Key Trading Rules For Survival – Rob Hoffman
Key Trading Rules For Survival
This course includes 2 ½ hours of very specific rules Rob uses for trend identification, how he trades them for entries, exits points utilizing accumulation and distribution, Rob’s favorite scaling techniques and requirements, failing trade identification, key thoughts for trade management, and a trading checklist Rob uses prior to entries.
Topics and Tips Covered
20 MA and 50 MA – between is No Trade zone
50 and 200 period Moving average
60 minute chart – 20 period MA and trend and RSI placement/neutral
60 minute chart – Critical to have trend or expect snapback
Accumulation and Distribution
Adrenaline Trades – NONE – Wait for proper setup only – less painful
Backup plan before going into a trade
Better to be out of a trade then in one and wish you weren’t
Bordom trading – counter trend
Business of trading – need to follow the plan
Capital preservation is job ONE
Channel trading – Las Vegas trade show – who sees a trade?
Confluence or Consolidation
Control freaks – cannot control markets – stack probabilities
Cost basis close to major support or resistance levels
Emotions and Trading
Executing a trade and considering MTF charts for Risk
Expectations in trade not met then get out
Failing trades
Failing trades – 20MA goes flat then get out
Go lighter on size
High vs low probablity trades
Junior traders and the one that got away
Low probability trades – just because you can does not mean you should
266pt; height: 12.75pt; border-top: windowtext; border-right: windowtext 0.5pt solid;” width=”354″ height=”17″>Moving Average support with MTF
News and earnings announcements
No revenge trading
No Trading times
Pressure to trade – Damage and disrepair
Professional trader – becoming one and growing confidence
Random distribution of winning and losing trades – Revenge trading
Revenge trading – avoid – Alpha males and Alpha females
Risk assessment
Rule followinng
Scale in levels – where do I scale in?
Scale in only in direction of solid trend – Senior trend
Scaling – not comfortable – do not do it
Scaling and distance to resistance levels
Scaling and Trailing stops
Scaling Entries – Risk assessments – Trend and support nearby
Scaling entry is very far from 20 MA – Back up plan – initial entry is small
Scaling in sideways – Do not do !!!
Scaling into trades only WITH trends
Scaling pyramid – with Trend, Cost basis improvement – Support and Resistance
” width=”354″ height=”17″>Scalping day trades turn into long term holdings
Size of entry – number of contracts
Speedline trend continuation trade – 5 and 15 minute charts
Speedlines need to go with the trend
Support and Resistance transition phase – S and R less effective
Swiss Cheese
TC 20 trade
Time is not your friend in a failing trade
Trade with trend only – Never take a counter trend trade
Trading the money, contract size and comfort level
Trend needs to have AIR in bars to count – Junior and Senior
Trend transition process
Trends and names – all stars in alignment
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