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!
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