 Okay, traders. That's 2PM UK summertime, maybe the end of summertime. Just a quick audio check and visual check here. If you can hear me loud and clear and you can see my welcome screen. If you could type of why into the chat box so that I know we are good to go. Okay, why in the chat box if you can hear me and you can see my my welcome screen. Testing testing 123. Why in the chat box guys if you can hear me and you can see the welcome screen. Great, thanks Mohan. Okay, let's let's get going here. So like I said, welcome to today's introduction to the e-mini and micro S&P contracts in today's session. I'll be introducing you to the instrument structure and advantages along with highlighting some unique market mechanics that really enhance the trading information for these products. I'll introduce you to my core strategy for trading the minis and demonstrate how you can consistently use my pre-market analysis to read consistent returns from the markets. For those of you who are here for the first time, before I jump into this, if you have any questions about any of the content we've discussed, if you could just make a note of those and I'll open up a Q&A session at the end of the presentation. For those of you who have the first time, my name is Patrick Manley after I graduated from King's College London. I joined a city PLC consulting firm. I ultimately left with some colleagues and went on to successfully co-found and exit a consulting startup, which was focused on C-suite executive search for technology businesses. So essentially had a front row seat in the dot com bubble, witnessing people make and lose a fortune in the markets quite literally at times overnight. After I cashed out my equity stake in the business, I decided to explore my curiosity for markets with some capital to play with and some time on my hands. I started day trading the S&P 500, or probably more appropriately day gambling after some early beginners luck. I racked up some pretty solid gains. However, as is often the case, my beginners luck ran out and as the market phase changed, I began to basically average down into what would be losing positions. I gave back all my gains and took a six figure financial hit to say this was a gut wrenching and sobering experience is really an understatement. I had to stand back and figure out if it was reasonable for me to make a living from the markets. So I decided to get serious about trading and sought out a mentor with an excellent trading track record. Working with my mentor for a period of 18 months to two years, it was a time during which I not just my technical game in terms of researching, developing extensively back and forward testing strategies that crucially suited my personality, all of which were underpinned by a rigorous risk management approach. But most importantly, during the period of mentorship, I significantly developed my mental game and probably most importantly, I made the watershed shift from being a highly goal oriented individual who was focused purely on financial gains to becoming process oriented. And so what does that actually mean? Well, it means I had to stop focusing on what I could make from the markets and start focusing solely on managing my mindset to allow me to consistently execute my trading strategy. Oftentimes in the face of negative feedback from the markets in the form of losing trades. But once you become process orientated and you have a professional trading mindset, you understand that the true nature of trading is simply a numbers game in which you're playing the probabilities. You lose the emotional investment and that hellish emotional roller coaster of living and dying by the outcomes of individual trades. So I'm no longer concerned with the outcome of individual trades or even a small string of trades. My focus is on the next 100 trades because I know by focus on excellence and execution, my edge will demonstrate itself over an extended series of outcomes. My strategy approach has delivered profitable annual returns since 2008. From 2013 I've also been managing investor capital through a managed account service delivering annual positive returns. I'm currently responsible for managing a multimillion dollar portfolio. Since 2010 I've also met hundreds of private traders of all experience levels from complete novices to former CME floor traders in developing the technical and mental skills to assist with returns from the markets. In addition to my fund management and mentoring, I'm engaged in some market orientated projects. Specifically, I'm a resident market experts exclusively providing market and trade analysis to Tick Mill, providing on a daily basis and I'll just put it up here you can see an example of it. A daily market outlook that breaks down the fundamentals and technical drivers from day ahead. I also provide technical trade setups for two to three markets. I do these through a couple of mediums one is videos through YouTube through the Tick Mill channel here that you can, you can follow along with you get these daily trade updates. So now post trades into directly into trading view through the Tick Mill account and you can, you can follow along with those you can subscribe and follow, and you can see those trades as they play out in the setups that I'm looking at again these predominantly videos. So it's fairly straightforward to follow through with what I'm doing. And lastly, I guess the principal projects that we're developing in part that I'm developing a partnership with Tick Mill is the rapidly growing E-mini strategy group that's 170 members I think now in this group, and we are really helping traders in terms of what I do is I deliver a daily trade plan with with intraday trade updates. And since it's inception back in April, we've delivered where I've delivered over 1250 points of upside. So what does that mean in terms of your account? Well, if you risk 1% per 10 points of movement in the S&P or the E-mini S&P or the E-micro S&P, that means you basically be up 120%. And that's relatively conservative move there in terms of how you could have grown your account through following the daily trade plan and my trade updates. At the back end of today's session, I'm going to discuss an enhancement or a premium version of what we have been doing through the complimentary Facebook group with respect to the new trading futures trading with Tick Mill and guided by me through an exclusive telegram channel. But we'll talk about more about that at the end of the end of today's session. So before we get to all of that stuff, let's, let me give you an introduction to the E-mini or the ES or the E-minis or the spools. It's essentially a futures contract that tracks the S&P 500 stock market index. It's traded on the Chicago Mercantile Exchange or CME via their GLOBEX electronic trading platform. Trading is 23 and a half hours a day, five days a week using the contract symbol ES. The three contracts are available on a wide range of US stock market indices, commodities and currencies. However, when traders refer to the E-mini or the E-minis or the spools, they're generally referring to the most important one and that's the futures contract that tracks the S&P 500 stock market index. The E-mini futures were originally launched in September 1997 to attract non professional investors into trading index futures. Previously, the only game in town had been the large S&P contract, but it had become too expensive for the little guy to trade. So the CME created the E-mini contract, which is essentially one fifth the size of the large S&P 500 futures contract and required only one fifth of the margin to trade. The E-mini became a huge success, not only with professional traders, but with, sorry, not only with non professional trades, but also with the professional trading community. The micro E-mini futures contract is the same as the regular S&P 500 E-mini contract in every respect, except it's only one tenth of the size. That is each one point of movement in the S&P 500 index is worth $5 per micro E-mini contract compared to $50 for the E-mini and the margin to trade a micro E-mini contract is also one tenth the size. So let's think about the benefits of this. Well, it's equally easy to go long and short. You either buy or sell the current E-mini contract and there is no uptick rule. It's a 24 hour, essentially a 24 hour trading environment, which makes the E-mini attractive to traders around the world. Overnight moves in related equity markets like the DAX or the FTSE can be played through one trading vehicle. The electronic trading platform means that your orders are entered instantaneously and when executed, you're notified instantaneously. Changing and cancelling orders is trivial. There are no phone calls to brokers required and you know exactly where you stand every second you're in the trade. Essentially a level playing field because the Globex electronic trading platform means that large and small traders have equal access to the market and trades are executed in the order they're received. Unlike the PIP traded futures or equities or the 4xOTC market, there are no longer any back room dealer games being played. It's got a tight bid spread because there's so much volume trading through the E-mini, the difference between the bid and the ask price is only ever one tick or 0.25 index points, which is the minimum price movement for the E-mini. The large depth of market, again, meaning that market is so liquid that there's plenty of volume either side of the last traded price for large orders to be filled with minimum slippage. It's volatile, yes, but not unmanageable. The E-mini is active every day, which gives the day trader plenty of opportunity to trade. Remember, a sleepy market is impossible to day trade, but the E-mini volatility is also manageable except around big geopolitical announcements or the FMC or non-farm payrolls. It's got really low brokerage rates, which means that broker commissions for the trading of the E-minis continue to fall. This excludes exchange clearing and regulatory fees. And when you factor this in, your round trip or your in and out brokerage commission is very attractive. It's got a low margin requirement, so essentially to open a day trading position with tick mill, you only require a thousand US dollars to open a micro account. Remember, again, these are absolute minimums and you should be trading with much more capital behind your positions. It's got a lower tax rate than trading forex or stocks. Income from trading E-mini futures is taxed simply as a capital gain. And there is no trade by trade accounting. It means essentially that at the end of the year in particular, you're in play tax on the net profit for the full year. Okay, so now we understand the instruments and the trading venue. I want to demonstrate some of the unique aspects of the E-mini contract. The fact that the E-mini is a derivative of the S&P 500 allows us to access some really unique information commonly referred to as market internals. Market internals are often compared to the instrument dashboard on a car, giving indication of performance and alerting the driver to any issues occurring under the hood. So let's take a look a little bit more closely at what market internals are and how we can incorporate them into a consistent trading strategy. First, volume. Volume with respect to the E-mini is a unique feature of trading through an exchange as opposed to contracts for difference or forex volume data. For forex, it's pretty notoriously incomplete. There's no central forex exchange and the banks who dominate forex trading don't share volume data in real time. However, we get a true reflection of the actual volume which is shared directly by the CME and it's available to all market participants in real time. I use volume as a tool to confirm breakouts and opportunities to fade the markets. Spikes in volume will often be accompanied by intraday profit taking. Next, the New York Stock Exchange tick index. This gives us the relationship of stocks ticking up versus stocks ticking down. The tick is an extremely useful tool for intraday traders. For example, if there are 3,000 stocks trading on the New York Stock Exchange and 1,500 stocks trade higher from their last printed price and 500 trade lower, then their last price, the tick will read plus 1,000. When using the tick, we are looking for extremes to enter or exit a trade. Tick readings of plus 1,000 or minus 1,000 are considered very strong as we typically trade between 500, plus 500 and minus 500 most of the time on the NYSE. Tick readings with 400 or less indicate shock and we want to ignore them. On range trading days, you can look to fade tick extremes. I apply a moving average to make it easier to see the trend of the tick and easier for me to identify the tick readings, the extreme tick readings. When we get a high tick and a high in price at the exact same print, this often indicates the high of the day. With a high tick print, without a simultaneous high in price, we can continue to make new highs until a new high tick is reached. And obviously the reverse is true for a low tick followed by new lows. The next tool is the advanced decline line or the AD line. This indicates it tells us the net sum of advancing stocks minus declining stocks. Only 3,000 stocks listed on the New York Stock Exchange and about 3,000 on the NASDAQ. An AD line reading of plus 1,500 is very bullish and a reading of over 2,000 is extremely bullish. On the flip side readings of negative 1500 and below are very bearish and readings below negative 2000 are extremely bearish. These extreme readings are indicative of trending days where once the market opens it continues to trend all the way into the close. We look to the AD line in conjunction with the breath ratio to confirm these type of trend days. For example, a day with 2,500 advancing stocks and only 500 declining stocks would yield a net of plus 2,000 which is an extremely bullish reading. We take a large catalyst to shift the market direction with this type of print. However, if on the open, you continue to see the AD line moving up so plus 500 plus 700 plus 900, this is a sign of market strength. If however the market is moving higher but the AD line is moving lower, this is a divergence and could be a sign of a market turn. Next, we have the breath volume ratio composed of volume flowing into up stocks versus volume flowing into down stocks. The breath ratio is expressed as up volume minus down volume. This reading is important in relation to where it is, especially where we are now compared to where the cash session opens. For example, if at 10am we have 10 million shares moving up and 5 million shares moving down, the resulting breath ratio is 2 to 1 positive. Twice as much volume is flowing into up stocks as down stocks. If at 10.30am the market has sold off, but we now have the breath ratio of 3 to 1 positive. This is a signal that the markets are actually becoming stronger and it's time to look to buy the pullback. Last but by no means least, we have the cumulative delta reading. A cornerstone of order flow analysis. Cumulative delta summarizes buy versus sell activity and can help traders determine market direction, trend strength, support and resistance areas and more. The delta refers to the difference between buyers and sellers. Delta is positive when the purchase is exceed the sales and delta is negative when the sales exceed the purchases. Cumulative delta consolidates the accumulated delta information and then plots this information on our charts. By recording and displaying a running count of weather and by how much buyers or sellers were in control, order flow traders can better extrapolate the flow of the market. Delta is an excellent tool for detecting divergence between price and the underlying order flow in the market. When price is making new highs but delta isn't making new highs, it suggests an underlying weakness to the market and often precedes pullback or reversing. So now we understand or we have a brief introduction there to the market internals and unique insights they provide. I want to briefly walk you through my core strategy. By understanding the market context in which we are trading, I'm looking to execute two types of trades. Mean reversion trades in ranging environments and momentum trades in trending environments all underpinned by the market internal regions. Every day I plot pivotal support and resistance action areas that are derived from multi timeframe market volume profile analysis. This allows me to avoid engaging the market in areas of heavy rotation or shop. The support and resistance action areas have three purposes. They can act as entry levels in mean reversion setups, which is often the case in directional or trend environments the action areas act to confirm momentum entries. And lastly, they can be used as targets for trades. I also know additional key information and data from the prior days price action. These levels are often very important to define the bias for the day ahead. The bias volume point of control a highest volume price from the previous day where buyers and sellers perceive it to be fair value for the day. Every day I confirm the market context. This confirms the dominant side of the market in the overnight session on a one to three day basis on a one to three week basis and on a one to three month basis. There are times obviously when neither side is dominant, and it's important then that we assess how the cash session develops and how the internals are guiding us. I also highlight quantitative probability plays based on where the cash regular trading our session opens in relation to the prior days session, we're either either opening above below or within the range. Based on this, I identify key levels and the probability of price testing these levels over an extended data set. This information can be useful for trade entry exit and also trade management. I also note volatility or range analysis that this helps to inform the current market context is the market imbalance in relation to the current volatility environment. Equally we can confirm the market out of balance, and this can inform the bias for the day also helps to inform trade execution, trade man and trade management. Let's take a look at a few examples of have a combination of the action areas the market internals and the quant data deliver an edge in the market so we'll just run few of, I'll just run you through a few here. So, as we come into this, this cash session so the, the tick data, the ad line and the breath ratio are only available once the new stock exchange opens at 230 UK time. So that's why you don't see any prints here in the overnight session, we get cumulative delta readings 24 hours a day so we still have that to hand in the overnight session. So in this session, we came into the cash session bullish, and we were trading above the midpoint midpoint for the, when I refer to the midpoint, what I'm referring to is the 50% of the current 24 hour session. So the 24 hour session begins at 6pm in New York, and we trade through them until the cash session closed in New York in the evening time in the UK. So what we have here is that midpoint we always want to pay attention to where prices in relation to the midpoint that helps us identify the current trend. We also have a current session volume weighted average price. So that's the price at which both buyers and sellers perceive that to be most, most value for the current session. So when we open the cash session and we're trading above the VWAP and above the midpoint, we have a positive tick distribution so you can see moving averages below the zero line, we have a positive ad line printing above the zero line and improving. In this instance, we have a negative breath, but importantly here we have positive cumulative volume delta rising rapidly. So in this instance, what we're looking to do is actually play a continuation trade. So we're playing the break of the primary resistance. So somewhere around 43.85 here, and our target is simply up into the secondary resistance zone. So these these action areas are plotted before the cash session opens. So you have these two hands, and then you're simply using the market internals to identify are you going to play a mean reversion or a continuation trade. In this instance, it's continuation trade through the 43.85 and up into that 44.00 area. So you're taking about 15 points of profit there on that setup. Another example here. Again, this is as we come into the cash session we open up, we've been rotating around the midpoints and volumized average price and we come in with pretty neutral bias on this day. We're holding between the primary resistance and primary support cash session opens, we extend quickly through the midpoint and the VWAP. So we move to a bullish bias. And then what we're simply looking for is a confirmation to play continuation trades on the long side in this instance is do we have positive market internals. But if we look down here, we have a positive tip. We have positive breadth, we have a positive AD line, and we have positive delta. So in this instance, we're looking to be long through the primary resistance coming in here around 42.87. We trade up into the secondary resistance. So you can either take your trade off here at the 43.00 areas of another 13 plus points of profit there. Or you can actually look for what I call an exhaustion signal. So when we print into this new higher day, if we look at the tip, do we have a high tip of the day? Is the tip printing plus 1000 or they're there about and is it the highest tick of the day. In this instance, we get a new high in price, but no high tip. The high ticket already printed on the previous candle here on this candle, and we still made higher prices so in this instance you don't actually get an exhaustion signal so you could hold this trade or trail your stops. And so we trade once we, if we don't get the exhaustion signal, then we're looking for the third resistance points that takes up there into 43.20. And depending again, do we get a high tick? Well, we get a couple of high ticks here testing 1000 level. So cash in your trade here 43.20 from that 42, let's say 87 entry points, you're looking at 30 plus points of profit on that setup. Here, similarly, we come into the day, we are bearish we're trading below the midpoint below the VWAP, and we are rotating. And now we are looking to break down through primary primary support here, and it's 43.30 on the downside, we are negative in terms of our tick distribution, negative in terms of A D line, negative in terms of breath and we have negative delta. So that's the green light trade to the short side for continuation trade through 43.30, taking us down into 43.16. And we exit the trade there again, 14 plus points of profit on that setup. In this instance, we come into the day we're trading above the VWAP above the midpoints, we're bullish, we have positive tick distribution, positive breath, positive, sorry, positive A D line, positive breath and positive delta. So it's a long trade for us here 43.40 up into the next, the next resistance zone as the target around 43.55. So again, 21 how you manage the trade 10 or 15 points of profit there. Again, just thinking in terms of really keeping it simple in terms of I'll be trading above or below the VWAP of the mid, and what are the internals telling us as the market opens up for the cash session. Now the setup here we're on the bearish side with the low the midpoint with below the VWAP. We have a negative tick distribution, negative A D line, negative breath and negative delta. What we want to pay attention to here is so we get our entry 43.43 34 we trade down into the set the target so our first support zone. Now do we get an exhaustion signal there, but we don't. So we can hold that trade for the third to the third support zone. Do we get an exhaustion signal that yes we do get a low tick a day, new low in price and we're covering the trade there in and around just below 43.20 from that 43.34 entry. So again, looking about 15 points of profit on that trade. That's a couple of examples here. Looking here on the long side, we're trading above the VWAP above the midpoint. And we have positive tick distribution, positive A D line, positive breath and positive delta. So that's a trigger there for the long side through 44.55 and our target zone there 44.60 plus do we get as we test that area do we get a new higher tick of the day. So if we look there on that candle, we get a tick extreme reading plus 1000 and a higher day so we cut the trade there again looking at another 15 points of profit. Last one here on the short side cash session opens with trading below the VWAP below the mid, we have negative tick distribution, negative AD line below the zero line, negative breath, negative delta. So let's go ahead here to enter on the short side through 43.30 take us down to 43.12 area. About 18 points of profit. And what do we get here, we get a, we don't get it, we don't get it, we don't actually get a low tick there. So we get that low in price here, but our tick although it's an extreme reading isn't a new low tick a day so that suggests that we can continue to trade lower and we do we roll over down into the 43.30. And we get some tick extreme readings there opportunity to cover the trade for 30 points of profit. So hopefully you can see here that by combining some really simple tools. Following the price action and some of these, these setups with respect to these internals, how you can really develop a very simple and profitable trading strategy. What I'd like to do now, obviously we've looked back at a few examples here, but what I'm going to do now is every day into that Facebook group I referred to the human strategy group. I'm going to stay three to five minute video with the trade plan for the session ahead. And then I also review the trade plan from the day before, versus how the price action played out for the session. Like I say, you can access that through, should be an example of one here. Yeah, there's yesterday's setup, the trade plan. And before I jump into the trade plan there, I review the price action versus the prior days plan. There's one of those every day and that's going to be continually fed into the into the strategy group. I also like I say I update in real time trade setups entries exits yesterday for example and I don't want anyone to be thinking that you know every trade I take is a profitable trade or I win 100% of the time that's certainly not the case. That's a high percentage of the time and because of the multiples of return is extremely profitable strategy but that's not to say that it works every time nothing does in trading. But you can see here I'm giving real time trade updates. And you can see how the trades trades play out so in terms of today's session what I'm going to do now is I'm going to give you the trade plan that I'm going to post after this after this presentation has finished into the into the tick mill into the into the tick mill strategy group today so we come into today's session glow vex tone where are we trading well. At the moment we're rotating around the midpoint and the VWAP so price action is pretty neutral this stage although it's bullish because we're trading above the daily VWAP well above the daily VWAP at this stage. The daily VWAP is down here at 4432 so market context on all time frames remains bullish. We're trading in yesterday's range so when we're trading within yesterday's range. We know there's a 73% chance that we test the midpoint once the cash session opens. We know there's a 70% chance of testing yesterday's volume point of control yesterday's volume point of control so the highest volume node for Friday. 45.07 we're sitting just above that so we know then equally there's a 70% chance of a test of the prior days close to yesterday's close was here at 45.15 so you can see that we're pretty much rotating pretty heavily around these key areas. And so what we'll be waiting for now is the cash session to open. If we get bullish internals the trades will be an aggressive trade to take through the 45.17.50 area, but we'll be running straight into some resistance here 45.19 to 45.24 so my preferred setup at this stage will be if we have these bullish internals and the market is breaking higher, we can take a break of the primary resistance so looking at 45.24.50 and our target are upside objective is going to be 45.33.75 and then we'll see do we get an exhaustion signal. If so we'll be closing out that trade but that's the primary setup for the day is going to be breaking primary resistance targeting secondary resistance on the short side of the market. Because of the nature of this multi timeframe bullishness, we really only would be thinking about shorts on a break of the 44.87 so it's quite a way down and the primary play for today is going to be on the long side. The market is set up bullish and we'll be looking for a break to the upside. Only when we be considering shorts if you start to break through 44.88 and we have every all of our market internals so the tick distribution, the breadth, the AD line and the delta will all need to be negative to give us an opportunity on the short to play the break of 44.87.50 and then we'll be looking and then down to 44.75 so there's basically the two trades that I'm tracking for the day. Now, once the market opens up and we can start to see the opening rotations and we can get a read on the internals, then what I'll be starting to do is feed in additional opportunities, increasing the plan, and I have been doing that through the Facebook strategy and I've found that just to be a bit too static. So this is where I'd like to introduce you to the, the futures training with tick mill. This is a dedicated telegram channel where I'm going to be sharing all the markets, information insights that I've gained over, like I say this is 15 years of experience and battle scars and often very costly lessons I'm not a guru by any stretch of the imagination. I haven't been around for quite a while. Within the tick mill futures telegram group we're also going to be providing daily institutional insights from tier one investment banks and their trading desks, and their strategy teams with respect to their market perspectives. This will allow you the unique opportunity to take a look behind the curtain and really see how the institutional players are positioning. You'll also receive regular market bulletins with in-depth positioning and sentiment analysis, actionable real-time chart analysis for the full range of E-mini and micro futures products covering daily setups and trading updates for the E-mini stock market indexes, commodities, currencies, and the crypto contracts. You'll also have access to live stream trader education sessions, providing an opportunity for you to look over the shoulder of an experienced money manager and watching real time as I dissect the markets and identify asymmetric trading opportunities. These live education sessions will act as a platform, helping you to develop a professional consistent approach to navigating the markets and then most importantly the mental mind games that must be mastered to make it as a profitable market operator. So that concludes the presentation for today. What I'm going to do now is I'm going to post into the chat. Here's the link for the strategy group. Like I said, I'm going to continue to post it, post the free daily trade plan in there. But for those who are interested in taking things to the next level, this is the telegram group that will be launching. The full launch is on Monday. We're going to have a soft launch over the next couple of days just to hopefully honor any potential issues. And that link is in there for the telegram group. And that concludes the presentation for today guys. So at this stage, are there any questions? Just take a look at the water here. Equally, if you don't have any questions, it's really useful if you just type an N in the chat box, so that I know I've done a reasonable job of explaining this stuff and I can wrap today's session up here. I hope to see you all in the strategy group and hopefully in the telegram channel as well. Okay, thanks everyone for your time and I hope you found this useful.