While the reading and analysis of the Level 2 is the basis of all MOJO trades, it is also quite important that traders understand the other technical indicators that are used by MOJO ProTraders.
MOJO wanted to briefly go over Bollinger bands and the Stochastic Indicator, to give you some additional insights.
Bollinger bands were developed in the late 1980's by John Bollinger, a long-time technician of the markets. He developed the technique of using a moving average with two trading bands above and below it. Bollinger bands are able to adjust themselves to market conditions by measuring price volatility using a standard deviation calculation.
Bollinger bands expand and contrast as the price action of an issues becomes volatile (expansion) or becomes bounds into a tight trading pattern (contraction).
MOJO Traders use the Upper (White) Bollinger Band as an indicator to get better entry and exit points. This allows quick and decisive trades, so we can get the best entry and exit points we need for maximum profitability. The Center (Green) Bollinger Band is an exponential moving average, as the price channels are the standard deviations of the stock being studied. At MOJO Day Trading, we do not focus or use the Bottom (Red) Bollinger Band, so it is best not to spend too much time worrying about that for now.
Stochastics are an indicator that measure the relationship between an issue’s closing price and its price range over a predetermined period of time. The basic premise of stochastics is that a stock’s closing prices tends to trade at the high end of the day’s price action. Price action is the prices at which a stock traded throughout the daily session. MOJO ProTraders also use this as a guide to get the maximum profits and best entries possible on all trades.
If you are serious about day trading for a living, it is important to always be expanding your knowledge. If you want to learn more in depth about Bollinger bands and the Stochastic Indicator, it is important that you enroll in MOJO University and get the tools and education required to beat the market.
Make sure to check out today’s recap video and see this awesome action for yourself, you won’t want to miss a special LIVE trade:
Since 2012, MOJO University has graduated 150 ProTraders. More than 50% of these ProTraders have been with MOJO for (3) Three years now.
MOJO University was founded to supply both day and swing traders with the tools and skills necessary to achieve success in the treacherous waters of the stock market. This is the ultimate stock market classroom training you can possibly get. You will be in an online interactive classroom environment discovering the MOJO Style of trading and the ways to be successful as a trader in the market. The courses will change the way you look at the markets, stocks, your bankroll, your lifestyle, while enjoying the rewards a successful day & swing trader can offer. The complete program includes (1) Month of (10) classroom sessions and lays an essential foundation for those wishing to be a much better trader and stock picker. The course begins with the basics of technical analysis and progresses through advanced trading topics. Students who complete all the classes will have a solid foundation to trade during any market condition whether they choose day trading or swing trading.
MOJO University next classes are starting, May 2016 & Class size is limited to 30 NEW traders as many ProTraders come back for repeat classes. Getting to know personally every trader I become your mentor, coach, caddie and business partner. The next class starts May would you like to enroll?
This current class size is 67 traders – it’s packed. Many Pro’s return to take it over and over. The average traders takes the course three times. It does NOT to anything me back and keep taking the course as Repetition is the key to success.
MOJO Mission Statement: To provide the education and tools necessary for anyone to trade the stock market as a business and replace or exceed their prior income, providing a lifetime of financial security.
As you are well aware 9 out of 10 traders fail. WHY? Answer is because day traders have NO PLAN. They are “Traders” and do not conduct their money like a business, man!
Once your mindset changes with a definitive and concise business plan of action each morning the trading routine becomes consistent and very profitable. Remember it’s a marathon and not a sprint.
Here is an idea of the consistency of some of the seasoned ProTraders:
ProTrader Alan & ProTrader Sale – they average $2,000 to $3,000 per day = $40,000 to $60,000 per month (Alan has not had a losing day since Nov 2014)
ProTrader Colin & ProTrader Clifton – they average $500 to $1,000 per day = $10,000 to $20,000 per month
ProTrader Nori & ProTrader Spec – they average $100 to $500 per day = $4,000 to $10,000 per month
The ProTraders above have each taken the course more than 3 times. Once you have taken the course and are with MOJO for 6 months to 12 months we can accomplish together your Outcome goal for 1st year then we can go for Year #2. Looking forward to the journey with you. My promise to you is that you will be shown how to become successful in the day trading business. You will also be taught the MOJO Swing Style as well being able to identify the overnight swing plays.
When you are done with MOJO University you will have a 100% Game Plan and be ready to execute with:
outcome goals = $100,000 to $1,000,000 game plan enabled
process goals = trade plays to accomplish the outcome goal
self-belief & positive expectancy
patience & selective attention
More about the classes: