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Trading Psychology

How To Get Out of a Good Trade? - Setting Your TPHi Traders, today's topic regarding 'How To Get Out of a Good Trade? - Setting Your TP' . Are you still struggling to set a proper profit target? Or are you still watching some of the best trades reverse against you? It can be frustrating sometimes watching some of the best runners turn into a breakeven OR losing trade. These are some of the methods I personally use to get out of a great position ( Trade Management ) 1. Technical levels (S&R zones) - This is mostly related to 'set and forget' type setup, you identify everything before hand, set your TP at key levels (broader thesis), leave it to run. But one thing when you're setting your target at key levels, you have to first understand the market condition then compare it to the current volatility. Eg. if the market is in a choppy range and you're setting your target at the all-time-high, it makes no sense (unrealistic) . - Also know that S&R are zones, so if you're setting your target at the absolute tip of the resistance, there'd be times where market just reverse against you, because mostly likely you've neglected the " zone " factor 2. Trailing Stops (Moving averages OR Prior high/ low) • Moving Averages This is great when you're looking for an extension sort of market movement, such as trading a flag/ exhaustion pattern. You're betting that the market will keep banging into your intended direction. How to trail it? You must first Identify the strength of the trend - Medium OR Weak trend (deep pullback) = 50ema to trail it - Strong trend (shallow pullback) = 18ema to trail it • Prior high/ low This is great when the market is in a strong trend, and your thesis is telling you that it MUST respect the higher highs & higher lows/ lower highs & lower lows sequence - Go down to lower timeframe such as 15m, everytime when price forms a minor level, trail your stops to that structural area - This method also helps you to keep track with the fresh momentum If you're constantly watching the market reverse against you, there few main issues are - You're having your target way too far (unrealistic TP), identify the daily ATR, then understand the probable and possible. - You're looking for an extension move in a ranging condition (market isn't going to keep ripping into one direction, there will be times where it ranges, this is when you MUST have a realistic target such as setting them at previous swing high/ low) 3. Fixed RR This is great if you're looking for a more systematic method to handle your TP & emotion at the same time - Eg 1:3RR - But by using this method, you'd somehow decrease your long-term expectancy as you're getting out of position way too soon sometimes - Yes you do eliminate some effort to figure out your TP in every setup, but you'd tend to have many ' re-entries ' too, as the frustration of getting out of a good position too early is overwhelming too. Feel free to comment below what's your worst nightmare in trading! "I know where I'm getting out before I get in." - Bruce Kovner Trade safe as usual. Do follow my profile for daily fx forecast & educational content.
KRAKEN:BTCUSDEducation
by TraderNeoh
33
Should You Use Sessions Indicator?If you are new to trading Forex, should you have sessions indicator on your charts? Yes, 100%. Why, most of the liquidity and volume happens at end of Tokyo session to end of London session. This involved Tokyo/London overlapping one hour and London/New York overlapping four hours. You need to understand that price action during Tokyo session mostly ranges or goes sideways. You need to understand that price action during London session will mostly do a fakey or false move in wrong direction, then start trending. You need to understand that price action during New York session will mostly continue same direction of London session and/or reverse trend. You need to understand that price action after London session closes, will decrease with both liquidity and volume dropping suddenly for rest of session. Note: You need to know that 1st hour of any new sessions have the highest spreads and are not for trading, but for setting up future possible trades. Finally, from 10 p.m. to 2 a.m. PST/USA- either high or low of day will be made, 80% of time- then you can trade in trend direction of day. Sessions Indicator will keep you trading the right pair, at the right price, at the right time of day and during the right sessions. Why, trade AUDJPY during New York Session when both Sydney and Tokyo sessions are closed? Commonsense and keeping trading simple will help your bottom line, in Forex. The sessions indicator will work with any time-frame under 4 hours and keep a visual reminder of what session is open and closed - F.Y.I.
Education
by Anbat
All candlestick patterns for Trading : Bullish reversal patternsHello everyone 😃 In this article we present Most useful bullish reversal patterns of candlesticks and How to trade with them. ( Sorry for my irregular chart 🤦‍♂️ I'm not good in drawing 😁 ) 📊 What is Candlestick charts ? Candlestick charts are a type of financial chart for tracking the movement of securities. They have their origins in the centuries-old Japanese rice trade and have made their way into modern day price charting. Some investors find them more visually appealing than the standard bar charts and the price actions easier to interpret. Candlesticks are so named because the rectangular shape and lines on either end resemble a candle with wicks. Each candlestick usually represents one day’s worth of price data about a stock. Over time, the candlesticks group into recognizable patterns that investors can use to make buying and selling decisions. 📍 Bullish reversal Candlestick Patterns : Over time, groups of daily candlesticks fall into recognizable patterns with descriptive names like three white soldiers, dark cloud cover, hammer, morning star, and abandoned baby, to name just a few. Patterns form over a period of one to four weeks and are a source of valuable insight into a stock’s future price action. Before we delve into individual bullish candlestick patterns, note the following two principles: 1- Bullish reversal patterns should form within a downtrend. Otherwise, it’s not a bullish pattern, but a continuation pattern. 2- Most bullish reversal patterns require bullish confirmation. In other words, they must be followed by an upside price move which can come as a long hollow candlestick or a gap up and be accompanied by high trading volume. This confirmation should be observed within three days of the pattern. 📌 The bullish reversal patterns can further be confirmed through other means of traditional technical analysis—like trend lines, momentum, oscillators, or volume indicators—to reaffirm buying pressure. There are a great many candlestick patterns that indicate an opportunity to buy. We will focus on five bullish candlestick patterns that give the strongest reversal signal. 🈺 Now let's talk about patterns that we provided on chart.. ! - Hammer : Hammers have a small real body and a long lower shadow. 📚 The hammer candlestick shows sellers came into the market during the period but by the close the selling had been absorbed and buyers had pushed the price back to near the open. - Inverted hammer : The Inverted Hammer formation is created when the open, low, and close are roughly the same price. Also, there is a long upper shadow which should be at least twice the length of the real body. 📚 The Inverted Hammer candlestick formation occurs mainly at the bottom of downtrends and can act as a warning of a potential bullish reversal pattern. - Dragonfly DOJI : The open, high, and close prices match each other, and the low of the period is significantly lower than the former three. This creates a "T" shape. 📚 A dragonfly DOJI after a price decline warns the price may rise. If the next candle rises that provides confirmation. - Bullish kicker : This pattern is characterized by a sharp reversal in price over the span of two candlesticks. 📚 Traders use kicker patterns to determine which group of market participants is in control of the direction. - Bullish spinning top : A spinning top is a candlestick pattern that has a short real body that's vertically centered between long upper and lower shadows. 📚 Spinning tops are a sign of indecision in the asset; the long upper and lower shadows indicate there wasn't a meaningful change in price between the open and close. - Bullish engulfing : This pattern appears in a downtrend and is a combination of one dark candle followed by a larger hollow candle. 📚 Bullish engulfing patterns are more likely to signal reversals when they are preceded by four or more black candlesticks. - Bullish harami : It is generally indicated by a small increase in price (signified by a white candle) that can be contained within the given equity's downward price movement (signified by black candles) from the past couple of days. 📚 A bullish harami is a candlestick chart indicator for reversal in a bear price movement. - Tweezers bottom : A tweezers bottom occurs when two candles, back to back, occur with very similar lows. 📚 Tweezers are more meaningful as part of other trends, especially pullbacks. - Morning star : A morning star is a visual pattern made up of a tall black candlestick, a smaller black or white candlestick with a short body and long wicks, and a third tall white candlestick. 📚 The middle candle of the morning star captures a moment of market indecision where the bears begin to give way to bulls. The third candle confirms the reversal and can mark a new uptrend. - Morning DOJI star : A Morning Doji Star consists of a long bearish candle, followed by a Doji that has gapped below it, then a third bearish candle that closes well within the body of the first candle and in doing so confirming the reversal. It is considered a strong bullish price reversal candlestick pattern. 📚 It is considered as a signal of a potential upcoming reversal of the current trend of the market. - Bullish abandoned baby : It forms in a downtrend and is composed of three price bars. The first is a large down candle, followed by a doji candle that gaps below the first candle. The next candle opens higher than the doji and moves aggressively to the upside. 📚 This pattern signals the potential end of a downtrend and the start of a price move higher. - Three white soldiers : The pattern consists of three consecutive long-bodied candlesticks that open within the previous candle's real body and a close that exceeds the previous candle's high. 📚 Three white soldiers are considered a reliable reversal pattern when confirmed by other technical indicators like the relative strength index (RSI). 📌 These candlesticks should not have very long shadows and ideally open within the real body of the preceding candle in the pattern. - Three line strike : The bullish formation is composed of a big green candle, 3 up candles, and one down candle erasing the advance made by the prior 3 candles. 📚 After prices trend in a particular direction, they will pause before refreshing higher. This is seen as a continuation pattern and is different from a pattern that would signal a reversal. - Three inside up : The three inside up pattern is a bullish reversal pattern composed of a large down candle, a smaller up candle contained within the prior candle, and then another up candle that closes above the close of the second candle. 📚 Consider using these patterns within the context of an overall trend. For example, use the three inside up during a pullback in an overall uptrend. 📌 These patterns are short-term in nature, and may not always result in a significant or even minor trend change. - Three outside up : The three outside up and three outside down patterns are characterized by one candlestick immediately followed by two candlesticks of opposite shading. 📚 Three outside up/down are patterns of three candlesticks that often signal a reversal in trend. 📌 Each tries to leverage market psychology in order to read near-term changes in sentiment. - Three stars in the south : It is formed by three black or red (down) candles of decreasing size following a price decline. 📚 The pattern indicates a bullish reversal, although the price should ultimately move in the expected direction before taking a trade. This is called confirmation. 📌 The three stars in the south candlestick pattern is a very rare pattern that doesn't typically precede large price moves. - Bullish stick sandwich pattern : One candlestick pattern is the stick sandwich because it resembles a sandwich when plotted on a price chart - they will have the middle candlestick oppositely colored vs. the candlesticks on either side of it, both of which will have a larger trading range than the middle candlestick. 📚 Candlestick charts are used by traders to determine possible price movement based on past patterns; These patterns may indicate either bullish or bearish trends, and so should be used in conjunction with other methods or signals. - Matching low : The matching low pattern is created by two down candlesticks with similar or matching closing prices. 📚 The pattern occurs following a price decline and signals a potential bottom or that price has reached a support level. - Break breakaway : The first candle in the formation is long and black. The second candle is also long gaps away from the first in the direction of the trend. The third candle can be either color, but does not show a change in trend direction. The fourth candle continues in the direction of the proceeding trend. The fifth candlestick has a long white body, opens against the trend and continues in that direction to close the gap. 📚 The Bullish Breakaway pattern is a five candle reversal formation that occurs during a downtrend. - Bullish Tri-Star : Tri-Star patterns form when three consecutive DOJI candlesticks appear at the end of a prolonged trend. 📚 A Tri-Star is a three line candlestick pattern that can signal a possible reversal in the current trend, be it bullish or bearish. 📍 A Tri-Star pattern near a significant support or resistance level increases the probability of a successful trade. - MARUBOZU : A large real body, There will be no shadow at either sides of the candle, The color of the candle will be of a significant meaning. 📚 MARUBOZU means “bald head” or “shaved head” in Japanese, and this is shown in the absence of wicks or shadow on the candlestick, meaning that the opening or closing price will be the same as the maximum prices of the candle. The absence of shadow indicates that the trading session opened at a high price and close at a low price at the end of the day (or the opposite). 🔴 NOTES : - There are many bullish reversal patterns that we only present most useful patterns for trading ! - Most of them have 2 definition and direction ( Bearish and Bullish ) and we only present bullish reversal patterns ! - For better result in your trading, You need to confirm patterns through trend lines, momentum, oscillators, or volume indicators. ⏰ Best timeframes to work with candlestick patterns : Traders usually use Monthly, Weekly, Daily, 4-Hour, Hourly, 15-Minute and even 1-Minute timeframes. Ideally, traders pick the main timeframe they are interested in and then choose a longer and a shorter timeframe to complement the main one. The longer timeframes typically contain fewer and more reliable signals. The shorter timeframes usually contain more signals with less accuracy. There are several types of traders, and they have different trading styles. 📍 We will provide more contents for candlestick patterns in next weeks ! So stay tuned and support us with your LIKES, COMMENTS and FOLLOWINGS... Have a great moments. @Helical_Trades
NSENG:ACADEMYEducation
by Helical_Trades
122
A different side of the storyWhenever the price is at a structure/zone/psychological level, market makers always find a way to build momentum before moving the market. I know a lot of people who post videos on youtube explaining some terms and market approach never touch the part of being trapped by the market makers and also failing to detect a pullback or reversal. This knowledge is needed and can only be obtained by those who really want to know how the BANKS trade against us. So lemme cut it short, as soon as the price is at a level, market makers give false signals/ bait to a lot of new traders or even old traders and they all take it at the same period of time. Its not that they know exactly where your stops are, or how much is on your account. They just move against you and you with a small account will be trapped in the hunt for the big accounts stops. So my advice to you is to always wait for this hunts to happen and sell or buy after that, Dont be a break and retest trader. Its very dangerous.
Education
by ChartW1zard
2
The Psychological DANGER of Counter-Trend TradingI see many traders consistently trying to fade the trend, but be careful. In this post, I will explain the psychological problem that can arise from it. Every time you get something that you want in life or that is pleasurable, you get positive reinforcement, and your brain says "I want more of that stuff" and then the brain says: "Keep doing what you are doing" ---> Behavior is learned. (Your neurons in your brain got linked together). Once the behavior is learned, and the neurons linked, it is very hard (near impossible according to behavioral science) to extinguish this learned behavior! Old habits die hard. Thus, the trader keeps doing the behavior that over the long run will generate losses. WHY? because reversal points are momentary while trends are prolonged and if the trader is trying to constantly make money out of the market, he continues to do the learned behavior, hoping that "NOW there must be a big correction", even though a correction can be many months in the future. So now you are probably asking: "ok Mr. Ph.D. in psychology, what is your solution? I already learned the wrong behavior, am I doomed?" According to science, there is hope, instead of trying to extinguish the behavior, you need to re-write it with the new behavior (replace it with a new behavior). What does it mean in a trading context? That means that if you are in the past got burned from counter-trend trading, it is recommended to join the trend --> you will generate profits ---> positive reinforcement ---> newly learned behavior ---> ah-ha moment
NASDAQ:AAPLEducation
by ZoharCho
1
5 Tips for Newbie Trader💯1. Two dangerous extremes On the way to making a stable income in the financial markets, newbie traders face two extremes: a) First - you can learn a lot and for a long time, but you still can't go to real trading. b) The second is to start without knowledge. Both paths lead to failure. By the way, it is the traders who have lost funds from ignorance of the principles of trading, and mainly create a negative image of the financial markets. You can't make money without knowledge! And to separate the process of gaining knowledge from practice too. Therefore, a beginner in the financial markets must both learn and practice. 2. Best instruments to trade for a newbie trader Now forex brokers provide a wide range of financial instruments within one trading platform: currency pairs, CFD contracts on stocks, futures , cryptocurrencies, commodities ( oil , gold , silver , etc.). It's easy for a beginner to get lost in this variety. In order to facilitate the choice, study separately the features of the different types of markets. 3. Trading psychology: the third pillar of successful trading An important factor to pay attention to when reading books for beginner traders is the ability to manage your own emotions. Trading is an amazing area. All your habits, behavior patterns, strengths and weaknesses of character are immediately reflected in the trading account and bring results in monetary terms. So you either earn or lose. Newbie trader, faced with a storm of emotions in the process of trading, should know: he is not alone. Most traders experience the same feelings, and those who have been making money in this area for a long time have learned to turn them to their advantage. And we are ready to share tips. 4.What a beginner trader needs to know about money management You already know that trading in financial markets is a high risk area. However, this risk is completely manageable, and if you know how to do it, you will be able to earn consistently. In addition to a profitable trading strategy, a trader needs an understandable money management system and competent risk management. The safety of your account depends on them. Here are the ingredients for a good money management system: a) Stop loss. It must be set correctly, according to the requirements of the market and your trading strategy. It will allow you to reduce your risk if your prediction turns out to be wrong or out of date. b) The ratio of risk and reward in each trading position. Usually trading strategies provide for it at a level of 1: 3 and higher. The minimum allowed ratio is 1: 2, only then the deal makes sense. c)The volume of the trade entry. Along with a stop loss, it determines how much or a percentage of your trading account you risk on each trade. d) Risk per position. Based on the mathematical expectation of a trading strategy, it is necessary to decide what percentage will be the maximum risk in each transaction. The smaller it is, the safer your trade. 5. Trading and life: how to organize your work So, you have decided to start making money through trading. Motivating pictures with a trader who sits under a palm tree with a cocktail in his hands and spends an hour a day to check how profit is dripping into his account - this is clearly not about the start of a career. At the very beginning (and eventually too) you need to have an organized working day for trading. 1) Set aside time on weekdays that you will devote to trading. 2) Do not combine it with other activities: dinner, watching TV series, spending an evening with your family, etc. Trading requires extreme concentration. 3) If you are a beginner, take the study plan presented in this article, allocate the stages in time and systematically, without scattering, move along it to your first profit. 4) Before you start trading, do a market analysis every day. ___________________________________________________ P.S. Can you add more, wolves?🔥
HITBTC:CRDTUSDEducation
by Berzerk_invest
9
All candlestick patterns for Trading : Bearish reversal patternsHello everyone 😃 In this article we present Most useful bearish reversal patterns of candlesticks and How to trade with them. ( Sorry for my irregular chart 🤦‍♂️ I'm not good in drawing 😁 ) 📊 What is Candlestick charts ? Candlestick charts are a type of financial chart for tracking the movement of securities. They have their origins in the centuries-old Japanese rice trade and have made their way into modern day price charting. Some investors find them more visually appealing than the standard bar charts and the price actions easier to interpret. Candlesticks are so named because the rectangular shape and lines on either end resemble a candle with wicks. Each candlestick usually represents one day’s worth of price data about a stock. Over time, the candlesticks group into recognizable patterns that investors can use to make buying and selling decisions. 📍 Bearish reversal candlestick patterns : Bearish reversal candlestick patterns can form with one or more candlesticks; most require bearish confirmation. The actual reversal indicates that selling pressure overwhelmed buying pressure for one or more days, but it remains unclear whether or not sustained selling or lack of buyers will continue to push prices lower. Without confirmation, many of these patterns would be considered neutral and merely indicate a potential resistance level at best. Bearish confirmation means further downside follow through, such as a gap down, long black candlestick or high volume decline. Because candlestick patterns are short-term and usually effective for 1-2 weeks, bearish confirmation should come within 1-3 days. To be considered a bearish reversal , there should be an existing uptrend to reverse. It does not have to be a major uptrend, but should be up for the short term or at least over the last few days. A dark cloud cover after a sharp decline or near new lows is unlikely to be a valid bearish reversal pattern. Bearish reversal patterns within a downtrend would simply confirm existing selling pressure and could be considered continuation patterns. There are many methods available to determine the trend. An uptrend can be established using moving averages, peak/trough analysis or trend lines. A security could be deemed in an uptrend based on one or more of the following : - The security is trading above its 20-day exponential moving average (EMA). - Each reaction peak and trough is higher than the previous. - The security is trading above a trend line. 🈺 Now let's talk about patterns that we provided on chart.. ! - Hanging man : The hanging man is characterized by a small "body" on top of a long lower shadow. The shadow underneath should be at least twice the length of the body. 📚 The hanging man represents a potential reversal in an uptrend. While selling an asset solely based on a hanging man pattern is a risky proposition, many believe it's a key piece of evidence that market sentiment is beginning to turn. The strength in the uptrend is no longer there. - Gravestone DOJI : A gravestone DOJI is a bearish reversal candlestick pattern that is formed when the open, low, and closing prices are all near each other with a long upper shadow. 📚 A gravestone DOJI is a bearish pattern that suggests a reversal followed by a downtrend in the price action. 📌 A gravestone pattern can be used as a sign to take profits on a bullish position or enter a bearish trade. - Bearish kicker : This pattern is characterized by a sharp reversal in price over the span of two candlesticks. 📚 Traders use kicker patterns to determine which group of market participants is in control of the direction. 📌 The pattern points to a strong change in investors' attitudes towards a security that typically follows the release of valuable information about a company, industry, or economy. - Shooting stars : A shooting star is a bearish candlestick with a long upper shadow, little or no lower shadow, and a small real body near the low of the day. 📚 A shooting star occurs after an advance and indicates the price could start falling. The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open. - Bearish spinning top : A spinning top is a candlestick pattern that has a short real body that's vertically centered between long upper and lower shadows. 📚 The real body should be small, showing little difference between the open and close prices. 📌 Since buyers and sellers both pushed the price, but couldn't maintain it, the pattern shows indecision and that more sideways movement could follow. - Bearish engulfing : A bearish engulfing pattern is a technical chart pattern that signals lower prices to come. The pattern consists of an up (white or green) candlestick followed by a large down (black or red) candlestick that eclipses or "engulfs" the smaller up candle. 📚 A bearish engulfing pattern can occur anywhere, but it is more significant if it occurs after a price advance. This could be an uptrend or a pullback to the upside with a larger downtrend. 🔴 The pattern can be important because it shows sellers have overtaken the buyers and are pushing the price more aggressively down (down candle) than the buyers were able to push it up (up candle). - Bearish harami : A bearish harami is a two bar Japanese candlestick pattern that suggests prices may soon reverse to the downside. The pattern consists of a long white candle followed by a small black candle. The opening and closing prices of the second candle must be contained within the body of the first candle. An uptrend precedes the formation of a bearish harami. 📚 A bearish harami is a candlestick chart indicator for reversal in a bull price movement. 📌 Traders can use technical indicators, such as the relative strength index (RSI) and the stochastic oscillator with a bearish harami to increase the chance of a successful trade. - Dark cloud cover : Both candles should be relatively large, showing strong participation by traders and investors. When the pattern occurs with small candles it is typically less significant. 📚 Dark Cloud Cover is a candlestick pattern that shows a shift in momentum to the downside following a price rise. The pattern is composed of a bearish candle that opens above but then closes below the midpoint of the prior bullish candle. 📌 Traders typically see if the candle following the bearish candle also shows declining prices. A further price decline following the bearish candle is called confirmation. - Evening star : An evening star is a stock-price chart pattern used by technical analysts to detect when a trend is about to reverse. It is a bearish candlestick pattern consisting of three candles: a large white candlestick, a small-bodied candle, and a red candle. 📚 Evening star patterns are associated with the top of a price uptrend, signifying that the uptrend is nearing its end. - Evening DOJI star : The Evening DOJI Star is a bearish reversal pattern, being very similar to the Evening Star. The only difference is that the Evening Doji Star needs to have a doji candle (except the Four-Price Doji) on the second line. The DOJI candle (second line) should not be preceded by or followed by a price gap. 📚 The pattern, as every other candlestick pattern, should be confirmed on the next candles by breaking out of the support zone or a trendline. If the occurrence is confirmed, then its third line may act as a resistance area. It also happens, however, that the pattern is merely a short pause prior further price increases. - Bearish abandoned baby : A bearish abandoned baby is a specialized candlestick pattern consisting of three candles, one with rising prices, a second with holding prices, and a third with falling prices. Technical analysts expect that this pattern signals at least a short-term reversal in a currently upward trending price. 📚 This is a rare pattern that has a fairly strong track record for forecasting a short-term downward trend. The key item of the pattern is the middle day, which should have a gap in front of it and following it, and which should close the session with price unchanged. - Three black crows : The black crow pattern consists of three consecutive long-bodied candlesticks that have opened within the real body of the previous candle and closed lower than the previous candle. 📚 Three black crows is a bearish candlestick pattern used to predict the reversal of a current uptrend. Traders use it alongside other technical indicators such as the relative strength index (RSI). - Tweezer top : A tweezers topping pattern occurs when the highs of two candlesticks occur at almost exactly the same level following an advance. 📚 Tweezers are more meaningful as part of other trends, especially pullbacks. - Three inside down : The three inside down pattern is a bearish reversal pattern composed of a large up candle, a smaller down candle contained within the prior candle, and then another down candle that closes below the close of the second candle. 📚 The down version of the pattern is bearish. It shows the price move higher is ending and the price is starting to move lower. Here are the characteristics of the pattern. - Three outside down : The three outside down describe a pair of three-candle reversal patterns that appear on candlestick charts. The pattern requires three candles to form in a specific sequence, showing that the current trend has lost momentum and might signal a reversal of an existing trend. 📚 The first candle marks the beginning of the end for the prevailing trend as the second candle engulfs the first candle. The third candle marks an acceleration of the reversal. - Advance block : Advance block is the name given to a candlestick trading pattern. The pattern is a three-candle bearish setup that is considered to be a reversal pattern—a suggestion that price action is about to change from what had been an upward trend to a downward trend in relatively short time frames. 📚 An advance block is a three-period candlestick pattern considered to forecast a reversal. The pattern's success at predicting reversal is barely above random. - Bearish stick sandwich : One candlestick pattern is the stick sandwich because it resembles a sandwich when plotted on a price chart - they will have the middle candlestick oppositely colored vs. the candlesticks on either side of it, both of which will have a larger trading range than the middle candlestick. 📚 These patterns may indicate either bullish or bearish trends, and so should be used in conjunction with other methods or signals - Matching high : The first line of the pattern appears as a long line whereas the second one can be either long or short. Both candle lines need to close at the same level. Additionally, the opening of the second candle need to be higher than the opening of the previous candle. 📚 The Matching High is built of two MARUBOZO candles having white bodies. In other words, it can be a White MARUBOZO or a Closing White MARUBOZO. - Bearish breakaway : The bearish breakaway is a formation of five candlesticks where the first is always bullish and the last is always bearish. The middle candlesticks will be rising and can be either bearish or bullish, but will usually be bullish. 📚 A bearish breakaway is a chart formation that can appear in a rising market when the price starts to pull or break away gradually to the downside. - Bearish Tri-Star : Tri-Star patterns form when three consecutive DOJI candlesticks appear at the end of a prolonged trend. 📚 A Tri-Star pattern near a significant support or resistance level increases the probability of a successful trade. - MARUBOZO : The black MARUBOZO is simply a long black (down, or red on the charts below) candle, with little to no upper or lower shadows. The pattern shows that sellers controlled the trading day from open to close, and is therefore a bearish pattern. 📚 How to avoid false MARUBOZO signals and setting stop-loss : If bearish, take a short when price falls below; Place a stop above candlestick. 🔴 NOTES : - There are many bearish reversal patterns that we only present most useful patterns for trading ! - Most of them have 2 definition and direction ( Bearish and Bullish ) and we only present bearish reversal patterns ! - For better result in your trading, You need to confirm patterns through trend lines , momentum, oscillators, or volume indicators. ⏰ Best timeframes to work with candlestick patterns : Traders usually use Monthly, Weekly, Daily, 4-Hour, Hourly, 15-Minute and even 1-Minute timeframes. Ideally, traders pick the main timeframe they are interested in and then choose a longer and a shorter timeframe to complement the main one . The longer timeframes typically contain fewer and more reliable signals. The shorter timeframes usually contain more signals with less accuracy. There are several types of traders, and they have different trading styles. 📍 We will provide more contents for candlestick patterns in next weeks ! So stay tuned and support us with your LIKES, COMMENTS and FOLLOWINGS... Have a great moments. @Helical_Trades
NSENG:ACADEMYEducation
by Helical_Trades
57
The Importance of a Trading Plan - How To Create One?Hi Traders. Today's topic is regarding 'How To Create a Trading Plan?'. Throughout my personal trading career, trading plan is often neglected by majority of novice Traders. A trading plan shouldn't be something complicated and heavy, simplicity is the key. Set realistic objectives and checklists that you are able to stick to it strictly on a daily basis. These are some of the important elements should be included 1. Instruments Know which instruments you are trying to focus on. In your earlier phase, focus on one instrument, really dig into it, put in the work to master the craft. 'Diversification may preserves wealth, but concentration builds wealth.' - Warren Buffett 2. Timeframe Multiple timeframe / Top-Down analysis is vital, it allows you to identify the long-term trend & short-term sentiment. But avoid distracting yourself with too many timeframes OR irrelevant timeframes. I'd always suggest to not look at more than 3 timeframes. A. Entry timeframe: Identify a timeframe that you'd find your entry triggers and place your trade, such as 5-30m charts (Lower timeframe) B. Analyzing timeframe: Identify two higher timeframes that'd allow you to view the bigger picture better, such as 1h - 4h charts (Higher timeframe) Eg. If you are a scalper, it is pointless for you to analyze the weekly chart. Eg. If you are a swing trader, looking at the 5m chart could be too intensive for your brain. 3. Risk Management This is the most important aspect that'd determine your long-term profitability. A. Risk per trade: Percentage-based risk is the most common method to manage your risk, such as 1-2% risk per trade. B. Maximum daily & weekly drawdown: Identify what's the worst scenario you'd allow yourself to sink into. There will be times where you are trading on tilt, things just get worse. This is when your maximum drawdown comes into play, pulling yourself out of the emotional vortex , prevent yourself from those irrational behaviour. 4. Personal Strengths & Weaknesses Explore your personality. Trading is about knowing your strengths & weaknesses, then leverage them into your advantage. There's no way you can completely eliminate emotion in trading, we're all human. But what's more important is to organize your mind to control its performance. A. Aggressive: If you're an aggressive trader, focus more on a trending condition, you should probably avoid the sideway condition (over-trade/ revenge trade tendency) B. Conservative: If you're an overly conservative trader (fear & hesitation elements), you should probably reduce down your checklist and simplify your trading system. 5. Strategies/ System This relates to your personal strengths & weaknesses too. Develop strategies/ system that suit your personality the most, then keep improving it. Identify which market condition you're the best at (Trend/ Range/ Channel), then develop successful strategies to capitalize on these market states. 6. Routine/ Action Plan Successful Traders tend to find trading to be a 'boring' process, they simply scan through charts, identify setups that fits into their criteria. Have a set of routine, simplify them and stick to them everyday even if you feel lazy. Eg. Spend 1h per day to analyze the market before you jump onto any trades Eg. Journal your trades every night Eg. Spend 1h per day to review & reflect your progress If you still don't have a Trading Plan, take action and create one now! 'Success comes from consistency, not what you do occasionally.' - Neoh Trade safe as usual, keep your risk managed. Do follow my profile for daily fx forecast & educational content.
KRAKEN:BTCUSDEducation
by TraderNeoh
6
How to identify a correction for the next impulse move ? How to identify if a correction is finished/completed and ready for the next impulse move ? Hello everyone: In this educational video I will go over how to properly identify a correction in price action analysis. I recently made a price action workshop live stream video that went over everything on impulse - correction, structures/patterns, continuation and reversal corrections, but I still get a lot of questions on identifying corrections itself. How to draw, use the trendlines to identify a correction, and how to understand they are going to complete/finish. In my opinion this is the most important part in technical analysis. We need to understand that the market moves in phrases, it can only be in the impulsive phrase or corrective phrase. The key to trading is to understand when a correction finishes, we are going to get the impulsive phrase which will give us traders a better edge in the market to enter, where the momentum is strong. I have made many educational posts on price action analysis, specifically on continuation or reversal correction, which I will put the links below. Any questions, comments, or feedback welcome to let me know. Thank you Jojo Price Action Workshop www.tradingview.com Impulse VS Correction Continuation and Reversal Correction Multi-time frame analysis Continuation Bull/Bear Flag Reversal Ascending/Descending Channel Reversal Double Top/Bottom Reversal Head & Shoulder Pattern Reversal “M” and “W” style pattern Reversal Impulse Price Action Expanding Structure/Pattern
BINANCE:BNBUSDEducation
by jojofang0901
62
Pending Entry Sell Limit Order (4/4)A pending sell limit is an order placed above price and expecting price then to go down. If you think that price action will continue downwards, but first retrace upwards then use a pending sell limit order. Two risks: Price action not reversing high enough to hit your entry price before going down and second possibility is price action continues upwards hitting your stop loss before going downwards. On noted EurUsd daily chart, trade setup gave a 1:3 risk reward. 50 pip stop loss and 150 pip target or profit. On larger couple or few day trades on higher daily time frames, using lower lot sizes might be part of your risk management and plan.
Education
by Anbat
Pending Entry Buy Limit Order (3/4)If you want to buy a pair at a lower price and think price action will go lower before price action goes higher in your trade direction, then use a pending buy limit order which is placed below current price and if your entry price is hit on its retracement, then buy limit order is activated. You are in trade. Two risks are price retracement does not hit your entry price and take off in a bullish or upper wards direction without your trade and/or price retraces thru your entry prices and keeps going lower and hits your stop loss. To avoid some of these use major support or resistance areas, previous price action left on chart and fib ret tool, which a lot of price reversals hit the 50% to 61.8% then reverse up in bullish trend or major trend direction. On EurUsd daily chart, noted 1:4 risk reward trade with a 40 pip stop/160 pip target. Use the right risk management for your account size and trade according to your plan. Good luck.
Education
by Anbat
Pending Entry Buy Stop Order (1/4)Pending buy stop orders are placed above current market price action, and you expect price to keep on going up. These can be on any time frames, but daily is great if you are too busy to monitor your trades on a short basis. As noted on daily EurUsd chart, on Monday (pink line) a pending buy stop was placed above current price action, once price action later on Monday was hit then trade was activated with a 40 pip stop loss (margin, leverage, lot size etc... your risk management will decide this) and a take profit or target or 1.19000 or 120 pips up, by looking to your left on chart. This would have been a 1:3 risk reward setup, for this set it and forget it trade.
Education
by Anbat
2
Pair? Price? Time? & Session?- Before Entering A New Trade.Before Taking Any New Trades, Ask Yourself These Questions: What pair? Is base currency in current session. What price? Is current price action around round numbers? double zeros or higher are psychological numbers of banks and retailers. *On chart I use .500, .750, .000 & .250 ending numbers which on GBP pairs are quarter levels (or 12.5 pips) zones. Total ADR on this chart is 75 pips. What is current time? Beginning of a session (higher volume & liquidity) during London and New York sessions. What session is set up pattern to enter a new trade? Sydney, Tokyo, London or New York session. Higher volume? Beginning of sessions are a great time to initiate new trades, in direction of momentum and trend. Highest volume and liquidity is between London open to London close time, which is around 12 hours per day. *London overlaps Tokyo and London overlaps New York session. High liquidity? Overlapping sessions (best) and where two major sessions are working, so double liquidity and volume at play. Refer to noted possible five trades that could have been taken on noted 1 hour chart of GBPAUD during Fridays session. A lot of possible profit pips with the right stop losses and risk management- please trade according to your plan and strategy. For entries I use fractals, trends, momentum, volume, liquidity, fib ret reversal levels of (50% to 61.8%-golden zone), engulfing, harami and pin bar candlestick setups to enter with right pair, right price, right time and during right session. Good Luck.
Education
by Anbat
Irrational behavior: Victim mentality, risk & loss aversionPeople that call themselves neuro-economists make all sorts of experiments, the ABCD questions are from Kahneman and Tversky from 40 years ago, I found these examples on stanford website. There was another similar study, or series of studies in Lyon, France. They got people to speculate and when they dangled the carrot in front of them they basically created Bitcoin: Some researchers looked at institution traders and found the ones taking the most risks had the highest male hormones. I wonder how it is for the girls? They sometimes take big risks I'm sure, and let's ignore the dumb gambling mentality ones that's not who I mean. Maybe they rather get into bonds and stick to small risks safe returns? Any degen out there? All the big losing (famous) rogue traders are boys, so maybe there is something here, still I think the main reason is they hold bags and add to them. Nick Lesson is a legend, a superhero, he turned a 20 thousand loss into an 800 million one, why aren't people fighting to hire him? Can I hire the guy? Going to take his valuable advice and do the opposite. 20k into 800,000k! Another legend is Karen the supertrader, I don't think her high T made her lose millions. Just loss aversion and being a complete psychopath. I guess at some point it's not risk taking but loss aversion, technically/logically they are taking enormous risks out of fear of losing, but they are not logical so... Markets have been around 4000 years and derivatives at least 10,000. And people still don't get why. It is a place for risk averse persons yes, but they are the end user, the "client", the markets help out people get rid of their risk at a price. Once again, 0 logic: It makes absolutely no sense that risk-averse and loss-averse players would try to make money in the markets. The subject is fascinating to me, I have this impression I have dropped on an alien planet where nothing makes sense and it feels so fantastic, like I am in a Star Trek episode. I think (I am quite certain of it) we can see this in full display with Bitcoin: These are not winning odds... Also notice all these Bitcoin baghodlers that like to talk a lot in hindsight NEVER tell anyone what their position is and NEVER have an idea on their profile. Emotional (illogical) brain and low hormones (even moar risk aversion) is a bad combination... You look at some people that lied to police to avoid losing their job or reputation and that would never have lied to get the job in the first place... The majority always runs away from profit when it is objectively much better, and instead chooses the much smaller but guaranteed reward. And the majority will choose taking huge not worth it risks to avoid a loss, rather than just take a small loss and be on their merry way. I find it stunning than the majority of people could literally have the holy grail, and they would still mess it up because they are scared. This game (obviously) is not about changing and managing your emotions. Or autists would all be billionaires it's so obvious... Guess who these "it's easy it's all about emotions" ads are targetted to? What it takes is thousands of hours of screen time, practice, backtesting, reading, number crunching. The emotion stuff everyone learns about at the start is just a way to weed out the ones not meant to play this game. There are plenty other activities out there. As far as I am concerned if an individual has it deeply rooted in their subconscious this "bug", there is no way to rewire the brain this deep. For the (13% according to these questions lol) that have the ability to compete, it's a matter of spending the time getting good and rub hands when noobs cheerfully pile in, in a bubble or when trading gets popular in general (and then they create bubbles). The predators can abuse these cheerful greedy noobs and have a huge feast. When they baghold for ages or keep holding the price down it's less interesting though. But part of me wants to have this image of stomping noobs. Well Bitcoin was bagheld more than usual because they saw it go up so many times before (still super irrational and still sold the bottom for the most part, somehow XD), but hey they are pumping the S&P like the Nasdaq in 2000 right? The noobs are also going to sell GME fast right? After buying it up fast. (Sad I can't short). I don't think this info is really useful to be honest, the people without the illogical bug won't get much out of it (it's cool to know where the illogical as regulators say "inefficient" patterns come from), the people with the illogical bug will be in denial and convinced they are part of the winners. Is this anything more than an ego stroke and having a laugh while belittling illogical risk averse people? Well I think it's interesting, and plenty of scientists do too.
Education
by MrRenev
When trading futures pairs, ZOOM OUT!I started trading NEO perpetual futures ( BINANCE:NEOUSDTPERP ) mid to late 2020 IIRC. Binance only had so much history on the trading pair. The "start" price for the coin was $25 and I started trading this pair around the $4 to $5 range. I got comfortable with the pair at the low time frames, I never really looked above 4 hour. I remember when the price reached $19 - $26 range. I'd made decent returns scalping and swing trading at this range. Looking back, I some how shut out the idea that the coin would go any higher, I'd made my money, time to move on to another coin. I wasn't buying spot in these days, at least outside of BTC and ETH, so the thought of holding never crossed my mind. I wonder if i'd had the sense to look at NEOUSDT to see the true price history relative to current prices if I'd have a different perspective on NEO. TLDR; I was a futures scalper, I made some gainz, but futures price action history (on your exchange) starts when the coin gets listed there. that "starting" point on that chart could be a high or a low for this coin. ZOOM OUT! Find an exchange that lists the _full_ coin's price history before you convince yourself the coin has reached its max potential. Not financial advice.
Education
by b6d1016fdeb149be865b678a8ac935
14 EMOTIONAL STATES OF A TRADER1.OPTIMISM. It all starts with a positive outlook on the market situation, which leads the trader to open a trade. The trader is looking forward to future success. 2.EXCITATION. The market starts moving in the predicted direction. The trader anticipates events and hopes that success is assured. 3.TREMBLING. The market continues to move in the direction the trader needs, this is a moment of joyful fading. At this stage, the trader is completely confident in his trading system. 4.EUPHORIA. The point of maximum financial risk. Investments turn into quick and easy profit. The trader completely ignores the risk. 5.ANXIETY. Oh no, the market is turning! The first signs of movement not in favor of the trader appear. But he does not notice this and believes that the market will recover and the trend will continue. 6.NEGATION. The expected market recovery did not happen. The trader does not accept what is happening and remains in the position. 7.FEAR. Reality dictates its own rules, and the trader begins to realize that he is not as smart as he previously thought. Instead of confidence in success, thoughts begin to get confused. 8.DESPAIR. At this point, all profits are lost. The trader had a chance to take profit, but he missed it. Not knowing how to proceed further, he is trying to do everything to return at least to the break-even point. 9.PANIC. The most emotional period. At this stage, the trader feels his ignorance and helplessness and is completely at the mercy of the market. The mind is paralyzed, which sometimes leads to meaningless actions in the market. 10.SURRENDER. The trader has reached the limit of patience and closes the position in order not to increase losses anymore. 11.DESPODENCY. After exiting the market, the trader no longer has the slightest desire to conclude deals. 12.DEPRESSION. The trader begins to blame himself for stupidity, for why he did not close the deal on time. Some choose the right path and begin to analyze what went wrong. True traders are born at this stage, studying past mistakes and drawing conclusions. 13.HOPE. “I can still do it!” Eventually, the trader returns to the realization that there are indeed cycles in the market. He begins to analyze new possibilities. 14.FAITH. At this stage, the trader regains faith in his future in the market and starts trading again.
Education
by Berzerk_invest
248
Irrational behavior: Fleeing winnersI do not know if one is born a trader but I know one can be born NEVER a trader. Those that have these bugs in their programming that make them do things that make absolutely no sense, there is no point even trying, they are set to fail from the start. I think learning about your own tender feelings is totally useless, if you have these tender feelings I am pretty sure you'll never make it no matter how many excuses how throw at reality, which is yet another irrational thing to do and so silly to expect it to make a difference 🤷‍♂️. But learning about other people tender feelings is certainly interesting. Running winners is variable the ultimate objective is not to be a robot. And the variable might be increasing right now which is a reason for me to write this little piece. First of all I think this period of the year is more lively than the winter, but also notice the pattern americans are following: "In the first round of economic impact payments, households set aside 29% of their checks for consumption. In the second round, that fell to 26%, and in the most recent round fell to 25%." The S&P 500 broke out of the Donald Trump trade war broadening wedge. It remained above, kept going up, now even broke 4000 and bears are getting slaughtered, skeptics are slowly being convinced it won't crash like 2008. You know the saying "1 by 1". Americans fear is diminishing, unless it's just they have no choice, I think their fear is reducing, and they are spending more willingly, gambling some of it on meme stocks. We saw the Yen do this thing it sometimes does. Lots of money is being printed, activity around the world is growing. I think we can expect big trends, Forex was creating depressions with how bad and tight it had gotten. Finally! Trying to run winners for kilometers in a calm market is stupid, but not as stupid and running away from winners like they are Michael Myers. Nobody makes money being a (redacted: kitty-cat). The whole idea is to catch big winners. It's the whole point of the markets. They trend. The idea is that when the market has a big move in a direction you sometimes catch it, and when it has a big move against you you NEVER catch it. Why would markets even exist? Why would anyone ever need to hedge? It's so stupid I can't believe it. Hedgers = avoid market exposure, avoid all moves. Speculators = take the risk from hedgers, want market exposure. Noobs = Only want market exposure when they lose????? Imagine this, get in the mind of losing traders: You sell, the price goes down, and down, and then there is a pullback with a perfect double top or whatever you like and would normally sell every day of the week. But BECAUSE YOU ARE WINNING YOU DON'T? Lol? And then to "go faster" they go take huge positions that destroy them, and get into day gambling and so on. These lose-loving bagholders are the reason why Bitcoin only bottomed AFTER they capitulated in March 2020 when (and weeks after) the price collapsed 60% in a few hours. Gamblers addicting to losing were constantly selling the instant Bitcoin went up and buying heavy bags as it went down which leads to more selling pressure (after a buyer buys, he becomes a potential seller). Once all the - most of them - quick quick gambling bagholders got wiped out, there was no more run-away-from-winner losers preventing Bitcoin from going up. I have been buying US indices since October and I have no intention to stop. If I have urges to "play" like day gamblers do, I'd much rather buy a bit more of S&P. Does not have to be much. 10 bucks turbos with a 2-10% KO (so 100-500 bucks worth of S&P) every day is objectively smarter than day gambling every day on it with a few hundred bucks. If it keeps going you can turn a small account into a small fortune. At some point just have to be careful the risk is limited and the exposure does not become insane. Can always sell and then buy back. Say you had a call, close it and buy a new larger one. Just to make sure if it goes 1987 or 6 may 2010 all these gains are not lost but this is not the same as just exiting and that's it, you're still under exposure to that winner, just making sure risk is limited, and profit is not. As it keeps going these profits can snowball into something so monstruous not even kidding. Start with an initial 50 bucks risk end up with a 150,000 euros win dead serious. Meanwhile some ****** idiot made 30 bucks as soon as it went up. And felt good about it. Good job man! On Bitcoin the noobiest of them all, you can see bagholders breakeven at areas where they previously bought. No one gets greedy and just wants to keep piling in into winners and bulldoze their way up?
Education
by MrRenev
2
How to stick to your trading plan / not close early trades.Once you have your strategy on how to grow your account, risk managment and your watchlist. The only problem is a traders psychology. You could have problems with closing early trades in loss/profit becase you are scared it might go south. To answer this, you have to change your mindset. Once you have done the analysis on the chart and you make that trade with the take profit and stop loss, just dont look at how much you are earning/losing. Focus on the chart and what is happeing. You didn't make the trade on numbers from your account but on candles on the chart. Make yourself think that you cant close the trade until it hits that stop loss or take profit. You WILL take loses, most day traders don't make it profitable. If you had the confidence to make that trade KEEP the confidence during your trade. If you don't belive in your own trades and that you can make it as a trader, why would anyone else? Profesional traders take loses too. No strategy works 100% of the time.
FOREXCOM:XAUUSDEducation
by fxAljtaric
Jalapablo's 10 Golden GuidelinesThese are some of the golden guidelines I live by when I swing trade. They've done me well over the years, they've kept me safe, and they've made me a ton of money. I wanted to share them, especially with new crypto traders just getting started. I had to figure all this stuff out on my own (and it cost me a lot of money). I believe every trader should come up with a set of his/her own personal rules like this and keep it in their trading journal. Wishing safe trading and prosperity to all! NOTE: I am not a financial advisor. Join me and trade my charts at your own risk. *If you have strong hands, patience, and like big wins and big money, follow me. I track all the USD & USDT-paired cryptocurrencies on Coinbase Pro, Kraken, Gemini, Binance, Kucoin, along with many other coins & tokens on various exchanges, and regularly seek out the most profitable swing trades available. All my charts are clean, straightforward, and easy to follow. My TA is based on Wyckoff phase analysis, Elliott wave count & Fibonacci extensions. If some of my sell zones seem conservative, it's only because I believe in exiting while still holding the fat money bags! The more intrepid traders can let the winners run a bit longer. Good luck and safe trading to all! **Unfortunately, I can not give custom entry and exit prices, stop-loss percentages, or offer advice on when and how to take profit other than my own entries and targets which are already on the charts. Thank you for understanding. Trade wins for March 2021 (Total Gains: 527.58%) 1. Filecoin: 31.92% in 14 days 2. Kyber Network: 12.09% in 7 days 3. Loom Network: 66% in 10 days 4. Ravencoin: 78.55% in 11 days 5. NMR: 19% in 2 days 6. Elastos: 178% in 15 days 7. Qtum: 66.84% in 24 days 8. Filecoin: 24% in 5 days 9. AION: 22.83% in 2 days 10. Flamingo: 28.35% in 1 Day Trade wins for April 2021 1. Kyber Network: 35.91% in 10 Days
COINBASE:BTCUSDEducation
by jalapablo
9
Four Stages Of A Trader (How To Make It To Stage 4)Most traders go through stages in their career not everyone is successful immediately. Stage 1: This trader loses money. Unfortunately 90% of ALL retail traders lose money and have an account life span of 3-18 months, they need to be educated by a PROFITABLE TRADER. Traders that take the time to educate themselves have the best chance of making it out of this stage. Issues are: No trading plan and no journeying. Not understanding risk management and price action on charts. Treats trading like gambling. Stage 2: Trader is losing LESS money. A trader is not making some of the rookie mistakes that a beginner trader makes and is losing LESS money because they have found education on you tube and or a coach they trust and get along with. Issue are: Still fights emotional control, half of trading is from neck up. Not focused on treating trading as a business not a hobby. Have Plan Trade Plan. Stage 3: Trader is consistently profitable. A trader is now consistently profitable, they might not be making as much as they'd like. Issue are: Patience in trading. Note: you make money waiting not trading. Four things to remember: Big wins, small wins, small loses, but never big loses. Stage 4: Trader makes money year over year. This is the ultimate goal for most traders. Its rare for someone to get to this stage. You consistently make money year over year. Only 10% of traders. Issue are: Keep on learning in trading. Have short term and long term trading goals. Slowly build up account and lot sizes- always risk management is #1. One thing to remember… This does not mean that these traders make money every day. They have a losing day, week or month, but know that in the long run we will be profitable.
Education
by Anbat
Risk Management: Entry in the impulsive phrase of price action Hello everyone: Welcome back to another video on risk management. Today I want to discuss a few possible entries that we can do in the market when we spot the next impulsive phrase of the market condition. I will break down the 3 types of entries that I always look for when I am about to execute a trade. Sometimes we will see all 3 entries present themselves, and sometimes we might only see 1 or 2. So let's dig into these entries. All entries are based on the continuation or reversal structure on the LTF mostly. So I need to see a LTF correction forming and potentially completing before setting any of these entries. In addition, they have to be aligned with the HTF overall direction and bias. Multi-time frame analysis is key. All my entries are stop entry order, meaning the market needs to hit a certain price before getting triggered. Buy Stop or Sell Stop order. You may see variations of these entries in different strategies or styles, but here are my take on them and my way of using them in my trading. Let me give a few examples of each on different markets and pairs to show the potential move and possible entry criteria. Below are same other Risk Management you should know in trading. Risk Management 101 Risk Management: How to set a Take Profit (TP) for your trades Risk Management: How to Enter and set SL and TP for an impulse move in the market Risk Management: How to scale in the impulsive phrase of the market condition? Risk Management: Combine everything you learn to prevent blowing a trading account Impulse VS Correction Continuation and Reversal Correction Multi-time frame analysis
OANDA:XAGUSDEducation
by jojofang0901
24