Chart Pattern Trading via Day Trade Stock Options Intro

Trading is one of the uniquely modern ways to become wealthy in a relatively short time. These financial times hold an amazing opportunity for people that take advantage of it. This course is a clear path to repeatable success as a trader. (Enjoy more of your life. The less-than 4-hour work week is right here.)

This is an introduction to Investing and focuses on Trading for faster profits and lower risk.

You will know the What, When, Why and Where for trading. These facts are necessary for repeatable success.

Simple strategies are the best. Being relaxed as the lectures entertain and educate is the fastest way to absorb it. Don't take notes the first time through since the points are delivered crisply and are very visual. If you need to watch it again, it's always here for you. Note: Being critical of the content will distract peoples brain (lower IQ during learning and reduce learning rate).

We teach 10% in 10 minutes. We look at risk and reality. See a chart of growth from a University Finance professor. See what a $1,000 account or a $25,000 account can do in a year. Don't expect to hit this goal on the first try. Greed versus Fear. Once in a while you can hit a home run, but think of it as gravy and not your bread and butter.

Allen explains what a stock is.

An Option is a contract that can be bought and sold. It has some rights and conditions.

There are a few tools that Day Traders need for high-speed income. {Charts, Brokerage Account, Indicators} These will be covered in more detail in this course.

Charts are the primary way that traders get information visually. This is an introduction to charts.

The types of Options and the elements that go into making an Option.

A "Call" Option is intended to make a profit when the Stock rises.

A "Put" Option is intended to make a profit when the Stock falls.

Of the 7,000 active stocks listed on the NYSE only a small fraction have options worth trading. Get the criteria for picking an option. There are over 1 million option codes. Only a few are barely worth our attention. Goal is to have 30 stocks to watch.

Most people listen to the news for tips on what to trade. Know the advantages and disadvantages of following the news. Professional traders use the news differently than the general public does. Resources include links to books that talk about how News doesn't work for people as Tips.

Why it is better than looking at the news? Examples of trending in ordinary life. Examples of stocks that trended. Blending News with Trending for investors. Trending is great for Traders!

What are indicators? Why we use them.

Practice makes better. Don't need to be perfect. Need to be professionally skillful when trading. Start with practice until you know you are great at trading - without risking money.

About the Replay function. {Just moving back and forward and using the buy calls/puts window showing no indicators, randomly winning and losing based on eyeballing the candlesticks.} [** Use sports examples and medical examples - Doc looking at xray. **]

There are times when installed software has advantages over browser pages. The limitations of browser versus importance of Day Trading with money. Portable isn't as important as professional. Entry and exit in short timeframes. Focus on best app you can find for 20 minutes and then enjoy the rest of the day.

If you go with any service or software, just be sure they have indicators that work for you. The K-Band and M A Genius are examples of great indicators. I find the MACD is too slow. Over 600 indicators out there and you'll find people that love various indicators. I recommend that you get repeatable success no matter which ones you like. It must be a system of simple rules.

Look at a couple random dates and stocks to watch and see the trade developing. This is like what we are do everyday in real trading. You can pause and confirm that you can run through the Replay and make 10% in 10 Minutes, then come back to see the trades.

Showing another random day and the trades rules.

For highest probability of success, we want "the wind at our back". We move with the tide, not fight it. We use human trading patterns (emotional trading of others) to make for more reliable conditions for ourselves. Investors are pushing the market or a particular stock in a direction with their desires. We ride along. We are looking for those conditions to be met *first* and then we act. That method eliminates forecasting, guesswork and hoping for success.

This lecture isn't for everybody. It's technical and detailed. It is for people that want to explore trading ideas. As you become more familiar with Options Trading, you are exposed to different strategies and indicators. How do you know they really work? Hindsight is a teacher, and in the markets, patterns repeat themselves because it's driven by creatures of habit: people. A trading system needs to have repeatable success. If you develop something, please test it thoroughly. This lecture gives guidance to those that want to build a unique system of their own.

If you want to buy or sell in the Stock market, you need a brokerage firm.

What do you know about Brokers?

To trade successfully, you need to be set up for success. Your brokerage account has to be set up. You have to have completed at least 15 practice trades. Then you are ready to move into the 'Live' version of WoP. [ Brokers often have simulated "demo" account... get good at clicking your order. Most common mistake by far is clicking the wrong buttons: Buy/Sell Call/Put. I always prepare my exit order right after getting the entry order filled. Makes that part simple and accurate.]

If you plan on "10% in 10 Minutes", you should be prepared to exit trades almost as soon as you enter them

Live Trading is an extension of what you learned in practice. Here is a view of the Live market and some information about trading volume.

Allen walks you through the process when your trial version of Waves of Profit expires.

$45K! Huge day for one of our students. The Chinese stock market melted down (crashed) and pulled down the stock market in NY and around the world.

I interviewed David and asked him how he did it. Then Allen and I dissected the days so you have a blow-by-blow description of the events.

The recording is not available in the course, but you can watch it on our closed Facebook group page.

https://www.facebook.com/groups/wavesofprofit/

Allen shows advanced strategies where he made two trades in less than 30 minutes: one made 30% and the other 20%.

Allen and Scott are joined by a successful trader and discuss two profitable trades on January 19th and 21st as well as the outlook for the market.