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Weak

Weekend Lesson: One -Time Framing

Straight from Trading Advantage's virtual lessons, Larry Levin guides viewers through the One-Time Framing Technique. Using a simple 30 minute bar chart, Larry helps define the steps that can help you identify short term trends. Discover Larry's technique - learned early in his trading career - through a series of clear signals on multiple S&P chart examples. Larry even shows viewers how to apply this technique when considering technical stops versus money stops. Step into Larry's world and learn more!

Watch Now: One Time Framing

Every Success,
The INO.com Team

Buyers or Sellers

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple and straight-to-the-point.

If you like this article, Larry’s also agreed to give you free access to his Weekly Trading Tip.

A question I often receive is, "How can there be more buyers or sellers at one price? Isn't there a buyer for every seller and a seller for every buyer?"

The answer is yes, but people are forgetting one important thing. There is a bid and an ask (or offer), and only one of them can be traded at a time.

A bid is an expression of willingness to buy at a price; an ask (or offer) is an expression to sell.

If the ES is trading at 1200.50, the bid is either 1200.25 or 1200.50. The answer depends on which way the market has just traded. Let's make it easy and simply say the ES is between 1200.25 & 1200.50, making the bid 1200.25. In order for the market to move from 1200.25 to 1200.50, someone must pay up to get filled.

You may not be in a hurry and attempt to wait to buy 1200.25, but that will usually only happen when the bid/ask drops to 1200.00 & 1200.25 and you are actually filled on the ask.

If you are trying to buy and really want to get filled, you must pay up at the offer or risk missing the trade. Conversely, if you really want to get filled on a sale, you must hit the bid, or reach down to get filled.

Sure, there is someone on the other side of the trade, but without you choosing to reach up and pay the offer the market stands still. Therefore when trades are executed at the offer it is said to be done by the buyers even though there are sellers at that price taking the other side. [Read more...]

How to Pick Intraday Market Direction – The 80% Rule

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his Weekly Trading Tip.

Let me introduce you to one simple technique I've used to pick intraday market direction with 80% accuracy.

Would you like to know if a particular trade has an 80% probability of working? Would you like to know exactly where to enter that trade, and where to exit? Would you like to trade this technique with a 2 point stop loss or less? [Read more...]

Knowing your way around a chart

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple and straight-to-the-point.

If you like this article, Larry’s also agreed to give you free access to his weekly trading tip.

Today he’s going to talk about knowing your way around a chart.
For most traders, charts are like their road maps to potential trades. Technicians see potential patterns, key clues that they interpret for trading opportunities. Fundamentalists see confirmation of news stories or supply and demand dynamics playing out in the price fluctuations. Charts are indispensable to traders

Understanding what a chart is telling you is paramount for traders [Read more...]

Coming Back From a Loss

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his weekly trading tip.

A friend of mine in the pit had been having a rough time of late when he asked me a typical question among us traders - How do I come back from a loss? Since he had been having a "rough patch" and not just one bad trade, I gave him the following advice that is to be used over a period of time.

First I asked him, "What does your trading journal look like - or maybe you don't have one?"

He didn't think it was necessary, which was his first mistake. It is critical to keep a trading journal.

In my journal I ask myself everyday "Did I follow my trading plan properly? Did I do anything wrong and if so, why?" If I did follow my plan correctly but I lost money, I am not hard on myself. Sometimes this happens! If I didn't follow my rules but still made money, however, that's a problem.

I highlight these days so I never repeat this fatal flaw. One of the worst things you can do is ignore your rules and make money, because then you feel that "winging it" is a good plan. It is not.

If this happens, you have to ask yourself; "Why didn't I follow my rules?" Was it lack of confidence in the system? Fear? Or did my ego want to be the hero that sold the high?" [Read more...]

Avoiding Mental Sabotage

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his Weekly Trading Tip.

I have heard that 95% or more of all traders ultimately fail.

Have you ever wondered why?

Most traders will tell you it was the system or method they were using. They'll also tell you they had a few bad trades they couldn't recover from. Or their dog chewed through the telephone cord just as their computer crashed, and they couldn't get out of a losing trade. [Read more...]

Know Your Limits

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his Weekly Trading Tip.

One thing that I see that catches traders up all the time is knowing their limits. There are times when it is probably wiser to step away from a trade or not trade at all.

Sometimes the best favor you can do for yourself is to take a break.

It doesn't matter who you are or what kind of trading you do. There are going to be times when you need to step back and take a break from things. This can happen after a bad trade, a big loss, and even after a really good performance. It can help you get things back into perspective. It also allows for an opportunity for you to review your trades, and learn from any mistakes or plans that you think cost you in the long run.

It is easy for traders to get caught up in the action. [Read more...]

Candlestick Patterns – Harami

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his weekly trading tip.

I've already covered some of the better known patterns like Doji and Engulfing  – now it's time to add Harami to your candlestick chart pattern arsenal. Let's take a look at what this technical signal looks like, and what opportunities might be presenting themselves when you see it.

Harami patterns can be bearish or bullish

Harami, like engulfing patterns, are a two candlestick formation. They are actually often confused with engulfing patterns because they both involve candles where one real body is bigger than the other. The difference is that in harami, the preceding (or first) candle in the pattern is the longer one of the pair; it encompasses the whole body of the second candlestick. [Read more...]

Candlestick Patterns - Engulfing

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his weekly trading tip.

Candlestick charts have all kinds of potential patterns that technicians are watchful for. One of the easiest to spot is an engulfing pattern. This set-up consists of two candlesticks, one of which is “engulfing” the previous one. That means the body of the second candlestick is longer than the first one. It doesn’t have to extend beyond the wicks of that first candlestick, just the real body. period of time. [Read more...]

Candlesticks - Using the Doji

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his weekly trading tip.

On a candlestick chart, there is a pattern that technicians refer to as a doji. A doji has top and bottom shadows like a regular candlestick, but has practically no real body. This happens when the opening and closing price are the same, or so close that they just leave a sliver of a real body. A doji looks like a plus sign or cross. [Read more...]

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