When does support become resistance for me sell?

At what point does support become resistance? And when can I sell that resistance?
–          Speed
–          Momentum
–          Big money
–          Failure of patterns
–          Lack of confirmation = confirmation itself.
How do we grow your trade account?
– when you’re learning
$1000 new equity or 2 weeks of consistency trading 1 contract and you can move to 2 contracts
$1000 new equity or 2 weeks of consistency trading 2 contracts and you can move to 3
Every 2 weeks of trading consistency or $2000 in new equity and you can move to 4
2 weeks of consistency and you can move to 5, etc, etc.

    schooloftrade

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    Joseph James - April 18, 2011 Reply

    Great question Steve!
    Big Buyers and sellers are found on our time and sales window, and I will show you how to READ this as a client. Very easy to learn.

    Use your time and sales windows to watch the orders coming into the market, this is tape reading, and I will show you some easy tricks tomorrow in our training.

    For volume, use a volume indicator, and use it on a 3-min chart.

    I dont use the volume indicator any longer, we have a better tool…the Pace of Tape Indicator, which measures the speed of the orders coming into the market. a great tool for new traders learning to day trade and READ TAPE.

    The easiest way to get everything you need is to become a client.

    You could spent 10 years reading, digging through Forums, etc, but the path of least resistance will to become a client.

    – I will teach how to read tape
    – looking for BIG MONEY
    – Using Speed and Pace of Tape to confirm
    – Finishing the trade with proper trade management

    Good news…we have a special training on WEDNESDAY this week and I can teach you ALL of this.

    Great questions, and I have plenty of answers for you in training this week.

    keep 'em coming!

    Steve - April 18, 2011 Reply

    I am learning, and would like to know how does one know big buyers are selling or buying. What specific indicator does one see or look for to discern this? The same with volume, what market data do I need to become familiar with to know volume? Can anyone access this info? Is there a specific website I need to register on to access this data?

    Joseph James - April 19, 2011 Reply

    Hi Steve, another great question.

    New Equity is when you have MORE money in your account than when you started.

    Open your account with $5,000usd
    you earn $1000 in profit
    you lose $500 in losses
    your new balance = $5,500usd
    You earned $500 in new equity in your account.

    If you were to lose $2,000 on this account, you would need to make back $2,000 in profits BEFORE you began to earn NEW equity.

    As a professional trader, you only get paid on NEW EQUITY 🙂

    I will show you EXACTLY what account to open, and I will tell you EXACTLY who to call to do this. very easy.

    I have a list of 5 brokers that I love working with. they all have different good/bad about their products (higher/lower fees, etc)

    I will give you plenty of options so you can make an educated decision with your account.

    Keep the questions coming! great work!

    Steve - April 19, 2011 Reply

    Under the "How do we grow your trade account" heading, it says, "when you’re learning$1000 new equity or 2 weeks of consistency trading 1 contract and you can move to 2 contracts…"QUESTION: How do you know when someone has gained $1k of new equity? When I become a client, am I also opening an "account" with a balance? As a client, do you offer such an account to use in conjunction with your trading tools? Or, do I have to open an account with a futures broker on my own? And do you have a comparison list of recommended brokers that you have already screened and evaluated?Thanks,steve

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