Boomerang Trader

Boomerang’s response to Thursday’s market volatility

Posted on 20. Aug, 2010 by Mohan in Boomerang Scalp Trader

Good morning.

A quick report here on how Boomerang and the rules shown in our trading manual responded to Thursday’s downside hammering.

First, if you had been following Mohan’s Daily Directional Forecast you would have been alerted that Thursday was a “wild card” and to watch how prices responded to the Opening.

If prices were below the Opening and the tape bias reading had turned bearish then watch for a whip saw lower move….that was Mohan’s advice.

Using Boomerang Scalp Trader along with the essential “Trade Bias Selector” which is Mohan’s latest (and probably only) necessary add on to Boomerang.

The TBS is so good that practically speaking I want to give you an amazing trading tip to succeed in the markets.  First, simply learn to read the tape bias. Its not hard and our trading manual explains it fully and how to get setup. Go pro if you want to win in trading.  Hang on to  the mentality of “winging it” and you will lose…guaranteed.

Next simply trade using the Trade Bias Selector when it matches the tape bias (or at least does not conflict with it). Enter when the TBS crosses the Zero line and changes color . Scalp for 2 points (or more if the tape bias is strong like Thursday).  Thats it. If you have 2 winners in a row be cautious on the next trade. 3 winners in a row, stop for the day no matter what. Use mental discipline always….the most important ingredient of trading even beyond methodology.

Just go back and look at 20 charts with Boomerang and TBS on them. You’ll see this clearly.

My suggestion is not to waste a lot of money endlessly searching all these expensive systems and complicated methods when the method I just described to you will keep you on the right side everyday in trading if you practice and learn.

If you add all the additional and crystal clear readings Boomerang Scalp Trader gives you then you will have the Boomerang Bias Bars, Trailblazer and Boom bias line to line up with the Force Index. Change the Force Index line to bars as shown on the charts below and thicken up the TBS line and histogram bars for clearer readings.

Don’t complicate your charts….this is all you need along with Skill!  How to get skill and experience?  Well, practice every night after the market closes on your simulator on a minimum of 5 different ES charts and then during live action. Don’t trade real money right away. Wait!  learn some skill first. No big deal. You have time to not waste money.

Too complicated you say?  Then please stop trading and go find some other work. This business is not for lazy fellows who do not want to excel bad enough.  There are plenty of other businesses out there. Trading requires skill, experience and the precision, highly accurate tools.  We supply the tools and the simple methods here at Boomerang. We are here for you but it is important to tell you the truth so you can genuinely succeed at this difficult business.

Here are Thursday’s charts. Do you see the crystal clear patterns?  You have to develop the skill and the guts to read those patterns and put on those trades as they are devleoping.  You then have to be 100% willing to get stopped out and be able to afford doing that. Again, if you are trading on a shoestring, you may need to wait a while and build resources. Good advice from a trading friend.  No Money…No honey.  Also: my favorite I say to myself ON EVERY TRADE I ENTER….”No Guts…No Glory”.

Tags: day trading, e-mini, emini, indicator, S&P 500, scalping