Many of you follow my morning Plan Your Trade videos - and I thank you for your loyalty and dedication.
The Plan Your Trade videos are specifically deigned to highlight my SPY/GOLD Cycle Patterns and, over the course of the past 9+ months, I've started trying to teach all of you Fibonacci Price Theory and the concept of the Excess Phase Peak pattern (and Cradle Pattern).
My goal is to teach you to learn to understand price structures, setups, and actions as a way to try to advance your technical analysis/trading skills.
There are so many others out there trying to teach you to use indicators and other types of analysis to try to identify trading opportunities/setups. Some work, some don't.
Technical analysis using Indicators, Elliot Wave, or other forms of predictive analysis/AI are only about 50-75% accurate at best (IMO). Nothing is 100% perfect.
After 35+ years of trying to unlock the secrets of price action to devise a 100% accurate trading system, the closest I have come is a system that generates about 65-75% accuracy - but still manages to take some losses.
I do believe I can find that 100% accurate system (hopefully before I die). But the reality is it is almost impossible to accurately predict price movement 10-20+ days in advance with any degree of accuracy.
Over the past few weeks/months, we've seen the SPY/QQQ move through various stages/phases.
Over the past 4+ weeks I've been warning of the broad-consolidation phase that is currently setup on the SPY/QQQ. I believe this huge consolidation range is very dangerous for traders and that extreme volatility will create lots of risk/opportunities for those capable of trading within this range.
But, at the same time, failing to take advantage of tools to help traders hedge, daytrade, or otherwise balance allocation/risk levels is something I really don't talk about much.
I like to say "I do the research - you make all the trading decisions".
This video highlights some of my advanced algos and how I use them, in conjunction with the EPP and other patterns, to try to gauge market opportunities vs. risks.
Trust me. I've learned not to GO BIG on trades over the past 20+ years because I've blown up a few accounts trying to get greedy.
Right now, I focus on trying to be on the right side of trends (if possible) and to balance my portfolio in 10-20% increments.
For example, if I believe GOLD is going to move higher, I may start out with a 5-10% allocation into GLD or UGL (start small). If that trade works and Gold starts to make a move higher, I may try to add a bit more to that initial trade. If it doesn't work out, I may try to add a little bit more at a better entry price level - but I focus on not letting that trade occupy more than 15-20% of my total portfolio.
That way, if I take a loss on the trade, it is a small loss compared to the overall account capital.
If I take a 50% loss on a 20% allocation - that is only a 10% loss on the TOTAL ACCOUNT SIZE.
Get it?
So, the reason for this video is to show you how you can still use technical strategies/indicators to try to confirm you intraday trading and swing trading opportunities. I like to use the SuperTrend strategy on charts to identify general trending.
I'm urging you to consider my Plan Your Trade videos as "one component" of your skillset. You need to use your own skills/techniques/analysis to try to manage risks vs. opportunities as you continue to trade.
I highlight some of my algos because they become another "component" of my analysis when I'm trading. If I don't see broad market capitulation related to Daily trending - then I try to stay VERY CAUTIOUS. If I do see some capitulation within my algos suggesting the markets are starting to trend upward or downward, then I may try to take advantage of that opportunity.
Ideally, the process of trading is to use everything you like and can rely on to help confirm you decision-making. Then, fall back to a efficient trade allocation process that attempts to limit your risk level.
The biggest mistake I see people make is to go ALL IN or TOO HEAVY into a trade thinking they can't lose. Yes, you can lose. So can I.
That's why it is important to contain risks and protect capital at all times.
I'll try to create another video showing you how I use the SuperTrend indicator to help confirm some of my intraday analysis for trades.
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
The Plan Your Trade videos are specifically deigned to highlight my SPY/GOLD Cycle Patterns and, over the course of the past 9+ months, I've started trying to teach all of you Fibonacci Price Theory and the concept of the Excess Phase Peak pattern (and Cradle Pattern).
My goal is to teach you to learn to understand price structures, setups, and actions as a way to try to advance your technical analysis/trading skills.
There are so many others out there trying to teach you to use indicators and other types of analysis to try to identify trading opportunities/setups. Some work, some don't.
Technical analysis using Indicators, Elliot Wave, or other forms of predictive analysis/AI are only about 50-75% accurate at best (IMO). Nothing is 100% perfect.
After 35+ years of trying to unlock the secrets of price action to devise a 100% accurate trading system, the closest I have come is a system that generates about 65-75% accuracy - but still manages to take some losses.
I do believe I can find that 100% accurate system (hopefully before I die). But the reality is it is almost impossible to accurately predict price movement 10-20+ days in advance with any degree of accuracy.
Over the past few weeks/months, we've seen the SPY/QQQ move through various stages/phases.
Over the past 4+ weeks I've been warning of the broad-consolidation phase that is currently setup on the SPY/QQQ. I believe this huge consolidation range is very dangerous for traders and that extreme volatility will create lots of risk/opportunities for those capable of trading within this range.
But, at the same time, failing to take advantage of tools to help traders hedge, daytrade, or otherwise balance allocation/risk levels is something I really don't talk about much.
I like to say "I do the research - you make all the trading decisions".
This video highlights some of my advanced algos and how I use them, in conjunction with the EPP and other patterns, to try to gauge market opportunities vs. risks.
Trust me. I've learned not to GO BIG on trades over the past 20+ years because I've blown up a few accounts trying to get greedy.
Right now, I focus on trying to be on the right side of trends (if possible) and to balance my portfolio in 10-20% increments.
For example, if I believe GOLD is going to move higher, I may start out with a 5-10% allocation into GLD or UGL (start small). If that trade works and Gold starts to make a move higher, I may try to add a bit more to that initial trade. If it doesn't work out, I may try to add a little bit more at a better entry price level - but I focus on not letting that trade occupy more than 15-20% of my total portfolio.
That way, if I take a loss on the trade, it is a small loss compared to the overall account capital.
If I take a 50% loss on a 20% allocation - that is only a 10% loss on the TOTAL ACCOUNT SIZE.
Get it?
So, the reason for this video is to show you how you can still use technical strategies/indicators to try to confirm you intraday trading and swing trading opportunities. I like to use the SuperTrend strategy on charts to identify general trending.
I'm urging you to consider my Plan Your Trade videos as "one component" of your skillset. You need to use your own skills/techniques/analysis to try to manage risks vs. opportunities as you continue to trade.
I highlight some of my algos because they become another "component" of my analysis when I'm trading. If I don't see broad market capitulation related to Daily trending - then I try to stay VERY CAUTIOUS. If I do see some capitulation within my algos suggesting the markets are starting to trend upward or downward, then I may try to take advantage of that opportunity.
Ideally, the process of trading is to use everything you like and can rely on to help confirm you decision-making. Then, fall back to a efficient trade allocation process that attempts to limit your risk level.
The biggest mistake I see people make is to go ALL IN or TOO HEAVY into a trade thinking they can't lose. Yes, you can lose. So can I.
That's why it is important to contain risks and protect capital at all times.
I'll try to create another video showing you how I use the SuperTrend indicator to help confirm some of my intraday analysis for trades.
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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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.
Love My Videos/Research - GET MORE..
-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..
Join Ment.com Expert Growth Today
Get Some.
-- 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.