I’m starting a new subscription service which I’m naming The No BS Morning Prep & Daily Recap Reports. The subscription has a limited time frame. It’s going to start on September 1st and end on December 1st. It will be three months of morning prep reports which will be posted prior to the 8:20am EST opening time of the treasury markets followed by a daily recap report at the end of each day. The reports will focus exclusively on the treasury futures and the e-mini S&P futures.
All of the details and pricing are on this page. In order to subscribe, please send me an email letting me know which subscription option you would prefer and then I’ll send you the invoice plus the login information for the reports. If you already have my email, feel free to write me directly or you can reach me through my Contact Page.
DISCLAIMER: I will not be making trade recommendations of any kind. This is not an advisory service. I will only be offering my thoughts on each day and attempting to help people learn more about the markets.
My webinar students have found this type of morning prep and daily feedback to be very helpful during the two week webinar courses so I’m offering it on a longer term basis. I think a daily review of the day’s action will help my students progress faster.
You get two reports each day. The links below will take you to sample reports so you can get an idea of what you will be reading each day.
The Morning Prep Report – This report will arrive prior to 8:20am EST and it will tell you which prices I have marked as areas of interest and which prices will likely be major support and resistance levels. This will be based on the overnight action, the previous day’s action and any very noticeable levels from the prior weeks or months. I will describe my initial impression of the day based on the overnight action and explain what I will be expecting throughout the day.
In addition to The Morning Prep Report, I will occasionally send an email blast to subscribers during the day when I see something which I feel is very important. Again, this will not be a trade recommendation and it will not be a constant thing throughout the day. When the market is moving, I have to stay focused on the moment but I can send a quick blast once things calm for a bit. I will simply be sharing my current perspective in the moment and attempting to help people see the bigger picture.
For example, if the market has been slowly moving higher all morning and it’s approaching an area which I think can trigger a stop run to the upside, I will send a quick blast saying, “I’m currently only looking to be long or flat. This could be a stop run area and I am not going to be short until I see what happens over the next few minutes.” This does not mean I’m long or recommending a long trade. I’m only trying to help people possibly stay out of a short trade in what could be a potential trouble area for shorts. Ultimately, all decisions are the responsibility of the individual trader.
Another example: If I’ve been watching for thirty minutes and I can see that the bids and offers are not as thick as usual and the action is very erratic and not conducive to good scalping, I will send everyone a message and let them know I’m not trading that day. This could help prevent people from giving away ticks in bad action which is something I’m always striving to achieve myself.
The Daily Recap Report – This report will be posted at the end of each day. It will cover the context of the day’s action. Context is something I discuss in great detail throughout all of my material because context is key in trading. Seeing an iceberg order is one piece of a very big puzzle. Knowing how to react to the iceberg order is something entirely different.
I use the example of icebergs because I frequently get emails on this subject. The email is always a variation on the same theme. As an example, a person will send me an email of this type:
“At 10:00am today, I saw 6000 trade at 126’155 in the ZN. It looked like absorption. But the market eventually went through it so joining the iceberg was the wrong move. Was that a spot where the iceberg was offering information or was that a spot where the iceberg didn’t matter? Did I make the right play by joining the iceberg and lose a couple ticks because it just didn’t work today or should I have gone against the iceberg? Or should I have stayed flat and not made a trade around that time? In retrospect, I obviously should have gone against the iceberg but I’m wondering if there was really any information which could have helped me make that decision. What was your thought process in that area and how did you read the context?”
The daily recap will allow me to offer my thoughts on exactly these types of questions. I will write about the day’s action in detail and attempt to offer feedback which can help people gain a better understanding of context. As an example, I would post something along these lines:
“At 10:00am today, an iceberg of 6000 traded on the offer at 126’155 in the ZN. However, this took place in the middle of a wide range and the market had not been volatile at all for the thirty minutes prior to the iceberg trading. In this situation, that type of an order is usually a spread trade and there is a hedge of some sort being traded in the other futures markets or the cash markets. When that happens, the market typically remains choppy and it’s very difficult if not impossible to call direction. I do not look to do anything in this situation. I remain flat and wait for a better setup.”
“At 10:00am today, an iceberg of 6000 traded on the offer at 126’155 in the ZN. The market had been moving well on good volume and I thought this order would hold the market at that price or within a tick of that price. I took a short trade at 155 and placed a two tick stop. I think the trade was a valid, high probability/low risk setup but the market was just super strong today and it eventually moved through 155. I took the two tick loss at 165. It happens. I think the context was right but the trade didn’t work today. This is why we keep tight stops and manage risk properly.”
It may not sound like very useful information to a novice trader but as you gain more experience, you begin to realize the value of that type of feedback. One of the biggest obstacles facing new traders is being able to recognize when they are in a legitimate high probability/low risk trade vs recognizing when they are straight up gambling on a trade which is a 50/50 coin flip. Was the risk justified? Did you see a solid setup which you’ve seen many times prior or were you revenge trading because you lost money on your first two trades? Sometimes it’s obvious but sometimes not so much and that’s where the feedback can be helpful.
I’m offering two subscription options.
1. You can subscribe on a month to month basis for $175 and you can start the subscription at any time. This is for customers who may want to give it a trial run and see if they are finding it helpful or for people who may only be able to watch the markets one month but know they cannot watch the next month due to other obligations.
2. You can subscribe to the three months up front for $375 (which is a savings of $150 over the month to month subscription). This is for customers who already know they will be watching the markets everyday as well as customers who already find my feedback valuable and know they would like to read it on a daily basis.
I do recommend that you at least go through my basic and intermediate courses before subscribing. I will be using terminology you may not understand and describing situations you may not understand unless you have a grasp on what I teach in those courses.
I will be running a webinar from October 23rd through November 3rd but the reports will still go out during those two weeks. The service will stop on December 1st since many people will be going on holiday during the middle and end of that month. I may then restart the reports after the New Year.
If you can record the day’s action or if you have access to a market replay feature through a broker, that will help immensely when you read the Daily Recap Report.