November 8, 2010
Day Trading Strategies for New/Beginner Traders
– New Divergence Method – When do I use the Pink line on my Trade Management Chart? When do I leave the stop alone? o Look for divergence, and then tighten the stop – What’s the best way to learn these patterns? – AB = CD Pattern – How do you find your Support and […]
Continue reading November 5, 2010
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Trend Reversal Day Trading Patterns Gold and Crude Oil Futures
We have non-farm payrolls @ 830am est this morning so we’re setting up charts looking for the best opportunities The dollar index is where we begin, and we can see the following – Middle of the trading range from Wednesday’s FOMC announcement – We’re falling average true range – Inside day – Inside the wedge […]
Continue reading November 4, 2010
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2 Losses and 100 Ticks on Gold, Crude Oil and E-mini Russell Futures
830am est – Jobless claims are out and higher than expected – The dollar index futures is giving us mixed signals o Slow speed o Low ATR o Wide trading range o Lots of upside and downside potential – The crude oil futures have broken their overhead resistance and broken out above the wedge o […]
Continue reading November 3, 2010
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Day Trading Strategy Gold, Crude Oil and e-mini Russell Futures
We have a busy day, keeping an eye on the alarm clock to make sure we don’t miss any news events today We also know that today is FED DAY – Good volume in the early morning hours (800-1045) – Volume will taper off earlier than normal – Light volume ‘fluttering’ of price into the […]
Continue reading November 3, 2010
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Discipline Cycle Workshop; Day Trading Strategy to Make Every Trader Profitable
(This is a sample of the entire chapter in the advanced course, Discipline Cycle & Emotions) A day trader needs protection from many things. The most important protection is from ourselves. • Tough Beginning, lost money, lost confidence • Over-trading, under-capitalized, no rules or mechanical approach. • 2nd blown account was the bottom. • The […]
Continue reading November 2, 2010
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E-mini Russell, Crude Oil, Euro Futures Day Trading Strategy selling highs of wedge pattern
We have our news events under control, alarm is set for 915 ahead of the US open, so we have almost an hour of time to look for patterns. We look at the dollar index futures and we see some conflicting information from the market – Narrow trading range compared to previous day’s this week/month […]
Continue reading November 2, 2010
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Average True Range and Dollar Index Futures Strategy
– Average True range and the Dollar Index o Dollar index: Negative correlation When the dollar moves everything else moves We know when the dollar is flat everything else is flat We also know that when the dollar tests highs/lows the rest of the markets tend to jump Stay away […]
Continue reading November 1, 2010
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Crude Oil News earns easy profit with Dollar Correlation and Gold Futures
We have an expectedly-slow Monday morning for a few main reasons – Halloween last night here in the US – Super Tuesday elections tomorrow – Monday’s are always a little slower at the open – The dollar index futures are confirming the concerns over trading this morning o Inside day o Narrow trading range o […]
Continue reading November 1, 2010
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Beginner Day Trading Strategies; charts, divergence, time and sales, trend lines, Pace of Tape Indicator
– What are the signs of a low volume market? o Momentum is oversold to overbought very quickly o Slow speed of tape (POT) o Price gravitates to big round numbers o Price gravitates towards trend lines o Price gravitates towards obvious levels of support and resistance Beginner’s Training: – Margin on Gold and Crude […]
Continue reading November 1, 2010
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Crude Oil Futures Struggling, We Have Two Options
Crude Oil Futures: 10:45am est – Crude oil futures struggling to tell us where they want to go next – The big jump above 83.00 and trying to hold and the sellers are looking to pull it back down – We have two opportunities for trading: o To buy the break back into the range […]
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