Sun AM Briefing Preparing For Our Emini Trading Room 11/03/2024

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



In an early-morning briefing, a futures trader shared insights and advice ahead of a volatile week with events like the FOMC meeting and the election. Emphasizing caution, he advised traders to scale back or avoid trading entirely if they’re uncertain. He also highlighted Friday’s successful trades and unique group dynamics where traders support one another even in opposing positions. For those looking to improve, he recommended a free foundations course, especially valuable for those navigating the ever-changing markets. RESOURCES:
            
▶️ Membership Options      
▶️Youtube Community Updates             
▶️ Website for ES MES Trading Room (Back Up)


TRANSCRIPT:

Weekend Briefing: Insights and Trading Updates

Good morning, everyone! Today is a bit unusual as I'm up early for a Sunday, thanks to the time change. My lovely wife is still sleeping, so I thought, why not start the day with a weekend briefing? Welcome to what I'm officially calling the "Weekend Briefing." I've tried a few names, but this seems to fit, given we also do briefings during the week. Sometimes, simplicity is best.

Shoutouts and Top Performers

This week, I want to give a big shoutout to our top achievers in the 10-point club. While Caleb didn’t record his points in the Discord this week, I'm sure he hit impressive numbers, possibly even a 30-pointer! Jackie also logged a solid 20-pointer, so congrats to both for a stellar week. Personally, I scored a "hat trick" on Friday—three trades each capturing at least 10 points. I’ll share those trades with you shortly.

Tip of the Weekend: "When in Doubt, Stay Out"

With this week bringing the election and an FOMC meeting, the markets could be volatile. My advice? If you’re uncertain, consider sitting out. Alternatively, use just one micro contract and limit yourself to small, manageable losses. If you’re unsure who’s in control of the market based on your charts, it’s probably best to avoid trading. This advice applies not just this week, but all the time.

Weekend Homework Suggestions

For those of you doing some weekend analysis, here are a few homework suggestions. Seasonality trends indicate an upward movement as we approach the year’s end. However, given this has been an extraordinary year with multiple record-breaking days, take this with a grain of salt. It’s like reading the Farmer’s Almanac: not always precise but fun to consider.

Key Market Drivers

Our primary focus for next week will be the election and the FOMC. As the week progresses, volatility may increase, especially with the CPI report coming up. We’ll be trading live each day, but remember the advice: if you’re in doubt, stay out.

Friday's Trading Highlights and Key Chart Levels

On Friday, I managed three notable trades, capturing 10, 20, and 10 points, respectively. One of the highlights was a moment where both Caleb and I were in opposite positions. I went long, while Caleb held his short position, demonstrating the flexibility of our system. It’s rewarding to see traders supporting each other, even when our trades take different directions.

For those curious about chart setups, I’ll briefly walk through my approach. I use a variety of indicators, including session levels, volume imbalances, and fair value gaps, to ensure our charts are ready for the week. As we head into Monday, I’ll be updating these levels to reflect the latest market moves. These key levels are invaluable for navigating the price action and can provide a clearer path for the week ahead.

If you’re interested in refining your skills, consider joining the TradingView Leap challenge this week. It's a great way to practice and try out different trading instruments.

Final Notes

If you’re keen on enhancing your trading knowledge, check out my free Foundations Course. It’s a great resource for both seasoned traders and beginners. Plus, for the month of November, you get a free Zoom pass to join our group sessions.

MORE INFORMATION:

Website: https://MicrosTrader.com
YouTube: https://www.youtube.com/@microstrader
Free Foundations Course: https://academy.microstrader.com/foundations-dashboard/

SUMMARY:

  • ✅ Weekend Briefing: The briefing covers top performers and key market insights for the coming week, especially with upcoming events like the election and FOMC meeting.
  • ✅ Trading Advice: This week’s tip emphasizes caution—"When in doubt, stay out"—especially given potential market volatility.
  • ✅ Key Chart Levels: Important chart levels are identified to guide trades, using tools like fair value gaps and volume imbalances.
  • ✅ Friday’s Trades: Highlighting successful trades and showcasing flexibility within our trading group as traders manage both long and short positions.
  • ✅ Free Foundations Course: Recommended for traders looking to sharpen their skills, with additional free Zoom sessions available in November.


ADDITIONAL LINKS:





Comments

Post a Comment

Popular posts from this blog

ES Emini Futures Strategy: Daily Loss Limit and Leverage

Image
  TRANSCRIPT: Okay let's talk about trading futures contracts. On the SNP. In regards to your daily loss limit and your leverage how do those things relate? Well we need to know three things I need to know your daily loss limit. How many trades you're willing to take as a loss. And what is your stop loss? Those are the three things. You need to know. In fact let me make a little note here. Three things you must know. This is what is your daily loss limit…That's. for everybody. What's your stop loss…And the home mini. Trades are you willing…to lose with these three numbers We can determine exactly how you should trade. And we're going to talk about three scenarios with number three My favorite. So let's say you were willing to take a 300. Dollar daily loss limit. You're willing to take three losing trades and you have a strict six point stop-loss. Now all we have to do with some math. Well one MES. If we're going to lose six points, you're going to...
Read more

Core ES Emini | MES Micro Scalping Training Strategy

Image
 South of Texas Motor Speedway Thursday, 8:37 a.m. Welcome to Micros Trader. This is an online community of futures traders who scalp the S&P MES/ES futures. I have no clue how you found this site but this could possibly, maybe, change your life. Trading is HARD. It is! But, we are here to make it simple. Give me ONE month and you will stay in our little group for a lifetime. Trading with a group of professionals with the same goals with the same trading system is delightful and refreshing. We have an active Discord Group and we Zoom each AM from Market Open to Noon EST charting, trading, and supporting each other.  NOTE: If you don't have a Discord account, you will want to create one. It is kinda like facebook groups, if you have facebook. It is our own little group where we interact, ask questions, post pictures, have contests (like the 20 point club, the 30 point club, ...), post our wins, exchange ideas, grow, share, and help each other. We are a community of professi...
Read more

ES Futures Trading Strategy

Image
Youtube Channel I: Youtube Channel II:  Welcome to Micros Trader.  As a trading group we analyze ES price action live via zoom each morning, from Market Open Til New York Lunch, looking for the same… predictable… 3-5 trade set ups. We typically get 30-45 set ups a week with a 90%+ win rate - your mileage may vary significantly and in no way is this a promise - it is past results we have experienced personally.  We draw horizontal bounce lines. We play the bounces off those lines, looking for multiple confluences that gives the levels extra bounce power. Before entering a trade we analyze the price action, and lett trend dictate our leverage. We tend to favor trades with the trend but we do extremely well in chop too - with much lower leverage of course.  Our core trading strategy for scalping S&P Futures…. is a blend of techniques taught by Cotton Candy TA, ICT, and Market Profile Auction Principles. These principles coupled with years of reading ES price acti...
Read more