The Live Room Recap/Session Recap is a quick review of the potential opportunities occurring later in the day. We discuss how the charts are saying there may be a trading opportunity and where the targets and barriers may be. At 4:00 p.m. – 5:00 p.m. we again look at the charts (Real Estate of the Day) to see if there are any significant changes since the Recap. Many times there are fundamental announcements which affect our decisions to take or not take a trade. Traders who make the decision to take a specific trade always do so AFTER the fundamental announcement.
Our goal is to find 2 or 3 Info Center Alerts if possible. These are NOT trade calls, but are simply areas of interest according to the charts and our analysis of what the charts are saying. We post generic stop*, entry and take profit levels in the Alerts. If there are multiple targets we will also identify those in the Alert. We also always compare the Info Center Alerts identified to the ATR (Average True Range) to determine if they are feasible. For example, if a currency pair has an ATR of 90 pips per day, we would not post a target 180 pips from the entry.
* the generic stop is the technical stop in the ProAct methodology on the Info Center Alerts. However, traders who decide to enter a trade use the special ProAct Traders Scout methodology.
The Info Center Alerts are valid only until the next London or New York session, when we are live in the market. We do not send Alerts on Friday as we do not trade Friday due to it being square-up day, a dangerous day to trade.
In summary, Info Center Alerts are intended to advise Live Room Subscribers and Fast Track Mentored students of possible areas of interest in the charts at 4:00 p.m. – 5:00 p.m. Eastern Time. It is the trader’s job to review the chart and make their own decision about the Alert’s information for themselves. They are NOT trade calls, just reminders of areas of interest based on the real estate of the day.
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