Tutorials

A stellar session! It covered some basic rules from days of yore so that they are more relevant to the rABC and mechanical setups that we've been using intensively. There are some subtleties here that are capable of taking your results up a couple of notches. We also looked at a very promising butterfly in QQQ that you will have time to execute if you watch this video soon enough. There are also some additional, timely trades to consider in DIA and December Silver. The short-term outlook for bullion is bearish, by the way, and it behooves you to understand why.

If you haven't been to any Wednesday sessions recently, this is an ideal lesson to help you get back up to speed. It begins with a bunch of mechanical set-ups, some good, some bad. Then we looked at some finely nuanced rABC opportunities with the goal of forcing a profitable trade. The final 15 minutes considers a closely reasoned rABC entry in Comex Gold. FYI, the second attempt produced a profit after the session ended.

The Hidden Pivot Method affords us a means of accurately predicting the end point of a rally or decline. Using these price targets in conjunction with certain types of option spreads, most particularly butterfly spreads, can provide considerable leverage. That's because butterflys targeted on distant strikes can return as much as $50 for each dollar wagered if the target is reached within the time frame estimated. This lesson is a primer for Pivoteers eager to take advantage of such opportunities.

When we trade rABC set-ups, the length of the A-B segment is crucial to profitability. This lesson delves deeply into rABCs with greater detail and clarity than ever before. If you are already proficient with the technique, there are some advanced ideas here that will be helpful, including creating 'artificial' A-B segments to perfectly match your appetite for risk and your confidence in a particular pattern.

Our trade set-ups are coming increasingly in areas of charts that I have labeled ‘discomfort zones’. This usually means working off price spikes into the middle of nowhere, so to speak. They are places where most other chartists and even the algos lose their bearings, since there are no visual points of reference to guide them. It remains for us to create our own reference points, much as early navigators sailed using celestial relationships. More on this in this one-hour lesson, plus the usual hunt for real-time trade set-ups.

Not every Wednesday tutorial session produces interesting or worthwhile results, this one being a prime example. If there is any benefit in listening to this recording, it will come from experiencing in real time an unavoidable fact of trading - i.e., that we all have a bad day now and then. The good news is that even the bad days needn't be painfully costly, since it's possible to control entry risk tightly regardless of whether our trading 'temperature' is hot, cool or lukewarm.

Nearly all trades begin with textbook impulse legs, and that means the charts we use must contain external highs and lows, the building blocks. Once you get this simple rule down, it becomes possible to trade small but technically perfect patterns on the lesser charts all day long. We did so toward the end of this session, taking a small instance of ‘ABC’ on the chart of QQQ to execute a trade that would have been worth $100. Easy. We also saw that the old-style ‘counterintuitive’ trade is best done ‘scientifically’, using rABC techniques we’ve learned since.