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Possible GBP/USD Short position !!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 4-12 Hrs Actions on - A – Activating Event Market will meet resistance in zone @1.3225 - .... and fall to the @1.3175. In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 1.3175 FX:GBPUSD Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 1.3175 Target 2 @ .... Risk/Reward @ 2.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
2
Possible GBP/AUD short Position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1-3 days Actions on - A – Activating Event Market will meet resistance in zone @1.864 - .... and fall to the @1.79. In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 1.79 FX:GBPAUD Trade Management Entered @ Sign up for mentoring Stop Loss @ Sign up for mentoring Target 1 @ 1.79 Target 2 @ .... Risk/Reward @ 6.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Join our Mentoring Program TODAY!! twitter.com Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
5
Possible NZD/USD Short position!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1-3 days Actions on - A – Activating Event Currency Pair creating a Double Top . B – Beliefs Market will find resistance at current levels at @ 0.6848 - 0.6893 levels and move towards the first Target 1 level @ 0.671 FX:NZDUSD Trade Management Entered @ Sign up for details Stop Loss @ Sign up for details Target 1 @ 0.671 Target 2 @ Risk/Reward @ 2.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
1
Back Testing - Evaluating your Trading Strategy 101SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Back Testing - Evaluating your Trading Strategy 101 Backtesting of technical methods in light of past prices is the most popular testing strategy among technical traders.Below is a short list that will get you started; 1. How many trades does it generate? .............................................. 2. Whats the reliability of the system? ............................................... 3. How big is the average profit compared to the average loss? ............................................................................. 4. Many more.............. #Remember that you need enough data to create at least 30 trades in each test # Please let me know if you would like to know more :) Happy Trading "success occurs when opportunity meets preparation" Zig Ziglar
TVC:GOLDEducation
by SMPTrader
AUDJPY - a different wayIn this screencast I show a different way of tackling the markets. This is about trend-following which is a pretty difficult methodology - but it is the most powerful and potentially rewarding. I show how I made a decision to short. I am not promoting my own methodology. I encourage all new and seasoned traders to explore different methodologies to find what works best for them. I briefly mention EBTA but I'm anxious about providing a reference. EBTA is not a service or a broker. It is the result of scientific analysis undertaken around 2007, of some 6400 rules used by traders. The outcomes probably explain why roughly 80% of all trading accounts lose money consistently. Those who wish to discuss can message me (I'm selling nothing).
Education
by Captain_Walker
Make Tradingview your Asset to PROFITS - Steps to FollowFOREMOST.... this is NOT a hate post to discredit valued publications of 'HONEST' Tradingview members It is a cautionary advisement.. to educate new traders and open your eyes So you are NEW to trading.. or new to Tradingview This makes you easily influenced.. because let's face it.. - you are eager to learn - you want to learn from the best - you want profitable trades - you want it all.. and NOW ::LOL:: so did I when I first started trading... but since learned to trust my own calls above everyone else's. Though I depend on GOOD TA from others to 'check' my baselines... my 75% success in trading and ability to make a living doing this... also comes from the fact I am former psychotherapist... and marketing expert who owned a finance company with 100 brokers... My therapist nature is what motivated me to share this knowledge. Wisdom: The more you give in life, the more you are rewarded. --- Outline of this Ongoing Education --- Please resist the urge to skip sections of this reading As much as you think you know... You are bound to hear something New and Valuable: SECTIONS 1 - 3 - Locate a balanced variety of IDEAS on Tradingview - Psychology of Members who Post - Vetting Quality Content: Member Agendas, Bias & Ego, Reliability & Frequency SECTIONS 4 -7 - Trading Methods that Work, but OTHERS may NOT tell you - Methods that WORK in this 2018 Market & Reliability - Combining KNOWN methods - Testing NEW Ones - Deriving your Own Method SECTIONS 8-9 - Hate Comments = Trader Mind Poison/How to FLAG/Remove BAD comments - How to intelligently add conversation in IDEA rooms and GAIN reputation SECTION 1 - Finding Valuable 'IDEAS' on TRADING VIEW Tradingview uses a secret formula to determine the top publishers of the day, week, month It is based on categories, not just performance. Unfortunately, there is NO quality control with this method.. and even worse, the more someone is recognized as a top author, the more they cement their rating in the top publisher box. NOT saying there is a better way to do this. but as a new member, you need to know its shortcomings. To find a better sampling and some of the BEST work on Tradingview, can take more work. It requries random search; utilizing the less convenient tools on this site. The sidebar on the far right when you first log in will show TOP authors. Go beyond that, by searching the columns with the most CURRENT publications Explore new idea posts by unknowns; then follow the ones that interest you. As your follow list builds.. Warning: the limit is 30. Your favorites will DROP OFF if you are not careful Keep your follow list for the ones who matter most to you and cut loose the less valuable. Edit your email and notifications for what they publish. DO NOT overwhelm yourself (for example, I stopped email notifications and just read my sidebar) Suggestion for easier tracking of information: I actually make my browwer LOG into Tradingview four times whenever the browser loads. If you do NOT know how to do this, go to GOOGLE, name your brower... followed by HOW DO I... On my brower, each of the four log ins to Tradingview has a different customization. I switch between browser tabs to review each variation. Of second most importance is the RIGHT PANEL views of the different topics. This includes CRYPTO NEWS.. which is VERY important. If anyone tells you otherwise, they are dead WRONG. I make sure to visit four different pane categories several times a day. SETCION 2 - Vetting IDEA Publishers Regardles of popularity of a member, to find the best quality forecasts and advice, you must consider the mind state and health of the publisher Ego - do they rant: goes off the original topic before the conclusion is drawn clearly creates new thought tangents not relevant to the subject are their sentence structures hard to follow (almost non-sensical) are they
KRAKEN:ETHUSDEducation
by TradeClass
4
Fulfilling a promise to share my trading Part 1. (Education)This will be a relatively shorter post and is a follow up on Part 1 (phew.... Good for me and you LOL) So, i got this situation where there was a breakout on the 4 hour, mark with a dash line on the 1 hour. The first thing that came to my mind will be: A) I want to long B) I will not short even if there is a reversal (Unless 7700 is broken) C) Where will i long? What is my initial risk to reward? So, instead of chasing price action, i'd use a very simple method for a certain completion of the latest low. The key part to succeed here is you have to start watching the market and wait for a classical higher high higher low formation usually in the form of 2 candles. You might be asking "Don't you use some sort of indicator"? As a matter of fact, i rarely use it because i find it too troublesome. I'm watching a lot of markets and i'm not going to throw all my eggs in one trade. But if you want, i could use an ATR (for stop distance placement) or RSI (below 80 or above 20). That's it. So, after the formation of "higher high, higher low", my entry is 2 pips above its last high, and 3-5 pips below the swing low. Don't worry about it because my first target is usually conservative at 1:1 risk to reward and likely i'd take half or one third. No right or wrong but try to fix at predetermine amount to exit. The position size i take is never more then 2 percent of my equity but the actual size depend on the stop placement. Once this is achieved, i simply move my stop to break even and target 1:2 risk to reward. I may have exited fully or still have one third of position left. I'd simply trail it with swing highs and low. Remember the golden rule that stop can only move when it is meant to lock more profits then before. I felt this is a very simple way to trade and is easily executable by anyone although it does take a lot of practise to do so. Why rush anyway? Trading is a marathon and the longer you are in the race, the more you are likely to succeed! I hope this simple method helps you. Free free to drop me any questions i'd try to answer as much as possible!
AEducation
by trutt79
Fulfilling a promise to share my trading Part 1. (Education) Please ignore the previous post as I lost internet connection Dear all, as mentioned i not only want to share trading signals and ideals but more on my psychology. There are tons of signals and ideals just on this platform itself. I do not see I'm the best out there, nor am I not trying to be special or trying to sell something. I have always been wanting to contribute to the community and this is one of the best way to do it. The more I share, the more i learn as well. My view of a trading career is that it'd be one of the toughest endeavor you undertake in your life because you need to be constantly aware of your own emotions, keeping your actions in check and be patience. I mean, who can do this day to day? I can't for sure. There are countless days where emotions creep in and before I knew it, I did something totally contrary to my plan. My honest opinion is, I can never be perfect. What I do is to admit that and find ways to be better, but stop trying to be perfect because the market never is as well. HAHA. *** Please bear with my "English", I've a lot to improve on for myself on that. *** I'm breaking down this into a few series because it can be very dry to read all at one shot. OK, let me start by going back to the very beginning in which a 4 hour Bullish Bat is discovered. If I go to a larger time frame, we can see that A6 has been on an uptrend on a longer term basis when it broke 7700. Momentum was good. This move began on 13th July and lasted all the way to 27th. (The first part is dedicated to momentum and swing traders) It's always easy when we are conducting post mortem analysis on price action. Who can't see its an uptrend and we should go long? While that is true, there ain't much ways to learn besides that. I don't see much of a issue if, you already have a trade plan that encompass a entry, stop loss and viable risk to reward ratio. Such post mortem exercise are only useful if you do it in a meaningful way. So, with the beginning of the break on 7700, this instrument should already be on your radar. The first thing that comes into my mind is: 1) This breakout is confirmed as the close above 7700 is confirmed. You have to believe in it because you can't execute or take action if you don't. This is the point where previous false breakout creeps into your mind and says: "haha you are not going to fool me!". If you develop such habitual thinking, you are going to face a lot of execution problems and this is where many attempt to trade "tops" or reversals, in total contrary to a swing trade long. Trading requires a lot of muscle memory. To be successful trading momentum and swing, you must constantly cast away contradicting signals and focus on your predetermined swing or momentum quantifiers. Build it into your subconscious by practice. 2) Accept that the best plan will fail. Having said the first point, are we going to be stubborn and keep trading? The answer is no. You see, even the best get it wrong. So, I personally propose let the market decide on that. If you have a plan, you always have a stop loss. A stop loss is there to tell you to review your trade plan if you got stop out. By the way, if you have the habit of moving your stops, I'd suggest you practice to keep it. Personally, I only move stops when my trade becomes profitable. Once an entry is triggered, believe in your plan and let the market decide. 3) Do not be greedy. Again, I cannot emphasize enough on sticking to the plan. In the last 10 years, greed has been one of the emotions that affects my trades a lot. Who doesn't want a winner? Umpteen times with good profits I failed to capture and ended up being stop out. "Revenge" is sweet. The vicious cycle of doubling up, moving my stop loss began and by the time I realize it, I had a big loss. So, when you enter the market, a stop loss and profit targets is a must.
AEducation
by trutt79