While it is always important to balance successful trading by knowing that past performance does not guarantee you can do something in the future, we continue to see these (following) patterns over and over in the room.
Today one of our users asked me for some charts with the setups I use in the room. So, I decided to bring them to your attention for potential future benefit here! As I looked at the charts I was just amazed at the potential in the trades. Though I did not benefit from the full potential of these trades we actually had room members who did! Kudos to one trader in the room today closing out a single trade for 100 ticks!
I trade several basic patterns in the room that the room discusses on an ongoing basis. There can also be overlap with these methods and they can trigger in proximity to one another:
1) Divergence Trend continuation patterns with HV room triggers.
2) E2 continuation patterns (encompassing patterns with immediate trend. Members can see my recent article on this great pattern.
In the room, we call the first pattern a type 2 trend continuation pattern or "type 2" for short. These are trend trades. Here is the chart from today with these setups:
The second of these patterns is the E2 pattern, this set up can trade both with and against the bigger trend, but always trades with the immediate trend. Here is a chart from today:
Part of the beauty of the Oil Trading Room is members can trade in a way that is suitable to what they like to trade. For example the Rail Road Track pattern (see the blog articles on that for details). Some members looks for setups with other methods and use room trade triggers both off the B charts and the High Volume Trade set-ups. One member is even developing a course for members on his method / approach (this is the member that closed a 100 tick single trade today).
Members in the room develop methods and share them with everyone else and the level of learning going on is nothing short of remarkable. I am so glad we started this room and I am glad to see the excellent environment for sharing that is happening in the room!
Join the Room and participate in the forum of advanced trading. You will learn tons in time and it may just be the single best small investment you could possibly make in advancing your skill as a trader. See you in the room!
That's all for now.