Edition 804 - November 29, 2019
A MESSAGE FROM MASTER TRADER JOE ROSS:
I am thankful for good health, and the ability to still trade, which I do almost every trading day. I’m thankful that my mind is still intact, and to be able to share what I’ve learned with others.
I’m thankful for our wonderful staff at TE, and for the many customers who have stuck with us over the years.
I’m thankful that the world is still mostly at peace and that I live in a country that offers much in the way of freedom. To be able to openly worship God is a great blessing for me, and others who feel the same way.
I have a roof over my head, food to eat, clothes to wear and a family to love.
I’m thankful for each one of you, and wish for every possible benefit to be yours,
Happy Thanksgiving,
JR
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Master Trader Joe Ross
Author, Trader, Trading Mentor, and Founder of Trading Educators, Inc.
Developer of Instant Income Guaranteed
Chart Scan with Commentary: Long-Term Trading
I am in shock! Someone wrote in to ask about long-term trading. Do traders still trade that way? I thought just about everyone is trying to be a day trader these days. The following is the question posed to me:
Hey Joe! Do you have a simple way to follow a trend? Something that tells me when to get in and when to get out?
Take a look at the chart below. Then I’ll explain it. It is one of the first ways I learned to trade. With $125 per round turn commissions, I had to be able to stay in a trend just to get out of the commission hole I was in. You guys have no idea what it was like having to pay such high commissions.
Starting from left to right: You were already short with prices moving into the first arrow. So when the blue line crossed the red line, you covered your short position. Notice that blue at that point was not indicating any direction—it was flat. When blue again crossed red, you went long—blue had upward direction.
Blue crossed red, so you had to sell to cover your long, and go short. You were probably stopped out with a loss.
Blue crossed red, and you went short, for a real nice ride. Blue crossed red again and you covered your short. Blue and red began running together. Go trade something else.
Finally, they began to separate again (at the second downward red loop, which came after the breakout of the trading range), blue crossed red, go short. Blue crossed red cover short, and go long. Blue crossed red, buy back long, and go short.
The method says you cannot perform the same action twice in a row. You either get out, or get out and reverse. You have to play with it for a while, across different markets. It works, and I used it for a long time.
What is the blue line? It’s a simple 18 bar moving average. It is really the trend line. What is the red line? It’s a simple 9 bar moving average. It is the trigger line. Crossing it triggers some kind of action. Making the moving average exponential, might make the method even better. I never tried it, because my weekly chart service had them as simple moving averages.
© 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.
Master Trader Joe Ross
Author, Trader, Trading Mentor, and Founder of Trading Educators, Inc.
Developer of Instant Income Guaranteed
Trading Article: Hindsight
Do you remember your first impressions of trading? Perhaps you were young and had a strong desire to achieve early success, but if you were like most people, you had unrealistic expectations about the financial resources and skill level that were needed to trade profitably. You probably figured that you could just open a typical online brokerage account and turn $1,500 into a fortune. You probably didn’t hold this misconception very long, though. Soon, you learned that you needed...read more.
© 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.
Philippe Guartier: Administration and
New Developments of Instant Income Guaranteed
Trading Idea: Instant Income Guaranteed
EHTH Trade
- On 4th November 2019, we sold to open EHTH Dec 20 2019 50P @ 0.50, with 46 days until expiration and our short strike about 32% below price action.
- On 13th November 2019, we bought to close EHTH Dec 20 2019 50P @ 0.25, after 9 days in the trade.
Philippe
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© 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.
Professional Trader Andy Jordan
Educator for Spreads, Options, Swing, Day Trading, and
Editor of Traders Notebook Complete
Trading Article: Is learning the trading business like learning any other business?
The importance of how you learn the business of trading cannot be minimized because of the factors that determine your success or failure. Learning the business of trading is...read more.
Andy Jordan is the editor for Traders Notebook which shows you Futures Trading Strategies in Spreads, Options, and Swing Trades. Learn step-by-step how to trade successfully.
© 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
Trading Article: Manual Backtesting Pitfalls
If you don’t want to learn how to backtest automatically right now but still want to profit from backtesting, you got to do it manually. That’s how I started too many years ago. I still remember sitting there with printed charts and writing down trade results on a separate sheet of paper.
Now there are some pitfalls you better...read more.
Marco Mayer is an Educator for Forex, Futures and a Systematic Trader, so if you have questions, he wants to hear from you! This email address is being protected from spambots. You need JavaScript enabled to view it.
Check out Ambush Signals
LEARN ABOUT AMBUSH TRADING METHOD
© 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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