Manage Trade Accounts & Our 3 Price Patterns

– Trading other people’s money

o What is the secret to finding clients to trade for?
o The easiest way to attract new clients is to find your passion, and your passion will sell itself.
o Talk to people about what you do
o Join a local community group

 Community service
 Church / spiritual groups
 Gym / Yoga
 Coach a football team

o Once you find the ‘passion’ then you need to be prepared for the situation

 Develop a track record, even with only 1 contract

• Something to show your potential client

o How will you structure your new managed accounts?

 Licensed Trader with NFA

• Take the Series 3 exam
• Register with the NFA as a Commodities Trading Advisor
• Licensed and regulated to manage money

 Use ‘Friends and Family Exemption’ which allows you to manage the accounts for others as long as

• You do NOT offer your services as a professional money manager
• You cannot do this for more than 15 people
• Dealer/Broker/Hold a License
• You can demonstrate the relationship to the account holder
• Contact your broker

– Our 3 trade patterns

o Wave: trending markets
o Breaker: sideways or trending
o 2-Step: sideways markets (reversal)

– Scaling into the Wave Pattern

o Example looking for a wave short

 Entry short at 13range trigger line
 Entry short at 21 range trigger line
 Final entry short at the 34 range trigger

o You need to make sure that the market is in a strong down trend

 I use the momentum indicator on the SLOWER timeframes to show you the overall direction.

– Different time and sales windows

o 1 is filtered for more contract sizes to help me see the BIG MONEY
o 1 is not filtered
o Match your properties to the properties listed in the advanced course.

– What is the difference between a range chart and a tick chart

o Tick charts each candle = specific amount of ticks
o Range chart each candle = specific amount of range (trading range in ticks)

– The Auto Trader Beta

o Looking for the next update ready for today
o Last week we had 90% winning ratio, but still not taking as many trades as I want

o I re-did the filters and waiting for the new version to be sent back to me so I can send it to you and keep working.

o Expecting this to be 100% complete by Jan 1 2011

– Automated Trade Management

o ATM Strategies