Monday, May 13, 2013

No Trader Left Behind - Session 5 (April 8, 2013) Attendee Comments The emphasis on using camo. signal generated very soon after pivot turn was helpful to me. The reminder that the more reliable pivots points are generated by ABC patterns that have sharp "stick up" bars was good. Finally, I was reminded that impulse legs that fit definition of surpassing 1 int, 1 ext, but not the obvious one, are the subtler ones what we want to use to camo. trade from. Good session for me Thanks Rick David F. ____________________________________________________________________

No Trader Left Behind - Session 4 (April 5, 2013) ____________________________________________________________________

No Trader Left Behind - Session 3 (April 4, 2013) Attendee Comments Patrick M. (Session 3 – Wed April 3, 11 p.m.): Hi Rick, Thanks again for the No Trader Left Behind webinar on Thursday. Here are some points that I took away: 1. Use camouflage to keep stop losses small. 2. Look for a smaller pattern to form around x of a bigger pattern and use that to enter the trade at x of the smaller pattern. 3. Alternatively, look for a pattern in the opposite direction to form once the D of a larger pattern has been reached. 4. The price action at p, or "midpoint effect" can be used to confirm the likelihood of a reversal at D should D be reached. 5. Failed camouflage trades indicate strength in the opposite direction. 6. Beware of strong, noticeable impulse legs. Look for rallies that do not look like rallies ("What are you waiting for" trades). 7. Always look for single bar C's. This indicates that not many people caught the turn at C. 8. Look for patterns with short A-B legs that meet all the rules. 9. Watch the Wednesday tutorials! ____________________________________________________________________

No Trader Left Behind - Session 2 (April 1, 2013) Rick Comments E-Mini S&P. Two students played off each other. Distinctions between internal and external peaks. Subtlety of the impulse leg. Great set-up failed to reach p? Think about shorting. ____________________________________________________________________

No Trader Left Behind - Session 1 (April 1, 2013) Attendee Comments Rick, Thanks so much for today's NTLB. I couldn't have asked for anything more from today's session. I had learned camouflage from your course when it was a recent addition to the plan and have used it many times since taking the course. But today things changed dramatically for me. Using a current ES chart you pointed out the relevant ABCD pattern on a chart of larger larger (60 min) and then honed in on a chart of lesser degree (5 min) showing precisely how to get into a profitable camouflage trade with limited risk. Being able to ask questions about specific details of a trade or pattern was invaluable. It wasn't necessary to wait for a similar issue or another chart to arise before a question could be answered. I felt for the first time that something just 'clicked' and I got it. I've attended many of your 'impromptu' webinars and weekly sessions associated with the course and have always found them very helpful. What was different today was the opportunity to speak with you directly and get an immediate response to a question. I am now confident that I'll be able to not only recognize the relevant patterns, but to profit from them more consistently. I can saw without reservation that today was one of my finest educational experiences. Thank you. All the best, John B. ____________________________________________________________________ Rick, What I got out of the session: 1. A better understanding of when to bend the rules. 2. How to identify ABC's a little better, this is something that I struggle with 3. Why single bars generate higher probability trades What I am still struggling with: 1. Lack of confidence in the system, which I expect will come

Gold was down moderately late Sunday night, but the June Comex contract looked like it had farther to fall. The target I've provided can be used to bottom-fish but also analytically, since a decisive penetration of the support would indicate still lower prices below $1400.

All signs point higher at the moment, but even Google will have to top somewhere. My best-bet for a short-able apex is 929.78, the Hidden Pivot target of a well-defined ABCD on the monthly chart (see inset). You can try shorting with camouflage at that number, or at the D target (in purple) of the lesser pattern, but until then all trades should incorporate a bullish bias.  ______ UPDATE (May 23, 12:40 a.m. EDT): Yesterday's selloff did not create an impulse leg on the hourly chart, but it is not exactly a sign of good health that the decline has begun without GOOG's having quite achieved our 929.78 target. A further drop today exceeding 883.96 to the downside would add to the evidence that the recent top will be an important one. _______ UPDATE (May 28): If Friday's lows give way, look for a further fall to exactly 854.65. That's a Hidden Pivot support that comes from the hourly chart (A=909.31  on 5/22), and it can be bottom-fished either using camouflage or the tightest stop-loss you can handle. _______ UPDATE (May 29): A day of gratuitous hysterics has altered our target slightly.  It is now 853.84, a Hidden Pivot that can be bottom-fished as noted above. _______ UPDATE (June 4):  From the opening-bar high, GOOG plunged $16 today, to an intraday low at 854.07 that came with 23 cents of the target given above.  The subsequent bounce carried nearly $8, so it would have been a great set-up for bottom-fishing (or exiting shorts). If you would like to learn how to do this cheap parlor trick yourself, consider taking the Hidden Pivot Webinar.  This six-hour course is available to all and can be taken at your leisure in six recorded segments.  Note to camouflage traders:  The first place you might

If the futures are in fact in a topping process near our longstanding target at 1624, it has become painfully tedious to monitor.  To get short via camouflage, traders should nonetheless continue to look for bearish impulse legs on charts of 15-minute degree or less.  As always, the goal would be to come away from even bad trades with a small profit or a scratch. A decisive move higher could be expected to generate another shorting opportunity near the 1646.75 target shown (see inset), but my gut feeling as that there has been too much consolidation already to propel the rally a mere 23 points higher.  An alternative interpretation is that the 1629.75 target associated with A2 could still contain the move.