Jim Wyckoff The S&P 500 futures market is a trading arena unto itself, which can accommodate many different trading styles, according to Linda Bradford Raschke, a well known trader, lecturer and president of LBR Group, Inc.
The Andrews Pitchfork is yet another one of my “secondary” trading tools. My “primary” trading tools include basic trend lines and chart patterns, trader psychology and fundamental analysis. I use the secondary trading tools to help confirm what my primary trading tools may be telling me.
Achieving success in futures trading requires avoiding numerous pitfalls as much, or more, than it does seeking out and executing winning trades. In fact, most professional traders will tell you that it’s not any specific trading methodologies that make traders successful, but instead it’s the overall rules to which those traders strictly adhere that keep them “in the game” long enough to achieve success.
Jim Wyckoff The Percent Range (%R) technical indicator was developed by renowned futures author and trader Larry Williams. This system attempts to measure overbought and oversold market conditions. The %R always falls between a value of 100 and 0. There are two horizontal lines in the study that represent the 20% and 80% overbought and
Those who have read my features know I base the vast majority of my trading decisions on technical indicators and chart analysis–and also on market psychology. However, I do not ignore certain fundamentals that could impact the markets I’m trading. Neither should you.