Track 'n Trade Futures End of Day

Introduction

Video Transcript

In this new Track 'n Trade 5.0 Futures trading training video, I want to demonstrate some of the great new features now available in Track 'n Trade.

What you see on the screen here, is that I've opened up the Feeder Cattle contract, and of course, if you look over here in this left tab in the Control Panel, you'll notice that I have all my commodities available to me, that I've selected through the Commodity Chooser.

This is a Commodity Chooser, where I can go through and choose which contracts I want to download data for, and which commodities I want to see. Whether I want to see Futures or Options. I hit Okay.

These are the different contracts, so if I come down and choose my different commodity, I then have available a different contract month that I can then open and look up. We have a lot of history in Track 'n Trade. Many markets have as many as 40 years of historical data. You can see this SRB contract goes all the way back to 1986.

Then, we have our Symbol, we hit Open Chart and we open a chart. I have Feeder Cattle on the screen here, and this is a contract that I want to go through. To you, some of the great new features in Track 'n Trade 5.0, I'm just going to do a simple trade.

One of the things that I want to point out first is that we've modified the software, so that the Control Panel is now in the left window. Notice that we have all the tabs across the top of the screen, and the third tab is where we have all our settings. In 4.0, those of you who are familiar with 4.0, we used to have a little hammer and wrench tool that you'd click on that would open up a box that would give you all your settings. We have significantly expanded that feature and put it in the left window, so now you have a "On the fly Settings" capability. If you change in this window will immediately be reflected on over on the chart, or on the Indicator, or even in the Tools.

For example, if we want to change the chart settings, all we have to do is have that third tab selected, then click the chart. All the chart settings pop up in this left window. Anything we change over here, will then be reflected on the chart, immediately. For example: If we want to turn on the light grid lines, maybe we like those. Turn on the dark grid lines. Maybe we even like day lines turned on there. We can turn those on. If we come down here, we've got Last Trading Day, First Notice Day, Options Expiration Day; those things can flip onto the screen immediately.

Let's say we come down here. Let's say I want to have the new Cursor Lines turned on. You notice I have cursors on the screen that follow my pointer. If I want to come down here and say I don't want closed higher to be green, rather it to be red. I just come down here and I choose red. Notice, it immediately reflects on the chart that I've changed those settings to red.

Let's come down here, maybe I want to have Candlesticks. I can come in and say what type of Price Bars do I want? We'll change that over to Candles. Now I have Candlesticks on the screen. If that's the way I want all of my charts to look, I can come up here and say Save As My Defaults. Now, every chart I open up from this point forward, will look like this. Another great thing is notice in the bottom window I have my indicator set up now. I currently have my Mac-D indicator turned on. If I click on the Mac-D, notice that just by clicking on the Mac-D window, it brings up all the settings for the Mac-D. Anything I change in here will immediately be reflected in the Mac-D.

If I want to come down and change the trigger line to 28, there it is! It immediately changed it to 28. If I want to save that as my default, I just hit Save As My Default, and any chart that I open up from that point forward will have the Mac-D set with the thresholds turned on and the trigger periods set to 28. Let's change that back to 9, because I like that set to 9. The next things that's really neat, is all the tools now have their own settings. So, if I click on any given tool; let's say I want to use the 123 tool. For example: I click on that, notice that it now has all the settings for the 123 tool, which we have significantly enhanced, by the way. The 123 tool is now significantly now more powerful than it ever was.

What we're looking at in this Feeder Cattle contract for example is a nice 123 bottom formation and we can come in here, and we can use the 123 tool to calculate 1, 2, and then 3. Notice, we have all these different markers in here. If you come down through this thing, you can see that we can change this from 1, 2, 3 to maybe A, B, C. We now have an ABC tool.

We can come in here- some of the features that are really nice is that we can come in and this first projection level, notice they're all broken up into little boxes. We're talking about the line between A and B. We can come in here and we can set that to Fibonacci, and now we a Fibonacci scale going up from A to B. Or we could have our user definable field. Notice in mine, I just have 50%. Maybe I also want to have in here 61.8%, so I can have 61.8%, so I can have 61.8% in there.

Maybe I just want to go through and not have Fibonacci, and I just want to have 25%, 50%, and 75%. I can do that! It's all user-definable. What if I want that reversed? What if I want 75% at the bottom, so I'm talking about a retracement, right? I hit reverse, and those numbers get reversed. Let's take reverse off.

The next section is from 2 to 3 down here from B to C. Now, this is one of my favorite features, I like to be able to see how far this market has retraced back against the first position. You'll notice that number in there moves and changes with how far back I've pulled it back. Right there is 50.3%. So I can measure just with the 123 tool the Fibonacci retracement against the previous trend. So, that has come back 87.9%. Then, the projection levels, the prediction and projection levels are controlled down here.

Now we come down here and we can project out on the Fibonacci scale if I want to, see how that goes out on the Fibonacci Scale. Of course, I can reverse it if I want, and have those reversed. If that goes out and has a Fibonacci projection. If I want to go out on a prediction line, I can go in here, and this is the projections out further beyond the 100% level. They can be either Fibonacci or I can come in here and say User-Defined. I want it to be 125%, I want it to be 150%, and I want it to be 175%. So, now I have those capabilities as well. That's one of the great features about the new 123 tool- giving us those projection tools off of the Fibonacci numbers.

Now, as we're analyzing this Feeder Cattle chart, we're noticing that we're anticipating this market to advance back out. We have a couple other tools that we can use in that regard; one is the Fibonacci Ruler. So, if we lay the Fibonacci Ruler over the top of this chart, we can go from the A point to the B point back to the C point. We have the different Fibonacci projection levels as the market moves back out.

If we were going to try to get into this market, I like to use the Fibonacci ratios as an entry point. In Track 'n Trade everything we do is based on the five steps to a successful trade, that I always teach. Which are: Count, Measure, Setup, Trigger, and Follow-Through. I'm always counting the different waves and the different cycles of the market. I'm always measuring them against the Fibonacci retracement levels. We're looking for setups, which are opportunities to get into the market, and then a trigger. Some kind of a trigger to get us into the market. Then, the follow through, how are we going to get out of the market. So, those are our steps. Count, Measure, Setup, Trigger, and Follow-Through.

That's what Track 'n Trade is built all around. That's the whole reason why we built Track 'n Trade, is to help us follow those 5 steps, to do the things that we are always taught: Buy the valley's and sell the rally's. Buy the valley's, sell the rally's. That's the only way we make money, right? Buy low, sell high. We want to buy the valley's and sell the rally's. In doing that, we need to count and measure, then we look for setups and triggers.

So what we want to do is to come in here and we want to look for an opportunity to buy the valley. Well, the valley on this 123 position is back in here. This market has come back completely back behind this 61.8% level, so it's closed behind the 61.8%.

I often times like to look for an open high low close, a complete bar, back behind the 61.8%. If I don't get that, I have to close behind 61.8%. I can put my order in 1 of 2 places. I can come in here with my buy/sell order, in Track 'n Trade, once again, I have the ability to do the trade simulation, or tracking my trades. I can put my order to get in on a break above 61.8%, or if I want to be more conservative, I can wait until the market broke above 50%.

I'm going to put it on 61.8%, because that's going to lower my risk, it's going to increase my risk, because I might get into the market while the market is still on its way down, but it's going to lower my risk on the stop area, where I put my, it's going to bring my entry order closer to where I put my stop. So, I'm going to buy 3, and that means I'm going to put my stop (if I'm wrong, what if I'm wrong)? I'm going to put my stop down here behind the number 3 point, or the number...yeah, the number 3 point. Now, I'm going to sell 3 on a stop.

See, I have this market setup so if it breaks higher, I'm going to get in on a long position and if it comes down, if I get in then turn around and this comes down, where I'm going to get out is the distance between where I get in and where I got out. I do that with my dollar calculator. I can come in here- this is my risk reward calculator. I can come in here, and because we're not really bracketing the market, I don't need this bottom one, I can just close it. It looks like on this position we're risking about $1,237.00 per contract. If the market gets us in at 61.8%, and if we're wrong we get out at 96.5%.

Where is our projection, where do we anticipate this market going? Well, that's where we can use this 123 Projection tool, by coming in here 1, 2, 3, and it says this is the 100% projection. We anticipate that's where it's going to go, so we draw that up to there. That says about $3,000.00 per contract if this market makes the predicted move. So, now, we're going to risk $1,237.00 for a $3,000.00 contract, profit per contract.

We have some other features in Track 'n Trade that are really cool that can help us with that as well. One of the features that we really significantly enhanced is the Andrew's Pitchfork tool. Now, before I move onto the Andrew's Pitchfork tool, I want to show you some of the features of this Fibonacci Ruler. The Fibonacci Ruler is significantly been enhanced as well. If we want to come in here, we have it all set-up to standard defaults. Here at Gecko Software, we've calculated all the retracements off of the Fibonacci retracement level. If you want to use different retracement levels, or you've calculated different Fibonacci numbers that you would rather use than the ones we've calculated, you can come in here to User Definable. You can come in and say Okay, I want to user-define one at 25%, and I want one at 50% and one at 75%. You can break it up however you want to break up the Fibonacci Ruler and have whatever calculations you want in this user-definable field.

We also have retracements and projections, which are also user-definable. For example: Here's our projections, and of course we set them up on Fibonacci ratios and if you want to you can come back in here and user-define those. Maybe I want those to be out at 125%, and 150%, and 175%, and 200%. Now I have them all set out on my own scale. So you can have whatever scale you want. We have the time zones in here, of course those are Fibonacci Time Zones, we have the ABCD predictions still in there. We have the 26.6, and 76.4, Fibonacci retracements that you can turn on in there, if you want to. Whatever levels you want, they're all up to you at this point.

Now that we have our Fibonacci numbers in there, let's come in and let's look at this new feature that we have in the Andrew's Pitchfork, because the Andrew's Pitchfork works off the same concept, and we have this Feeder Cattle contract, and we're looking at where we anticipate this market going. We lay that Andrew's Pitchfork in there, and notice the Andrew's Pitchfork screen over here. I still have all the same fixed width features that I had in 4.0 that I can turn on, but now we have sliding extensions. We have extension 1 and extension 2. Turn those on, and now you notice, just by clicking on them and dragging them, you can move them over to what we call " the working lines." So, now you have areas of support and resistance. That can be on the inside of any of these Pitchfork tines, or you can scroll out on the outside to work with areas of support and resistance. If you want both of them over on the other side, that can easily be done too. We have have our sliding extensions moved wherever we want on the screen.

Notice, we have Distance Markers turned on. Now, the distance markers are set-up, we can have the Fibonacci numbers up again on this of the tines, telling us the different Fibonacci ratios, or we can have them be user-definable. If have 100%, 125%, maybe I want 175%, maybe I want 250% in here, 200% in here; I have that capability. I can even come in here and do I want 25%, 50%, and I can get those different projection levels going up the Andrew's Pitchfork.

Also, notice that in here, I have the Schiff color. The way we turn on a Schiff Andrew's Pitchfork is by going through to the 50% line, between the 1 and the 3 point, or the 50% line between the 1 and the 2 point. Notice right here, there's a little icon, or a little market. If we right click on that marker, it comes down here, and it says add Schiff Median. Click on that, and it turns on our Schiff for us, automatically, and now all the settings over here are working with the Schiff, because that's the one that's selected. Notice it's selected with the little handles on it.

We can come back and we can make all the same changes, we can turn on our sliding extensions on the Schiff, or however we would need to make the changes, or modifications are user-definable or use the Fibonacci numbers and we can work with the Schiff Median. If you don't want the Schiff Median anymore, you can simply right click on it, and hit delete, or you can select it and hit Delete on the keyboard.

We're now back to where we were before. If I want to go back to the settings for the Andrew's Pitchfork, all I have to do is simply click on it. It brings back my settings into this window. If I want the settings for the 123 tool, they're still laid in here, all I have to do is simply click on it, and it brings back my settings to the 123 tool. So, I have both tools laid in here at this point, helping us analyze where we anticipate where this market is going to go. We have this market pulled back to the 87.9% level, where we have our stop placed in case the market comes back against us. Of course, we're not in the market yet, so we actually don't want to placed this order down here, because we don't want to get filled on a stop going short, before we have even come in and gotten into the market.

Let's advance the market forward, step forward 1, and of course it's coming up saying you have a margin call, which means we forgot to deposit our money. There are two things you have to have in order to have a successful trade. One is money, you have to have money. The other one is time, time for that trade to mature. So, let's come in here, and let's put in our $10,000.00 into this trade. We're going to hit Okay. Now we're in the market. Now we can go ahead and un-cancel this order. I'm going to place it in there right behind our furthest back area of support, which is 87.9, so that's our risk area. We're in this market, now what do we want to do? Do we want to try and look at some different ways that we can analyze this market a little bit more? Let's look at some of our additional indicators and see where they're telling us this market might have a tendency to go. Notice that down here, we have the Mac-D and of course, just like in Track 'n Trade 4.0, if I have multiple indicators selected I can click the little button over here on the right side which is our key, and it rotates between the different indicators. Currently I have Mac-D and Volume and Open Interest selected. So, as I click on that, it rotates between those two.

In Track 'n Trade 5.0, we have a whole bunch more indicators. We have the AD, we have the ATR, which is the Average True Range. We have Bollinger Band Widths, we have the CCI, which is a favorite of mine. We have the CMF, where the Chalk and Money Flow. We have the DMI, we have the Fast Stochastics, we have the new Gator, we have Historic Volatility, for those of you who are trading Options. We have the new MFI, we have Momentum, we have On Balance Volume, we have the PPO, Percent Price Oscillator. We have the %R, we have the new Percent B, or the Bollinger, which is the Percent Bollinger Bands. We have the PVO, or the Price Volume Oscillator. We have the ROC, which is the Rate Of Change. We have the RSI, the SRSI, which is the Stochastics Relative Strength Index, that's a nice one. The Slow Stochastics, one of our Favorites. We have the new Tricks Indicator. We also have the Ultimate Oscillator.

Of course, we still have in Track 'n Trade as additional Plug-Ins the Seasonals, which comes with the Probabilities. Of course, the Commitment of Traders is still here and available. For those of you who have the Stocks, or excuse me, the Options Plug-In, we have the OSV and the Strike is also still available. We have a number of new Oscillator Indicators that are available in Track 'n Trade and not only that, if you right click on the chart, look at all the new Indicators that we have for Overlays. We have the new Alligator Indicator. We have Bollinger Bands, of course, we have Donchian Channels, and the Historical Averages. If you go into the Historical Averages that comes with the Seasonals Plus-In. We have Keltner Bands, we have Parabolic SAR, Pivot Points, 10x8 Mac. We have a number of different Overlay Indicators to help you with you your trading decisions. We have some great new features in the right click that are also included. We come with the great advantage lines which is a Track 'n Trade special. The Bulls 'n Bears, which of course is my favorite of all indicators period. We have the Zig Zag tool, which we love to help us identify recurring Price Patterns and Elliott Wave patterns. But look at this, now that I have my, let's say I have my chart setup at the Indicators, and the view and the look that I want, if I come down here and just say, Save Settings As My Default and then say Apply Settings To All Charts, right here in the right click menu- what that's going to do is now it's going to Save these Settings however I set my chart up , whatever Indicators I have turned on, and I say Save As My Defaults, now everytime I open up my chart from this point on, will look exactly like that chart. If I say Apply Settings To All Charts that are in my book will then take on all these features in these indicators. It's a very wonderful shortcut to setting up all of your charts. Let's see, so many things to show off, and so little time.

Let's go through and let's clean up some of these things. I'm going to turn off some of these on-screen Indicators. I'm going to turn off the Zig Zag and the Advantage Lines. I'll leave the Bulls 'n Bears on, because I love the Bulls 'n Bears, it's my favorite Indicator of all indicators, and i just simply don't trade anymore without it turned on. Of course, I am a purest, I do like to have the Open/High - Low/Close Bars. Here we're going to look at the open high low close bars with the Bulls 'n Bears, and we're going to use the Andrew's Pitchfork laid over the top with the 123 tool. Very fancy stuff here. As the market moves forward, now maybe we want to take some profits as this market moves in our favor.

I'm going to come in here, and I'm going to lay in a Limit Order. I'm going to lay this Limit Order in at that 50% line. If the market moves forward, and we take off some profits, I'm going to Sell 1 on a Limit at that 50% level. So, if the market moves forward, I'm going to take profits there. I'm even going to come in here and take some profits off. Not at the 100% level, I don't want the market to have to push all the way out to the 100%. I want it to come in just inside of this number 2 point, and maybe take some profits in here. As it comes up and tests these new highs, I'm going to come in and I'm going to sell one more on a limit, and I'm going to let the third one ride, okay?

As we come in here, and we our different tools used, or set up in here for our use, I'm going to move the market forward 1 day at a time. As that market moves forward, if it moves forward, we're going to make money. If it comes back, we're going to lose money. We have ourselves protected with our Stop Loss, we're going to flip over here to the Accounting Package, and we're going to watch our profits and losses accumulate. We're up to $1,965.00 in this particular trade. Step forward one more time, one more time. At this point I feel a little more comfortable about coming in here and moving my stop. So, I'm going to move my stop up just behind this area of resistance, right here- right behind where my order got entered. We're going to step forward one more time, if that market comes against me, I'll get out. Oh, it hit our limit. It actually took some profits off the table, so I'm no longer long with two contract, I'm only long with one contract, so I'm going to come in here and change the Settings on my stop to 2, and now I'm protected that way. I'm going to turn off the text on that order, so we can see what we're doing.

If you notice that the 123 projection tool, and the Andrew's Pitchfork are both projecting that we're anticipating this market coming out to the 100% level which is right here. On the Andrew's Pitchfork, this center line, acts kind of like a rubber band. It kind of pulls the market towards that center line. So it goes up to the center line and then surpasses it, it likes to go up bounce its head off of this upper region, then drop back down and be pulled back down to that center line once again.

I'm going to take some profits again, as it advances forward and comes up and starts to test that center line. If that market moves forward, which it did in this example, I'm going to move my stop up a little bit to protect myself and step it forward one more time. The market jumped up, I took some profits off the table, and look it came right up touched that center line. It also came back and it tested that area of support and resistance.

I'm going to come back over here to our settings. One thing I like to have on is our cursor. I'm going to turn that back on, save that as my default. Come back over to my window. Now, I have my cursor. Look, I can line my cursor up with historical areas of support and resistance. Look how that market came right up here. I can also use this tool, to come in and see how that lined up. Look at that, perfect. It came up, it touched that number 2 price exactly. So, that's a good place for me to be, right on the inside of that number 2 point. Took some profits with that limit order, and now I'm going to move my stop up. Basically, I'm going to move my stop up underneath that last price bar, and at this point if I want to, I can step the market forward again, and as it continues to advance, I'm going to hold my stop. Oh, I'm in with 2, I need to make some adjustments here. In my settings, I need to make that be 1 on my Stop, because we're only long 1 contract now. It tells us that right here. We're long 1 contract. We have $4,950.00 in profits. We're going to step that market forward, and we're just going to continue to trail this market up with the stop loss.

We also have the Auto-Trailing Stop features in the Bulls 'n Bears. I want to modify the Bulls 'n Bears. How do I get into the Bulls 'n Bears settings? It's an overlay indicator, I can't just click on it, and get to my features. I have to have that 3rd tab selected to get to the features. I click on the STRK indicator. Let's come back to our Mac-D. In our Mac-D, if I just click on our Mac-D it gives us the settings for the Mac-D, but how do I get to the settings for the Overlay Indicator? What I do is I right click on the chart, slide down here to Properties, there's Bulls 'n Bears. Click that, that'll turn that on. I now have all the features available to me of the Overlay Indicator, which in this case is the Bulls 'n Bears.

I want to turn on my Blue Light System, I'm going to turn on both. I'm going to save that as my default, because I want to have the Bulls 'n Bears Blue Light System turned on. Look here, it's telling me that I should have my stop clear back here at this point. Well, yeah.. I probably should. I'm going to wait for a second. I like to have my stop a little closer, if that Bulls 'n Bears catches up to me, then maybe I'll hook it up to my Bulls 'n Bears Blue Light System. But right now I have it held a little tight. If it comes back against me, oh, I got stopped out. Would I have gotten stopped out on the Blue Light System? Uh.. no, I wouldn't have. You know what? That would've been a better choice. That's the great thing about Track 'n Trade. I can come in here and I can do all kinds of "what if?" scenarios. What if I would have left it with the Bulls 'n Bears? Would I have made more money? Because right now, I got stopped out with a $4,630.00 profit. Nothing to sneeze at, but could I have made more?

Let's back up one more and see. Let's back up the charts, let's come in here now and set this up with the Bulls 'n Bears System. I'm going to set that on there. I'm going to right click on it, say Change My Properties, go to Settings. I'm going to be a Trailing Stop based on the Bulls 'n Bears. Hit Okay. Now, as the market advances- look, I'm using the Bulls 'n Bears Blue Light Automatically Trailing Stop System to help me calculate where I should have my stops placed. This time, that held me out of the market, just as it came against me, and I'm actually making more money now! Hopefully, that will continue, and if the market moves forward, my Bulls 'n Bears will move forward for m. There goes my Clue Light System. Notice how that market came back, pulled back, and jumped right back up and hit that 125% marker. It hit right dead center of that Andrew's Pitchfork. Now, as the market continues to advance forward. My stop is Auto-Trailing up with the Bulls 'n Bears Blue Light System, which is maximizing my profit potential. I didn't get stopped out. As it continues higher, we're making even more money, and right there, we got stopped out on the Bulls 'n Bears. We now have $7,292.00 in profit. Thank you Bulls 'n Bears!

Alright, you guys, those are some of the great new features of Track 'n Trade 5.0. There are plenty more! I'll be doing a lot more videos for you. I hope you enjoy your new software!

Thank you for watching!