The Daily Market Forecast... sleep trading
Tuesday’s Blog Results: A strong gap up had all the money earned during the Globex session (see chart). Price continued higher but the volume levels were congested. The Suggested short was only good for a 5-point scalp.
Today’s Trading Tip: Sleep trading?
One of the many great features in the Futures market is the Globex session. Most popular Futures contracts start trading at 6:00 PM ET. That’s 15.5 hours before the opening bell the next day.
The participants and trading are different than the day session. During the day the big volume traders are way more active causing price to jerk around more.
Here are some interesting Globex statistics based on profitability and gleaned from our database of nearly 10,000 trades using Volume Profile:
- The best times of day are all in the Globex session. 8:00 to 9:30 AM ET is best, 6:00 to 9:00 PM ET is a close second. Even day workers can day-trade now!
- During the first 30 minutes of the Globex session Breakout trades are big winners. Reversals are net losers.
- Shanghai opens around 9:00 PM ET and frequently leads the S&P futures in its direction.
Placing set/forget trades during the Globex adds a whole new dimension to your trading performance. You’ll need a solid rule-based plan with positive results. That’s what our Team Members receive every market day at 5:15 PM ET.
If you’ve been interested in joining our team but can’t make the morning Zoom sessions to trade live, here’s some good news. Now you can…
- Learn our trading strategies online
- Receive two trade plans daily, one for the Globex Session and one for the Day Session.
- Know in advance several great S&P turning points every day.
- Have access to dozens of custom indicators to simplify and enhance your trading.
- Join our WhatsApp off-hours trading team for real-time collaboration.
- Attend the LookBack (5) trade review session every weekend for live coaching.
All at a massive discount. Start waking up to some winners! Click here for the details.
Today’s Best S&P Futures Turning Points:
Short Level: If price trades below 4684.50 sell the retracement to there with a stop at 4688.75 (4.25 risk).
Long Level: Buy 4688.00 stop 4683.57 (4.25 risk)
Trade Well,
Mike Siewruk
P.S. Join us every Saturday morning @ 10:00 ET for our weekly LookBack (5) trade review session. Every trade for the week is analyzed. Now open to the public. Meet the team. Ask questions. Register here for the December 11th session.