Warrior Trading Blog

$22K/Hourly Wage in Emini SP +$762 | Steve’s Futures Pulse 200


Hey, what’s up, fellow traders? Happy Friday. I’ve got my Warrior Trading lid on and a big smile on my face because somehow, someway, in these extremely volatile markets, I still scored $762 in the E-mini S&P. And guess what? Two minutes. That’s right. Just two minutes of market exposure and $762. Now, that’s not my biggest trading day by any stretch of the imagination, but you know what? In volatile markets like this, sometimes the winner is either the person who loses the least or somehow, someway, still keeps it green. And that’s what we did today. I recorded all the action while it was going down live in the futures trading chat room so you can see how my analysis and commentary comes together on the E-mini S&P. I hope you learned something. And remember, be safe out there. These markets are absolutely wild, which spells opportunity, but it also means risk. Enjoy, and I’ll meet you back in the market soon. Trade well.

I got my Warrior hat on. See? Yeah, be careful, guy. I think that’s good advice today for sure, Matt. Key zone here. On a trade like this, again, I don’t want to risk this thing in my typical location across the entire technical low, across all three levels. I mean, as much as I’d love to get down below that 53.60, for me I don’t want to give $600 on this trade. For me as I’m looking at this thing, if this thing pulls back here towards that 54 zone, kind of getting close enough towards that area, then we start to get into the wheelhouse where my risk tolerance for a 10 and 30 minute chart to come into play.

I’m definitely not going to come down here, down below this 53.40 but even if I could get a pullback, it’s got to be closer to that 54 because then we get 400 and some dollars. That means if you’re trading a mini, you can get a $200 risk trade. If I’m going to enter it long here and again, the longer it stays up here, the more confidence we have in that, but for me, I’m going to have to put a stop.

It’s going to be down in here, probably 53.89 zone, right in this sweet spot here and then it’d be, I’d be relying on basically two areas, two bodyguards for the trade, so a long entry above here will be long. And then we’ve got this supply area as a support zone and then just this master point of control also. There’s not a whole lot of risks. It’s $300 risk on the trade. That’s a volatile one, that’s for sure.

I’m watching E-mini S&P here now. Still down 6 on a day. Here it is. This could still have this, for me, I view this thing as a slip and slide, could play a role in this thing here. The volatile market here today, volatile, volatile, volatile, volatile. Watching crude. Nah, it just popped up 54.28. See these technical loads down here staying down below these technical loads at 12 1/2. 11 3/4 offers decent risk on the trade. There goes crude. Dang it. I’m going to give that one an Aw shucks S&P time. Get long SNP. Moments ago 29.17. Got long. 29.17 in the S&P here. Stops coming down at 11 3/4. Here we go. We’re off to the races. 29.17. I’m long. The E-mini S&P, that would go 18 1/4, just like that long at 17 even or at 18 1/4, 19 1/2, off to the races we go. Watch it moving through slip and slide. Stops at 11 3/4, 11 3/4 right here. Nice little pop on that one.

Here we go. We’re going to test that technical high. We want to see this thing break above this technical high if it can get there. It’s having a tough time. That high comes at at 20 1/2. We’re at 18 3/4 right now. That quick, I’m going to grab 11 to 12 units. I’m just down to a single unit rate here. This thing is going to probably pull back. I might get a chance to reinitiate the trade in a moment at a pullback on this one. So again, I got just one unit, just like that. I bought 12 at 29.17, closed out 11 because the market wasn’t going to break that 20 1/2 for me. And so I sold that out at 18 so I end up getting a point out of that thing. But just like that and now he market’s pulling back. I want to watch to see if this thing’s going to pull back towards that 29.16 zone here. 16 1/2 might be an area, I’m still long so if it wants to break to the upside and it’s going to be kind of a free trade for me here at this point. Here we go. There’s that 29.20 I still got one unit left on this.

That one’s up 1.62, up three times as many is where I took 11 to 12 units. Sellers are [inaudible 00:00:05:37], yeah, maybe a little, but I was on in the trade a minute. So we’ll see.

Here we go. The market’s breaking a bit higher here and I’m up $200 on that final unit. 29 1/2, 29, 29, 20 3/4. There we go. 21. we’re moving through that slip and slide now. Just sold out that last unit a moment ago. I’ll tell you where. Sold at 21 1/4. Okay, so a little snippet so far out of the E-mini S&P trade for 7.62. You’ll see that right here. 12 for 12, 7.62. You see 12 by 12 so far, but that’s about two minutes worth of work. Okay, so keep that relative to the amount of time we’re in that trade. And now we’ll look for our next opportunity.

We’re going to take a look at crude oil. Crude oil made a great, nice little pop to the upside, okay, so I guess kind of my concession prize was that E-mini S&P trade, but we were just talking about here. I was starting to look for a long entry here on this thing. I told you, staying above 54.20 was going to be a big deal. Look at the doubled back to back slip and slides pieced together here and then you’re getting that break to the upside. You’re also getting the break above the 54.47. I’m not in this trade. All I can do is tell you we were looking at it so I’m going to give that an awe shucks but hey, I made a few bucks on the E-mini S&P and let me see.

I’m going to tell you how long that took, E-mini S&P from entry to exit here. So 9:34 and we were out at 9:36, two minutes worth of work, $762. Kudos to those of you on the long side, those of you using your task market profile, we’re able to see this volume congestion. You’re able to see that master point of control, yellow horizontal line, which sets up a real nice support on the trade. Look at how the market gathers up support and then boom, there’s the big break, the explicit level with your supply area. Each and every one of you should have your TAZ market profile seeing that explicit level. Back to back long range bars is just a classic breakout through alligator jaws. You can see there’s the top alligators jaw line, the bottom alligator jaw line, 50% of the way, is a high probability target point all the way to the other side of the alligator’s top jaw line is, of course, cherry on top and it’s a beautiful trade now.

There’s two zones I was looking so I hate to give you a little woulda, coulda, shoulda on this one here, but I was telling you the first place was again looking if this market was going to stay above 54.20. It ultimately did, but while we were on the E-mini S&P is when it made its break and then I was looking to put a stop down here, 53.89. Again, I got to give this to you in woulda, coulda, shoulda, be about a 310, 320, 30 dollar risk and it’s off to the races here. Now you’re already up $400 on that trade just like that with that strategy.

The other one was looking to initiate on a pullback down here on some of these bars and then, in that instance, we’d be in a position where we actually could get just south of that 53.40, I’m sorry, 53.60 low value area. That was the two strategies I was looking at. I still wanted to share those with you because it was great thought process. You could see the trade came to life. I was unable to make money on it because again, we spent a little time on the E-mini S&P, just moments ago and simultaneously. This is when the crude oil popped hire. Okay, but it’s affirmation that this stuff is a, I don’t make this stuff up. This stuff works.

How you guys doing? Well how much you guys making on E-mini S&P and crude oil. Mario is up 1690 on light sweet crude. Beautiful thing. I was loving seeing some of you that are using the analytics, start to position yourself in that. What’d you say? 54.07 and then 54.16. Trader Steve approved entries. Beautiful thing. 272 for Alberto. How else you guys doing on on a crude oil and E-mini S&P on that pop higher?

Hey, I’m going to, you know as much as I want to say, darn it, missed a little bit on this crude oil here. Making $762.50 in two minutes. What’s that equal? What would that be for an hourly wage? Let’s find out. Right? Okay. 30 times 7 is 62 1/2. It’s only making $22,875 per hour. Hey, I think I’m worth it. I think I’m worth $22,000 billable wage per hour. What do you say? Anybody want to hire me? Kidding, kidding, kidding.

I’m looking at the chat here. Nice work, Mark. Made 250 like that. Joe made 400 on the E-mini S&P. Robert made 225 and 720 on the crude. Beautiful. 1500 plus still a runner. Beautiful job, Colin. 500 on the crude for Zen.

That’s all she wrote. So I’ll meet you back at the markets on Monday morning. Trade well and be well, everyone. So long.

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