Do you call the trades?
Yes. Tweets starting with “TRADE OPEN…” and “TRADE ORDER…” are the ones I enter myself. I give entry, stop and target levels. I cannot enter every trade setup myself because it would be impossible to have control on risk. Therefore, many members make their own trading decisions based on the charts and setups I provide.
How can I make the best use of your service?
I call the trades with stops and limit orders which most members follow. However, this service is not only about trade calls, it’s also educational. Best way to make the most out of it is to mimic the charts on your platforms and watch how prices react to the lines. Once you get familiar with the method, you may start making decisions on your own trade setups even when I’m not entering them myself.
Do the lines’ colors have codes?
No, but every color belongs to a different formation. I find double and triple supports to buy in an up trending market (vice versa for shorts) with these different colored formations. Trading double and triple supports and resistances increase the probability of a successful trade.
Which channels do you use for communication with members?
For the Futures Package, there is a private Twitter feed and a Telegram Channel. For the Stocks Package, there is only a private Twitter feed. While the Twitter feeds are used for charts, videos, setups and general commentary, Telegram Channel is only for trade calls. The pinned tweet shows the current positions on both Twitter feeds. NEVER enter a past trade if it has gone too far away from you because the risk of the trade would be too high if you use the same stop I have used.
Do you teach your method?
For serious traders who are willing to put the time and effort into learning it by heart, I run a mentoring program here. There is commentary in the daily videos every evening about the current state of the market (only Futures Package), how the channels and S/R lines are being formed and how they get confirmed as tradeable setups.
How do you take profit?
I mostly scale out of a position by closing partially so that if I get stopped it will still be a profitable trade or at least break even. The rest of the position runs to the target. I constantly monitor the existing positions and I may change my mind in a split second if I see a formation that goes against my positions.
How do you set stops?
When I see a single, double or ideally triple support, I put a buy entry there and stop would be usually a fraction below it.
When there is an obvious resistance and I can see the market is trying to break out, there will be a stop buy order to buy at a price higher than the current to take advantage of the rally following the break of that resistance.
What’s your typical expectancy, i.e. reward to risk ratio (R)?
Most of my trades aim for at least 4-5R so that for every trade that goes to target, I can take 4-5 losing trades to break even. This is not to make my win rate low. I have a very healthy 60-70% hit rate.
Do you use any indicators, moving averages, Elliott Wave counts, pivots and oscillators?
No. They are distractions. You don’t need any lagging instrument or the highly subjective EW method to be successful in trading. All those methods will keep you in losing positions longer than necessary and get you out of winners much more earlier than you should. Because, they will make you second guess your positions.
Do you make future projections for your trading to be successful?
No. You don’t need to guess/predict where a certain market will be at a certain moment in time to make gains. My trading method is based on setups. Buy supports and run them to the next resistance or end of the trend and vice versa for short positions.
What’s the frequency and duration of your trades?
I’m not a day trader. I’m a swing trader. I run trades overnight and over the weekends if I see them fit. Most trades take a 3-5 days. Some of them take 1-2 weeks. Rarely, I run positions for a few months.
How do you handle news triggered action?
95% of all news triggered action gets retraced fairly quickly but some news cause more volatility than others. When I have an open position on the affected market, I remove my stop and start monitoring the action carefully. Central banks announcements or Trump’s tweets may affect market more than others. Frankly, news triggered action is the worst thing for technical analysis but we have to live with those spikes.
Which broker and charting platform do you use?
Saxobank for both.