Pro Trader 2 DAY 4

Question 1

what is significant about 10AM EST

Answer 1

reversal

Question 2

mid day doldrums significance

Question 3

215-230 significance

Answer 3

breakouts

Question 4

4 trader timezone considerations

Answer 4

1. trading during high liquidity time zones give you more price fill safety2. minimal trading during hte doldrums unless a solid set up presents itself3. watch out for higher volatility during the reversal time zones, opening and closing4. be very careful trading the gaps and during the opening rush.

Question 5

Momentum breakout trading is based on ______

Answer 5

taking trades in the direction of the trend and following the trend, after the trend has clearly been established

Question 6

Momentum breakout trading is “fractal,” meaning _______

Answer 6

it can be applied in any timeframe

Question 7

3 MBO Long strategies

Question 8

3 MBO short strategies

Question 9

MBO used for, positives, negatives

Answer 9

used for: joining strong trendspositives: can participate in a trade when retracements are only very modest.can participate in a trade after missing the turning pointnegatives: higher probability of being stopped out due to less precision of the stop location.insure to be slightly late in the move increasing risk and decreasing reward.may suffer some slippage

Question 10

A reserve or Iceberg order is when market participants ________

Answer 10

display only a portion of what they wish to buy or sell

Question 11

only by _____ can we truly understand their intentions

Answer 11

observing

Question 12

narrow range side ways trend. what OCO to use?

Answer 12

OCO Break outBuy/Sell STOPwaiting for trend to break out of range

Question 13

Large range side ways trend. what OCO to use?

Answer 13

OCO FADEBuy/Sell LIMITlooking to trade withing range

Question 14

down trend. what OCO to use?

Answer 14

OCO Fade Breakout SELLSell LIMIT /Sell STOPlooking to trade toward downtrend from bottom or top of range

Question 15

Up trend. what OCO to use?

Answer 15

OCO Breakout Fade BUYBuy LIMIT /Buy STOPlooking to trade toward uptrend from bottom or top of range