Institutional Support & Resistances with Entries & Exits
Saturday, January 11, 2014 08:30 MST » 10:30 EST
Our guest speaker for the January 11th Denver Trading Group meeting is Manesh Patel. Manesh has his headquarters in Atlanta, Georgia. His presentation will cover the following three sessions:
The purpose of an indicator is to determine key support/resistance values. Once these values are determined you can enter a trade. If a trader does not choose the institutional support/resistances they will lose and are subject to huge risks. In this session you will learn how to recognize these key values within seconds. Through the use of multiple time frame analysis, we will verify if these values are institutional or not. Something that users cannot do with moving averages, fibonacci and other indicators.
In this session we will be providing the trading plan for the Ichimoku High Probability strategy. Here are the advantages of this strategy and indicator:
- Determine within 1 second if the instrument is bullish, bearish, or consolidation.
- Determine within 2 seconds where the exact entry, the exact stop, and the exact price where profits should be protected.
- Minimum of a 3:1 reward/risk ratio.
- Enter at the beginning of an institutional wave
- Pull back or breakout entries can be used
- Purely visual instead of mathematical.
To achieve consistent profits a system has to provide a minimum of a 3:1 reward/ratio. Without this reward/risk ratio the losers can over take the winners. Most traders,determine reward/risk once they enter a trade. As a result they waste a lot of time entering and exiting a lot of trades. In this session we will be illustrating how to determine the min.imum reward/risk ratio when the order is placed, prior to entering the trade. If the trader cannot see the possibility of a 3:1 reward/risk ratio they will not place the trade. This will allow the trader to concentrate their time on true trending opportunities.
About Our Speaker
Manesh Patel is a professional trader, speaker and founder of Ichimokutrade.com. He has built black box trading modules and worked for institutions on equity and currency trading desks. He has a Series 3 License and operated as a CTA (Commodity Trading Advisor).
Manesh is an expert on "Ichimoku Clouds" and has authored the book "Trading with Ichimoku Clouds" by John Wiley & Sons.
Manesh has presented at various locations worldwide including The International Traders EXPO, The Australian Technical Analysts Association Annual Conference, The Quinnipiac G.A.M.E. Forum and many others.
If you live near Denver, don't miss this interesting educational forum at the upcoming January 11th Denver Trading Group meeting.
Amount of historical data varies from 30 days to 14 years depending on the membership you choose.