
This course will teach how to replace (or improve) your current income. The purpose is to get your life back from the 40 hour work week. We have many students that have significantly improved their lives by doing some up-front learning and practice. This is happening for many people.
The market runs on Fear and Greed. Your success depends on your ability to rein in your Fear and your Greed. Using a strategy and having tested it in simulator makes it easy to enjoy trading and be successful too.
The easiest way to lose all your money is to ignore Risk. Allen and Scott put Risk into perspective.
This is a quick refresher for people that knew (and forgot) Calls, Puts and Candlestick basics. The previous course (in this series) explains them in greater detail.
The software we use is Wall Street Genius suite. It has basic investing and also the Day Trading software (which is built by Day Traders for Day Traders). Quick tour to launch the Replay and Live versions.
Everything has limits. A rational yield is better than long-shots that mostly fail. We will look at examples where 10% is achievable on a daily basis. Your inner-engineer will love this (without being overwhelmed).
Until we see something, it's often hard to believe its true. Here you can see that 10% is possible. Snapshot from a lazy market where more than 10% is available. This shows that profits are possible.
There is a work-flow for success here. Start with learning the principles, then put them into action (with practice environment). After that, it's time to get the benefit of knowledge AFTER the practice has proven to be successful.
Get ready to practice! Allen shows you how to use the replay function as well as the 'Game' function whereby the software randomly picks a day, doesn't tell you which day it is so you can practice trades without any knowledge of how the day went.
Scott and Allen share what the three screens mean in the software. These panels show up when you start up Waves of Profit.
The Wall Street Genius 'Short List' selects the most likely stocks and options to watch and possibly trade.
Turn learning into a game by using the "Buy/Sell" feature to make 'paper' trades (meaning you don't lose money if you are wrong) and become more confident and competant quicker.
Indicators give us a perspective. Let computers do the work of making a determination from a useful perspective. Is the stock Trending? Is the Market flat? Will the stock reach a "bounce" point soon, or is there room for it to keep moving in a trend? Good indicators help answer these important questions. And computers are great for painting those perspective for us.
The markets are driven by the beliefs of people. There are places they want to buy and sell. Previous Tops and Bottoms are clues on previous buying and selling points in the market (for that stock). These are helpful.
Y-Point indicator is much faster than normal Support and Resistance markers. When you get a Y-Point marker, should consider exiting a trade soon. A previous Y-Point marks a support or resistance price.
Large (profitable) moves often start and end with a volume spike. The Volume Genius indicator figures out what a relative "spike" is and draws it on screen. Volume isnt a guarantee of a good move, but it's another good marker for good moves.
The previous days, and the morning range, give us support and resistance prices. We're looking for a breakout of those previously defined ranges.
K-Band Signal and the Signal System give alerts for a potential trend. They need other "confirming" indicators. Combining indicators means we have a higher probability of profit.
"Moving Average Genius" (MAG) Line is right about 90% of the time. Never fight the MAG line.
A "junk filter" is very helpful. Also, knowing which stocks to watch for good moves later in the day is helpful for people that want more than one trade, or can only trade in the later part of the day. This indicator gives us both insights.
Target Prices gives us a useful guide on where the stock movement might stall (ahead of getting there). It's based on a well-established set of formulas that have been used for decades by floor-traders (professionals).
Using different time frames to get better perspective for opportunities and good entry confirmation.
To make bigger profits, use the strong market days to help you easily get there. The power of the market can drive all the stocks in the same direction. The Basket and Minute Log are shown here. The easiest trading days of the month are shown here.
You don't go skiing in August in Whistler. You don't go swimming in New York in February. There are good times and poor times to trade Options. How do you know if today is a good day or a poor day?
Trading times that are best for making money. There are times that are very fast, slow and everything in between. Here you get a feel the the market and know the trading times that will suit your goals.
Trading Rules are short videos about a single topic.
Need to use multiple indicators to have confirmation for a good trade opportunity.
The MAG line confirms which side to be on. It marks an Exit that's almost always better than hanging-on, hoping.
One of the oldest rules for trading. And it generally works.
Candles (by themselves) can tell us the direction of a stocks prices. Want consistency in their colors for the start of a trend. The end of a trend can be 2 opposing candles.
The typical trader that follows the rules is right about 85% of the time. Some students are making profitable trades 100% of the time. What's the success-making difference?
Trends dont last forever. Need to get in on the early portion of a good trend.
If the stock has moved well already, don't chase it. It might be done for the day, or for the next while at least.
The strength of the market can carry you to great profits. Learn to watch it and ride it.
Time of Day, the timeframes (charts), and acting in a timely manner are the topics here. This is a review and brings the time factors together.
The rules are very helpful. There are rare times when a trade looks good, fits the rules, but isn't good. Leave with a tiny loss and learn from it. Typically the trade didn't work out because we missed one of the rules. Usually we only make that mistake once.
This section is optional. Please focus on mindset, strategy, and the fewest things you need to get to 10%. Come back and learn more when you're good with the bread+butter trades. There are a more details here than you need.
We look at different styles of lists. People usually pick one format they like best. This is an overview of the ones available. We'll focus on the Short List for most videos.
There are many charts available. We only need to use a couple. The other charts are available for the serious explorers that want to personalize their trading.
There are charts that track along with your current stock, and others that stay pegged on a specific stock.
The toolbar can get you to other features easily. The Settings can change the indicators shown, and how they are presented (colors, line thickness). You can save your settings and load the factory settings too.
It improves our success when we know the stocks in our basket are moving together. When the herd moves in unified manner it means we shouldn't fight the basket direction by going with a contrary "rogue" stock. When the basket isn't unified in it's directional movement (stocks are moving in different directions) it's okay to go with a rogue stock. This lecture shows you an easy tool and how to use it.
Alerts audio "Look at IBM", Moving Alerts, mini charts as a floating candle, dancing mini charts, motion map, minute log.
Sometimes a window isn't visible because of a change with monitors, or just cant see it. This quick video shows all the ways to find the missing forms.
IMDBOSS reminds us of the necessary elements for an entry.
One strategy to begin with. Focus on one until you are successful with it.
Other strategies are variations (adjustments to the indicator combinations) of this strategy.
To get paid, we need to leave the trade. Here you see the best exit styles.
10% happens every day. We have a great chance of finding these trades. During the right trading times, the 10% target can be met in under 10 minutes. At other times (afternoon) it can take longer to reach that goal.
A few people that are free. Ben (not an Engineer anymore). Tom (Surfer - living on his own), Steven (regularly makes GOOD money in markets). They treat it like a simple business. They have the choice to keep the job they like or spend their day with a sports passion.
We look at a random-selected day in the past 5 years where you can follow along (with the Replay program) and see strategies that work. A good strategy should work for many years. We test it.
We look at another randomly-selected day for Puts. The morning trade is faster than the afternoon. Sometimes we can make two trades on the same stock. Usually we make one trade per day period.
One stock that could be a "worst case" of looking good but failing. A review of the rules and how they work together very well. If you get a bad trade, have a look at it later to see what you missed.
Show trades from front to end.
Looking at multiple trade opportunities for June 4, 2015 trading day.
Looking at how the big indexes are useful and can be traded. June 5, 2015 has multiple opportunities.
Example of following the market "basket" direction. Example of a gap strategy working and how Risk Zone helps you.
Also how personality can affect the trading choice you make. And we should pick trading style that matches our temperment.
A poor market day and showing that short trades are available but not recommended. The often indicators tell you that the trade will be a shorter one (not a long run). This helps us decide if we want the trade. Lower profit and higher risk are generally known and gives us the choice to stay out or take the short trade.
The afternoon tends to be slower and less active than the early morning trades. That does not mean there are no good trades to be had. Scott and Allen talk afternoon delights in this lecture!
Final thoughts and where to get continuing support.
We would like you in our circle if you're friendly... :)
Keep learning about Options and how you can use them to achieve your financial goals.
Can you make 10% in ten minutes trading stock options with Chart Pattern Trading? No one but you knows the answer to that question.
What we do promise is that you will learn the tools in this course to make make 10% in ten minutes on a regular basis. Those tools include how to use our exclusive Waves of Profits software, how to control Fear and Greed, journaling, and identifying patterns of success. This course builds on our first Stock Options Trading course, "Stock Options Trading - Make Money & Income From Day Trading".
If you are very new to day trading, options or the stock market, we strongly recommend you shortcut your learning curve by building a strong foundation for success.
If you are an experienced Day Trader, the tools you will learn in this course will take your success rates through the roof.
The most important part of trading is protecting your capital and that comes from managing risk. What can you do to minimize your exposure to capital losses?
One thing you can do is to make sure you are not gambling. Day trading is not investing. You don't buy a stock and hold on to it for a year. You buy a Call or a Put, and sell it ten or fifteen minutes later.
And if you follow the right rules and use our exclusive tools, you will find with practice, trading options becomes easier and more profitable the more you do it.
We have back tested our theories over 50+ years of stock data. We have refined our theories and rules with a small group of diligent 'beta-testers'. We have grown our own accounts.
But what we do isn't as important to us as what our students have done and their successes, nor it is as important to us as how you can do.
In this course, you will learn:
There's no better time than the present to make money trading options. Start today and find out what successful traders know to make 10% in ten minutes with Stock Options and Chart Pattern Trading!