Marshall J.Jones – Learn to daytrade the emini SP 500
How does it work? … Simple-as-123
There are three stock indices that we look at after the market opens for the US Session and throughout the day, they tell me which way the E-mini S&P is going. They are not indicators in the true sense of the word, but that’s what I call them. The “indicators” are used to gauge momentum and market participation. The markets are made up of buyers and sellers and there is a constant battle going on that is tracked by the markets going up and down. The Stock indices open up at 9:30 Eastern and 6:30 Pacific Monday through Friday.
The Trading Indicators
We Look at 15 minute charts of the Dow Jones futures, emini Nasdaq Futures and the emini S&P 500 futures from the CMEGroup exchange
So in it simplest form if all 3 indicators are moving in one direction then you should enter an order to go in that direction i.e. “go with the flow” or trade using market momentum.
As defined in the dictionary:
- Simple Physics. A measure of the motion of a body equal to the product of its mass and velocity, also called linear momentum.
- An impetus of a physical object in motion. b. Impetus of a nonphysical process, such as an idea or a course of events: The soaring rise in interest rates finally appears to be losing momentum.
- Philosophy. An essential or constituent element; a moment.
Pretty much covers it! … Huh?
This is what I mean about trading momentum!
The measure of the motion and movement of the indicators we are looking at; that we use to make a trade…Dow, Nasdaq, and Emini S&P.
This is the most difficult part of this method to understand, and it’s also very subjective. I cannot make it mechanical, as you will see when you start to paper trade. Think of it in terms of dynamic movement like the planets aligning.
Nuance: We don’t make a trade during the first half hour. (We let the market settle down and wait for the first reversal or momentum to build.) You will learn this by watching for the first thirty days or so; when to trade at the open or wait for an hour or two. Many brokerages offer you a trading simulator to practice without risking real money.
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