A MIND MUSCLES FOR TRADERS COURSE
Hello! Hope your trading went really well this week. Rogerio here, strategy and performance coach with the Mind Muscles Academy.
The theme for my Trading Strategy Insights series this week is how to use fundamental analysis, more specifically CME data, to gain an extra edge for trading futures.
The idea for this theme came from a question posted by a member of our Strategy and Execution Workshops. On September 4, a member of the Strategy Workshop asked how I interpret Volume and Open Interest market data. On that day, Crude Oil prices went up over 4%, but both Volume and Open Interest showed mixed signals. Volume decreased compared to the previous day, and Open Interest barely changed. I answered that, in my interpretation, "the previous up move is not that strong.''
I also mentioned that this type daily market data analysis subject to change, depending on new information and news events.
Please login to the Strategy Workshop member area to see the CME report explanation.
Sure enough, the next day we had one of those false breakout days, in which price attempts to continue the previous move, goes up over 2%, only to fade in the middle of the day and close where it opened.
Entry, target and stop
I'm a strong believer that mixing different techniques, such as fundamentals, price action, and order flow is a key to success in trading. This is one of the skills we help traders develop at the Mind Muscles Academy.
I invite you to check our Strategy and Execution Workshop, a unique hands-on live training program, done in small groups, in which participants learn the process of developing and testing trading strategies and then improving their trading execution through the use of exclusive tools that we provide at Mind Muscles for Traders.
I hope you learned something useful for your trading in this lesson. If you have any questions, please post them here or send me an email at email@example.com
Required Disclaimer - Commodity Futures Trading Commission: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
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