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How to Identify & Trade Double Tops and Double Bottoms in 2021Hello Traders, Here is some of my Favorite and Most simple Educational Chart Patterns that you should know in 2021. In this Lesson I will Show you how to Identify & Trade These Patterns! These patterns are seen daily in Stocks, Forex and different markets across the Globe. I hope you will find this information educational & informative . Your support is appreciated with a like & Comment Lets dive Right Into it!! What Is Double Top and Bottom? Double top and bottom patterns are chart patterns that occur when the underlying market moves in a similar pattern to the letter "W" (double bottom) or "M" (double top). Double top and bottom analysis is used in technical analysis to explain movements in the Market, and can be used as part of a trading strategy to exploit recurring patterns. KEY TAKEAWAYS A double top has an 'M' shape and indicates a bearish reversal in trend. A double bottom has a 'W' shape and is a signal for a bullish price movement . Understanding Double Tops and Bottoms Double top and bottom patterns typically evolve over a longer period of time, and do not always present an ideal visual of a pattern because the shifts in prices don't necessarily resemble a clear "M" or "W". When reviewing the chart pattern, it is important for traders to note that the peaks and troughs do not have to reach the same points in order for the "M" or "W" pattern to appear. Double top and bottom patterns are formed from consecutive rounding tops and bottoms. These patterns are often used in conjunction with other indicators since rounding patterns in general can easily lead to fakeouts or mistaking reversal trends. Double Top Pattern (M Formation) A double top pattern is formed from two consecutive rounding tops. Rounding tops can often be an indicator for a bearish reversal as they often occur after an extended bullish rally. Double tops will have similar inferences. If a double top occurs, the second rounded top will usually be slightly below the first rounded tops peak indicating resistance and exhaustion. Double tops can be rare occurrences with their formation often indicating that investors are seeking to obtain final profits from a bullish trend. Double tops often lead to a bearish reversal in which traders can profit from selling at the neckline (with confirmation) to form a downtrend. Double Bottom Pattern Double bottom patterns are essentially the opposite of double top patterns. Results from this pattern have the opposite inferences. A double bottom is formed following a single rounding bottom pattern which can also be the first sign of a potential reversal. Rounding bottom patterns will typically occur at the end of an extended bearish trend. The double bottom formation constructed from two consecutive rounding bottoms can also infer that traders are following the Market to capitalize on its last push lower toward a support level. A double bottom will typically indicate a bullish reversal which provides an opportunity for Traders to obtain profits from a bullish rally. After a double bottom, common trading strategies include long positions that will profit from a rising Market price. Limitations of Double Tops and Bottoms Double top and bottom formations are highly effective when identified correctly. However, they can be extremely detrimental when they are interpreted incorrectly. Therefore, one must be extremely careful and patient before jumping to conclusions. For example, there is a significant difference between a double top and one that has failed. A real double top is an extremely bearish technical pattern which can lead to an extremely sharp decline in the market. However, it is essential to be patient and identify the critical support level to confirm a double top's identity. Basing a double top solely on the formation of two consecutive peaks could lead to a false reading and cause an early exit from a position. How to Trade these Patterns Correctly using the information i have given above 1. Identify The Double Top or Double Bottom 2. Wait for the market to break the previous support or previous resistance to confirm this pattern " M or W" ( as show in my chart above) 3. Be Patient & wait for the market to come back to the "Neckline" (Previous support or Previous Resistance) (as shown in the chart above) 4. When the market will reach the "Neckline area aka support/resistance" monitor the "PRICE ACTION" (in the notes on chart) 5. Monitor the PRICE ACTION for a "Change" in the Market Environment "example" ----- (HL/HH,LH/LL). 6. It is Important to monitor the "Price Action" in the neckline area for some confirmation ( Break of structure or Candlestick confirmation) 7. Always wait for proper confirmation ( at least 2-3 different types of confirmation before Entry) 8. Always Use risk Management & Practise Safe trading. 9. Patience is always the Key to Success! 10. Enjoy The profit when you finally get to ride these Patterns :) Thanks for Reading this article, I hope that it was informative and educational As always, If you have any questions / Comment or Concern Please feel free to leave them below. Hope to see you in the next Educational Post! Global Fx Education
TVC:DXYEducation
by Global_Fx
23
How to trade successfully - Crypto1. Knowledge Is Power 2. Set Aside Funds 3. Set Aside Time, Too 4. Start Small 5. Avoid Penny Stocks 6. Time Those Trades 7. Cut Losses With Limit Orders 8. Be Realistic About Profits 9. Stay Cool 10. Stick to the Plan Successful traders have to move fast, but they don't have to think fast. Why? Because they've developed a trading strategy in advance, along with the discipline to stick to that strategy. It is important to follow your formula closely rather than try to chase profits. Don't let your emotions get the best of you and abandon your strategy. There's a mantra among day traders: "Plan your trade and trade your plan."
Education
by nevada999
Two New Tools to Improve Your ProcessProcess is important. It's how you stay disciplined. It's also how you focus on the ideas and strategies that you are best at. In this post, we'll show you two tools that may help your investing or trading process. Our New Alerts Create an alert and then sit back and wait. Get a notification delivered to your phone, email, and browser. Right-click on your chart to add an Alert or click the Alert icon ⏰ if you're on our free mobile app. Make the markets work for you by creating alerts at important price levels. Our team is excited to show you our new alert feature that supports dynamic messages. This is a game changer for those who understand Pine Script and the importance of alerts. You can now code alerts to display messages that dynamically adjust based on price action or other factors. Our new script alerts use an `alert()` function, which works in both strategies and studies. To get started with this, open the Pine Editor at the bottom of your chart while on a desktop computer. To learn more about this, read our launch blog post here. New Watchlist Features We know how important your Watchlist is. That's why we recently launched Sections and made it easy to add symbols to your list. To get started, open TradingView on your desktop computer and then right-click on your Watchlist. Then select either of these two options: Add Sections or Add Symbol. Sections will create a divider on your Watchlist with a custom name. This tool will help you better organize your Watchlist. If you click Add Symbol you will be directed to add a symbol of your choice to that exact point on your list. By the way, if you're reading this from our mobile app, you can press and hold on any symbol to remove, flag or open a chart. Pro tip: your watchlist syncs perfectly between your mobile phone and computer. Take your watchlist anywhere. We hope you enjoyed this post! If you have any questions or comments, please write them below. Our team wants to help and we listen to your feedback.
XETR:DAXEducation
by TradingView
73
Risk Management: prevent blowing a trading account Hello everyone: Today I want to go in depth into this particular topic as many beginner traders will make this similar mistake in trading sometimes in their trading journey. It's important to understand that it's all part of a learning curve you must endure when it comes to consistency in trading. I myself had done this in the beginning of my trading time, and it ultimately comes down to how you manage your emotion that is going to help you to learn from this mistake and move forward. Some may go ahead and start making the mistakes that I will mention below, and accelerate into blowing their account. Some may acknowledge what's happening, and learn from their mistakes to prevent such things from happening in the future. There are several key factors on what a trader should do and understand in order to not blow a trading account. I have made several key videos on these different topics which I will include below. I will touch on all these topics to provide a well-rounded suggestion and feedback on this matter. It's very important that you must have a good understanding of each area so it will help you to not only be consistent but to also continue to grow and compound your trading account in the future. Few key points: Trading Plan A trading plan outlines your plan, rules and management for your trades. You must have a good written plan to guide you in situations. We don't make emotional decisions that may lead to many trading errors. Focus on creating one is the start. Have a few go to setups that you always look for in the market. Identify them and screenshot them so you know to take those over and over again. Backtesting We backtest so we are familiar with price action and the market’s movement. By backtesting, we train our brain to recognize the same/similar price action that has happened in the past. This allows us to execute without fear, or fear of missing out. Backtest & Chartwork Forecasting/Scanning the market: Forecast the market is how we get a bias with the current live price action of the market. We see setups we like, and have confirmations to enter. If they don't happen or develop, no trade and move on. No need to have “ego” to prove everyone you are right. How to scan the market Risk management Stick to proper risk management. 1% or a set amount is usually the best. Having a 3:1 RR is ideal when trading so even if you are less than 50% strike rate trader, you will see at least BE or small profits. Make sure you understand the exposure you are putting yourself into. Stop Loss When it comes to calculating your entries, you must set a Stop less on every trade. Don't just remove it in hope the price will turn around. Many new traders often don't set SL or move them as price gets close. This is how you will lose more money in the long run. Trading Psychology: (FOMO) Fear of missing out and fear of losing are the biggest trading psychology trader encounter. However, if you do enough backtesting, and have a plan in place, you can potentially remove these emotions. Understand that you will never capture all the moves that happen in the market, be graceful and positive on the opportunities you get. Over Leveraged Most new traders over leveraged their account. Having a small account with huge leverage is why traders blow their account in a short time. Leverage can work for you as well as against you. You must understand properly on leverage, margin and more. This ties you with your risk management and your SL. Revenge trading When new traders start losing money, they tend to want to “revenge” their losses by entering random trades, multiple trades and more. This combining with over leverage is how a new trader can blow their account in 1 day. Journal: Last but not least, journal down every single trade that you have taken. Whether it resulted in profit or loss. This is how you can learn from your past experiences. Do not deviate from this. Most new traders feel this is unnecessary and choose not to do it. Unfortunately, if you don't do them, your trading journey will not move forward. You will still make the same mistakes over and over again. Blowing an account is something no one wants to go through, but if a trader does not acknowledge his/her mistakes, then it is very likely to happen again and again. So these are the few key areas where a trader should pay close attention to in order to not blow their trading account. The different strategies you trade aren't the issues why some blow their accounts, rather it's about their plan, management, mindset, emotion, psychology and expectations that ultimately decide the faith of the trading account. Thank you Jojo
BITSTAMP:BTCUSDEducation
by jojofang0901
33
USDCAD Backtesting & Chart Work session on Price Action AnalysisHello everyone: Welcome to a backtesting/charting session on price action analysis. Many have inquired about how to properly identify market phrases (Impulse phrase vs corrective phrase). In addition, how to use trendline properly to identify a structure/pattern as a continuation or reversal correction. This session will be the start to all these. So let's take a look into this. To start, make sure you have a new chart layout just for backtesting/charting work. his won't get overlapped on your current chart for your normal analysis. Utilizing tradingview’s feature on “replay”, this is how we can backtest and do chart work on previous price action that has already happened. As we already see the price moved in that period of time, we then look for potential buy/sell bias entries to get familiar with the move within the market. 1. Start from the Higher time frames, top down approach. Utilize multi-time frame analysis to your advantage. 2. Identify what market phrase you are in, is the current price in a HTF impulse phrase ? or in a corrective phrase. 3. Now that you have a more clear bias on the HTF, then go down to the lower time frame to confirm your bias. Do we see the same bearish/bullish price action on the LTF as well ? If so then that's a good indication that both HTF and LTF have the same buy/sell opportunity. Look for possible entries on the LTF. 4. Repeat this process with different pairs, different markets to “program” our minds into looking for the similar buy/sell setups in the current, live market. This is how we don't get FOMO, or fear of losing. If you have done enough backtesting and charting, then you simply remove the emotion out of the equation. You have seen the move play out over and over again, then it comes down to probabilities. Feel free to ask me questions, comments or feedback :) Thank you
Education
by jojofang0901
11
Three Ways To Make Better Decisions in MarketsBefore we dive in, it’s important to share a few more words about who we are. We empower traders and investors with professional-grade tools, charts, news, and global data that was once only available to select groups. Our tools are available to everyone on desktop or mobile. Our goal is to empower traders and investors to grow over the long run. 💪 The key driver behind this post is that you don’t want to rush anything before understanding what's at risk, your goals and long-term plan. We realize that in spite of our efforts and intentions, sometimes people get swayed by irresponsible posts across social media, inevitably leading to unmet expectations. We want to help people avoid this. So let's talk about three ways to make better decisions in markets. Remember, this post is strictly for education in a very fascinating time in market history! Keep reading... 👇 1) Do not blindly follow someone else’s opinion without doing your own research. Use the tools available to you to learn, study, and analyze markets. Our social network is big and growing. We encourage everyone to publish their first idea, try chats, and follow others. It's never been a better time to meet fellow traders, learn with them, and grow. But as social media converges with markets, there are several important risks to discuss. Avoid picking up bad habits, being swayed by popular opinion, and succumbing to peer pressure. Avoid doing something you have not given critical thought to, objectively analyzed or evaluated yourself. These risks can include trading before you are ready, overtrading due to the abundance of ideas, putting up bigger positions than your account can handle, and changing your mind mid-trade. Keep calm and think first. Take advantage of the tools available to you whether that's backtesting, paper trading, or looking for other opinions that challenge your thesis. 2) Do not expect easy profits just because everyone is talking about it. Instead look for peer review, meaningful connections, and ways to test your own ideas. No matter how many likes an idea receives, no matter how confident its author may appear or how many chat messages are being shared, there is no guarantee markets will play out as planned. It makes more sense to first review, study, and research an idea yourself to see if it fits your long-term plan. The bottom line is this: someone else’s view should never be relied upon as a substitute for you doing your own analysis before making actual trading decisions. Our social network is best used for peer-review, new connections, and critical feedback to help develop your strategies and understanding of markets. We have a education section dedicated to this. We also have a community of Pine Coders coding the markets. The community here is meant to help you with feedback, ideas, and new concepts. 3) Do not ask for blind real-time signals in chats or comments aiming for easy gains. Instead focus on building your long-term strategy and maintaining a realistic approach. As social media and financial markets converge, more and more people are expecting easy answers on when to buy or sell. In our public chats (you can find them on the right-hand side of the platform) we encourage people to keep this mind and dig deeper. You won’t learn anything from asking buy or sell questions. You have to study, research, and examine price action beforehand. Our social networking tools offer great opportunities to talk in real-time and exchange opinions, views, and research. Using them the right way will help you grow as a trader and learn from others over the long haul. But making hurried trading decisions based on flimsy trade calls is rarely a good idea. Just don’t do it! There’s no better way to learn than by immersing yourself in an environment that exposes you to many different ideas, conversations, and strategies. We hope that our platform boosts your knowledge of markets while allowing you to perfect your craft. Insights from others can also help you make better decisions, but only if used in a thoughtful manner that focuses on patience, process, and education. In addition, always remember that you have the tools right in front of you to perform your best research. Thank you for reading! We look forward to hearing your thoughts below. 🙏
NYSE:AMCEducation
by TradingView
81
🚨 Dangers Out There For NEW TRADERS 🚨 Risk management has to be top priority of every trader. better to know more about risk management as early as possible otherwise, After taking tons of losses trader understands importance of risk management. Next up - we have lack of a proven strategy. There are a number of decent strategies out right now, but none come close to the simplicity and effectiveness of our proven and test proprietary strategy. Following those, out next issue is brokers! Let me clarify: A certain broker WILL NOT make you a better trader than any other broker. Once you have the knowledge and skill set, you can use any broker that you like! But- Whether it be high commissions or the tools that are being offered, not all brokers are created equal!
BITSTAMP:BTCUSDEducation
by mbn_global
1
📜 Trading Rules for Beginners:Remember guys a trader doesn’t predict the future, a trader reacts to the market following a strategy. A winning strategy is to outline all the possibilities and have a plan for each of them!!! Always have a strategy and a plan before entering any position in the market! A profitable trade that doesn’t follow your plan can’t be considered a good trade, by contrast a lose trade that sticks to your plan, still a good trade! Stick to your plan and you will be a winner in the long term!!! .
BITSTAMP:BTCUSDEducation
by mbn_global
1
What Is Price Action Trading?What Is Price Action Trading? Hi Traders. In today's topic, I will be demonstrating Price Action trading through the illustration above. These are the summaries to price action trading 1. Price action traders usually have lighter focus on more distant price history, most typically focus on the recent price action (3-9 months). 2. Less emphasis on indicators. Price action traders focus more on the reasonings and human emotion underlying the charts. Do get me right, majority of successful price action traders do incorporate indicators into their trading to get that additional confluence. 3. Price action traders do not just recognize patterns, we study and understand them. 4. We do not just take support & resistance as levels, we view them as a 'memories' zone. Think about the logic behind support & resistance, they work so well because it creates a sudden shock or fear in the market as majority is paying attention to them and looking at them the same way. 5. Price action traders are constantly questioning themselves. 6. It is not easy to be a successful price action trader if you're lack of emotional control. A calm state of mind is vital. Thought process (Questions) 1. What's the current market condition? (Ranging, channeling, weak/ strong trend) 2. Should I trade? Does my strategies/ setups work well in this market condition? 3. Is it buyers OR sellers territory? Who's in control? 4. Where is the area of value and sweet spot for entries? Is there any key levels that I need to be aware of? 5. Where can I sensibly place my SL? Where's majority placing their SL? 6. What's people on the sideline thinking? 7. Where's my target? Is it realistic? 8. What if it doesn't go according to my plan? What's the alternatives? 9. Am I comfortable losing this trade? Is it worth the risk? Personally, as a price action trader, being patient is essential. Lack of patience would lead to some self-sabotaging snowball effect, waken up those negative trading habits (FOMO, over trading, revenge trading). Understand that as price action traders we're trading what we see, not what we think, never impose your personal will and expectations into the market, it is not your ATM. Sometimes the best trade is not having a trade, knowing when to not trade is as equally important to knowing when to trade. Put in the effort, practice more, and learn from mistakes. Always be a student, stay humble! "Trading is a ruthless business that does not take any hostages, so you better come prepared." - Nico Muselle Trade safe. Do follow my profile for daily fx forecast & educational content.
KRAKEN:BTCUSDEducation
by TraderNeoh
16
How To Follow Earnings and News From Your ChartIn this video we show you the basics of following earnings and news from your chart. This is especially helpful for equity investors and traders, but it also applies to those interested in crypto, forex, and futures because you will learn how to follow breaking news directly from your chart. All TradingView members have access to high quality news by clicking the News icon 📰 on the right-side toolbar. Here are the three key features we cover in this video: 1. Read breaking news about any ticker symbol by clicking the News icon 📰 on the right-side toolbar. This news is real-time and will update instantly when big events happen. Additionally, the news will automatically update and reflect the ticker on your chart. When big price movements happen, open your newsfeed to see what's happening. 2. You can chose to show the Earnings icon on your chart. This Earnings icon will reveal when a company reports earnings and some basic facts about that earnings report including date and EPS estimates. To show or hide your Earnings icon right-click on the chart, click Events, and then select "Show Earnings on Chart." 3. The Earnings Calendar 📆 is a way for you to see who is report earnings, when, and what their EPS Estimates are. Never miss another earnings report. Open your Earnings Calendar daily and quickly scan for upcoming reports so you don't get caught off guard. In the Calendar you can also see upcoming Economic Events. Pro tip: we also have a dedicated Earnings Page that gives you even more details into upcoming earnings. We hope this video helps you get started with earnings, news, and other events! Please leave any questions or comments below. Our team appreciates your feedback, support, and questions.
NASDAQ:AAPLEducation
by TradingView
55
Weekly Trading Recaps: AUDJPY, XLMUSD, SUGAR, BTCUSD Jan 24 2021Hello everyone Welcome back to another quick weekly trade recap video on the positions. I am currently in the mountains (lol) so may not get to my usual weekly outlook stream due to internet. But hopefully still update analysis :) AUDJPY - Second position got out for BE. Currently in the third position in. XLMUSD - Took out for a 1% loss. BTCUSD - Still Holding, currently @ 3% profit. SUGAR - Still holding, currently @ 2.5% profit. Any questions, comments, or feedback welcome to let me know below. Thank you
BITSTAMP:BTCUSDEducation
by jojofang0901
18
[Risk Management trick] Tilting the "Math" in your favor!We all try to find the strategies which offer best possible win probabilities. Yet, we often overlook another crucial component of increasing your odds of winning => risk management. Today, I am going to show you how you can use a simple risk management trick to tilt the "Math" in your favor. Would you like to increase the output of your strategy by 25% without doing anything extra? Imagine a 3R win suddenly increasing to 3.75R with no change in the strategy at all. Consider this trade... We are trying to setup a sell trade with a very defined -1R risk and +3R profit. If we were to loose this trade, we will loose 1% of our capital - and if we win, we will make 3% in return (3RR). Here, we assumed that we'll exit the trade when price moves -1R completely against us. What if, we pivot our thinking and assume the trade is lost when price has moved -0.8R : because if the trade goes that much against you, there's a very high probability that it'll hit your stop loss too. There is no reason to pretend that it can still turn around at the last moment. Murphy's law truly applies here - "Anything that can go wrong will go wrong". If we do really pivot our thinking, lets see how it works in our favor! The Stop loss is now updated and set at -0.8R So a win will still give us the same 3%, but the loss will only wipe out -0.8% from our account. Now because our profit targets are still setup as per the original 1% trade, you can now see that we now get this extra reward if our trade hits its original 3R target The moment we draw 3R as per our new -0.8R stop loss, we get this - You can see how the 3R with -0.8R stop loss is achieved much before than the 3R with -1R stop loss (obviously)! That means, the extra reward you got when the trade reached your original 3R - is additional profit which you now have - without ever changing your trading strategy! 3/0.8 = 0.75 (which is 25% of your original 3R target) 0.75/3 = 25% You now have extra an 25% reward for free! New RR = 3.75 This is a very beautiful math equation for yet another reason! Imagine you lost your trade with a -0.8R => the additional 0.75R you will achieve (for free) from another trade will extremely quickly cover up anything you lost. As you can see, we can really use sound risk management techniques & Math to our benefit. This is called : Tilting the "Math" in your favor!
Education
by makuchaku
155
The Broker Awards - Bringing More Transparency to MarketsOur first-ever Broker Awards are here. Together, we can bring more transparency to financial markets. Connect a broker of your choice to your TradingView account, research markets, and manage orders seamlessly based on your research. Then rate, review, and follow your favorite broker. Your reviews will help others find a perfect broker for their needs whether it's equities, forex, futures or crypto. Visit our Top Brokers page to see all of the brokers available. We launched our Broker Awards to congratulate the best brokers based on your reviews. Real traders who write and rate brokers with verified reviews. We're creating a marketplace that brings more transparency to financial markets. By building this marketplace we can reduce bad experiences, give people a chance to share their opinions, and connect customers with the perfect broker for them. Remember - these awards are based on a combination of your reviews, ratings, comments, and overall usage. Now let's get to the awards! 🎉 Drum roll please... 🥁🥁🥁🥁 Broker of the Year : TradeStation Connect your TradingView account to TradeStation and access their ultimate trading services across equities, equity/index options, futures, and cryptocurrencies markets. Follow them here. Most Popular Broker : OANDA Founded in 1996, OANDA is a leading online trading broker, regulated in all key global markets. Specializing in Forex and CFD trading, OANDA offers tight pricing on a full portfolio of products. Follow them here. Social Champion : FXCM FXCM's purpose remains unchanged over its 20-year history. FXCM is a leading provider of online foreign exchange trading. Follow their social posts here. Most Innovative Tech : TradeStation For those who connect their TradingView account to TradeStation, you've noticed the upgrades and made that clear in your reviews. Best Multi-Asset Broker : TradeStation Crypto, equities, options, and futures are all available to you with a single connected account. Best Futures Broker : Tradovate Tradovate is a modern, cloud-based futures broker offering unlimited, commission-free trading for a flat price. No per-trade commissions, platform licensing fees or order routing fees. Follow them here. Best Forex Broker : OANDA With nearly 6,000 verified reviews, your votes made it clear about who you wanted to nominate as the best forex broker. Read every review here. Best Crypto Broker : Gemini Gemini offers an industry-leading suite of crypto-native products and advanced tools for individuals and institutions. Buy, sell, and store cryptocurrency with world-class security. Follow them here. Congratulations to the winners! Special thank you to all of the brokers who work with us and the community of traders who rate and review their broker. We believe this level of transparency will help more people find the perfect broker for their needs. Let's keep it going and please remember to rate and review your broker. Your reviews make a difference. ⭐️⭐️⭐️⭐️⭐️ If you would like to request a broker to add to TradingView, please write the name in the comments below and also send them a message. Your support will help us get in contact with them and let them know this is an important connection. Once again, thank you to our broker partners and the community for writing their reviews.
Education
by TradingView
51
WHY TRADERS LOSE THEIR MONEY?Hi every one this article is about why people lose money on trading platforms such as forex and crypto and stock markets: 1- Not having clear strategy: +{You need to have one or more specific strategies and act on them! You should prepare a checklist for each strategy, and this checklist should include tools specific to that strategy And when trading, follow your strategy and the tools in your strategy} 2- Not taking lessons from their mistakes: +{If you lose in a deal, see what you did wrong and investigate and learn from it so it doesn't happen again} 3- Not sticking to risk management rule: +click it A simple explanation of money management! 4- Don t cut your profit: +{Limit your losses and let your profits run} 5- Don t over trade: +Excessive trading has two important problems: A-{causes a lot of stress and excitement} B-{You have to pay more commission} 6- Don t force yourself to make money 7- change your mindset from gambling and making a million over a night +{Forget the mentality of getting rich overnight ,Those who are patient win and those who are not patient lose} 8- make a responsible mindset and report to someone. 9- Don t trade when you are emotional. 10- Don t try to beat the market just follow the market +{We should not move ahead of the market, we should follow the market trends, whether ascending or descending} 11- this is a serious business don't play with your money for excitement. please take note of this article so that you would be successful in your trading life.
COINBASE:BTCUSDEducation
by CobraVanguard
36
Who wants to trade like this now markets are back open ❓💲Hello fellow traders Quick idea as the markets open up for the week I just wanted to show you all how I traded GBPUSD last week. I am working the 30M time frame here using our 'EDGE' strategy. As you will see from the chart there was four trades last week on this time frame and three were winners! 138 pips banked. Our strategy is a follow trend strategy and can be used on any time frame but also with any instrument. The strategy sits in your tradingview and when all confluences are met a simple alert appears on the chart. At this point we enter the trade. When an alert presents all the trade information is presented too, take profit target, stop loss, entry points etc. The confidence in the way we trade comes from the built in strategy tester. This enables us too back test the way we intend to trade. No one can predict the future but this is a great marker on how trading a pair could perform going forward. The strategy tester data for this pair can be found at the foot of this idea. The data is based on £5000 starting capital and risking 2% a trade. Data shown is tested from Jan 2020 to present time. The strategy tester shows gains from trading this way along with, win rate, number of trades and draw down. Feel free to press the sub menus and in doing so you will see a performance overview and all 409 trades individually logged. All of the above allows our traders to trade with confidence and emotions firmly in check. For any more information on the strategy shown please feel free to drop me a message.
Education
by RichScott