Welcome to this new tutorial that helps traders and investors better understand the powerful Pine Script programming language v5. In this tutorial, we will program together three Input variables: Color type Input: a color input is a parameter that allows specifying a custom color for the indicator or script. It can be used to set the color of lines, areas,...
Understanding the concepts of relative drawdown and absolute drawdown is crucial for effective risk management and evaluating the performance of trading strategies. In this publication, we will delve into the understanding of both relative drawdown and absolute drawdown. 🔷 Relative Drawdown: (Sometimes referred to as equity drawdown) Relative drawdown is...
Something I can't quite get across to traders, especially new traders is intuition. The dumb ones can't comprehend the subject and the smart ones (probably with a programming background) can't understand anything but an IF/THEN scenario. Problem is trading is an amalgamation of patterns, that don't perfectly repeat but often rhyme and if you're looking for...
This is the first video explaining what "Learn to Read and Trade Any Market" video series will include. Enjoy!
How Can Being an Average Analyst Lead to Profits? The Power of Risk Management and Risk Percentage Introduction : In the world of finance, where exceptional skills and expertise are often sought after, it may seem unlikely that being an average analyst could lead to profits. However, there is a simple formula that can help you achieve good results despite...
Continuing with my objective of shedding light on the often overlooked and undervalued functionalities offered by the platform, I am delighted to delve into the market screener. This sophisticated tool stands as a testament to TradingView's commitment to empowering traders and investors by providing them with a comprehensive solution to efficiently navigate...
Trading is actually super easy, but the overcomplication by Bambi traders and even experienced wannabe traders is monumental. Trading is basically three components; (1) Techniques (2) Risk Management (3) Psychology Techniques are very easy to find, you see them everywhere - finding one with a slightly higher win rate etc seems to be the goal of most traders,...
Building on my previous article, "Top Technical Indicators Pairings", that explored the powerful duo combinations of technical indicators, I am excited to share my research on the top trio combinations of technical indicators. This article aims to shed light on the intricate relationships between different indicators, and how using them in groups of three can...
One of the key principles of successful trading is… Once you have taken the trade to just let it go and allow it to run its course. The system lined up – tick. The entry orders are all in place – tick. It matches your risk and reward criteria – tick. You know your trade size – tick. Now let it go. You may get the urge to interfere, change the levels and...
☝I suddenly had the idea to do another course. There will be no practical tasks in it and it is rather philosophical, i.e. it seems like blah blah blah. And those who are not satisfied with this may not read further, I am aware of this thing. 👍 It is difficult to write about trading. Although it all depends on your view of it and the answer to the question: “What...
Many traders use indicators these days in trading the markets and they certainly have their place. But the most effective method of market analysis remains the method of determining market structure. Trading based on the underlying market structure can be quite easy because the principle is very simple. What is market structure? We look for trading...
These trade setups encompass various important principles for successful trading. Here's a summary of each point: 1. A bad trade or a series of bad trades shouldn't discourage you. It's important to focus on the long-term performance rather than individual trades. 2. Don't let the outcome of your previous trade influence your decision-making for the next trade....
It is impossible to have a prejudice every day. However, it is possible to designate rules, models and criteria in order to exclude decision-making on an emotional basis. Notice, research and record everything that happens before, after and during each of your trades. Pay attention to the time period when errors occur and analyze all the details: triggers,...
QM(Quasimodo pattern) patterns are one of the easiest patterns to identify during market structure analysis. These patterns always form during a market reversal and you can also sometimes find them on supply and demand areas. They usually form at the end of an uptrend or downtrend.
Once upon a time, within the bustling boulevards of Amsterdam amid the 17th century, a progressive thought was born. Dealers assembled in coffeehouses and marketplaces, trading offers of the Dutch East India Company. This was the birth of stock exchanging as we know it nowadays. Word of this modern frame of venture spread like rapidly spreading fire, and before...
Ahoy, fellow traders! So you’re itching to become the Captain Jack Sparrow of trading, eh? Before you swashbuckle through the stock market, you need a treasure map. Enter the Initial Balance trading strategy! This nifty tool can be the compass guiding you through stormy market seas. But hold your horses, we’re not talking about a literal balance here; it's more...
Chart patterns are powerful tools that allow traders to anticipate market movements and make informed trading decisions. This trading idea focuses on mastering various price patterns to enhance trading proficiency. By gaining expertise in recognizing and interpreting chart patterns, traders can identify high-probability trade setups, optimize entry and exit...
Introduction In any field, including trading, feedback plays a vital role in personal and professional development. Post-trade analysis serves as a crucial feedback mechanism for traders, providing insights into their decision-making, strategies, and overall performance. It goes beyond trade results, emphasizing the importance of rational and systematic trading...