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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. 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. - PowerPoint PPT Presentation
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Danielcode Webinar-Part 2 Danielcode Webinar-Part 2 88thth September 2009 September 2009Swings, DC Retracement Tool, Swings, DC Retracement Tool,
BB3s, Risk Management, the 2% BB3s, Risk Management, the 2% rule, T.03 entriesrule, T.03 entries
www.thedanielcode.comwww.thedanielcode.com
Danielcode Tutorial & LibraryDanielcode Tutorial & Library
The last tutorial for 2009 is being held in The last tutorial for 2009 is being held in Taupo, NEW ZEALAND on 27/28 October. Taupo, NEW ZEALAND on 27/28 October. Details are on the DC website.Details are on the DC website.
Danielcode Library at Genesis will be Danielcode Library at Genesis will be released this week. The Library is free for released this week. The Library is free for Danielcode members. Eric Seltzer will have Danielcode members. Eric Seltzer will have a list of members and will co-ordinate your a list of members and will co-ordinate your access.access.
Swings-Genesis study with DC Swings-Genesis study with DC settingssettings
DC Retracement ToolDC Retracement Tool
BB3sBB3s BB3 is a momentum indicatorBB3 is a momentum indicator It looks at just the last 3 completed It looks at just the last 3 completed
barsbars A BB3 is the biggest bar in the past 3 A BB3 is the biggest bar in the past 3
bars measured in different waysbars measured in different ways Markets can accelerate or exhaust on Markets can accelerate or exhaust on
a BB3a BB3 They are a cautionary signal for early They are a cautionary signal for early
entries-DC Library will create thementries-DC Library will create them
Qualifying the Trade. We use the daily chart Qualifying the Trade. We use the daily chart with the fast stoch to “qualify” the tradewith the fast stoch to “qualify” the trade
T.03 Signals-Daily signals valid for T.03 Signals-Daily signals valid for 2 days2 days
Sometimes they look ugly!Sometimes they look ugly!
This T.03 is “elected” on the 2This T.03 is “elected” on the 2ndnd day day
Some will morph into a DC Blue Some will morph into a DC Blue line trade in 3-4 daysline trade in 3-4 days
Here’s anotherHere’s another
T.03 signals MUST be “Elected”T.03 signals MUST be “Elected”
CAUTION!CAUTION!You cannot trade Forex without You cannot trade Forex without Genesis Trade Navigator. It is the Genesis Trade Navigator. It is the ONLY program that operates on ONLY program that operates on correct Forex time. Other correct Forex time. Other charting platforms will give you charting platforms will give you incorrect prices. Forex is an incorrect prices. Forex is an international market that international market that works on GMTworks on GMT
Earlier EntriesEarlier Entries The T.03 signals MAY be anticipated The T.03 signals MAY be anticipated
on shorter term chartson shorter term charts Some of the Danielcode trade signals Some of the Danielcode trade signals
can be anticipated and others can be anticipated and others cannot, so be clear which is whichcannot, so be clear which is which
Other entries that we will discuss in Other entries that we will discuss in later webinars in this series require later webinars in this series require entries from the daily chartentries from the daily chart
T.03s are a leading indicator-they can be T.03s are a leading indicator-they can be early.early. Move your stops to protect profitsMove your stops to protect profits
Risk ManagementRisk Management Risk management is what keeps you in the Risk management is what keeps you in the
game. It is vital knowledgegame. It is vital knowledge We have no way of knowing which of our We have no way of knowing which of our
trades will be winners, and which losers. trades will be winners, and which losers. So we try to make the “risk” on each trade So we try to make the “risk” on each trade the samethe same
Measure from the initial stop on entry to Measure from the initial stop on entry to the entry point in $; then adjust the the entry point in $; then adjust the contract size of the trade so it is no more contract size of the trade so it is no more than 2%than 2%
Use the Genesis “Risk/Reward” tool to Use the Genesis “Risk/Reward” tool to make this calculationmake this calculation
Genesis Risk ToolGenesis Risk Tool
Outside Bars. Always S/R at the Outside Bars. Always S/R at the point where an outside bar occurspoint where an outside bar occurs
Stop loss managementStop loss management Every trade order must have a stop Every trade order must have a stop
lossloss Use “if done” stopsUse “if done” stops Stop on entry goes above/below the Stop on entry goes above/below the
swingswing Move your stops to break even as Move your stops to break even as
soon as practicablesoon as practicable Move your stops to protect profitsMove your stops to protect profits
That’s all FolksThat’s all Folks Thanks to Glen Thanks to Glen
Larsen, Pete Larsen, Pete Kilman and all the Kilman and all the crew at Genesis for crew at Genesis for hosting these hosting these September “5” September “5” webinars.webinars.