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More About This Title Pivots, Patterns, and Intraday Swing Trades + Website: Derivatives Analysis with the E-mini and Russell Futures Contracts
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Initial forays into day trading stock index futures reveal a starkly different decision environment. There is no time to dwell on technical conditions. Intraday volatility in the stock indices is far more exaggerated than the daily bar charts of other markets, partly due to the extreme leverage, partly due to the intense attention. And positioning techniques that prove reliable in the action of the long-term trends in other instruments tend to fail in the countertrend reactions of the highly leveraged S&P futures contract within the short-term. For the informed trader, tremendous opportunities in these intraday trend swings can be captured. This book will show you how.
Filled with detailed technical models, this reliable resource skillfully utilizes innovative methodologies for trend discovery and trade entry in mini-stock index futures markets. It offers a fresh approach to understanding and capitalizing on market volatility, allowing you to sort out the apparent chaos of the day trading environment through codified and recognizable trade entry setups.
- Highlights trading techniques that are anything but mechanical scalping
- Explores conceptual event models and their accompanying rules
- Contains tools by which major intraday swing trends can be identified quickly and often at the very turning points where they begin
- Explains the underlying order and structure to the markets based on the repetitive nature of human behavior
Engaging and informative, this reliable resource will put you in a better position to excel in today's dynamic markets.
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M. WILLIAM SCHEIER is the owner and founder of ValhallaFutures.com. Will started his trading career as a stock and futures broker in the early 1980s, learning to trade his own account and advise his clients, while mentoring with a retiring cotton trader. He then trained on the floor of the CME's S&P pit. With the advent of electronic trading, Will shifted his focus to day trading stock index futures in the smaller time frames, transferring much of what he learned from floor traders onto the screen. He estimates that in his efforts to further his trading education, he spent more than twenty-thousand dollars on courses and materials vendors of technical analysis, but found little if anything useful for trading in the smaller time frames of the volatile stock index futures markets. Ultimately, he found success with his own, highly original analysis methods, which he now teaches in a live, ten-session webinar.
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Preface xi
Part One Time Frame Concepts
Chapter 1 A Three-Frame Day 3
Chapter 2 Opening Range Bar 13
Chapter 3 Pivot/Exhaustion Grid 23
Chapter 4 Dough Bar to Die Bar 49
Chapter 5 Leadership Divergence 55
Chapter 6 The Work-Done Concept 63
Chapter 7 Trading the News 69
Part Two Day Model Patterns
Chapter 8 Persistent Trend Day 81
Chapter 9 Test-and-Reject Day 95
Chapter 10 The Split-Open Day 103
Chapter 11 Day Model Sequence Cycle 105
Part Three Repetitive Chart Patterns
Chapter 12 The Momentum Grid 115
Chapter 13 Pre-Breakout Pause Pattern 121
Chapter 14 The Classics Revisited 125
Chapter 15 MA Pattern Concepts 141
Part Four Confluence and Execution
Chapter 16 Transition Time Reversals 151
Chapter 17 Trade Entry Models 157
Chapter 18 The Trade Plan 173
Appendix A Companion Website 185
Appendix B Color Legend 187
Appendix C Serial Sequent Wave Method 191
Appendix D ValhallaFutures Indicator Package and Intraday Index Futures Trading Course 195
Appendix E Screen Capturing an Event Library 197
Appendix F Randolph Newman 199
Appendix G Fibonacci versus Pivot/Exhaustion Grid 203
Appendix H The Last Triangle 207
Bibliography 209
About the Author 213
Index 215
