HOW TO CREATE A TRADING STRATEGY? WHAT IS A TRADING STRATEGY? Trading rules that systematize it, bring clarity, orderliness and predictability of the result. You can take a ready-made strategy and adapt it for yourself. And you can create your own The main idea of the strategy, its rationale The idea should be rational, based on market patterns that you...
1) Consolidation The market enters this phase after a strong movement. Sellers control buyers, which further leads to a downward trend 2) Down trend Bearish phase - lower lows and lower highs. This is where traders want to go short on breakouts or from levels 3) Distribution Occurs after a prolonged fall in prices, when buyers gain control of prices, resulting...
What is a level breakout? A large number of orders are located behind the level. Either this is a limit entry order if the price overcomes the level, or it is a protective order - it is triggered if the price goes out of our way and overcomes the protective zone in the form of a level ------------------- Share your opinion in the comments and support the idea...
We have all been guilty of this at some point as traders. The only thing that matters to us is the returns or the potential returns 🤑 Our only focus is those returns which we have no control over 🤦♂️ When returns become the only focus we fail to focus on other elements we do control that will get those much wanted gains. Once upon a time I focused on a...
I want to start the morning by not posting a usual trade idea setup. But to talk more about the methods I now use for my trading and how they have alleviated negative feelings which can occur with trading. A while ago I opted to switch to an systematic objective based approach for my trading. This was down to numerous factors which you will find on the drawings...
Well, guess what? You’re still going to lose. Why? Because you don’t have an edge over the casino. Without an edge, even the best risk management and psychology won’t save you. The bottom line is this… If you want to be a consistently profitable trader, you must have an edge.
There is a received wisdom that what goes up has to come down. Well, this currency pair trend may defy that rule. We shall have to wait and see. For sure there are corrections to be expected. This begs the question of what does 'down' mean? Is 'down' - a correction? or - does it mean a fall below its original starting point? If you take it as below some...
From a top down perspective WEEKLY TIMEFRAME ---> We see gbpusd in a downward trend , also nice rejection on monthly DAILY TIMEFRAME --> Price respected the 61.8% fib level. and also tested the previous lower high h4 timeframe --> we see currently price is testing the previous lower high and we are seeing buyers weekness h1 timeframe --> we are waiting for...
Here I have a not so perfect double bottom formed, double bottom basically mean that there is a bullish move coming and you should pay attention to it.so I mapped out the pip distance from the bottom of the pattern to the neckline and that was my judgement on where my entry and exit would be.
Well here we have a bullish rectangle, once the market starts to consolidate into this pattern you should aspect that a bullish move is about to happen but I always keep an opposite trade in place just in case something weird happens.
On this hart I marked out a sloppy double top but the concept is the same as every other pattern, ill take an entry at the neckline and ride it down to the same height as the distance between the top to the neckline.
On this chart I have drawn a orange falling wedge to show the reversal pattern and how to place proper entries for when the break out happens.
We identified trade zones. Now I'm going to look at how far the distributional buying and selling points are. The same logic applies to the short position. We can set a stable stop-loss and exit position before waiting trade zone change. I have a good idea of position size, but what is difficult is how many distributional orders come in a trade cycle. I will...
Good morning to the US, Good afternoon to the EU, and Good night to ASIA This post has 2 purposes. 1) Showing you with the video below how to use my indicator Dollar-Cost-Average-Data-Window-Edition/ 2) Collect your likes and move up in the Pine scripters ranking (no shame) Let's start with the first goal here Here's a quick reminder of what's the Dollar Cost...