Show me the money! In a nutshell that’s the goal of futures trading: to make money. Charts track money. They peel away the rumors and the news reports, the CEO’s prognostications and your neighbor’s hot tip. They show us what master day trader Oliver Velez terms the footprints of money (ref. Tools and Tactics for the Master Day Trader by Oliver Velez and Greg Capra).
“Each specified period (that is, day, hour, 15 minutes, 5 minutes, 1 minute) is nothing more than a battle or mini skirmish between the only two groups of players in existence: the buyers and the sellers, better known as the Bulls and the Bears,” Velez explains.
Daily charts chronicle the battles in an ongoing war as first one side wins, then the other, until one side finally emerges victorious. Each bar on a chart represents a single battle in the never-ending war that is the market. Successful futures traders develop the ability to determine which side is winning. By aligning their actions with those of the winning side, they make money.
However, Velez cautions, “While one group can be winning the current battle (period), the other group can be dominating the war (the trend).”
The art of chart reading and the hallmark of a master trader is the ability to “consistently spot the moment just before one group takes control of the other,” Velez says. It is at that moment that fortunes can be made.
There are reliable indicators and chart patterns that can help you pinpoint the precise moment when the balance of power will shift. In my Futures Trading Secrets Study Course I teach you how to spot and trade high profit chart patterns, how to interpret price action and predict the next bar. In a series of video tutorials on two CD ROMs, I show you everything you need to know to trade with actual trade signals explained in real time and with signal-by-signal analysis! Of the people who buy my system, 87% report dramatic increases in profitability (click the link to read what our students have to say).
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