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EURUSD Short at supply areaOn the EURUSD we are currently bouncing between the two red 4hr supply and demand areas. As we are currently in a downtrend and in neither an oversold or overbought area, we have a short bias. On the 4hr we are moving into a supply area (yellow) which we didn't trade last week due to the entry being triggered pretty late on friday. This luckily gave us a better entry point and so we are entering now instead. Hopefully we can get a small bounce for a 1:1 Risk:Reward, as indicated on the chart. Remember to trade with the probabilities. No single trade determines our performance, we will all have a loser once in a while. Take care, TheSupportResistanceTrader
Short
by TheSupportResistanceTrader
USDCHF long at demand areaUSDCHF is moving up between higher timeframe supply and demand zones, far from overbought levels. It is also in a 4hr uptrend which leaves us with a bullish bias. We are currently moving out of a 4hr demand area which has previously shown big strength, breaking the top on 9/5-2018. Due to the new week, I wanted to wait for a couple of hours for the market to stabilize before trading. I think the market is now fairly stable and so I go long from the current price. Hopefully we can get a quick upmove for a 1:1 Risk:Reward, as indicated on the chart. Remember to trade with the probabilities. No single trade determines our performance, we will all have a loser once in a while. Take care, TheSupportResistanceTrader
Long
by TheSupportResistanceTrader
STOCK TRADES MAY 15TH ARE YOU SCARED OF TRADING REVERSALS?Ever wanted to know how to trade market tops and bottoms? If so drop a comment below. Meoh Short Trade- Stop 71.30 Entry 68.55 Target 1 63.05 2:1 Target 2 60.3 Target 3 optional trail Short setup is forming as market retest range highs www.tradingview.com NBIX- ENTRY 90.92 SL 95.01 T1 86.92 rr 2:1 T2 77.01 rr3:4 Short setup is forming as market retest range highs www.tradingview.com TROW ENTRY ON OPEN 117.30 STOP 120.30 TARGET 114.30 rr 2:1 TARGET 2 106.30 rr 3.66 short setup is forming as market retest range highs www.tradingview.com
NASDAQ:TROW
by nastrades21
Are you trading or gambling?Tradingview has opened up a brilliant section on ' Beyond Technical Analysis ', where there is much room for development. I have a very big interest in trading psychology as I've come to realise that success in trading is determined by roughly 80% psychological self-management (and its many components). I've been exploring this topic elsewhere (link later). But for now let's just think about some of this stuff. At the outset I wish to say that I claim no 'guru' status. I do not do trainings or tips. I never - will never - offer anything to others for my personal financial gain. An exploration of the similarities and differences between trading and gambling is very important. Many a new trader will not realise that they could be gambling instead of trading. I see the two as different, though I am aware that a majority of people may see them as one and the same. This topic is of the utmost importance. You're in a game where the odds are naturally stacked against you . The markets of any type are chaotic environments that present patterns of various kinds which may be better seen by tools in technical analysis. A new trader could learn the mountain of tricks in technical analysis and still fail miserably. How? Because individual psychology is the big issue. Mark Douglas's book Trading in the Zone is for me the ultimate Bible about Trading Psychology and more. I say no trader should be trading at all if they haven't read it. How does gambling come into this? Well, the human being is naturally driven by reward. A few big wins in a trading environment is highly rewarding. This can lure new traders especially, into taking more and more (or greater) chances or risks without the structure of a working trading strategy that is tried and tested. This is the same scenario essentially with people who visit casinos . In essence the punter knows in his own mind that doubling his bets and holding out is likely to bring a big win or win back losses. Reality is a different thing, and it is often times painful for those who engage in that sort of activity. Taking chances or risks is not gambling. Seasoned traders will know that one has to be prepared to lose, in taking a risk or a chance. We all take risks from time to time in crossing a busy street but we are normally aware of what factors we need to control. Controlling the size of a loss in trading is the very difficult issue that is affected by 'individual psychology'. How do we really know how to control the chance and risk in those scenarios? There are approximately 300 biases that affect the human mind, and another 300 or so logical errors in the mind - the majority of those control our logic quite imperceptibly. The permutations of the latter are extremely large numbers. Add emotional factors to the equation and some will better appreciate how decision-making on risk can be affected. Reward drives emotions and emotions influence thinking (decision-making). Gambling is an activity which I see as (normally) driven mostly by emotions. For example that hunch that 'you're gonna win' the next time around. There are so-called 'expert gamblers' who make millions at casinos. These are exceptional people - but they weren't born that way. When you look at what they do, they aren't gambling even when they are in the casino (a place that is defined for gambling). They have a system, a process, they avoid emotional influences and they are highly controlled in their responses . Many of them are not even concerned with winning or their losses. This is much the same sort of mindset I pick up from a few truly successful traders. This is what true traders must achieve to avoid gambling. Supplemental: What is gambling? - Managers of chaos - Luck & chance
Education
by Captain_Walker
CUR; A risky but potentially lucrative investmentIf I decide to reduce shares in either of my holdings (FB, PYPL), CUR would be a small bet I would be willing to take. It recently shedded about half it's value since the huge spike up. It seems to have finally found bottom. I have support and resistance lines drawn in, if I end up investing, I would set a stop just below the support, and play the sell out (limit) by ear, rather than setting one. Perhaps they will have another breakthrough soon with trials or something. Who knows though, it's a risky sector/stock. Lemme know your ideas below, this is my first time posting about a penny stock. -Kristian
CLong
by KristianB12