PRECISION SWING TRADINGAFTA SIG

MAY 25, 2013

with Frank Ochoa

Swing Trade Pro
PART I: PART II: PART III:
FOUNDATIONAL SWING TRADE AND
SWING TRADING RISK
TRADING SETUPS AND MANAGEMEN
CONCEPTS ENTRY T
Four Market Phases TECHNIQUES
Understanding Value Forecasting Accurate Targets
The Importance of
Identifying Value Opportunities Trade Location Scaling and Trailing Techniques
Pivot-Based Moving Averages Pro-Style Entry Techniques Defining Trade Risk
Pivot Range Analysis Intraday Entry Techniques 5 Rules of Risk Management
Volume-Weighted Average Price Indicator-Based Setups Proper Position Sizing
Candlestick Setups Defining Portfolio Risk
Range-Based Setups
the Four Market
Phases
Four Market Phases
The Four Market Phases were pioneered by Richard D.
Wyckoff and help to provide understanding of the various price
cycles, which allows for better market timing.

FOUR MARKET • Gives traders a “heads-up” on the

PHASES: potential upcoming market phase

1. • Allows you to anticipate, and prepare

ACCUMULATION for, upcoming price movement

2. DISTRIBUTION • Traders that can recognize market

phases are able to identify the best
3. MARKUP profit-making opportunities

4. MARKDOWN • Tailor your approach to the phase

Four Market Phases
3. Distribution

Re-Distribution
Re-Accumulation
4. Markdown

2. Markup
Accumulation

1. Accumulation
Best Times to Trade

Oftentimes the safest or best

times to trade are during the
Markup and Markdown phases

Markup

Markdown
Markup

These phases offer highly

confirmed unidirectional
trending price movement
Accumulation
The Accumulation phase occurs when institutional investors begin
buying up substantial supply of a given stock, which creates
compression, and usually leads to a Markup phase.

• Institutions buy large amounts of stock Contraction

over long periods of time, so as not to before
drive up the price Expansion

• A large trading range, or base, develops

as Institutions build their position

• Recognizing the Accumulation phase

gives insight into future opportunity

• Wyckoff: believes this phase is the

“force” behind the upcoming move
Accumulation is Fuel
The Accumulation phase should be
seen as a “necessity” in order for an
established Markup phase to
develop; the bigger the Accum, the
bigger the Markup

Once in the Markup phase,

every pull-back becomes a
high probability value
opportunity
Markup
The Markup phase occurs after a period of Accumulation, and
usually leads to a sustained, trending move. This phase provides
the BEST opportunity for trading.

• Price breaks out of the Accumulation Expansion

phase, and begins trending higher after
Contraction
• The big money bought during the
Accum phase, now retail money joins in

• This is the most profitable time to buy,

and also the “safest” time to buy

• Wyckoff: believes this phase is the

direct result of the Accumulation phase
Best Trading Opps

Many techniques and tools can be used to

identify pull-back opportunities, like moving
averages, VWAP, candlestick setups, and more!
Distribution
The Distribution phase occurs when institutional investors begin
slowly liquidating (selling) their inventory of a given stock, thus
creating compression, which typically precedes the Markdown
phase.

• Institutions begin selling large amounts of

stock over long periods of time, so as not to
disturb price

• A large trading range develops, as Institutions

liquidate their position

• Recognizing the Distribution phase gives

insight into future opportunity
Contraction
• Wyckoff: believes this phase is the “force” before
behind the upcoming move Expansion
Distribution

While the Distribution phase can be

tricky to decipher (from Accumulation), a
series of lower highs are usually a “tell”
Markdown
The Markdown phase occurs after a period of Distribution, and
usually leads to a sustained, trending move. This phase provides
the BEST opportunity for trading.

• Price breaks out of the Distribution phase,

and begins trending lower

• The big money sold during the Distribution

phase, now retail money joins in

• This is the most profitable time to sell short,

and also the “safest” time to sell
Expansion
• Wyckoff: believes this phase is the direct after
result of the Distribution phase Contraction
Markdown

Do you need a setup to trade this?

No, you just need an understanding
of market structure and value
Identifying value
opportunities
PROFESSIONALS
UNDERSTAND VALUE
Professionals rely upon their ability to identify value opportunities, and
exercise discipline to only trade when good value is present.

• Quickly and accurately determining value

directly affects profitability

• Patience and discipline are the keys to

consistently trading value opportunities

• Requiring good value for EVERY trade

dramatically improves odds for success

• Trading value reduces risk and maximizes

the potential gain
TOOLS OF THE TRADE
Identifying value opportunities can be quite easy,
especially when using the right tools in the right way.

PEMA PIVOT VWAP

Pivot-Based Exponential RANGE Volume-Weighted
Average Price is a
Moving Averages visually
The Pivot Range reveals classic indicator that
reveal value
a value area each month, clearly reveals a real-
opportunities during
which is used to identify time value line
trending markets
value opportunities
•Simple, semi-accessible
•Simple; accessible
•Simple, accessible •VWAP offers a real-time
•Multiple moving
•Pivot range trend and view of value, and
averages easily identify
width analysis can help over/undervalued price
the trend, and its value
identify great value and levels are easily
opportunities
breakout opportunities identified
•“Stacked & sloped”
•“Buy dips, and sell rips” •“Buy dips, and sell rips”
offers the best way to
at the pivot range during at VWAP during a
use this method
trending markets trending market
TOOLS OF THE TRADE

During the Markup phase, every Premium

pull-back to the 1st and 2nd levels
of the PEMAs offers great value
opportunities

Discount
Accumulation
MAs are stacked &
sloped, meaning they are
all trending higher in
unison
TOOLS OF THE TRADE

During the Markup phase, every test at

the Pivot Range is the market testing
prior value; if buyers defend value, then
another wave of strength occurs

Accumulation
Price finds support at the
Pivot Range during a
trending market
TOOLS OF THE TRADE

During the Markup phase, price will “test”

VWAP to reaffirm direction, which usually
welcomes responsive buyers that are eager
to buy at a discount

Accumulation
Pull-backs to VWAP during
a strong Markup phase offer
great value opportunities
setups
PEMA PULL-BACK
The PEMA Pull-Back setup is used to identify value opportunities
during trending markets using pivot-based moving averages.

Buy and Sell pull-backs only within

established Markup or Markdown phases
PEMA
L: 13/34/55
PULL-BACK M: 13/21/34
Finds value opportunities H: 8/13/21
during the Markup and
Markdown phases
•Value opportunity setup
•Trend-confirmed setup
•Only trade when moving
averages are “stacked and
sloped” 13
•Trade during Markup and Can use all entry types:
Markdown phases 34 OR Breakout, OR/VA Reversal,
55 Ambush, Retest, or Threshold
PEMA PB EXAMPLE

The “safest” way to get great trade location

is to allow price to test your trigger zone
before placing an entry; a successful test is
the “all clear” to negotiate your entry
LMT

Place a Retest entry

at the center of this
wick
PEMA PB EXAMPLE

A reversal candlestick
that forms after a test
indicates the market
will likely defend that
level
LMT

Place a Retest entry

at the center of this
wick
VWAP PULL-BACK
The VWAP Pull-Back setup is used to identify value opportunities
during trending markets using Volume-Weighted Average Price.

VWAP Buy and Sell pull-backs only within

established Markup or Markdown phases
PULL-
BACK
Finds value opportunities
during the Markup and
Markdown phases
•Value opportunity setup
•Trend-confirmed setup
•Only trade when VWAP Use the Retest or Ambush
is moving higher/lower entry techniques as close to
VWAP
•Trade during Markup VWAP as possible (or lower)
and Markdown phases
VWAP PB EXAMPLE

A healthy advance usually precedes a

pull-back opportunity; this allows traders LMT
that missed the train to join the ride

Enter on the 3rd bar

after the gap by
placing a Retest
entry at the center of
the prior candlestick.
VWAP PB EXAMPLE

You don’t have to be a hero placing

Ambush entries; instead, allow price to
test your trigger level, then place an
entry using the “test” info

LMT

Best case scenario: a reversal

candlestick forms after testing VWAP;
place your Retest entry at the center of
the wick
HIGHER/LOWER VALUE
The Higher and Lower Value setups help identify value
opportunities during the Markup and Markdown phases.
Pivot Range must be completely higher,
HIGHER/Lo and prior month’s close and current month’s
open must be above current month’s Pivot
wer Range
VALUE
Finds value opportunities
during the Markup and
Markdown phases
•Value opportunity setup
•Trend confirmed setup
•Current PR must be Allow price to test the
completely higher or lower
than prior month’s Value Area, then use a
•Trade during Markup and Retest entry trigger or
Markdown phases intraday entry technique
LOWER VALUE EXAMPLE

LMT

LMT

Always try to get the best trade

location, even if it costs you an entry
HIGHER VALUE ENTRIES

There are many ways to enter a trade; use the entry

that provides the best trade location and makes the
most sense for the scenario
importance of
trade location
THE MARKET IS A MARKET
While traders often call it “The Market”, many fail to realize that it is
indeed a market. Trading is a game of inches, and every tick counts.

• We’ve become accustomed to paying

“fixed” prices for our goods

• However, the Stock Market is a real

market, without fixed pricing

• Just as you would negotiate price at a

farmer’s market or artisan market, you
should negotiate your pricing in the Stock
Market, as well

• Every tick saved adds up over time,

thereby increasing your profitability
IT’S AN AUCTION
Negotiate your trade like you’re bidding at an auction. Be
picky, bid low and always try to get the best price possible.

• Novice traders routinely enter a trade and watch price go

immediately against them

• Instead, let price “go against you” before you enter the trade

• Never rush to enter a trade; sitting on your hands is an option

• Bid low, and patiently allow price to come to you

• Pro traders bid low, and aren’t always filled

• But when they are filled, they’re typically great entries

ALL ABOUT LOCATION
The secret to making more money out of each trade is...
TRADE LOCATION! Make money on the “front end” of the
trade.
• Better entries (Trade Location) means
more profit potential

• Better entries means less risk

• Less risk means smaller losses

• Negotiating your entry (with Limit Orders)

eliminates slippage

• Defining your trade location requires

discipline; discipline leads to profitable
trading
NEGOTIATE THE ENTRY

A bullish Outside Day setup develops;

rather than enter at the open of the
next session, place a buy Limit at the
LMT
midpoint of the candle ($32.70)

H: 33.12
L: 32.28
M: 32.70
EXECUTION

Novice
traders
Next day’s Open is $33.19, while our
fill here
entry is $32.70. Made 49 ticks on the
“front end” of the trade (+1.5%)

LMT

Pro traders filled

here: $32.70; 9
ticks from the low
NEGOTIATE THE ENTRY

Bullish gap from an Accumulation phase; rather

than enter upon a break of the recent high, place a LMT
buy Limit at the midpoint of the candle ($19.30)

H: 19.50
L: 19.10
M: 19.30
EXECUTION

Instead of entering upon a new high,

we filled at $19.30. Gained 20 ticks
Most
on the trade’s “front end” (+1.0%)
traders fill
here

LMT

Limit Filled:
$19.30;
2 ticks from the
low
pro-style entry
techniques
PRO-STYLE ENTRY
TECHNIQUES
Pro-Style entry techniques provide a solid approach to
consistently triggering great entries in any timeframe.

• They force you to be disciplined

• They help create more profit potential;

make money on “front end”

• They reduce slippage and risk

• They provide reliable ways to trigger

entries in any timeframe and any type
of setup or opportunity
PRO-STYLE ENTRY
TECHNIQUES
AMBUSH RETEST
THRESHOLD
ENTRY ENTRY ENTRY
Placing a Limit Order at a
Placing a Limit Order at a Placing a Stop Market order
level where price recently
level where price has yet to beyond a recent high or low
traded
trade
•Med risk factor •Lower risk factor
•High risk factor •Triggers upon a Breakout
•Triggers upon a Reversal
•Triggers upon a Reversal •Forces you to practice
•Forces you to practice
•Must have high confidence discipline and patience
discipline and patience
factor to use this entry •Set SM order beyond a
•Set Limit order toward the
•Best used at high confluence recent high/low, or beyond
center of the prior candlestick
zones, or established supp/resis
or wick
supp/resis
•PivotBoss Preferred
THE RETEST ENTRY
Pros deploy the Retest Entry by placing a Limit Order at a
level where price has recently traded, in an effort to attain
better trade location.

RETEST
ENTRY
Placing a Limit Order at a
level where price recently
traded
•Med risk factor
•Triggers upon a Reversal
•Forces you to practice
discipline and patience
•Set Limit order toward the Let price test an area of established
center of the prior candlestick support or confluence, then place a
or wick buy Limit order toward the center of
•PivotBoss Preferred the “testing” candlestick or wick
RETEST EXAMPLE

LMT

Let the signal bar fully develop;

then set retest Buy Limit at the
center of the signal bar
RETEST EXAMPLE

There’s no magic formula or secret recipe;

the point is to always try to attain better
trade location, even if it’s by a few ticks

LMT

You can also set the retest Buy Limit

at the midway point of the prior wick
INTRADAY ENTRY
TECHNIQUES
Intraday entry techniques provide a systematic approach to entering
trades, regardless of which timeframe the setup originates.

• Allow for additional confirmation; provide

one last “step” before entry

• Can be used when an opportunity exists,

but direction remains unknown

• Provide a structured approach to entering

trades; consistency

• Can also be used as intraday “setups”;

setup within a setup
INTRADAY ENTRY
TECHNIQUES
Opening
Range
BREAKOUT
Placing a Stop Market Order
beyond the 30-min OR high
(buy) or low (sell)
•Lower risk factor
•Triggers upon a Breakout
•Regarded as “safe”;
confirmed entry
•30-min Opening Range is
standard, but 15-min and 60-
min also used
Opening
Range
Reversal
Placing a Limit Order at the
30-min OR low (to buy) or
high (to sell)
•Med risk factor
•Triggers upon a Reversal
•Trickier entry, but creates
more profit potential
•30-min Opening Range is
standard, but 15-min and 60-
min also used
Value Area
Reversal
Placing a Limit Order order
within the Value Area for a
reversal entry
•Med risk factor
•Triggers upon a Reversal
•Trickier entry, but helps
create more profit potential
•Must be Higher/Lower Value
relationship; triggers inside
the range
VA REVERSAL ENTRY
Pros use the VA Reversal entry to time intraday entries for higher
timeframe trading opportunities, which offers better trade location.

Pivot Range must be completely higher,

Value Area and prior day’s close and current day’s open
must be above current day’s Pivot Range
Reversal
Placing a Limit Order order
within the Value Area for a
reversal entry
•Med risk factor
•Triggers upon a Reversal
•Trickier entry, but helps
create more profit potential
•Must be Higher/Lower Value
relationship; triggers inside Allow price to test the
the range day’s Value Area, then use
a Retest entry trigger
VA REVERSAL RULES

Ideal Rules for Entry:

1. Current pivot range is
completely above prior day’s
2. Prior day’s close is above
next day’s pivot range
3. Current day’s open is above 3
the pivot range
4. Use any Pro-style entry 2 4

1
VALUE AREA REVERSAL
STRUCTURE
The goal is to enter anywhere
within the value area during a
retest of the prior day’s range

Buy the Dips

The shaded areas show

when the market is
retesting the prior day’s
price range before new
price discovery occurs
VALUE AREA REVERSAL
STRUCTURE
Visualize the intraday
movement within a daily bar
structure

Your goal is to buy

within the “wick” of the
upcoming day
VA REVERSAL EXAMPLE

Daily Bar overlay

Intraday
Inside Value
setup

Get great trade location

by triggering entries
within the pivot range
VA REVERSAL EXAMPLE

After direction is confirmed,

use a VA Reversal entry to get
great trade location
*

Inside Day
w/breakout

* The goal is to enter Short upon

the wick of the upcoming candlestick
VA REVERSAL EXAMPLE

The goal is to enter anywhere

within the value area
Lower Value

The Pivot Range visually represents value in the

chart; triggering within this zone offers great trade
location during a trending market
 forecasting
accurate targets
FORECASTING TARGETS
The PivotBoss approach to taking profits relies upon forecasting targets
based on average price movement and utilizing actual profit targets.

• Average price movement provides a

price-based method to forecasting targets

• Trading to high-probability targets yields

consistent results

• Using profit targets allows you to more

easily incorporate risk management
measures

• Trading to profit targets is the PivotBoss

preferred approach
PRO-STYLE TECHNIQUES
FOR TARGET FORECASTING
ADR SWING
TARGETS
Utilizes multiple-day ranges
to forecast reliable targets
•Simple; effective
•Can be used for any style of
trading and in any timeframe
•Price-based; self-adjusts to
current volatility
•Success rates over 70%
ADR
WEEKLY
TARGETS
Utilizes weekly price range to
forecast reliable targets
•Simple; effective
•Great for swing trading and
range forecasting
•Price-based; self-adjusts to
current volatility
•Uses average weekly ranges
for targets
ADR SWING TARGETS
ADR Swing Targets use average price movement and multiple-day
ranges in order to forecast reliable and accurate targets.

ADR SWING TARGETS

ADR SWING
TGT
TARGETS
Utilizes multiple-day ranges
to forecast reliable targets
•Simple; effective +aMDR
•Can be used for any style of
trading and in any timeframe
•Price-based; self-adjusts to FDL
current volatility
•Success rates over 70%
WHAT IS THE
ADR METHOD?
The ADR Method is a simple, yet powerful, method used for forecasting
targets using average price range in any timeframe.

• Helps you forecast targets with a high

degree of accuracy (>70%!)

• Auto-adjusts to current market volatility

and behavior

• Simple; effective - and it works!

• The Real-Time and Swing Editions of

The ADR Method teach the entire
methodology
WHY SHOULD YOU
USE ADR TARGETS?
Average Daily Range has been used by professionals for years, because it
provides a price-based approach that relies on current price behavior.

• Provides a simple, price-based approach that incorporates

recent price behavior
• Self-adjusts to current volatility
• Helps provide reasonable price range expectations for the
upcoming period of time
• Allows you to easily forecast bull and bear targets,
regardless of timeframe
• Allows you to anticipate market behavior, including
breakouts (expansion) and range markets (compression)
MULTIPLE DAY RANGES
A Multiple Day Range (MDR) uses the highest high and the lowest low
over a given number of days to identify the range.

• The highest high minus the lowest

low over a given number of days

• The MDR, and its average, is used

to identify great swing targets

• The ADR Method primarily uses a 3-

and 5-day calculation, but other
periodicities can be used, like a 10-
day
NORMAL
The Normal calculation projects the average MDR higher from the
First Day Low (FDL), and lower from the First Day High (FDH).

The Normal calculation projects

100% of the Avg MDR
NORMAL
TGT
CALCULATION
Projects Avg MDR higher from the
FDL, and lower from FDH
•Uses 100% of Avg MDR +aMDR
•BULL: FDL + Avg MDR
•BEAR: FDH - Avg MDR
•Accuracy of ~45% FDL
•Use as a secondary target
•Use 3-, 5-, and 10-day ranges
Great secondary target, and also
helps to forecast future price range
NORMAL APPLIED

Normal Bull: FDL + aMDR

Bull:
Normal Bull: 32.17 + 1.63
$33.80

Entry:
L: $32.36
$32.17

10-day MDR =
1.63
NORMAL LITE
The Normal Lite calculation projects 75% of average MDR higher from
the First Day Low (FDL), and lower from the First Day High (FDH).

The Normal Lite calculation

projects 75% of the Avg MDR
NORMAL LITE
CALCULATION TGT
Projects 75% of Avg MDR higher
from the FDL, and lower from FDH
•Uses 75% of Avg MDR +aMDR
•BULL: FDL + (Avg MDR x .75) x .75
•BEAR: FDH - (Avg MDR x .75)
•Accuracy of ~70% FDL
•Use as the primary target
•Use 3-, 5-, and 10-day ranges
Great primary target, with a success
rate of over 70%
NORMAL LITE APPLIED

Normal Lite Bull: FDL + (aMDR x .75)

Normal Bull Lite: 32.17 + (1.63 x .75)
NL Bull:
$33.39

Entry:
L: $32.36
$32.17

10-day MDR =
1.63
ADR WEEKLY TARGETS
ADR Weekly Targets use Average Weekly Range (AWR) in order to
forecast reliable and accurate targets on a week by week basis.

ADR ADR WEEKLY

WEEKLY TARGETS
TARGETS
Utilizes weekly price range to
forecast reliable targets
+AWR
•Simple; effective
•Great for swing trading and
range forecasting
•Price-based; self-adjusts to WL
current volatility
•Uses average weekly ranges
for targets
AVERAGE WEEKLY RANGE
Average Weekly Range (AWR) is calculated exactly like
Average Daily Range, but uses weekly bars instead.

• Weekly range refers to the High

minus the Low of the week

• AWR refers to averaging the

weekly ranges over a string of
weeks/months

• A 5- or 10-period calculation
works best, as it includes the most
recent price behavior
AWR FORECASTING
AND TARGETS
Like MDRs, AWR helps temper expectations for price range and
provides a price-based method for forecasting targets for the week.

• Use AWR to forecast potential price

extremes for the upcoming week

• Identifying the potential price range for a

given week helps to manage price range
expectations

• Projecting targets from Monday’s high/low

provides solid targets for the week

• Using a confirmed high or low for the week

helps to pinpoint the best targets
BASE CALCULATIONS
The base calculations for forecasting with Average Weekly Range are
consistent with all other ADR Method calculations.

INITIAL Base TARGET

FORECAST CALCULATIONS
Projects AWR higher and lower from the The standard Normal and Normal Lite
prior week’s closing price base calculations are used for targets
•Uses 100% of AWR •Normal [uses 100% of AWR]
•BULL: PWC + AWR • BULL: WL + AWR
•BEAR: PWC - AWR • BEAR: WH - AWR
•Used to determine range expectations for •Normal Lite [uses 75% of AWR]
the next week • BULL: WL + (AWR x .75)
•Average price range suggests that price • BEAR: WH - (AWR x .75)
should remain within the projected range
during the week
THE INITIAL FORECAST

Bull: PWC + AWR = 38.04

T: $38.04
Bear: PWC - AWR = 34.04

AWR = 2.00

PWC: $36.04

The Initial Forecast is designed

to give you the estimated price
range for the upcoming week B: $34.04
ADR WEEKLY TARGETS

N Bull: WL + AWR
NL Bull: WL + (AWR x .75) N: $37.86
NL Bear: WH - (AWR x .75)
N Bear: WH - AWR NL: $37.36

AWR = 2.00
H: $36.37

L: $35.86

Use Mon’s H/L to forecast NL: $34.87

Weekly targets; update the N: $34.37
targets should a new H/L
form
ADR WEEKLY TARGETS

N Bull: WL + AWR
NL Bull: WL + (AWR x .75) N: $37.86
NL Bear: WH - (AWR x .75)
N Bear: WH - AWR NL: $37.36

AWR = 2.00
H: $36.37

L: $35.86

N: $34.87
Price traded right into our N: $34.37
forecasted bull targets
ADR WEEKLY TARGETS

The Initial Forecast gave us a

great starting point for identifying N: $37.86
the week’s potential price range
NL: $37.36

N: $34.87
N: $34.37
FREE TRADE TECHNIQUE
The Free Trade Technique is a 2-part scaling technique that allows you
to position yourself with a risk-free trade after an initial favorable move.

• A conservative 2-part scaling

technique; defensive approach
• Allows you to eliminate risk from
your trade after an initial favorable
move
• Allows you to “dip your toe” into the
trading waters
• Allows you to proceed with caution
during volatile markets
FREE TRADE
TECHNIQUE
An easy scaling technique that helps position
yourself for a risk-free trade
•Calculate your risk on the trade (Entry price -
Stop Loss price)
•Project this amount higher from your entry
price (Free Trade Zone)
•When price reaches your FTZ, sell half of
your position
•Leave your original stop for the last half of
your position
•You now have a free trade; you lose no
money if you are stopped out
FREE TRADE EXAMPLES

EXAMPLE 1
Learn 1. Risk Per Share: $1.50 (Entry Price - Stop Loss Price)
2. Free Trade Zone: $42.50 (Entry of $41 + $1.50)
to trade... 3. Sell Half: Sell 1/2 the position at $42.50
4. Keep Half: Let 1/2 ride with original stop loss of $39.50

EXAMPLE 2
...with house
1. Risk Per Share: $0.75 (Entry Price - Stop Loss Price)
money 2. Free Trade Zone: $22.50 (Entry of $21.75 + $0.75)
3. Sell Half: Sell 1/2 the position at $22.50
4. Keep Half: Let 1/2 ride with original stop loss of $21.00
FREE TRADE EXAMPLE

ADR (10): 1.91

ADR Stop: ADR/2 = .96

FTZ: Entry + Trade Risk = $106.54

N Bull: $109.96
Once price hits the
FTZ, there’s no risk in
the trade anymore;
frees your mind
FTZ: $106.54 (Sell
1/2)
Entry: $105.58
ADR Stop:
$104.62
FREE TRADE EXAMPLE

ADR Stop: $68.32

E: $67.94
FTZ: $67.56 (Sell 1/2)

Bear: $65.90

FTZ: 67.94 - .38 = 67.56

ADR (10): .76

ADR Stop: ADR/2 = .38
Final Thoughts
Discipline, patience, and technique are the most important
aspects of executing successful swing trades.

• It’s all about Trade Location; remain

disciplined in requiring a great entry

• Know the types of Pro-Style entries,

and when to deploy them

• The setup doesn’t make the money;

knowing when to use it does

• Practice leads to confidence;

confidence is gained through
experience
CONTACT ME!

Frank Ochoa
Author, Educator, Trader

Twitter: @PivotBoss frank@pivotboss.com

Shop: shop.pivotboss.com www.pivotboss.com
SWING TRADE PROTRADE AND RISK MANAGEMENT

with Frank Ochoa