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Edition 973

 

April 7, 2023

trading education

 

Let's Learn the Art of Trading Joe Ross' Way!

 

Quote from an old trader

"I like trading; it fascinates me. I can sit watch others do it for hours."  -- Master Trader Joe Ross

 

 

Master Trader Joe Ross shares trading education

Master Trader Joe Ross
Author, Trader, Trading Mentor, and Founder of Trading Educators, Inc.
Developer of Instant Income Guaranteed

Chart Scan with Commentary:  Divergence – True or False?

Mr. Joe, I read a lot about 'divergences' in the markets. Divergence means prices going in one direction, and an indicator going in another. Is that right?

Mr. Joe, can you trade based on divergence alone? Can you look at divergence and tell that prices are about to reverse. Sorry prices are not clear detail, but I showed the trend needed for my question.

Joe Ross shares trading success with a divergences example trading education

Here's the problem with momentum - when it is used alone without some kind of confirmation, it is nothing more than a guess. At times it will seem to predict correctly, but at other times its predictions will fail.

One of the really silly things that many traders do is to look for confirmation from another momentum indicator. Posting RSI, Stochastics, DEMA, or %R for confirmation has to be the height of ridiculous. Yet many times we see traders doing exactly that. Wouldn’t you expect one momentum indicator to confirm another momentum indicator?

We could continue looking at the chart and find numerous examples of divergences that worked or failed, and confirmations that worked or failed.

We could easily find examples of whatever we want to show on the chart. And that demonstrates why divergences are not that valuable - they simply confirm our opinions rather than predict what will happen.

You will continue to hear about divergences whether prices move up or down. The ones that work will be shown as proof that divergences are important. The ones that don’t work will be quickly forgotten and replaced by a new one.

No one ever seems to consistently make money from divergence analysis. It is probably best to view divergences as "for entertainment purposes only" and make trading decisions based on firm rules, and detailed plans.

© 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.

 

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Master Trader Joe Ross shares trading education

Master Trader Joe Ross
Author, Trader, Trading Mentor, and Founder of Trading Educators, Inc.
Developer of Instant Income Guaranteed

Trading Article:  Wishing Upon a Star

When you wish upon a star, what do you wish for? If you're like most people, financial freedom is one of the first things on your list. If you had a million dollars, think of what you could do. You wouldn't have to ever work again. You could just sit on the beach and relax. But if you're like most traders, you couldn't stay away from trading even if you had infinite wealth.

What else could you wish for? A crystal ball, perhaps, or tomorrow's news. You would want to know what was going to happen tomorrow. You could anticipate market moves with unfailing accuracy. Think how easy trading would be! Wouldn't it be nice to be able to predict the future?

It's fun to wish that we could trade more profitably, but wishing can often be a sign of desperation. When we are in wishing mode, we wait passively instead of taking decisive action. We hope for miracles, and wonder if we'll ever see huge profits. But if we take proactive steps, we won't have to...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.

 

 

 

Andy Jordan Educator for Futures Trading Strategies on Spreads, Options, Swing/Day Trading, and Editor of Traders Notebook

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:  What is the Best Way to Enter or Exit the Spread Trades?

I think there is no “best way” to enter or exit spread trades, there is only "your way".  Let me explain:

I personally prefer the open and the close to enter all my spreads. I don’t like to watch my spreads during the day and I focus only on the closing price.

Most buying and selling is at the open and at the close, especially in thin markets. When you use a limit order you can enter...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.

 

 

Marco Mayer shares trading success with Ambush Trading Method example trading education

Professional Trader Marco Mayer
Educator for Forex, Futures and Systematic Trader
Creator of Ambush Trading MethodAmbush Signals, and Head of AlgoStrats.com

Trading Article:  (Good) Trading Is Boring

When you start out trading, it’s pretty much all about the excitement. You watch every trade tick by tick, gazing at a chart ticking up and down together your P&L. You’re long. When it goes up, you feel excited because you’re making money, if it goes down you’re excited because you’re...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!

 

LEARN MORE - AMBUSH SIGNALS

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.

 

About Joe Ross

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.

Master Trader Joe Ross shares trading education

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!

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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 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,

Joe Ross' daughter Martha Ross-Edmunds

Martha Ross-Edmunds

© by Trading Educators, Inc. Re-transmission or reproduction of any part of this material is strictly prohibited without prior written consent

 

Derivative transactions, including futures, are complex and carry a high degree of risk. They are intended for sophisticated investors and are not suitable for everyone. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results, and all of which can adversely affect actual trading results. For more information, see the Risk Disclosure Statement for Futures and Options.