Fri AM Briefing Preparing For Our Emini Trading Room 05/17/2024
ES Price Map (Single Prints, VPOCS, News Drivers,...)
Website for ES MES Trading Room (Back Up)
TRANSCRIPT: Welcome to the AM Briefing video presented by MicroTrader.com, where together we trade better. Good morning, everybody. Happy OpEx Friday! Better hang on—OpEx Friday. [Music] The devil is prowling, and he loves OpEx Friday. 'You will seek me and find me when you seek me with all of your heart.' You know, I try to relate most things to trading—duh. And you know what? Whatever you seek with all of your heart, all of your mind, you shall find. Seek trading, seek the excellence of trading with all of your heart, all of your mind. Love what is good, hate what is evil. What's evil? Guessing where the price is going to go, making a 'George' trade. There's one reason this group is called Micros Trader and not George Trader. 'Cuz George stinks, but the core strategy rocks. So, love what is good. Seek with all of your heart, all of your mind excellence in trading. [Music] Yeah, alright! I love that music. Alright, let's move on. So what's the most important thing today? It's Friday. Friday rules: Do not give your week back. Some ideas—trade with a smaller daily stop loss. If your daily stop loss is $300, maybe today you make it $100. Maybe you say, 'If I have one loss, I'm done today.' Or take a percentage of your weekly profit and only bet 10-20% of that. Go into the weekend a winner. Do not give your week back; don't do that to yourself. You want excellence in trading? Go into the weekend a winner, and realize it is OpEx Friday. Squirly, squirly, squirly price action today, most likely. Alright, so welcome to the AM briefing brought to you by Micros Trader. We're truly together; we trade better. I absolutely love our group. Yesterday, I had to go ask some questions in another prop firm Discord group, and I'm going to be honest, what a cesspool of a Discord group. I actually had to leave the server. I was like, 'I'm out. I cannot handle rude, cocky behavior.' I'm not going to say which prop firm it was, but just wow. I can't believe people want to act like this. Well, I'll tell you, people in our group have told me from time to time that our Micros Trader group is the kind group, it's the nice group, it's the calm group, um, because I won't allow it to be any other way. Life is too short to deal with people who drain your energy. So, yesterday, in our core strategy, was a banner day. Our core strategy gave you 10 out of 10 trades yesterday. I did not take 10 trades; I took one trade right here, this one short. I made 23 ES points by trading a handful of micros in six accounts—that's not one account, that's six accounts. But when you add them all up, it was 23 ES points. It is really amazing how powerful micros can be. You don't have to trade the minis to do really, really well. Okay, so this week has been all smalls and all honesty for me, and then yesterday became the banner day. How much of that do you think I'm going to give back today? Hardly any of that; not going to be willing to give back today. It is OpEx Friday. Alright, so where are we? Well, I think this is the best view here. You can see the all-time high up here. Let me move this favorites bar. So, made a new all-time high in the RTH session, which was great. When we did the AM briefing yesterday, I said that's going to be the likely target, uh, because usually the all-time highs or all-time lows are not done in the overnight session. However, the previous all-time high was done in the Asia session, and we eventually marched right back up there and took it. This was beautiful price action here and had a delightful short. Now it's funny when I recorded that video last night, my stop was literally right here. It literally got me to the tick and then did another nice flush down. So I'm like, 'Are you kidding me?' It happens, um, but in that trade, at one point, it was 20 points in the profit. I had my stop at 10 points in the profit. I think having a 10-point buffer there is about as much as I'm willing to take, and so it is what it is. So, bull bear line here at 5309. I was hoping this would have gotten there. If you watch that video, you know that was my target. Didn't quite happen. And be careful with longs below 533 um, so that will be an interesting good time if we end up getting down there. Alright, so what is today's tip of the week? Don't come into today with bias. Do not come in today with, 'Oh, we're going to flush this thing down. I just know we are.' And every pushup you're shorting, and you quickly don't see that we're laddering up, and there's a beautiful trend line north, and then we went parabolic, and you're still shorting. Please don't come into OpEx Friday with any assumption other than complex chop, irrational price behavior. Put on your chart if you have to. Come in and use your text tool. Put in 'OpEx Friday,' yellow background, black writing, and stick this on your chart where you have to continually move it out of the way because you need to remember it is OpEx Friday all day long. Boy, if there's a day to dial down, it's today. There's a day to go fishing instead of trading, it's today. There's a day to go drive some golf balls, it's today. You don't have to trade today just because you're a day trader doesn't mean you trade every day. So, what's the news drivers today? Nada. We're still in the CPI Wednesday, Thursday, Friday—great days to not trade. Yesterday was real easy to read, which is not always true; it's higher risk for sure, um, but there's really nothing going on today. And by the way, there's like nothing next week also. Alright, so let's now go, well, first of all, what's happened overnight, and then we're going to go look at all the indices. Well, here's yesterday's RTH. We're hanging right here, and under the low, and right now, we're just hanging right here at the low. It's like the Bulls are going, 'No, I don't want to let go. I don't want to let go.' Alright, so now let's go look at everybody else. Where is everybody else? Well, you can see we're all hanging about the same spot. So are we all on the same train? Yeah. Where is that train going? Nowhere. It's sitting at the station; it's going nowhere. And that's oh, okay. So what is our game plan today? Our game plan today is to realize all day long, it's OpEx Friday. That's your game plan today. Know that you should be trading small. Friday rules are in full force, times two. Friday rules in force, times two. So guys, I wish you good luck trading today. If you'd like to learn how we trade these levels, check us out at MicroTrader.com. Stay green, my friends, and to learn more about our group, go to MicroTrader.com.
Website for ES MES Trading Room (Back Up)
TRANSCRIPT: Welcome to the AM Briefing video presented by MicroTrader.com, where together we trade better. Good morning, everybody. Happy OpEx Friday! Better hang on—OpEx Friday. [Music] The devil is prowling, and he loves OpEx Friday. 'You will seek me and find me when you seek me with all of your heart.' You know, I try to relate most things to trading—duh. And you know what? Whatever you seek with all of your heart, all of your mind, you shall find. Seek trading, seek the excellence of trading with all of your heart, all of your mind. Love what is good, hate what is evil. What's evil? Guessing where the price is going to go, making a 'George' trade. There's one reason this group is called Micros Trader and not George Trader. 'Cuz George stinks, but the core strategy rocks. So, love what is good. Seek with all of your heart, all of your mind excellence in trading. [Music] Yeah, alright! I love that music. Alright, let's move on. So what's the most important thing today? It's Friday. Friday rules: Do not give your week back. Some ideas—trade with a smaller daily stop loss. If your daily stop loss is $300, maybe today you make it $100. Maybe you say, 'If I have one loss, I'm done today.' Or take a percentage of your weekly profit and only bet 10-20% of that. Go into the weekend a winner. Do not give your week back; don't do that to yourself. You want excellence in trading? Go into the weekend a winner, and realize it is OpEx Friday. Squirly, squirly, squirly price action today, most likely. Alright, so welcome to the AM briefing brought to you by Micros Trader. We're truly together; we trade better. I absolutely love our group. Yesterday, I had to go ask some questions in another prop firm Discord group, and I'm going to be honest, what a cesspool of a Discord group. I actually had to leave the server. I was like, 'I'm out. I cannot handle rude, cocky behavior.' I'm not going to say which prop firm it was, but just wow. I can't believe people want to act like this. Well, I'll tell you, people in our group have told me from time to time that our Micros Trader group is the kind group, it's the nice group, it's the calm group, um, because I won't allow it to be any other way. Life is too short to deal with people who drain your energy. So, yesterday, in our core strategy, was a banner day. Our core strategy gave you 10 out of 10 trades yesterday. I did not take 10 trades; I took one trade right here, this one short. I made 23 ES points by trading a handful of micros in six accounts—that's not one account, that's six accounts. But when you add them all up, it was 23 ES points. It is really amazing how powerful micros can be. You don't have to trade the minis to do really, really well. Okay, so this week has been all smalls and all honesty for me, and then yesterday became the banner day. How much of that do you think I'm going to give back today? Hardly any of that; not going to be willing to give back today. It is OpEx Friday. Alright, so where are we? Well, I think this is the best view here. You can see the all-time high up here. Let me move this favorites bar. So, made a new all-time high in the RTH session, which was great. When we did the AM briefing yesterday, I said that's going to be the likely target, uh, because usually the all-time highs or all-time lows are not done in the overnight session. However, the previous all-time high was done in the Asia session, and we eventually marched right back up there and took it. This was beautiful price action here and had a delightful short. Now it's funny when I recorded that video last night, my stop was literally right here. It literally got me to the tick and then did another nice flush down. So I'm like, 'Are you kidding me?' It happens, um, but in that trade, at one point, it was 20 points in the profit. I had my stop at 10 points in the profit. I think having a 10-point buffer there is about as much as I'm willing to take, and so it is what it is. So, bull bear line here at 5309. I was hoping this would have gotten there. If you watch that video, you know that was my target. Didn't quite happen. And be careful with longs below 533 um, so that will be an interesting good time if we end up getting down there. Alright, so what is today's tip of the week? Don't come into today with bias. Do not come in today with, 'Oh, we're going to flush this thing down. I just know we are.' And every pushup you're shorting, and you quickly don't see that we're laddering up, and there's a beautiful trend line north, and then we went parabolic, and you're still shorting. Please don't come into OpEx Friday with any assumption other than complex chop, irrational price behavior. Put on your chart if you have to. Come in and use your text tool. Put in 'OpEx Friday,' yellow background, black writing, and stick this on your chart where you have to continually move it out of the way because you need to remember it is OpEx Friday all day long. Boy, if there's a day to dial down, it's today. There's a day to go fishing instead of trading, it's today. There's a day to go drive some golf balls, it's today. You don't have to trade today just because you're a day trader doesn't mean you trade every day. So, what's the news drivers today? Nada. We're still in the CPI Wednesday, Thursday, Friday—great days to not trade. Yesterday was real easy to read, which is not always true; it's higher risk for sure, um, but there's really nothing going on today. And by the way, there's like nothing next week also. Alright, so let's now go, well, first of all, what's happened overnight, and then we're going to go look at all the indices. Well, here's yesterday's RTH. We're hanging right here, and under the low, and right now, we're just hanging right here at the low. It's like the Bulls are going, 'No, I don't want to let go. I don't want to let go.' Alright, so now let's go look at everybody else. Where is everybody else? Well, you can see we're all hanging about the same spot. So are we all on the same train? Yeah. Where is that train going? Nowhere. It's sitting at the station; it's going nowhere. And that's oh, okay. So what is our game plan today? Our game plan today is to realize all day long, it's OpEx Friday. That's your game plan today. Know that you should be trading small. Friday rules are in full force, times two. Friday rules in force, times two. So guys, I wish you good luck trading today. If you'd like to learn how we trade these levels, check us out at MicroTrader.com. Stay green, my friends, and to learn more about our group, go to MicroTrader.com.
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