I thought I'd share my experience with other New Traders (I'm still 'new', 2yrs in). I made all the classic mistakes and plenty more, my learning is only just beginning. Hopefully this educational post helps others new to trading. Use a Stop Loss So many times I didn't use a Stop Loss. One of the main reasons was I kept getting Stopped Out and then the price...
I reverse engineered the Renko Boxes and found a relative range. Using the Highs, the lagging stop is 2.2%, and same with the Lows. I separated the two, and it seems like a winning strategy: modern too. Also, my undeviated macd, and both derivatives.
The issue with breakeven trading is that when enough people are joining the market at the same place, be it a demand area or an order block. Many traders like to secure their positions immediately. This, however, creates liquidity. Whenever a large group of people move stop losses to the same area, expect that area to be a target for the banks. In this...
Sometimes we can get so caught up in the fear of missing out on the breakout that we forget it could be a trap. It is always crucial to listen to your intuition when you see these easy setups because more often than not they are more complex than they seem. In this example, a breakout occurred and buyers put stops below the last structure, a few days later this...
In this post we can see how the stops were taken out beyond. the 26600 price level. For any setup that a noobie trader may place, the SL would be taken out at this level; However using the ATR indicator we can avoid getting stopped out and keep our trade. I recommend you watch some videos on this indicator to get a better understanding but the main jist of it is...
A walk in the park observing the fractal pattern of trees might yield some inspiration for your trading.
Experience is a major part of becoming a consistently profitable trader. Now experience isn't just gained by the amount of time that you spend in the markets, it has to be earned by doing the little things such as reviewing your trades on a daily basis & asking yourself what did I do good, what did I do bad & what could I have done better? Something that I began...
Quick thoughts on recent price action. Shows possible thought process of whales / market makers. So for my Stop Loss settings, I ask myself: -Where are everybody else's stops? (too much of a target) -If I put my stop above/below, what happens to my Risk v Reward formula? -If I can not my stop above/below, am I just asking to LOSE that stop?