Edition 970
March 10, 2023
Let's Learn the Art of Trading Joe Ross' Way!
"Any trader who goes to a psychiatrist ought to have his head examined." -- Old Trader
Master Trader Joe Ross
Author, Trader, Trading Mentor, and Founder of Trading Educators, Inc.
Developer of Instant Income Guaranteed
Chart Scan with Commentary: Charts
Joe! here is a chart that I set up. Please check this to see if I marked the RH (Ross Hook) & TTE (Traders Trick Entry) or if I missed something. The blue arrows with tails. Please tell me what is a good mkt. to trade and the chart set ups. Is there a way to program the RH & TTE on the chart?
Red ? = not a RH
Blue ? = is a RH
I didn’t mark every error that might be there and in many cases I couldn’t figure out if you were considering all your arrows with tails to be for long positions. It seemed that way because you mark a 1-2-3 high in red with the words “short.” However, your red arrow is pointing to the bar after the RH. I didn’t understand the purple arrows at all.
From what I could see, you are missing the boat on what is a RH. It was not always clear what the arrows are pointing to.
The very first arrow on the left: I couldn’t see in any way that could possibly be a RH (?)
The arrow with the very long tail (#3) is not a RH. A #3 point is not a RH. It can be, but in this case, it doesn’t fit the description. “An RH is the first failure to go (lower/higher) following the breakout of the #3 point of a 1-2-3 formation, or the first failure to go (lower/higher) following the breakout of any form of consolidation.”
I did not see a TTE marked anywhere.
Any market is a good market to trade depending on what you want to accomplish. If you are going to trade 1-minute charts, just make sure they have well-formed formations with plenty of liquidity. In addition, they need to move on a 1-minute chart with enough momentum to quickly bring you a profit. Personally, I prefer10 minutes for day trading.
Any of the Law of Charts formations provide good setups for trading. The ones shown in our various webinars and eBooks are ones you can look at.
People have programmed the Law of Charts with varying degrees of success. I have never seen nor heard of anyone doing it perfectly. The closest I’ve seen was done by Marshall Sass. It is available via Trade Station software.
© by Joe Ross. Re-transmission or production of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc.
Traders Trick Entry Recorded Webinar - Enjoy 30% Off
Use Coupon Code During Checkout: tte30
Offer Ends Soon, 3/13/2023
Master Trader Joe Ross
Author, Trader, Trading Mentor, and Founder of Trading Educators, Inc.
Developer of Instant Income Guaranteed
Trading Article: Q&A - Questions from a Student in Europe
Q: Hello! I bought the Trading with More Special Set-Ups Webinar Recording. Do you think it’s a good idea to trade on EURUSD, GBPUSD, USDJPY, AUDUSD, USDCAD, EURGBP on 1h chart with the rules given in the webinar?
A: Yes, you can trade all Forex with the special setups. As a matter of fact, you can also trade futures, CFDs and stocks with these same rules.
Q: Take Profits 1:1 or 2:1 - which will be better...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.
Professional Trader Andy Jordan
Educator for Spreads, Options, Swing, and Day Trading, and Editor for 20+ years with Traders Notebook, daily advisory newsletter.
Trading Article: How Do I Become Flexible in Trading?
One mark of a flexible trader is he/she has a carefree attitude when it comes to executing a trade. They don’t allow themselves to get bent out of shape over a trade. They don't sit and think over and over about their strategy. They have done their homework. They’ve developed a sensible trading plan, and when the opportunities present themselves, they pull the trigger on the trade. They don't question...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.
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: YouTube Series: Marco's Trading Q&A
Hi Trader,
now this has been a quite volatile week so far in many markets and I hope you've also been able to capture some nice profits out of these wild moves!
Thanks to my trading being almost completely systematic right now I still had a few minutes to record a new video for YouTube and actually start of a new Series. In the first one I explain what a BID/ASK spread is for those of you who're completely new to this and talk about...read more.
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.
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 Ross is the creator 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™.
Joe's philosophy for helping traders is:
"Teach our students the truth in trading - teach them how to trade."
"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!
Check out our Blog!
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 2023 Disclaimer - 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. My 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
