Learn Candlestick Trading With Steve Bigalow

Steve Bigelow was one of the early voices of CFRN way back in 2005/2006 when we first launched. Our careers diverged as Steve moved into equities just as I myself was leaving the stock market to plot my new course in the world of Emini Futures. Our paths have crossed once again and I am excited to announce - Steve is coming back. To celebrate, we're holding a get-together - October 31st, 2012 @ 3:30PM CST, and the really good news, You're Invited!

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Fib Tips For Emini Traders - Part 2

Luke's Nephew: [on visiting day] Uncle Luke? Why can't you have chains? 
Luke: John-boy, lemme tell you something. You know, them chains ain't medals. You get 'em for making mistakes. And you make a bad enough mistake, and then you gotta deal with the Man. And he is one rough old boy.   (Cool Hand Luke 1967)

Fib Tips And Other Head Trips Part 2

As traders we are quick to put on mental shackles. Bind ourselves to a way of thinking that lives somewhere between no-sense and nonsense. We paid our dues ($99.95) to the indicator man, had a free lunch and spent 3 hours earning a degree from the traveling seminar man ($299.00) and now we're ready. Bring on those champagne wishes and caviar dreams. How did I live so long without hearing about this trading stuff? Oh well, no time for remorse but I do feel sorry for those poor fellows who haven't heard the good word and still have to earn a living by the sweat of their brow. Perhaps I can help a few out in the future in my spare time, but for now I gotta' get clicking and start making those ticks cause "Come on baby, daddy's about to get rich".

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Fibonacci Tips For Emini Futures Trading

"Pure mathematics is, in its way, the poetry of logical ideas." Albert Einstein

True Fibs For Emini Futures Trading

We addressed the topic of Fibs and Fibonacci in a previous article Fibonacci Made Simple. If you are not familiar with the man or the mathematics I do encourage casual research as Fibs can be successfully used for confirmation and/or projection when properly applied. A word of caution, Fibonacci Retracements and Extensions should always be used in conjunction with other indicators or methodologies. As a stand alone tool its subjective nature simply leaves too many questions unanswered.

There is no question at to the elegance and even precision with which these levels can be viewed after the fact. The most common levels are watched by a great number of traders and on larger time frames it is easy to see the hive mind at work which begs the philosophical question of "Predictive tool or self-fulfilling prophecy?". Either way, as long as we are able to enhance our trading performance through its use and armed with the caveats previously stated, lets go Fibbing.

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Recent Alerts - Current Margins - Contract Specifications

"Man looks in the abyss, there's nothing staring back at him. At that moment, man finds his character. And that is what keeps him out of the abyss."  Lou Mannheim

Recent Trade Alerts - Contract Specifications And Margins

Emini S&P  

Full Margin $3,850 / Day Margin $500

Consider being short ESZ2 below 1419.50 or long above 1437.00 #es #emini #futures #trading $ES_F

— DeWayne Reeves (@CFRN) October 14, 2012

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The Hard Right Edge Of Emini Futures Trading

"Life all comes down to a few moments. This is one of them." Bud Fox

The Hard Right Edge 

At the corner of Broken Dreams Blvd and Easy Street is where you'll find it. In fact it's staring you in the face right now. Look at your monitor, look at your chart, look at the last candle that printed on your chart, on your monitor, now pat your head three times...what comes next?

That's the hard right edge friend. You'll always find it in the exact same spot (patting your head is optional) but what comes next is not. It's where you earn your living as an Emini Futures Trader. Around the corner, just out of sight, like a fighter pilot in a snowstorm you have nothing to guide you but your training, indicators, and intuition. This is the place where you make the critical decisions that will make you or break you. It comes naturally for a few. Very few. Most of us will have to work hard, learn by the seat of our pants and it's a bumpy ride so strap in and pay attention because what I've got to say just might save your life.

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Statistical Anomalies In Emini Futures Trading

A little Emini History was made today. The sky isn't falling, the S&P is still comprised of 500 stocks and we're definitely moving higher from here unless we start to break down.

What Is A Statistical Anomaly?

There's a lot of big words on Wall Street. Even the retail trader on Main Street will be required to expand his or her vocabulary to include words like:

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4 Critical Goal Setting Tips For Emini Traders

"People with goals succeed because they know where they are going. It's as simple as that." Earl Nightingale

4 Critical Goal Setting Tips For Emini Futures Trading

One of the most common characteristics you will find among highly successful traders is they are extremely goal-oriented. In all walks of life, people are the most effective, happy and not surprisingly the most healthy both physically and mentally, when they have clearly established goals. From the small and mundane tasks such as cleaning your desk, to more important life issues ranging from child rearing to estate planning, knowing that you not only have a goal but that you are making steady progress towards that goal, creates a state of mental clarity, a sense of purpose and destiny, and is reported to even put a spring in your step and a kind word on your lips.

That's the good news. The flip side of the coin is that poorly planned goals can have the complete opposite effect. Once we firmly establish a specific goal our subconscious kicks in gear to get 'er done. This has nothing to do with will power it's simply the way we are wired. While establishing and pursuing goals can lead to a higher quality of life, unless they are structured properly they can also lead to depression and an overwhelming sense of failure. So before we start flipping those switches and the synapses start firing let's clarify some sound and solid principles that will become the foundational structure of every goal we set both in our Emini Trading business and other areas of our life as well.

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New Emini Indicator Predicts The Future

Breaking News: New Jersey housewife earns thousands per day in just 7 minutes from her kitchen table wearing pajamas. Husband quits job, kids now attend prestigious private school. According to inside sources, this new Emini Indicator has an algorithm so powerful it even works on Stocks - Options - Forex and REIT's. Major Banks, along with the world's largest Hedge Funds fear collapse as inventor/programmer, disgusted with Wall Street greed, reveals secrets that Billionaires and the Uber Rich have kept hidden for generations. 

New Emini Indicator Predicts The Future - Creates Instant Wealth

How many of those emails did you get today? Chances are, more than two. You may have also learned that an African Ambassador whose health is failing, has been secretly stashing away hundreds of thousands of dollars (shillings) over his 40 year government career and amazingly, he's chosen you out of the 7 billion people on planet earth to help him move it out of the country.

Now who says, "Good things don't happen to good people"?

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When To Exit An Emini Trade

When To Exit  - Required Reading For All Emini Traders

Traders of all types: Emini Futures - Stocks - Options, spend a lot of time and money trying to figure out the "perfect time" to enter the market. We're guilty of it ourselves. We've built unique proprietary indicators that do an awful lot of mathematical heavy lifting in the background while we sit patiently in our tidy offices and wait... and wait... sip our coffees and iced teas and wait... against a backdrop of computers humming, our electronic warriors lifting, and sifting, and churning data while we wait... and then the signal comes in, we check and double check, shift time frames, verify volume, compare our oscillators to the Tick, Trin, and back again. Sometimes we pull the trigger but most times we wait. 

We fail to confirm on the Advance/Decline or the RSI or Woodies CCI and so we wait...

Sounds a bit strange, odd, possibly even mad, but we're traders and that's what traders do. Truth is, entering a trade takes no education, no degree, no experience, no Fibs, Fans, Arcs or Pitchforks. It's one of the simplest things in the world to do. We flex one finger and it's done. Turns out, not one trader in the history of trading ever made a dime entering a trade. The only way to make money on a trade is to exit. That's correct, it's the getting out that pays the bills, carves out a career and creates legends, not the getting in.

Now that we have our mind right let's talk about the truly important side of the equation - the exit. There are only three reasons to exit a trade:

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Price Coil Creates Powerful SP500 Trade Setup

Price Coil Creates Powerful SP500 Trade Setup

Whenever we see extended price consolidation at a Weekly Trading Zone we anticipate a powerful move. Today was certainly no exception. The most difficult aspect of trading a consolidation, or coil as it is often referred to is patience. Price spent a total of 14 hours coiling at the 1451/1452 Zone before we called an entry based on the hourly chart and a secondary chart pattern which I will be teaching in the near future. Just before the Live Trading Room session ended we suggested that if the market presented the opportunity to buy 1451 on a pullback that the upside potential was significant.

During the 30 minute break which we take each day between the Trading Room and the Emini Daily Radio Broadcast the entry was triggered and the trade only suffered a 2 tick draw down. On the chart below you will see the entry highlighted by the first yellow arrow. The initial target in this case was the previous swing high at 1457.75 which occurred 2 candles prior. Based on recent market ranges an intraday shot at 6.75 points for a 2 point risk is very acceptable. The previous swing low was 1448.75 so using as much as a 3 point stop for a potential gain of 6.75 is still in our book well worth the risk.

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