When it comes to trading futures, it’s really important to have a robust trading strategy that takes the guessing out of what trades to take, and how to manage them. If you’re just trying to “read the markets” the high-frequency algorithms will eat you alive!
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Today’s E-mini Trades & Market Action
Today we went into market open slightly bullish, but with the understanding that sellers could slam the stock indices (like the e-mini S&P 500 and e-mini Dow) at any moment.
While the stock indices started off a little slow, we had a beautiful long in the Gold Futures (Symbol: $GC_F). I ended up closing 2/3 of the trade at the first target, then taking a 2 tick loss on the runner. Overall, it was about a 1 point quick trade.
Then we saw the stock indices really start to sell off after the first hour of the day. That lead to two amazing short trades in the E-mini S&P 500 (Symbol: $ES_F) and E-mini Dow (Symbol: $YM_F). Here are some charts from the E-mini Trading Academy live market trading room:
Originally posted here: