Thomas Wood | MicroQuant Identifying Key Support and ...Profits+Workshop... · Identifying Key...
Transcript of Thomas Wood | MicroQuant Identifying Key Support and ...Profits+Workshop... · Identifying Key...
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Identifying Key Support and Resistance Levels
presented by
Thomas Wood | MicroQuantSM
Everyday Profits
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Risk Disclaimer Trading or inves-ng carries a high level of risk, and is not suitable for all persons. Before deciding to trade or invest you should carefully consider your investment objec-ves, level of experience, and ability to tolerate risk. This content is subject to change at any -me without no-ce, and is provided for the sole purpose of educa-on and assistance in making independent investment decisions. ValueCharts.com has taken reasonable measures to ensure the accuracy of the informa-on contained herein; however, ValueCharts.com does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or from an inability to access such informa-on or any delay in or failure of the transmission or the receipt of any instruc-on or no-fica-on in connec-on therewith. Any past performance results are shown for illustra-on and example only, are hypothe-cal and as such have many inherent limita-ons. No representa-on is being made that any account will or is likely to achieve profits or losses similar to those shown. Past performance is not necessarily indica-ve of future results.
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CFTC Rule 4.41 (Hypothetical Disclaimer)
U.S. Government Required Disclaimer -‐ Commodity Futures Trading Commission Futures and Op-ons trading has large poten-al rewards, but also large poten-al risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and op-ons markets. Don't trade with money you can't afford to lose. This is neither a solicita-on nor an offer to Buy/Sell futures, stocks or op-ons on the same. No representa-on is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indica-ve of future results. CFTC RULE 4.41 -‐ HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-‐OR-‐OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL, OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE DISCUSSED WITHIN THIS SITE, SUPPORT AND TEXTS. OUR COURSE(S), PRODUCTS AND SERVICES SHOULD BE USED AS LEARNING AIDS ONLY AND SHOULD NOT BE USED TO INVEST REAL MONEY. IF YOU DECIDE TO INVEST REAL MONEY, ALL TRADING DECISIONS SHOULD BE YOUR OWN.
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About Me… Formal info
• 1995 Graduate of Vanderbilt University
• Full Broker at 23 with Merrill Lynch
• 12 Year Senior Advisor Vanguard Asset Management Service
• 23 months in Stocks & Op-ons Live Trading Room
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About Me… Personal info
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EveryDay Profits
• Why trade Intra-‐Day? • What are the Benefits?
• The Trading Day Time Map
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EveryDay Profits
• Follow the Indexes • S&P500 vs NASDAQ100 vs Russell 2000
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EveryDay Profits
• Range-‐Bound vs Trending Days • * The OPENING RANGE *
• * The Mid-‐Morning Reversal *
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EveryDay Profits
• Trade Setups for Reversals • Trade Setups for Breakouts
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EveryDay Profits
• Beware the Lunch-me Doldrums
• *The Aiernoon Move*
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EveryDay Profits
• Trading into the Close
• Do I hold Overnight?
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EveryDay Profits
– Bonus Stuff –
• Trading Account Size -‐ A straight-‐forward method
• Grow into Sustainable Profits
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EveryDay Profits
– Bonus Stuff –
• Trading Account Size -‐ A straight-‐forward method
• Grow into Sustainable Profits
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EveryDay Profits
– Bonus Stuff –
Step by Step Guide to
Trading through the Day
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EveryDay Profits
– Bonus Stuff –
Next Steps…
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Why trade Intra-‐Day?
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• Why trade Intra-‐Day? -‐ Everyday is Different
-‐ Challenging yet Fun to Adapt to a Changing Market Environment
-‐ You get to experience the world/news through the markets
-‐ Intra-‐Day: very short term charts: 1, 2, 3, 5 min or -cks
EveryDay Profits
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Benefits of Intra-‐Day Trading
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• Why Benefits of Intra-‐Day Trading
-‐ Everyday is Different but Similar…
-‐ Most Trading Days follow a consistent -me script -‐ Morning, Lunch, Aiernoon
-‐ Most Daily Price ac-on in Stocks follows the flow of the Indexes
EveryDay Profits
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• Why Benefits of Intra-‐Day Trading
-‐ Know your Daily Profits – trading is your business -‐ Capital & Real Estate – trading computer, data feed -‐ Overhead Expenses – trade losses -‐ Employees & Skills – that’s you
-‐ Walk away everyday with Money in your Pockets!
EveryDay Profits
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• Why Benefits of Intra-‐Day Trading
-‐ NO OVERNIGHT EXPOSURE RISK !!!
-‐ Overnight Market movements are an inherent risk to intra-‐day posi-ons held longer, overnight
EveryDay Profits
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The Trading Day Time Map
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• The Trading Day Time Map
-‐ Morning Session : PreMarket, 9:30 – 12noon
-‐ Lunch-me Doldrums : 12noon – 2pm
-‐ Aiernoon Session : 2pm – 3:45pm
EveryDay Profits
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Follow the Indexes
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• Follow the Indexes
-‐ Every boat captain knows it’s easiest to put to sea when the -de is flowing out…
-‐ The Indexes and their price movement are the Market’s Tides.
-‐ When you trade Intra-‐Day, trade in the same direc-on as the Index, you will have a much easier flow to your trade, and it will have a much higher chance of success
EveryDay Profits
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• Follow the Indexes
-‐ When you trade Intra-‐Day, trade in the same direc-on as the Index,
-‐ you will have a much higher probability that your trade will be profitable.
EveryDay Profits
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S&P500 vs NASDAQ100 vs Russell 2000
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• S&P500 vs NASDAQ100 vs Russell 2000
-‐ S&P 500 Index -‐ 500 Largest US Companies by market cap -‐ 80% of total US Market -‐ “800 lb Gorilla” in the room
EveryDay Profits
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• S&P500 vs NASDAQ100 vs Russell 2000
-‐ NASDAQ 100 Index -‐ 100 of the top “technology” Growth companies -‐ Market cap weighted, Dominated by top 12 holdings
EveryDay Profits
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• S&P500 vs NASDAQ100 vs Russell 2000
-‐ Russell 2000 Index -‐ 2,500 Midcap & Small cap US Companies -‐ Remaining 20% of total US Market -‐ Fast movers
-‐ Russell 2000 either leads or lags the ES & NQ indexes
EveryDay Profits
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• S&P500 vs NASDAQ100 vs Russell 2000
-‐ Rela-ve Strength -‐ Most of the -me indexes move together -‐ But if we compare indexes ES and NQ, usually one will be rela-vely stronger or weaker than the other
-‐ If the ES is leading, it will pull NQ with it by shear weight -‐ If the NQ is leading, it could influence ES by momentum -‐ In a fast moving market, Russell 2000 tends to lead both ES and NQ
EveryDay Profits
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Ru
Range-‐Bound vs Trending Days
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• Range-‐Bound vs Trending Days
-‐ Range-‐Bound Days -‐ Defini-on : days which prices tend to move between an established high (resistance) and an established low (support)
-‐ Prices also get pulled back to the middle of the range as they approach the high or low
-‐ These are seen as Consolida-on Bars on the daily chart
EveryDay Profits
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• Range-‐Bound vs Trending Days
-‐ Range-‐Bound Days -‐ Opening Range high & low have a big influence on daily range
-‐ Roughly 60-‐65% of trading days are Range-‐Bound -‐ Reversal Trades that respect the O.R. high & low are successful
EveryDay Profits
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• Range-‐Bound vs Trending Days
-‐ Trending Days -‐ Defini-on : days which prices tend to move in a trend, easily breaking previous day’s highs and lows with momentum
-‐ Prices then to “push the envelope” of Opening Range levels in the direc-on of momentum of the daily charts
-‐ These are seen as Trending Bars on the daily chart
EveryDay Profits
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• Range-‐Bound vs Trending Days
-‐ Trending Days -‐ Opening Range high & low levels allow us to see the strength of the momentum move
-‐ Roughly 35 -‐ 40% of trading days are Trending Days -‐ Usually Trending Days generally string along 2 or 3 days at a -me.
-‐ Breakout & Trend-‐following trades work well
EveryDay Profits
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* The OPENING RANGE *
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Opening Range
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Opening Range
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• * The OPENING RANGE *
-‐ Opening Range [The Magic Box] -‐ Opening Range of the trading day -‐ Defined by the first 30 minutes (9:30am – 10am Eastern)
-‐ Opening Range High – the highest price the index traded in the first 30 minutes
-‐ Opening Range Low – the lowest price the index traded in the first 30 minutes
EveryDay Profits
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Opening Range
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• * The OPENING RANGE *
-‐ Opening Range [The Magic Box] -‐ Let the market move for the first 30 minutes to establish the Opening Range (O.R.)
-‐ Aier the first 30 minutes, draw the High & Low O.R. Price Levels on your Charts and extend out for the rest of the day
-‐ Opening Range High & Low – should be considered significant intraday support and resistance levels for the rest of the day
EveryDay Profits
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Opening Range
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Opening Range
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Opening Range
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• * The OPENING RANGE *
-‐ Opening Range [The Magic Box] -‐ Also, Draw a price level roughly 50% between the O.R. High and Low. This is the “middle” of the O.R. Box, and prices will tend to pull back to the “middle” on Range – Bound days.
-‐ The “middle” of the O.R. will also serve as a moderate intraday support & resistance price level. But not as important as the O.R. high & low
EveryDay Profits
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Opening Range
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• * The OPENING RANGE *
-‐ Opening Range [The Magic Box] -‐ If the Indexes stay between the O.R. High & Low, the day will probably be Range-‐Bound
-‐ Trade Reversal Trades that bounce off the O.R. Low (support) and bounce down off the O.R. High (resistance)
-‐ Retracement Trades of 50% or more are very likely against the O.R. High & Low
EveryDay Profits
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Range-Bound Trading
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Range-Bound Trading
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• * The OPENING RANGE *
-‐ Opening Range [The Magic Box] -‐ If the Indexes move beyond the O.R. High & Low, the day has a higher probability to be a Trending Day
EveryDay Profits
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Trending-Day Trading
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Trending-Day Trading
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• * The OPENING RANGE *
-‐ Opening Range [The Magic Box] -‐ Once the O.R. High is broken, look for Bullish Trending trades taking prices Higher
-‐ A strong move above the O.R. High is considered a bullish breakout, and can be used as an entry point
-‐ Use Trend Following Indicators -‐ Look for Bull Flags and Bullish Pennant paxerns for entry points
EveryDay Profits
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Trending-Day Trading
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• * The OPENING RANGE *
-‐ Opening Range [The Magic Box] -‐ Once the O.R. Low is broken, look for Bearish Trending trades taking prices Lower
-‐ A strong move below the O.R. Low is considered a bearish breakout, and can be used as an entry point
-‐ Use Trend Following Indicators -‐ Look for Bear Flags and Bearish Pennant paxerns for entry points
EveryDay Profits
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Trending-Day Trading
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* The Mid-‐Morning Reversal*
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• * The Mid-‐Morning Reversal*
-‐ 9:30-‐9:35 AM : Market Open / Opening Gap
-‐ Overnight order imbalances create Gap at Open
-‐ Greater # Buy Orders : Bullish Gap Higher
-‐ Greater # Sell Orders : Bearish Gap Lower
EveryDay Profits
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Opening Gap
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• * The Mid-‐Morning Reversal*
-‐ 9:35-‐10:00 AM : Opening Range
-‐ Indexes & Individual Stocks make ini-al direc-onal moves -‐ Opening Range can be Wide or Narrow
-‐ Wide Opening Range : facilitates Range Bound trading
-‐ Narrow Opening Range : makes it easy for Breakout Trades
EveryDay Profits
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Wide Opening Range
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Narrow Opening Range
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• * The Mid-‐Morning Reversal*
-‐ 10:00 – 10:45 AM : Likely range of Mid-‐AM Reversal
-‐ If Index moving 45° inside O.R. Box it will emerge at the top or boxom of the O.R. Box
-‐ It can have immediate 50% Reversal trade back to the middle of the O.R. Box
EveryDay Profits
![Page 66: Thomas Wood | MicroQuant Identifying Key Support and ...Profits+Workshop... · Identifying Key Support and Resistance Levels presented by Thomas Wood | MicroQuantSM Everyday Profits](https://reader030.fdocuments.in/reader030/viewer/2022040218/5e0f43d02e56026e1728ae47/html5/thumbnails/66.jpg)
Quick Reversal at 10AM
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• * The Mid-‐Morning Reversal*
-‐ 10:00 – 10:45 AM : Likely range of Mid-‐AM Reversal
-‐ If emerge from middle of O.R. Box, Index can then move toward an O.R. High or Low price level
-‐ From There it can make a Reversal trade against the Support and Resistance Levels
EveryDay Profits
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Mid-Morning Reversal
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• * The Mid-‐Morning Reversal*
-‐ 10:00 – 10:45 AM : Likely range of Mid-‐AM Reversal
-‐ If the Ini-al O.R. Move creates a Run-‐away Breakout Higher or Lower, it may be an Overall Trending Day, and any Retracements against the prevailing move will not be overly profitable
-‐ Breakouts on Trending Days should be played in the direc-on of the Breakout move with Trend Following trades.
EveryDay Profits
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Trending : No Mid-Morning Reversal
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Trade Setups for Reversals
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• Trade Setups for Reversals
-‐ Increasing prices vs. Resistance levels
-‐ Single Tops : fairly common, most likely will succeed with moderate bullish momentum and against O.R. High or against previous Daily Highs
EveryDay Profits
![Page 73: Thomas Wood | MicroQuant Identifying Key Support and ...Profits+Workshop... · Identifying Key Support and Resistance Levels presented by Thomas Wood | MicroQuantSM Everyday Profits](https://reader030.fdocuments.in/reader030/viewer/2022040218/5e0f43d02e56026e1728ae47/html5/thumbnails/73.jpg)
• Trade Setups for Reversals
-‐ Increasing prices vs. Resistance levels -‐ Double Tops / Bearish Divergence : s-ll common, higher probability of success because of 2 points of momentum & prices to compare, higher probability against O.R. High or against previous Daily Highs
-‐ Enter at the Second high, at the first lower low, as bearish trade
EveryDay Profits
![Page 74: Thomas Wood | MicroQuant Identifying Key Support and ...Profits+Workshop... · Identifying Key Support and Resistance Levels presented by Thomas Wood | MicroQuantSM Everyday Profits](https://reader030.fdocuments.in/reader030/viewer/2022040218/5e0f43d02e56026e1728ae47/html5/thumbnails/74.jpg)
• Trade Setups for Reversals
-‐ Increasing prices vs. Resistance levels -‐ Head & Shoulders Paxern : Triple Top
-‐ Decreasing Momentum Setup -‐ U-lize “Value” reading for maximum efficiency -‐ Watch for Double Top / Bearish Divergence paxern to possibly develop into H&S paxern
-‐ Enter at the Right Shoulder as bearish trade
EveryDay Profits
![Page 75: Thomas Wood | MicroQuant Identifying Key Support and ...Profits+Workshop... · Identifying Key Support and Resistance Levels presented by Thomas Wood | MicroQuantSM Everyday Profits](https://reader030.fdocuments.in/reader030/viewer/2022040218/5e0f43d02e56026e1728ae47/html5/thumbnails/75.jpg)
• Trade Setups for Reversals
-‐ Decreasing prices vs. Support levels
-‐ Single Boxoms : fairly common, most likely will succeed with moderate bearish momentum and bounce up off O.R. Low or up off previous Daily Lows
EveryDay Profits
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• Trade Setups for Reversals
-‐ Decreasing prices vs. Support levels
-‐ Double Boxoms / Bullish Divergence : s-ll common, higher probability of success because of 2 points of momentum & prices to compare, higher probability against O.R. Low or against previous Daily Lows
-‐ Enter at the Second Low : at the first higher high, as bullish trade
EveryDay Profits
![Page 77: Thomas Wood | MicroQuant Identifying Key Support and ...Profits+Workshop... · Identifying Key Support and Resistance Levels presented by Thomas Wood | MicroQuantSM Everyday Profits](https://reader030.fdocuments.in/reader030/viewer/2022040218/5e0f43d02e56026e1728ae47/html5/thumbnails/77.jpg)
• Trade Setups for Reversals
-‐ Decreasing prices vs. Support levels
-‐ Inverse Head & Shoulders Paxern : Triple Boxom -‐ Increasing Momentum Setup -‐ U-lize “Value” reading for maximum efficiency -‐ Watch for Double Boxom / Bullish Divergence paxern to possibly develop into Inverse H&S paxern
-‐ Enter at the Right Shoulder with bullish trade
EveryDay Profits
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Trade Setups for Breakouts
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• Trade Setups for Breakouts
-‐ Bullish Breakout :
-‐ Move above Resistance Level, with increasing Bullish momentum
-‐ Look for Stronger bullish momentum than the previous test of resistance
-‐ Watch for “Last Kiss” retest of Level before con-nuing move higher
EveryDay Profits
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Bullish Breakout
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• Trade Setups for Breakouts
-‐ Bearish Breakout :
-‐ Move below Support Level, with increasing Bearish momentum
-‐ Look for Stronger bearish momentum than the previous test of resistance
-‐ Watch for “Last Kiss” retest of Level before con-nuing move lower
EveryDay Profits
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Bearish Breakout
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Beware the Lunch-me Doldrums
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The Doldrums : 12 Noon – 2PM
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• Beware the Lunch-me Doldrums
-‐ “Doldrums” : A period of choppy, rela-vely non-‐direc-onal movement in the indexes
-‐ Trading ac-vity slows, Prices move into sideways channels -‐ Normally starts around 12pm, +/-‐ 30 minutes -‐ Lasts around 2 hours -‐ Normally ends around 2pm, +/-‐ 30 minutes
EveryDay Profits
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The Doldrums : 12 Noon – 2PM
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• Beware the Lunch-me Doldrums
-‐ The Transi-on into the Doldrums is marked by slow down of trading, and price ac-on choppiness
-‐ The Transi-on out of the Doldrums is usually marked by a strong direc-onal move in the indexes, and increased market ac-vity
-‐ Trading during the Doldrums will usually be difficult because of the non-‐direc-onal nature of price ac-on
EveryDay Profits
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The Doldrums : 12 Noon – 2PM
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The Aiernoon Move
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• The Aiernoon Move
-‐ Aiernoon Session starts when Indexes shows strong price ac-on and momentum move out of the Doldrums period
-‐ Usually 2:00PM +/-‐ 30 minutes
-‐ Aiernoon Session, usually 1 major direc-onal move
-‐ Can be : Range-‐Bound Trading or Breakouts
EveryDay Profits
![Page 91: Thomas Wood | MicroQuant Identifying Key Support and ...Profits+Workshop... · Identifying Key Support and Resistance Levels presented by Thomas Wood | MicroQuantSM Everyday Profits](https://reader030.fdocuments.in/reader030/viewer/2022040218/5e0f43d02e56026e1728ae47/html5/thumbnails/91.jpg)
Jump into Afternoon Move
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• The Aiernoon Move
-‐ Range Bound Trading
-‐ If the Morning Session was Range-‐Bound, Aiernoon Range-‐Bound Trading will con-nue to move between O.R. High & Low
-‐ Watch Momentum as price approaches O.R. High or Low to see if there may be a breakout, if it does, this will turn into a Momentum Breakout
EveryDay Profits
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Range-Bound Afternoon Move
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• The Aiernoon Move
-‐ Momentum Breakouts
-‐ If the Morning Session was Range-‐Bound, the aiernoon can see a Breakout move above or below O.R. Highs or Lows
-‐ If the Morning Session was a Breakout, the aiernoon can see a con-nua-on Breakout move in the same direc-on
-‐ Or, it can see a Rapid Snapback to the Opening Range Box in opposite direc-on
EveryDay Profits
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Momentum Afternoon Move
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• The Aiernoon Move
-‐ Late Day Snapback Trade -‐ If the Index has been Moving Strongly in one direc-on for the majority of the trading day…
-‐ Be on the lookout for a very quick snapback trade in the last 30-‐45 minutes (3:15pm), back towards the O.R. Box
-‐ This move will start slowly, but will quickly break and move very fast
EveryDay Profits
![Page 97: Thomas Wood | MicroQuant Identifying Key Support and ...Profits+Workshop... · Identifying Key Support and Resistance Levels presented by Thomas Wood | MicroQuantSM Everyday Profits](https://reader030.fdocuments.in/reader030/viewer/2022040218/5e0f43d02e56026e1728ae47/html5/thumbnails/97.jpg)
Late Day Snapback Trade
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• The Aiernoon Move
-‐ Late Day Snapback Trade -‐ All the Indexes will tend to move in unison
-‐ Late Day Snapbacks tend to happen in 33% of strong movement days
-‐ Friday is a favorite day for these Snapback Trades
EveryDay Profits
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Late Day Snapback Trade
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Trading into the Close
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• Trading into the Close
-‐ The Close is usually considered the last 30 minutes of the session
-‐ The indexes are either moving in the dominant direc-on of the day
-‐ Or, moving in the direc-on of a Snapback trade
EveryDay Profits
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• Trading into the Close
-‐ Take much cau-on trading during the last 5-‐7 minutes as the markets become very quick moving and rela-vely choppy
-‐ Last minute posi-on buys & sells move prices erra-cally
-‐ Market on close orders can disrupt price paxerns
EveryDay Profits
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Market Close Volatility
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Do I hold Overnight?
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• Do I hold Overnight?
-‐ Intra-‐Day Trading Focus usually has us exi-ng posi-on prior to the market close
-‐ If you have a posi-on with a “profit cushion” you might consider holding for a con-nua-on move the next trading day
EveryDay Profits
![Page 106: Thomas Wood | MicroQuant Identifying Key Support and ...Profits+Workshop... · Identifying Key Support and Resistance Levels presented by Thomas Wood | MicroQuantSM Everyday Profits](https://reader030.fdocuments.in/reader030/viewer/2022040218/5e0f43d02e56026e1728ae47/html5/thumbnails/106.jpg)
Do I Hold Overnight?
![Page 107: Thomas Wood | MicroQuant Identifying Key Support and ...Profits+Workshop... · Identifying Key Support and Resistance Levels presented by Thomas Wood | MicroQuantSM Everyday Profits](https://reader030.fdocuments.in/reader030/viewer/2022040218/5e0f43d02e56026e1728ae47/html5/thumbnails/107.jpg)
• Do I hold Overnight?
-‐ Check the Daily and 60 min trend strength
-‐ Could this be part of a swing move of 3-‐5 days?
-‐ Could you take Par-al Profits and leave a part of the posi-on for tomorrow?
-‐ Is the Profit Cushion enough to cover AM gap?
EveryDay Profits
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Do I Hold Overnight?
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Trading Account Size
-‐ A straight-‐forward method -‐
![Page 110: Thomas Wood | MicroQuant Identifying Key Support and ...Profits+Workshop... · Identifying Key Support and Resistance Levels presented by Thomas Wood | MicroQuantSM Everyday Profits](https://reader030.fdocuments.in/reader030/viewer/2022040218/5e0f43d02e56026e1728ae47/html5/thumbnails/110.jpg)
• Trading Account Size -‐ a straight-‐forward method
-‐ Not Advice, just general Guidelines…
-‐ Select your risk level based on your overall financial condi-on, risk tolerance, and trading experience…
EveryDay Profits
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• Trading Account Size -‐ a straight-‐forward method
-‐ The 1/3 ac-ve, 2/3 reserve account
-‐ Example : $30,000 account
-‐ Ac-ve por-on : $10,000
-‐ Reserve por-on : $20,000
EveryDay Profits
![Page 112: Thomas Wood | MicroQuant Identifying Key Support and ...Profits+Workshop... · Identifying Key Support and Resistance Levels presented by Thomas Wood | MicroQuantSM Everyday Profits](https://reader030.fdocuments.in/reader030/viewer/2022040218/5e0f43d02e56026e1728ae47/html5/thumbnails/112.jpg)
• Trading Account Size -‐ a straight-‐forward method
-‐ Ac-ve por-on : $10,000
-‐ Commit 10% – 20% per trade, $1,000 -‐ $2,000
-‐ 1 ac-ve trade at a -me
EveryDay Profits
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• Trading Account Size -‐ a straight-‐forward method
-‐ Account Harves-ng -‐
-‐ Weekly basis, calculate increase to Trading account
-‐ Take 50% of growth, transfer out of trading account, where the market cannot take it back
EveryDay Profits
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• Trading Account Size -‐ a straight-‐forward method
-‐ Account Harves-ng -‐
-‐ Remaining 50% of growth, stays in Trading account
-‐ Recalculate Ac-ve & Reserve amounts for next week
EveryDay Profits
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Grow into Sustainable Profits
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• Grow into Sustainable Profits
-‐ Trading Account Growth is based on Trading Success
-‐ Trading Success is a combina-on of :
-‐ Consistent Trading + Improving Trading Skill
EveryDay Profits
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• Grow into Sustainable Profits
-‐ Do not Trade too big size too fast
-‐ Time = Experience
-‐ Experience = Comfort
EveryDay Profits
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• Grow into Sustainable Profits
-‐ Not Advice, just general Guidelines…
-‐ Do not increase your trading size if you feel increased trading pressure, (thinking about P/L, more than the trade)
-‐ Scale back un-l you can trade comfortably
EveryDay Profits
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• Grow into Sustainable Profits -‐ Start with 1 contract
-‐ Then move to 2 contracts
-‐ Then to 3 or 4 contracts
-‐ Then to 5 contracts
-‐ Then increase by +2 un-l at scale
EveryDay Profits
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Trading through the Day
Step by Step, 1-‐2-‐3
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ Pre-‐Market -‐ Economic Reports -‐ Major news -‐ Previous Day’s High/Low levels -‐ Major momentum Gaps at open
EveryDay Profits
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ At Open -‐ Let market work through open orders – 5 min -‐ Watch the price ac-on for the Open Range
EveryDay Profits
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ At Open -‐ Watch your trading stocks :
-‐ Ac-ve? -‐ Moving with the Indexes? -‐ Moving unlike Indexes
EveryDay Profits
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ At 10 AM… Create the Opening Range Box Determine Range Bound vs Trending Day -‐ Trade each appropriately: -‐ Look for poten-al 1st Reversal -‐ Look for ac-ve breakout moves
EveryDay Profits
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ At 10:15 AM… -‐ Start to ac-vely look for 20-‐30 minute ini-al move higher or lower in indexes
-‐ If you see the ini-al move, look for Mid-‐AM Reversal to Start between 10:15 AM and 10:45 AM
EveryDay Profits
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ At start of Mid-‐AM Reversal… -‐ Look for a poten-al 50% Retracement of the Ini-al Move
-‐ Look to O.R. High/Low for support/resistance
-‐ Follow the Indexes, trade Futures, ETFs, or Op-ons in ETFs or Individual Stocks
EveryDay Profits
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ During Range-‐Bound Mornings,
-‐ Look for Reversal Trades at O.R. Levels, and previous day’s High/Low price levels
-‐ 50% retracement should be primary profit targets
-‐ Allow small “runner” posi-ons to profit from 61.8%, 76.4%, and 100% retracement moves
EveryDay Profits
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ During Trending Mornings…
-‐ Enter the Trend at Breakout Levels. -‐ O.R. High/Low -‐ Previous Day’s High Low -‐ Major Support/Resistance levels
-‐ Enter the Trend at Consolida-on paxerns -‐ Bull/Bear Flags -‐ Con-nua-on Pennants
EveryDay Profits
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ During Trending Mornings…
-‐ Use efficient Trend Following Indicators to indicate changes in trend to exit the trades
-‐ Use Fibonacci Extension levels to project Profit Targets
-‐ Use the “Follow-‐up” Stop loss method to Lock-‐In profits
EveryDay Profits
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ Between 11:30AM -‐ 12:30PM… -‐ Watch for the start of “choppy” price movement and price bars in both the indexes & stocks
-‐ This will signal the start of the Lunch “Doldrums”
-‐ It’s best to try to limit trading during these -mes
EveryDay Profits
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ Star-ng around 2PM… entry into Aiernoon period -‐ Watch for the start of a move of significance with associated momentum in both the indexes & stocks
-‐ This will signal the exit of the Lunch “Doldrums”
EveryDay Profits
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ From the “Exit” of Doldrums un-l about 3:30PM … is the Aiernoon Period
1. Breakout of the Opening Range in a Range-‐Bound Day
OR
2. Pullback of a Breakout Move, back towards O.R. Box
EveryDay Profits
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ From the “Exit” of Doldrums un-l about 3:30PM … is the Aiernoon Period
-‐ If you don’t get a Major Move, look for con-nued Range Bound Trades, usually inside the O.R. Box [ Very Contained Day]
EveryDay Profits
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ 3:30 – 3:45 PM… Moving into Close
-‐ Be Alert to a rapid Snapback Trade if there has been a major price move that day.
-‐ Be especially Alert on Fridays
EveryDay Profits
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• Trading through the Day : Step by Step, 1-‐2-‐3
-‐ 3:30 – 3:45 PM… Moving into Close
-‐ Decide if holding any posi-ons Overnight
-‐ Exit Posi-ons by 3:50 PM to avoid Closing Price Vola-lity
EveryDay Profits
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EveryDay Profits – Next Steps –
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– Next Steps –
-‐ Watch Workshop Video recommended 4 Times 1. Review 2. Take Notes 3. Review workshop referencing Notes 4. 2-‐3 weeks later : Review with Notes
EveryDay Profits
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– Next Steps –
-‐ Work through historical 5 minute charts
-‐ Charts of Indexes (SPY, QQQ)
-‐ Charts of Stocks (GOOGL, NFLX, AAPL, AMZN)
EveryDay Profits
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– Next Steps –
-‐ Markup actual Price Charts : -‐ Block off Opening Range -‐ Create O.R. High/Low/Middle price levels -‐ Observe Price Ac-on, Reversal Paxerns, Trends
EveryDay Profits
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Thank You
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EveryDay Profits
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EveryDay Profits
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EveryDay Profits
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Thank You for your Attendance