Buying Pullbacks and Selling Retracements

Questions:

– What point does buying a pullback or selling a retracement become higher risk?

o When we enter into the chop zone

 The middle of a sideways trading range

o When we have less than enough room for the trade to RUN

 Long trade = beware resistance
 Short trade =beware support

o When the pullback/retracement shows signs of losing control

 Wave long = make sure the sellers are not in control
 Wave Short = make sure the buyers are not in control

– How do we use the auto levels indicator?

– How do you qualify ‘enough speed’ in the market you are looking to trade?

o Markets may move too slowly (low volume) or may move too quickly (high volume)
o What is the speed of the market RIGHT NOW?

 Is it rising? Take the trade
 Is it falling? Avoid the trade / take profit

o Pace of tape indicator (POT) measures the speed of the orders coming into the market
o What does enough mean?

 Joe = rising speed of the tape
 Nelson = yellow POT
 Ryan = Green POT

 How do I know when the buyers or sellers are in control?
 Big money on the tape
 Increasing speed on the POT

– How often will you optimize this auto trader?

o Almost never

o We take a broad approach to the trading this auto trader uses, so we look for a winning ratio over a long term strategy

o We’re not ‘curve-fitting’ the strategy to the current market climate.

– When will be the next auto trader training?

o This Wednesday for members only!

 Set it all up
 Answering all your questions

– What are the Red and Green Divergence Arrows for?

o Divergence indicator, members only

– Fast Track Method

o Simplified version of the full trading method we will be teaching you as a client
o 1:1 risk/reward
o Uses limit orders for precise entries
o Simple patterns to make learning easy
o Start with only 1 contract
o And learn while you earn

– Do you need to continue to pay monthly for NT charts?

o No. we can provide a work-around for that
o But I would recommend if you can, continue to use the live version of NT

– How long have we been trading in the room?

o Room opened 3 years ago
o I have been trading for 10 years
o Watch the video on the DISCIPLINE CYCLE on the Blog and the Advanced Course

– How long will this take to learn?

o 2 weeks of learning
o 2 weeks of practicing on your DEMO
o Then start with the fast track method

– When do we use the auto trader?

o I don’t watch the auto trader at the same time im trading discretionary for emotional reasons

– What are range charts?

– Problem with downloading the new NT7 Indicators and I’m working on the solution for that as we speak.
– Another beta release for the Auto Trader later this week

o 100% complete end of the year