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How the ProTrader Dashboard Works Part Indicator, part scanner, brand-new way for retail traders to track institutional buying and selling in real time — and trade these moves! My ProTrader Dashboard consists of 3,223 lines of proprietary code, and I believe it’s the most useful trading tool in the world. You won’t find anything like this anywhere else... You know why? Because there are winners and losers in every trade, and hedge funds and institutions want to beat you and take your money — so they don’t want you to have tools like this. Like I said: It’s part indicator, part scanner. And when you apply it to a trading platform like Thinkorswim, it gives instantaneous alerts when institutions are likely buying or selling certain stocks. Which stocks? Well, that’s where the scanner comes in... How the Scanner Works The scanner spoon feeds you the strongest and weakest stocks to trade each and every day. So you’ve run the scan and you have the strongest stocks of the day in front of you. The relative strength indicator will then show how this stock’s strength compares with the S&P 500 (SPY) — on hourly, 30-, 15- and 5-minute time frames! — that day. Let’s say your stock is “green” in all of these time frames… which means it’s stronger than the SPY over the same periods… that means the stock’s relative strength is about as good as it gets. And that means this stock is a prime target for an upside breakout day trade. Or let’s say the S&P 500 is pulling back over the last 30 minutes after moving higher and higher… You click on the 30-minute relative strength highs scan, and that gives you every stock in the S&P 500 that outperformed the index over the previous 30 minutes. Then the S&P 500 moves higher again… All of those stocks you found that were outperforming, they’re likely going to explode higher again because they have strength in comparison to SPY. Now where else are you going to find this info? No where! You Have a Stock Picked. Now What? Once you know which stock or ETF you want to trade, how do you know what to do next? Well, green up arrows signal longs (buying), and red down arrows signal shorts (selling). Not only that, but it also gives you the first two profit targets, simplifying everything for you and cutting out the guesswork. Do I hold? Do I sell? Do I cut my losses here and move on to the next trade? It’s very important to have a trading plan in place, and then sticking to it. And the ProTrader Dashboard tells you exactly what to do, so all you have to do is follow the signals. No, you won’t win every trade — that’s impossible. But this dashboard will give you the edge to take your trading to the next level. Back to our stock that’s green in every time frame and appears prime for an upside breakout day trade… As soon as that green arrow dings, I know to enter. And once I enter this long position, the dashboard tells me my stop loss (dotted yellow line), and my first two profit targets (solid green lines for longs). That goes for downside plays as well, just in reverse. So let’s say you find a weak stock that checks every time frame box, and you see above average volume. BABOOM — a red down arrow pops. Time to go short, rinse, repeat. But that’s not all the ProTrader Dashboard does… not even close! Built-In, Custom Indicators We have several fully customized, built-in indicators to give you the most important information in real time. These indicators track unusual volume activity, which gives us a great idea when institutions are likely buying or selling. The volume tracker compares volume bars during the same time periods dating back 20 trading sessions. So let’s say we’re looking at a 5-minute bar... This indicator will go back 20 full trading days and compare that specific bar to the previous 20 during the same 5-minute period. This is important just like comparing the same quarters is important for earnings. You compare the first quarter to the same quarter a year before, and the fourth quarter to the same quarter a year before. Why? Let’s say you’re comparing Amazon’s earnings in a quarterly report. You wouldn’t compare sales in the first quarter to sales in the fourth — the holiday quarter — because it’s not an apples-to-apples comparison. In the same vein, volume at 3:30 p.m. versus volume at noon is not the same. Volume is high at the open, low in the afternoon, and then it rises again into the close. So by comparing the same time frame over the previous 20 days, you might see that volume for that specific time is actually much higher than you think. And that’s important because we have to look at this just like an institution. Here’s what the volume and relative strength portions of the dashboard look like… After using the ProTrader Dashboard, you’ll never look at volume, price action or relative strength the same again. How Do I Launch It? It’s also incredibly easy to launch — no install required… All you have to do is open your Thinkorswim platform, click “Setup” in the top right corner, then “Open Shared Item,” then paste the link we provide into the “Shared item URL” field, and then click “Import.” And you’re off… that’s it! It’s that simple. If you can copy and paste something, then you can launch this dashboard. So there you have it… I’ve included everything we need in the ProTrader Dashboard, excluded everything we don’t, and made it stupid simple to use so we can put the trading odds in our favor. If you want more information, simply go here! *The profits and performance shown are not typical, we make no future earnings claims and you may lose money. The alerts expressed are trades Roger published in real time using the ProTrader Dashboard in his VIP room over the summer. There were bigger winners, there were smaller winners, and there were losers. Trade at your own risk. |
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ABOUT US: We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. The TradingPub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. Sent to: penunggangbadai.moneyblog@blogger.com UNSUBSCRIBE This email was sent by: The TradingPub 101 Marketside Ave, STE 404, PMB 318 Ponte Vedra, FL 32081 www.rogerscott.com |
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