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.

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

Replay Scoreboard — Final Results for June — FAQ

Today we traded 343 contracts of the ES 9-12 for 7 wins / 0 losses, and +$104,012.50 net; cumulative for June: $444,912.50.  On June 1st we started with 3 contracts and throughout the month we added a contract for each $1,000 of profit earned.  The final outcome is shown above.  It is only natural to be skeptical about these amazing results, so permit me to answer some Frequently Asked Questions.

Q: Aren’t these results only possible because you already know what the market is going to do?

A: At some level I may recall a particular move if it was especially memorable, but I am still placing trades based upon the technical signals that I see on the chart at the time.  The vast majority of the replay trades are exactly the same as the trades taken during the day in real time.

Q: Can the ES market actually handle such large orders?

A: Yes.  The largest block order I recall seeing on a live Time & Sales chart was 650 contracts.  Large orders can result in “split fills” – where part of the order is filled at one price and the rest at a different price.  But, we were well within the market’s order capacity.

Q: Are there traders out there who are really making this kind of money?

A: I have participated in several nation-wide trading contests.  I believe the typical contest results are a micro-version of the entire trading world.  In one month-long contest, about 1,100 traders each started with $50K; there were 6 different markets that could be traded; and, trading could be done around the clock during the week.  At the end approximately 80% lost money and 20% made money.  Within the winning 20% there was an enormous range.  I day traded the ES as I normally do and doubled my starting capital.  This put me just about in the middle of the winning pack, around the top 90% of traders.  At the bottom of the winners were people who just barely made it above breakeven.   But at the very top, there were several traders (possibly teams of traders, actually) who had multiplied their capital nearly 100 times!  I’m not even sure how they were able to do it, but they did.  Once a trader possesses the basic skills, it’s just a matter of slowly ramping up to the maximum limits of one’s personal comfort zone.

Q: How realistic is it for a beginning trader to aspire to this kind of result?

A: A motivated student can easily learn the basic skill set in 12 weeks.  If you maintain good discipline, you should be able to trade profitably after that.  There is no denying that personal experience is a factor.  The mentors share their experiences with their students to the best of their abilities.  But some things can only be learned through the student’s own first hand experience and that takes time.  If results like these seem like an unrealistic goal, cut them in half.  Still too much?  How about a third?  A tenth?  How about 1/100th?  Could you earn 1% of these reults in real time?  That’s still about $4,450.00 in a single month and an extra $53K+ in a year.  I know I can teach you to do that.  So why aren’t you my student?

Special Announcements: Vacation — Mentor Mike’s Retirement — Price Increase in 2013 — Graduates-Only Trading Room

I will be on vacation in Alaska and the Yukon Territory for the next two weeks, so this will be my last blog post and possibly my very last blog post.  Doing these movies every day is a lot of work and I’m not getting enough new students to justify the effort.  If I don’t get at least six new students by the end of August, I may just retire from mentoring.  If so, I might open a trading room for fellow day traders of the ES.  Membership will be restricted to graduates of my course.  Even if I decide to continue mentoring, I will probably double my course tuition in 2013.  I need to confine my inner circle to serious traders and weed out the “looky-loos.”  So, if you have enjoyed this blog and have been trying to decide if you should take the course, the time to act is now.  Call Pacific Trading and tell them you want to work with me or forever wish you did.

Webinar Links

To give my current students something to do while I’m climbing glaciers and mushing in my dog sled, here are links to several of my most recent webinsars.  As I used to say to my  kids when I dropped them off at school, “Have fun!  Learn things!”

How to Use Predictable, Recurring Turning Points for
Reliable Daytrading by Mike Bridges 06/18/2011

http://ptausa.wistia.com/m/fK1fTg

Technical Analysis by Mike Bridges 09/14/2011

http://ptausa.wistia.com/m/1v25Mt

Elliott Wave Theory – Just Essentials by Mike Bridges
11/16/2011

http://ptausa.wistia.com/m/UQ2cD6

GO FOR THE GOLD! by Mike Bridges 01/28/2012

http://ptausa.wistia.com/m/Ty3RZo

GO FOR THE GOLD! by Mike Bridges 03/08/2012

http://ptausa.wistia.com/m/Ni3yZw

GO FOR THE GOLD! by Mike Bridges 04/21/2012

http://ptausa.wistia.com/m/tj4bNu

You Gotta Go with the Flow to Get to the Gold! by Mike
Bridges 05/05/2012

http://ptausa.wistia.com/m/LN4pFu

To Get the the Gold, Follow the Tide, the Wave and the
Ripple! by Mike Bridges 06/05/2012

http://ptausa.wistia.com/m/4E5KA6

Click the play button to watch today’s Market Movie. Enjoy

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.

Today’s 3-minute ES chart