Registration for Members:
Registration is required each week and the link is posted by Sunday night each week. Log in and then go to your members page. There you will find a link to the registration page. Be sure to remember your link and password to get in to the room each day of the week.
We strongly recommend you review this page before signing up so you are familiar with some of the basics of our techniques. If you are not a member, the Oil Trading Room goes way beyond what can be seen from the outside with daily Statistical Analysis, Market Commentary, Over 100 trading related blog posts, Advanced Trading Techniques and more! Below, see some of the basic rules we trade from. We hope to see you in the room!
The room rules and techniques are simple yet elegant and we focus on teaching how to trade and fostering independence and advanced learning. Below you will find the basics of what you need to know to learn and trade successfully in the Oil Trading Room (OTR). After signing up, you will go on to advanced learning with all the room resources mentioned above and more..
Rule #1 is Know the Rules and ask questions if you need clarification. We are happy to help!
Current Daily Room Schedule:
The room operates on days where there is a pit / open outcry session and is closed on holidays.
8:45 ET Get Access to the room and sound check
8:55 ET Commence commentary on overnight action followed by chat driven room.
Last 1-1.5 hours chat driven analysis and statistics.
*The room may open earlier, but lectures and commentary begin at the scheduled time.
*Rob is is usually in the room the first couple hours each day. It is best to be in the room for commentary for maximum advantage.
*The room operates in the Pacific Time zone but the above times are Eastern
The OTR is a trading room. Our focus is on education and on trading. If you want to learn trading in any market the OTR can help you to learn faster and with statistically valid methods. We teach trading from the perspective of knowing the probabilities associated with various market situations throughout the trading day. These methods are applicable to other markets, but crude oil is the best opportunity so this is where we trade.
Be sure to ask any trading and techniques related questions in the room (the mornings during lecture times is best). This is beneficial for both you as a member and other members, but it also invites more experienced members to chime in and offer their insights on the topic. Many OTR blog articles are the result of these room introduced topics and discussions.
Trading Terms and Concepts:
The Trading room charts are based on the Smart Patterns Trading System from IndicatorSmart.com
1) Trade with the trend (see #4).
2) We use Mega /SmartRenko Bars. The brick portion of the bars are 5 ticks and a reversal bar is 10 ticks.
3) Use our Shark Indicators Bloodhound template with Mega /SmartRenko Bars. The color changes on the template can trigger you in to trades especially if you do it with room rules and support and the larger context (see member blog articles for more advanced methods and other advanced topics).
4) We Use the Smart Trend Chart for Trend (on the bottom left in the room). If the bars are light blue, the trend is up. If red the trend is down. It is preferred to take trades with trend with the market cycling. See your member page for links on training for this.
5) Cycle: A sequence of higher highs and lows = up cycle / trend. A sequence of lower lows and highs = down cycle / trend. In general, an up cycle is bullish and a down cycle is bearish.
6) Zones: We generally want to trade into an open zone. This is interpreted on a 30 min zone chart with the SmartZones tool. Also on the zone chart you will see an EMA. Many significant moves come off this line and so it is provided as an additional guideline. Some excellent traders only take trades on the side of the EMA on the 60 min chart. Longs above, shorts below due to the above observation. This chart also has trend indication by color that is an excellent system.
7) Support Resistance: We are generally aware of SR levels and keep a chart for this purpose using the SmartSupportResistance tool on a 30 minute chart. As a general rule, we do not fire trades into immediate and commonly known support or resistance areas. Click Here for a legend of the Support Resistance chart.
8) Profile Charts: Use the profile charts provided to identify context then use the room triggers to enter the trade. For example, we may consider single print areas (areas that the market went through easily) as open zones. We have profile experts in the room. Take advantage and learn from it.
9) E2: A trading pattern we use for low risk entry
Note: Many of the trading concepts we use are extremely simple and are easy to know once you learn a bit of room lingo (room glossary of terms is available for members on the site). There are also advanced discussions on the blog for members and non members.
a) Trade an encompassing bar with trend. This is called Early Entry. This technique is best with certain volume patterns taught in the room and on the blog.
b) Use the Shark Indicators BloodHound Template background color changes to trigger in to trades (also called B-Charts in screenshots of chart history).
d) If the market is cycling according to #5 above it is a more premium trade. Situations in this class can also be an excellent trade opportunity, particularly in a quieter market. In this case, you are using the cycling as a trend indicator. In fact, you can use cycling alone as a trend indicator as taught in the training materials.
e) If there is a type 2 divergence on the Smart Momentum tool and/or the Trapped Trader Oscillator, it is a more premium trade.
f) For basic risk management we use SmartSuperTrend (SST). This tool will trail the stop. Generally speaking, if the SST does not trail, the market is not decisive in its movement and it is a warning that you potentially are in a drifty market. And, you really would prefer to be in markets that are moving.
g) When using an early entry technique, it is often preferred to scalp out a portion of the position early on. The system very often can get good movement on these types of entries and this is why it is done. Some room members report taking the first target at as much as 20 ticks.
h) Use the E2 entry pattern (and other advanced entry techniques). These techniques are written about on members blog pages and are remarkable techniques for low risk entry.
i) there are many research projects in the room and many members know probabilities on various situations during the trading day. For an example of some of these techniques watch the important Trading Webinars by clicking here.
Stop sizes will run from 4-16 ticks or so on average depending also on whether you use Early Entry, color changes, E2s or ME2s etc. You can choose the level of risk (or which trades) you will take on using the methods I will teach you. So, if you like small stops, you can do that. If you don't mind bigger ones, you can do that too. There are member blog articles for members covering specific statistics on stop sizes. Further there are spreadsheets for testing the result of various stop sizes on the members blog.
Knowing the Tools:
It is recommended you familiarize yourself with the trading tools we use in the room. Watch all the videos in the Oil Trading Room category here: http://indicatorsmart.com/product-category/oil-trading-room-tools/
Be sure to read the articles on the Blog to learn from contributors and the moderator alike. Become a contributor yourself! You'd be amazed how much you learn writing an article. http://oiltradingroom.com/blog/
Subscribe to the YouTubeChannel to benefit even more: https://www.youtube.com/channel/indicatorsmart
Subscribe to the twitter feed to benefit even more. We may also use or switch to chat on the twitter feed if the room is having technical issue so, it is good for you to monitor this feed: https://twitter.com/MarketTraderRob
Connect with me on other platforms - Social Feeds
Etiquette and Rules for Chat:
The room is a free and open forum giving a sense of community and sense of a common goal for all involved. In order to accomplish this certain extremely basic room rules are required (though self evident) as follows:
1) All room chat activities will be limited to the current trade situation applicable to our method and intent- this means unrelated chatting is not part of the room.
2) All participants will be treated with the utmost respect. This starts with you (respect yourself) and extends to all others. We want to create an environment that is happy, positive and nurturing for those learning and advancing their skills as traders. Foul language is not part of the room. Making self defamatory statements is not part of the room. If you have something that you want to say that is negative, then figure out a way to state it in the positive for the room (you may find the exercise of "positivizing" your thoughts to be beneficial in time if you do not already do it 🙂
3) The room should be self enforcing. Room participants should help to enforce a non-chatty environment consistent with 1& 2 above. If a participant is not playing by the rules, and it is excessive after appropriate warning from the group, please notify admin privately. If a participant is not being appropriate to the room's intent, simply tell that participant to review these rules for the chat.
4) A participant can be banned from chat at any time and for any interval and, the rules can be changed at any time without notice as may be needed. Thanks for working together to create a sense of community, advancement, fun and prosperity!
5) Non-Room Trades. If you announce a trade you are doing in chat and it is not based on room rules, please include the designation "NRT" with it so room members may distinguish it from room trades and discussions.
Note: Charts are in Pacific time but we may broadcast live from other time zones at various times.
Note: All Indicators we use are available through http://IndicatorSmart.com
Note: The Oil Trading Room is for educational purposes only. Your trading is your decision. By participating in the room you agree to this. In general successful trading is approached structurally, patiently and with a rational mind. If a trade is deemed worthy of discussion and we are otherwise not involved in something with our main market and I see it, I may show it for educational purposes even if that chart is not entirely relevant to the Oil Trading Room primary activities. The general principles of this room are applicable to trading on all kinds of charts and time-frames etc.
Note: The room is for individual traders trading their own account.
It is not for licensed professionals and prop firm traders etc. Be sure to read the terms and conditions for the site as you are responsible for using it in the manner described there.
Note: I may periodically survey student performance and experience and reserve the right to anonymously use that information. The true measure of the room is what YOU get out of it so Please participate.
Note: Shark Indicators Raven and/or Bloodhound is often used on the main chart and can sometimes be used to aid in entry using the rules above. Be aware that this tool may not accurately show history in the way we use it. Also be aware that what that the tool is showing is not necessarily consistent with our trading rules. This product is available through IndicatorSmart.com
Note: Successful trading is often about getting caught in big trades. A strategy where this is your main intent AND where you are managing a number of smaller trades of small losses and gains is a very good sign you are on the right track. To learn more about this principal, study the content at the following resources: http://markettradersjournal.com/?s=footprint&searchsubmit=
Note: The room is designed so you can trade flexibly and in such a way that you may trade more or less. It is up to you largely. I will generally be available in the room to help with these topics for the first couple hours each day.
Note: Sometimes the market will be changing trend on the open. It is important to be aware of reversals at the open but often you just cannot. Watch for both cycling and trend to match earlier in the day or until there are 15-20 bars generated.
Note: Rules are a general guideline. It is important to protect your capital. This is your job.
Note: There are some counter-trend opportunities but they should be done with tight risk parameters and should only be done by experienced traders.
Note: Rules may be modified at any time for clarification or improvement.