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ES Morning Prep- Beginning the day with a long/short bias
First post on the forum, just signed up today and I plan to immerse myself in the knowledge you have to offer.
I'm planning to be an ES low frequency day trader (only 3-5 trades a week) starting with $7500 (still demo trading at the mo though). I'm developing a system at the moment to catch some nice intraday swings. I'll share it with you guys soon.
I want to enter the market each day more prepared. I watched a Linda Rashke webinar and she went over starting the day with a long/short bias. Have you guys got any techniques you use to determine which way the market could trend?
Please share your ideas or link me up some past threads that go over this subject.
Thanks in advance!
JACKATK
Can you help answer these questions from other members on NexusFi?
Welcome to the forum! You will find that there is a limitless amount of information here and that you will never run out of stuff to learn from! If you haven't yet, I would consider becoming an "Elite" member. There are just as much information, if not more in the Elite area.
Anyways, to your question!
I would read through Big Mike's thread about his journey in trading. Another great thread is the "Spoo-nalysis" thread. Both of these threads have helped hundreds, if not thousands of traders figure out their trading. In these two forums market "context" is discussed. Check out the wiki that the word "context" pulls up. Once you understand the context of the market, you will have a MUCH better ability to judge the bias of the market.
I hope I helped and the best of luck to you!
EDIT: Here some links to the threads that discuss context as well as the ES:
I'm opening this journal as I feel I need a home on FIO to put stuff. As the title implies, this will be a collection of random thoughts, images, posts from other threads, and things I want to keep track of in one place. I post in a lot of places …
Both Fed Chairman Bernanke’s remarks yesterday and President Obama’s speech last night about his jobs plan; combined, failed to reassure the market that a solution to the country’s economic woes was at hand, and the …
put up a simple 50 day sma on a weekly ,daily, 240 min., 60,min. bar chart... you want to trade in the direction of price ..when it is above or below all time frames .. for entry play with a 1 to 5 min. chart with a 9 an 19 ema when the fast ema crosses the slow one with a momentum push...trade the pull backs to the 19 ema if the ADX is over 30 .. in the direction of the larger time frames...hope it helps p.s. look at the volume of the pull back bars..make sure they are less than the momentum push bars
