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« Automated Trading Systems And Strategies | Main | Emini Futures Trading »
Monday
Jun172013

Emini Charts | Digital Treasure Maps

(QQQ)(DIA)(SPY)(GLD)(ZNGA)

Emini Podcast

Emini Charts |
The Professional Trader's Digital Treasure Map

 

All Trading Charts have evolved greatly since the dawn of the Internet. There are still active traders amongst us today, who learned their craft from hand drawn charts plotted off the pages of the Wall Street Journal.

 

 Mike Reed's Hand Drawn Trading Charts

 

Much of the sophisticated technical analysis now available at the click of a mouse, was once an incredibly labor intensive job. It was also a far cry from the "real-time" data we now not only demand, but somehow take for granted. 

In that by-gone era, charts were primarily based on price and the smallest unit of time utilized was the "daily" time frame as newspapers were only delivered.. once a day. 

 

Variety Of Charts Available Today

 

    Time and Price  Charts - the old standby. Today, a daily chart might seem like an eternity to many. We now have access to charts in increments as small as one minute and available not after the fact, but as price unfolds, moment by moment.

     

    S&P 500 Hourly Emini ChartS&P 500 - Hourly (Time Based Emini Chart)

     

    Tick Charts - display a certain number of trades before printing a new candle. Unlike Price Charts, the tick chart is based simply on the number of trades. It doesn't matter if the trade is for 1 contract or 100, it counts as 1 Tick.

     

    S&P 500 Emini Tick ChartS&P 500 - 2100 Tick (Transaction Based Emini Chart)

     

    Volume Charts - In the equity markets, fractional ownership of a company is traded in what are known as shares. In the futures market we trade what are referred to as Contracts. Many traders stand firm on the belief that the more Volume a market possesses, the better the market. The fact that we can know not only what price was traded a minute ago, but also how much volume and how many transactions, as it happens... is surreal for the man who hand drew the chart above.

     

    S&P 500 Emini Volume ChartS&P 500 - 10K Contract (Volume Based Emini Chart)

     

    Range Charts - With a Range Chart we still have Time on the horizontal axis and Price on the vertical axis but we manipulate the expression of price per candle based on our pre-defined risk parameters. Once again, as a reminder, we do this in real time not the day after as a historical footnote.

     

    S&P 500 Emini Range ChartS&P 500 - 4TR (Range Based Emini Chart)

The charts listed above while relatively recent developments in the grand scheme of Wall Street, are today considered by and large, to be standard fare for Emini Traders, as well as those who trade Stocks, Options, Mutual Funds, Bonds and Currencies.

Always pushing the envelope, skating on the bleeding edge of tomorrow in their quest to quantify data, we have charts today that are considered exotic by even the most advanced traders.

 

  • Kagi Charts consist of a series of vertical lines based on price action. The lines on a kagi chart vary in thickness based on what price is doing. Sometimes the lines are thin, while at other times the lines will be thick and bold. Thickness is the most important aspect and what traders use to generate transaction signals.
  • Ichimoku Charts or equilibrium charts, isolate higher probability trades and have been used primarily in Emini Charts and are now becoming popular in Forex as well. Ichimoku shows more data points and is considered by many to be the most difficult chart to read.

 

The New Role Of Emini Charts

 

Unlike the days of old when trading charts were used to simply plot historical data, modern charts are much more forward looking. While they still accurately depict where we've been, they now have the ability to tell us more about where we are. With the proper training, they can also tell a "chart whisperer" where the market might go. This is the true power of Emini Charts now available to traders.

With training and experience, a trader will learn to read his Chart like a newspaper, better yet - A Treasure Map! Every candle, bar, hook and crook on the chart is relaying important information from trader to trader. It is true that at a certain point the chart becomes noisy, but a skilled eye can read the noise as well. Even the "test pattern" on the screen can reveal valuable information. It serves as a graphic representation of investor and trader sentiment for whatever chart is being observed.

As part of your education to become an Emini Futures Trader, make sure your instructor and/or mentor, places a strong emphasis on learning to read the Emini Chart. The success of your Emini Trading Business will be a direct reflection of your ability to understand what the chart has to say. The chart is the voice of the market and it always has a story to tell.

To learn more about reading Emini Charts, contact the author of this article.

 

Trading's Not Easy - But It Can Be Simple!


 

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Emini Podcast for Monday 06/17/13

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Reader Comments (6)

What chart service do you use for the emini futures?

Jun 19, 2013 at 17:58 | Unregistered CommenterRom

Are the emini charts included for students of your emini trading school?

Thank you
Tello

Jun 19, 2013 at 18:00 | Unregistered CommenterTello

If I know how to use forex charts is that the same as emini charts? in forex trading I use the 4 hour chart. Is that like the 4 tick Range Chart you use in the live trading room? If I finish the emini trading school where do I get the emini charts after that? I have a forex broker is that the same as your emini broker? - Zen

Jun 19, 2013 at 18:05 | Unregistered CommenterZen

Rom,
All of our charts and trading platforms are provided by our strategic partner Daniels Trading.

To take a test drive, call Burt or Leslie @ 866-928-3310.

DeWayne

Jun 23, 2013 at 21:05 | Registered CommenterEditor

Tello,
Yes, when you become a CFRN Partner you train for 90 days in our Virtual Online Trading Academy in live markets. You also have access to a fully functional trading platform "dtPro" for the entire 90 days. This includes real time data and a state of the art trading simulator.

Aside from the 2 hours you spend each day in class, you have access to the Emini Charts 24/7. The 2 hours of instruction each day are to prepare you for simulated trading the remaining 6 hours of the day session and 3-4 hours each night on Globex. For the 90 days you are with us, be prepared to work 10-12 hours per day.

Trading's not easy, but it can be simple.

The only way it becomes simple is through many hours of hard work.

Blessings
DeWayne

Jun 23, 2013 at 21:10 | Registered CommenterEditor

Zen,
Call Burt tomorrow toll free @ 866-928-3310 regarding your question about the difference between "Emini Charts" and "Forex Charts".

Also, call Michael @ 949-42-EMINI and let him give you a private one-on-one lesson about using the 4 Tick Range Emini Chart. That is the Emini Chart where we always go to "pull the trigger" on both intra-day trades and quite often even on Swing Trades.

Blessings
DeWayne

Jun 23, 2013 at 21:14 | Registered CommenterEditor

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