Greetings,
Those of you that attend our training sessions on Monday, Tuesday and Wednesday have heard me say this over, and over and over again ad nauseam. "Patterns Repeat!" But .. they do, and that's the beauty of learning the patterns we talk about. If you can see the set up of the same pattern and on average nearly 8 out of ten times the results are the same ... well ..DUH! Those are very strong odds and as a trader you're looking for trades with strong odds of success.
Let me demonstrate what I'm talking about. In the KPMANUALthere is an example of a FIRST NEW PIVOT HIGH trade set up. Our little rule; First new PIVOT HIGH begets the first new HIGHER PIVOT LOW (HPL) . We BUY HPL's in an up trend. Study the chart in the manual and then study this chart from today 08/12/2010.
Deja Vu? Not really, these patterns appear all week long in the ES market. If you were in the MY TRADES ROOM and listened to Harry ... he called out the higher low pattern 10 minutes before it actually set up. I heard him say "First new HIGH begets the first new HIGHER PIVOT LOW .. get ready for a buy signal." When the trade set up the SONAR alarm went off. Unless you're asleep at the wheel, I don't know how you could have missed that trade. That's a pattern you must learn because that's a high probability trade set up.
Here's what the rest of the morning looked like
Are you starting to see some familiar patterns? What do you do on a HPL? READ THE MANUAL. You can do this! And ... if you need help, Harry's MTR calls in the morning and afternoon session bagged over 60 ticks for the day. This is real folks and if you do your homework ... and ... LEARN THE PATTERNS this can become your business.
Regards,
WDH
THE
COMMODITY FUTURES TRADING COMMISSION. ( C.F.T.C.) This brief statement does not
disclose all of the risks and other significant aspects of trading in futures
and options. In light of the risks, you should undertake such transactions only
if you understand the nature of the contracts ( and contractual relationships )
into which you are entering and the extent of your exposure to risk. Trading in
futures and options is not suitable for many members of the public. You should
carefully consider whether trading is appropriate for you in light of your
experience, objectives, financial resources and other relevant circumstances.
Some of the examples used are hypothetical. Hypothetical trading results have
many inherent limitations and may not reflect actual results since they are
done with the benefit of hindsight and do not accurately reflect market
conditions and the traders emotional level while under the stress of trading.
No representation is being made that any account will or is likely to achieve
profits or losses similar to those shown.
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