Record Breaking Day Trading Profits Crude Oil, Gold, Russell and euro futures strategy

– Three signs of price reversal

o Decreasing speed
o Momentum curls against you
o Big money confirms the reversal

– Trade Management

o Scalpers = always the same
o Day & Swing Traders will use levels of support and resistance to place their stops and target
o Stops = 6-tick (scalper), 10-20-tick stop for day trader
o Targets = ALWAYS at support or resistance

– Trading Crude Oil on Wednesday and what to expect

o Wed @ 1030am EST we have CL inventories
o Expect to see sluggish and indecisive price action ahead of the news

 We often never get a trade before 1030am

o After 1030 when the news is released we need to try and understand what the reaction to the news is trying to tell us.

– Where do we find the best 2-step patterns?

o Never happen in the middle of the range
o Sell the highs
o Buy the lows
o Best 2step patterns come at support and/or resistance
o I wait to see the TEST of the highs or the lows, then take the reversal trade.

 Not ‘close’ to the highs or lows, but actually TEST that level.

– Benefits of multiple timeframes

o Patterns = more patterns to confirm your trades
o Momentum = use multiple timeframes for momentum to confirm
o Use our AUTO LEVELS indicator to find all the most important levels of support and resistance.

– Time and Sales properties in the advanced course

o Check the adv course download section

– Why do I move my stop sometimes, and why do I leave it?

o When the momentum indicator has not 100% confirmed yet (cheating)
o When we see support or resistance that may prevent the 2nd and 3rd targets from being filled

 Expect a small ‘bounce’ and therefore we give the trade more room to breathe

– Holiday Schedule

– Last day of trading = next Monday the 13th

o Trade room is closed from Tuesday 14th
o Re-open in the new year on 10th of January

– What do we do when we hit our profit goal?

o Move to demo, keep trading
o Stop trading and take a nap
o Keep trading LIVE, but try to limit your risk

 Trade smaller size
 Be more selective
 Look for more filters to confirm