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Mentor Mike’s Market Movie for 2/14/12

14 Feb Posted by in Mentor Mike's Market Movie | Comments Off on Mentor Mike’s Market Movie for 2/14/12
Mentor Mike’s Market Movie for 2/14/12
 

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.

Replay results can differ from the outcomes of my regular trading for several reasons.  Although I have already watched the market’s moves in real-time, I have also watched the S&P almost daily since its launch in 1997.  So, my general knowledge of the market’s tendencies is more of a factor during replay than my memory of the details of any specific day, no matter how recent.  Plus, when I trade in real-time I have the benefit of not only a slower pace, but also my Elliott Wave count and Delta turning points.  When I speed up the data thirty times, I’m using only the most important technical signals.  My proprietary “peeling-off” strategy includes keeping my trailing stop contiguous with the Parabolic SAR set to my special Fibonacci parameters.  I can’t always trail the stop fast enough to keep up with the accelerated data feed so my replay stopouts can be worse than in my regular trading.  However, despite the differences, this replay will give you a good idea of what is possible in actual day trading.  Just think, if you learn to spot the trades at replay speed,  imagine what you could do in real-time.

Suggestions Welcome 

So far, the comments on my new Market Movies have been uniformly positive, and I sincerely appreciate the suggestions for improvement that I am attempting to implement.  Here are two: 1) the video can now be viewed in full size, and 2) I have thickened the Parabolic SAR line so it is more visible.  Please send any additional questions, comments or suggestions to me at mentormike@sbcglobal.net.  Many thanks.

Today’s Replay Scoreboard

ES: 9 wins / 2 losses – $1,100.00 net

 

Click the play button to watch the video. Enjoy

Mentor Mike's Market Movie

 

 

Webinar Encore

I will be giving an encore presentation of my most recent webinar, “GO FOR THE GOLD” this Saturday, 2/18/12, at 9am PST.  Attendees will receive a free copy of the most recent version of my “Go for the Gold” chart template for Ninja Trader 7.

Today’s Chart

The trades shown here were taken during my regular, real-time trading.  Please click on the chart below to make it larger.
Chart #1
Today’s 1-minute ES chart