As you trail the stop loss with the 6 Day RPR, remember to maintain discipline by not moving the stop loss back away from the retracing market. In other words, if you raise your stop loss, then keep it there. Period. ONLY MOVE THE STOP LOSS TO TIGHTEN AND NOT TO LOOSEN THE DISTANCE. This rule applies to whatever indicator or means you are using to trail your stop...
Please view my twitter for the original trade post. The link for my twitter is found on my TradingView page.
In part 1 we discussed how to identify a trend and the importance of understanding the time horizon. Please start with that post so that you understand how I identify trends. Rules of Thumb The longer the time frame = the lower the risk The shorter the time frame = the higher the risk The higher the leverage = the higher the risk The lower the leverage =...
Before Entering Start the by writing down predictions for what I expect to happen before the end of the day. 1 day | 1 week | 1 month predictions: Make projections for what is expected to happen during the listed time frames Previous analysis/position: Review yesterday’s analysis to remember what your thought process was Patterns: Established patterns outweigh...
I recently watched this podcast with Tone Vays. Tyler Jenks was the guest and he started out by saying: "This is the greatest opportunity I have seen in financial markets." It just so happens that I have been studying parabolic theory as it relates to hyperwaves. I am using that information to develop a trading strategy that is aimed towards capitalizing on...
In this video I discuss, using a recent live trade, how dynamically managing trades is superior to the "set it and forget it" approach to stop loss and profit taking levels.
Testing out some ideas from Trader Dante to improve my stop-losses.
Head & Shoulders Pattern 1. Introduction 2. Definition 3. Qualities 4. Example 5. Conclusion 1. Introduction I realize the Head & Shoulders pattern is a common pattern most traders know. However, I feel that too many traders don't identify them properly nor realize the actual makeup of a H & S. There are two types of Head & Shoulders: Inverse, and...
Text version of this video is available here: Thank you for watching and please support by clicking like on this analysis, do the same for the text version in the link above. :) Like, follow, share and interact to help me stay motivated to keep these trending. Thank You!
Hello Traders, I am back with yet another helpful lesson for y'all. This one is a must needed for any trader, and it is extremely important to get this right. A lot of people face a situation when they buy a coin at a higher price, and it just starts going down, and you just hold it in the hopes that it will go up soon. But instead, it just keeps going down more...
This is based on the Bitcoin Market Cycle 2017 - 2018. Please note that this for Uptrend Market and it's totally Opposite for Downtrend Market if you are able to Short. Also note that you can apply the same for any Market not just for Bitcoin. - In a Uptrend We have 5 Waves followed by 3 Corrective Waves - In that 5 Waves 1,3 & 5 are Impulsive Waves Going up...
In this video I look over a few indices and the VIX. There is a problem i.e. the news is saying one thing, but the charts are showing something rather different. I look at some trendlines, channels and patterns. After many years in trading I'm no longer obsessed with the names of various patterns. The overall pattern is what interests me more. The news is...
Keep this in mind. Only one trade without stop loss can burn your capital. A stop loss is an indispensable tool allowing you to limit your losses. It is also a level from which you feel that your scenario will not happen anymore. It is mandatory on every position if you want to keep your money safe. See it like an insurance policy. In case the trade is going...
Many a trader will have made their best analysis based on information at the time and then taken an entry position, only to find that the market does something unexpected. Price may move violently in the wrong direction i.e. not the favoured direction and comes close to a stop loss or actually stopping out the position for a loss. Now with hindsight a trader feels...
DISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". Last week I published a small "idea" for a quick scalp on the CADJPY. I noticed an uptrend that I didnt expect to go past a...