Trading for living
Trading is something you've decided
you want to do. Trading for a living is not something taken lightly. Trading is
the greatest equalizer. The mindset of professional money
The visual patterns, the bar types,
that identifies professional money as they enter or exit the market.
Will the bars be OHLC, candlestick, or Market profile? If ticks, how many ticks? If
time, what time frame, or frames? Will you scalp, or position trade?
There are dozens, if not hundreds of
systems that are utilized by traders to enter at an advantageous point to
profit in e-mini trading. The problem with system-based trading is that they
tend to work well in certain markets and not-so-well in other markets. Unfortunately,
e-mini trading does not work that way, nor does the market. So we, as traders,
are forced to find a trading methodology that produces positive returns in a
range of market conditions; which may range from bracketed markets to trending
markets.
In nearly 5 years of trading not
much has really changed in price action and market movement. That being said, I
am a huge fan of scalping in e-mini trading and am not served well by lagging
indicators, which are one of the problematic variables too many traders rely
upon in their trading. For me, I prefer to trade the "outliers" of
the market. I try to take 3-5 high probability trades during my trading
session, which is from 6 am EST to 12 noon EST. Sometimes, there are not enough
Reversion to the Mean trades in that period.
I am also a huge adherent to Order
Flow trading. Order flow has been a staple at the institutional level for years
and most of my friends still trading at that level claim they couldn't trade
without it. I have described two of my favorite set-ups, outlier trades and
order flow trading, and have suggested that these two trades have a high
probability of success when used in conjunction with an order flow program. Generally
speaking, I am lost without order flow because each trade becomes simple
conjecture on my part; and I'd much rather look at the quantitative qualities
of the trade than watch oscillator/indicator lines cross after a good part of
the trade has occurred.
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