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Danielcode Webinar-Part 2 8 th September 2009 Swings, DC Retracement Tool, BB3s, Risk Management, the 2% rule, T.03 entries www.thedanielcode.com
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Danielcode Tutorial & Library The last tutorial for 2009 is being held in Taupo, NEW ZEALAND on 27/28 October. Details are on the DC website. The last tutorial for 2009 is being held in Taupo, NEW ZEALAND on 27/28 October. Details are on the DC website. Danielcode Library at Genesis will be released this week. The Library is free for Danielcode members. Eric Seltzer will have a list of members and will co- ordinate your access. Danielcode Library at Genesis will be released this week. The Library is free for Danielcode members. Eric Seltzer will have a list of members and will co- ordinate your access.
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Swings-Genesis study with DC settings
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DC Retracement Tool
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BB3s BB3 is a momentum indicator BB3 is a momentum indicator It looks at just the last 3 completed bars It looks at just the last 3 completed bars A BB3 is the biggest bar in the past 3 bars measured in different ways A BB3 is the biggest bar in the past 3 bars measured in different ways Markets can accelerate or exhaust on a BB3 Markets can accelerate or exhaust on a BB3 They are a cautionary signal for early entries-DC Library will create them They are a cautionary signal for early entries-DC Library will create them
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Qualifying the Trade. We use the daily chart with the fast stoch to “qualify” the trade
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T.03 Signals-Daily signals valid for 2 days
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Sometimes they look ugly!
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This T.03 is “elected” on the 2 nd day
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Some will morph into a DC Blue line trade in 3-4 days
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Here’s another
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T.03 signals MUST be “Elected”
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CAUTION! You cannot trade Forex without Genesis Trade Navigator. It is the ONLY program that operates on correct Forex time. Other charting platforms will give you incorrect prices. Forex is an international market that works on GMT
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Earlier Entries The T.03 signals MAY be anticipated on shorter term charts The T.03 signals MAY be anticipated on shorter term charts Some of the Danielcode trade signals can be anticipated and others cannot, so be clear which is which Some of the Danielcode trade signals can be anticipated and others cannot, so be clear which is which Other entries that we will discuss in later webinars in this series require entries from the daily chart Other entries that we will discuss in later webinars in this series require entries from the daily chart
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T.03s are a leading indicator-they can be early. Move your stops to protect profits
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Risk Management Risk management is what keeps you in the game. It is vital knowledge Risk management is what keeps you in the game. It is vital knowledge We have no way of knowing which of our trades will be winners, and which losers. So we try to make the “risk” on each trade the same We have no way of knowing which of our trades will be winners, and which losers. So we try to make the “risk” on each trade the same Measure from the initial stop on entry to the entry point in $; then adjust the contract size of the trade so it is no more than 2% Measure from the initial stop on entry to the entry point in $; then adjust the contract size of the trade so it is no more than 2% Use the Genesis “Risk/Reward” tool to make this calculation Use the Genesis “Risk/Reward” tool to make this calculation
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Genesis Risk Tool
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Outside Bars. Always S/R at the point where an outside bar occurs
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Stop loss management Every trade order must have a stop loss Every trade order must have a stop loss Use “if done” stops Use “if done” stops Stop on entry goes above/below the swing Stop on entry goes above/below the swing Move your stops to break even as soon as practicable Move your stops to break even as soon as practicable Move your stops to protect profits Move your stops to protect profits
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That’s all Folks Thanks to Glen Larsen, Pete Kilman and all the crew at Genesis for hosting these September “5” webinars. Thanks to Glen Larsen, Pete Kilman and all the crew at Genesis for hosting these September “5” webinars.
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