Mike Reed
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Day Trading the SP Futures with Initial S/R and the NYSE TICK
A question that comes up often is "Does the area of support or resistance that is hit FIRST in the morning have special significance?" In most cases, the area of support or resistance that is hit FIRST in the morning has special significance. In the first hour of trading, the market's reaction to initial support or resistance is a good "tell" for the strength of the next move. For... (posted by Mike Reed 345 days 21 hours ago.)
A question that comes up often is "Does the area of support or resistance that is hit FIRST in the morning have special significance?" In most cases, the area of support or resistance that is hit FIRST in the morning has special significance. In the first hour of trading, the market's reaction to initial support or resistance is a good "tell" for the strength of the next move. For... (posted by Mike Reed 345 days 21 hours ago.)
Day Trading Futures
When day trading futures , you enter and exit all positions in the same day - never carrying a position overnight. Since the overnight moves of the market are difficult to predict, many traders avoid risk by day trading. Ironically, the public believes that day trading is the riskiest way to trade. THIS IS A MYTH ! Some traders day trading futures , make 1 to 3 trades per day, trying to catch the major intraday moves.... (posted by Mike Reed 345 days 21 hours ago.)
When day trading futures , you enter and exit all positions in the same day - never carrying a position overnight. Since the overnight moves of the market are difficult to predict, many traders avoid risk by day trading. Ironically, the public believes that day trading is the riskiest way to trade. THIS IS A MYTH ! Some traders day trading futures , make 1 to 3 trades per day, trying to catch the major intraday moves.... (posted by Mike Reed 345 days 21 hours ago.)
Trading Emini Futures vs Stocks
There are reasons why a day trader would prefer Eminis over day trading stocks, and vice versa. Here are a few major considerations. The edge… Stock trading can take advantage of the small and variable lag time between stocks and the futures. This can give a day trader who is trading stocks an edge, especially if he/she is a scalper. And, if you are trading a liquid stock which is highly correlated to... (posted by Mike Reed 5 years 67 days ago.)
There are reasons why a day trader would prefer Eminis over day trading stocks, and vice versa. Here are a few major considerations. The edge… Stock trading can take advantage of the small and variable lag time between stocks and the futures. This can give a day trader who is trading stocks an edge, especially if he/she is a scalper. And, if you are trading a liquid stock which is highly correlated to... (posted by Mike Reed 5 years 67 days ago.)
Day Trading Psychology - An Unspoken Rational Approach
If you put on a trade and your heart starts pounding, you are *not* ready to trade yet...Some people who aren’t ready to trade have other problems as well: 1. Pulling the trigger to get in 2. Staying with one trading strategy long enough to judge it 3. Letting good trades go bad Day trading psychology plays a role in these issues, and books have been written to... (posted by Mike Reed 6 years 87 days ago.)
If you put on a trade and your heart starts pounding, you are *not* ready to trade yet...Some people who aren’t ready to trade have other problems as well: 1. Pulling the trigger to get in 2. Staying with one trading strategy long enough to judge it 3. Letting good trades go bad Day trading psychology plays a role in these issues, and books have been written to... (posted by Mike Reed 6 years 87 days ago.)
My 10 Basic Rules to Day Trading
Everyone trades a little differently. The internet abounds with advice on day trading. The trading method outlined below is MY personal approach to trading. This method has worked for me for the last 27 years, and has helped me to avoid big draw downs since the mid 1980's. My style of support and resistance trading has helped me to make a good living trading. My advice on day trading takes some time to learn because... (posted by Mike Reed 6 years 199 days ago.)
Everyone trades a little differently. The internet abounds with advice on day trading. The trading method outlined below is MY personal approach to trading. This method has worked for me for the last 27 years, and has helped me to avoid big draw downs since the mid 1980's. My style of support and resistance trading has helped me to make a good living trading. My advice on day trading takes some time to learn because... (posted by Mike Reed 6 years 199 days ago.)
Day Trading - Moving Averages vs Support and Resistance
When day trading the SP and Nasdaq futures, do you rely on your moving averages more than your support & resistant areas? During the first hour of trading, the support and resistance zones on the SP and Nasdaq futures are the most important things to watch. The moving averages have not yet had a chance to come into play. After that, if a trend is developing I watch several key exponential... (posted by Mike Reed 6 years 215 days ago.)
When day trading the SP and Nasdaq futures, do you rely on your moving averages more than your support & resistant areas? During the first hour of trading, the support and resistance zones on the SP and Nasdaq futures are the most important things to watch. The moving averages have not yet had a chance to come into play. After that, if a trend is developing I watch several key exponential... (posted by Mike Reed 6 years 215 days ago.)
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