Thu AM Briefing Preparing For Our Emini Trading Room 10/24/2024

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



In an early morning briefing for ES MES Futures traders, the group was encouraged to focus on trend trading, avoiding risky counter moves. A free "Foundations Course" was announced to help traders grasp key strategies like risk management and market analysis. Key economic indicators for the day include unemployment claims and PMI data, which could impact trading decisions. Traders were reminded to stick to disciplined strategies in the bullish market environment, especially in the wake of recent market volatility. RESOURCES:
            
▶️ Membership Options      
▶️Youtube Community Updates             
▶️ Website for ES MES Trading Room (Back Up)


TRANSCRIPT:

Welcome ES MES Futures Traders

Good morning, everyone! Welcome to the early AM briefing. I was up early this morning managing my trade and I'm really excited about today.

Today's Quote

This is a monthly reminder for husbands to love their wives. I know you don't need to be reminded, but your wife does things for you that no one else can. So, husbands, love your wives just as Christ loved the church and died for it. Love that woman—make her feel safe, precious, valued, and loved. There is no better investment. It's not a scalp trade; it's a long-term trade.

AM Briefing

Welcome to the AM briefing brought to you by MicrosTrader.com—where we trade better together. It's absolutely true: there's always another high-probability trade around the corner when using our core strategy. We are the ES MES Futures Trading Room. If you're interested in joining a small, close-knit group of traders who trade the same charts and look for the same trades, check us out at MicrosTrader.com.

Tip of the Day: Trend Days

This is an important tip for trend days: never make things worse. You can counter the bounces—either you're with the trend (which is the easier trade) or you're countering and playing the bounces. Both are valid, but the key is not to make things worse. For every counter-trade, expect either a loss or break-even. If you win, it's because you got lucky and timed it perfectly. Counter-trading is a bit like rolling the dice; some might say it’s more like Russian Roulette. You might get lucky or you might blow your brains out. So be cautious when countering.

Foundations Course

We’re releasing a Foundations Course, which is a free resource to help you understand how we think and trade. You can find the course on MicrosTrader.com. Once you sign up, you’ll be directed to our new academy website where all the training is hosted. If you haven’t received your login for the Core Strategy Academy, this is where it lives now.

One of the first steps in the Foundations Course is taking the Day Traders Pledge. This pledge is the cornerstone of trading discipline. You can print it out, recite it, and make it part of your routine. By registering for the free course, you’ll also get access to bonus videos that haven't been released yet. However, if you'd prefer not to register, you can still access the training for free.

The course covers several topics, including risk management, understanding the S&P contract, and making trading easier. We’ve included both video and audio content, such as lessons on the importance of daily loss limits, trade sizing, and more. The course is just launching, so more content will be added soon.

YouTube Live & Zoom Passes

Our next YouTube live session will be on Tuesday. You can also join us via Zoom with either a day pass or week pass for an insider's look at how we trade. We’ll be live about 15 minutes before the market opens, sharing updates and reminders. If I decide to jump on earlier, I’ll notify the members.

News Drivers Today

Today’s key events:

  • 1 hour before the market opens: Unemployment claims
  • 15 minutes after the opening: PMI data
  • Yesterday’s Beige Book release

Yesterday's Review

Yesterday, I mentioned in our group that after a period of “chop” (low volatility), a massive move was coming. That’s exactly what we got on Wednesday. We had drawn a primary trendline earlier in the week, and after hitting parabolic levels, I warned our group not to counter-trade it unless they were very cautious.

I also shared all my trades with the group, discussing each entry. While I missed capturing the entire move, I still took 50% of it, which worked out well. As the market went parabolic, I took several long positions at key bounce points. Knowing where price is likely to bounce is critical, and we focus heavily on that in our group.

Key Trading Insights

It’s important to understand that great bears know where the bulls are, and vice versa. As the leader of the group, I emphasize this to help traders anticipate market behavior. Currently, we’re riding a bullish move with short covering. Remember: don’t counter short-covering moves unless you're prepared for the potential risks.

Bull-Bear Scorecard

Looking at today’s market indicators:

  • Bull-Bear Line: Bulls
  • Session Stacking: Bulls
  • VWAP: Bulls
  • Overnight Halfback: Bulls
  • Yesterday’s Range: Bulls
  • Indices: Bulls
  • Risk of Short Covering: Bulls

The message is clear: be cautious when countering this move.

Stay Green!

If you want to get access to the Foundations Course or join our trading group, head over to MicrosTrader.com. Stay green, my friends, and trade smart!

MORE INFORMATION:

Website: https://MicrosTrader.com
YouTube: https://www.youtube.com/@microstrader



ADDITIONAL LINKS:





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