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Hockey playoffs have been taking up a lot of my free time. Go Canucks GO.
SPY OMNI Trade 13 April:
SPY OMNI Trade 17 April:
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This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I traded Oscar’s calls yesterday and today. I am learning that the key to trading futures is to stay clear of the noise, keep loose stops, cut losers short, and take profits at the appropriate time.
SPY Short 10 April:
SPY Short 11 April:
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I suspected we may have needed to digest some of yesterday’s gains.
Trade 1: SPY Omni Setup
Trade2: MO
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This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
No futures trades on Monday or Tuesday. Trading the ES and NQ with Oscar is helping me get a feel for intra-day market direction. I STRONGLY suggest you watch his videos and see how the pros take your money in the futures game.
Monday’s Trade CEPH:
Tuesday’s Trade HUM:
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
No gap plays for me again today. I didn’t see any really great setups. I am being very choosey, and it is paying off the last couple of weeks. Unfortunately, I had my first losing month in 8 months, down R 2.9. It is good I had a losing month, as it improved my trading by forcing me to look for the BEST setups. Today I traded SPY as per Oscar’s recommendation.
SPY Trade Short:
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I have been following trades from Oscar Carboni’s website. He is a 24 year trading veteran. The initial protective stop in this trade is far wider than I am used to compared to the target in this trade. I am going to trade SPY along with him as he trades the futures contract. I subtract the fair market premium from the futures price to get the SPY price. I get that at indexarb.com. One more thing…..STOPS ARE IN, EMOTIONS ARE OUT!!
SPY Trade:
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This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I started watching Oscar Carboni’s YouTube videos off and on in February, but it wasn’t until I figured out how to use his rec’s that I started to regularly watch his videos. One thing that stood out for me initially was seeing Oscar wear his floor trading jacket each time he produced his videos. When I initially saw his videos for the first time, I thought, man this guy must have a very hectic schedule, trading in the futures pits all day, and then rushing off to do this video right afterwards! And then I found out that he was actually laid off from NYMEX as a result of the exchange going electronic, and was wearing his trading jacket just for the purposes of the video. However, once that New York Post article went public, his videos really started taking off in popularity.
Oscar has been through the crash of ‘87, Operation Desert Storm, the great bull run of the late 90’s and the first market session after 9/11. Suffice it to say that he probably knows something about trading futures. Recently, he’s been asked to be one of the speakers at the Money Show in Las Vegas, mostly likely a direct result of all the great work he’s done in the videos.
The OMNI is a KISS - based tool to assist futures traders with their own technical analysis (Oscar calls it your own “homework”).
The OMNI basically provides a trading scenario to the user. How do I use the OMNI? Well, I take a look at the buy/sell levels suggested the OMNI, and together with current levels of various contracts (eg. NQ, ES), I extrapolate that to determine what will be the potential scenario for the day’s trading session. For example, if the OMNI says buy ESM7 @1438, and ESM7 is currently @1445, then that means the likely scenario for the day is a pullback to some sort of a support level, and then a move back up.
But it also goes beyond that. The futures indices generally trade in synch with the market indices. So, if the thesis is an initial pullback to support levels, and then a move back up, I would be looking for something similar in individual stocks, especially ones that are components of indices, like AAPL, RIMM, GOOG, etc.
Prior to following the OMNI, I had no idea what the futures would be doing for each session, ie. no overall thesis in mind, and nothing to test against the market. But now, thanks to the OMNI, I have a thesis in mind going into each day’s trading session, and that goes a long way to assist me in finding the high probability trading scenarios (like the recent trade I made in ZG).
The OMNI is not 100% accurate (nothing ever is). What I’ve recently learned is that the buy/sell levels suggested by the OMNI should not be treated as precise levels, but more of general AREAS of support and resistance of which the trader should be mindful. Of course, sometimes the OMNI makes the wrong call. However, when it is wrong, I haven’t lost any money, and when it is right, I’ve made money. And, being able to profit from OMNI’s rec’s is a compelling reason for me to like it and to continue to use it. I think it’s a great tool to have when trading not just futures, but also when wanting to trade the indices (or even just to stay informed of the direction of the indices), like SPY, QID, IWM, etc. Hats off to Oscar Carboni, the man behind the OMNI who shows that life clearly does not end after you get laid off !!
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
