Comments from Elite Trader
Also, here's the Echo methodology...
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The ECHO Trading Methodology is a technical trading philosophy developed by the cumulative trading experiences of ECHOtrade’s partners over the past seven years. At the core of our methodology is the concept of the spring-loaded breakout and reversal, achieved by intelligently overlaying our technical view of the market with that of individual stocks to produce consistent profits with limited risk over short-term market moves. This overlaying of the market with stocks allows a trader to identify 20 to 40 spring-loaded opportunities daily that carry a 3:1 ratio of opportunity to risk.
The partners of ECHOtrade™, while building over the last seven years one of the nation’s largest professional trading companies, have traded through an ever-changing market landscape of volatilities, decimalization, bubbles and recessions. Through all of the change, the consistent profitability of the spring-loaded, ECHOtrade set-up has remained. Most short-term scalping methods fail today because they either force a trader to assume too much risk, rely on far too many indicators, or do not narrowly enough define a trade’s entry and exit points. The ECHO Trading Methodology simplifies scalping by focusing the trader’s attention on the drivers of a stock’s movement -- key technical points in the equity futures indices and in each stock’s chart. ECHO traders relentlessly scan the charts of the futures and their stocks through each trading day, strategically placing their trades in spring-loaded opportunities.
The ECHO Trading Methodology is a methodology for technical stock scalping, which, in practice, has two main strategies of execution -- the Stock Specialization Strategy and the Stock Scanning Strategy. Stock Specialization traders focus on a handful of stocks, usually having high prices and volatilities, and use The ECHO Trading Methodology to execute trades on those stocks each day. Alternatively, Stock Scanners use either ECHO’s proprietary research (contained in ECHOpoint), the ECHOfilters, or their own research to scan the market for the best breakout/down opportunities of the trading day. Scanners then use The ECHO Trading Methodology to execute trades on those key points.
Since the inception of ECHOtrade, The ECHO Trading Methodology has become the foundation for innumerable professional trading careers. The methodology is taught to our traders via several methods. The first is through the two-week Trader Training Lab. The second method is through ECHOtrade’s National Seminar: Trading the ECHO Methodology.
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