Our Crude Oil Live Trade Room Terminology & FAQ
You can download the TradeRoom Rules & Guidelines HERE>>
Abbreviations / Terminology
b50 - BUY .50, b is BUY, plain and simple. Would be an entry (not covering a short)
s50 - SELL .50, s is SELL, denoting a SHORT SELL entry.
w50 - WATCHING the .50 area
P - PEND, PENDING - An order may be pending for entry, or as a target
R - REDUCE SIZE - All trades generally have multiple targets, to REDUCE is to lock in some profit.
brk - BREAK of a trend line, or a support/resistance level
hr - HIGH RISK
pb - PULL BACK
FNG - FAKE AND GO - fng. Price fakes in one direction, only to turn quickly and go in the real direction.
2bpb - 2 BAR PULL BACK (generally noted on the 1min chart as default, but can be on the 5min chart too if noted)
puppy - One Market is following another.. IE. CL Puppy to ES means that crude oil is following the S&P market leader
heat - HEAT is negativity in a Trade, if a trade has 5cent HEAT then its allowing a 5cent STOP. No Heat means the risk is reduced to break even, or very small, couple of ticks at most.
10/30 - Targets - this would denote first target of 10ticks and second target of 30ticks
10/30/60 - Targets - this would denote a first target of 10ticks, second target of 30ticks and 3rd target of 60ticks
b/e - BREAK EVEN - IE: Trade has has the stop moved to break even
tgt - TARGET
kik - STOPPED OUT - If a trade is KIKD then it is stopped
fade - FADE is a counter trend reversal trade. If price is moving UP towards a point then the "FADE" is to SHORT IT, if price is moving down to a point then the "FADE" is to BUY it
dv - DIVERGENCE
va - VALUE AREA. vat - value area top, vab - value area bottom - The VA for crude is on the Announcements Tab every day!
FAQ
Q - Can I ask questions in the room? I am not sure on a few things.
A - YES. You can, and we encourage it! Please send Bon a Private Message (PM) by clicking his Moderator name in the top left corner, select Private Message then type your question. He will help you in any way, with any questions you have.
Please be patient, he may take a few minutes to reply, especially if he is Trading. Bon will always answer you.
Q - It moves so fast, and the traders seem to be talking with a lingo. How do I understand?
A - Crude Oil does indeed move fast, this is one of the reasons we often talk in shorthand... It is much easier for a member to simply type "long IB2" than to sit typing an elongated sentence explaining - Advanced Members know exactly what he means, and that is the point.
Given time you will understand the terminology too, many of the shorthand terms are explained on this page. If you want to know anything specific, simply ask Bon via PM. All shorthand is exceptionally repetitive, occurring on a daily basis - It does not take long at all to pick it up.
Q - I can see drawings on the charts, what do they mean?
A - You will need to observe over time to understand what is meant. These drawings are made for Advanced Members who are learning to trade the same way that we do, the drawings may denote entries, targets or set-ups. Please send Bon a PM asking him if you are unsure of anything. Do not sit and guess, just ask!
Q - What is an "Empire"?
A - An Empire is a pattern we look for after a fast extended move.
Q - Some shorthand was used that I don´t see in the list. IE: IB2, E3, wDV, eeeeeee, pocket, ETF, HSS, me3
A - These are literal Trade SetUps that we use. They are explained in full detail to Advanced Members.
Q - Can I extend my Trial Period?
A - Normally yes. Just ask Bon in PM. If you are genuinely interested and want a few extra days, we will always oblige. We do not appreciate it when users sign in with a new name and pretend they are on their "first day" - This benefits no-one.
Traders will know if our room is something they want to be a part of, generally after a few days. What we do is repetitive and can be seen within 3 - 5 days. If you like what you see then join us, if you are not interested or don´t understand, then simply ask Bon to clarify anything you like in Private Message. DO NOT "sit and guess", simply ask Bon for clarification.
Q - Why is my main chat not activated for asking questions in the main room?
A - Because we have many trials, and some people come in just to make rude/offensive comments. Our Trade Room is for the benefit of its members so we strictly cater for them - Unfortunately some try to take advantage and come in just to post links to their web-sites, or to simply be rude and offensive - We do not tolerate that behavior, so we mute first time visitors by default.
Q - Do you teach members to trade, or is it for experienced traders only?
A - Most members in the room are experienced. We DO however teach the full strategy that we Trade for those that are interested. Ask Bon in Private Message for further details. There are always a few members in the room who are new and learning the strategies we Trade. we welcome new Traders who want to learn and give them all the help they need!
Interesting Read WHY DO MOST RETAIL TRADERS FAIL?>>
Come into our LIVE TRADE ROOM>> for an informal chat with Bon who will explain.
Alternatively send us an e-mail to inquire further.
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