Edition 647 - November 4, 2016
You asked for it and we listened. Andy Jordan is now offering a new service called Traders Notebook Outrights for swing traders. Also, scroll down to read about Marco Mayer's AlgoStrats:FX Live Trading Account which gained about +4% with a very low target risk of 0.5% per trade.
The Law of Charts with Commentary
by Master Trader Joe Ross
Author, Trader, Trading Mentor, and Founder of Trading Educators, Inc.
A Traders Trick Entry (TTE) Question
This week someone asked me: "Joe, would you have taken the Traders Trick even though prices finished in the lower half of the price bar?"
My answer was "I would not take it!" We were looking at a Traders Trick Entry ahead of a breakout of the #2 point of a 1-2-3 low at the end of a swing. However, since my objective would have been scalp money around the #2 point, prices would have had to move quite a bit on the next bar just to reach the high of the of the #3 bar. As you can see, price did not reach the #2 bar until a day later.
Over the years, many refinements have been made to the TTE. These refinements have made using them result in a very high win percentage. You can learn about the TTE refinements by signing up for the Traders Trick Advanced Concepts Webinar.
© by Joe Ross. Re-transmission or reproduction of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc.
Question from a Subscriber:
A reader asks: How do you handle fear? I seem to have plenty of it.
by Master Trader Joe Ross
Author, Trader, Trading Mentor, and Founder of Trading Educators, Inc.
Let’s get one thing straight. Fear, for the majority of traders, is a very real thing. You have it, I have it. Others have it as well. What is it that traders fear? The top three, in order, are:
- Fear of missing a trade.
- Fear of losing money.
- Fear of being wrong and losing face.
In order to become a professional trader, you must learn to deal with fear. The first step is to acknowledge that you have it, which is what you have done. Once you admit to fear, you can begin to deal with it.
When you notice the impulse to trade based on strong fear, it is usually best to literally step out of the trap by stepping out of the situation.
You need to get up, walk away from the computer. Turn off the television if it's tuned to a financial station, take a walk, get something to eat, go outside and cut the grass, water the lawn, or do anything that will move you out of the fear/panic mode.
Don’t return to your trading desk until you have managed to achieve some emotional control over your fear/panic reaction. If you can’t get a grip on your fear, then don’t come back that day.
Most likely you will find that even if you keep thinking about the miserable market conditions while you water the lawn, simply getting away from the keyboard and monitor is enough to make a difference. It removes the demand to take action, and gives you the mental space to gain perspective and let go of your impulsive, fear-based reaction.
© by Joe Ross. Re-transmission or reproduction of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc.
SLCA TRADE
Instant Income Guaranteed
Developer: Joe Ross
Administration and New Developments: Philippe Gautier
On 7th September 2016, we gave our IIG subscribers the following trade on SLCA, which was showing strong accumulation. We decided to sell price insurance as follows, in 2 equal steps:
- On 8th September 2016, we sold to open SLCA Oct 21 2016 33P @ $0.30, i.e. 30$ per option sold, with 43 days to expiration, and our short strike well below a major support zone.
- On 12th September 2016,we sold to open SLCA Oct 21 2016 33P @ $0.50 on a good till cancelled order.
- On 20th September 2016, we bought to close SLCA Oct 21 2016 33P @ $0.20, after 10 days in the trade, for quick premium compounding.
Profit (average): $20
Margin: $660
Return on Margin Annualized: 110.61%
We have also added new types of trades for our IIG daily guidance, "no loss" propositions with unlimited upside potential, still using other people's money to trade.
Philippe
Instant Income Guaranteed
♦ SIGN UP TODAY! THIS IS WORTH THE INVESTMENT ♦
This includes a daily 80+ page report along with a daily podcast!
© by Joe Ross and Philippe Gautier. Re-transmission or reproduction of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc.
Traders Notebook Outright Futures Trading
by Master Trader Andy Jordan
Educator for Spreads, Options, Swing/Day Trading, and Editor of Traders Notebook Complete and Traders Notebook Outrights
Traders Notebook Outrights gives you high probablity trades that are hand-picked for optimum results. If you are a futures swing trader looking for real trades while learning the correct way to place stops and the art of trade management, this is for you.
Traders Notebook Outright Guide explains the Outright trading service from Trading Educators. It shows you around on the Outright Campus, and how to use the information provided by the service.
© 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.
This Week's Blog Post: Overconfidence
by Master Trader Andy Jordan
Educator for Spreads, Options, Swing/Day Trading, and Editor of Traders Notebook Complete and Traders Notebook Outrights
When traders are hot and seemingly cannot lose. When they make several trades that perform exceedingly well, there is a surge of human pride. They feel like...read more.
© 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.
Golden October for AlgoStrats:FX
by Master Trader Marco Mayer
Educator for Forex and Futures, Systematic Trader, and
Creator of Ambush Trading Method and AlgoStrats.com
Marco Mayer and his subscribers had a great trading month in October. The AlgoStrats:FX Live Trading account gained about +4% with a very low target risk of 0.5% per trade. This was possible thanks to a winning rate of about 85% while having a profit to loss ratio of about 2:1 at the same time. Sounds awesome? We think so too, especially considering we're trading just once each day and usually are done trading within 2-3 minutes.
Don't forget this happened not just on some spreadsheet with some numbers on it or on a simulated account, but on a real money account that is fully transparent to all AlgoStrats:FX subscribers.
To learn more, here's a video where Marco walks you through the recent performance of AlgoStrats:FX:
© 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.
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Note: Unless otherwise noted, all charts used in Chart Scan commentary were created
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