Warrior Trading Blog

5 Minute Work Day +$720 | Steve’s Futures Pulse 171


And what’s up fellow traders? It’s Trader Steve. I am back in the saddle, first day back after my island retreat.

Just to recap, last Thursday, I had a one day challenge that I announced in the futures trading chat room. I said if by the end of the day I make $2000, I was going to pack our bags and take the family to an island retreat that we’ve been talking about for the last couple of months. Well, I did it late on Thursday.

Just in the nick of time, we packed our bags, we headed to the island. We just got back this week, in fact on Thursday, and today was our first day back, and we kept it green all week when we traded on the go.

On Monday, we made $840. On Tuesday, we found a nice comeback trade that made $2550, and then today, back in the saddle in my home trading station, we were able to grab $720 on a gold trading opportunity. In today’s futures pulse, I recorded the action on the gold trade so you can see why we took the trade, how it went down and why. In just five minutes, I am done for the weekend, and I’m going to go play a little golf. I’m outta here.

I’ll meet you back at the markets on Monday, until then, trade well.

Yeah. If you’re just tuning in, we just got long, 1394.5. I’ll draw that on the screen here. My gold is down big, you can see us down 25.5. We’re looking for a comeback trade here. We got long rate up in here, 1394.5. I’m on six units. My [stop’s 00:01:39] down here at 89.60, $4.90 risk per contract. Looking for the market and make a run towards the supply area up here, around 1400.

We’re exhausted over here in our TAS Navigator Indicator. Anything down below -40 on the navigator metrics, here is an oversold market as well. So we have an oversold market, the exhaustion warning is the pink color bars down here.

Look at the fall off in volume here, that you could see up up above on the 10-minute chart, which is what we see right here, and the 30-minute chart, we’ve got slip-and-slide long-range bars that could help yank the market higher on our long entry here. Okay?

We also see the market is bouncing off what we call the S3 level, support level three. That’s over here on the very far left, that strip pain that I’ve got there. Markets break [inaudible 00:02:30] the upset, 13.96, looking good.

Oh, but up $900 on my six-unit trade here on the gold. Symbol GCQ9, that’s correct, August Gold.

I’ll type it up here for you, so you can also see what it looks like.

There’s a micro and a mini gold contract, as well. Smaller-sized contract, more popular is actually the micro contract.

You can see the supply area in the 10-minute chart comes in at 13.99, 30, 1460 cents on the on the 30. So the 10-minute is right here, the 30 here. We’ve got a little room to navigate higher.

5th of July trading.

Most folks are … You know, a lot of folks are probably not in front of the screen today that are normally in front of the screen. They’ll get back at it on Monday.

Tell you what, I’m heading for the exit. I’m gonna go play some golf. $720 just exited a moment ago. Make sure you cancel your stop. I’m out of this one at [95.70 00:04:30] , made a $1.20, that’s $120 per contract on six units, at $720 over the course of what will end up being about five minutes here today. Okay? So cancel your stops.

Markets still has some room, for those of you gonna hang around the screen. You’ll see the market making a run towards this. If you’re looking for a place to punch a ticket at the meat counter, right around 97.5 would be a nice little break too. For $300 a contract, stands a good shot of getting there here, even in the minutes ahead, which would be nice.

Okay, I’m grabbing a $1.20 in five minutes on six units for $7.20. I think 97.5, there’s a good chance you can get there here in short order. We’re already at 96.80 for those of you hanging in at the gold here.

And the reason we’re picking that spot here is before you start running into some of these historical congestion zones, and what we call value-area lines, compliments of your TAS boxes, or what we call dynamic profile. You want to do your profit targets before you get to those zones. Okay?

If this market does give a break above that 1466, you can see, it really opens up up here. I mean, then you got another ready, it could run 10 more dollars. Okay? And I hope that’s the case. If any of you are keeping a runner intact, I’ve vacated my position. Remember there’s an element to trading where you have to keep some perspective on your time risk in the market.

So five minutes, $720. It’s pretty darn good hourly wage if you amortize that out a bit, right? But it’s a good setup. It’s still got some characteristics that I like. Again, for those of you that are going to continue to stay in front of the screens a little bit today, 97.5 will give you $300 a contract.

And then on the big one here, it could be a very interesting trade, is you start clearing the 1460 cent area. We’re almost at that 97.5. There it is, right there. $300 a contract for some of you. Anybody grabbed the $300 a contract? You out-trade the coach, beat the pro.

Zen’s hanging in there, waiting to see if we can get that break above that 1399. Guess what? That thing’s got some pretty good comeback characteristics here. So 1399 30, and then over here, 1460. If so, look at … You’re moving to slip-and-slide, and then you get in that big open territory there.

Remember, when you break above that supply area, that red line right here, you’re in an auto-balance bullish market at that time. This is what we call an early entry in the box, because we initiated it while still inside the congestion zone, inside that value area. And then you get that extra kind of wind at the sail, if you can close above those supply areas. That’s there, those red lines. Okay?

You’re already on the 10-minute chart. You could see now you’ve got some nice support. Oops, down below, because we’ve migrated higher above all that congestion, so that’s going to help the cause.

So congrats to those of you grabbing even more than me on the trade here. 1399 30 just a smidge away. Watch it, here it goes. I’ll even give you a little follow the yellow arrow.

Boxes, depending what platform you’re using, again, it uses the data that you have. Levels can come in at different places on different platforms.

Here we go. 1399, there’s the big break you’re looking forward. Zen’s holding out. Here, now watch this here as we make a run towards 1403. You can see they’ve adjusted here, even from where they were moments ago. Here comes that break. Got The bright, bright green color bar. That’s TAS Vega going to work for you, making it bright green so you can see as a bullish break up underway.

Nice job. What’d you guys make on the gold? I know you guys are making something, because you’re over here, high-fiving in the chat room. Good for you.

I grabbed the $1.20, and of course, hung on there just a little bit longer, even just five more minutes, right? I could’ve tripled that, tripled that. I don’t play the would’ve, could’ve, should’ve game. I’m going to hit the links first day back in the markets.

We traded profitably while traveling this week, as you know, Monday, Tuesday. That was exciting. $840 on a Monday, and ended up grabbing a little over $2500, $2550 on Tuesday. Traveling on Wednesday, so I didn’t do any trading at the airport. Holiday yesterday, and then five minutes worth of work, and $720 in the gold.

Next week, we’ll have a full week of fun and excitement. So I’m looking forward to rolling up my sleeves, if I have any sleeves with you, next week.

Today exemplified patience. We went through, we cycled through the market a couple times, and I was about this close to saying no trades today, which I’m definitely never afraid to do. I never trade just for the sake of trading. But then this gold caught my eye, and seeing those new levels appear on the 30, I wanted to take a kind of a last look at that. Sure enough, we had a nice well-timed trade there.

So Joe grabbed $200, nice. I mean, guys, keep these numbers here. These are good numbers relative to the amount of time that we had risk in the market. Okay?

You know, sometimes, “Big deal, $200.” At $200 bucks in five minutes, or less than 10 minutes? I mean, kind of put that in perspective. You’re making more than a high price Chicago lawyer. No offense to any lawyers here.

But $170 on one contract, for DG. Zen grabbed $900 bucks, because he was hanging out there. He said earlier, he was waiting for that 1399 and he got it. Good job.

Mark grabbed $635 on three contracts. Way to go. [Tarry’s 00:10:53] hanging in there. Are you going to hang in there to see if you can get that break above that supply area? See Mark, it retreated off that initial testing of the waters about 1399 30, keep an eye though.

Okay, [inaudible 00:11:06], you want to see a sink stay above is for sure the congestion, ideally above that POC that you see right here, the aqua color line.

David grabbed $500 bucks, beautiful thing. Jose grabbed a hundred. Dean, grabbed $240.

Nate, on the micro, grabbed $60. Everything’s relative. Remember micro, a fraction of the size, fraction of the risk. So $60 is right on par with everybody else trading the big.

I’m glad to be back. Thanks for you guys, following me on my travels, and my travel and trading. It’s good to be back. Enjoyed the beach. Beautiful Captiva Island, down there in South Florida.

[Bo 00:12:11] says his golf score was higher than your profit today. Hey, that’s going to happen sometimes. So you gotta work on two things, making more money, and then shooting a lower score, and the intersection of those would be a good thing.

All right guys, I’m signing off. I’m going to go hit the links, you’re following me on social media.

Remember, my handle is FuturesWarriors, the only official Futures Warriors social media handle, and there are imposters. Sad, but true. Well, imitation is the highest form of flattery. Please, do be wary of … Just because it’s a picture of yours truly, sadly, sadly, folks are out there looking to imitate me, to try and get you to direct message them. So don’t do it. FuturesWarriors is the only official Futures Warrior brand of Warrior Trading.

Good luck the rest of the way, and I’ll meet you back on Monday. Enjoy the weekend, everybody. I told you there’s always a valuable trading lesson inside these videos, and that’s why now’s the time to subscribe, so you keep getting alerts every time I post a new video, as well as the other Warrior Trading mentors.

Until the next video, happy learning.