John Murphy has written 8 highly touted technical analysis books and today you’ll be sitting in on one of his seminars for no expense. His expertise is known the world over, his teaching style is impeccable, and he’s agreed to give access to a limited number of people for one of his most sought after seminars!
John’s seminars are usually reserved for paying attendees so please take advantage of the chance to learn from a man with over 30 years successfully trading using technical analysis.
I have been involved in the securities business for my entire adult life, having been a trader at both the retail and institutional level. Trading stocks, or forex pairs is a wonderful way to stack up money, if you have the experience and knowledge to trade successfully.
Unfortunately, that learning curve can be a steep one, and expensive. With that in mind, I looked over a program to trade equities that is specifically designed for beginners. As you may know, most stock indexes are composites of a basket of equities trading on either the NYSE or the NASDAQ exchanges. These indexes are traded in a variety of methods ranging from Options to Futures Contracts, and usually originate on the Chicago Mercantile Exchange or the CBOT. The nice thing about stock indexes is there is great transparency in trading these issues. The markets are well regulated, liquid, and orderly.
Many novice traders purchase trading robots or exotic trading systems that may cost as much as $10,000 a year, and might gave limited success. I do not recommend purchasing bots or high priced systems to start. I also recommend that all traders “paper trade” on demo account until they are proficient in a single market. I do not recommend trying to trade multiple markets in the learning stage of trading, as each market has a distinct personality and demeanor. Learn to trade one market proficiently, then you might choose to move on to others. Several trade set-ups repeat themselves on a regular basis in the market. This can be attributed, theoretically, to a number of factors.
1. Technical traders trade in tight parameters and use similar indicators. Thus, support and resistance may become self-fulfilling trading patterns.
2. Some behavior economists believe the human response to a given set of trading stimulus is a constant, thus the repetitive set ups for profit.
3. Wave theorists believe the market moves in distinct and predictable patterns based upon the actual chart formations. Whatever the reason, if a novice could learn just one of these consistently profitable trade set-ups, he could be quite adept at trading the markets.
stock and futures trading trade revealed
German trader Karl Dittman has identified one of these patterns with great success and accuracy and has published his work and received a very receptive response, from experienced and inexperienced traders alike. His book, Stock Index Secret Trade would allow the greenest trader to be very profitable over a long period of time. The single trade he uses, is very easy to spot, often overlooked, and is consistent winner. Any novice would profit greatly using this simple but effective system
Day trading the ES emini using the short time period and small gains is called scalping, and it is the style of trading I use. I don’t long for long term trends, and I don’t hold trades overnight…
In the last video on the S&P 500 (10/27), we indicated that this market may have topped out for the year. Today’s action puts in place a weekly “Trade Triangle” which indicates that a temporary or a permanent top is now in place for this market.
In this latest video, I share with you some of the ideas that I think could potentially come into play for this market. Not only do I have some downside targets in mind, but I also see a pattern that could evolve in the next several weeks which will confirm that we’ve made a serious high in this market.
Watch this FREE and informative video-Has the S & P 500 broken final support?
This is a video version of the chart in the post below. I try to go into a little more detail in the decision making process that I use and clarify the rationale for some of the trade entries.
The market did not display a huge range today but bounced around between about 15 points, staggering about like a drunken sailor. It made for some very nice trades and I was fooled on one trade badly, even though the setup was fairly decent. Needless to say it was a fun day to trade and I came on pretty well in the black.
There is compelling evidence that we may have seen a top in the S&P index. In this new short video, I show you the evidence that I have found which may point to the fact that we are going to see a correction in this index.
It might surprise you to know that many days I trade I really don’t pay attention to whether the market goes up or down. Does that sound crazy to you? How can you trade and not follow where the market stands at a given moment?
I am scalper, that’s why. I am looking for very short fluctuations in the markets to exploit and earn 12 ticks, or three points. It’s my only goal in trading. I don’t care if the market it going up or down as I am as comfortable being long as I am being short the ES Emini contract. All I seek is movement and the ability to ascertain which way the market may move for the next ten minutes.
I don’t let any trades go overnight, ever.
I don’t let a winning trade turn into a losing trade. (This is sometimes easier said than done)
I have a system, and I never “guess” what the market might be going to do. The variables in my system must meet certain criteria before I trade.
If I don’t feel good about a potential trade, I don’t take it.
I use an 89 period SMA and if the price action is significantly above the average, I only take long trades and, conversely, if the price action is significantly below the average I take only short trades.
I avoid counter-trend trades like the plague, yet I find myself taking the occasional counter-trend trade. Don’t ask me why, I do not know why.
I use the MACD, CCI, Average True Range, DecisonBar and Stochastic indicators in combination to select my trade.
The entry points for the CCI and Stochastic indicators must be in agreement for me to take a trade.
I never break my entry rules.
I pay close attention to pivot points, and Fibonacci Retracement levels. I use these tools as background information, not primary indicators.
I recommend most people start with the YM contract, and then only after a month or so of paper trading where the trader can consistently profit on a daily basis.
There are no born traders, there are well trained, intuitive traders.
My mother thinks trading is for idiots. (I hope she is wrong, on this one)
On the CCI, pay careful attention to the +100 and -100 levels, they are your entry points.
On the stochastic indicator, pay careful attention to long and short crosses.
Never trade without stops, ever. Never trade without stops, ever.
Have a target profit point, too.
I sometimes let trades run, but you often risk giving back all your gains when you implement this strategy. Pigs get fat, hogs get slaughtered.
Decision Bar has kept me out of more terrible trades than I care to think of.
A change in the direction of the divergence line on the MACD might be a good reason to consider exiting a trade.
I never double down on a losing trade.
I’ve never been able to make head or tail of chart formations, as they make no sense to me. They may work for some people, I ignore them. To me, Head and Shoulders is shampoo, not a potential entry point.
While you should profit most days, there will be days when you don’t. That’s okay.
Here’s One Indicator The Government Can’t Ignore
There is an indicator which has been around since 1957. It has accurately forecasted every inflationary and deflationary cycle since.
I believe that this is the indicator that everyone should watch. If you trade stocks or futures and are interested in world trade trends, this is the indicator to track.
This is my third video on this indicator.
CLICK HERE FOR THIS ENLIGHTENING FREE VIDEO
Take a few minutes to watch todays short video and see how you can benefit from this indicator. There is no fee and there is no registration required.
The video is free to watch and there is no need to register.
 |
