The seminar will take place on Monday December 2nd 2019 and be held as a webinar, commencing at 6AM ET through 12PM ET.
It will comprise two sections:
=Section 1 - Trading Rules/Setups definition=
I will schedule a 60-120 minute webinar in the week prior (now scheduled for 1PM Thursday November 21st) to the main webinar/seminar itself. During this webinar as a group we will run through a set of trading rules.
I have approximately five trading rules I myself use in day to day trading. However, rather than simply replicate those we will come up with a set of similar rules which everyone agrees are an appropriate starting point.
These rules will cover some primary structures/setups such as:
Touches at proven support/resistance (with trend)
A flush/reversal at support/resistance
Trading a breach, using context to confirm
Support now resistance or vice versa
* I have noted many times in chat how ES regularly flushes overnight lows/highs just after the open. The ‘ES Open‘ rule can be just example of a bespoke rule that we can consider for inclusion if the group wishes to trade. We can design trading rules to accommodate these odd or vehicle specific situations also. So if the group as a whole wishes to create a rule for trading the Gold 10AM fix or Crude Inventories etc we can include that also.
The approach I use daily revolves around a systematic approach, applying black and white rules and trading the rules in an emotionless manner. By simply looking for ABC to occur and then reacting in a predefined manner we remove emotions and prevent ad hoc entries. By journaling these entries using an inhouse journaling system (Excel/Access etc) or something commercial like Edgewonk or Tradervue we have, over the long run, an ability to analyze which entry types are successful and for which vehicles.
Once the set of trading rules/setups is agreed as a group I will then document them and send to the group over the weekend between the rules webinar and the seminar itself. This way we each have a document from which to work on the Monday morning.
=Section 2 - Seminar=
The seminar will be on Monday November 25th and run from 6AM ET (11AM in London) through 12PM ET (5PM in London). It is being scheduled for these hours to coincide with the window of maximum liquidity, where EU and US hours overlap.
During this window we will start out by reviewing the trading rules from the prior week and I will answer any questions or queries that arise from them. I will then run through my usual morning routine. This will include shortlisting vehicles for potential entries, inserting alert lines (to prevent missing entries) and creating a trading plan. The trading plan is essential in determining actions based upon specific events. For example, if overnight levels in ES are 3004 (resistance) and 2985 (support) I will have already decided what actions I will take upon a flush/breach of these levels. Planning ahead in this way reduces the occurrence of "ES breached 3004 but now what do I do??". Instead the plan is predetermined so that if and when breaches occur it is a case of acting, not reacting. Otherwise time is lost trying to create the plan in real time in a hurried manner.
Often the trading plan will result in my adding a trading line to TrendSniper, so that it triggers if hit. We will look at which vehicles it make sense to do this for, as opposed to waiting for support/resistance to be hit to confirm. I will explain how I integrate TrendSniper/NinjaTrader into my process and show how and when I create automated entries versus those that I handle manually.
In addition the trade plan will incorporate discussion of trade management strategies for each shortlisted vehicle and entry setup. We will look at each in turn and decide which strategy applies to each. For example we might determine that Gold is looking particularly bearish and so a touch at support may require a lower confidence entry (impacting lot size, stop management and exit strategy) whereas ES is looking bullish and so a touch at support will be traded with a higher confidence approach.
Once we have a trading plan for the shortlisted vehicles and alerts have been created, I will resume charting. Monitoring charts in general and looking for potential entries to trigger based upon our set of predefined trading setups. In the event that an entry triggers we will take the position in real time and follow it to a conclusion. Whilst we await an entry to trigger we will review charts from the prior week and, again using the same trading rules, find entries that would have triggered and look to see how they would have played out. We can then use that prior week‘s entries to try to find strengths and weaknesses in the trading rules with an objective that by the end of the day we have refined the rules based upon this admittedly small subset of trades.
The overall objective of the seminar is five-fold in enabling participants to:
- see how defining a set of trading setups and dictating how each is traded assists in removing emotion from the act of trading.
- understand how the use of a trading plan for each vehicles reduces time slip when a move does occur, allowing you to immediately put the plan into effect rather than reacting and trying to make decisions in real time.
- see how I integrate automation (which you can replicate with limit orders with your own broker) on certain entries.
- learn how journaling helps to identify strengths and weaknesses in specific entry setups and how this can be used to refine and improve trading results. Also, how journaling can highlight personal weaknesses, taking inappropriate entries, chasing price, bringing a bias to the charts etc.
- understand how predictable behaviors in vehicles (ES flushing prior lows) can result in bespoke trading rules.
=Post Seminar Regroup=
If there is interest among participants, we will regroup several weeks after the seminar to review recent performance of the trading rules, looking at some of the entries which triggered and identifying strengths and weaknesses among the rules.
Seminar cost is $595 for the full day. If you are interested in attending the seminar please register using the SIGN ME UP button below. The price includes course materials.
Please note that I will restrict attendance to twelve places to ensure a suitable environment for a highly interactive day
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