Get started

Forextrading

Entry Points for our 5th Wave Trades - EURUSD 30min ExamplePart of our Elliott Wave Indicator suite are our 6/4MA High and Lows which are designed to allow traders a sensible entry strategy for long and short 5th wave trades. In this example a great 5th wave trade was entered on EURUD on the 30 minute time frame using our Elliott Wave Indicator Suite for TradingView. The green arrow on the chart highlights the short entry through our Red 6/4 MA Low. As with 80% of our 5th wave trades, our 5th wave automated target zone was hit. You will also notice our Elliott wave oscillator pulled back on the 4th wave within our parameters along with crossover of false breakout stochastic. These are special tools, along with out probability pull back zones that allow use to measure the behaviour of the 4th wave. This is important to help identify High Probability 5th wave moves. Find out more bout our Elliott Wave Indicator Suite for TradingView >>>HERE<<<
Education
by xBratSoftwareSolutions
The Right Goals in Trading Which You Must KnowAs I can see, tutorials are not so popular in TradingView if compare them with trading signals. But in spite of this fact, I want to keep sharing my ideas and experience about - How to trade properly in the financial markets. Of course, I can't teach you how to become successful in trading just write for you 10, 20, 30 such posts. Without your wish, you won't be able to become a good trader. Aslo, if you don't want to avoid mistakes reading my posts, it is only your choice. It is your money and how to use them depends on you. What I want - just to push you in the right direction. Show you the alternatives. And I hope for someone it will be the starting point of the proper trading. I will be grateful if you support my tutorials by your LIKEs and comments. It will keep my motivation to share my personal experience here. In my previous post, we talked about goals in trading in the format "Profitable Trading Vs Proper Trading". Get more details in the related ideas. Today, let's talk about goals in trading from another point of view. What is the main goal in trading? What is the 2nd goal in trading? What is the 3rd goal in trading? If I ask you these questions, what will you answer? If you are a novice trader, probably you will tell me that the main goal in trading is to make profit. As for other goals, there will be many different variants. It is logically, and of course, all traders want to use financial markets for making money. But don’t you think that this goal and more than 90% of losers can be related in trading? When you focus only on getting money, you forget or you don't have time to think about other, much more important things. How to protect your capital? How to manage your capital properly? How to trade? How to control emotions? Your main goal is - to make money, a lot of money. You want to become rich as soon as possible. You think only about how to reach this main goal. Become rich very quickly and without efforts. Such an approach can be a reason why many traders lose their money. From my experience, and believe I have a lot of examples, when a novice trader thinks only about profit, he or she is not far from blowing up the capital. As a result, we have more than 90% of failed traders. In order to avoid this situation, I suggest you to change the typical way of thinking. Stop focusing on profit. Start thinking about - how to protect your capital in every single trade. Focus on protecting your capital in the long run. What if you face with 10 wrong trades? What if you face with 20 or maybe 30 wrong trades in a raw? How will you protect your capital? Only after understanding how to do it and after becoming an expert in this field - you will have a chance to succeed. Trading is risky. There are no 100% reliable signals. It means that every trade you open can destroy your capital. That’s why risk and money management are so important in profitable trading. When you start using the right risk and money management strategies, the next step can be like - you need to think about profit. You need to focus on making small but stable profit. How to make 1USD, may be every day or every week? It does not matter. The main goal is to be in profit in the long run. With the right money management and with profitable trading, you will be able to increase the size of profit in the future. But for this period the size is not important. Yes, even 1USD every week, in the long run, must be much better for you than 100 000USD as one-time successful trade. After becoming profitable in the long run, you should think about how to get extra profit. Only after passing the previous steps you can search for very profitable trades, work with increased risk, interesting market conditions just in order to get more than your average profit. Such an approach will help you to manage your money not only properly but also effectively. But when you focus on super-profits from the beginning, you miss all the important steps and elements which must be in your trading. As a result, you do the best for becoming one of failed traders. My list of goals which I would like to recommend: The 1st Goal - Protect Your Capital The 2nd Goal - Make Small but Stable Profit The 3rd Goal - Think about Extra Profit Trading will be profitable for you with this approach. But you can test another one!
BITSTAMP:BTCUSDEducation
by DLavrov
37
Proper Trading Vs Profitable TradingIf I ask you what type of trading you would like to reach, I guess that the majority will pick the profitable trading as the main goal. And it will be not so good. Let’s think together why and discuss it in comments below this post. What does it mean profitable trading? It means that you trade for making money. It sounds like a good goal, of course, but for reaching it, you need to have knowledge and experience or a piece of luck. Novice traders don't want to spend time getting knowledge and experience. They want to start making money as soon as possible. That's why profitable trading as a goal is good for them. Yes, everyone can make a profit in trading. Even without knowledge, even without experience, even without trading plan and trading strategies. You need just a piece of luck for this. Everyone can make profitable trading. But what about making profit day by day, week by week, month by month and year by year? In this case, relying on luck is not a good idea at all. Just one day without luck can destroy all your profit and get all your money. Profitable trading as a goal is not so good if you don't have enough knowledge and experience and very risky without them. What about proper trading? Proper trading means you do the right steps in trading. It means you have the proven trading plan included tested trading strategies, the proper money management strategies. Your work is to follow your trading plan day by day. With such an approach, you will be able to avoid mistakes. You won’t need luck for making profit as your profit will depend only on your trading plan and how you will follow it. It is absolutely another picture, and you can expect stable and profitable trading in the long run - day by day, week by week, month by month. For this, you just need to do the right steps = follow your trading plan. That’s why when we talk about goals in trading, I would like to recommend set the right goals. Learn how to trade properly is one of them. Focus not on profit but focus on your trading. If you do the right steps, profit will come, and it will be stable income in the long run. If you rely on luck in trading, you will fail. It is just the question of time.
BITFINEX:BTCUSDEducation
by DLavrov
10