Session #1 - post lesson information bundle

Question 1

What is the major mistake most new traders make?

Answer 1

being to anxious to trade

Question 2

What should you do with every teaching and or strategy before you risk money on it?

Answer 2

make sure it pans out on a demo account

Question 3

A candle that has the body in the upper 50% of the total candle is what?

Answer 3

a signal candle

Question 4

What are signal candles used for?

Answer 4

to “signal” you that a trade opportunity may be shaping up

Question 5

What do you do after you find a signal candle?

Answer 5

create a horizontal “trigger” line just above

Question 6

The “_____ candle” is the candle in which we actually enter a trade.

Answer 6

entry

Question 7

Which candle is the one where you enter a trade?

Answer 7

entry

Question 8

When we enter a trade it will be in a candle that has not yet ______________.

Answer 8

completed (it’s still forming)

Question 9

When you enter a trade you will know you are entering a trade that has overwhelming odds in your favor and has been confirmed by __________.

Answer 9

indicators

Question 10

There will always be a ______ in the charts of everything that occurs.

Answer 10

record

Question 11

Check everything out on the Demo that you are learning with play money but treat that play money like it was real _______.

Answer 11

money

Question 12

The chart, the candles, the price movement, and everything on the DEMO is exactly the same as in ___________.

Answer 12

live trading

Question 13

Your fears, your actions, your decisions, and your trading discipline will change when you realize that your _______ is at stake.

Answer 13

money

Question 14

_______ requires quick decisions and quick analysis of the charts behavior.

Answer 14

Trading

Question 15

If you can’t consistently make money on a demo account, can you with a real account?

Answer 15

no

Question 16

How many hours of study and practice will it take to learn how to trade?

Answer 16

thousands

Question 17

Once you see that there is not going to be a trade setup as it looked like there was going to be, you will continue your ____ of the other charts until you come to another possibility.

Answer 17

scan

Question 18

How many trades at a time should you take?

Answer 18

one

Question 19

If you scan all six 5-minute timeframe charts, every 5 minutes, you will not miss any trades. True or false?

Answer 19

true

Question 20

We know there are lots of good trading opportunities to find. What is it that we don’t know?

Answer 20

how big a given trade will be

Question 21

After you learn the first trade, it will be harder to learn additional trades. True or false

Answer 21

false

Question 22

True or false: trading larger timeframes is easier

Answer 22

false

Question 23

I firmly believe the ___________ time frame is superior and much easier and in the end will equal or exceed the profits you can earn from any other trading plan.

Answer 23

five minute

Question 24

Every signal does not generate a trade that we will take. We only accept the __________.

Answer 24

best tuna

Question 25

If a potential trade set up fails to materialize then you will minimize that chart and start scanning all the other charts that I have set up for you. You will wait until you see a chart that shows the promise of a ______ trade setup forming.

Answer 25

great

Question 26

What is the name of the first trade we are learning?

Answer 26

blow off bottom

Question 27

True or false - For the BLOW OFF BOTTOM TRADES you need to pay very close attention to what constitutes a “signal candle” and the resulting “trigger line” that every “SIGNAL CANDLE” must have put in place.

Answer 27

true

Question 28

Is it true that you have to write in your trigger lines by yourself, that the software won't do it for you?

Answer 28

yes

Question 29

What color are signal candles?

Answer 29

green

Question 30

Do signal candles have the body in the upper half or lower half of the candle?

Answer 30

upper

Question 31

Do you take Blow off Bottom trades if the Bollinger Bands are not flat?

Answer 31

no

Question 32

If the Bollinger Bands are flat, do you take Blow off Bottom trades?

Answer 32

yes

Question 33

When the Bollinger Bands are flat, can you take a Blow off Bottom trade?

Answer 33

yes

Question 34

What color candle to you never buy on?

Answer 34

red

Question 35

What is the minimum spread between the upper and lower Bollinger bands, you should accept when entering a Blow of Bottom trade?

Answer 35

$80

Question 36

In general it is much better to take trades that are closer to the ________ Bollinger Band.

Answer 36

bottom

Question 37

You may have two or three trigger lines before you enter a ________.

Answer 37

trade

Question 38

How many Bollinger Band "must conditions " are there to meet before entering a trade?

Answer 38

3

Question 39

Which way must the bottom Bollinger Band be pointing: up, down or flat in order to be okay to enter a trade?

Answer 39

flat

Question 40

What are we talking about here..."The best trades will have both lines of this indicator entering the envelop of the buy zone."

Answer 40

Stochastic indicator

Question 41

If the Lower BB does not meet one of the 3 conditions, you should pass on taking this trade even if the price hits the trigger line above the ___________.

Answer 41

signal candle

Question 42

The farther from _____ the bottom Bollinger Band is the greater the risk and the lower percentage of success you will have with those trades.

Answer 42

flat

Question 43

Please be very selective. Anyone can buy at any time, but what are the risks? You want to take trades that have a vast overwhelming advantage in our favor approaching __%.

Answer 43

90

Question 44

Do you need agreement from the 15 minute timeframe in order to open a trade?

Answer 44

no

Question 45

What is the T Line?

Answer 45

find the answer

Question 46

true or false - Generally the CCI will be confirming a trade but we rely mostly upon the Stochastic Indicator.

Answer 46

true

Question 47

When the __________ are strongly against taking a trade we would be very smart to pay attention and delay our entry.

Answer 47

indicators

Question 48

The __________ may not always trigger a trade as quick but they definitely insure a smarter trade entry or exit.

Answer 48

indicators

Question 49

We do not want to be taking any trade where the indicators are saying a strong ___

Answer 49

no!

Question 50

true or false - Indicators will help us to stay in trades longer and resist the temptation to get out of a trade at a whim.

Answer 50

true

Question 51

The candle triggering the trade will always be ______ in a Blow Off Buy signal trade.

Answer 51

green

Question 52

When you see an enter buy trade, should you place your order quickly or should you doddle and take your time?

Answer 52

order quickly

Question 53

Place a stop loss __________ after you enter the trade

Answer 53

immediately

Question 54

Place a stop loss __________ after you enter the trade.

Answer 54

immediately

Question 55

Place your stop loss one or two ____ below the lowest candle or wick in the _________ area.

Answer 55

pips immediate

Question 56

How many pips below the lowest candle in the immediate area do you set your stop loss?

Answer 56

one or two

Question 57

How long should it take to place a stop loss order?

Answer 57

less than 30 seconds

Question 58

What is the first profit goal for the Blow off Bottom trade?

Answer 58

the middle Bollinger Band

Question 59

Stay in the trade until it reaches this first goal no matter if you see red candles, pullbacks, retracements, etc. The price will not normally go in a straight line to the ______ Bollinger Band but will go in a zig zag saw tooth motions.

Answer 59

middle

Question 60

Pullbacks are very normal. Every 2 or 3 candles almost always will have a ________ also called a correction or a retracement.

Answer 60

pullback

Question 61

We do not exit at pullbacks because we have a ____ ____ in place below the lowest candle or wick in the immediate area of our trade.

Answer 61

stop loss

Question 62

I know that first goal may be the end of this trade but I wait for ____ _______.

Answer 62

exit signals

Question 63

What is the most difficult part of trading?

Answer 63

exiting a trade

Question 64

What do we do if the price immediatly reverses and begins to pull away from the middle Bollinger Band?

Answer 64

exit the trade

Question 65

Can the 15 minute timeframe help us get a better fix on when to exit a Blow off Bottom trade?

Answer 65

yes