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The Day Trading Strategy I Use Every Morning at the Open — Transcript

by Bernd Skorupinski · 3,210 words · 461 segments · language en · Watch on YouTube

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0:02are you looking for ways to make your
0:05trading more profitable then you've come
0:07to the right place in this video I'm
0:09going to teach you the same day trading
0:11strategy that helps me manage 2.4
0:14million dollars in prop from capital and
0:16make profit consistent hi Traders my
0:19name is burn and I've been trading
0:20full-time for 10 years now I've grown my
0:22prop firm Capital to over 2.4 million
0:25dollars in the past year with specific
0:27proven strategies today I want to share
0:30with you one of those strategies and
0:32provide a detailed explanation of how it
0:34works and why it's so effective this is
0:37not just a theoretical lesson I will
0:39guide you through the Practical steps of
0:41the day trading strategy that has proven
0:43successful for me the strategy is
0:45applicable to all U.S Equity indices Dow
0:48Jones S P 500 NASDAQ and Russell you can
0:51use the futures or the safeties this
0:54lesson will cover what clobex is with
0:56the focus on the clubex breakout bait
0:58how it is used the topics to be
1:00discussed include setting up a club
1:01extrap to rules for trading using this
1:04trap and several chart examples of how
1:07it can be used let's begin oh yeah but
1:09this is basically our day trading
1:10strategy it's a day trading I make one I
1:12would make I make about two hours in a
1:14week on Globex
1:16um and that's enough for me I'm happy
1:18with that perform an ftml account it's
1:20it's perfect so I'm happy with that to
1:23better understand the term clobex let's
1:25review some history the Chicago
1:27Mercantile Exchange now the CE group
1:30created an electronic trading platform
1:32called the Globex trading system in the
1:35mid 80s
1:36although this platform was introduced
1:38early on electronic trading did not
1:41become popular until the mid 90s when
1:44the e-mini stock index Futures contracts
1:46were introduced
1:47the CME Group created this new style of
1:50all execution to compete with the eurox
1:52exchange its International competitor
1:55which is an all-electronically traded
1:57Exchange in the United States Futures
2:00exchanges used to rely on open out guide
2:02trading Pits on the exchange trading
2:04floors which required a large amount of
2:06personal to run smoothly and led to
2:09higher operating costs
2:11however CME Group recognized the need to
2:14develop an electronic trading platform
2:15to stay ahead of its International
2:17competitors it's worth noting that
2:20Futures exchanges were initially
2:21designed to serve a specific entity the
2:24commercial Trader the market
2:26participants that trade over 60 of
2:29Futures contracts daily volume are
2:31typically big corporations
2:34the Futures exchanges earn profits for
2:37every Trader contract commercial Traders
2:39or speculators who trade a contract pay
2:41commission that includes an exchange fee
2:44collected by The Exchange if an exchange
2:47uses trading pits and has high operating
2:49expenses they pass on the cost to the
2:52customers through higher fees per
2:54transaction on the other hand an
2:56exchange that operates on an
2:58all-electronic platform has lower
3:00operating costs and can offer lower fees
3:03to customers this can attract customers
3:05away from the exchanges charging higher
3:07fees the CME Group introduced electronic
3:10trading to its customers to retain their
3:12large commercial accounts this enabled
3:15nearly continuous trading in the Futures
3:18Market with orders being filled in the
3:20trading pits during the day and
3:22electronically After Hours the members
3:25of The Exchange who were Floor Traders
3:28did not permit the club electronic
3:30platform to operate during the trading
3:32pit hours because they depended on the
3:35orders coming to The Exchange through
3:37them to earn money as market makers so
3:39there were two trading sessions open
3:42outcry and electronic trading regular
3:45trading hours rth refer to the market
3:47trading sessions during the day while
3:49the trading pits were open after the rth
3:52session the clobex electronic session
3:54also known as the extended trading hours
3:57eth would trade until about 30 minutes
4:00before the next rth session opened again
4:03after going public on the NASDAQ Stock
4:06Exchange the same e-group embraced
4:08Electric trading with the clobex
4:10platform alongside to the open outcry
4:12lth session as a result electronic
4:15trading now accounts for most of the
4:17Futures volume however the rth session
4:20Remains the busiest even though it now
4:23uses electronic trading in the Globex
4:25System trading is done electronically
4:28using computerized orders including
4:30algorithms or manual buys and cells made
4:32by Traders this type of trading runs
4:35almost continuously 24 hours a day with
4:38occasional shutdown periods for
4:40maintenance and specific hours of
4:42closure the clobex system refers to the
4:45electronic trading platform used during
4:47the overnight hours
4:49while some Traders mistakenly refer to
4:52it as a session it's more accurate to
4:55think of it as a system so when you hear
4:58someone say they are trading the clobex
5:00session they actually mean they're
5:02trading on the electronic platform
5:04during those hours to provide additional
5:07details about the Globex session it is
5:09an electronic trading platform that
5:11operates during extended hours and is
5:14also known as the overnight session
5:16specifically for the s p NASDAQ Russell
5:20and DOW Jones the Globex session
5:22commands at 6 PM standard eastern time
5:24and ends at 9 30 am standard Eastern
5:27Time to clarify clubex is a system that
5:31trades continuously this means you can
5:34place a trade during either the regular
5:36or the old pitch session hours and it
5:39will still be part of the Globex system
5:40because it is traded electronically
5:42however for Simplicity and to
5:45distinguish regular extended trading
5:48hours we need to assign them time slots
5:50the trading hours have an extended
5:52session from 6 pm to 9 30 a.m Eastern
5:56Time known as the Globex session at 9 30
5:59am the regular trading hours or day
6:01session for Equity indices begin until 5
6:0415 PM eastern time when the new day
6:06officially starts to summarize the
6:08focuses on the clobex session from 6 pm
6:11to 9 30 a.m eastern time now let me
6:13share my screen now to start a strategy
6:16portion so what is the clubex breakout
6:18paid and how does it work this is the
6:21strategy portion of our discussion now
6:23during the overnight session the
6:25extended trading hours highs and the
6:27lows are formed on the chart you can see
6:30a high and the low that were set during
6:32this time which will help to set up the
6:35Trap
6:36today's session begins many Traders are
6:39familiar with the Globex High and the
6:41low price ranges we plan on using these
6:45ranges to catch novice Traders so for
6:47now our Focus will be on identifying the
6:50high and low prices during the extended
6:52Globex trading hours
6:56when the price rises above the highest
6:59point reached during Globex trading
7:01hours and regular trading has begun many
7:04Traders they become bullish and either
7:06buy the breakout or prepare to do so now
7:10when this happens when traders buy Above
7:13the clubex high into Supply level that's
7:16what we want to see the bullish or bulk
7:19low back strap is set and from there we
7:22look to sell from those breakout buyers
7:24again key thing here when it happens
7:27into a supply level that's very very
7:30important for us we don't want to just
7:32short randomly you want to show it in a
7:35supply zone so just to recap here price
7:38breaks above the Globex High into a
7:41supply level then we want to start
7:43looking to take that short trade we
7:45would set all this up ahead of time but
7:48that would trigger our entry to short we
7:51would be shorting from those people that
7:53are buying the breakouts above the
7:55global High
7:57now it works both ways obviously here
8:00when price breaks below the Globex slow
8:03so we are looking at the lows now from
8:06the low of that extended trading hours
8:09once the regular trading session begins
8:11again 9 30 standard eastern time once
8:15price breaks below the clubex low these
8:18trailers become bearish and they start
8:20planning for breakouts or taking
8:22breakouts in other words they are
8:24shorting so if they short into a demand
8:27level the bare Club is set and that's
8:30where we would be looking to buy from
8:33them so you can see on this chart here
8:35price trades below the clubex low right
8:40into rarely based ready demand Zone and
8:42that would have been a beautiful trade
8:44for us and not a good trade for those
8:46short sellers right below the clubex law
8:49and that is the Trap ladies and
8:52gentlemen all right so let's talk about
8:55how we do set up this trip how how do we
8:58make it easier for ourselves to place
9:00this trade well the first thing that you
9:03want to be aware of is this is really
9:05this whole club strap here it's really
9:07set up for the equity indices primarily
9:10could we use it in other markets sure we
9:13could try to see if it works well in
9:15other markets but really this is mainly
9:18in equity index type of play here so the
9:22s p NASDAQ the Russell the Dow Jones
9:25those are the markets that we want to
9:27focus employing this particular strategy
9:30all right let's take it a little bit
9:32more in a detailed look here in this
9:35chart here you can see that we have the
9:38regular trading hours or the day session
9:41the day hours now keep in mind this is
9:44all in standard eastern time so please
9:46make sure your chart settings has to be
9:49set to kind of exchange time as well now
9:53the chart that you see there is a day
9:57session of one particular day then once
10:02the day session is over and we begin the
10:04clawbacks or overnight session the
10:06extended trading hours it would look
10:08something like this during that time of
10:11the extended trading hours we would form
10:13a low price and we would form a low and
10:16the price would form a high so we would
10:18mark off there's a low and there's a
10:21high
10:23then on the current day here we are the
10:26regular trading hours or the day session
10:28begins again and we can see that here so
10:32really three parts to this here the
10:35prior day the clobex high and low and
10:38then the current day now during that
10:40clubex high-end and low one thing that
10:43we want to look for is well look at the
10:46range here the high to low range during
10:50that extended trading hours sometimes
10:52you get really big ranges you drain huge
10:56ranges overnight and that's typically
10:57caused by some big events either in Asia
11:00or in Europe that's causing a strong
11:02drop or a strong rallying price but a
11:04lot of times you'll get a very small or
11:07tight ranges too so the ranges will vary
11:09from day to day let's go through the
11:13step-by-step process of identifying the
11:15clobex traps I suggest writing these
11:18steps down or keeping them handy for
11:20future reference to clarify here are the
11:24steps Step 1 check the chart for Globex
11:26opening time which is 6 PM standard
11:29Eastern Time Step 2 note when clubex
11:32close which marks the start of the
11:34regular trading hours at 9 30 am
11:36standard Eastern Time step 3 identify
11:40the highest price that was made during
11:42the extended trading hours as clobex
11:44High Step 4 identify the lowest price
11:47that was made during the extended
11:49trading hours overnight hours as clubex
11:51low step 5 is to look for Supply zones
11:55above the clobex high but it's possible
11:57that there won't be any if there aren't
12:00any good quality zones then we won't
12:02take that trade step six is to identify
12:05the margins below the Globex law but we
12:07only want to focus on good quality zones
12:10step 7 is to get ready to take trades
12:13that meet our strategy Rules by setting
12:15up Trade Stop entry Target and position
12:18size let's walk through these here one
12:21step at a time here we go step one you
12:24see the chart example identify the
12:26chromex opening time 6 PM standard
12:29Eastern Time
12:30step two identify the Globex Closing
12:33Time 9 30 a.m standard Eastern Time
12:38step 3 identify the highest price that
12:40was formed during the Globex session
12:41which you can see the arrow pointing to
12:44it there
12:46step 4 identify the lowest price point
12:49that was formed during that extended
12:51trading hours step 5 identify any Supply
12:54zones that are above the Globex high
12:56that are located ideally in your time
13:00window of opportunity from 8 AM to 11 am
13:02your lower time frame high quality Zone
13:05should be located in your window of
13:07opportunity and we get ready to trade
13:11those if any remember if there was
13:14nothing there of any good quality then
13:17just pass on the trade
13:20so same for the demand zones on through
13:24your in Step six identify any demand
13:27zones that are located in your timing of
13:30opportunity ideally from 8 AM to 11AM
13:34below the global slope if there was
13:36nothing there again of any good quality
13:39then just pass on the trade
13:41and step 7 would be to go ahead and
13:45prepare the trade that meets your
13:47strategy trading rules all right ladies
13:51and gentlemen speaking of rules here's
13:53some rules for here some more routes for
13:55you Globe extract trading routes let's
13:57walk through this here for a bear trap
13:59step one we call this the trigger price
14:02breaks below the Globex low the mass
14:05reaction again Traders become bears and
14:07they plan for breakout or they plan to
14:10sell or they do sell to the downside and
14:14a trap condition is if they sell into a
14:18demand level payload X payloaded Globex
14:21law that's right where we want them
14:23where we trap the Bears so what's our
14:27action our action would be to buy from
14:29that mass reaction of sellers right into
14:32a demand Zone that is located in our
14:34time window of opportunity so that is
14:37the bear trap so we are trapping the
14:39bearish Traders so and the bull trap
14:41just the opposite really price breaks
14:44above the clubex high they are bullish
14:46that's the mass reaction Traders become
14:48bullish hence the bull trap and plan for
14:51breakout to buy or they do Buy
14:54step 3 Supply level above throwback type
14:57that's the Trap condition so if they are
15:00buying into that Supply Zone what do we
15:03do that's step four we sell or short
15:05into the mass reaction for those buyers
15:08all right let's walk through a few
15:11different examples here some real trade
15:13examples all right this first one that
15:16we see here we have a chart with the
15:18club X high club xlop that's our
15:20extended trading hours your clubex range
15:22from high to low and price breaks out
15:25above the topic side so again think
15:27what's our play here well when price
15:29breaks above the Globex High noise
15:32Traders they become bullish they start
15:34to buy they buy above that that's the
15:37breakout trade but look to the left and
15:39you can see highlighted over there on
15:41the left we have a supply Zone that was
15:43created in our window of opportunity
15:45from 8 AM to 11AM and that is where we
15:48want to sell short and you can see this
15:51one worked out quite well we have a very
15:53strong move to the down one side there
15:56all right here's the demand zone so this
16:00one would be a bear trap here's how
16:02clobex high too low here price breaks
16:06below the clubex low right into the
16:09monsoon off to the left over there and
16:11we have a nice move to the upside so
16:14there is your bear trap so again wait
16:16for price to trade below the Globex law
16:19right into the Milestone that was
16:21created in our window of opportunity and
16:23then would would basically set up our
16:25bear trap so now here's another example
16:28clubex high and low are highlighted
16:30there now take a look at this one
16:32similar scenario in that you have the
16:34clobex high and low price broke above
16:37the Globex High we did have a supply
16:39Zone off to the left over there but look
16:42what happened it kept going higher so
16:44pull trap did not work why this is where
16:47you really need to blend this out ahead
16:49of time and this is important that you
16:52understand this just because you have a
16:54strategy doesn't mean it's going to work
16:56every single time that's just trading it
16:58doesn't work every single time
16:59unfortunately that's just the way the
17:02way how it things work so we have to ask
17:05ourselves well self why did this trade
17:08did not work what do you think are some
17:10reasons why well that's going to get
17:13back to our total overall strategy we
17:16would ask ourselves well
17:19when we went short here
17:21was it low in the location was it high
17:24in the location was it in equilibrium
17:27was it a good quality Supply Zone what
17:30was the trend so that would play into
17:33effect so we want to go back and look at
17:35this when we set this trade up initially
17:38and really ask ourselves does this meet
17:41the requirements of a good trade
17:44am I high in the location of very high
17:47in a location if so then this trade has
17:50a much higher chance of working out uh
17:54working out compared to if it's very low
17:57or low in the location so keep that in
18:00mind when you're looking at these trades
18:02ask yourself where am I in terms of
18:05location and obviously what's my Trend
18:09what are my zone qualifiers is it is
18:12that zone good or not so all things like
18:15that
18:16remember we're looking for the total
18:19trade here the total package not just
18:21because price breaks above the Globex
18:23higher then we short it's a lot more to
18:26it than that and that's why I wanted to
18:28show you this example here to get you
18:30thinking about it ahead of time
18:33all right let's summarize the rules
18:36what is the ideal Soul it is a zone that
18:39is outside of clobex high and low and
18:42created between 8 AM and 11 am hence we
18:45want to trade Supply zones above the
18:47Globex high or demands on speed lower
18:49Globex law that are created between 8 AM
18:51and 11 am for increased probability of
18:54success
18:55and what is a bad Zone well a zone that
18:58is in between Globex high and low more
19:02summary here during the club accession
19:05eth highs and lows are created as soon
19:08as the rth begins most Traders will look
19:11at these clubex highs and laws as
19:14support and resistant areas as soon as
19:16the price breaks through the clubex low
19:18most Traders become bearish and plan a
19:21breakout trade to the downside a short
19:24trade if there's a demand Zone
19:26underneath the clubex laws Bears will be
19:29trapped as we would be buying from these
19:31sellers the bull trap is the exact
19:33opposite it is applicable to add Es at
19:36NQ at rty at ym and their cfts all right
19:41perfect that's it for this lesson stay
19:43tuned for the next lesson happy and safe
19:45trading everyone

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