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Is this the bottom?

fbo fvbo strategy Feb 15, 2021

First of all, I love seeing you all taking advantage of this market chaos and social distancing and the 50% discount off the Backtesting Mastery course. I believe without a shadow of a doubt that the Backtesting Mastery course is the best course for any trader, new or experienced, to get to the level of consistent profitability. It's a simple methodology that not many people understand how to implement.

The questions I'm already getting from traders is fantastic! Proud of you all!

On to the real business of figuring this market out. 

Yesterday I was talking to a trader who was asking me if I thought the FBO setup on the daily ES chart was a valid trade. He correctly noted that it was an FBO and not a FVBO, the distinction is important. 

Using 1% risk (which is way too high to be using in this market in my opinion) you would need to have a $200k USD account to purchase one E-MICRO, not the E-MINI. You would need a $2 million dollar account to do it with an E-mini....

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Fbo and VBO 2.0 for students

basics education fbo vbo Feb 15, 2021

I've been talking about the new VBO2.0 Strategy a bit lately, and I wanted to get it out to those of you who have purchased the Consistently Profitable Trader Course or the Systems Mastery Course!

I've only given this out to you all and the members of the Trading Lab

I hope you enjoy it

For Consistently Profitable Trader Students, click here for the link to yours

For Systems Mastery Students, click here for the link to yours

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Are we trending or breaking out in markets

fbo strategy vbo Feb 15, 2021

Leveling up in trading is hard to do. Mostly because the right things to be focusing on aren't that obvious. You would think that just finding a good trend and riding it to the very end, from the very beginning is all you have to do. Sound simple enough, right?

Except markets launch breakouts which FAIL 80% of the time, only 20% of the time do markets actually breakout and trend. So if you are always chasing breakouts, 80% of the time you will be getting stopped out.

This is what creates trading ranges, breakout traders jump in on the first breakout attempt only to have the trade turn around on you and drop back down into the trading range. 

What looks like a trading range is actually numerous attempts to breakout from the trading range.

Notice how many spikes above the range show a big reversal candle, with a big spike shadow/wick on the candlestick.

Here's a closer look

Since late August of this year the EURUSD has been breaking out above the trading range beautifully, only...

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