Thu AM Briefing Preparing For Our Emini Trading Room 10/10/2024

Preparing ES & NQ Traders
For Our Emini and Micros Futures Trading Room


The morning's briefing for ES MES futures traders emphasized patience, as 95% of trading time is spent waiting for the right opportunities. Highlighting yesterday's success by a trader named Jackie, the group stressed that it’s fine to take things slow, especially during volatile periods like today's CPI release. The briefing humorously introduced a game show mocking common trader mistakes while urging caution as markets approach all-time highs. With the CPI looming large, traders are advised to trade small or sit out, as volatility is expected to increase ahead of the election year. RESOURCES:
            
▶️ ES Price Map (Single Prints, VPOCS, News Drivers,...)      
▶️Youtube Community Updates             
▶️ Website for ES MES Trading Room (Back Up)


TRANSCRIPT:

Welcome ES MES Futures Traders

Good morning, everyone! Welcome to CPI Day! Here’s a quote to start us off: “When the time is right, I, the Lord, will make it happen.” Everything happens in God’s time, not man’s time. This principle applies to trading, too. Most of the time, we are waiting for that perfect trade. In fact, about 95% of the time, traders are just waiting for the right opportunity—unless you were Jackie yesterday with that 60-point gain and stayed in the trade all day. Congratulations, Jackie! Great day!

Let’s get into it. Welcome to the AM briefing number 279, brought to you by MicrosTrader.com, where together we trade better. Remember, there’s always another high-probability trade around the corner. For your convenience, there are timestamps below and archives available on the website. If you become a member, make sure to earn your badges. In fact, the training aspect of our group is changing, starting today. I’ll post another video on that soon, but earning your badges remains essential. Check us out, grab a Zoom pass, or join us on Tuesday when we stream live in the morning.

If you like what we do, please like, subscribe, and consider becoming a Tip of The Day member.

Tip of the Day

There are 52 weeks in a year, and it’s perfectly okay if you don’t trade this week. It’s also okay if you aim to gain just a single point every day. For those in prop firms, remember, it’s common for firms to release resets after a major market move like we saw yesterday. So if you’re having a small green week, that’s still a win!

Schedule

Today’s schedule starts one hour before the market opens with the CPI candle, and we’ll be live in the group to observe it. Depending on how things unfold, we may or may not hold the “Best Loser Wins” mental training session. We’re likely to do it, but it might be delayed. Ten minutes before the market opens, we’ll review the day’s reminder and update any necessary levels. By 8:11 AM, I’ll hopefully be managing my runner. But if not, I’ll likely be done for the day—unless a good trade presents itself, then I’m prepared to stream all day. After all, it’s CPI day.

America's Favorite Game Show: Trap the Trader

Now it’s time for America’s favorite game show, Trap the Trader! Today’s categories include:

  • Overleveraging
  • Revenge Trading
  • Blowing Your Account
  • Loving Resets
  • F.A.F.O.

Let’s meet our contestants:

  • Johnny “I Just Have to Trade Every Day” Johnson
  • Sam “Never Saw a Short I Didn’t Like” Stevens
  • Malcolm “Make Matters Worse” Montgomery
  • Rusty “Fresh 10 Set of Accounts” Roberts
  • Freddy FOMO Frederickson

And our returning champion, Patrick “Predict Price” Patterson! Remember, it’s all fun and games until the market opens. Don’t become a victim of Trap the Trader!

News Drivers

Now, onto the news drivers. One hour before the market opens, we’ll have the CPI release—that’s all that matters. Today and tomorrow are Level 10 Trading days, and it’s probably best not to even open your DOM (depth of market); just watch the price action. If you do trade, trade small. Yesterday, we missed a key level by just one point, which confirmed a strong support line. There were excellent opportunities to trade around this level, but the play was “long or flat,” and that’s exactly how it unfolded.

Jackie capitalized on this with a high-time frame level trade that lasted all day and hit a phenomenal exit point. Overnight, not much has changed, but that’s expected—today’s CPI report is likely to shake things up. We’re at all-time highs, and with the upcoming election year, expect more volatility.

More ATH Inbound

Are we at the top end of this move? There’s no way to be sure. Can it keep going? The answer is yes. Stay green, my friends, and to learn more about our group, visit MicrosTrader.com.

MORE INFORMATION:

Website: MicrosTrader.com
YouTube: MicrosTrader YouTube





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