Blog
  • Register

The Pattern Trapper Blog

This is some blog description about this site

Follow-Up to March Silver Trading for Friday, November 30

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

 

I received a few e-mails asking me to critique what had gone "wrong" with the directional implication of Friday's March Silver Market Report, so I thought I would write a few short paragraphs about market expectations and developing a trading plan based on those expectations, using Friday's Report as an example. The trading concepts discussed below are a critical component of the Pattern Trapper On-Line Course. Please review the course description area for more detail. Click Here!

 

In a nutshell, experienced traders approach market expectations not in terms of being "right" or "wrong", but, rather, as a way of understanding where the odds lie, and developing a trading plan based on those odds. In regards to Friday's Report, Pattern Signal firings told us that the odds favored higher prices in March Silver. We were never triggered into that long because the prior day 34.490 level mentioned in that report was never breached. Instead, we had a test and failure of that level, which suggested that the odds were shifting to the downside. Price hovered around the 34.177 Daily Pivot for a while, but then broke down in quick fashion, telling us to get on the short side.

 

No one is going to be able to offer you a crystal ball for your trading. The best that a trader can do is to educate yourself so that you know how to interpret where the odds lie, and then develop a trading plan based on those odds, and also a contingency plan in case those odds don't play out as expected. Pattern Signal firings have some very high odds for follow-through. But when those odds don't develop as expected, the market is often telling us that it is about to do the opposite. Traders need to understand that, stay flexible, and LISTEN to what the market is trying to tell you.

 

Often, when Pattern Signal firings demonstrate high odds for a particular directional move, the market's inability to follow-through on that move by breaking a significant level of support or resistance is signaling that it is setting up to do the exact opposite. (i.e., in the case of Silver our significance level of resistance was that along the 34.490 level of the prior day high, which again, was never breached).

 

Please refer to the chart below for a review of the way the day developed, and how our expectations changed based on what the market was telling us. Again, for further details on how to develop such an approach to trading, please refer to the Pattern Trapper On-Line Course. Mention this post when ordering by phone and get a 20% discount.

 

Register to get these forecasts delivered directly to your in-box at www.PatternTrapper.com.


March Silver Trading for Friday, November 30
Lean Hogs Trading for Tuesday, December 4

Testimonial

"I have found your service to not only be accurate but extremely educational. It is the perfect tool to use to create a winning game plan. All material is presented clearly and backed up with detailed explanations of the methodology being used.

In my ten years as a professional trader I've learned that there's no magic "system" but the tools taught in the Pattern Trapper combined with hard work will give you the "edge" that every trader desires."

Phil Telpner
Chicago, Illinois

Testimonial

"This is a rare gem of a course. Throughout you get the undeniable feeling of being guided by someone who possesses great learning, maturity and experience. This is the first time that I have felt I have truly got my money's worth (and more) on any course. Thank you. You have my greatest respect."

Khushiram Lalchand
Cambridge, United Kingdom

Testimonial

"I've taken a number of trading courses and seminars over the years, and have still managed to make all the classic mistakes and consistently lost money. But in the Pattern Trapper I found the one thing that had been missing from all of my previous trading efforts....Structure!  It is a completely new revelation to me, and it is at the core of your teachings. Nowhere else have I seen such a simple, logical blueprint for creating and implementing a consistent trading plan."

Richard Roe,
Oakland Park, Florida

Testimonial

"Over the last three years I've taken many weekend courses given by numerous self-proclaimed experts. The information offered in the Pattern Trapper was found to be far superior. For the first time I see the same underlying structure in the market as the professional floor trader sees. Your course is well worth the price, and, I might add, well worth the time spent."

Jim Nobles MD
Baton Rouge, LA

Testimonial

"You've done many of us a tremendous service by synthesizing so much material and years of experience into such a structured methodology for approaching the markets."

Paul Gikas
Athens, Greece

Testimonial

"You've probably heard it hundreds of times but... I am really enjoying your course! The way you present it enables me to grasp the concepts quickly. My first run through the entire course will be complete this weekend. I'm excited to watch the markets next week from an entirely different viewpoint!"

Mark C.
Columbus, Ohio

Testimonial

"This is perfect for day-trading because it offers a way of arriving at entry and exit points that make sense. As former Education Director at Lind-Waldock I can't think of one person who asked for a refund after taking the course. Call me for a personal consultation on how you can incorporate the Pattern Trapper into your current trading strategy: 312-399-1851."

Neal Weintraub - author of Tricks Of The Active Trader and Trading Chicago Style

Testimonial

"After 30 plus years of successful trading, why on earth would I take The Pattern Trapper trading course? After so many years it's so easy to get a bit lazy, take shortcuts and thereby get a bit careless now and then. I heard from other professional traders that I should take a look at Pattern Trapper and I am so glad I did.

For the professional, Pattern Trapper is a refresher course for trading with discipline. I am back to doing what made me successful and I thank your course and service for that. Pattern Trapper is now part of my daily routine and we all know that routine is so very important in trading consistently.

For those who want to learn the methods and discipline of trading, I recommend the Pattern Trapper as a worthwhile addition to your daily routine."

Manning Stoller
Active trader since 1968 and an original advisor to the Commodity Futures Trading Commission.

S5 Box

Course Login