Daytrading 101 – “A Successful Strategy”
A full afternoon of live training for novice traders.
Tuesday, October 23, 2012 beginning at 12:30 p.m. ET
Good Day -Over the summer I offered a course that I aptly referred to as a “boot camp”. It was a series of very intense sessions that focused heavily on technical analysis and the more intricate details of trading. For my long-term followers, it was the perfect fit, but for those of you who are just getting your feet wet, it was like jumping straight from high school to a PhD program! I had a number of requests from newer traders for something that helped pave the way between these two levels, building upon the core concepts I put forth in “Simple Steps to Trading Discipline”. This month, I’m offering you the opportunity to participate in a special afternoon session in which I will share with you one of my favorite strategies. Relying heavily on live market action, I’ll be showing you how I scan for my trades and take you through the complete execution of the trade from start to finish. One of the key characteristics of my trading methodology is the fact that you don’t have to have a strong background in technical analysis, nor do you have to integrate a number of complicated indicators into your trading system in order to succeed. This session will offer you a “no nonsense” approach to the markets that has withstood my nearly 15 years of online trading. The Strategy: Breakouts – Yes, BREAKOUTS! Read on! “Breakout Trading” has often gotten a bad rap on message boards and beyond for as long as I can remember, even though they are also perhaps the most widely covered strategies in books and on the web. It was even the strategy I chose to introduce in my book “Simple Steps to Trading Discipline” in the chapter titled “Building a Successful Strategy”. In one rather notorious thread on Elite Trader years ago, I took up the challenge to prove that in fact, breakouts are some of the easiest types of trades for a beginner to focus upon and I SPENT SEVERAL WEEKS TRADING NOTHING BUT BREAKOUTS! Even though the market shifted during that time, the returns I generated remained consistent. And they remain so to this day. The reality is that most traders simply do not know how to trade breakouts correctly. This is particularly true of novice traders. Breakout trading offers wide appeal because the key trait to watch for on a breakout is a period of congestion in the market or a particular security where prices have fallen into a sideways trading range. The idea is to catch the security as it breaks out of this range. Since this period of congestion occurs over time, it’s easier for newer traders to find potential breakout candidates and monitor their progress than it is to try to catch a reversal. Unfortunately, most novice traders fail. They easily fall into the traps that plague most “breakout traders” : false breakouts, rapid returns to entry price levels, and small returns compared to risk. I will be addressing ALL of these concerns and more, sharing with you how I avoid these common pitfalls and making it easy for you to do so as well with very concise rules for trading any breakout! The Curriculum: – The strategy (weighing pros and cons) – Entry and target placement – Risk management (position sizing, stops, and adjusting stops) – Common mistakes (and how to avoid them!) Unique bonus: Many strategies market educators focus on are geared to to suit only one market or one time frame. This class, however, will be drawing upon live and recent market action in stocks, futures, and forex markets and the material covered will transcend any of the markets you personally prefer to trade as well as any time frame. It is truly a universal trading strategy! YES! ENROLL ME!
DISCLAIMER: Trading in commodities and/or securities may not be suitable for all individuals. Consult your broker or other professional to determine your suitability. The discussions provided by Toni Hansen are for educational purposes only and should not be taken as a recommendation to buy or sell the referenced security. Past performance is not indicative of future results.
