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“M4” for the week ending Saturday, 10/20/12

“M4” for the week ending Saturday, 10/20/12
 

 

In Mentor Mike’s Market Movies I re-trade about 8 hours of market movement in the S&P Emini in 20 to 30 minutes. When I see a trade setup, I pause the accelerated data feed, identify the entry signals and place the trade on Ninja Trader’s demo platform. Then, I restart the data feed and see how the trade plays out, win or lose.

In this weekly version of M4, I start with a quick review of the charts for each day of the week. Then, I follow up with an in-depth replay of the one day I feel has the most talking points.  I use a 3-target, 9-contract, peeling-off strategy.

Got questions, comments, suggestions or critiques? Send me an email to mentormike@sbcglobal.net.

REGISTER FOR NEW WEBINAR

POSITION TRADING VS. DAY TRADING: Pros & Cons and, SPY  VS. ES: Pros & Cons

“Mentor” Mike Bridges watches and trades the S&P Emini about 8 hours a day because he enjoys it and he can.  As a result, he gets low margins and high volume and volatility.  In Mike’s opinion, day trading the ES give one the opportunity to make the most amount profit in the least amount of time and with the least amount of starting capital.

BUT. . .

What if you can’t trade during the day?  What if you don’t like, don’t understand, or can’t trade futures?  What if you hate the idea of being “chained” to
a computer for hours?

Join Mike at 1:30 pm Pacific time on Wednesday, 10/24/12, as he examines the pros and cons of day trading versus position trading and the pros and cons of trading a stock index future like the ES versus its ETF/Index-Tracking Stock equivalent, SPY.

Register here: https://www3.gotomeeting.com/register/573409398

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Mentor Mike's Market  Movie

This Week’s Charts

The trades shown were taken during my regular, real-time trading. Please click on a chart below to make it larger.

Monday

Chart #1

 

Tuesday

Chart #1

 

Wednesday

Chart #1

 

Thursday

Chart #1

 

Friday

Chart #1

 

Daily Turning Points for the Week

Chart #1

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