January 20, 2011
- in Uncategorized by schooloftrade
Drawing Trend Lines with Sideways Trading Ranges, Reading Tape on Euro Futures
– Horseshoe Pattern
– Byproduct of a sideways range, wide range
– How many monitors do you use?
– 3 x 30” monitors, but you can get away with 2 x 24” monitors
– The big monitors are too expensive, require too much energy to power them up, and they get way too hot.
– I would buy refurbished 24” monitors
– JJ@schooloftrade.com for a copy of my specific computer properties.
– BMT Line
o Big Money Trigger Line
o Used by the BIG MONEY traders as support and resistance
o Ill use it for taking wave patterns, use it just like the other trigger line.
– What momentum do we use?
– I cant give away the details to anyone but a member.
– How do we use the Time and sales differently for the euro compared to the gold /Russell/crude?
o The euro is considered a higher volume market
o The CL/GC/Russell are considered low volume
o We need to see MORE volume on the euro to make the market move
o We need to see less volume on the CL/GC/TF for the market to move.
o If im looking for 10 lots as BIG MONEY on CL/GC/TF, ETC than I need 50-100 lots to see BIG MONEY on Euro.
o We also use a different setting for the pace of tape indicator
– Divergence method
– How do we enter our trades?
o We never use market orders
o We like to use limit orders
o We use a technique called the ‘trap’
o Log into your advanced course and the video will show.
o Fast Track traders = limit orders
o Swing traders = limit orders
o Scalpers = Trap
o Day Traders = trap or limit order
