Entering and Exiting A Trade is just as easy as clicking Enter on a keyboard.
Trading profitably is a different story and it requires a trading edge.
What is my trading edge? The FREELY AVAILABLE SwingArm for ThinkOrSwim.
- The Single Timeframe SwingArm
- The Multi Timeframe Swingarm.
The SwingArm is an indicator for ThinkOrSwim which provides a visual representation of price action on a chart. This indicator is a forecasting instrument allowing a trader to plan ahead a potential point of entry or exit of a trade.
In addition, a trader may also use pivot points, regression channels to assist in making trading decisions.
The blackFLAG Trading Alert System is optimized to trigger only on high probability trades. All you have to do is wait for the setup to enter the trade.
Change in Trend / Price Action
As a technical analyst, a trader can easily fall pray to a predetermined analysis. Prior to a market session open, traders draw charts, considering trends, channels, intersecting lines, critical levels of support and resistance and based on the review develops an expectation of price action.
Price Action can change at a moments notice. This can occur due to a news event (domestic or international). As changes in the market environment are assimilated by price, trends will continue the trend or change the trend. Being able to adjust positions from Short to Long and vice versa is critical to trading success.
DO NOT GET ATTACHED TO YOUR PRIOR ANALYSIS AND READ PRICE ACTION!
TAKE ACTION ACCORDINGLY! With blackFLAG© FTS, the system will alert the change in market sentiment allowing a trader to take appropriate action!
Study Trends Using the Single and Multi Timeframe SwingArm available for free on this website.
Draw Channels / UpTrend / DownTrend / Intersecting Short & Long Term
Understand Support / Resistance / Channel Breaks / Price Action
Use blackFLAG© Futures Trading System
During the study and evelopment, my days Started at 2:50 AM (Miami / NY) and they continued sometimes until 8:00 PM. When you love what you do, you do not feel you are working. It is awesome.
Opportunities for the day
Day Trend / Symbol
Example Below: OIL FUTURES
Any News Events which may affect volatility.
Maximum Stop Loss when using the blackFLAG© Futures Trading System is $500.00 Per Contract (ideally). The most common stop size ranges from $200 to $300 per contract.
Remember that this exposure is for a short period of time (usually 10 to 20 minutes) As price moves in the expected direction, backtests, and then fails, the stop can then be adjusted to break even.
Sometimes due to price action and volatility, the stop size may be increased to $400 or $500 per contract. This is only for experienced traders! This may occur at major turning points where volatility increases greatly. Some traders may even use a $1,000 stop per contract. It all depends on the setup.
I do not use large stops. It is best to allow price to set up and enter from a support or resistance level once the trend is on its way.
How To Make An Entry Decision?
Some traders use fundamental analysis to make a trade entry / exit decision. Others use technical analysis. Both processes require significant knowledge and both have significant risks associated with them. There are ways to mitigate the risk but the risks are always there.