Emini Wizard System (EWS) – Are You Ready?

For those who might be peering into my trading journal, I offer you some insights into EWS – Emini Wizard System. I am a charter member of ‘E-Nation’ since membership opened on July 4th of this year. Whether by coincidence or design, it was truly a day of independence. Not only was it a day to recognize freedom for a country but also another step towards sovereignty and success as a trader.

In my journey to learn and survive in this trading biz, I feel I have picked the right paths of education in order to advance my understanding. Discovering the Eminiwizard is one of those paths I took along with a leap of faith based on my intuition that “this felt right”.

In advance of membership opening up, I had been following ‘E’ on Twitter and had exchanged a couple emails with him from which, I established a trust in his character and his mission. The EWS and ‘E’ have far exceeded my expectations and it’s only the beginning as I found what I was looking for, that next part of the trading journey that will take me to the next level.

I have put in hundreds even thousands of hours of screen time watching the ES, looking at price action and patterns, tracking pivots, globex HH / LL, daily ranges, etc. but something was missing. It was structure. How do I correlate all this information into a trading methodology? I needed help and I found it with ‘E’. It is truly a blessing and a gift to have crossed paths with this humble man of the market.

‘E’ is an educator by profession. He teaches us HOW to trade, not WHAT to trade. “Give a man a fish and he’ll eat for a day, but teach him to fish and he’ll eat for a life time”. ‘E’s teaching us how to fish. Sharing the knowledge he has acquired from over 16 years of trading experience, he explains in detail (as the market is setting up and as it moves) the breakdown of the day to day ebb and flow of the market and the psychology behind it. This is a daily experience members observe and participate in while in “the class room”.

The price is unbelievably affordable and for what we get it is worth many thousands of dollars more than what he currently charges. The synergy within the member’s site is growing stronger each day as more members contribute to helping each other navigate the site or share newly gained EWS knowledge. Learning, sharing of information, making the site more user friendly is encouraged by ‘E’ as he promotes questions to be asked and asks for and enjoys the collaboration of members to make the experience within E-Nation more dynamic. Every member who is participating will tell you the same thing, ‘E’ and EWS is absolutely incredible.

EWS is not for everyone. If you are looking for the Holy Grail, good luck and keep looking. If you are a trader without a deep passion to succeed in this biz, don’t waste your time (or ours) nor your money. But, if you are willing to put in the time, want to join a team of like minded traders who expect to achieve a high level of trading success then you may want to consider joining EWS.

The system is working for me as well as others within the community and I wanted to share some of my insights and observations through my blog. It won’t work for everyone, just like any one market indicator that’s used by one trader will not be preferred by another. If you are ready to turn over the next rock, journey down the unknown path and are looking to take your trading to the next level of understanding, then I encourage you to consider joining E-Nation. What do you have to lose other than more capital while you try to learn in a way that has yet to provide you with desired results? So, are you ready!?

Trade Well !

Friday Log – Trade Deadline

GDP eco report, Chicago PMI pre and post market open as well as last day of month trading deadline were on the radar today. Was ready to trade price action in live account. Saw a long opportunity once price headed south to 80’s. Although I entered in 81’s and could have waited for lower risk at 78-78’s, I was in as I looked at the weekly middle and hourly chart MA’s as support. Took a bit more heat than I wanted but I had my stop just under the weekly middle. Price bottomed at 78’s and so my thinking was EWS logic. I let the trade work, scaled out at 83’s and last of position out at 88’s. Result: +8.75

After 1030, price started to develop a range. I took one live and 1 sim trade, both getting filled in 87’s. First target was 86 as I was thinking 2.50 from the 88.5 high. The live account I did not leave a runner and was flat at 86. On the sim I scaled out half at 85’s and had a runner left to pick up the whole 5 point move. Paper vs. live, paper wins.
Result: Live +2.0; Paper +5.5

I’m starting to dip my tow into the live trades with EWS while also working the simulated trading. The scalp trade today shows me the difference in reward when I let the trade work to its potential. My intention is to let the sim trading help to adjust my thinking, trust and confidence in my live trading as I apply EWS logic as well as TC set-ups.

Today is full of deadlines. I wanted to have my trading done in the AM, did not want to get caught in the potential volatility of the afternoon (other than maybe a sim trade) since this was the last day of the week and month so anything could happen. There is also the MLB trade deadline, all of which were on the 1600-1615 cut-off timeframe. I was well ahead of making my trades while there was something there in the low risk category. Like a major league team, look for the good trades early, be aware of the deadlines and beat the crowd.

Trade Well !

Thursday Log – It’s All about Looking Good

During my pre-market planning, I was expecting the Thursday Jobless report to offer a trade opportunity. The set-up was there as price was below the globex high around a pivot level. I set the “Hot-Box” trade short in 85’s and long 76’s. High risk but high reward. I wasn’t risking more than 2 pts on the potential move.

I filled in live account with 85’s short and was waiting for price to revisit 82’s. Reset stop once price went into 83’s to break even and was stopped out. There was a second surge up to 86’s on lower volume so I went back in short @ 86. Took the entire position off @ 82’s, just above recent support and EWS method. Result: +7.75

Back to the sim during regular trading hours, I missed the move up and waited for pullback. Got in long at 89.75 with TC set-up but only gave it a 1 point stop. Stopped out and did not take the upside move from 87’s which was angel support territory. Result:-2.0

Failed to pull the trigger in 91’s during the afternoon range chop. Very tough to fade a strong trend. Waited for the second time up and entered 91.75 with 1 point risk, 2+ reward. First target was 89’s and extreme target was 85’s. Thinking was 94’s wanted 84’s and I wanted out before the profit taking. Worked well and actually turned into the CE trade on the final C. Result: +8.0

These are the final days of the month so the “Big Boyz” will be looking to improve the look of their portfolios by driving the market higher. It’s all about looking good. For this trader, it’s all about trading well!

Trade Well !

Wednesday Log – Chop it in Half

Trader Tip – When sizing up the market, use different timeframes. Determine which one is “working” when identifying support and resistance. Once a timeframe is found, continue to sift through other timeframes during the day. The one in play might change.

I was able to identify a trading range prior to the open thanks to working with the EWS. With the Beige Book planned to be released at 1400, I figured my best shot would be during the first hour. Most indicators were pointing to a downward bias so I waited for resistance level in 74’s to hit. Entered 73.75, just below PP with stop @ 75.75. Planned to scale out 50% at 72.5 and flat at 71.25. Result: +4.0

And that was it for the day. I avoided “The Book” @ 1400, had a couple of trade set-ups I felt good about in the PM session but did not pull the trigger on. “Listening” and acting on my intuition is an area of development. I just bought the book ‘Blink’ to help me “see the light” and help me act on my intuition.

The day was “chopped” into tradable pieces as identified by EWS. There are some very good traders in the chat that are sharing their trading knowledge and methodologies to help us learn. The “pieces” are there for the taking and soon I should be participating more often.


Trade Well !

Tuesday Log – Keep “Swinging the Bat”

Thanks for the baseball analogy ‘E’. It really makes sense when we are planning a trade.
We need to know what the situation is, if we swing are we looking to make a productive out, put the ball in play, try to get a hit or be aggressive and go for the fences.

Trading and baseball are very similar. It’s a game of failure and averages. If we strike out, we look to our next at bat and swing the bat again. .300 hitters “fail” 2/3rds of the time yet they are considered to be the best in the game. The next AB, they know that their ability and their average will deliver the hit eventually because they “are due”.

Same with trading. When we are wrong, we adhere to our stops and wait for our next trade (AB) set-up. If we are in a profitable day, we lower risk but might be more aggressive with our target. This was the theme for me when comparing yesterday and today.

Yesterday I was in a couple of bad trades, but dug out of the hole. Today, I started out well and ended well. Shorted after I realized the range. I wasn’t looking for the “big” trade. I was looking for scalps (singles). I was conservative throughout the day, pocketing “small” profits while giving a “little” back. Result: -0.75/+10.5/Net + 9.75

At the end of the day, I saw a trade set-up at the lower end of the range (not lowest) but wasn’t positive it wouldn’t go lower so I put on half the position I normally would have, thus reducing risk. Went short with 74.25 and stop under today’s open of 72.25 and was stopped out. Then, I saw a lower risk set-up in the 71-72’s and put on a full position long at 72.35 with a tight stop under the recent doji low.

I scaled out with 50% off with 2 pts and the last of the position I was more aggressive with a trailed stop up to 76’s which was my extreme target. Entry to exit I had a total of a 5 tick difference between the LL and HH. I trusted my plan (my swing) and worked it. Result: -2.0/+ 5.5/Net +3.5.

I kept swinging the bat. Yesterday and today, I took my cuts and eventually my ability to achieve success trumped my “failure”. I moved on, looked forward to the next AB and summed up the situation. I still need my batting coach (E and E-Nation), but with more practice, every at bat will be considered successful.

Trade Well !

Monday Log – Home in the Range

The morning started out innocent enough. Still working the simulator, I was combining a TC set-up with a EWS set-up but they were divergent of each other. EWS won the strategy arm wrestle as TC called for a long, EWS called a possible short. Was not nimble enough to take the other direction when wrong and by the time I realized the short opportunity, it was too late and was not going to chase. Result -5.25

Then I got caught playing the middle of the range. High risk, low reward, not smart. Once I was in “no man’s land”, you can stick a fork in me, I was done! This is a mind game area that I must control or avoid all together. I found myself chasing my tail on 2 trades in that middle area, finally found my brain (it was near my tail today), and stopped the losses. Result: -12.5

I regrouped, took a break then came back and looked at the EWS guidelines and took a low risk entry in 72’s, expecting middle of the range and eventually 79’s to be revisited. Starting at 1345, I got long. First target was 76’s which hit. Internals were waking up so I bought more on pullback to VWAP line still expecting 79’s. I had 3 C’s on from this point, scaled out at 78.25 and then 79.75 in the final minute. Result: +21.5

The range was identified early but I was on the wrong side as I combined the systems while divergent…lesson learned. I will not work one system when the other is not confluent or if I realize one system set-up trumps the other. Once I found my sense after losing it, I re-evaluated the range and set my sights on 79’s as “home”. I worked the trade, had confidence in my ability and observed the EWS system to get me out of the hole. I worked the trade and dug out. It’s obvious I still have an ability to lose as well, thus the sim trading for now.

So the early possible range was where “home” was and that is where I eventually found safety. The system(s) work, but the EWS has the power to see the future or at least plan for it. In the past I would be shell shocked and apprehensive to get back in. Now it’s easier to look in the mirror, evaluate, make adjustments and continue to trade when logical. A little luck helped today as well but identifying the range makes it much more homey.

Trade Well !