This video was created to help you better understand why it is important to WAIT for the SPY Cycle Patterns to setup efficiently.
It is critically important that all of you learn the three basic rules of trading.
1. Never try to force a position/trade. If your research tells you some type of price event/trend is likely - don't jump into the trade too early. Wait for confirmation and wait for price to confirm your analysis is correct.
2. Start with a small position. Never GO BIG on your initial trade. If you are wrong, you can manage the trade with a small win/loss. If price moves in the direction you expect, you can add more once you get confirmation the trend will continue (potentially).
3. BOOK PROFITS early and keep BOOKING PROFITS as the trend continues higher. You can always get back into the trade with CALL/PUT options - but if you don't learn to BOOK PROFITS EARLY (20-30% profits in the trade), then you'll very likely FAIL to build your account efficiently.
(Trust me, #3 is VERY IMPORTANT)
Beyond these three simple concepts, one of the most important aspects of trading with my SPY cycle patterns is to learn to WAIT for the pattern to setup efficiently.
Today is a great example.
The BOTTOM/Rally Start pattern was in Counter-trend mode. Thus, I expected it to be INVERTED - turning it into a TOP/Selloff Start pattern.
In order for that pattern to play out, we needed to see the markets open higher (and potential trend higher for a bit of time), then roll over into a top pattern. After that tops pattern setup, the markets should continue to move into a moderate selloff trend (downward).
Think about it. Were you smart trying to SELL INTO the rally this morning or were you smart to wait for the ROLLOVER and sell into the breakdown trend?
IMO, smart traders waited for the top to setup/confirm and started selling as we got into the breakdown trend phase.
Again, I'm trying to help you learn to become a better trader.
I hope this video helps.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
It is critically important that all of you learn the three basic rules of trading.
1. Never try to force a position/trade. If your research tells you some type of price event/trend is likely - don't jump into the trade too early. Wait for confirmation and wait for price to confirm your analysis is correct.
2. Start with a small position. Never GO BIG on your initial trade. If you are wrong, you can manage the trade with a small win/loss. If price moves in the direction you expect, you can add more once you get confirmation the trend will continue (potentially).
3. BOOK PROFITS early and keep BOOKING PROFITS as the trend continues higher. You can always get back into the trade with CALL/PUT options - but if you don't learn to BOOK PROFITS EARLY (20-30% profits in the trade), then you'll very likely FAIL to build your account efficiently.
(Trust me, #3 is VERY IMPORTANT)
Beyond these three simple concepts, one of the most important aspects of trading with my SPY cycle patterns is to learn to WAIT for the pattern to setup efficiently.
Today is a great example.
The BOTTOM/Rally Start pattern was in Counter-trend mode. Thus, I expected it to be INVERTED - turning it into a TOP/Selloff Start pattern.
In order for that pattern to play out, we needed to see the markets open higher (and potential trend higher for a bit of time), then roll over into a top pattern. After that tops pattern setup, the markets should continue to move into a moderate selloff trend (downward).
Think about it. Were you smart trying to SELL INTO the rally this morning or were you smart to wait for the ROLLOVER and sell into the breakdown trend?
IMO, smart traders waited for the top to setup/confirm and started selling as we got into the breakdown trend phase.
Again, I'm trying to help you learn to become a better trader.
I hope this video helps.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
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-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..
Join Ment.com Expert Growth Today
Get Some.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.