January 11, 2011
- in Uncategorized by schooloftrade
3 Steps to day trading success, avoid losses before they happen, Price brackets, and low volume trading strategy
– What to do to achieve trading success
o Learn the patterns
o Learn the rules
o Learn the confirmation trigger
o This will take about 2 weeks
– Our indicators
o You will own all the indicators
o Always coming out with NEW indicators
o Members get all future updates!
– 2 ways to filter out a bad day
o Bracket the Average true range
o Bracket a sideways trading dollar index
– 3 signs of price reversal (flatten my trade, take profit)
o Slowing speed (pace on tape)
o Momentum/ MACD shifts (bottom of our charts)
o Big money buyers/sellers against your position (filtered time and sales window)
– How does low volume affect your trading?
o Less consistent S/R levels
o DX correlation wont be as accurate
o Wont see the big moves with wide targets
– Price Brackets:
o Mark the highs and the lows of price ranges and then use those levels to make educated decisions.
o Our auto levels indicator finds all the most important levels automatically
– 3 STRIKE RULE
o If my profit target is tested, but not FILLED three times I will move my target to get it filled.
– How do we set our stops and targets (21r)
o Scalpers will always use the same trade management strategy
o 4/8/Runner or 5/10/Runner
o Day Traders, swing traders, position traders will use the specific support and resistance to place your stops and targets
o Trend lines, auto levels, trigger lines, swing high/lows, OHLC for our stops and target.
– How large of an account do you need? ($1000/contract) so $4,000 is the account size.
o You can qualify to use one of our trade accounts. Make 33% of trading profits by qualifying to manage other people’s money.
– Difference between speed of tape and the BIG MONEY
o Speed of tape measures the rate of the orders coming into the market
o BIG MONEY = orders that are larger than 5-10 contracts.
– Which markets have the best Rate of return?
o DAX is the best if you live in the US (currency exchange)($2500usd)(100k contracts trade < 8am EST)
o Anything that settles in EURO (DAX, FESX)
o Crude Oil is right there with it b/c of the many patterns you see each day and lots of liquidity to keep you out of trouble.
o Worst markets are the YM, NQ, 6B, and any other markets that trade at < $10/tick
– Email us for broker references
– Momentum and overbought/oversold territory
o Long = curling up from bottom (oversold)
o Short = curling down from the top (overbought)
o Long trade with momentum overbought? Higher Risk.
o Short trade with momentum oversold? Higher Risk.
– How to get your charts to show a full 24 hours
– Set your chart properties to 12am start 12am stop
– Right click on the chart, data series, select the 24/7 template and that’s all you need.
– Time and Sales window, what is the grey background? At the HOD or the LOD
– How much on the tape do we need to see to enter a trade?
o I look for a combination of speed and size
o I want to see at least 50 orders on the filtered time and sales ( 1 order of 50, 10 orders of 5)
o At the same time im looking for increasing speed of the tape.
– Using our two different trade management charts
– One is for day trading (faster)
– One is for swing trading (slower)
– Using the MACD on our TMC
o Used for managing our trades
o The zero line is most important
o Long = above the zero line
o Short = below the zero line
o Take profit on the long trade if the MACD goes below the zero line, and the opposite for a short trade.
– FOREX: later this week you’ll see it on the blog, in the room, and with the auto trader.
– Getting into a trade: our members are anticipating the trade and entering on their own merit, while guests are reacting to my reaction
– How to do we enter the market? The TRAP entry technique (advanced course)
– Why not the ags here in the room?
o Window of opportunity is very small (1030-215)
o High Margins and high volatility
o You need to know a LOT more about the market fundamentals than any other asset class.
Our advanced course includes:
– Lifetime Membership, no monthly fees
– Lifetime Trade Room Access
– Lifetime Auto Trader License
– All our Indicators, you will OWN
– Free Charts
– Free real-time Market Data
– 24/7 technical support
– All future up-dates; new set-ups, auto-trader, etc.
– Video course materials will train you on EVERYTHING
– Includes the Beginner and Intermediate Courses at no extra cost.
