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Traders use charts to find good patterns. When a good setup appears, any experienced trader recognizes it, and can profit from it. If you trade the market, you've experienced these good trades. You just want to capture more of them, and even more importantly, stay out of more bad trades. The difficulty with trading is that these good patterns are rare and infrequent. So we often lose patience, see patterns that really aren't there and over-trade. In choppy markets, it takes super-human discipline to stay out of the markets. How do you become more consistent? One way is to use a computerize scanning service, like TradeScalper.com. TradeScalper.com scans the Index and Forex markets, to provide daytrading signals. Tuned for today's volatile markets, TradeScalper provides the most accurate daytrading signals of any system offered on the web. Lofty claims? Stay tuned... Tracking Current Trends The following table lists the current trends for the markets that tracked.
Want to learn to stop overtrading? It's simple. Trade only busy markets that are trending. And avoid quiet or choppy markets. With our Trade Time Alert, we'll identify market activity as Busy or Quiet, and market direction as Choppy or trending. The current trend, as listed in the table above, forms the foundation of our methodology. Just ask a winning trader, or read a good book on trading: any good trading system finds good long positions and avoids being short during an uptrend, because the surprise big moves will likely be to the upside. In addition to keeping you on the right side of the trend, TradeScaper provides precise timing based on pullbacks in the market. Again, as all winning traders will tell you, in an uptrend you buy dips, and downtrend you sell rallies. TradeScalper simplifies your trading decisions by:
What is scalping? How do you scalp successfully? The key to scalping is you're not going for the home runs, those big trades that double your account in one day. That's because home run strategies are risky. Scalping is about catching 2-5 minutes of large bars going your way, taking profits quickly. Scalping successfully requires that you risk only 1 big bar against you, versus getting rewarded by multiple big bars. To scalp successfully, timing is key. TradeScalper scans for retraces that don't break the primary trend, supported by volume of traders chasing it the wrong way. The keys to the amazing accuracy provided by TradeScalper is the scanning of real-time price patterns and what we call panic volume. Market action can happen any time during the day, not just at the open or closing hours. TradeScalper keeps scanning the market for action, so that you don't miss the important moves. The TradeScalper system identifies around 5-20 signals per day, over 7 different markets, with more than twice winners than losers on trendy days. On choppy days, with small spikey moves, the system is smart enought to identify fewer signals. That's the hallmark of a great trend-following system: the ability to stay away from bad trading environments. TradeScalper.com publishes daytrading signals in real-time for you to see what patterns the signals correspond to. How do you trade these signals? When a signal is triggered, the market tendency is identified for the next 30 to 45 minutes. For example, if a BUY signal is triggered, you'll be looking for long trades. We recommend a profit target of 20-50 Dow points, 3-6 SPX points, 5-10 NQ points, 30-80 CL cents, and 20-80 currency pips. Your targets will depend on support and resistance levels, which you must identify from the charts. Stop loss orders should be placed at less than half your profit targets, which is very tight, ie, 10-15 Dow points, 10-20 pips. Tight stops work because TradeScalper signals are very TIMELY and ACCURATE. TradeScalper detects only the best high-probability trade setups. As a scalper, you have to be patient enough to wait for the best patterns, not just any good pattern that looks valid. You need to wait for a nice deep retrace, one that doesn't break the primary trend. Even if you're in the biggest move of the day, you would only let your profit run for a maximum of 15 minutes, to your pre-determined targets. Often your targets will dictate whether you enter the trades, whether the rewards are worthwhile compared with the risk. For beginners, try to restrict yourself to trading a single instrument, maximum 4 trades per day, based on the best chart patterns. Especially when you're learning, don't overtrade. E-mail us with your comments, or if you want free real-time signals e-mailed to you. Copyright 2009 by Trading Support Technologies Inc. All rights reserved.
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