- Big Money Trigger Line
o One of our proprietary indicators available to advanced members
o Slower version of our trigger line
o This is where the BIG MONEY is often entering and exiting their positions
o This is also OFTEN in the middle of the short term trading range
o The reason why BIG MONEY traders will use this is because on their daily charts, this is the same as the trigger line on our 13range charts.
o Avoid trading around the BMT if we’re in the middle of the range (most often)
o I’m watching this level on ALL different timeframes to make sure we don’t
o Its ok to use it just like the regular trigger line, for entries stops and targets
o But remember the BMT will not be the highest percentage location, we assume its in the middle.
- Calculate profits
- 4 contract trade
o 2 contracts (1/2) at first target and move stop to entry
o 1 contract (1/4) at 2nd target
o 1 contract (final ¼) off for the runner
- Example:
- 843 get long on crude with 4 contract
- 2 off at T1 (should be +5) but slippage got me filled +6, this = 12 ticks profit total for the first 2 contracts
- Move stop to entry, lock out the risk, let my trade run
- Take 1 off (1/4) at 10 ticks of profit for another 10 ticks
- Take the final 1 (1/4) off at the final target, which will be different for every trade, to complete the trade management.
- RANGE VS. MINUTE CHARTS
- 13range = 13 ticks of trading range for every bar
- 13minute = 13 minutes of time in every bar
- 1000Volume = 1000 contracts of volume for every bar
- Reasons include: easier to manage risk, easier to identify patterns, easier to learn
- Goal of this indicator is to confirm when MULTIPLE Timeframes confirm in the same direction on momentum
- o When we have 2 timeframes confirming momentum, this dramatically increases our % for success
- o When both momentum indicators are pointing DOWN we color it RED
- o Unless oversold
- o When both momentum indicators are pointing UP we color it GREEN
- o Unless overbought
- o When they do NOT agree we leave it BLACK/NO Color
- o Very easy to use, just download the indicator and load the proper template:
- o 21range = Fast21
- o 13Range = Fast13
- o You can ‘create’ for any market you wish to follow.
- o Just have the JJMomentum point towards another timeframes.
- o We’ll do detailed training on Wednesday for our me
- Auto Trader
- Auto trader does 100% of the work for you
- Comes with advanced membership
- Takes the trades, manages the trades, exits, everything
- Can run 24/7
- Operate on 1 or 1000 different markets
- Training on Wednesday with members
- Settings are posted in the adv course download section
Tick values for the different markets:
ES = 12.50/tick
CL = 10/tick
GC = 10/tick
TF = 10/tick
6E = 12.50/tick
· Our trading schedule for the holiday this weekend:
· Sales / Support is open the whole time
· Closed: Thursday and Friday
· Re-open on Wednesday the following week @ 745am
· Monday is the holiday, traveling back on Tuesday, back in the room on Wednesday morning.
· Closed for 4 days (includes the holiday)
· If you need another 4 days on your trial b/c we’re closed email us for more info.
This week we have a double whammy:
- OPEX week (most traders would rather be at the dentist)
- Long Weekend, Monday is holiday
Expect Thursday and Friday to be very challenging, and with Monday the holiday you can assume most professionals will leave after Wednesday.
3 options for trading over the holiday:
- Wait patiently for the SPEED to be there and use double confirmation to enter your trades
- Take a vacation, rest up for the rest of the quarter
- Use market replay to go back in time and trade a day when there was NOT a holiday.
Posts
My definition of a ‘scratch trade ‘ = when I take profit at my first profit target, and then I get stopped out afterwards. This earns me a small profit first, and then gives that profit away with the stop out.
ReplyDelete• First target = +5 ticks
• Move stop to entry-5 ticks at first target. (5 ticks of risk on the trade)
• Get stopped out at -5 ticks (after making 5 ticks of profit already)
For example: I get long and the trade goes for +5 ticks of profit. I move my stop to entry -5 ticks.
If the market then stops me out for -5 ticks, this is a ZERO result.
I earned 5 ticks of profit, then moved my stop to entry -5 ticks, and then stopped out entry -5 ticks.
I earn +10 ticks on the first, and then give back -10 ticks at the stop.
I trade 4 contracts, and i take a portion of the position off at different locations during the trade.
ReplyDeleteLet’s take a long position for example.. I make money when the price of the contract rises.
I buy 4 contracts at 100
• I sell 2 of them at 105
• I sell 1 of them at 110
• I sell the final contract at 115
We earn 10 ticks (2x5) on the first ‘target’ (105)
We earn 10 ticks (10x1) on the second ‘target’ (110)
We earn 15 ticks (15x1) on the third final ‘target (115)
Total them up and we earned 35 ticks total, buy trading 4 contracts, taking profit at specific places along the way.