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Getting sophisticated analysis into easy-to-use indicators

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John Person’s market analysis gets into some complicated areas, but TradeShark’s programmers have made his indicators easy to understand and simple to apply for all levels of traders.

Video Transcript

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Tim:

My guest today is John Person, we're talking about the support and reversal indicator available exclusively in TradeShark. John, how did you come up with these support reversal indicator?

John:

It's thirty-five years of trading and quite frankly to look at the nuances of the market, but with TradeShark, it's the only indicator package that has this unique feature built in without having to figure out high or high did it close above prior lows? Did it close above x, y, z? That's what an indicator helps people to do to immediately see a price continuation or a price change, right?

With TradeShark, it's just simply, click, drag and drop. You can see the levels on the charts and then you can take your price order and know where to place your stop and as the market moves up, as they all teach you and everyone ones heard before, "Let's your profit's run." That's an easy phrase. No one ever tells you how to do it and that's what this indicator does. It teaches us and shows you more importantly, on the chart, it paints a picture on the chart, here is a level that my stop needs to go below. As the markets starts to move up, in your favor, when that level is broken, that line in the sand it broken, that tells you to get out. That is a very powerful tool to help traders to find when to get off the train ride sort of speak.

Tim:

I know it's a very simple tool to use with the drag and drop. There's a lot of complexity that goes on under the hood with this. Can you talk a little bit about the kinds of things that it's looking at?

John:

That's why TradeShark's a powerful product. Number one, because there's a lot of programming that went in behind the scenes to make this easy. It's not easy, there's complicated formula's that went in behind the scenes and of course, programming that went in. You don't need C++, you don't need to know any specific script and be a computer programmer, it's done for us .

Tim:

John, there's stock traders, commodity traders out there, Forex traders. Indicators, sometimes, are only applicable to a couple of different market because they only work well. What about yours?

John:

My indicator, the way it's designed, will work across multiple and mostly all asset classes, specifically if they have an open high low close and a volume component to them.

Tim:

You've worked pretty closer with the TradeShark team to make sure this indicator does exactly what you want it to do. Talk about that?

John:

The issue with foreign currency is there's no central market place for any one Forex dealer, but TradeShark cracked the code in its software, and if you notice if you go at the very top and you just drag and drop, which is one of the neat features of that software, so when one ask why TradeShark, that's one of the main reasons. Because it's very fast, and in this day and age, fast paced markets, I trade multiple asset classes.

I might be looking at four different stocks today, I'm also following the Euro, a lot of markets are inter connected. With that said if I'm looking at the Euro and I want to see the foreign currencies you look at the TradeShark at the very top of the screen you will see Euro/USD, and that's the Euro cross with the dollar. If you just drag and drop that into the chart and then go over the John Person's indicator and you plug in the volume you'll notice that we have all of a sudden a volume on foreign currency.

So we've worked together very had in putting together my indicators and having it worked across every asset class and it's seamless and that's one of the key components of our indicator working with TradeShark.

Tim:

Talk about the types of traders who'd be using an indicator like this.

John:

Anyone from an institutional trader, to know where to start to move their stops up in their positions to also more importantly not just to move your stops but figure out what your risk component is on the trade. That's a very important element in position sizing. Knowing how many positions should I be in, in relative to what my risk of the trade is and should I be scaling out or maybe adding on. Some traders like to and the trend starts to define itself add to positions, so if I'm going to add to a position, where's my risk go? This tool paints it right there on the picture literally like a line in the sand. Here's where it is on the chart, it's that easy.

Tim:

The important part of this too is, you've made money with this indicator yourself in your own account.

John:

Absolutely. This is something that I've been using for as a mental idea. If you can imagine this not having the luxury of having it on the chart. I've been doing this by hand for over thirty years and then when we came into working with more and more in computers, we implemented it on a computer and with TradeShark, it's been programmed automatically.

Tim:

I think traders will spend a lot of time talking about entry points and where to get in and just finding good trades. This goes a step further, right, and talks about once you're in it, what do I do now?

John:

Right, and that's where I think a lot of people... Everyone can get into a trade. I've got a mouse, point and click, I'm in a trade, now what? Where do I move my stop ? What's my profit target? What's the momentum of the market? Is there strength behind this market? Is it moving or as the markets moving, is it have legs to run? Is there the other tools that we created with the volume for example. That's helps us to determine is there legs to run, so people have a hard time getting out of trades and that's where the stop and reverse, the support and reverse element works tremendously well.

Tim:

I've heard that a good trader can still make money in a trade verses a bad trader who's got the same entry point but it's that management of the trade is key to making money trading.

John:

Yeah, you can take a trader in the middle of the day and one can buy and one can sell. At the end of the day, both traders could either make money or both traders can actually lose money and how's that possible? It depends on what they do from when they get in until they close. It's a matter of can you manage the trade and that's what these tools do. They help people manage a trade. If I'm getting into a trade, can I as the market starts to move up, when and where should I place my stop and that's what this tool does. It paints a picture right there on the chart for people.

Tim:

We have established that you have made money with your real trades with these indicators in all kinds of different markets. Time frames. Daily, weekly, monthly, is one of them better than the other with these indicators?

John:

The indicators work in all those three time frames, daily weekly, monthly. I think a lot of traders, and even a lot of technicians fail to utilize the higher degree time frames nowadays because everyone is so looking at that fast pace and they lose sight of the longer-term trend. The monthly is very important to utilize and that's why we do compare where at ... in order to figure out where a price of a market might go, ask yourself where has it been? What's the best way to figure out where a market's been? By looking at monthly old lows or old-time highs, and again, looking at the weekly timeframe, remember there's five business days in one week. Generally there's four business weeks in one month. We all, at one point of one month in one day we are going to mark a high or a low.

If we compare past price action and we have great analytical tools that TradeShark offers to help but give us future forecasting of where prices might go, all we now need is two other indicators to complete the package. Is there enough volume momentum behind the trade or is the trend losing momentum and where do I place my stops? Can I look at a specific level that may trigger a reversal in a trend?

Jim:

And then also John, since these are making money, one might ask, why release them to the public? Why work with TradeShark now? What's the reasoning behind that?

John:

I actually alluded to, in writing about the style and putting together these indicators in a platform. I haven't released these indicators in any other platform, but with TradeShark, because of its ability to, and it's new-found structure, the way it looks, the reputation of the Mendelsohn’s, it was the perfect time to put everything together.

Tim:

John thanks for your time.

John:

Thanks Tim.

Tim:

We've been talking with John Person about his indicator support and reversal exclusively on TradeShark.

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