Now that we know stuff surrounding what the trading logistics are it’s time to get to the meaty part.
The Indicators and Patterns!
These are all that you will ever need.
My mentor said to me, ‘Our job as traders
Once you can read these patterns on your charts, you’re more than halfway there.
I believe in simplicity.
The market movement alone can tell us a lot about what is happening. When I see traders with tons of charts and blinking lights and graphs moving all over the place it literally makes my head spin and does nothing but put me into a state of complete indecision, analysis paralysis, and WTF is going on!
It sooooo doesn’t have to be like that. I personally trade with two distinct indicators and three charts that are different time frames. But when I travel I can do it all off of one chart.
I also only trade the ES mini Futures which is only one instrument. If you trade more than one, which is common for stock traders they trade several if not dozens of different stocks at a time, each having to have it’s own chart, then you too will need to have a lot of charts and screens.
But at the end of the day, it’s price movement and the patterns that I will teach you – they will be your biggest tellers.
As you start to understand the market more and more then you can see what works best for you as in adding on indicators and charts.
But for now, let’s focus on what we have set up with our own charts.
Most of the boot camp will be done via charts.
We will take each important element and dissect it so you fully understand what it does and how to read it.
So go back to your chart tutorials here, make sure they are all set up.
I am going to be doing everything via my charts which is NinjaTrader, but you can do the same from Thinkorswim, or any of the charting systems out there.
The platforms mentioned above have free demo set ups, the other charting platforms usually are monthly memberships.
I will be talking about universal indicators that all major chart platforms have for free.
And, the best charts, are usually attached to your brokerage. So you don’t have to get off your chart – WHEN YOU START LIVE TRADING – to put in your orders. Those several seconds can bring a green light to a red light with a trade. So it’s always better to have a platform that is connected to a broker.
NOTE – what I am going to be teaching is universal market movement. This can be done with any market, on any platform.
The most important part is to read the charts.
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