Course Overview: Futures Day Trading
Professional Development Program
The primary error committed by unsuccessful day traders is initiating trades without adequate preparation, resulting in the depletion of their accounts. This mistake instigates the formation of self-sabotaging patterns that are challenging, and often insurmountable, to overcome. Learning the art of day trading in the correct manner is of utmost importance.
Day trading introduces a significantly heightened level of emotionality. In these rapidly fluctuating markets, it becomes crucial to comprehend the tools employed by institutions and professionals. One must acquire the skills to trade akin to professionals; otherwise, they risk trading against them.
Three fundamental pillars of order flow trading necessitate understanding:
- Tracking Big Orders in the Book
It is imperative to master the skill of interpreting the real-time book of orders, a top-priority ability for institutional traders, also referred to as level 2 or “market depth.” Identifying substantial orders allows one to forecast future price movements and determine optimal entry points for trades with minimal risk and high probability. A day trader must be adept at reading an auction.
- Monitoring Changes and Movements in Institutional Orders
Observing whether new buy or sell orders are entering or exiting the market is crucial. This skill aids in gauging the strength and momentum building up for a future market move. Identifying orders in motion within the book is equally vital, as it verifies or rejects price levels and significant market movements. Detecting fake-outs, reversals, and continuations is essential.
- Market Imbalances
Understanding how and when market orders are executed is vital, as these orders drive market movements. Comprehending imbalances assists in identifying high-quality entry points, identifying stop runs initiated by retail traders, and pinpointing where significant transactions are executed. This tool alone provides precise entry and trade management, offering a substantial advantage in one’s trading strategy.
- Introduction to Futures
- Basics of Market Structure
- Types of Charts
- Principles of Volume
- Volume Profile and Auction Market Theory
- Market Correlations
- Depth of Market (DOM) and Order Types
- Patterns in Professional Inventory
- Footprint Charts – Identifying Market Imbalances
- Delta Divergence
- Formation of Trading Zones
- Techniques for Risk Management
- Strategies for Pullback Trading
- Strategies for Breakouts
- Fading Strategies
- Strategies for Trade Exits
- Scaling Plan and Routine for Account Management
BONUS: Examples of Trades and Demonstrations
More courses from this author: Tradepro Academy
- Lectures 1
- Quizzes 0
- Duration 10 weeks
- Skill level All levels
- Language English
- Students 0
- Assessments Yes