Week’s Review for the Oil Day Trading Room (week ending 9/12/2014)

Room members asked me to post the charts so they can help to identify patterns for the room but this post is not just for members. Take a good look at the trades on these charts (below) and leave your comments below.

A word form one of our members...
A word form one of our members...

If you are not benefiting from the room now, perhaps these charts will help you to see just how much of a huge opportunity our room provides for Continue reading

Mega Bars- Extraordinarily Smooth Price Bars

What exactly are the Mega Bars? Mega Bars are a type of price bar that is similar to a Renko bar. For the Oil Trading Room, we are using a bar brick range of 5 ticks.  So the bars are all 5 ticks tall and if you have a reversal, they are 10 ticks tall.  This makes computing things really easy because if you have 5 consecutive bars of the same color, it is 25 ticks. Mega Bars are entirely unique however and are unlike any other bar. The room is based on these bars because they are exceptional price bars for intraday trading.

The only place these bars are available is in the Oil Trading Room. Continue reading

Basic Room Rules and Learning Early Entry

We will be launching the room in the next few days.   Monday (Sept 1st) is a holiday so we will probably start on Tuesday or Wednesday.

For today, let's take a look at early entry- one of our entry techniques.  Early entry trades at the break of the previous bar range in the direction of the trend where the previous bar was in the opposing direction.  This is best said visually, so let's look at today's Mega Bars chart: Continue reading