My friend @AnthonyCrudele says, “trading is a journey of oneself” One of the ways I interpret that is that along this journey, you have to arrive at the approach to markets that fits you. This means if you are developing you will need…...
to be exposed to a number of ways to approach markets. This means learning from different practitioners. I understand this is a challenge. However, let’s say you want to gain skill expressing skill in intraday directional trades in the #ES_F….
I can certainly get you started w/a solid foundation, but let's say you want to hone focus on the open. Then, you should spend some time w/@paxtrader777.
Or, let's say you want to "trade the narrative" using developing value across timeframes, then you should learn from @merrittblack
Or, let's say you want to focus on trading from "level to level" in the #ES_F then @eminiplayer offers good insight.
Or, let's say you want to focus on structure and where stops are laying from an institutional perspective, then @vwaptrader1 can offer great insight there.
Or, what if you wanted to trade the indexes intraday and use options alongside the profile to "get into size"...well then you should learn from @PaulAsmar5
Or, let's assume you come into the markets everyday #YOLO with no plan. If you haven't watched @FuturesTrader71 trader bites every day for a month....I don't know how to help you.
Oh, and lest we forget....the godfather of organizing the #ES_F auction using the Market Profile graphic...@daltontrading
These are all practitioners (& educators) I know and trust. All of us have spent some time on the institutional side of this business and we work w/developing retail traders b/c we know you didn't get the chance to work on the floor or "upstairs."
Oh, and get this....these are all names to help with intraday directional trades in the #ES_F. This says nothing of the other great products and ways to approach this game with pairs, spreads, options, swaps, etc.
So, if you haven't found your feet yet. Take heart. Keep digging. Find a voice you can trust and then ask them for other recommendations or people you can learn from that will expand your understanding of the mechanics of the auction and hopefully offer you space...
to creatively find the approach to this game that makes the most sense for you.
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With #UkraineWar in focus, lots of #futures traders talking about Wheat. This has certainly impacted #ZW_F. We’ve seen a number of limit up days and the composite profile is thin. Here’s a way I’m playing Wheat….
I sold the May 980/990/1485/1495 Iron Condor for 4.25/cents per spread. As long as #ZW_F is trading above 995 and below 1485 in 43 days I'll get the max profit...but likely manage before...
This is a VERY affordable trade. Buying power should be around $225/spread and that's your max loss. It's 1:1 risk/reward, but actually better because the short legs have a .20 delta which means I have 60%+ chance of capturing the full profit.
Some thoughts about freedom and trading on "Independence" day.
Each year I listen to a recitation of the declaration of Independence and I reflect on the war for independence. Not just the war itself, but the struggle and grappling by the colonists to pursue what they believed "independence" offered them.
Some of it was no doubt just as they expected (freedom to chart their own course as a nation), and some was not (you mean it's all on us now?).