Grinding your way to Day Trading profitsHey all!
We hope your trading day has been successful in either learning or earning!
This quick daily primer video explains a little the way we trade, bascially being reactive to the charts!
Too tired to type more right now, but hope this video helps you learn something new!
Tradingstrategy
Defined Entry & Exit Points Using MACD, W%R and 3EMA's
Easily define entry and exit points by using a simple crossover strategy using the indicators above. This
strategy is based on trend and momentum price movements. This strategy is described below.
Strategy: Defining Entry Points
Timeframe: 5 / 15 / 30 minutes
MACD - When the MACD line crosses above the Signal line, a upward trend may be occurring.
W%R - When the W%R line moves upward toward 0 and crosses the -50 line, an upward trend may be occurring.
3EMA - When the 20 MA cross above the 60 MA line, and both are above the 100 MA, an upward trend may be occurring.
When all three of these happen simultaneously, there is a 99% change that an upward trend is occurring. Your entry point should
be at a price point three to six cents ABOVE the 3EMA, MACD & W$R cross over line. Entering your position a few cents above the crossover line
reinforces that your entry is being done in an upward price movement instead of getting stuck in a sideways or downward price movement.
To Exit, simply use the reverse strategy of the Entry.
MACD - When the MACD line crosses below the Signal line, a downward trend may be occurring
W%R - When the W%R line moves downward toward - 100 and cross the -50 line, a downward trend may be occurring
3EMA - When the 20 MA crosses below the 60 MA line, and both are below the 100 MA line, a downward trend may be occurring.
Learn the Range Trader Strategy | Part 1 - The LevelsIn this lesson, I discuss the important levels to know for the Range Trader Futures Trading Strategy.
The indicators on the chart that produce these levels and values are the following:
1) The "T-Line" is a 233 period Exponential Moving Average (EMA) | Built-ins >> Indicators
2) The prior session highs and lows are plotted using the 4C Yest HLC/O indicator | Community Scripts >> Search for the script name
3) The overnight or Globex highs and lows are plotted using the High/Low Of Custom Session indicator | Community Scripts >> Search for the script name
4) Volume Point of Control (VPOC) is calculated with a Session Volume HD script | Built-ins > Volume Profile (These scripts require a paid TradingView plan)
Now for the levels ...
Identify the prior session high and low.
Identify the overnight high and low.
Identify the prior session VPOC.
(Current session VPOC is noted only if the overnight range exceeds 50% ATR prior to the U.S. stock market open).
Identify if price is above or below the T-Line (233 EMA), indicating a bull/bear continuation or bull/bear neutral pattern.
Identify the 7-day Average True Range (ATR) for the instrument/product you are trading.
Follow Me here on TradingView to be alerted to the next videos in the series that go into set-ups, signals, and entries for the Range Trader based on these levels.
HOW-TO: NZDCHF Full Trade Analysis & Strategy ApproachFor those of you trading NZDCHF, do you also get “confirmation” from higher time frames when deciding to go short or long?
Yes, that is one of the things I factor into my NZDCHF analysis - and so should you.
“Higher Time Frames” reveals how the price of a currency pair ( NZD CHF in this case ) fluctuates from within an hour or up to a day - providing you with additional data for your NZDCHF technical analysis - and time to plan your best course of action.
The result - you will never be trading NZDCHF today, tomorrow, next week blind - ever again!
By watching my trading NZDCHF video breakdown, I hope that it will not only help you create a more accurate NZD CHF market analysis - but learn to integrate time frames as part of your forex trading strategy: and analysis in general.
Watch my NZDCHF market analysis trading video right to the end, and leave a message if there’s anything you want to ask about the trade or my trading process.
Go watch how I did it, so you can replicate it!
NZDCHF long moving ↗️👍We are using our POW reversal strategy for this trade a NZDCHF long.
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 blue arrow is entry point and purple line is stop loss.
You might be wondering what the shaded out areas are on the chart.
The reversal strategy in use can be set to trade during specific time periods.
That way we can make the strategy for each individual pair and instrument unique.
We can set the strategy according to best optimised way to trade said instrument.
How do we know that is then the best way to trade the pair in this manner?
The report box at foot of this trade idea shows built in strategy tester results.
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.
As you will see for this pair the way the script has been set shows data from 113 trades.
Risk 2% a trade has us at 80% gains an account draw down of 8% and a winning percentage of 62%
Lets see how this trade adds to those stats.
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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.
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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
DOA trading Strategy - ETHUSD#ETHUSD - Green DOA sniper and meter are still holding on Daily chart.
Looks like we have a Cup and handle forming on 4hr time frame
I entered on 15 mins DOA green sniper and meter
As long as we're holding above the DOA confluence and HL
we should see it break the cup resistance and test the ATH
DOA trading Strategy - ETHUSD#ETHUSD - Green DOA sniper and meter already are still holding at Daily chart.
Looks like we have a Cup and handle forming on 4hr time frame
I entered on 15 mins DOA green sniper and meter
As long as we're holding above the DOA confluence and HL
we should see it break the cup resistance and test the ATH
Perfect Entry Strategy - Bullish Engulfing in Key LevelsHello everyone, you are here to read about one of my best crypto-tested entry strategies, Bullish Engulfing in Key Levels . It’s a price action strategy and I’m going to explain its details but, even if you are not good at price action stuff, you could use it as well as I can. There are no requirements for dealing with this strategy except using two indicators.
The base success rate of this strategy was over 60% for me and by applying some filters and considering some best practices and being experienced in it, I could increase its success rate up to 76%.
This strategy is a combination of a Bullish engulfing candlestick pattern, pivot points, and key levels. By key level, I mean a trend line or a horizontal resistance/support line drawn by you or your added indicator. We can assume the base requirement of the strategy meet if a Bullish Engulfing (BE) pattern takes place near a key level or a pivot point.
We will use the Trend Key Point indicator to draw horizontal key levels and key points. It marks pivot points with a sign above and below the candles. If the pivot point is important, the indicator will draw a horizontal line as a key level. In this strategy the LL pivots are important to us. All necessary details will be applied to your chart by adding the indicator to it. You can also read more about Trend Key Point guide and best practices here .
There is also an indicator for finding and highlighting Bullish Engulfing patterns called Common Candlestick Patterns . By adding the indicator, you will see too many highlighted patterns because there are active by default. Therefore, after adding the indicator to your chart, you need to open its options and uncheck all except the Show Bullish Engulfing one to highlight just Bullish Engulfing patterns.
After adding indicators, you need to wait and capture entry points in a suitable state. But there are some tips and best practices we need to jot down to distinguish between good and bad states and increase the success rate of the strategy. I list below:
Ignore a BE pattern that does not occur at a key level or is far from key levels.
It’s a good sign if the BE pattern occurs on an LL pivot point (a candle that has a star under it) which meets a key level.
BE pattern must have an acceptable and strong body. You can ignore weak candles.
Ignore the BE pattern formed just below a resistance or potential reversal area.
It excites me to see a BE pattern at the lower point of the price but a BE at the end of correction sounds good too.
If the BE pattern occurs on the LL pivot seeing a key level and the volume also confirms that by crossing the VMA20 (volume moving average length 20), you can enter definitively.
If the entry requirements are met, the closing price of the BE pattern will be my entry point.
Do not enter if the green candle of the BE pattern is abnormally big. You can wait for a pullback or you can ignore the pattern.
BE pattern in the bottom of a range box could also be a good chance to enter but you have to be careful where the range is.
As you read before, this article is about finding the entry point and after clarifying that it's time to find out where you need to put your stop loss and your take profit but, these topics not fit in this article. You can refer to the other available resources covering these topics.
Both of the indicators mentioned are developed by myself, so I tried to apply my best practices to them. I hope it was useful for you. Feel free to submit your comment to improve the strategy or the indicators.
SPX500: my multi-time frame analysisHi Traders,
This is my view on this pair for the next days on #SPX500
I remind you that this is only a forecast based on what current data are.
Therefore the following signal will be activated only if specific rules are strictly respected.
If you follow my strategy you will be able to identify the right filters and triggers to enter correctly the market and avoid fake signals.
I really hope you liked this video and I would like to know what do you think about this analysis, so please use the comment section below this video to give me your point of view.
Thank You
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Pit from Trading Kitchen
Without this, you will not become a profitable trader
Yes, this is risk management.
Without proper risk management, your trading strategy based on levels, indicators, patterns, etc.will not make any sense.
Any trading strategy should be supported by strict risk management, where the maximum allowable losses per transaction and the risk ratio are observed:the profit is always more than 1/2.
You don't have to be right in every trade. It's just that your profit in successful transactions should be greater than the losses in unprofitable transactions. This correct use of risk management will lead you to success.
____________
The example shows one of the real scenarios of any trading system where the rules of risk management are observed:
Deposit of 10,000$
The risk per transaction is -1% (or -100$)
Total trades:
4 profitable trades = +14%
10 losing trades = -10%
Total: +4% (or + 400$)
Even though only 30% of the total number of profitable transactions, we still have a profitable result.
Learn risk management and become a consistently profitable trader.
❤️ Please, support our work with like & comment! ❤️
8 TRADING HABITS OF SUCCESSFUL TRADERS👩💻👨💻
Hey traders,
Consistently profitable traders have a lot of things in common. Watching how they act and following their ideas & thoughts we can spot a lot of commonalities among them.
In this article, I have collected 8 trading habits that a trader should have to become successful.
1️⃣ - Continuous Learning 📚
The markets are infinitely deep in their nature.
Trading & constant monitoring of the market always unveil new, uncharted elements and things.
With 8 years of day trading, I can't help wondering how many new things I learn each and every day.
With continuous learning you evolve, you become better and it improves your trading performance & results.
2️⃣- Emotional Stability 🙏
The market is a wild beast who always wants to bite us.
And most of the time it manages to do that:
drawdowns, losing streaks...
Those who trade for at least 1 year know how unpredictable and unstable the market is.
A perfectly looking trading setup can easily turn into a big losing trade.
Of course, that is painful, of course with more and more losers, the anxiety will pursue us, the stress will overwhelm us.
Only by remaining stable and calm, you will manage to overcome the negative periods.
Learn to control your emotions, learn to take losses!
3️⃣ - Constant Practice 💪
Pro traders never stop, they always watch the charts, they always monitor the prices, and follow the market.
Trading requires constant TRADING.
Just spending one single week on a vacation without charts, you can not imagine how hard it is to return back.
The trading skills must be constantly maintained.
4️⃣ - Trade Journaling 📝
Pro traders always assess their past performance & results.
They track each and every trading position that they opened.
Both losing trades and winning trades require analysis and observations.
Only by studying the past results the trader can improve his trading performance and evolve. Only by identifying mistakes & peculiar commonalities, the trader learns to lose less than he makes.
5️⃣ - Anticipation of Different Outcomes 👁
Everything can happen in financial markets.
Pro trader always reasons in probabilities.
He knows that 100% chances do not exist.
Accepting the probabilities the trader (even while opening the trade) is always ready for completely different outcomes and accepts each and every move of the market.
6️⃣ - Flexibility & Adaptivity 🕺
The markets are always changing.
If you were trading before COVID crisis, I guess you feel how the reality among us shifted. With fundamental changes in our daily lives, the markets changed as well.
It is hard to say what exactly has altered though, however, we all can feel it.
In order to survive in a constantly changing environment, one should adapt. One should look for ways to be one step ahead.
To beat an evolving market, the traders should constantly polish their trading strategies, drop the things that don't work anymore, and adopt the new, reliable ones.
That is the only way to stay afloat.
7️⃣ - Selection of Right Markets 📈
The trader always knows what to trade and he always has a reason.
He admits that some financial instruments are appropriate for his trading style while some are completely not.
Pro trader does not wander around aimlessly from one market to another. He has a plan to follow and rules to rely on.
8️⃣ - Realistic Expectations ⭐️
Many newbie traders drop trading just because of wrong expectations.
The desire to get rich quick, to catch 20/1 risk to reward trades without substantial losses is playing a dirty trick with them.
The true trader is not greedy, in contrast, he is humble and the only thing that he wants is simply to win more than he loses and make that amount sufficient enough to have a good living.
Adapting these 8 habits, you will see dramatic improvements in your trading.
And even though most of them require a substantial effort and many years of practicing, trust me, it is worth it and it will help you in your daily life as well.
Would you add some other habits to this list?🤓
Let me know in a comment section.
❤️Please, support this idea with a like and share your feedback in a comment section!❤️