August 5, 2011
- in Uncategorized by schooloftrade
Trade any market you choose with this Simple Strategy
Changing your trading style to fit other markets.
This trading method will work for Swing Traders, Day traders, scalpers, anything will work.
This method works on ANY other market you want to use it with?
· ES…Yes!
· Euro….Yes!
· Corn/Wheat….Yes!
· YM….Yes!
· Bonds / Notes…Yes!
· FDAX/FESX….Yes!
· Hang Seng
· Kospi
The most important thing to me was having a method that would adapt as the markets change in the future.
Markets are like the weather…slight changes make them FEEL the same, but they really are always slightly different.
I will use the same fundamentals, but some markets have different personalities and therefore i make small changes to my trading plan when i trade them.
Example:
ES / Bonds / FESX / Euro = fully-liquid markets
Illiquid Markets:
Lower volume, higher margins, and more BIG MOVES
– Rising Speed (1000)
– Big Money (5 contracts or more)
– Momentum confirming (I chart ok)
Fully-Liquid Markets:
Higher Volume, Lower margins, and fewer BIG MOVES.
– Rising Speed (1500+ speed)
– Big Money (20+ or more)
– Momentum confirming (multiple timeframes confirming, use slower charts (21/34/55/89)
Same patterns are used on both type of markets
Trade management is the same.
The only difference is going to be triggering your entry…look for MORE on the LIQUID Markets b/c its going to take more to make the market move.
How many ticks do we need for a real pullback/retracement?
– There is no exact number of ticks, or number of candles, or time it takes.
– Use your indicators as your guide and make sure you have the right pattern.
– Log into your advanced course or watch the basics video on the blog
– We start with a 10 tick stop and then move to -5 ticks with my first target of +5 ticks, and then move my stop to entry+0 ticks when i get my second target, then trail my stop looking for a final target at the next major level of s/r
Use the trend channel tool
Adding the Trigger-Lines Indicator to other charts
– Open the indicator settings which are posted in the advanced course
– Then add this indicator to any chart
– Once you have it added and it looks correct, then save the chart with a new chart template.
– Then in the future you can load the new chart template anytime you need it.
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Candlestick Patterns give us easy clues
– Hammer Patterns are always easy clues
– Big Full-bodied candles are easy clues
– Inverted patterns are clues
