Michael S. Jenkins Trading Video runs 6 to 7 hours in length and parts of it may seem boring and very ‘basic’ for experienced traders. Sprinkled throughout, however, are lot’s of tips and new ideas never published before and if you skip around looking for interesting stuff you will undoubtedly miss many important observations. My advice is pick a time to watch at least an hour at a time and note the ‘time expired’ statistics on the bottom of your video viewer so you can pause or stop and pick it up later at those points and not miss anything.
While the first hour or two are very basic you must relearn all these basic principles in sequence so you can become ‘instinctive’ in your trading and can instantly buy or sell at your calculated points. Waiting to ‘see’ if your numbers work defeats the whole method. You must buy or sell at support or resistance and trust stops to protect you in the 20% of cases where your numbers may not work. The whole process of ‘trading’ as opposed to ‘investing’ implies quick reaction and that can only be accomplished by TRAINING your subconscious m ind to do things based on principles that have been shown to work over time. If you learn the techniques shown in this video you should be able to build sound habits that will lead to success.
What You Will Learn:
1) Identify the trend: Higher bottoms and higher tops PATTERN for the bull trend, lower lows and lower high s PATTERN for the bear trend. Combined with 1 x 1 or 2 x 1 angles to show strength. Should be on all time frames.
2) Where did trend start?: Signal reversal bars on weekly, daily, and intraday charts with a change from a n g les pointing down to angles pointing up, combined with a reversal in PATTERNS.
3} Likely end points: measured moves, reversal bar length doubling, natural ratio lines, arcs, culminations above or below moving averages, weekly chart reversal bars, end of grid patterns.
4) Stop Loss strategy: max percentage loss, trailing: 2-3 bars or length of reversal bar, bar before reversal bar, moving average.
5) Entry and Exit strategies: sign a l bar reversals accompanied w ith higher bottoms and angles from last top overcome as well as regaining prior ‘stair steps’; 50% last swing recovery. ALL time frames turning.