{"id":46946,"date":"2018-05-14T16:14:41","date_gmt":"2018-05-14T20:14:41","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=46946"},"modified":"2023-04-12T15:52:59","modified_gmt":"2023-04-12T19:52:59","slug":"smb-futures-totd-5-14-18","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/smb-futures-totd-5-14-18","title":{"rendered":"SMB Futures TOTD &#8211; 5\/14\/18"},"content":{"rendered":"<p>Yes, the Trade Of The Day, the TOTD &#8211; (pronounced &#8220;toddy&#8221;)<\/p>\n<p>We&#8217;re going to be bringing you fresh TOTD&#8217;s each day that highlight a real trade taken by one of the traders from the new SMB Futures desk. So let&#8217;s dive into today&#8217;s TOTD.<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2018\/05\/TOTD-5-14-18-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-46950\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2018\/05\/TOTD-5-14-18-1-1024x616.png\" alt=\"\" width=\"700\" height=\"616\" \/><\/a><\/p>\n<p>5min chart: 6E Futures<\/p>\n<p><strong>The market and key variables:<\/strong><\/p>\n<p>Our trader was watching Euro\/USD currency futures, or the 6E for those in the know. He had:<\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li>A key level 1.20050, which broke down convincingly, and held on a retest.<\/li>\n<li>Price had gotten below VWAP, and was currently retesting it from below.<\/li>\n<li>Saw quality R:R ratio into the next support level quite a ways away.<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ol>\n<li>Saw a key shift in orderflow to pull the trigger and effectively manage risk.<\/li>\n<\/ol>\n<p><strong>Prices and result:<\/strong><\/p>\n<ul>\n<li>Shorted 1.20050 and covered later at 1.19780<\/li>\n<li>A quality +54 ticks<\/li>\n<li>All in- all out trade management<\/li>\n<li>3:1 R:R achieved<\/li>\n<li>Nice job sitting through the LONG consolidation as his trade thesis was NOT invalidated<\/li>\n<\/ul>\n<p><strong>Areas for improvement?<\/strong><\/p>\n<ul>\n<li>The trader&#8217;s initial plan called for a larger target into a lower support level. The market easily reached this larger target, and the trader is currently working to improve his own understanding of a quality trade management process that makes the most sense to him.<\/li>\n<\/ul>\n<p>Trade well,<\/p>\n<p>Merritt<\/p>\n<p>*No Relevant Positions<\/p>\n<p><a href=\"https:\/\/www.smbtraining.com\/blog\/smb-disclosures\">Important Disclosures<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yes, the Trade Of The Day, the TOTD &#8211; (pronounced &#8220;toddy&#8221;) We&#8217;re going to be bringing you fresh TOTD&#8217;s each day that highlight a real trade taken by one of the traders from the new SMB Futures desk. So let&#8217;s dive into today&#8217;s TOTD. 5min chart: 6E Futures The market and key variables: Our trader was watching Euro\/USD currency futures, &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/smb-futures-totd-5-14-18\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2144,"featured_media":46950,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5010,7,3],"tags":[],"class_list":["post-46946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-futures","category-reading_the_tape","category-technical_plays"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SMB Futures TOTD - 5\/14\/18 | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/smb-futures-totd-5-14-18\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SMB Futures TOTD - 5\/14\/18 | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Yes, the Trade Of The Day, the TOTD &#8211; (pronounced &#8220;toddy&#8221;) We&#8217;re going to be bringing you fresh TOTD&#8217;s each day that highlight a real trade taken by one of the traders from the new SMB Futures desk. So let&#8217;s dive into today&#8217;s TOTD. 5min chart: 6E Futures The market and key variables: Our trader was watching Euro\/USD currency futures, ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/smb-futures-totd-5-14-18\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-14T20:14:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-12T19:52:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2018\/05\/TOTD-5-14-18-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1042\" \/>\n\t<meta property=\"og:image:height\" content=\"627\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Merritt Black\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Merritt Black\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/smb-futures-totd-5-14-18#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/smb-futures-totd-5-14-18\"},\"author\":{\"name\":\"Merritt Black\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/3ad641370a1819e23fdb8f22cdfc7e9b\"},\"headline\":\"SMB Futures TOTD &#8211; 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