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Learning How to Draw Channels to Trade Futures

HOW TO DRAW CHANNELS

Danny Riley Published on Mar 8, 2015

Selection of YouTube Videos To Study

General Trading Knowledge from Marty Schwartz, and Other Helpful Channel Drawing videos
My indicators, the blackFLAG© FTS, were developed to assist me in making trade entry decisions. My trading style focuses on using regression channels to provide me an idea of possible trade opportunities in the market. The tool set of indicators, some of which are FREE and discussed below, provide me an added edge to facilitate the entry timing, management and exit of a trade. While the tools provide useful guidance, the implementation of the system requires training, testing, and lots of education.

This website is my trading journal where I document my learning process during this long journey of identifying what works for me. Each trader will go thru their own journey and the principles discussed here will greatly shorten a traders’ learning process.

THE FIVE OUTCOMES TO A TRADE!

My mentor taught me the first four. Marty Schwartz taught me the fifth one “Stay Neutral”. Close the trade at break even if the move you expected did not develop. Losing control of a few trades can break your account, greatly affect your mental state and your ability to make proper decisions.
BE PATIENT, STUDY, PAPER TRADE UNTIL YOU HAVE CONSISTENT
PROFITABLE RESULTS
STUDY TRENDS 84%
DRAW YOUR CHANNELS 92%
MANAGE YOUR TRADE 72%

Making money trading is feasible for many but trading is not for everybody.

Take your time to learn, invest in your education time, effort and get the experience needed in various types of markets prior to putting your hard earned money at risk. It is up to you which route you take.