This is a live, real-time trading room from the floor of the Chicago Board of Trade. From 7:00am CST thru 2:00 pm CST. Hear Jack's market commentary, trade recommendations, trading condition updates, and watch his trades -- all in real time.

This is ALL TRADING, ALL THE TIME.

The markets covered are the US 30-year bonds, 10-year notes, 5-year notes, and SP500 Futures. This room is used by both professional traders and students.

Some general information about the trading room:

The trading room opens promptly at 7am CT. I begin by reading off upside and downside price levels that some floor traders use. The order is BONDS, 10-YEARS, 5-YEARS and SP. These levels DO NOT replace those from my newsletter. We are using these in conjunction with my newsletter as we strive to find multiple reasons to make a particular trade.

I suggest that you focus on the levels the floor designates as "strong" and on their bias (bullish or bearish). Then, look to see if any levels on my newsletter are close to those prices (roughly 1-3 ticks either side of). Look to see if an extension trade ties into a strong floor level (or a major, *, or even pivotal from my newsletter) -- those are the places where you want to enter orders in the order book.

Perhaps the most critical part of the trading day is the first hour or so -- this is the time we need to study the flow of the market; see how the day session traders respond to the overnite trading range, and see what "games" we can detect in the order flow. This is NOT the time to ask off-market question. Asking for "repeats" or clarification of information is fine tho.

Many TBF members like to use the "pivot" that I get from the floor sources; many like to note what the floor source "flip point"is. (For example, they tell us their bias but they usually give us a price that will take them "off" that bias.)

My goal is to keep you on the right side of the market, keep you informed of what the floor is doing; keep you informed of trades I like; and weave in some education when time permits..

The message board is used to "ask" questions; I also strongly encourage you to use it to get updates if you take a break during the trading day. Just type in something like "been gone for 40 mins…anything change?" and I'll get you up-to-speed. Don't type in your trades or thoughts. No one sees your questions but me. I might answer your question verbally or I might type a response. If I feel the question is not critical I may save it and answer it later. I will ignore a question if I feel it has NO impact on the market.

Throughout the trading day I will pass on more "floor info"; remember: these "updates" do NOT replace the information found on my newsletter.

Generally, the order of importance of the info is: bonds/notes: newsletter/set-ups/floor info. SPs: floor info and (tie) newsletter/setups.

In bonds/notes: If I am bullish -- but the floor is bearish -- I suggest trading from the long side but filter in the floor's bias: 1) trade less size 2) scalp your trades 3) become more aggressive (more size/hold trades) once the market passes the floor's "flip point" or pivot. Of course, on days when the floor and I are "on the same page" that is when you should strive to be most active in the market.