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Greetings.
Well, it's been another WILD week in the markets. For traders, volatility is FANTASTIC!! In this type of environment trading is FUN. Provided you know what you are doing!
The Kwik*POP indicators and the JS Services Lines are tools designed to help you
KNOW WHAT TO DO!
This TOP DOWN/BOTTOM UP approach to technical analysis gives you a clean image of the playing field addressing the critical price markers. TOP DOWN provides a Strategic Theme with a probability price map based upon the market state and strategic state within the bounds of the playing field.
BOTTOM UP momentum analysis provides the short term (intra-day) confirmation and timing mechanism needed to execute high probability trade entries within the boundaries of the playing field (Top Down Overview of the playing field).
Short term (intra-day) momentum shifts provide highly visual, objective confirmation markers, or stair-step patterns that allow us to easily determine when the herd is selling down to critical support levels or rallying up to test critical resistance boundaries.
This video has been sent out before, but a review is always important as we all tend to forget things we've studied in the past. A refresher course helps us regain/remember things that can help us out in certain situations.
PLEASE WATCH THIS VIDEO ON THE LONE WOLF PATTERNS. Trust me, it will help you with some trade setups we are likely to see this week.
Here is the link:
http://www.anymeeting.com/WebConference/RecordingDefault.aspx?c_psrid=E950DB82834D
There is a process involved in becoming successful as a trader. The first step is screen time and homework.
HOMEWORK ASSIGNMENTS
1) Create a TRADING DIARY
2) Review all trades taken and note your considerations for the trade and your emotional state, be honest with yourself. If you were nervous .. state that in your diary.
3) Print out charts for every trade you take. Mark the date and time of the trade. Note your comments on the trade in your diary. Again, be honest with yourself on the logic of the trade.
4) Review all trade set ups you can identify for each day. Note why you took the trade or passed on the trade.
5) If you passed on a trade set up and the trade worked, make notes on conditions present that supported the trade and mark that in your diary.
6) If you took a trade that didn't work, examine conditions present and look for warning signs that would keep you out of a similar trade set up and mark that in your diary.
7) Review the KP training manual, videos and PDF's and all JS Services video's and training materials. Review the daily PLAYBOOK. Look at the charts. Determine when the BULLS had possession and when the BEARS had possession.
8) When you screwed up on a trade, getting out early, stop too close etc., make notes on why you screwed up. When you succeeded on a trade make a note on what was right about your procedure and trade management.
9) Constantly review the charts you print out along with your trading diary and attend our training sessions every Monday, Tuesday and Wednesday.
10) Place the JS Services lines on our 7,500 volume template of the ES and print out the entire days price action every evening. After dinner, in a quiet time, study the chart carefully looking for patterns you've seen before. Reflect on the Strategic Overview, Price Map and Playbook and then focus on momentum timing signals.
If you are serious about trading for a living then you must commit time every week to reviewing training material, learning new techniques, examining your trading decisions and trade results and updating your trading diary. Trading is a business and you are the CEO of that enterprise. Your big year-end bonus is contingent upon your ability to improve the bottom line quarter after quarter.
There are no accounting gimmicks in this business. You either win or you lose. This is truly the last bastion of the free enterprise system and anybody can go from rags to riches if they are willing to make the effort.
Those that succeed are totally committed to success and are willing to spend time and effort on becoming the best they can be. Those that fail treat this arena like a gambling parlor, a day at the race track or a part time hobby. Understand your motives for trading and be aware that Mr. Market takes no prisoners. Knowledge and experience give you the strength to succeed. The weak and foolish are quickly butchered every day in these markets.
If you want to trade like a pro then think and act like a pro.
DO THE HOMEWORK.
If you want to be the CEO of a successful business enterprise then think and act like a successful CEO.
DO THE HOMEWORK.
Trading is a business and those that are totally committed to success in this business, and are willing to put in the time and effort to become successful ...USUALLY SUCCEED!
DO THE HOMEWORK.
We provide the tools and the training. That takes you from point A to point B. Going from point B to point C and further is up to you. Are you serious about trading?
DO THE HOMEWORK.
Regards,
WDH
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