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Terra FalloutArguably the number one saying to always avoid uttering in investing is “This time is different”. Usually, it is related to overly optimistic bullish expectations of future market highs due to global adoption finally taking place. Ironically, as this cycle continues it is proving to be different… In all prior market cycles, bitcoin never rested or went below the previous all-time high during following bear markets. Last weekend, however, we saw bitcoin cascade through the previous all-time high via a savage 6% decline within a 5-minute candle – reaching a low of approximately $17,600. A potential catalyst for the sudden drop was significant outflows from bitcoin funds on Friday 17th June, with the Canadian Purpose Exchange Traded Fund (ETF) experiencing its investors redeem approximately 24,500 bitcoin or 51% of its holdings. The majority of ETF investors are institutions, with the inflows and outflows from these funds giving a good gauge of the institutional sentiment around bitcoin and risk assets in general. The drop was also contributed to by the developing contagion from the Terra debacle. The demise of Terra has continued to claim victims who just a few months ago were renowned as being market leaders in their fields. Most notably this includes Celcius and Three Arrows Capital (3AC). These two previously regarded behemoths have come under heavy fire from the declining market prices. The depressed prices have further impacted their low liquidity and highly leveraged balance sheets. Celsius halted all $8 billion worth of deposits from being withdrawn from their platform and 3AC was allegedly liquidated by FTX, Deribit and Bitmex due to them failing to provide additional capital for their poorly performing leveraged positions. Voyager, a crypto exchange, was also affected by 3AC’s demise with them still being owed 15,250 bitcoin and $350 million by the fund. News of this caused Voyager’s stock to cascade 40% lower on Wednesday accompanied by their token depreciating by 25%. However, as one giant falls another grows. Sam Bankman-Fried (SBF) has become somewhat of a liquidity-providing guardian angel for the crypto industry, with loans of $250 million to BlockFi, a centralised lending platform, and 15,000 bitcoin to Voyager via FTX and Alameda Research. Both of these entities SBF founded. FTX US has also utilised the depreciating market prices as an opportunity to sweeten their product offering through the acquisition of Embed Financial, an equities clearing firm that will provide custody and execution for FTX US’s newly launched feature to trade stocks – showcasing their eagerness to expand into alternative markets outside of crypto. Looking at the technical side, bitcoin appears to have found a range to consolidate within for the meantime, with support on the previous all-time high of approximately $19,800 and resistance around $21,300. Breaking out of the range, and making significant progress, may prove to be a challenge for bulls with the 200-week moving average looming overhead at around $23,300. The question on all traders’ minds is how long will this range hold and if $17,600 will be our local bottom for the foreseeable future? With the Federal Reserve’s Chairman Powell reiterating their hawkish stance and view for the increasing crypto regulation at Wednesday’s Senate Banking Committee hearing, it sounds like the potential relief we have seen over the past week should not be taken for granted. Additionally, further developments in the Terra fallout may be discovered further along the currently illiquid crypto path. This dark cloud will most likely keep all market participants with their tap-dancing shoes on and treading lightly as we further navigate these apocalyptic times.
INDEX:BTCUSD
by Coinrule
Errors in automated tradingHello everyone Surely you have heard about automated trading. You may even have used it. Today I want to talk about the mistakes that people make using automated trading. Let's go! 1. Back testing or forward testing Who really understands the creation of an adviser will be able to make the adviser bring 100% profit per month during back-testing, while trading with almost no risk. But do not rely only on the results of back-testing. Checking the adviser on the history is of course important and useful, but what is really important is how the adviser shows itself in real trading. After all, you will not be able to earn on what has already been, you need to be able to earn in the future. Therefore, it is very important to test any system on forward tests. Forward testing is real–time testing in real market conditions. This means that all decisions are made based on the history of quotes, but only the result that is generated in real time is considered a true representation of performance. 2. Data accuracy 70%-80% of the data on the Forex market, including those provided by brokers, is complete nonsense. Your system is as good as your data is, and if you can't rely on your data, then your system won't be able to do it either. Valuable data is quite expensive, and that's why so few people have it. You need to be able to clean the data for the correct operation of the system. A good system developer, even with a wonderful strategy, will fully understand its weaknesses and take appropriate actions to eliminate them. 3. Consider all expenses There are a lot of costs associated with trading, brokers are very well aware of this, and you should also know this. At a minimum, you should consider: 1) Spread – it is different on different instruments; 2) Commission expenses; 3) Slippage on various assets on which you are going to trade; 4) Broker delays in opening orders; 5) Infrastructure costs. 4. Risk and Capital management The key to all trading systems lies in the rules of risk and capital management. In order to completely change the characteristics of the strategy, it is enough to change these rules a little. The strategy developer must take into account all the details of his system. This is necessary not only to avoid everything that can blow up a trading account, but also for the purpose of emotional balance, in order to calmly leave your system or a working strategy and not interfere with it. There is one more thing we try to do – it is a daily analysis of open/closed positions based on the current market situation. This ensures that any gains or losses will be analyzed instantly. This avoids new such open positions and some emotional problems. This approach will quite easily confuse systems with unclear rules and those that have a rather attractive yield curve. 5. Investors are an emotional person For those who plan to develop successfully, this point is key, and it must be taken into account by everyone who will invest their funds in trading systems. You should remember that although you may feel good with 30% drawdowns and wild fluctuations in your equity, your investors will not share such feelings. If you want to move to the next level of development, you must cultivate a personality in which you can invest. As a rule, in the world of investments, this means applying a small leverage, allowing low drawdowns and earning consistent profits. A common, time-tested method of evaluating investments is the Sharpe coefficient. For a good investment, it should be at least 3, the maximum leverage should be 10:1, and the drawdown should be no more than 10% of both equity and balance. 6. Consider the limitations And the final key rule is that you need to know the limitations of your system. This includes both the trading conditions under which it will and will not work (no system is perfect) and its scaling. That is, if I pour $100 million into my account and my profit target is 2 points, then, most likely, slippage will swallow my entire profit target, and I will never see a profit from my investment. Even the infrastructure you use needs to be taken into account. For example, the MT4 platform, which is used by most brokers, works so slowly that at the time of the NFP exit, the difference between your planned and actual market entry price will be 10 points. If your system is price sensitive, then it will kill it. Yes, it happens. For the most part, our rules are based on common sense, but the vast majority of systems that we have encountered have never taken into account such errors. As a rule, even if the creators claim that the system takes them into account, this is not the case, since when answering these questions they are still far from understanding the essence. Paying attention to these things at the very beginning will allow you to save a lot of time, effort and develop an exceptional personality in you. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Education
by Lingrid
10
Was Bitcoin’s Dip Below $40,000 The Ultimate Bear Trap?Bitcoin's (BTC) price had a sudden break below the $40,000 significant psychological level, but the sell-off was short-lived, and the decline was quickly reversed. Investors are now asking whether the dip below the round number was the ultimate bear trap. Bitcoin Bear Trap? In technical analysis, the bear trap occurs when the market sells-off traps traders in believing that the uptrend is over and a possible reversal is underway. In a bear trap scenario, the price often breaks below a support level or a key technical point. The bears got the break below the $40,000 critical level, but so far, they definitely got burned by betting on the Bitcoin price crash. The technical landscape can give us more clues about whether BTC can hold above $40,000. Stochastic Oversold First, the stochastic oscillator bounced from oversold reading, and it expanded higher along with the price. Secondly, we have a hidden bullish divergence between the stochastic oscillator and the price. The hidden bullish divergence is a bullish reversal signal that occurs when the price makes a higher low while the indicator makes a lower low. Should BTC's price continue to rally out of its low, the following essential resistance level lies closer to March's high of $48,240, followed by the $50,000, the next significant milestone.
BINANCE:BTCUSDLong
by cryptohopper
New ApeCoin Crypto Analysis on Consolidation and Price ActionApeCoin (APE), one of the newest cryptocurrencies to launch on the Ethereum blockchain, already ranks in the top 100 cryptos by market capitalization. However, since the APE token was only launched on March 17, we have limited historical price data to assess the market sentiment. However, even a smaller historical price data sample can tell a story of what’s happening behind the curtain. Price Consolidation After reaching an all-time high of $28.00 on the day it was launched, APE's price pulled back and is now consolidating between the $16.50 - $9.50 range zone. Short-term, within this price consolidation, we can see some upside pressure. Up from the $9.50 support level, APE's price is trading within an ascending channel, with the price making a series of higher highs followed by a series of higher lows. Additionally, the RSI oscillator broke above the 50 mid-level to signal a strong bullish momentum behind the move. On the daily chart, we also have the potential of developing the 3 white soldiers pattern, which calls for a continuation to the upside. Looking forward: While the $10.00 psychological level holds the ground, the bulls have the upper hand. At the same time, a clear breakout above $16.50 can open up the door for a test of the next resistance, namely $20.00 followed by the all-time high of $28.00.
by cryptohopper
AAVE 2.5 Month Trendline Breakout Calls for a ReversalAAVE was the best performing crypto in the last 24 hours, gaining almost 13%. AAVE's gains are no coincidence, coming as the result of a classical trendline breakout signal that has the potential to signal a bottom. Trendline Breakout This is a fairly notable trendline, both because of its age and because it connects all the peaks printed in 2022. The breakout can signal a major shift in the market sentiment, but the bulls still need to clear the next major hurdle that comes around the $150 – $159 SR zone. RSI Momentum Yesterday was a big reversal day that was followed by a break of the RSI oscillator above the 50 mid-level. In mid-January and at the beginning of February, we had two failed attempts to break above the RSI 50 level. However, the sizeable bullish candle printed yesterday can signal that the outcome would be different this time. Looking forward: If the bulls manage to clear the $150 big psychological number, it will open the door for a possible test of the 0.382 Fibonacci retracement level, which perfectly aligns with February's peak. Ideally, we want the RSI oscillator to hold above the 50 mid-level to increase the chance of the current rally to extend.
by cryptohopper
Shiba Inu Smart Money Divergence Calls for a Potential BottomShiba Inu (SHIB) suffered a deep correction of about 80% from its all-time high of $0.00008864. However, recent price action development signals a potential bottom and a trend reversal. Often, major swings (highs or lows) can emerge when an asset is diverging from a benchmark index that tracks the market's overall performance – in technical terms, this is called relative strength. Relative Strength Signal If we compare SHIB's price against the altcoin index ALTPERP, which tracks the altcoin average market performance, we can observe that Shiba Inu shows relative strength. To measure the relative strength, we can compare the highs and lows of the two assets. On the one hand, SHIB's price has printed a higher low, which shows a shift in the price structure while, at the same time, the altcoin index printed a lower low. This tells us that Shiba Inu is outperforming its peers within the altcoin market. We can't currently call a bottom based on the relative strength signal alone because the current bounce lacks momentum. However, if we study the RSI oscillator, we can tell that most RSI readings are below the 50 mid-level, so the bearish momentum still persists. For a reversal to happen, two major things need to happen: 1. The RSI needs to break above the 50 mid-level 2. SHIB's price needs to break above its 200-day simple moving average Looking forward: The first major resistance level comes around the $0.00002662 level. On the flip side, the support level comes at the big round number of $0.00002000.
by cryptohopper
Automated Trading with Trailing Take Profit and Scaling ExitsAutomated Trading on Tradingview can be challenging. But with some strategies employing smart trading techniques, you can find your way to a reliable setup. There are many aspects of automated trading I've employed and studied. Those are as follows: Trailing Take Profits: Allowing a trade to surpass the original profit target if the price continues in your favor, followed by an offset value. Stop On Close: Waiting for a trade to close a bar below your stop loss before exiting a trade. Scaling Exits: Exiting a partial position at a set limit price between the entry and final take profit target. More info available on the chart.
Education
by PrismBot
1
Making Sense of AVAX Price through Elliott Wave AnalysisAvalanche (AVAX) has been one of the top-performing cryptocurrencies in the past 24 hours, with the price standing above the considerable psychological number of $100. Throughout this analysis, we'll show you how to apply the Elliott Wave theory to identify where we are in the overall bullish cycle. AVAX Elliott Wave Analysis Long-term Elliott Wave analysis suggests that AVAX price is in a bullish cycle from the September 22, 2020 low. Up from there, wave I ended with the $63.30 swing high with an internal subdivision as a 5-wave structure. Then, the price resumed lower in wave II towards the $9.25 low. The rally in wave III ended at the current all-time high of $151.22. We're currently resuming lower in wave IV, which has a high chance of being completed at the $72.0 swing low. Usually, there is an alternation between wave II and wave IV in Elliott Wave analysis. If wave II is an extended consolidation, then wave IV is a sharp correction, which is the case for the AVAX's price. Short-term, as far as AVAX's price remains above the $72 low, we can expect another rally in wave V to complete the five Elliot Wave sequences. We can already see the return of the bullish momentum on the RSI oscillator as the RSI already broke above the mid-level 50.
BINANCE:AVAXUSDLong
by cryptohopper
1
3 Things to Watch before Calling a NEXO BottomNEXO has been pulling back after it reached a 6-month high, but for the bulls to gain control of the market again, you need to watch for these 3 things: 1. Wait for the Stochastic RSI indicator to bounce from oversold readings. 2. The price needs to stay above the 200-day simple moving average. 3. The RSI needs to cross above the mid-level 50. 200-Day Simple Moving Average NEXO’s price needs to stay above the 200-day simple moving average. The 200-day SMA also aligns perfectly with the big round number of $2.00, which provides more confluence. RSI Oscillator Another factor to consider before calling a bottom is to wait for the RSI to cross above the mid-level 50. A crossing above the 50 level would signal the return of bullish momentum and subsequently the end of the pullback. Stochastic RSI Indicator Lastly, traders need to wait for the stochastic RSI crossover before calling a bottom; the fast stochastic needs to cross above the slow stochastic. Additionally, it’s better to wait for the stochastic RSI to bounce up from oversold readings. This will ensure again that NEXO is ready to climb higher.
by cryptohopper
AUDNZD short running ↘️👍We are using our POW reversal strategy for this trade a AUDNZD short. Trade details for current trade are shown on the chart. We are working the 30M time frame on this strategy. We're looking for the green line which is take profit target. Little red arrow is entry point and purple line is stop loss. Trade history can be seen at the foot of this trade idea too for full transparency. Previous trades can also be seen on chart two hit TP and one hit SL. Lets see how this one plays out. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren
Short
by pow_removetheguesswork
3
EURNZD short progressing 📉👌We are using our POW reversal strategy for this trade. Trade details for current trade are shown on the chart. Trade has been live since 1:45 UK time. We are working the 15M time frame on this strategy. We're looking for the green line which is take profit target. Little red arrow is entry point and purple line is stop loss. Previous trades can be seen on chart. The last long trade was covered in my last trade idea. Trade history can be seen at the foot of this trade idea too for full transparency. The history stats you are seeing in that box this time is for the month of October to today. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren
Short
by pow_removetheguesswork
3
CADJPY short in progress 👇👍We are using our trend following EDGE strategy for this trade. Entry details are shown on the chart. Working the H1 time frame on this strategy. We're only looking for TP3. The trade history can be seen at the foot of this trade idea too for full transparency. In the report box every trade is logged and can be viewed by clicking the tabs in the report box. You as the viewer of this idea can also do that so go ahead and have a play. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren.
Short
by pow_removetheguesswork
2
I'm in a GBPNZD short 📉🙌Trade details for current trade are shown on the chart. We are working the 15M time frame on this strategy. We're looking for the green line which is take profit target. Little red short arrow is entry point and purple line is stop loss. Trade history can be seen at the foot of this trade idea too for full transparency. Previous trades can be seen on chart also. The long trade on the chart was covered in an idea yesterday. A successful short happened after the long trade had banked profit. Now I am back in another short trade. In draw down at time of writing but we stick to the back tested proven plan and see where this trade ends up. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren
Short
by pow_removetheguesswork
2
GBPUSD short has signalled 📉📳We are using our trend following EDGE strategy for this trade. Entry details are shown on the chart. Working the H1 time frame on this strategy. We're only looking for TP3. The trade history can be seen at the foot of this trade idea too for full transparency. Previous trade a long can also been seen on chart. In that box every trade is logged and can be viewed by clicking the tabs in the report box. You as the viewer of this idea can also do that so go ahead and have a play. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren.
Short
by pow_removetheguesswork
1
Up date on AUDUSD idea from yesterday Yesterday I covered an idea for a strategy using our EDGE script. The idea covered AUDUSD working the 30 minute chart. The trade was a long idea that was progressing very well. After the trade I closed down for the day and the long trade closed as a sell then presented. What you are seeing in this trade is the now short trade playing out. The long trade I shared closed for some profit on this new short presenting. The idea below is the idea from yesterday With all my ideas I do state the two statements below. 'I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily' 'Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way' This is why I state the two statements above as this proves jumping on random ideas can lead to what has happened with this strategy. I share in ideas both with EDGE our trend follow strategy and also our reversal strategies in hope of giving people an insight to what mechanical trading looks like and can do for fellow traders out there. ----------------------------------------- Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren.
Short
by pow_removetheguesswork
2
EURCHF closing on 3 out of 3 😍💪Trade details for current trade are shown on the chart. It's a late share guys as I've only just got up. Trade has been live since 6 am UK time. Covered a fair bit of late and this is why I automate my scripts so trades are not missed. Previous trade can also be seen on chart. Both of the short trades on the chart have come at 6am UK time. We are working the 15M time frame on this strategy. We're looking for the green line which is take profit target. Little red short arrow is entry point and purple line is stop loss. Trade history can be seen at the foot of this trade idea too for full transparency. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren
Short
by pow_removetheguesswork
2
AUTOMATED TRADING BOTS: How to profit with Tezos.Tezos is one of the best token for our robot. Our robot mainly uses the DCA (dollar cost averaging) trading method. If the price drops, instead of the Stop loss order, we have a Buy limit order. This will also cause the Take profit value to drop and approach the current price. If the price falls and falls, the robot buys and buys. This keeps the Take Profit lower and lower. After that, the price of the token rises and our trade ends with Take profit, which is not far from us thanks to constant and precisely predefined purchases. The XTZ / USDT currency pair is suitable for our demonstration. You see very high volatility. It is through volatility that our robot can be profitable. If the price still went in one direction without frequent fluctuations and without "waves", the robot would earn very little. We need great volatility for big profits. Volatility in the TradingView platform will be helped by the Historical Volatility indicator. This indicator often (on this time frame) intersects the value of 50.00, which is rarely affected for low-volatile currency pairs. For example, you would look for Bitcoin very bad around 50.00 on this time frame. The key to our profitable trading bot is volatility! At a time of market colapse, when almost everyone is going through and positions in the Futures markets are being liquidated on a large scale, we are EXTREMLY profitable thanks to our robots. Of course, it is very important that you know how big the position is and how often, or at what intervals it is necessary for the robot to buy more. In no case is every setting of the robot profitable, on the contrary, setting up a profitable robot is not easy. You will learn how to set up a robot to be constantly profitable in our Academy. PS: One of the best things about trading with robots is that you remove all emotions and decisions. We wish you a nice day. UCT team.
Education
by UltimateCryptoTrader
I'm in a EURGBP short 📉We are using our trend following EDGE strategy for this trade. Entry details are shown on the chart. Working the H1 time frame on this strategy. We're only looking for TP3. At time of writing trade has been live since last night and is in draw down. However happy to share this trade and see where it ends up. Happy to share this idea as I'm working a proven strategy. How do I know it's a proven strategy? The trade history can be seen at the foot of this trade idea too for full transparency. In that box every trade is logged and can be viewed by clicking the tabs in the report box. You as the viewer of this idea can also do that so go ahead and have a play. I'll follow this trade now until TP is achieved, a new signal presents or stop loss is hit. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren.
Short
by pow_removetheguesswork
EURAUD long is valid 📈👍Entry details are shown on the chart. Working the H1 time frame on this strategy. We're only looking for TP3. Trade history can be seen below this trade idea too for full transparency. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren.
Long
by pow_removetheguesswork
Automating strategies keeps me sane 😊Running a strategy with a proven edge has me comfortable mentally on how a trade plays out, Be it a stop out or a take profit target met. Also automating those proven strategies and just letting them be helped with my mental state as a trader. Trade alerted 17:45 this afternoon and has been close once to TP. I didn't know this I was in the garden enjoying the late summer sun that has bestowed the UK this week 🌞 Once upon a time watching the charts would of had me thinking of closing to soon and then filling with regret as the retrace occurs that I didn't close. Only reason to look at chart tonight was a quick mid week review of trades and this trade is one of my open ones. Trade details are shown on the chart. We are working the 15M time frame on this strategy. We're looking for the green line which is take profit target. Little red arrow is entry point and purple line is stop loss. The current open trade still might not hip TP but I'm not allowing emotions to play a part I let the objective based plan play out. Previous trades shown on chart from the last two days. Trade history can be seen at the foot of this trade idea too for full transparency. These are year to date stats. How do you as traders journal your trades I'm intrigued to know? Having back test capability and a trade log which is possible through TradingView pine script saves me hours in manually logging trades as well as manually back testing. Having that level of data allows me to know I'm running a proven strategy and that I have an edge. The next key bit to staying sane/stress free and one of the best pieces of advice I could give as a trader is use technology available to your advantage. Trading shouldn't consume every spare minute. Most of us do this to escape the 9-5 so don't spend hours at charts unnecessarily. Not spending hours at charts is why I haven't shared all these trades on this pair and when this current one alerted. If your reading this tonight let this sink in I've only looked at this chart once this week when I shared my last idea yesterday on the pair in question. There has been three trades since then and I'm only just looking now! Take it from me find a strategy that works and then automate that strategy. Your mental health and well being will be the winner in the long run along with healthy account gains. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren
Editors' picks
Education
by pow_removetheguesswork
73