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Targets

The Power of Standard Deviation (STDEV)Hello everyone, This morning was a great chance to show the power of using Standard Deviation (STDEV) for targets. I usually put it on the London session. That's what I've done here. As you can see, the levels are almost identical to the ones marked using market structure. This is another useful advanced tool that can add to your arsenal to help bring your trading to the next level. This is very easy to use, and you can use the FIB tool with these levels to make your own STDEV tool. I hope you found this insightful and useful. Happy Holidays!
CME_MINI:NQ1!Education
by The_Lioness
Developing a Trading Plan: 7 Key Aspects to Consider Becoming a successful trader requires more than just simply buying and selling assets. To be consistently profitable, traders must create and stick to a well-designed trading plan. A trading plan is a detailed document that outlines a trader's approach to the market and establishes rules for each step of the trading process. The following are seven key aspects that a trading plan should include. ✅Timeframe The timeframe determines the length of time each position will be held open. Traders can choose a long-term, medium-term, or short-term trading strategy. Long-term strategies may require holding a position for several months, while short-term strategies require closing a trade within a day, or even just a few minutes. ✅Risk Management Risk management is the process of identifying, assessing, and prioritizing risks or uncertainties that may affect trading outcomes. A trader's risk management strategy may involve using a fixed lot size or a percentage of the account for each trade. With proper risk management, traders can reduce their losses and maximize their profits. ✅Market Conditions Market conditions refer to whether the market is trending or ranging. A trending market is one in which prices move persistently in one direction, while a ranging market is one in which prices move sideways between a range of support and resistance levels. A trader should have different strategies for each type of market condition. ✅Choosing the Market to Trade Traders must choose which market they want to trade, based on their trading plan, resources, and experience. Forex, stocks, commodities, and cryptocurrencies are some of the markets that traders can choose from. It is advisable to trade in markets that a trader understands and has experience in. ✅Where to Enter Traders can use different methods to enter a trade, such as pullbacks, breakouts, or crossovers. A pullback is a temporary reversal in the direction of an asset's price movement. A breakout occurs when an asset's price moves through a support or resistance level, and a crossover is when two moving averages cross over each other. ✅Stop Loss A stop loss is an order placed with a broker to buy or sell a security when it reaches a certain price. Traders can use percentage-based or market structure stop-losses. A market structure stop-loss is set at a support or resistance level and is based on the analysis of market structure. ✅Targets Traders can have fixed or trailing targets. Fixed targets are predetermined profit objectives that are fixed in advance. Trailing targets are profit targets that move along with the price of the trade as it goes in the trader's favor. In conclusion, developing a trading plan is an essential step for every trader. It allows traders to make informed decisions based on their analysis, experience, and personal risk tolerance. It's important to review and adjust the plan regularly based on market conditions and changes in personal goals and financial conditions. By adhering to a trading plan, traders can improve their chances of success in the market. I hope this post was helpful to some of our beginner traders😊 Dear followers, let me know, what topic interests you for new educational posts?
BITSTAMP:BTCUSDEducation
by SignalProvider
10
The how to on making Goals / Targetswhat's up everyone we are speaking on how to figure out your goals and how to really get to the core of them. To find out what your heart really wants and then how to use your targets to achieve your GOALS. 30 Day Challenge: - Write goals 2X a day Rising/ Night - if you feel angry or upset write goals again - write you goals the first time and 10X it (must excite you and make you feel uncomfortable) - Write Targets Daily must have - - personal development - health & fitness - spiritual - 1 hr of learning your skill/ craft to better you skills - what ever will move the needle in your business or trading
OANDA:XAUUSDEducation
by NickyLimitless
HOW TO DETECT TARGET ZONES?EURUSD (Forex): In the chart you can see my trading setup. The middle dotted trend line and the red zone act as resistance. Currently the price is rejected. First of all, this offers us a short opportunity. How can you find target zones? ❗️ To find target zones, I usually use distinctive highs and lows. In this case the green support zone. The first profits should then be realized in this zone. I also use the fibonacci tool to display possible zones in which I can sell. In particular, I pay attention to the 0.5 retracement in combination with the 0.618 retracement. In the chart you can clearly see that these zones roughly correspond to my own drawn zones.
Education
by TizTrader
Why having 2 TP targets is good Hello, in this educational post I will be talking about why having 2 or 3 TP targets is good. As an example, I will be using one of the trades I have running currently on EURUSD. My initial target for this short position is to hit the lowest point of yesterday and it was going well until a pullback happened which is currently happening right now and probably reaching my entry point. If I didn't have more than 1 TP target, this trade could potentially be a loss or a breakeven but since I had another target that is closer to my entry point, I could close half of my position, move my SL to breakeven, and secure some profit. On the graph, you can see that I secured 33.5 pips of profit by closing half of my position so that if the price reverses, I would still gain some profit off of this trade and it did eventually reversed. A rule of thumb I normally use for my first TP is half of my final target or a closer/weaker support/resistance level. I do not recommend having more than 2 or 3 targets if you are relatively new to trading. *This only applies to Intraday Trading, Scalp, and Short Swing Trades.* To conclude all my points: 1. Having another TP before your final target is good to secure profits in cases it reverses. 2. Move to SL to breakeven once your first target is reached so if it reverses, you are guaranteed profit. 3. A rule of thumb I normally use for my first TP is half of my final target or a closer/weaker support/resistance level. Please give a thumbs up if you agree with the educational post and if there are any questions, feel free to comment down below.
Education
by AresFx
BTCUSD Setting of targets. You took a short position when you break through a symmetrical triangle in a downtrend. Then the position began its realization, becoming a profit deal, and the price was consolidated in the trade corridor, the continuation pattern - a rectangle. Then the price as expected continued its downward direction having broken the borders of the rrectangle. Now you can transfer the protective stop to a new, technically sound level - above the rectangle's trade corridor. Then the price reached the price level determined by the measured move and consolidated into a small symmetrical triangle. This is why there is no sense to close the position right now as the trend tends to go on. You should better try to keep a profit position as long as possible especially when there is a new technically supported level in our case – above the borders of the small symmetrical triangle. Information is the most valuable of well-known goods. I share all of this information with my Family members for free so don't forget to like and subscribe.
BITFINEX:BTCUSDEducation
by EXCAVO
13
How to detemine Targets for Pennant BreakoutsThe target for a pennant breakout should be determined by the height of the pennant In this example the height was 165 pips. The price reached broke out and reached 161 pips. Of course, it's not always perfect but it's close enough. A similar example can be seen in last weeks pennant break out on EURUSD. However, on the EURUSD example, when price broke out it did a retest and then continued to the target. Retest do occur, so be weary of moving your stop too early and then missing the main move Thanks for reading.
Education
by jannatul96
Case Study for Mismanaging a Disciplined Trade StrategyIn the most recent BTCUSD dip I made a series of mistakes that put me in a slightly nervous position overall, but still generally favorable. Over a series of trades I managed to find myself in a position with an average buy price of $7486.13. Trading profitably on the dips I reduced this average buy price to $7348.21. Throughout this series of trades I had multiple opportunities to take profit and this discussion will focus on trading psychology and process failure. Early in my trading session I had managed to identify successfully entry levels that were reasonably close to where I could make a "dip" profit. Generally my target is around 2%. Given the big dip from $9.2k to below $8k and given the duration and recovery of that dip from $10k I felt confident that the market was oversold and all of the order book charts indicated an overall strong buying to selling ratio. My price target was just below $8.5k and on the first move up it hit $8.4k and I felt like there would be an orderly move over time. What I learned with this recent price action was that trading bots and whales/funds that control them have disproportionate leverage over price action. Not being fully aware of their techniques, I decided against adjusting my price target and I was "too greedy" and completely missed my profit opportunity after being presented double my normal target over two periods. Now having missed that opportunity I was forced to double down knowing that the next price move would likely be much bigger and deeper. Trading for profit on the way down I was able to recoup some of poor positioning but again, I did not quite understand the techniques of these algo bots until near the end when I was able to make an adjustment to how I choose price targets to better compensate for whale/shark algo bots. Setting price targets for exiting my position and reducing my risk came down to three possible outcomes: 1) Sell ALL at a higher price that would make profit but also leave me no room for error if I missed at $7800. This price level would have still been poor risk/reward overall so this exit strategy seemed like a mistake. 2) Sell ~half (47%) of my position at a profit at $7400 and then sell the other half at $8000 for "break even" on that part of the trade. This seemed like a prudent risk management strategy as I would have funds to take additional profit if the market moved back down while leaving in place a position that could become profitable over a longer duration. 3) Sell ALL at the higher price target that would give me a much bigger target but leave me open to poor risk management again. This was definitely the worst option. So I chose 2) which worked ok in that the first trade target was hit as expected. Then, while watching the order book I started to worry because there were big sell walls below $7500. I thought about how stressful it would be to ride that position back through another big dip and because of fatigue also overly focused on this possibility rather than going back to my pre-defined strategy of hodling for $8k on half and trading with the other half. Clearly, stress causes one to adopt a risk averse mental state. And this kind of risk aversion usually leads to the panic selling and "weak hands" phenomenon of selling at exactly the WRONG time, i.e. when you should be thinking about buying. So when I saw the price being challenged at $7k to $7.1k with very clear algo bot action pushing the price in both directions with very light buy order positioning I became a pawn in this algo bot action and decided to exit early and go take a nap rather than have to sit through another big dip with half of my fund at risk. Rather than see any huge sell wall the sell-side volume relented and the price nearly hit my price target of $7.9k. If I had been more disciplined I could have set a contingency (less greedy) target below $8k but I changed my plan using no particular reasoning whatsoever other than fear of these algo bots.
COINBASE:BTCUSDEducation
by powderpc