intraday trading strategies for the es & 6e
TRANSCRIPT
INTRADAY TRADING STRATEGIES
FOR THE ES & 6E
With Trader Tim Racette of EminiMind.com
About Tim
Full-time Trader
Speaker at Las Vegas Traders Expo
Blog at EminiMind.com
ASU Sun Devil
Adventurer
Mountain Biker
Outline
My Philosophy
Daily Trading Routine
3 Helpful Tools & Indicators
Screen Setup
Methodology & Trade Setups
Examples
10 Key Realizations From My Own Trading
3 Steps to Get Started
Q+A
My Philosophy
Mindset is everything
Leads to confident execution
Balance trading and life
Detach yourself from the emotions
Winning and losing money
Think in terms of ticks/pips, not $
Technical Trader
ES & 6E
Few minutes to few hours if trailing
Anything can happen
Discipline 100% of the time, all the time
No shortcuts or substitute for screen time
Work smart, be patient, stay disciplined
Daily Trading Routine
7:00 AM (CST) Get Started
Check for news announcements
Overnight price action
8:30 AM NYSE Open
I don’t trade ES first 30-mins
Look at where market internals open
9:00 – 10:00 AM
Gauge speed, trending/range day
How are my trades resulting?
Sets tone for the day
11:00 AM – 2:00 PM
Keep trading if going well, stop if choppy
3 Helpful Tools & Indicators
3 Helpful Tools
15-min Chart
512 Tick Chart
Heikin Ashi Candlestick Study
Indicators
Halfway back retracements
Market Internals
NYSE Tick
Market Breadth
Advance/Decline Line
Methodology & Trade Setups
ES Setups
Gap Fill
Pre-market (towards prior day’s close)
15-min
Simple halfway back retracement
Countertrend Micro
Low price w/ low tick
High price w/ high tick
6E Setups
15-min in trend
Clear trend established
Micro after 15
Setup on 512 tick after 15-min
Methodology & Trade Setups
Key Aspects
Indentify market direction
Buy/sell at halfway back retracement levels
Limit orders
Enter with larger trend
Buy in low ticks
Sell in high ticks
Focus on Reduce Risk
Small 1st profit target
Tighten stop
Use of Trail Stops
10 Key Realizations From My Own Trading
1. The market can always go higher/lower.
2. Don’t tighten stops too quickly.
3. It’s okay to give up the small winner.
4. Maximize the winning trades, not # of winners.
5. Trade the same way each and every time.
6. Fit the method to the #s.
7. It’s all about probabilities (think bigger picture).
8. Trading less leads to more profits.
9. I don’t have to make a trade today.
10. Trade as hands-off as possible.
3 Steps to Get Started
1. Create a Money Management Plan
Where does trading fit in the bigger picture?
Determine a suitable risk amount.
How much time will you allocate?
2. Pick a Strategy
Hash it out on paper
The #s need to make sense
3. Begin Live Trading
Start w/ 1 contract
Develop the emotional control
Practice patience
Execute with discipline
One Final Note
No shortcuts or substitute for screen time
Work smart, be patient, stay disciplined
EminiMind.com Blog
Start Here and Archives tab
How to Videos & Webinars
Resources & Tools
Trading Rules
Mentoring Available
Thank You!
More at www.EminiMind.com
Tim Racette
Sincerely,