Top down analysis form weekly to 30min chart.
Key levels marked out to help identify potential opportunities.
Recommend newer traders mark the higher lows and higher highs and lower lows and lower highs (this will help identify key levels as well)
Levels are you decision points like entering a trade because you set alerts and planned to enter if key level is broken.
Limit fakeouts by waiting for market to pullback and enter on continuation. this also helps mitigate risk with defined stop level within timeframe.
Catch the market reversal. Do not try to catch the bottom of market reversals. You can catch the true reversal on the confirmation key level break through.
This works both ways short and long.
Always mitigate risk. 4 3 2 1 Risk reward 1 2 3 4, you should avoid the 3 and 4 on the loss side and accept the 3 and 4 on the win side. I like 3:1 and I like to keep losses small as possible. Make $300 and lose $100 at 50% of the time is a business model. you earn $200 per trade on average. To improve my bottom line You would focus on mitigating losses even further. That will take you reviewing you own data ( trade history ) and see the outliers. This will tell you what to adjust. For me I am to stay away from trading earnings and do not trade against the prevailing trend.
Hope this helps
Key levels marked out to help identify potential opportunities.
Recommend newer traders mark the higher lows and higher highs and lower lows and lower highs (this will help identify key levels as well)
Levels are you decision points like entering a trade because you set alerts and planned to enter if key level is broken.
Limit fakeouts by waiting for market to pullback and enter on continuation. this also helps mitigate risk with defined stop level within timeframe.
Catch the market reversal. Do not try to catch the bottom of market reversals. You can catch the true reversal on the confirmation key level break through.
This works both ways short and long.
Always mitigate risk. 4 3 2 1 Risk reward 1 2 3 4, you should avoid the 3 and 4 on the loss side and accept the 3 and 4 on the win side. I like 3:1 and I like to keep losses small as possible. Make $300 and lose $100 at 50% of the time is a business model. you earn $200 per trade on average. To improve my bottom line You would focus on mitigating losses even further. That will take you reviewing you own data ( trade history ) and see the outliers. This will tell you what to adjust. For me I am to stay away from trading earnings and do not trade against the prevailing trend.
Hope this helps
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.
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.