Study prep for the Emini - Emini Index Futures Trading | futures io social day trading
futures io futures trading


Study prep for the Emini
Updated: Views / Replies:1,086 / 10
Created: by mrjjones Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Study prep for the Emini

  #1 (permalink)
Elite Member
Dallas Texas
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 5 since Mar 2017
Thanks: 5 given, 4 received

Study prep for the Emini

What is typically studied before the US jumps in for the Emini S&P? Is there any market news? Or a place that someone could point me in the right direction of what work to do before the open?

Reply With Quote
The following 2 users say Thank You to mrjjones for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Market Wizard
Tampa FL
 
Futures Experience: Intermediate
Platform: Sierra Charts/TOS
Broker/Data: Amp/TDA/S5
Favorite Futures: ES/NQ/CL/ZB/GC/VX
 
CenFlo's Avatar
 
Posts: 546 since Apr 2016
Thanks: 681 given, 780 received
Forum Reputation: Legendary

Answer
This post has been selected as an answer to the original posters question Answer



mrjjones View Post
What is typically studied before the US jumps in for the Emini S&P? Is there any market news? Or a place that someone could point me in the right direction of what work to do before the open?

Check out some of the journals and specifically this one:

https://futures.io/trading-journals/27543-dts-pre-market-prep.html

DT has a great premarket write up and is very detailed on the ranges.

Personally, I take a screenshot of the overnight movement, which includes the Asian and Europe markets, note the O/N range and if the market is long or short from the previous days close.

I check the economic calendar to see what news and reports will be hitting for the day and what time.

I also look at the other asset classes (/ZN, /ZB, /GC, /CL and currencies) to see what movement they've had in the O/N session.

I then make a determination if I feel the market stance is risk on or risk off in terms of equities and which way I feel the $$ will be moving in or out of equities, which directly relate to the futures.

I journal all of the above in to my trading journal @ www.tradervue.com and try to formulate a trading plan based on how I think the market will move for the day, at least hypothetically "Hypo's" to use a @FuturesTrader71 term.

And speaking of, FT71 he does a daily trader bite @ 0900, EST that is very helpful. I watch it daily, live, as he broadcasts it.

https://twitter.com/FuturesTrader71

https://www.youtube.com/user/FuturesTrader71

You miss 100% of the shots you don't take. - Wayne Gretsky
Reply With Quote
The following 4 users say Thank You to CenFlo for this post:
 
  #4 (permalink)
 Vendor: www.orderflowdashpro.com 
North Carolina
 
Futures Experience: Beginner
Platform: NinjaTrader, Tradestation
Favorite Futures: es
 
Posts: 283 since Nov 2011
Thanks: 69 given, 260 received

Overnight action, world/other markets with different opening time, Bloomberg calendar. Very common reference is where the market is trading in relation to the open, prior close, prior highs, prior lows, etc. Also any programmed systems or systematic biases but that can be difficult to integrate. Some traders prefer to go into the markets without any bias. The differentiating factor as to whether it is more or less beneficial to have a bias is how well your day trading style aligns with such a bias. If you hold for the whole day then the bias is more useful but if you're just looking for a few points intra-day then such a systematic bias will often not be beneficial. In other words, if the dominant frequency of your trading style is not aligned with the informational frequency of your bias then it might not be relevant.

Traders like to trade off the open because the volatility is typically highest off the open. Traders need the market to move to profit from it. I figure most traders who trade the open are tape reading and trying to form a concept of what the day structure will turn out to be. If you can guess the day structure then day trading is rather simple. It relies on the simple knowledge that a trend day will tend to close near the high or low. Of course, it's not that simple because a lot of days are range days and markets tend to be highly mean reversionary on short time scales.

Tape readers, like myself, read the "tape" or time/sales or use specialized software like my AlphaReveal software, or Jigsaw, or Bookmap. For highly attuned traders, it is often possible to gain valuable information from this information. However, it is not trivial-- it never was -- but these days there are a lot of algos that are programmed to sell on new highs and buy new lows which makes for more frequent shifts in the tape. A lot of algos can be programmed in different ways but nonetheless end up acting in unison: so these algo traders aren't necessarily winning either. All the orders might come in at the same time. So think about it, in a downtrend.. you get a little bounce. All these orders come in and so your fill isn't good. But, if you are against the trend then your ability to exit is limited.

Some common patterns are: stealth selling days (open high and sell off all day) -- I call these stealth selling days because non day traders just tend to look at the close to close action and never understand that the markets sold off all day, opening drives, opening drive fake outs (very common these days), reversals, etc.

As an aside, the overnight range is probably more useful for determining the volatility versus actual direction. However that can be useful too. For single market traders, one of the goals is to trying to avoid missing something important. So, checking news is more about not getting hit when an important report comes out then trying to determine what the market will do. You want to understand what all the various market participants are thinking/doing.

If you are a multi-market trader, you might be looking for setups or trying to determine which markets will have the highest volatility or best conditions for trading.


mrjjones View Post
What is typically studied before the US jumps in for the Emini S&P? Is there any market news? Or a place that someone could point me in the right direction of what work to do before the open?



Last edited by tpredictor; May 9th, 2017 at 12:45 AM.
Reply With Quote
The following 4 users say Thank You to tpredictor for this post:
 
  #5 (permalink)
Elite Member
Dallas Texas
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 5 since Mar 2017
Thanks: 5 given, 4 received


CenFlo View Post
Check out some of the journals and specifically this one:

https://futures.io/trading-journals/27543-dts-pre-market-prep.html

DT has a great premarket write up and is very detailed on the ranges.

Personally, I take a screenshot of the overnight movement, which includes the Asian and Europe markets, note the O/N range and if the market is long or short from the previous days close.

I check the economic calendar to see what news and reports will be hitting for the day and what time.

I also look at the other asset classes (/ZN, /ZB, /GC, /CL and currencies) to see what movement they've had in the O/N session.

I then make a determination if I feel the market stance is risk on or risk off in terms of equities and which way I feel the $$ will be moving in or out of equities, which directly relate to the futures.

I journal all of the above in to my trading journal @ www.tradervue.com and try to formulate a trading plan based on how I think the market will move for the day, at least hypothetically "Hypo's" to use a @FuturesTrader71 term.

And speaking of, FT71 he does a daily trader bite @ 0900, EST that is very helpful. I watch it daily, live, as he broadcasts it.

https://twitter.com/FuturesTrader71

https://www.youtube.com/user/FuturesTrader71

Thank you for your help in this I will start looking at the links you posted.
What value do you see in looking at other asset classes? How do these determine which way you think the "hypo" direction will be?

Reply With Quote
The following 2 users say Thank You to mrjjones for this post:
 
  #6 (permalink)
Elite Member
Dallas Texas
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 5 since Mar 2017
Thanks: 5 given, 4 received


tpredictor View Post
Overnight action, world/other markets with different opening time, Bloomberg calendar. Very common reference is where the market is trading in relation to the open, prior close, prior highs, prior lows, etc. Also any programmed systems or systematic biases but that can be difficult to integrate. Some traders prefer to go into the markets without any bias. The differentiating factor as to whether it is more or less beneficial to have a bias is how well your day trading style aligns with such a bias. If you hold for the whole day then the bias is more useful but if you're just looking for a few points intra-day then such a systematic bias will often not be beneficial. In other words, if the dominant frequency of your trading style is not aligned with the informational frequency of your bias then it might not be relevant.

Traders like to trade off the open because the volatility is typically highest off the open. Traders need the market to move to profit from it. I figure most traders who trade the open are tape reading and trying to form a concept of what the day structure will turn out to be. If you can guess the day structure then day trading is rather simple. It relies on the simple knowledge that a trend day will tend to close near the high or low. Of course, it's not that simple because a lot of days are range days and markets tend to be highly mean reversionary on short time scales.

Tape readers, like myself, read the "tape" or time/sales or use specialized software like my AlphaReveal software, or Jigsaw, or Bookmap. For highly attuned traders, it is often possible to gain valuable information from this information. However, it is not trivial-- it never was -- but these days there are a lot of algos that are programmed to sell on new highs and buy new lows which makes for more frequent shifts in the tape. A lot of algos can be programmed in different ways but nonetheless end up acting in unison: so these algo traders aren't necessarily winning either. All the orders might come in at the same time. So think about it, in a downtrend.. you get a little bounce. All these orders come in and so your fill isn't good. But, if you are against the trend then your ability to exit is limited.

Some common patterns are: stealth selling days (open high and sell off all day) -- I call these stealth selling days because non day traders just tend to look at the close to close action and never understand that the markets sold off all day, opening drives, opening drive fake outs (very common these days), reversals, etc.

As an aside, the overnight range is probably more useful for determining the volatility versus actual direction. However that can be useful too. For single market traders, one of the goals is to trying to avoid missing something important. So, checking news is more about not getting hit when an important report comes out then trying to determine what the market will do. You want to understand what all the various market participants are thinking/doing.

If you are a multi-market trader, you might be looking for setups or trying to determine which markets will have the highest volatility or best conditions for trading.

Thank you for your post. Could you define what you mean by opening drives and drive fake outs?

Reply With Quote
 
  #7 (permalink)
 Vendor: www.orderflowdashpro.com 
North Carolina
 
Futures Experience: Beginner
Platform: NinjaTrader, Tradestation
Favorite Futures: es
 
Posts: 283 since Nov 2011
Thanks: 69 given, 260 received


mrjjones View Post
Thank you for your post. Could you define what you mean by opening drives and drive fake outs?

Opening drive = persistent buying or selling at the open that leads to new highs or low

Drive fake outs = reversals at or near range extents with return to range or drive/run to the other end of the range. Drive fake outs can be caused by large other time frame trader exhausting order flow using large resting limit orders at range extents or using the high/low prices to set off institutional buy/sell programs. In slow markets, short term trader herding behavior can also load the book making it difficult for such traders to unload. HFT programs can exacerbate the problem by running and gunning on the levels.

Reply With Quote
 
  #8 (permalink)
Market Wizard
Tampa FL
 
Futures Experience: Intermediate
Platform: Sierra Charts/TOS
Broker/Data: Amp/TDA/S5
Favorite Futures: ES/NQ/CL/ZB/GC/VX
 
CenFlo's Avatar
 
Posts: 546 since Apr 2016
Thanks: 681 given, 780 received
Forum Reputation: Legendary


mrjjones View Post
Thank you for your help in this I will start looking at the links you posted.
What value do you see in looking at other asset classes? How do these determine which way you think the "hypo" direction will be?

Risk on or risk off, as stated.

Is $$ moving in to bonds, precious metal or commodities and out of equities or vice versa?

You miss 100% of the shots you don't take. - Wayne Gretsky
Reply With Quote
 
  #9 (permalink)
Trading Apprentice
Calgary, Alberta Canada
 
Futures Experience: Beginner
Platform: Sierra Chart
Favorite Futures: ES, NQ, YM, M6E
 
Posts: 5 since Apr 2017
Thanks: 3 given, 1 received

You've received a lot of good info so far. I would echo what has already been said as well as advise you to expand on what tpredictor has stated and educate yourself on Auction Market Theory. Having a good grasp of this will enable you to gain valuable information while doing your "homework" before your trading day begins as well as while the day transpires. A good source for information is Dalton's book Mind Over Markets as well as FT71 who was mentioned earlier in the post. He has a wealth of knowledge on youtube that delves into Auction Market Theory and homework topics. Also, his daily traderbites as stated earlier are great at offering you a glimpse at what a pro trader looks at prior to their trading day. Good Trading to you!

Reply With Quote
The following user says Thank You to TT777 for this post:
 
  #10 (permalink)
Elite Member
Dallas Texas
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 5 since Mar 2017
Thanks: 5 given, 4 received



TT777 View Post
You've received a lot of good info so far. I would echo what has already been said as well as advise you to expand on what tpredictor has stated and educate yourself on Auction Market Theory. Having a good grasp of this will enable you to gain valuable information while doing your "homework" before your trading day begins as well as while the day transpires. A good source for information is Dalton's book Mind Over Markets as well as FT71 who was mentioned earlier in the post. He has a wealth of knowledge on youtube that delves into Auction Market Theory and homework topics. Also, his daily traderbites as stated earlier are great at offering you a glimpse at what a pro trader looks at prior to their trading day. Good Trading to you!

Thanks! I actually bought Dalton's book. And I have gone through several of FT71 videos and trader-bites (which has been a BIG BIG BIG help).

Reply With Quote

Reply



futures io > > > > Study prep for the Emini

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

FuturesTrader71: TBA

Elite only

Al Brooks: TBA

Elite only

Jigsaw Trading: TBA

Oct 19

RandBots: TBA

Oct 24
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
DTs Pre Market Prep DionysusToast Trading Journals 1087 Today 05:57 AM
Paps pre open prep paps Trading Journals 371 September 18th, 2017 04:17 PM
ES Morning Prep- Beginning the day with a long/short bias JACKATK Emini Index Futures Trading 6 January 1st, 2017 10:02 PM
Scotty's Topstep Live Trader Prep Journal for the AMAZON GC Scottybro Trading Journals 5 December 16th, 2015 11:25 AM
Color bar study always outputting 0 to spreadsheet study vegasfoster Sierra Chart 2 January 3rd, 2013 12:30 PM


All times are GMT -4. The time now is 06:35 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-09-25 in 0.19 seconds with 38 queries on phoenix via your IP 54.81.44.140