Price Bar Reversal Patterns Video Series

Here is a video series of Price Bar Reversal Patterns by Lance Beggs, who specializes in short time frame discretionary trading through price action methodologies.

He has done an amazing job in explaining all the Reversal trading patterns.

You can enjoy his articles at http://www.YourTradingCoach.com and his blog posts at http://www.YourTradingCoach.blogspot.com

Candle stick Pattern Analysis: Complete Video Series

Here is a video series of Candle Stick Analysis by Lance Beggs, who specialises in short timeframe discretionary trading through price action methodologies.

He has done an amazing job in explaining all the candlestick trading patterns.

You can enjoy his articles at http://www.YourTradingCoach.com and his blog posts at http://www.YourTradingCoach.blogspot.com

Stock Pick Analysis: CAR

Hello  Traders,

Let us look at a losing trade I have made.

It is losing money, but i have no regrets and no worries, because I have my risk under control. I have put stop loss sell orders and I know the maximum amount of money I will lose.
So, I can sleep at night without any worries.

I purchased the stock at 32.62. The reason was that:

1. The stock was going up in a smooth manner.
2. The DreamTai Stock Trading Software had a Power Ranking of more than 3, which showed that there was high buying volume.


So, I purchased it. But within the next few days, the stock turned downwards.


It is moving down in a triangular wedge pattern. It has support at 26.5 area, so I expect it to bounce from there.
It has previously bounced more than 6 times from that area.

If this stock goes below this area of Support, I will get out of this stock and focus on other stocks.

That's life and that's trading..we win some. we lose some..As long as we  control our risks, we will win in the long run.

Sanjoy

Stock pick analysis: LGF

Hi Traders,

Let us focus on this stock  LGF

It is a stock with a lovely trend.
Notice how it is moving up smoothly.

Reasons for purchasing:

1. It formed a triangular wedge formation.

2. The DreamTai Stock Trading Software Power Ranking was greater than three, which implies that there was a large buying volume.


I purchased 50 shares  at 28.44
The stock is still moving up smoothly.

It is a beautiful trade.  I wish all my trades were like this. :-)

Stock pick analysis: RM

Hi traders,

Let us focus on this trade:

Reasons for buying:

1. This stock RM was in a wedge shape triangular formation.

2. The DreamTai Stock Trading Software Power Ranking was greater than 3, which means that there was very high buying volume.

I purchased 120 shares of RM  at 25.49.
The stock went up to around 27 and faced resistance.
So, it went in a sideward trend.
Notice that the resistance area of 27 turned into support area later on.

After resting at this support area, the stock has again resumed its upwards journey.

The stock may face  resistance at the prior peak at 31-32 area.

As long as the stock is going upwards, there is no reason to sell.

Trade Analysis: APFC

Hi traders,

In this post, I wanted to share some of my trades along with a commentary on why I had traded these stocks.

I will focus on one of the trades I made: APFC.

Reasons for entering the trade:

Here are the reasons that I had entered the stock.

1. If you look at the chart, the stock is in a steady uptrend.
This is a very good sign. It means that the stock is being accumulated by the big boys- hedge funds, banks, financial institutions.

Note that it retraced for some days, a few times, but went back up immediately. This shows that it is a strong stock.

2. At the time of purchase, DreamTai trading software was showing that this stock had power ranking greater than 3, which implies that there was strong buying volume.

 3. The stock broke out of a triangular wedge formation.

4. The stock broke out of 30, which is a round number. Usually round number offer resistance and stocks bounce down from the round numbers.
You notice that there was a confluence of two factors: A triangular wedge and the round number, both of which could push the stock down.
But the stock was so powerful that it pushed through both these and bounced up.

I bought 60 shares at $29.60 for this stock account.

Trade Management:

I  have put a stop loss sell order for half of the position at $44.
And moving the stop order for the other half to breakeven..that is $29.60.

Why did I take $44? Because that is around 32.8% Fibonacci retracement from the bottom to peak.

What's next?

Who knows?.But  as traders, we have to be prepared for anything.

Don't be in a hurry to sell and take profits. Let the stock take its own time to go up.

Hope this posting is helpful.

Sanjoy

Live Trades charts - Part 2 (contd.)

Here is an update of the recent trades I have done. These trades are in Commodities/Futures market.
But, it does not matter if you are trading commodities or stocks or forex, as long as you trade with the trend and read the tape correctly and follow the laws of money management and risk control.

In short, follow your system faithfully without getting emotional.





The main aim of this post is to show the price pattern and the thought behind each trade.


1. LIVE CATTLE





Previously, i had shorted it at 103 and was stopped out at 106.
The reason I had shorted was that the trend was down.

After being stopped out, the prices went on higher.

I waited for the price to pause and retrace so that I can enter on the long side.
Why? Because now the market is trending up. All the three moving averages are sloping upwards.
I bought the contract at 113.
Currently, we have $200 profit.

Let us see how this trade goes.




2. E-MINI S&P





I had shorted two contracts at 1296 because the trend was going down and the price went below the support level. Also, the price went below the 1300 level which was a "round number". Any prices which end in "00" are major crossing points. Example: Dow 10,000


I purchased one contract at around 1276 for a profit of $1000.

I am now letting the profits run for the second contract. As of now, it has $1637 gain.

Two things:
Trend is our friend
Let our profits run.



3. WHEAT





I had shorted at 808.75 because the overall trend was down.

As of now, we have a gain of $7,387.
But, we have to let the profits run.

It is natural for us to to feel tempted to take profits.
We should not worry about the profits while we are in a trade. Why? Because it clouds the judgement. Rather, we should worry about our risk and check if every act we do is according to our trading plan.


4. SILVER





I had shorted silver at 35.19 because the trend was down.
It tried to go up again, but it failed miserably. It could not even cross the previous high.
Also, it crossed below the support level (shown by the red horizontal line) and also below the 35 "round number".


Currently, we have $1600 gain.
We will follow the trend and let the profits run.



5. SOYABEAN





I had shorted two contracts at 1336.
Why? Because the trend was down and also the price went below the "round number" of 1350.

I covered back one contract at around 1316 for profit of $1000.

I am letting the profits run for the second contract.
Currently, we have a realised profit of $1000 and a running profit of $1287

Let us wait and let the profits run.


6. CORN





I took a new position.
The chart of Corn was looking bearish and so i shorted it at 653.50.
Why? It was making lower lows.It went below the 700 "round number".

Currently, we have a loss of $175.
No need to worry. As long as the loss is below 2 percent of our total capital, we do not have to worry.
Just put a stop loss trade and RELAX and wait for the trade to work out or get stopped out!

Secrets of the Trading System by Market Master Ed Seykota

Here are the secrets of the Trading System by Market Master Ed Seykota.




Click link here for details at Michael Covel.com website

http://www.michaelcovel.com/2011/06/22/larry-hite-ed-seykota-michael-covel-panel/

Five Live Trades using Price Action

In this post, I will show you 5 live trades, out of which, 4 are profitable till now, while one trade got stopped out.

Rather than using any trading system software, the trading decisions were made using the price action.
I have added comments on the charts showing my thought processes.
Please feel free to ask questions.

It does not matter whether you are trading stocks or commodities. The basic price action principles remain the same. Once you learn to "read the tape", you can trade confidently in any market.

What will happen to these trades? Will they end up profitable or will they end up in losses? Who knows and who cares! That is because I have already placed stop orders to get out of the positions in case the market moves against me.

Also, the risk per position is less than 1 percent of total account size. So, i am not worried.



Here is the portion of my futures broker's Account statement listing the 4 active trades. One trade was stopped out and is not shown here.




WHEAT TRADE:

The prices were acting bearish. The bulls tried to make the price go up again and again, but they could not breach the 900 levels.




SILVER TRADE:




LIVE CATTLE TRADE:

I was stopped out of this trade.





E-MINI S&P TRADE:





SOYABEANS TRADE:

DreamTai upcoming releases + new DreamTai FaceBook Page

Hi,

I am still working on DreamTai 5.02.15 Beta 2.
I had released 5.02.15 Beta 1 and got many useful comments and suggestions from the users all around the world.

Thank you very much for all your suggestions.
I will add them in stages release by release.


Beta 2 will have nicer looking charts.
Attached is a screenshot of the next version.
It is almost 80 percent complete.





Beta 3 (not yet started) will have multiple time frame charts, like daily, weekly, monthly.

Also in the works are the following features to be added:
[A] Ability to save settings like:

1. Risk Factor (currently defaulting to 2 percent of initial capital)
2. Chart Lines\Drawings
3. Chart Colors
4. Chart Type...bar chart, line chart, daily, weekly, monthly


[B] Rule based scanning..That is, scan the portfolio for stocks which fit a particular criteria.



Also, now DreamTai has a FaceBook page.

Go to http://www.facebook.com/pages/DreamTai-Com-Inc/214601045236928 to go to DreamTai FaceBook page, or just search for DreamTai on Facebook.

Please do join the DreamTai FaceBook page and give suggestions for features you like in Future releases.