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pure financial academy (www.purefinancialacademy.com)
I attended the class room a few times this week using a free week trial.
I thought the instructor was easy to understand and clearly explained what he was doing. They use demand and supply area to setup trades. They have an indicator to plot the demand and supply areas.
There method is easy to understand and easy to spot the setups.
The down side for me? Unless I am misunderstanding something, it seems like you get to use the indicators only as long as you are a member of the class room. At $299 a month, that gets to be one expensive indicator.
Between apazones and pure financial, did you find anything that could help all of us trade? Its been a looooong time since your free trial and you havent said anything. That is either really good, or really bad. -)
I personally dont buy all that confluence of supply and demand area stuff. All these supposed tape reading guys and guys who are "former" floor traders all claim they learned that in the pit. So why are they selling it to us? Anyway, to me, its easier to just use fibonacci levels for 3 different time frames, which if you guys look at my past posts here, I have been championing this as the way to go, the best way to go in figuring price targets, at the very least. Personally I watched their video and wouldnt be surprised if fib levels made up over 50% of this indicator combined with volume. Not totally off topic, here is a question for the crowd here: IF YOU SAW THAT A STOCK HAD THE HIGHEST VOLUME AT A PRICE OF $25.40 AND HAD BOUNCED OF THAT PRICE 3 TIMES ALREADY IN 2 WEEKS HOLDING AS SUPPORT. nOW ITS ON ITS WAY THERE AGAIN , WOULD YOU TAKE THE VIEW 1-there are plenty of sellers and buyers both at that level to give the stock a bounce once again or 2-interest at that level has already been soaked up as either big sellers got out or in(we dont know which, do we???) at around that number.) Me, I would vote #2. All the systems that are volume based would say that that price is acting as a magnet and also support so its safe to buy there. I would bet statistics would show this to be not only NOt BREAK EVEN, BUT A VERY MUCH LOSING PLAY. Why? EVERYONE IS THINKING THAT WAY AND THE BIG TRADING HOUSES KNOW IT!!! Also interest at a certain number 2 weeks ago doesnt have anything to do with an exact number 2 weeks later if the stock had doubled from that price since then. To me it shows something is wrong, not good about that level, especially if bad news came out about the stock or the market in general, you can kiss that area goodbye. I had subscribed to a nesletter called J-CHARTS 10 years ago that monitored volume buying in futures and forex and it was worthless.
Anyway, things could change and this company may not be doing that method. So Im open. Let us know how you are making out. Anyone please let us know.
It is a pretty decent S/R indicator for the price & allows you to turn the historical plots on or off.
It also lets you set a higher timeframe, & other filters within the indie, which affects the levels plotted.
The only S/R indies I have found to be better (that I own & use) are:
This is Bill Busby's new biz, the son of Tom Busby out of Mobile, Alabama. Nothing new, just a spin off of Tom's stuff. A not so cheap multi-level training program, nothing more what is already out there in media and books on day trading. If You read Tom's Books, you know what they teach.
