Mastering the Mindset: A Comprehensive Guide to Trading Psychology Trading in the financial markets is not just about analyses and strategies; it’s equally about mastering one’s mind. The importance of trading psychology is often underestimated, yet it plays a pivotal role in shaping trading decisions and outcomes. This comprehensive guide delves into how to...
I am just going to put it out there, as you know I have said time and time again in my streams. Personally, the whole automated trading concept is not for me. However, that’s not to say there are not some good strategies, tools and instruments that could work for some people. Risk tolerance, time frames, bull vs bear markets all play a role in trading. This is...
Trend Master usage. 0. Change to Heiken Ashi 1. Look for SAR buy/sell signal from Indicator 2. Identify trend price above 200MA or below MA200 3. Confirm with MA cloud 4. look for color of SR line it must be Blue for buy / Red for sell 5. Price (open) must be above SR line for buy / below SR line for sell
🔸The concept of the Master Candle is well known in trading. There are different ways of looking at this trading strategy, but in its simplest form, a Master Candle is a candle which contains the highs and lows of at least the next four candles after it. 🔸Can be applied to forex, gold , oil , crypto, stocks and indices. 🔸simple rules to enter the trade based on...
The default parameters in Master/Last Candle (MLC) indicator are used for the standard timeframe 1D. Due to the difference in nature between bars of intraday timeframes and bars of day-and-above timeframes, some settings could be changed as below to make the indicator tailored to your case. • Increase default Max Volume Drop % from 25 to 30. We have seen a case...
A,B,C,D,E - Classic funneling out master pattern price action, getting wider at each swing - grabbing buy/sell side liquidity and reversing onto the next liquidity spot. This is a textbook example of a multi-leg expansion. Refer to the linked idea "How Time Affects The Master Pattern"
Today was a day full of high impact news releases so it would have been wise taking a day off of trading. The reason I am posting this is to show how price still develops this pattern of behavior even when we get high volatility with the economic calendar news releases. Look how this framework still allows us to make sense of the market even in a day of supposed...
In a nutshell, this is the basic strategy. First you get the directional bias from your HTF and check which cycle of the master pattern it currently is, this will enhance the success probabilities. In this example, the HTF was trending down. When the HTF got below value, then we would have checked our LTF looking for an entry opportunity when it got above...
As time flows away from the contraction point, the market becomes more and more volatile.
Here we see why the Forex Master Pattern is a reliable concept that gives us solid trading insights.
A more in depth explanation of the contraction phase.
Here you can see on a real chart how to draw the lines objectively and mechanically the correct way. I developed an indicator for metatrader which does all that for me automatically, but you don´ t need the indicator if you are trading above 5min timeframe (more free time to draw lines). This example here is a nice one as you can see that when price went above...
To draw the lines is very simple. For the LTF you use a zigzag configured with: Depth:3 Backstep:1 Deviation:1 For the HTF: Depth:2 Backstep:1 Deviation:1 You use the zigzag swings to determine highs and lows. The trigger for the line is a simultaneous higher low and lower high, then you start drawing a line from the center of this range. Initially it is...
In the next tutorial I will teach you how to draw the lines in the correct manner. It is very objective and mechanical to do so, no subjectivity here.