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It’s a half-day in the stock market, so trading might be light, but I like to always keep my scans running just in case an opportunity comes around.
If you’re not trading today that’s okay. I’ve put together a lesson for you that I believe will strengthen your knowledge and make you a better trader.
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Now, you’ve probably heard of support and resistance… but did you know there are many different ways to find support and resistance levels?
I’m talking about Gaps, price levels, Fibonacci levels, and even Moving Averages…
Normally you may think of moving averages as a tool for identifying the trend of a stock.
But savvy traders also use them for support and resistance levels…
In fact, you may have likely witnessed a moving average acting as support or resistance simply by looking at trends—and you didn’t even know it at the time.
That’s because it is common to see the price of a stock bouncing off a moving average as it trends… thus the moving average is acting as support or resistance.
So next time you are glancing at a stock’s moving average to get a view of the trend… take a second to notice how price reacts to it.
And if that’s not enough to get you excited about moving averages, they can also provide signs of a change in the momentum of the stock…
For example, you have probably heard of moving average crossover strategies… but let’s keep it on ice for right now… we will get to all of this in a second…
With the number of ways that moving averages can be used, it’s important to evaluate them based on the specific stock you are trading as there will be no one size fits all strategy here.
Today I am going to walk you through the different ways I personally use moving averages to crush it in my trading…
Moving Averages as Support and Resistance
The first way I use moving averages (MA) in my trading is by looking for support and resistance levels.
Some of the most significant MAs for the long term trend of a stock are the 200 day and 50 day simple moving averages (SMA)s…. these are widely known and used throughout the trading community…
The 20 SMA is also great for the shorter-term movements…
It’s never an automatic thing here… I have to watch the stock trade around them to know when and which averages are useful for a particular stock at a particular moment…
For instance… in the SPY chart below: The green line is the 200 SMA, the blue line is the 20 SMA, and the red line is the 50 SMA…
By looking at the chart, you can see the significance or lack thereof for each…
The 200 SMA (green) holds the uptrend support over the longer term… when the price moves down, it bounces off the 200 day to eventually resume the uptrend…
The 20 SMA (blue) is also being used for support in this chart… but on the shorter-term trend.
After price holds support at the 200 SMA, it bounces back and on resuming the trend, price hugs the 20 SMA for a nice move up each time before repeating the process.
But the 50 SMA (red) in this case is less significant as there doesn’t appear to be any clear support or resistance at the 50 day… more so it acts an area of congestion with the stock caught in between running on the 20 or pullback to the 200.
In NXPI however… it’s the 200 SMA and the 50 SMA that hold as support to the uptrend with the 20 SMA getting sliced up by the stock moves, adding relatively no value…
So in contrast to the SPY chart, for NXPI you would want to focus trade setups on the 50 and 200 SMA and not the 20…
This just shows the importance of analyzing the chart and finding the levels and indicators that are significant to that specific stock before trading.
There is no “one size fits all” here… so when I trade I use moving averages to find support for entering trades and resistance when exiting, I am always aware of which ones are important to my trade.
Moving Average Crossover
There’s a popular trading strategy amongst traders called the moving average crossover.
A crossover is when a faster-moving average crosses above or below a slower moving average.
The cross itself is considered bullish if crossing above and bearish if crossing below…
While it can be a powerful setup… it can also be a killer to the newbie when they don’t realize it’s most meaningful when stacked with other indicators and patterns.
As a seasoned trader, this is why I do not take a trade on a cross alone… I want to see a number of things line up to put the odds in my favor… and I can teach you all of this here.
Now check out the chart for Ring Energy (REI):
Atari black widow.
Note: the blue line in the chart is the 20 day simple moving average (SMA), the red line is the 50 day SMA, and the green line is the 200 day SMA.
Note: the blue line in the chart is the 20 day simple moving average (SMA), the red line is the 50 day SMA, and the green line is the 200 day SMA.
Here’s the quick and dirty:
- REI moves below the 200 SMA
- The 20 SMA crosses below the 50 SMA (yellow rectangle)
- The stock consolidates below the 200 SMA
- Then it retests the 200 SMA and fails
There we have 4 things lining up bearishly on this trade… now it’s got my interest.
But stocks don’t trade in a straight line, so being patient is key… those factors gained my attention but I am still going to be patient for an actual trade entry.
Here my trigger to go short is when REI breaks the low of its consolidation pattern.
From there the 20 SMA begins to act as resistance pushing the price down. This is exactly what we want to see after the break.
In this chart, you actually get another crossover setup later in the chart when REI takes a breather to consolidate and the 20 crosses the 50 again (2nd yellow rectangle).
In this chart alone you can see:
- Moving average cross signaling a full trend reversal (first yellow rectangle)
- Moving average acting as resistance (retest of the 200 before the break)
- Moving average acting as a downtrend resistance level (the 20 pushes the stock down)
- Moving average cross as a signal of momentum change (middle of the chart the 20 crosses the 50 up and the stock slows to consolidate)
- Moving average cross as a trend continuation signal (second yellow box)
That’s a real-world example of the many ways to use moving averages in trading and it really does show how significant they can be… if you pay attention to the chart.
And by using them properly (lining up multiple factors), you can make a lot of money trading… everything I use in my trade setups is right here…
Now let’s narrow in on the chart to see what’s happening now… here I’ll show you how I use moving averages on a shorter time frame for quick gains.
This is a trade I actually took recently…
Looking at the chart above… after consolidating, the 20 SMA crosses above the 50 SMA (the yellow rectangle)…
But as you know, I need multiple things to line up… here’s the pudding:
- Consolidation
- 20 crosses 50
- REI breaks through resistance
- Volume spike on break
When I saw all of this line-up, I jumped on the trade…
… and without a moving average above to act as resistance (profit target), I set my target just below the previous high, as this was the first area of resistance…
Crosses can lead to some really good long term trend trades…
Crosses can lead to some really good long term trend trades…
The difference between those and the trade I took above is how fast my trades work… I created my system around the biggest issues facing people getting into trading…
Limited time and not much money to get started… with penny stocks, you can start trading with as little as $50… I run my small account challenge around a $3k account.
In fact, I just turned that $3k into over $10k over the past 2 weeks… and that’s not a surprise to me because I do this over and over in my small account challenges… I start with $3k flip it many times over, cash out, and start over again… and you can too.
And if you don’t have the time to pick up trading… my trades can be found and entered in as little as 15 minutes at the end of each day.
And the best part… all you have to do after that is wake up the next morning and take your profits…
I can teach you every little part of this system and how to use moving averages as well as volume, support and resistance, and chart patterns to make quick profits.
And as a former teacher, I have a knack for breaking down complicated matters and delivering them in a way that anybody can understand… and I love doing it…
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4.1
Introduction
Raging Bull Trading, also known as RagingBull.com is an educational and training program for stock trading. It was originally founded by professional traders Jeff Bishop and Jason Bond of Jason Bond Picks in 2010. The two traders found that they wanted to share their success with others, which is what led them to create Raging Bull Trading.
If you’ve been researching about how to invest in stocks or options chances you’ve been bombarded with ads from many different trainers. We can bet you’ve particularly seen ads from the Raging Bull team either through Jeff Bishop or Jason Bond.
Raging Bull Trading is one of the most popular stock education platforms currently. However, their services have attracted mixed reviews all along. And so today, we’d like to find consensus on this “raging” debate.
Contents
- Benefits of Joining Raging Bull
About Raging Bull Trading: An Overview
This is a financial education website that specializes in stock and options education. It provides you with access to a myriad of products created by their top mentors led by Jeff Bishop and Jason Bond.
What we know so far is that this platform has been around since 2010. Yup, they have been around for more than a decade.
And in 2019, the company was ranked among the fastest-growing privately held companies. In fact, they ranked 915 on the Inc. 5000 list, only two spots after Uber.
Yes, you read that right.
What we also know is that the company isn’t a registered securities dealer or investment adviser. So, basically what they do is offer their two cents based on their vast knowledge in the stock and options market.
They also provide you with alerts from their mentors. You can choose to either follow or ignore the alerts.
- Jeff Bishop – He boasts more than 20 years of hands-on experience, particularly in options trading. He’s proudly a member of MENSA, an organization exclusively for people with higher-than-average IQ levels.
- Jason Bond – He of the Jason Bond Picks is known for his rise from debt to a 7-figure income. He was one of the earliest mentees of Jeff Bishop and teamed up with him to co-found Raging Bull.
- Kyle Dennis – Kyle is known for transforming his $15,000 worth of savings into $3,000,000 through successful trading. He’s a top-selling author and specializes in his Bio-Tech Breakouts program.
- Petra Hass – She’s the only top female member of the team. Petra is behind the acclaimed Petra Picks; a program she has been actively running since 2017.
- Jeff Williams – Williams is the founder of Penny Pro. He’s a successful trainer cum trader boasting more than 15 years of hands-on experience.
Who Is This Platform Best Suited For?
One thing we absolutely love about this platform is that it provides you variety. Whether you’re into swing trading, penny stocks, or options trading, they have got something for you.
Invasion from outer space. And the best part, if you happen to buy into Jeff Bishop’s Weekly Money Multiplier and don’t like it, you can call customer care and have them switch you to Kyle Dennis’ Biotech Breakouts or Jason Bond Picks, etc.
This level of flexibility gives you the opportunity to find the strategy that works best for you depending on the size of your account and risk appetite.
So, we’d say that Raging Bull is perfect for anyone looking for variety. But above all, it works best if you’re willing to take the stairs rather than the elevator (more on that later).
Benefits of Joining Raging Bull
So, before we proceed any further, we’d like to clear the air on what Raging Bull is NOT.
- It is NOT a get-rich-quick scheme
- Sure-fire way to riches with no effort on your part
- Automated trading system
We thought it’s important to clarify that because some of the marketing campaigns being done by this company’s affiliates might mislead you. Honestly, these guys need to fire their entire marketing department or at least tone down on their high-pressure approach to marketing.
They have good products but they need to set the consumer’s expectations right. Talking about good products, the reasons why we’d pick Raging Bull over any other investments education platform out there are as follows:
1. High Transparency (If you don’t get carried away by the hype)
If you choose to focus on the facts rather than the hype, you’ll realize that this is a highly transparent organization. For instance, right from the onset, they’re clear that they offer no profit guarantees and that their past results don’t necessarily indicate what will happen in the future.
The company also operates from a known location right here in the United States. That is, in Lee in New Hampshire.
The team behind the brand is quite well known. They don’t shy away from sharing about their personal lives – again, confirming that they’re legitimate people.
For a private entity that deals with stock education, we think that this is quite encouraging.
2. Customer Support
Whether you want to email them or have a live chat with them, they’re always available to respond. And as if that’s not enough, if you have a burning query, you can always send them your number and they’ll call you back.
Again, this is exceptional because most companies this big tend to make it extremely difficult for you to contact them.
In fact, as we were doing our independent research on various Raging Bull reviews posted on TrustPilot and BBB, one thing caught our attention. And that is, the fact that they responded to each and every negative comment posted about them even by anonymous users.
It’s rare to find a company that’s willing to face criticism and do it professionally.
3. They Keep Their End of the Bargain
Again, this is quite important. And if you’re reading this, chances are that you’ve come across allegations that Raging Bull is a scam.
On the contrary, this is a professionally run company. Actually, the fact that they respond to each and every comment posted about them out there confirms this fact.
If they were scammers, they could have chosen the easier way out. What’s the easier way out? One example is paying PR companies and even paying people to counter the negative reviews with positive ones.
But these guys aren’t doing that despite the fact that they have the cash and means to do so.
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Also, we’re yet to come across anyone claiming that they paid for a service and never got access to it or were given something totally different altogether.
4. Refunds
If you’re yet to opt-in to this service, then you should know that Raging Bull has a strict no-refunds policy. And that’s because they assume you’ll easily recoup your investment using the knowledge they equip you with.
In fact, they make this clear on their checkout page.
Despite all that, we were surprised to see them making exceptions to this rule. They even did refund someone who complained of having borne the brunt of the pandemic and thereby desperately needed his cash back.
And since they have numerous products on offer, they also provide the option to transfer your credits to another of their services. This gives you room to experiment with their different mentors and programs until you find one that works best for you (at no extra cost).
Once again, we found this quite reasonable for them to do.
5. Education & Mentorship
Stock trading works best when you’re armed with adequate knowledge to navigate different situations. Not when you blindly follow mentors and influencers.
And as we mentioned earlier, Raging Bull is built around the mantra of self-education.
Luckily for those aboard this ship, there’s no need to pay extra for stock educational courses. In addition to the alerts and live trading features, you also get loads of videos and well-structured courses.
We do recommend that you take those seriously. In fact, before you start trading according to the alerts you get, be sure to spend a few weeks reading the educational content first.
The problem with most first-time Raging Bull users it that they often get excited and skip the training part shooting straight for the alerts. And that’s probably where they mainly go wrong.
What Could Be Improved?
There’s still a lot of room for improvement for this company. For instance, we genuinely feel that they need to tone down their sales pitch.
They’re setting expectations too high thereby attracting an audience with the lotto-mentality. Yet that should not be the case in the dynamic world of stocks trading.
Also, the company has the habit of auto-renewing subscriptions in the event that subscribers don’t cancel their membership.
If you happen to subscribe and maybe not end up liking the service, the best thing to do is reach out to them and tell them to cancel your subscription.
This request typically takes 2 business days to be effected, so it’s ideal to call them way ahead of the renewal date.
Perhaps the company needs to start sending out reminders before auto-renewing subscriptions also. Would you agree?
Pros
- Good customer support
- Wide range of products to choose from
- Legitimate company
- Many years of experience
- Training materials provided
- Also has information on options trading
- You can switch between products (via customer support)
- They call back and offer mentorship at no extra cost (on request)
Cons
- High sales pitch; they should tone it down
- Auto-renewing subscription; they should at least send alerts
- Definitely not cheap
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Final Thoughts
To this end, we are of the opinion that this is a good stocks education platform to join. And dozens of positive Raging Bull Trading reviews attest to that fact.
Raging Bull Reviews
Jason Bond Picks has an average of 4.5-star rating on Trust Pilot. Jeff Bishop’s Bullseye Trading also has 4.2 stars on Trust Pilot.
With all those factors in mind, we’d confidently recommend this service to anyone who has their expectations set right.
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Blake is a self-made online day trader with a knack for adventure. On his free time, he loves reading and learning new methods in the trading as well as improving his jiu-jitsu skills. He currently resides in New York City.