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Check out the latest Market Radar video above.
Slight bias to the upside. Represents at least one indicator lining up to the buy side. It's a lower probability setup
Slight bias to the downside. Represents at least one indicator lining up to the sell side. It's a lower probability setup.
Represents a set up with at least two indicators lining up with a buy signal. These signals need to be weighted with current market sentiment and if there is any positive momentum to the markets to give this a higher probability signal
Represents a set up with at least two indicators lining up with a sell signal. These signals need to be weighted with current market sentiment and if there is any positive momentum to the markets to give this a higher probability signal
The strongest signal. Represents a multiple indicator set up based on multiple time frames, pattern recognition and at least 3 indicators converging in a buy signal.
The strongest signal. Represents a multiple indicator set up based on multiple time frames, pattern recognition and at least 3 indicators converging in a sell signal.
NOTE: Momentum plays an important part in markets. In a trending market, we experience consolidation days and short term down moves these signals will only be released under the optimal conditions
NOTE: Timing the markets is hard when you try to time a bottom or a top. These periods could play out over multiple days. Momentum in the direction of a trade adds a lot to the signal and will be added to the equation. There will be times when a signal will go out and the markets will go into a consolidation period that could last a couple days as the markets puts in a bottom or a top. That signal will stay active in those periods or if signal changes.
If the market is not trending or uncertain, it's easy to over trade and get chopped up. Discipline in knowing when to protect capital is the most important factor to self preservation in the markets. You don't have to trade every day. Caution is a signal when the markets are unstable and the future is uncertain. This signal appears when there is over hanging news that is disrupting the normal flow and causing the markets to give false signals. Remember, there isn't any wrong signal the markets are always right. But, if there is something that is moving the markets out of it's normal boundaries and signals start to fail, then we have to be ultra cautious and cut back on both trading and size. I am a big proponent of trading small. In this current environment. I like to test the waters with smaller entries and when the market gets back into a "rhythm" then it's time to make the money.
Market Radar is an old feature that I will be bringing back to Day Trading Radio. It will consist of a market call on specific days where I see a convergence of important indicators that are followed at DTR. This alert will be released on a need to know basis. So, if I see a potential for a high probability move up or down or even if we have a very uncertain situation playing out, I will do my best to post the update here.
The alert will come in 7 different types outlined below
If you're a follower of Day Trading Radio, you know that I work with a duel stochastic indicator that times the futures with incredible accuracy. I also use a methodology called High probability Setups (HPS) that consist of pattern recognition, trend lines, short and longer time frame stochastics. I also take into consideration certain candle sticks combined with volume. All of this can be used across different trading vehicles. This signal released will be based on the S&P 500.