the way across your screen in this case they’ll stop at the price um which I think is
fine fact it might even be
better so I’d like to see SPS touch a fresh strong level all of these strong
levels here are tested um except
um the first strong level that’s not tested is right here I’d like to see I’d love for so I
want to see SPX touch some fresh strong levels most of these strong levels here
are already tested they’re just sign post on the journey um they’re not
really Trad they’re more of sign post where are we and
so remember it is Monday Monday is one of the lowest probability days of the week for our system
um it’s usually chop day it’s usually it’s just not the best if you wanted to
take a three-day weekend every weekend I would rather trade Friday morning than Monday morning
personally but we’re here I’m excited to
trade I’m just not going to trade right here in the middle of yesterday’s range let’s go take a peek at everybody else
there it is Boom touching balce that’s what I’m talking that’s
beautiful beautiful fresh level fresh levels
bounce usually um I just there’s nothing here
for
me you don’t need every move and you don’t need all the move
right struggling here at this strong level and halfback
we opened we haven’t really seen the opening since let’s go look at NQ here let me
turn on my essentials indicator NQ and I want the
[Music] opening to make you a line there we
go pull that in
I want to see what NQ is doing around its opening
here was that on his YouTube I watched
it his pre pre-market perspective this morning was exactly what I said it was kind of cool I almost wish I could have
played it but I can’t but he he said exactly what I said in my am briefing
that is uh so that was cool you always like whenever just kind of like okay what I’m
seeing is about
right he articulates very well I
agree I was glad to see him come back and uh share his thoughts I enjoy his
thoughts and he uses different things than we use you know like he uses EMAs and so although I don’t do that
I let him do it for me you know does that make sense like I’m not watching
the 9 and 21 EMA on the daily chart but he is so I’ll lean you know he’s part of
my trading team that’s all you know I’m part of your trading team and y’all are
part of my trading team because sometimes I miss
things uh this is just slow bore me to death price
action not that that can’t change because boy the Titanic looked like it’s turning over here a little bit didn’t it
so we’ll see all right come on down to the overnight
low come down here overnight lower these yellow
dots we got Asian London there Friday’s Pock is here
um and then we got that opening Gap right so I’d really love to see it come
on down to here three
minutes all right well that’ll be it for YouTube uh so who ever watched thank you very much if you’re interested in
learning how we trade check us out at micr trader.com
bottle we know what that devil is the Tempest of over
Leverage come on Johnny you’re seeing the chart good go big on this
train the devil temps you every single [Music]
trade your job is tell the devil sit down and shut
up so this week I’m going to try to live stream a.m.
briefing little bit of music maybe couple
quotes maybe continue live streaming through the
[Music]
[Music] opening all
right so of course disclaimer is uh this is not investment advice this is just
some guy who’s pretty good at knowing where price bounces and pretty good at teaching others how to trade it as well
so back in the early 1900s there’s this famous ad by
Shackleton and I think it relates to Traders men
wanted hazardous Journey small wages bitter
cold long months of complete darkness constant
danger safe return doubtful honor and recognition in the event of
success well I think this is the Traders Journey as well he had something like uh 27 spots
5,000 people applied I think the percentage there is
reflective of the percentage of successful Traders as well so welcome to
the am briefing brought to you by micros Trader we’re together we trade better so
in the group last night if you’re a member this weekend I posted a few charts for you to contemplate your magic
eight ball prediction of price um I posted mine one of the things I wanted to add it add is where I put that price
might possibly bounce um is at a 10% pullback um I see us bouncing off
here first of all the low created here was in the overnight session uh that’s
going to be weak and then I see us bouncing from there coming to here and making our 10% of course this is Magic
apall it’s my two cents and that is about what it’s worth two cents all right so let’s start off with
a couple quotes here so I’m in my personal Bible study I’m in First Corinthians right now and this morning
this is exactly what I read to my wife uh you say I am allowed to do anything but not everything is good for you you
say I’m allowed to do anything but not everything is beneficial don’t be concerned with your
own good but for the good of others I like that because not everything is
beneficial not everything is good for you to me it connected to the devil in the bottle song that is over leverage
and then let’s do a mark Douglas quote I am a consistent winner because I
objectively identify my Edge for us it’s the bounce levels we have a very high probability uh
system I Define the risk of every trade so have a high probability system use
your leverage metrics I completely accept the risk and am willing to let go
of the trade once again this is leverage metrics this is knowing when you’re wrong and getting out this is taking a
half loss this is taking the gift of Break Even I act on my edges without
reservation or hesitation this is why I want you to do your end of the day charts every day that way you have the
confidence to know that you have an edge and that you should take those trades without reservation or hesitation
regardless of what I do I might be long and there’s a play to go short and you go short no nothing wrong with that I
can make money long while you make money short I pay myself as the market makes money available to me we peel off
contracts and leave a runner I continually monitor my susceptibility
for making errors know when you make a Trader error have a limit of the number
of Trader errors you’re allowed in one day and take the L and get out if you’re
making errors just stop I understand the absolute necessity of these principles for consistent success and therefore I
never violate them that’s right okay so this is a high
time frame chart I’m going to start here it’s the best place to start right it’s a Monday so we have this daily trend
line that was finally broken and then we established this higher time frame it’s yellow today because um it’s also one
hour so I made it a little higher then we went a little parabolic perhaps we’ve went a little more parabolic here and
typically when you are in a parabolic move you don’t want to counter that now
that said we are an environment where the risk of a short squeeze is high so let’s bring this in
here so we did the quote in the scripture last week uh our core our
basic core strategy had 26 winners no losers and one break even I mean six break evens Now dial down in those break
evens three of them would have been full losers if you did not take the gift of Break Even full loser if you did not
take the gift of break even so take the gift a break even where are we well we
just talked about it we’re in a parabolic down move but we’ve had six down days this puts us in the category
of risk of a short squeeze is high you must know that so if this thing decides
to go and you decide to short it adjust your leverage take the L
uh Magic eightball prediction I just gave it to you so the game plan today if you’re going to short go small leverage
what we just said know when things are turning around okay now this over this
our low here was done in the overnight session that thing is insecure it’s not
secure so I would love to see us come back down there to that in fact if you saw my eightball prediction I would like
us to go a little further down and then let’s go up but we’ll trade Trend and
trade location as it’s presented to us so your tip today is going to be please
utilize the critique my trade um had a Trader she joined for what two months
never earned a badge never posted a a critique tra critique my trade and uh
left the group and she said well everything was ripping through my levels I don’t even know if you know how to
draw the levels right I don’t even know um what trade you thought you should
have take that didn’t so please please use the critique my my trade Channel put yourself out there this is a very safe
group to put yourself out there and in fact critique my trade is 100% Anonymous I don’t know who submits
the critique my trades I did that so that you would feel comfortable just submit it who
cares so TPO chart that’s something I’m going to show you here so let’s turn this off and I want to go and I’m going
to slide this out of the way um new little feature on trading View they now have this time price opportunity it’s a
TPO chart so let’s click TPO and you’ll see it turns it into like a market
profile um time price opportunity I want to talk about one of the
differences so um when it does this I think it does it for the entire from what I can tell the entire overnight
session included including the rth and you’ll see that Pock is right here so
what I’m going to do is I’m going to put a horizontal line at the TPO
po okay now let’s go back to the candles and then I’m going to
go and use this SVP and notice where the pock is here
this is the volume Pock so two different Pock one of my members had a question
last week about this where was the volume Pock and where’s the TPO Pock so
the volume pock is the one that
um here let’s draw this here real
quick so you can see for this rth session there’s the pock so if you look
at this Top Line This is based off time well look how many candles we’re touching here is it any surprise this is
where the pock was for time but down here was
volume was volume we tend to pay attention to volume over time because to
me our levels bounce because people are defending price so therefore where the
volume is is where the most people are but I just want to show you that I thought that was a neat little feature
that trading view added all right let’s Zoom back in here
let’s turn this on
here I think about right there is
good so although we are in this double
parabolic you can see this is the second line here’s the first line um this line trend lines can be taken out one of two
ways by a distance going north here or by distance going to the right and we’re
breaking it based off time um and so I will probably end up removing this one I
don’t really need it I know where I’m at plus I have this parabolic trend line up there so I’m going to remove it so what
I’m showing you here are session highs and lows that I believe should be on your chart we’ve got the Asia overnight
low here was also the weekly low in fact I probably need to DeMark that um I need
to mark that up we have this rth low we have the Asia low the London low and what are we doing right now well we are
gradually grinding our way back up each little push down is getting bought back
up we are still within Friday’s range until we take out a daily High nothing
changes this is just Yaky to Yak this isn’t don’t come back so this is not
anything but it does have a trend line here okay we also had this Gap up and we have not filled this Gap love you it’s
my daughter um so yeah those are the session levels
that I want to make sure you have this rth and then you’ve got a few more up there uh that’s why you’d want to use
the pre-flight indicator it helps line all of those things out for you and you want to mark them the weekend is the
perfect time to clean up your chart and I hope my Traders did that now what I’ve
done to try to make things a little easier um for non-members I have been
sharing strong levels with my non-members to be honest I do it as a marketing concept uh as far as wow that
bounced wow that bounced wow that bounced and it does in fact if you go to
um my website micr trader.com here I’m going to slide this over um so this is
the price map that we’re going to look at here in a second but also if you come down here to am briefings and you wanted
to go back in time and uh look what I said in the morning versus the afternoon it’s a good place to do that so for this
price map let’s go ahead and talk about this real quick I’m going to scroll down um couple charts there for you showing
the double parabolic and it’s also here showing the strong levels so just come here and you can click this chart and it
will bring them out bigger now this is some of the strong levels it’s not all of them if you want all of them um
actually two options I’m testing out if people would be interested in our indicators uh one of those indicators is
the all of the strong levels I’m just showing you the ones immediately here periodic updates every now and then I’ll
post something uh that will appear right here live and if you click the little box it will expand that box if you want
to see it bigger so single prints make sure those are on your charts if you
were interested in a video discussion what are single prints you can watch those videos there couple VPX for you
the strong levels I’ve decided to do this instead of just writing out the levels and makes it easier news drivers
this week it is Monday we got NADA everybody’s going to be looking towards the end of the week for pce so today not
only is it Monday but it’s Monday with no news
drivers okay so all these strong levels have been thoroughly tested and hit um
the only one that hasn’t is this one right here this 5725
5725 there um that’s this is a range of you have my indicator there this is a
range and it hasn’t went to the bottom of it it bounced off the top beautifully
on that night where Israeli responded um I believe that if we get
past this strong level be careful with shorts above this could begin the short squeeze of course there’s a daily High
plus this strong level that when it finally broke this strong level that’s where it vomited when it finally broke
that strong level that’s where it vomited so above here I would start
going uh warning warning um and if you wanted put this 5325 on your chart if
you’re not in my group and set in an alarm this says when price crosses that alert me careful with shorts above
careful with shorts above all right so let’s do this now
let’s go over and check everybody else out I have not adjusted these yet so let’s adjust these together
and what this does is where is everybody in relation to their Friday
range whoa Dow is above their frid’s High
okay let’s see where NQ is it’s inside there let’s pull this
down put half back at half back and let’s put this at the
high and now e yes the
low half back and
high so now let’s kind of get these halfbacks lined up let’s get an idea of where we are all at are we all on the
same train that’s the purpose of this if you’re going to go long and
everybody’s going north it certainly gives more confidence for the trade look
at Dow my goodness and when we go to the weekly chart that’ll confirm it and look
at and look at Russell So based off
Fridays two guys are on the verge of breaking out the other two which um is
NQ and Es as you see down here um somewhere here about the
halfback H we all are trending up
from Friday’s low okay very cool inq when I want to
look at inq in more in depth so here’s the weekly chart as you can see who had
a up week last week Dow did
interesting so okay and now let’s go
to just kind of where these guys are Tesla Nvidia Apple and Microsoft there
will also be some alerts if you’re in my group that’ll be going off of when these things are hitting High time frame
bounce levels use that data as you wish none of this is investment advice but I
have have set alerts to notify us of certain actions there gold silver silver
oil and Bitcoin Bitcoin is only one on a 30 minute chart these other ones are all on
a daily chart um obviously gold has had a monster move and so something to keep
an eye on bitcoin is always of interest just a monitor ah here’s something else
so one of the things I did this weekend if you trade SPX I am working I’m I’m testing to
where the strong levels if I redo them to where you could say all right I’m on an SPX
chart adjust them for the SPX chart so you click that and then and they adjust
so watch it again I turn it off the lines will change and then SPS this is where the strong levels would be
on the XP SPX chart if you trade SPX so
it’s one of the things I’m going to watch here for the next week or two um I have to draw the lines differently see
how they come from back here and they stop at where current prices it’s just the way I’ve I’ve had to do it um they
will adjust each day based off the price difference between SPX and Es so
something I am monitoring uh to see if like
it okay so as far as the am
briefing we went over the news drivers um strong levels let’s do that real
quick I’m we’ll turn these off let’s come down here turn on my strong levels
so the small adjustment is kind of the words careful with Longs below we take
out this level uh it’s really watch out below and we’re going to get a squeeze
up to 5125 from here I don’t know but we are certainly lading up and
one of the things that my eyeballs is on as well is we gapped
up here this represents the Gap um we took back half of it those would have
represented good Longs and now we’ll see if we come back and take all of it so that’s something I’ll be watching today
um so once again I’m going to try to do the am
briefings uh live like this that way I don’t feel like I’m in a rush have a little more time I get to look at the charts for a little bit longer I’m also
probably going to stay on YouTube live probably for the first 15 minutes of the
opening and then end it so that would conclude the am briefing if you’re just watching for the am
briefing morning Mr Brooks Mr
Patrick all
right need to do a couple updates here on my website yes good morning Mr
Patrick Mr P Patrick you’re one of those ones I’m definitely encouraging
that if you feel you made a core strategy trade it didn’t go as you expected use the critique my trade is
completely Anonymous and I’ll give me all that data that I asked for there and I’ll do my best to give feedback and I
don’t even know it’s you just if you want to utilize that I think uh it’s
extremely valuable when Justin first joined the group he was posting a critique my trade every single
day and uh that really helped him good morning
all right so now the am briefing guys is
going to be I’m going to experiment this week doing it on YouTube
live so I just put the link on the trading floor go watch the first
probably 15 minutes that’s the am
briefing and then I’m probably going to continue stream streaming for 15 minutes after the opening we’ll see all right um
I got to make a couple adjustments on my
website I also want to
also going to like to go over that every Monday
throw that on right that
turn off
that I will say you dial in to a three minute chart here this price action is
is uh not very pretty um but the up moves the up candles seem
to be really aggressive so uh something to be mindful of just not
the prettiest price action but we’ll look at it again here in just a little
bit so do you want a trade Journal Patrick
I certainly don’t mind creating it so just let me know whenever you want
that or that’s today tomorrow next week whatever all I ask is that you keep up
with it you
know you know and a lot of people you if a lot of new Traders the
system do tend to revert back to some old uh
habits and um it’s one of those things that once you fully surrender to what we
do and you just do it that’s the power of doing the end of the day charts is go holy cow if i’ have
just done the core strategy holy cow if i’ have just done the core strategy if I have just done the core
strategy all right let me make Patrick
a trade
Journal Patrick Journal trying to keep these in alphabetical
order you are there my friend all I ask on that to is two things one keep it up
two keep it as close to core strategy as possible I don’t want you posting trades
or things oh the moon phases were doing this and so I did that and um I’d like to keep everyone focused on core um
because it
works all right
yeah yesterday I was experimenting with music I wanted to use uh for the am briefing my my wife was laughing because
every day is going to be something different um so trying to make that a
little more fun I don’t know or
goofy it’s okay I don’t mind putting myself out there
all right Monday
did you see it Patrick
cool cool cool you’re welcome all right um we’ll go over this
here in just a minute let more people get in the room it’s
Monday let’s get my Dom loaded
all right portion of the screen share all right I got my dom loaded now
all righty I think the most important thing
over here is what is everybody else doing I mean Dow has its overnight Pock
above Friday’s High that’s
strong let’s go drill in on a three minute
here one the things I look for in the morning is how well are the levels whoa how level the levels being respected in
both
directions yeah these up moves are fairly strong in my opinion here
um just too light of a price action to even be on a 3 minute I really like being on a
10-minute in the pre-market 10 15 minutes somewhere in there doesn’t really matter I’m usually
not trading the pre-market especially on a
Monday Mondays are good chop days and after the week we had last week
it’ll be interesting to see what happens today
turn on
alerts e
Al righty
oh yeah I was going to mark this Asia overnight
low weekly low
let me
see all right I’ll be back in a minute
and
e
e
e
e e
man I wish I could have played Shadow Trader’s news uh video for you this morning it was a dto of everything I
said this morning so it’s always fun to have another guy that you respect echoing what you’ve said it’s
always it’s just a double check for me every day when I listen to Shadow
Trader all right so what’s not happening here we’ll get more people in the room
before we really discuss
it so it is Monday Monday that cannot be
ignored and there’s no news drivers today with PC at e at the end of the
week slide this over let’s go here
better in the room no we’re
live I would certainly love a push down to the bottom of this Gap I’m going to
remove it it’s just too many colors but to know that it’s there it’s also the overnight low so
it’s real easy so I would certainly be taking a long off of
that that would be awesome if it did that actually let me bring this over
here to 11 o’clock bring this over to 11
o’clock right I’ll bring these two things back here in a minute I want to see my screen better
let’s go take a peek at everybody else
again I like to see a little bit of the green although I already have it drawn I still like to see it
H all right
Shadow Trader Shadow
Trader already done it pretty much completes my pre-flight
I’m ready man we’re just watching price to get a
feel for what’s happening how we levels bouncing sometimes you get here on the
pre-market and you’re like man it’s it’s violating too many levels now it’s a lower volume environment but and then
sometimes you get on here and you go wow it’s bouncing off everything so beautiful and then it continues through
the rth that
way but we are in the middle of yesterday’s value area so
we’re really nowhere in relation to yesterday so who
knows and what’s not happening we’ll talk about that as it gets closer
29 minutes to the
opening morning Joel good morning Bruce
overnight high is struggling here at that 30 minute ladder
Point yeah good morning I’m ready
you know the thing about the YouTube stream seems It’s about 10 seconds
delayed but then again we’re not really calling out trades but it’s all
good so at the beginning of this live stream you should be able to go all the way back to the beginning
and listen to the am briefing I plan on
streaming probably through the first 15 minutes of the opening and then ending the YouTube
stream
I think if I do my am briefings live it’ll even make my morning smoother and easier especially since I don’t keep
them on YouTube I I uh un I uh remove them from public view the am briefings
will just fill up the channel and like it’s hard to find anything
morning
will let’s
um okay
15 minutes to the opening so what’s not happening in this up move what’s the one thing we look for
in regards to the strength of the move and if you haven’t seen on my
YouTube channel I think there’s a really good video called strength of the move it’s definitely one of those ones I
would have on your to-do to watch list
morning Jackie
all right so let’s bring these two things on here in four minutes we’ll talk about them and then we’ll remove
them there not a whole lot to say but Monday I like to go over especially the right
one you know I really need to put on here
risk of short squeeze is high will it happen alerts will it
happen today I have no clue but we have to know that’s the environment we’re
in so we’ll go there we’ll post this in the
group not everyone can be on Zoom
so we certainly are trending up from uh the vomit we had Thursday night we’ve
gapped up we have not filled the Gap we’re continually lading up but what
is not happening on the chart we’ll talk about that here in a
couple minutes
let’s go take a peek at everybody else again okay Russell’s just hanging out at
yesterday’s high Dow securely broke the high with a
strong move north NQ Andes just hanging at
halfback slightly slanted slanting upward vops but every although Russell’s
flatlined really it’s hard to say that’s pointed up but it certainly has characteristics of lading
up so we’ll take that into consideration we’re looking for everybody to be on the same
train it’s much easier to trade when everyone’s going the same direction and the current is at your back whether it’s
small Caps or Tech or Banks you want them all going the same
direction all right two minutes we’ll talk about these two yellow boxes then we’ll get ready for trading then it’ll
be a no trade zone by time I’m going to refill my coffee and
I’ll be right back
all right delicious coffee all right let’s go over these uh Yellow Boxes then we’ll be in a no trade zone by time
first of all what’s not happening on the chart well we’re getting zero backside development that’s what’s not happening
sometimes what’s not happening is more important than what is happening what is happening we’re lading up we’re lading
up horribly but we’re lading up with zero backside development
okay Monday no news drivers PC at the end of the week and the risk of short squeeze is high as mentioned in the AM
briefing which I’m going to try to be doing on live here this week and I kind of enjoyed it freed up my morning big
time um so I might continue doing that so this next box plenty of
opportunities are about 250 trading days a year do not have to trade today you’ll
never remember what you did today good or bad you don’t need every move nor do you
need all the move we try to keep a runner back and get as much as you can I think it was last Monday I had an 80
Point Runner like sometimes that happens and then you get multiple 10p pointers through the week those Runners can make
a week one good runner can make up any loss you might have had during that week
so you’ve got to become good at getting Runners and staying in the trade once
again if you’re in my group and you’re in a trade and you want help managing your Runner please speak up hey I got
long here and then we I will try to help you stay in the trade no big
deal um in fact actually I do think that’s a big deal because once you can break the 10-point barrier you start
getting them over and over and over and it’s really delightful it is uh
a drug of choice so keep charting if you’re ever sitting on the chart and said man I haven’t looked at a 30 minute
time frame in a while maybe you’re you’re you’re getting numb you need to take a break but make sure you keep
charting all time frames at least every 30 minutes go look at a 30- minute
chart and you also have access to our 30 minute overlay so just turn that on and
you can see the 30-minute candles while you’re on a three minute chart so I encourage you to do that best loser does
win best title of a book ever definitely a top book um it it falls right in line
with us in the sense of taking the gift of break even as we see is unless you’re
with Trend it makes the most sense and keeping a runner and looking
to add to your winning trades as soon as you’re in a trade my next thing is I’m thinking okay where’s my stop how can I
move my stop up what needs to happen for me to move my stop up and where can I add to my win
where can I add to my winner so never add to losers never add to a loser I will never add to a loser never add to a
losing trade I will never add to a losing trade but we look to add to
Winners every day now 80% of the days are chop days you will not get an opportunity to add
often but we look for those opportunities the number one thing you can do is don’t add to a loser never
make things worse our core strategy consistently gives us two to 12 setups
per day if you could trade all day I get I start zoning on the screen and I’m
thinking about other things and so I know that my optimal trade time is in the morning sometimes I get a good pre
pre-market trade there’s no way I’m trading this um and then trading up to
1100 a.m. eastern works best for me trade the levels not biased although I
say the risk of short covering is high I cannot just say um it’s got to go up
it’s got to go up no it doesn’t we I mean we’ve pulled back 6% but until we’ve pulled back 10% you know
it’s kind of hard to so just trade the levels trade the current direction know where you’re at and um that’s important
if there’s a number one reason I find I found and especially in the critique my trades that people lost on a trade
either it was tested and they didn’t see that it was already tested or they went
long or short in the worst trade location for example if you go long
right here what’s the problem with that it could just be a liquidity grab pull back in but you better know that’s a
daily high it’s an rth High bad trade location to go long it’s just a bad
trade location so uh trade the levels not your bias we want clean clear crisp
Peaks and valleys in Fair Value gaps if you go uh is that a level it’s not a level it’s not a level
you should be Trading how about that if you go uh what is it is it not um it’s
probably not a level to trade or you trade at the smallest leverage possible
and if price goes against you you look for the gift of Break Even you look for um the opportunity to take a half
loss so if it’s not clean clear crisp don’t do it you really want two candle
clearance on these Mark levels and for a break level I’m going to say it needs a front side
um it needs a front side for a break level to be a break level we won’t fully
develop Peaks and valleys with backsides if there’s no backside any
level in that structure is weak you really want the backside okay because
then if you got a backside you can trade the backside the front side can bounce it in your favor if it goes against you
in the break level you got two automatic backups in most cases now I have seen backsides that to me didn’t have a clear
backup level how how would that be possible um well that’s Poss oops I have
my system set up automatically to remove that from my chart uh five minutes before the
market I’ve seen backsides without backup levels the front side was just
muddy it was yucky the the break levels already tested so yeah so and look for
opportunities to take take a half loss look for opportuni to take a half loss I love taking a half loss just because I
feel like I’m managing my trade properly and I’m looking at the first thing I
need to be looking at which is risk and it is the only thing we control I’d
rather take a half loss and it goes in the profit and I love when I take a half
loss and boy it really went against me and you’re like man that was really smart so manage the losing side of the
trade first once it becomes a winner move our stop stay behind bounce
levels and look for opportunities to add to your trade because it’s just smart morning will good morning
Paul so for those coming in the room later the am briefing this week I’m experimenting with doing it just through
a YouTube live I still post the link in the group
it’ll probably be a little bit of a longer am briefing because I’m going to do a little bit
more but 10 15 minutes get you where I think we’re
at and where we’re at is the most important question you should be able to answer and where are we at right now we
are basically at rth halfback we’re in the middle of Friday’s
range we are getting zero backside development in
this lading sequence and if it wants to do that all day I just won’t be in a trade I don’t I
I loathe this type of North price action um we gapped up we have not
filled the Gap we open there close there so there
is a gap
here I would love for price to pull down this would come to Friday’s Pock this
would come to the overnight low this would finish the Gap I would be looking for an opportunity to go long there my
backup level is the rth low and I would need to be willing to take that in my
humble opinion um and if you wanted to be greedier well you got levels below
there now this week low was done in the in the Asia session um it is not
secure rarely are lows and highs done in the overnight
session but you know what the all-time high was done in the Asia
session so that doesn’t mean we can’t go 500 points you know the other way
all right so no backside development to the
north anytime there’s no backside development I’m suspect you want to trade the greediest level and if you
don’t get in oh well you want a backup
level so we’ll see what happens on the opening I’d love to see it push down here
all right one minute to the opening here let’s go I’m ready to trade
w
all right give us a good push down I certainly wouldn’t mind going long on a push down we are
open take a peek at everybody else here real
quick good morning
Toby all right yes sir let’s go to
Essentials turn this off I’m gonna stay on a 10-minute chart here I want to see it a little bigger
[Music]
um back and forth through the opening give us a good push down come
on now you do have a strong level right there against Trend against the halfback
that could be an interesting location although it’s just right here at the opening and it’s only eight points from
the opening so I don’t know I’d rather see a bigger pullback
personally but if you’re going to take this long I would do it small always looking for opportunities to add to your
trade just because you enter the trade with one contract doesn’t mean you will finish with one
contract I still hold to the belief that the Bears are still in control
it’s theirs to lose I want a bigger pullback than this
on the opening candle personally but if you were aggressive and wanted to be long right there is
it but I’m going to wait
[Music] as I said if you took that and you uh were going to do it small you had the
halfback as a backup but it’s been I mean I like the halfback when it’s fresh
is that a fresh halfback no it’s
not and then your um stop should be behind the ladder point there and you’d want to take that
um you need to be able to trade at a leverage it you’d have taken that heat now popped back up put your stop at
break even or just behind break even and uh say let’s roll see what
happens nice bounce there much what it looks like
here and then for me personally if it’d come back against me I’d just get out wait for the next trade there’s another high probability trade right around the
corner so very
nice I’m still hoping for a deeper pullback on the opening candle there I’m
not going to take
that plenty of Trades you don’t have to be in every one of them
morning there
Casey I’m on a 10-minute chart just because I’m not going to trade anything in here so I don’t need to see the lower
level candles as we said if you were going to take a long I think taking it here
against the strong level in the halfback made sense you needed your stop needed to be
under this ladder point it popped back up your stop should be at even now or one tick you’re up Five Points so
certainly don’t allow that to become a loser if you’re long here you want it to
pop above that opening of course opening is critical let’s go take
a peek at everybody else whoa look at this look at
this so if you’re in that long be protective my dog wants to come back in
I’ll be right back
I thought she did but she’s over there on the couch dreaming okay
you’re out of that trade we’re looking at everybody else going
okay now for Russell this is a fresh level for Dal this is a fresh
level alrighty come on down you’re the next
contestant um I’m not interested in this London low either
I mean but if it if it grabbed this liquidity and started bouncing up let’s go eight points to the
Asia 15 points to there no I I want to trade down
here so more of a
push let’s go to 30- minute chart is there any uh 30 minute level there untested no there’s
not we go back to a three minute
now certainly not taking any of that as a short we’re just in the middle of yesterday’s range I just not the my my
favorite place to trade coming on down to its
halfback let’s take a peek at these guys oh Microsoft
down and Tesla reports tomorrow I think okay let’s get back to ES
like I said none of that I’m shorting I’m not longing I’m not doing anything
here all right down at a one minute all right let’s go back to a 10-minute chart I
really not interested in trading right here at yesterday’s
halfback We need he has to at least come grab some sort of pool of liquidity in my humble opinion
like I said if it took the London overnight low and started lading back up I’m on board let’s go I’m not going to
take the overnight low as a limit order
trade and I don’t recall if I say good morning to Nails make sure I’m saying good morning to you
and soil let me show you something I worked on this week and I told you about it um so I reworking the strong levels
to where and right now the indicator is called microt Traders SPX test where I
Mark the strong levels but if you’re on the X SPX
chart you can so here’s the levels as they would be on ES and then you can click no I’m on the SPX chart it adjust
them um so something I’m going to uh
watch now I have to draw the lines differently based off if you clicked the
SPX box and conditional stuff and I’m not a
programmer by by by Nature although I’m thinking of learning python um that’s
beside the point but that’ll give us these levels on the SPX so I’m curious to see how
that works
yeah if I do it the only thing I’ll happen is the levels will look different like right now the strong levels are
horizontal lines all the way across your screen in this case they’ll stop at the price um which I think is
fine fact it might even be
better so I’d like to see SPS touch a fresh strong level all of these strong
levels here are tested um except
um the first strong level that’s not tested is right here I’d like to see I’d love for so I
want to see SPX touch some fresh strong levels most of these strong levels here
are already tested they’re just sign post on the journey um they’re not
really Trad they’re more of sign post where are we and
so remember it is Monday Monday is one of the lowest probability days of the week for our system
um it’s usually chop day it’s usually it’s just not the best if you wanted to
take a three-day weekend every weekend I would rather trade Friday morning than Monday morning
personally but we’re here I’m excited to
trade I’m just not going to trade right here in the middle of yesterday’s range let’s go take a peek at everybody else
there it is Boom touching balce that’s what I’m talking that’s
beautiful beautiful fresh level fresh levels
bounce usually um I just there’s nothing here
for
me you don’t need every move and you don’t need all the move
right struggling here at this strong level and halfback
we opened we haven’t really seen the opening since let’s go look at NQ here let me
turn on my essentials indicator NQ and I want the
[Music] opening to make you a line there we
go pull that in
I want to see what NQ is doing around its opening
here was that on his YouTube I watched
it his pre pre-market perspective this morning was exactly what I said it was kind of cool I almost wish I could have
played it but I can’t but he he said exactly what I said in my am briefing
that is uh so that was cool you always like whenever just kind of like okay what I’m
seeing is about
right he articulates very well I
agree I was glad to see him come back and uh share his thoughts I enjoy his
thoughts and he uses different things than we use you know like he uses EMAs and so although I don’t do that
I let him do it for me you know does that make sense like I’m not watching
the 9 and 21 EMA on the daily chart but he is so I’ll lean you know he’s part of
my trading team that’s all you know I’m part of your trading team and y’all are
part of my trading team because sometimes I miss
things uh this is just slow bore me to death price
action not that that can’t change because boy the Titanic looked like it’s turning over here a little bit didn’t it
so we’ll see all right come on down to the overnight
low come down here overnight lower these yellow
dots we got Asian London there Friday’s Pock is here
um and then we got that opening Gap right so I’d really love to see it come
on down to here three
minutes all right well that’ll be it for YouTube uh so who ever watched thank you very much if you’re interested in
learning how we trade check us out at micr trader.com
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