Edition 1037
July 19, 2024
Learn the Art of Trading Joe Ross' Way!
"Heads and Shoulders patterns, like truth, beauty and contact lenses, are in the eye of the beholder." -- Master Trader Joe Ross
Master Trader Joe Ross
Author, Trader, Trading Mentor, and Founder of Trading Educators, Inc.
Developer of Instant Income Guaranteed
Chart Scan with Commentary: Long Cluster Breakout
Before starting to seriously trend down, the Canadian dollar (C$) had been very strong, holding its own against the U.S. dollar. It had definitely stayed close to parity with the U.S. currency. The Canadian economy was in relatively good shape.
The nice part of the C$ downtrend is that there was a Long Cluster breakout available on the daily chart. It would seem that C$ is headed for 90 cents in the not-too-distant future, maybe even by the time you get this issue of Chart Scan.
On the chart above we see the Law of Charts at work. First there is a fairly level long cluster ahead of the downside breakout. But, was there a way to tell which way prices would actually break out?
Notice the 1-2-3 low made during the period of price consolidation. Next, look at how prices failed to violate the #2 point, and, in fact, reversed direction at the arrow. This demonstrated significant weakness in the C$.
Please notice where I drew the "support" line on the chart. Although prices dipped below that line, they never closed below that line until the breakout. The overall lower highs contributed to a downside expectation. Finally, prices broke decisively below the support line. The Long Cluster breakout and how to trade it are discussed in my book Day Trading, and at my 2-day Day Trading seminar. It is part of the Law of Charts.
© by Joe Ross, first release 2014. Re-transmission or production of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc.
Master Trader Joe Ross
Author, Trader, Trading Mentor, and Founder of Trading Educators, Inc.
Developer of Instant Income Guaranteed
Trading Article: The Art of Knowing
If you're an eternal optimist, you hate bad news. But bad news is relative. What is bad news to some people is mere information, and possibly good news, to others.
Some traders hate bad news, and do anything to avoid hearing it. It takes many forms, and at Trading Educators we have heard them all.
Some traders keep losses on paper to avoid acknowledging them. Other traders avoid looking at performance statistics, such as a win-loss ratio, in order to keep up the illusion that they are making huge profits. Others fudge a little, making a bunch of low profit trades to artificially boost their win-loss ratio, and still others feed their accounts every month with the hope that someday they'll make the huge profits they've been hoping for.
In the end, these are all just ways of using...read more.
© by Joe Ross first release 2014. Re-transmission or reproduction of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc.
This newsletter and future publications are created to keep Master Trader Joe Ross' lessons readily available to traders that want to learn and improve their skills and to show his written word is still very relevant in today's trading world. He passed away on September 7, 2021 and will be greatly missed, but his writings will stand the test of time for generations to come. Take it to heart and learn from the best through Joe Ross' trading examples and articles which have impacted thousands of traders on every continent for over 60 years. Enjoy and let's start learning the art of trading Joe Ross' way.
Professional Trader Andy Jordan
Educator for Spreads, Options, Swing, and Day Trading, and Editor for 20+ years with Traders Notebook, daily advisory newsletter.
Professional Trader Andy Jordan is talking about one of the most important topics in trading, the trading plan. Don't miss this series, 1 of 8.
© by Andy Jordan. Re-transmission or reproduction of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc.
Professional Trader Marco Mayer
Educator for Forex, Futures and Systematic Trader
Creator of Ambush Trading Method, Ambush Signals, and Head of AlgoStrats.com
Ambush Performance Update & Special Offer - Offer Extended!
I thought it was about time again to give you an update on how Ambush is performing and let you know about our current limited special offers!
Performance Summary
After a drawdown in early 2023, we made it through it, and over the last 12 months, our performance went up again. All our sample portfolios are at or close to new all-time highs.
One example is our Medium Sample Portfolio Performance:
Many markets are performing exceptionally well currently, including stock indices like the Russell 2000 and currencies like the Euro. Please have a look at our performance reports for more details.
The Ambush System
It's been 15 years since I came up with the Ambush System back in 2009. Wondering where all those years went what's really astonishing to me is the fact that the Ambush System is still around and doing so well in so many markets. I simply don't know of any other trading system that has kept on performing that well for over a decade. I'd say there isn't even a second close competitor, most systematic traders are more than happy if their system keeps on working for a single year. Also, while most systems work in just one market, Ambush keeps on pushing to new highs in over 20 markets including a wide range of Futures and Forex markets!
Specials
Ambush Signals:
Ambush Signals does all the work for you and simply sends you the Ambush signals for each of the markets that you subscribed to every day.
As many of you want to subscribe long-term you kept on asking for yearly discounts so here's a special that covers that. These won't be available on the regular Ambush Signals page and will be available only for a couple of days so don't miss out! These are one-time purchases, not auto-renewal subscriptions.
There are three different subscriptions based on which markets you need, to learn more simply go to the Ambush Signals Page and click on "Compare Plans":
- 1 year of Ambush Signals Forex for $399 ($828)
- 1 year of Ambush Signals Mini for $599 ($1068)
- 1 year of Ambush Signals Pro for $899 ($1548)
Ambush eBook:
The Ambush eBook contains all the trading rules of the Ambush System, so if you want to make it your own or know what's behind Ambush Signals this is for you. You can get it now for just $999 instead of the regular $1799. But that's not all, if you buy the eBook you also get three months of Ambush Signals Pro for free to get you started on the right track. That is another $387 saving! All you have to do is use the coupon code ambush999 during checkout. But don't wait too long, this is a limited special as we can't give out a lot of Ambush Systems at that price!
Whether you're trading stock indices, currencies, commodities, or interest rate futures, you don't want to be on the other side of these day trades!
I keep hearing from our active subscribers about how surprised they are that it's so easy and simple to follow Ambush Signals. They simply had no idea you could actually day trade profitably with so little effort and time! As it just takes a couple of minutes a day you can day trade while still doing other things throughout the whole day and still have all the benefits day trading offers.
Enjoy the specials and hope to see you join us soon! Let me know if a link does not work.
Blessings,
Marco Mayer
Marco Mayer announced in 2016 a new AlgoStrats service was launched: Ambush Signals for Futures. This is how it all got started....read more.
The Ambush Trading System was created in 2009 by Marco Mayer. Since then it proved itself in the markets for over a decade and did so with exceptional results. It's the only trading system we're aware of that is still going strong after so many years. While Ambush is a day trading system, meaning you will always enter and exit on the same trading day - you don't have to sit in front of your trading screen. You simply place your entry orders when the trading session starts and come back at the close!
© by Marco Mayer. Re-transmission or reproduction of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc.
Even though Master Trader Joe Ross passed away September 7, 2021, his trading knowledge of over 60 years will carry a trading legacy and will live on. As you learn about Joe Ross and understand what he was trying to teach his students, you will find that within his writings, he had a very special gift. Most importantly, it was his students that kept him striving to provide comprehendable trading material to actually teach traders and become independent, to rely on anyone, but themselves.
Joe Ross has been trading and investing since his first trade at the age of 14, and is a well known Master Trader and Investor. He was able to survive all the up and downs of the markets because of his adaptable trading style, using a low-risk approach that produces consistent profits.
Joe is the creater of the Ross Hook™ and has set new standards for low-risk trading with his concepts of "The Law of Charts™" and the "Traders Trick Entry™." Joe was a private trader and investor for much of his life, but a serious health situation in the late 80's caused him to shift his focus, and that is when he decided to share his knowledge. After his recovery, he founded Trading Educators in 1988, to teach aspiring traders how to make profits using his trading approach.
Joe Ross has written twelve major books and countless articles and essays about trading. All his books have become classics, and have been translated into many different languages. His students from around the world number in the thousands. His file of letters containing thanks and appreciation from students on every continent is huge: As one student, a successful trader, wrote: "Your mastery of teaching is even greater than my mastery of trading".
Joe Ross holds a Bachelor of Science degree in Business Administration from the University of California at Los Angeles. He did his Masters work in Computer Sciences at the George Washington University extension in Norfolk, Virginia. He is listed in "Who's Who in America." After 5 decades of trading and investing, Joe Ross still tutors, teaches, writes, and trades regularly. Joe is an active and integral part of Trading Educators. He is the founder and contributor of the company's newsletter Chart Scan™.
Learn the Art of Trading Joe Ross' Way!
"Heads and Shoulders patterns, like truth, beauty and contact lenses, are in the eye of the beholder." -- Master Trader Joe Ross
Joe's philosophy for helping traders is:
"Teach our students the truth in trading - teach them how to trade."
and
"Give them a way to earn while they learn - realizing that it takes time to develop a successful trader."
Joe sets forth the mission of Trading Educators as follows:
To show aspiring futures traders the truth in trading by teaching them how to read a chart so that they can successfully trade what they see, and by revealing to them all of the insider knowledge they need in order to understand the markets.
To enable them to trade profitably by training them to properly manage their trades as well as their mindset and self-control.
To accomplish our mission for our students we educate them so that they know and understand:
Benefits for Our Clients:
- Where prices are likely to move next.
- Independence from complicated trading methods, magic indicators, and black-box systems.
- Independence from opinion, anyone's opinion, including their own.
- Independence achieved through knowing how to read a chart.
- Independence through having knowledge of insider actions.
- Independence achieved by taking holistic and eclectic approaches.
- Independence coming from knowing how to manage both the trades and themselves.
- Independence because they understand and trade what they see.
- Independence because they have learned how and why prices move as they do, through studying the truth in trading and the truth about markets.
Students learn only proven methods and techniques, which helps them to preserve capital and create more consistent profits; they are offered simple methods that will assist them to earn while they learn.
- They learn to work smarter and more effectively.
- They learn to treat trading as a business; we offer no Holy Grail or magic systems.
- They learn to adapt to changing market conditions.
- They learn a systematic approach to trading rather than a mechanical system for trading.
- Why prices will move there.
- Who and what cause prices to move.
- How far prices are likely to move when they do move.
- Their own role in the movement of prices..
- How to take advantage of the knowledge they receive.
- How to properly manage and exit a trade which they have entered.
- How to manage themselves and acquire the discipline needed to become successful traders.
Read some personal testimonials which Joe has received.
WE APPRECIATE YOUR TRUST IN US AND THANK YOU FOR YOUR BUSINESS!
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To view previous published Chart Scan newsletters, please click on the "newsletter" button located at the top of our website.
A WEALTH OF INFORMATION & EDUCATION:
Joe Ross-Trading Educators' popular free Chart Scan Newsletter has been published since 2004.
Note: Unless otherwise noted, all charts used in Chart Scan commentary were created by using Genesis Financial Technologies' Trade Navigator (with permission).
Legal Notice and Copyright 2024 - Published by Trading Educators, Inc.
Chart Scan is a Complimentary Educational Newsletter.
Dear Traders,
Master Trader Joe Ross passed away September 2021, and prior years he was continously sending me folders filled with Chart Scan and Trading Articles. The emails would be titled "More to follow" and I would reply, "Keep'em coming". I am calling these lessons "hidden vault" material because if Joe were still alive, this is exactly what would be shown in your inbox every Friday morning. This is not regurgitated material; this is new stuff written by Joe or as he would refer to it with such passion, "This is good stuff".
As we continue to receive newsletter sign ups, new students from every continent will start to learn trading Joe's way especially in this challenging market. This is where he would reinforce to his students, yes, that includes you, that learning to trade is possible even in this environment, "A chart, is a chart, is a chart". His writings will stand the test of time to provide teaching lessons and guidance.
The proceeds of Trading Educators will continue to support Joe's wife, Loretta, of 62 years of marriage, which she is our number one priority. We thank everyone with continued support and prayers for her well-being in late stages of dementia.
As expressed in the past editions, the trading world has lost a unique and passionate trader and his material will continue to be relevant. Let's start learning to trade Joe Ross' way with our future Chart Scan publications. I am here to help, so feel free to email me with any comments, questions or concerns.
This newsletter and future publications are created to keep Master Trader Joe Ross' lessons readily available to traders that want to learn and improve their skills. Our father passed away on September 7, 2021 and will be greatly missed, but his writings will stand the test of time for generations to come. Take it to heart and learn from the best through Master Trader Joe Ross' trading examples and articles which have impacted thousands of traders on every continent for over 60 years.
Happy trading,
Martha Ross-Edmunds
© by Trading Educators, Inc. Re-transmission or reproduction of any part of this material is strictly prohibited without prior written consent
