I was thinking last night that it might be helpful for those who participated in the Momentum Oscillator webinar to see how I use the oscillator day to day for the next two weeks. There is only so much I could cover in the webinar (even though it went on for nearly three hours!), and this will give me an opportunity to show you some of the nuances you should find helpful.
I know that this wasn’t a part of the webinar, so you can think of it as a “bonus,” if you will. If participants would like this, I would be willing to send out a brief review each night highlighting the setups and how the oscillator “told” us what to expect in the market. Of course, there would be no charge for this. And, I will do it for two weeks for the intraday trading of the S&P e-minis.
Would you like that? If so, you have to let me know. Please let me know in the comments section on this blog post. Just click on the “Leave A Comment” button and let me know what you think. If enough people respond favorably, I’ll start with Friday’s very interesting market action.
I would love it Gary.
Better yet, why not broadcast live for the (2) week period; I’d follow. 🙂
On a serious note, your offer is generous; I believe that a great deal of your personal time will be invested in this offer, and, this is add’l proof of your intent to help your “students” on their road to being successful traders.
Thank you so much.
Respectfully,
Stan Steinberg
Hi Stan,
Thanks for your comment.
Although I trade live from time to time for the VSA Club, live broadcasts are really tough for me for a number of reasons. First, I am not a multi-tasker. Trying to teach effectively and trade well simultaneously is a nearly impossible task for me. Also, I trade when I want to. Sometimes it is pre-US open then I am done, sometimes at night, sometimes I am doing other things and not trading at all. Having to sit in front of the screen at the same time day after day would quickly become a job — it’s not why I trade.
I also don’t think it is in the best interest of those trying to learn. It is way too easy to just take the trades I am taking and not do it on your own. Livermore said trading is a “Lone wolf buisness,” and he was right. And, the frustrating thing for me when I do trade live is that I often get emails later that day from people saying that they didn’t like the trades I was taking, but took their own trades that didn’t work out and then want explainations, have complaints, etc. So, maybe someday, but not right now.
Sending out a review each day will definately take time. You are quite right about that, Stan. This is why I’ve asked if people are really interested and to let me know of that interest. If there is enough interest, I will be happy to do it.
Gary
HI Gary,
I would really appreciate you posting a review each day highlighting set ups for the day. I am sure it will help cement my understanding and application of this very valuable trading tool. Thank you for the offer.
Kind regards
Les Sheehy
Hi Les,
Thanks for the comment. That is exactly to purpose. It will help you to incorporate what we learned in the webinar and see it unfold in the market. On Friday, there were two First Higher High setups, a Trend setup and 3-Pushes. Not bad for a Friday!
Repetition is the mother of retention. I know that seeing it with the trade setups would help the learning curve. Also understanding the nuances from a live market application would help.
Thank you for your generous offer.
Kindest regards,
Joel
Thanks for your comments, Joel. Repetition is the way our brains are designed to absorb information, especially skill sets like trading. When we see it over and over again, it becomes a part of us. This is one of the keys in building that oh-so-ellusive confidence traders crave. Confidence never comes from outside sources; it always comes from inside. That takes practice, and that means repetition. Nice thoughts, Joel.
Gary
I would love it Dr. Gary.
And if it is a go I would like to request trading examples of how 16ma is used to predict the direction.
I understand that 16ma is the average of the last 16 periods but for me it didn’t become clear how this can be used to anticipate the direction. I don’t have TS charting and would like to know the concept so I can apply it anywhere
Thanks
Bo
Thanks for your comments, Bo. There was a very nice example of the 16 Average giving us a “heads up” on price direction on Friday. I will send you the lines of code via text so you can use it in other software.
Gary
Gary,
Thanks for offering, I’d be interested in seeing more setups in the current market so that I could see my trades that day and compare and contrast what you were seeing in the market.
Chuck
Hi Chuck,
Thanks. This is a good idea. It is one of the practices we talk about in Chart Reading Mastery. Reviewing the market to see how it unfolded will make it easier for you to recognize it again later and act on it in real time.
Gary
Thanks Dr. Gary:
Your bonus charts will be very helpful to me. Seeing next to real time, practical application, with comments, of the concepts you taught in the Momentum Class will help to cement them in place. The supplemental charts are a very good idea, and I appreciate them.
Thanks again,
Victor
Victor,
Glad to hear from you and glad you like the supplemental charts. When you see — after two weeks — that the same straightforward trades off that simple but effective oscillator keep coming up again and again, it will “cement” in your mind.
You can see on Friday there were two 1st Higher Highs. This is a very common event – the smaller time frame will always lead the higher time frame, but is is always the higher time frame that gives us the direction. We see dirsction on the 60-min and the 9 K Tick 16 Average. It then makes it easy to take the 3 K Tick setups. I couldn’t cover that ground in much detail during the webinar, but can cover it better in the bonus charts.
Gary
Gary
Dr. Gary,
I love the bonus charts and it’s always helpful to see how what you teach is put into practice. If you are so inclined to do so, please keep sending.
I have a question about the 3k tick chart 3 push short you mentioned. Is that something you would take? I ask because the 9K 3/10, from what I see looked bullish to me.
David
Hi David,
Thansk for your comments. Good question on the 3-Pushes.
It was overbought on that time frame, high in the trend channel/SOT (RUTLs). The 9 K Tick chart looked reasonably stong, though the 3-10 had reached a high level and was begining to roll over. All of this is secondary to structure. Look on the 60-min chart (or the 9 K Tick) and see where this market rallied to. Can you see the daily resistance there?
Dr. Gary,
I think this would be extremely helpful. I have found that reading about things from a book and trying to learn and apply it is difficult, mostly because it is not current markets, and the fact the authors can pick the perfect setups to put in their books! Having something daily in real time would be helpful for me because I can immediately compare it to what I have done, or what my thoughts were for a particular setup. Thanks Dr. Gary!!
Mark L
Mark – appreciate your comments. We have been getting a lot of great Momentum Oscillator setups the last few days. Several webinar members have sent emails saying they are capturing good moves off this oscillator. Using the type of chart I have showed you and the multiple time frames really makes this a great tool. Comparing what you see with the charts I send out is a smart way to use these. When you find a difference, work to understand what the difference is. It may be that you have seen something I haven’t or vice versa. Either way, use it to learn.
I would be most interested on your ongoing comments on the oscillator.. Good Work
Hi Barry,
I have sent out detailed notes on using the Momentum Oscillator over the last six days. If you haven’t been getting these bonus charts and comments, please let me know and we will get them out to you.