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When Can I Become a Full Time Trader?One question that constantly comes up, and understandably so is, When Can I Become a Full Time Trader? Being a trader is like running a business. You are the manager / owner / operator of "You, Inc." How much capital does it take to run your business? What's your monthly P&L? How much money do you need to have in "float" in case of emergencies (like, oh, I don't know, a global pandemic that sends the price of everyday items skyrocketing?) If your goal is to become a full time trader, where trading is your primary source of income and provides you with all of your material needs for now AND the foreseeable future, do you have a PLAN on how to get there? Do you know how much capital you need and / or what rate of return you need from your trading system and / or how many trades on average you need to generate your income target? Let's figure out how much Monthly income you need. First, take your monthly expenses. Include things like rent or a mortgage, a car payment, utilities, gas expenses for your car, etc. and total them up. Second, take all expenses that might be annual or irregular and put an amortized amount each month into a separate checking account for when they come up. For instance, HOA fees may be billed semi-annually. You may plan on a vacation every year. You may have to replace a major appliance every 3 years. Factor all those expenses and what it may cost as a monthly savings plan and put them into that account. These expenses would come out of that account without touching your monthly income. For example, it's easier to pay $69/month in expectation you will have to replace your fridge, stove, or set of tires every 3 years than to have to come up with an unexpected $2,500 when the fridge dies on you. With these initial stats, you know how much you need to make a living trading... just to break even. So, what does the responsible business owner (trader) need to do? DOUBLE that number so you are putting an equal amount in savings (for a rainy day / a down month / or the "nest egg") and factor in taxes, say an additional $35% in the United States - the top tax bracket. This final number is what you should comfortably want to make to consider yourself financially free – not dependent on ANY source of income except for your efforts in trading. Now, given how much money you want / need to live on, what type of trading performance against what amount of capital do you need to achieve this monthly desired income?  How much capital do you have in your trading account? What is the Win Rate of your current trading system? How much money do you earn on each winning trade and how much do you give back to the market on every losing trade? Finally, how many trades on average does your trading system find for you each day given the hours you work your trading business? Let's assume you have a $20K trading account, and you trade using the 1% Rule of Risk Management and the 3R rule of expectation – your Reward-to-Risk Ratio. Let's also say that your trading system is able to locate two trades per day during the timeframe that you are "working" the markets and your Win Rate is 50%. So, if you you win one trade and lose one trade each day, winning $600 and losing $200, you are netting $400 for the day. Multiply this by 20 (the average number of trading days in a month) and you will have an estimate of what monthly income you can generate from your trading account. An important question is then, "How many trades might you take per day?" For example, during one backtesting period I found that my trading system, Sabre, generates an average of 11.7 trades per day in the Futures Market on the 1-hour timeframe. If you decided that you would be trading Sabre for four hours per day, say from 5-7 in the morning and 8-10 at night, it would pull up an average of 2 trades per day.  Once you are armed with all this information: Your trading account size, your trading system win rate, your trading hours and trade frequency, you can calculate how much income you may be able to generate from your trading system given that all things go according to plan. And as Hannibal Smith liked to say, "I love it when a plan comes together!" Once you run the calculations, if you run short of what you would like to earn, you can now determine what action(s) you might want to take to get you closer to your goal in a quicker timeframe. For example, if your win rate is 30% with your current trading system what would it take to get it up to 60%? Do you need to check your psychology? Are you constantly leaving money on the table? Are you fearful of entering trades that you should have logically had no problem getting into? Should you join a trading group that is experiencing a level of success you want to achieve to help you overcome any technical or psychological hurdles? Mechanically, if your trading system is not giving you the number of trades necessary to reach your income goals, what can you do? Perhaps you can go down a timeframe. Theoretically, if you are finding 2 opportunities per day on the 60 minute timeframe, you may be able to find as many as 8 opportunities per day by going down to the 15 minute timeframe. Maybe it's about capital: If you have a $5,000 account you might find a way to  put another $10,000 in there and instead of having a $50/$150 Risk:Reward ratio with a $5,000 account you could have a $150/$450 Risk:Reward ratio with a $15,000 account.  One way to grow your account is to never 'withdraw' by keeping all profits until your account reaches the 'critical mass' necessary to generate the required income. That's the beauty of exponential growth! Additionally, perhaps you can add a second trade strategy to your mix. If you are a Supply-and-Demand trader maybe you can find a breakout strategy to take advantage of additional opportunities. After developing Sabre, my trend-trading strategy, I developed what we call the Clubhaul: a counter-trend strategy. Now I had 2 different strategies, increasing my daily number of opportunities to find successful trades. Having access to multiple trading strategies is like the handyman with three different hammers or multiple sets of screwdrivers: They each do a specific job under specific conditions, and it's not always the case that "one size fits all." What goes for the handyman's toolbox, is also applicable for your trading toolbox. To get to where you want to go you need to know where you are starting from. As G.I. Joe says, "Knowing is half the battle." So hopefully you can create yourself a spreadsheet and crunch the numbers and you can see (1) where you currently are in your trading journey (how viable is my trading plan, how much capital do I have, what hours will I be working the markets) (2) where you want to be ultimately (how much income do I want to generate on a monthly basis, how much capital do I need to consistently generate that income, and which strategy(ies) will get me there? and (3) what I need to DO to get from where I am to where I want to be. Trade Well!
Education
by ocaptain
146
EW FIBONACCI Ratios, FIB Retracement and Extension application !In this post, I'm going to focus on Fib Retracement and Fib Extension Ratios by Elliott Wave, and show you how to best use these tools. Fibonacci ratios are mathematical ratios derived from the Fibonacci sequence.The Fibonacci sequence is the work of Leonardo Fibonacci. Fibonacci sequence is used in many applications, movies and photography, space studies, stock market actions, and many other fields. Fibonacci is a proven approach for measure price movement relationships. For Elliott heads, it means Fibonacci numbers are tools to help guide us in our interpretation where we think price movements will go. The most common Fibonacci ratios used in the stock markets are: 1 - 1,272 - 1,618 - 2,618 -3,618- 4.23 (extension) 0.236 - 0.382 - 0.5 - 0.618 - 0.786 (retracement) Let's start with Elliott Impulsive Wave rules ! Wave 1: the beginning of each wave and retracet with Wave 2: may never retrace deeper than the beginning of wave 1 Wave 3: often the longest, but never the shortest Wave 4: may never retrace below the top of wave 1 Wave 5: x Fibonacci ratios : Wave 2 The most common retracements we look for in a Wave 2 pullback are either a 0.5 or 0.618 retracement of Wave 1 We expect only 12% of Wave 2 to hold 0,382 retracements of Wave 1 We anticipate 73% of Wave 2 retracements between 0,5 to 0,618 We anticipate 15% of Wave 2 to retrace below the 62% Wave 3 Wave 3 is related to Wave 1 Fibonacci relationships: Wave 3 is either 1,618 length of Wave 1 or 2,618 the length of Wave 1 or 4,236 the length of Wave 1 The most common multiples of Wave 1 to Wave 3 are the 1,618 and 2,618 If Wave 3 is extending, we typically look for 4,236 or higher Only approximately 2% will a Wave 3 be less than Wave 1 We anticipate 15% of Wave 3 trade between 1 and 1,618 of Wave 1 We can anticipate 45% of the time Wave 3 will push to between 1,618 and 1,75 We can anticipate 8% of Wave 3 will extend beyond 2,618 or higher Wave 4 Wave 4 is related to Wave 3 0,236 of Wave 3 or 0,382 of Wave 3 or 0,50 of Wave 3 or 0,618 of Wave 3 We can anticipate only 15% of the time Wave 4 to retrace between 0,236 to 0,382 We can anticipate 60% of the time Wave 4 to retrace between 0,382 and 0,5 We can anticipate 15% of the time Wave 4 to retrace between 0,5 and 0,618 We can anticipate 10% of the time Wave 4 retrace 0,618 or greater Wave 5 Wave 5 has two relationships. Wave 5 has a direct correlation to the Fibonacci relationship of Wave 3 1. If Wave 3 is greater than 1.62, or extended Wave 5 is a 1 to 1 or 1.618 of Wave 1 or 2,618 of Wave 1 I don't know any statistics, but in my experience a 1.618 or 1 to 1 is the most likely 2. If Wave 3 is less than 1,618. Wave 5 will often overextend.The ratio of Wave 5 will be based on the length from the beginning of Wave 1 to the top of Wave 3 Extended Wave 5 is either 0,618 from the beginning of Wave 1 to top of Wave 3 or 1,618 Unfortunately, my english is not so good and I work with google translate, but if you have any questions I will be happy to answer them . ➡️If you like my posts smash the like👍👍 button, comment or follow me. It helps me to publish more free education, also on request ⬅️ Fib retracement and Extension application follow 📚
Education
by TR7z
114
Central-Bank-Digital-CurrenciesHello, Welcome to this analysis about Central-Bank-Digital-Currencies in which I will explore the ongoing process by central banks to generate Digital-Currencies that replicate the individual Fiat-Currency, its characteristics, its possible manifestations, and its differences to the classical cryptocurrencies we all know as Bitcoin or Ethereum created in the beginning. Since Cryptocurrency was invented by the esteemed Satoshi Nakamoto publishing the open-source white-paper about Bitcoin as a completely decentralized Peer-To-Peer Digital-Currency which supply is limited and is generated through mining and the Proof-Of-Work concept many other decentralized cryptocurrencies emerged such as Ethereum or Litecoin that approved a secure and stable way of payment solutions operating within the determined blockchains. This completely new form of currency and the digital interface was watched by critics as well as supporters and a hype created with cryptocurrency enthusiasts accelerating the innovation process in cryptocurrency. On the other side, banks and governments watched the Cryptocurrency development not always with a non-critical eye, and especially in this process central banks took a greater study into the technology and the idea came into the foreground for digital currencies held and issued by the central banks that should replicate the real fiat-money which is printed by the central banks and distributed through commercial banks. The digital currencies that should be issued by the central banks became the name CBDC (Central-Bank-Digital-Currency) and today many countries' central banks started to work on pilot projects and prototypes to launch the digital replicate of fiat money, in some countries they are already launched and implemented in the economy. __ - Comparing The Classical Concept Of Cryptocurrency To The Central Bank Concept Of Digital-Currency The main characteristics of the classical cryptocurrency like invented in 2009 are that it is decentralized and that its supply is limited while the bitcoins are generated through the mining process there can be no more than 21 Million Bitcoins at all that defines the value of Bitcoin as miners need to improve the technological alignments to rightly mine the Bitcoins and come up with a mining-revenue to keep the process ongoing. On the other side, there is fiat money which is printed in the central bank printing press and which supply can be multiplied by will especially in times of crisis as it was in the last year the money supply increased exponentially by the central banks, this has an inflationary character and comes up with many other issues as in times of crisis the central banks need to print always more and more money as before. Now the fiat money printed by the central banks is issued to commercial banks with zero interests at this time and from there is supplied to the merchants and persons who taking up credits and which account money is held in a bank account as a "digital back-up" by the printed fiat money, the tendency with this bank account money is also to be multiplied by the banks and moved around in the system to be taken for credits so that one holds money in an account while it is used for the other individual's credit. Now as the central banks working on the digital currencies to substitute the fiat money in circulation the biggest difference is that its supply is not limited like it is in Bitcoin or many other cryptocurrencies, as the central bank fiat money can be printed further this is also the case with the upcoming central-bank-digital-currencies. Besides that the central-bank-digital-currencies are not decentral because they are issued by a central authority like the central bank, the system on which the CBDC is settled can be decentral however on a broader scale it is still centralized by the individual central bank, there is still a difference if the CBDC model is indirect, direct or hybrid nevertheless it is always centralized as the intern blockchain is created by the certain central bank. Another factor is also privacy as the public Bitcoin blockchain does not store any private user information, depending on the model with a CBDC this can be very different as there is indeed the possibility that private user information is stored in the blockchain by the central bank. Taking all these assumptions into consideration it comes to the conclusion that CBDCs aren't the same as the classical cryptocurrencies in common sense, it is rather a system that replaces the fiat money with digital money and gives the central bank much better opportunities to handle, store and track it with a faster network and potential storage of data. __ - Examining Models On How Central-Bank-Digital-Currencies Can Function With the gained assumptions it is important to note that there are different type models under which CBDCs can operate. Every model has its own characteristics and handles money circulation in an altered cycle. Besides that, the different models can have very different effects on the economy and especially on sectors like the banking industry or payment solution providers. Furthermore, the types on how payment data and information is stored differ within these models. It is highly necessary to recognize these concepts to assume how the CBDC infrastructure affects the economical landscape. The Indirect CBDC Model Within this model, the central bank keeps track records of wholesale accounts by the commercial bank as an intermediary between the central bank and the persons or merchants. The consumer as the person or merchant has a claim with the intermediary as the commercial bank and handles payments with the commercial bank. In this case, the intermediary handles all the communication with the consumer as retail clients and its net payment information, sending payment messages and storing the data. It would be a similar model to the actual credit distribution that exists with credits given by the central banks to commercial banks and from these distributed to the persons or merchants. The Direct CBDC Model The Direct CBDC Model functions differently from the Indirect one as the payments are handled directly between the central banks and the persons or merchants, in this case, receives, stores, and processes the information given by the consumer. This model is much more functional and practicable for the central bank as the commercial banks as intermediaries aren't necessary for the gateway. A full-scale implementation of this model will cause a higher decrease in commercial banks at all of which the sector already struggles, the model would further this process. The model would also set the central bank as the central authority handling all the payment relevant mechanisms with the consumer as persons or merchants. The Hybrid CBDC Model In this model the Persons or Merchants have a direct claim on the CBDC with the central bank while an intermediary, in this case, a PSP (Payment-Service-Provider) keeps track of the payments information and handles direct payments, the PSP in this case does not need to be a bank essentially. It is also integrated within that when technical issues come up with failures in the system that the central bank can handle direct payments with the consumers and restore retail balances. This system offers more flexibility at the cost of a more complex infrastructure to operate for the central bank. Besides that, it has a similar negative effect on the banks like the direct model as banks arent necessarily needed for the payment communication. __ It is not unlikely that the development of Central-Bank-Digital-Currencies will keep going within the upcoming times, therefore it is necessary to elevate how these diverging models can affect the actual economy. As many countries moving on with the projects and prosecution of CBDCs these will be realized in a more fulfilled way with a high possibility and it will be an important question on central banks will govern these CBDCs as they aren't decentralized like the cryptocurrency roots they can not be held as a direct comparison to these and are indeed a fiat money replication in digital terms, it will definitely open new doors for the central-banks money policy however what it has for effects on consumers as peoples or merchants is a serious examination. Thank you, for watching, it was important for me to scrutinize the significance of Central-Bank-Digital-Currencies and elevate a perception to this omnipresent topic. In this manner what do you have for an opinion of Central-Bank-Digital-Currencies implementation? Let us know in the comments below. Information provided is only educational and should not be used to take action in the markets.
COINBASE:BTCUSDEducation
by VincePrince
40
HOW TO: Trading the WallStreetBets Stonks with Cascading StopsHadn't seen any videos of anyone doing something as silly as this (which of course fits into the WSB philosophy) so thought I'd make a video of it and share it in case it amused or inspired anyone else. Just something I have been having a bit of fun with over the last couple of weeks. You could do this with any broker, but I REALLY like the simplicity of doing this all within TradingView and using TradeStation as the integrated brokerage free broker. Note: You would not do this if you were paying brokerage. What I do is: 1. Create a list of WSB type stocks. 2. Watch in the pre-market to see which ones are getting the attention. 3. Try and buy as early in the move as your broker allows. 4. Add a stop loss a bit below your buy price - eg 5% or so. Nice and tight. 5. As the stock price moves up, start to break down your stop loss into lots of mini stops. Idea is that as the stock moves up, you are moving your stops up, BUT rather than one big stop that gets your whole holding exited, you can place lots of smaller stops (even place some ahead of the price) so that as volatility happens you auto exit some of your position hopefully taking profit along the way. Rinse and repeat. Definitely NOT trading advice. As before, it really is a silly idea, but hey its also a bit of fun for now and seems to work reasonably well for these kinds of stocks that spike big in one day and then start to equally quickly pull back. Might be better to simply buy and hold them, but you never know when they will inevitably come crashing down, and more so which one is going to be the focus of the day. Like and subscribe if you like it. One of those videos you can skip through once you see the initial concept...
NASDAQ:CLOVEducation
by zAngus
104
EDUCATION - Identifying & Trading Flag Patterns In this post, we will be explaining what a flag patterns is and how to identify and trade them. What is a Flag? The flag pattern is the most common continuation patterns in technical analysis. It often occurs after a big impulsive move. The impulse move is followed by short bodied candles countertrend to the impulse move, which is called the flag. It is named because of the way it reminds the viewer of a flag on a flagpole. Often, the breakout of the flag is the same size as the impulse leading to the flag. We can use this to create our take profit levels. There are 2 types of ways we can trade flag patterns; Risky Entry & Safe Entry. See below for the pros and cons for both and how to enter them _______________________________________________________________________________ Risk Entry: The reason why it is called a risk entry is because we haven't got many confirmations apart from the bounce off the fibonacci level. Price may have the potential to go lower for a deeper correction before moving up. Whereas for the safe entry, the confirmation that it is a valid flag would be the break of the flag pattern. How to trade using Risk Entry: Wait for price to bounce off the fibonacci levels (0.5 or 0.618) and then enter with stops below/above the correction. One of the advantages of doing a risk entry is that we can have small stop loss and have a great risk:reward ratio. Also, we can gain an entry at the start of the move and HODL! Safe Entry: Safe entry requires more than one confluence and requires confirmation. We have the rejection of the fibonacci level as well as a breakout of the flag, confirming that it is a valid flag pattern. How to trade using Safe Entry: For a safe entry, enter upon the break of the flag pattern with stops above/below the flag depending on whether its a bull or a bear flag. First TP would be the recent structure level and second TP would be the length of the impulse which led up to the correction. The disadvantage to using a safe entry is that we require a bigger stop loss which makes the risk:reward ratio not as great as the risk entry. However, the probability of the trade succeeding is higher. _______________________________________________________________________________ EXAMPLES OF RISK ENTRY EXAMPLES OF SAFE ENTRY
Education
by Altsignals
48
Do you fell stressed with trading? 😒🙎‍♂️😰I want to start the morning by not posting a usual trade idea setup. But to talk more about the methods I now use for my trading and how they have alleviated negative feelings which can occur with trading. A while ago I opted to switch to an systematic objective based approach for my trading. This was down to numerous factors which you will find on the drawings in this idea. Since adopting a objective based approach with set rules coupled with rigours back tested strategies. All of the subjective traits you see on the left of the idea drawing have disappeared. And all of the objective based traits seen on the right idea of the drawing have now become the norm in my trading life. When laid out in the drawing of this idea it's hard to think why you wouldn't adopt these behaviours to your trading. I hope this gives you all food for thought as we start we the trading day. ------------------------------------------ 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
UEducation
by pow_removetheguesswork
22
📖 Trading Books 📖As a trading coach & mentor, I often get asked about where to go and find resources. Anything from books to specific strategies. So I thought it would be interesting to not only share with the community some books I have liked over the years. But to ask for your favorite books, any suggestions - any thoughts on the books listed? Even if they're slightly outside of the conventional trading manual concepts - there are some great Wall Street stories, banking or business esq books. Be great to get some conversations going! Here's the second wave. The next wave - moving away from trading manuals per se; Another list; And lastly some books worth mentioning but were just off the top 20 spot. So what are your best books? why? what do you make of some of the books mentioned? Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Education
by Mayfair_Ventures
52
Best Books on Stock Market & Finance📚 Books are always the best way to acquire knowledge even in the presence of latest technologies/e-books/videos. There are 1000s of books in the market. So I have picked the best ones according to me! 📚 I have sub divided the books to acquire knowledge in any specific field 💲 Finance and Motivation - For knowing more about money and it's fundamentals. Suitable for - Anyone with the interest to know about money 💲 Technical Analysis - Knowledge about candle sticks and other trading patterns Suitable for - Anyone with the interest to know the technical analysis done by traders 💲 Fundamental Analysis - Knowledge about the base of a company with it's fundamentals/results Suitable for - Anyone with the interest to know and analyze fundamentals of companies for investments. 🤔 Pre-requisites - None of the above book require any prior knowledge. Thank you for viewing book recommendations. Let me know through the comment section if you have any doubts or feedbacks. All the best! Happy trading/investing :) 😄
NSE:SBILIFEEducation
by Omsai1238
74
Heikin Ashi Charts vs. Candlestick ChartsFollowing price action is at the core of markets. One glance at a chart can show you a trend, trade idea, or serve as a quick way to check the holdings in your portfolio. Candlestick charts are one of the most popular ways to look at price action. A single candlestick shows the high, low, open, and close for a specific time period. This means that a lot of price information is stored in a single candlestick . However, sometimes, that price information is filled with volatility or chaotic trading. That's where Heikin Ashi charts are most useful - they smooth out the price by showing an average price range rather than the exact measurements. In fact, Heikin Ashi charts were developed in Japan and the word Heikin means “average” in Japanese . For those who invest over long-term horizons or look for sustainable trends, Heikin Ashi charts can be an effective way to smooth out price and show clearer trends. The key to understanding Heikin-Ashi charts is to remember that each bar, whether it's red or green, shows an average price range for a specific time period whereas a candlestick chart shows the exact price levels for that time period. The formula for a Heikin Ashi looks like this: Open = (Previous bar open + previous bar close) / 2 Close = (Open + High + Low + Close) / 4 High = Highest point whether it's the open, high, low or close Low = Lowest point whether it's the open, high, low or close Make sure to test out these two different chart types and have some fun. There is no better way to learn than to compare and contrast the two types of charts as we are doing in this example. Remember, it is also about your personal preference. Do you want to see every granular detail in price action? Or do you want to see an average price of that trading action? This is entirely up to you and the tools are here for you to try. NOTE While Heikin Ashi and other non-standard charts can be useful to analyze markets, they should not be used to backtest strategies or issue trade orders, as their prices are synthetic and do not reflect bid/ask levels at exchanges or brokers. If you need more information to understand why that is, have a look at these publications:  • In the Help Center: Strategy produces unrealistic results on non-standard chart types (Heikin Ashi, Renko, etc.)  • From PineCoders: Backtesting on Non-Standard Charts: Caution! Thanks for reading and please leave any comments or questions if you have them! Comment : P.S. Someone asked how they can select Heikin Ashi. Click the dropdown at the top of your chart where it currently shows either your Candlestick or Line chart options. Then select Heikin Ashi from the dropdown menu.
Education
by TradingView
15
BASICS OF SAVING & INVESTMENT | RULES YOU SHOULD NEVER BREAK Debt and living on credit is a universal norm . While the "wisest" among us are trying to persuade themselves how they "hack" the system buying on credit card smartly, the richest among us keep following totally different commandments . You must remember that debt makes you dependent , it makes you submissive to the system. To become truly free and wealthy, here are the simple rules that will change your life if you follow them: 1 - Spend less than you make 2 - Do not save what is left after spending, but spend what is left after saving 3 - Invest the rest in the industries that you understand 4 - Never borrow to invest 5 - Stop trying to get rich quick 6 - Never let your emotions intervene 7 - Patience pays The rules by themselves are very easy and straightforward, however, most of us are not disciplined enough to follow. Learn them, try them, practice them and one day you will become free! ❤️ Please, support my work with like and lovely comment !❤️ It truly helps! Thank you!
COINBASE:BTCUSDEducation
by SignalProvider
18
Learn more about Indicators using the Help CenterThe Help Center is a great resource that offers a lot of information for users on all kinds of topics. Within the Help Center is the “I’d like to learn more about indicators” page which holds a vast amount of information about built-in indicators that are offered on TradingView. You can access the information on these indicators by following the directions above or by visiting this link: www.tradingview.com It is important to note that user created indicator’s and scripts are not featured here, only TradingView’s built-in indicators. Take a look around the help center today! Are there any other areas that you have found useful in the Help Center?
BITSTAMP:BTCUSDEducation
by TradingView
47
Tutorial | How To Get Real-time Futures Data Into TradingViewWhen you create an account on TradingView, you're pretty much set for realtime stock, forex, and crypto data. Want to know the price of Bitcoin or Apple? No problem. But futures data is a different animal. In this tutorial I demonstrate how to use a demo account from one of the integrated futures brokers to get futures quotes so that you can practice trading the futures markets using the trading features on TradingView.
CME_MINI:MNQM2021Education
by RodCasilli
79
Five Ways To Use The Multiple Chart LayoutOur multiple chart layout tool gives traders and investors an easy way to study multiple symbols or timeframes at once. In this post, we'll explain five ways to use the multiple chart layout feature to optimize your process. Chart different timeframes If you look closely at the charts above, you will notice that there are different timeframes for each chart. One is a daily chart, one is a weekly chart, and another is a 30-minute. The multiple chart layout makes it possible to see these different timeframes all on the same screen. If you search for trades and do research on all time horizons, this is an important feature to master. Customize the look and feel of your layout Every trader and investor is different in their approach. That's why it's important to have customization tools available. Each chart in the example above uses a different color gradient as its background. The chart farthest to the right is also a line chart while the other two show candlesticks. When using the multiple chart layout you can create your own custom workspace to match your individual style needs. Diversify your indicators The charts above also show different indicators. For example, the yellow line farthest to the left is a Moving Average while chart in the middle shows a Volume Profile and the chart on the far right shows only volume. You can add only the indicators that matter for each specific chart within your layout. Chart different symbols at once In the example above, we're looking at three totally different symbols, but all viewable on one screen. This way we can follow price action, study similarities, and look for ideas across different assets. It speeds up our research and is another helpful way to monitor different symbols across the market. Sync your charts With the click of a button you can sync the symbol, crosshair, interval, time, and drawings for all charts in your layout. To get started, click the layout button at the top of your chart and then find where it says "SYNC ON ALL CHARTS." From this menu you can select the syncs you need so that they all update instantly. Thanks for reading and we hope you enjoyed this post! If you have any tips, suggestions or feedback to share about the multiple chart layout please write it in the comments below.
NYSE:AMCEducation
by TradingView
75
Creating Lines with ShortcutsCreating lines on a chart is one of the most fundamental methods of charting when performing technical analysis . Being able to create these effectively and quickly is a very useful skill to have. Horizontal, Vertical and Cross lines can all be found on the drawings panel to the left of the chart in the subgroup “Trend Line Tools”. These tools can be added by selecting them from the subgroup and then placing them on the chart. However, a more efficient method to creating these lines is to utilize the hotkey functions: Horizontal Line Shortcut: - Alt+H (PC), or Option+H (MAC) Vertical Line Hotkey: - Alt+V (PC), or Option+V (MAC)

 Cross Line Hotkey: - Alt+C (PC), or Option+C (MAC) Becoming more efficient in your ability to draw lines on your chart will allow for quicker identification of areas of support/resistance and times on your chart. Be sure to visit our help center to learn more about these tools! More information on the Horizontal Line tool: www.tradingview.com More information on the Vertical Line tool: www.tradingview.com
 More information on the Cross Line tool: www.tradingview.com
BITSTAMP:ETHUSDEducation
by TradingView
12
The Great men of the trading worldAs a trader of over 20 years, there has been a lot of trial and error. A lot of learning, it’s still continuing! I wanted to share some interesting pointers with the community; People see charts really look deeper than that. I regard a couple of men in trading terms as the “Greats” Would there be others you consider? Why? Let’s start – the only order is the age (timestamp) rather than preference to their work. Charles Henry Dow (November 6, 1851 – December 4, 1902) was an American journalist who co-founded Dow Jones & Company. Little known fact, Dow also co-founded The Wall Street Journal, which has become one of the most respected financial publications in the world. He also invented the Dow Jones Industrial Average as part of his research into market movements. This guy has his own chart. He developed a series of principles for understanding and analyzing market behavior which later became known as Dow theory, the groundwork for technical analysis. Dow theory explained The Dow theory is based on the analysis of maximum and minimum market fluctuations to make accurate predictions on the direction of the market. According to the Dow theory, the importance of these upward and downward movements is their position in relation to previous fluctuations. This method teaches investors to read a trading chart and to better understand what is happening with any asset at any given moment. With this simple analysis, even the most inexperienced can identify the context in which a financial instrument is evolving. Furthermore, Charles Dow supported the common belief among all traders and technical analysts that an asset price and its resulting movements on a trading chart already have all necessary information already available and forecasted in order to make accurate predictions. Based on his theory, he created the Dow Jones Industrial Index and the Dow Jones Rail Index (now known as Transportation Index), which were originally developed for the Wall Street Journal. Charles Dow created these stock indices as he believed that they would provide an accurate reflection of the economic and financial conditions of companies in two major economic sectors: the industrial and the railway (transportation) sectors. ------------------------------------------------ This is another interesting topic in it’s own right, but not for this article. “Pride of opinion has been responsible for the downfall of more men on Wall Street than any other factor.” Charles Dow. ------------------------------------------------ Many of our modern techniques fit into Dow theory in some way, shape or form and most people do not realise this. ===================================================================================================================================== R.N Elliott – Elliott waves to most Ralph Nelson Elliott (28 July 1871 – 15 January 1948) was an American accountant and author, whose study of stock market data led him to develop the Wave Principle, a form of technical analysis that identifies trends in the financial markets. He proposed that market prices unfold in specific patterns, which practitioners today call Elliott waves. Elliott Said “The forces that cause market trends have their origin in nature and human behaviour” as well as “Forces travel in waves, as demonstrated by Galileo, newton and other scientists.” -------------------------------------------- Wave Theory In the early 1930s, Elliott began his systematic study of seventy-five years of stock market data, including index charts with increments ranging from yearly to half-hourly. In1938, he detailed the results of his studies by publishing his third book, The Wave Principle. Elliott stated that, while stock market prices may appear random and unpredictable, they actually follow predictable, natural laws and can be measured and forecast using Fibonacci numbers. Soon after the publication of The Wave Principle, Financial World magazine commissioned Elliott to write twelve articles (under the same title as his book) describing his new method of market forecasting. In the early 1940s, Elliott expanded his theory to apply to all collective human behaviors. His final major work was his most comprehensive: Nature's Law –The Secret of the Universe published in June, 1946, two years before he died. In the years after Elliott's death, other practitioners (including Charles Collins, Hamilton Bolton, Richard Russell and A.J. Frost) continued to use the wave principle and provide forecasts to investors. Frost and Robert Prechter wrote Elliott Wave Principle, published in 1978 (Prechter had come across Elliott's works while working as a market technician at Merrill Lynch; his prominence as a forecaster during the bull market of the 1980s helped bring Elliott's wave principle its greatest exposure up to that time). I wrote a few months back an article on the application of Elliott (Click the image for the link.) ============================================================================================================================= Richard Wyckoff This method has had a lot of popularity recently on social media and in @TradingView Richard Demille Wyckoff (1873–1934) was an early 20th-century pioneer in the technical approach to studying the stock market. He is considered one of the five “titans” of technical analysis, along with Dow, Gann, Elliott and Merrill. At age 15, he took a job as a stock runner for a New York brokerage. Afterwards, while still in his 20s, he became the head of his own firm. He also founded and, for nearly two decades wrote, and edited The Magazine of Wall Street, which, at one point, had more than 200,000 subscribers. Wyckoff was an avid student of the markets, as well as an active tape reader and trader. He observed the market activities and campaigns of the legendary stock operators of his time, including JP Morgan and Jesse Livermore. From his observations and interviews with those big-time traders, Wyckoff codified the best practices of Livermore and others into laws, principles and techniques of trading methodology, money management and mental discipline. From his position, Wyckoff observed numerous retail investors being repeatedly fleeced. Consequently, he dedicated himself to instructing the public about “the real rules of the game” as played by the large interests, or “smart money.” In the 1930s, he founded a school which would later become the Stock Market Institute. The school's central offering was a course that integrated the concepts that Wyckoff had learned about how to identify large operators' accumulation and distribution of stock with how to take positions in harmony with these big players. His time-tested insights are as valid today as they were when first articulated. Although it seems complex – the logic still holds strong and has been seen even in recent Bitcoin moves. (click article – below) to see the types of Schematics. --------------------------------------------- Wyckoff said “Successful tape reading is a study of Force; it requires ability to judge which side has the greatest pulling power and one must have the courage to go with that side.” ================================================================================================================ WD Gann William Delbert Gann (June 6, 1878 – June 18, 1955) or WD Gann, was a finance trader who developed the technical analysis methods like the Gann angles and the Master Charts, where the latter is a collective name for his various tools like the Spiral Chart (also called the Square of Nine), the Hexagon Chart, and the Circle of 360 Gann market forecasting methods are purportedly based on geometry, astronomy and astrology, and ancient mathematics. Opinions are sharply divided on the value and relevance of his work. Gann authored a number of books and courses on shares and commodities trading. There are several techniques using Gann methodology; Here’s one on Gann Fans Gann said “Time is more important than price. When time is up price will reverse.” ===================================================================================================================== Another great man worth a mention, purely on these quotes 😉 If everyone is thinking alike, then no one is thinking. Benjamin Franklin Wyckoff would call this composite man logic! Make yourself sheep and the wolves will eat you. Benjamin Franklin And this is how I feel the crypto market is currently looking. Any others you think should be on the list, mention in comments and why? Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Education
by Mayfair_Ventures
139
Key Patterns Of Price ActionKey patterns of price action. Below I will describe several key patterns, but on the diagrams you can see the analysis from a technical point of view. And also please pay attention to the rules, which I do not advise to ignore. The Cup with a handle pattern is formed according to the following logic: - On an upward movement, the bulls cannot push through the next resistance level , a correction begins. It is undesirable that there were impulses during a rollback, a moderate downward movement should be observed; -By basic rules, the bottom of the cup should be formed in the area of correction levels. A deeper rollback is allowed in modified models. In case of a deep correction after entering the market, the position is transferred to breakeven as soon as possible, the probability of the trend continuation is lower, it is better to insure; Double bottom It all starts with the formation of a new low on a downtrend, after which a rollback against the trend occurs. Then, the price goes down again and rests against the previous low. And finally, after pushing off from this level, an upward movement begins, which breaks through the level of the previous local maximum. It is after the breakout of this level (confirmation line) that the final formation of the 'Double Bottom' occurs and you can start buying. The same is with a reversal in an upward market. After the first high, the price should fall by at least 10%. Otherwise, it will mean that the bears are not strong enough. Saucer Let's start with the shape of the figure. Contrary to its name, the correct shape of the 'Saucer' figure rather resembles a bowl. As you can see, the figure is formed by a smooth price movement along a parabolic trajectory. The first half of the figure (the left side of the saucer) is a smooth descent from the edge of the saucer to its bottom. The second half of the figure (the right side of the saucer) is the same smooth rise from the bottom to the edge. Ideally, the second half should be a mirror image of the first. And the bottom should in no case be sharp . The classic 'Saucer' is formed, as a rule, on large timeframes from D1. But you can also find him on H1. Flat base In trading, the term flat means an area on the chart, without a clearly defined direction of price movement, that is, a trend. In other words, flat is the opposite of a trend. Misc Rules -all BP = 10 pips -ideal prior uptrend >30% -for wks abv avg vol: #up>#down -up 20% for new base - undercut base resets base count - 66% or 3rd stage base fails - 80% of 4th stage base fails - in base bottom look for - shakeout - tight closes - volume dryout - accumulation
Education
by DeGRAM
18