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OBSERVING CRUDE OIL IN A 1 MINUTE PERSPECTIVE (Visual Only)Someone brought this to my attention in oil chat and decided to have a look myself and you really do get to see so many tradeable scalping opportunities. Never bothered to look at oil this way before, but this is very insightful to me, thought I ought to share. If you are a pattern trader, then you really ought to start analyzing market this way in my opinion. Highlight for this idea goes to @mikkel-j ... Now get pattern spotting guys. BELOW IS A TEST CHART IN 1 MIN TO FOLLOW AND SEE IF PATTERN PLAYS OUT.
FX:USOILEducation
by Dani0
A Renko Strategy for Trading - Part 8This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they assume all risks for their own positions and accounts. www.investopedia.com Chart setup : (Part 1) Double Exponential Moving Average (DEMA) 12 black line Double Exponential Moving Average (DEMA) 20 red line Parabolic SAR (PSAR) 0.09/0.09/.23 blue circles Simple Moving Average (SA) 20 blue line (Part 2) Stochastics 5, 3, 3 with boundaries 80/20 dark blue/light blue Stochastics 50, 3, 3 with boundaries 55/45 red Overlay these two on one indicator. Refer to 'Part 2' as to how to do this (Part 3) True Strength Indicator (TSI) 14/4/4 dark blue/ red Directional Movement Indicator DMI 14/14 ADX-dark green, +DI-dark blue, -DI-red Renko Chart Settings Crude Oil (TVC:USOil): renko/traditional/blksize .05/.10/.25 Natural Gas (ngas): renko/traditional/blksize .005/.010/.025 Soybeans/Wheat/Corn (soybnusd/wheatusd/cornusd): can use the ngas setup S&P 500 (spx500usd): renko/traditional/blksize 2.5/5.0/12.5 Euros (EURUSD): renko/traditional/blksize .0005/.0010/.0025
FX:NGASEducation
by mxb1961
A Renko Strategy for Trading - Part 7 Refactor/RefinementThis is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they assume all risks for their own positions and accounts. (Part 1) Double Exponential Moving Average (DEMA) 12 black line Double Exponential Moving Average (DEMA) 20 red line Parabolic SAR (PSAR) 0.09/0.09/.23 blue circles Simple Moving Average (SA) 20 blue line (Part 2) Stochastics 5, 3, 3 with boundaries 80/20 dark blue/light blue Stochastics 50, 3, 3 with boundaries 55/45 red Overlay these two on one indicator. Refer to 'Part 2' as to how to do this (Part 3) True Strength Indicator (TSI) 14/4/4 dark blue/ red Directional Movement Indicator DMI 14/14 ADX-dark green, +DI-dark blue, -DI-red
FX:USOILEducation
by mxb1961
A Renko Strategy for Trading - Part 5This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they assume all risks for their own positions and accounts. Chart setup: (Part 1) Double Exponential Moving Average (DEMA) 12 black line Double Exponential Moving Average (DEMA) 20 red line Parabolic SAR (PSAR) 0.09/0.09/.23 blue circles Simple Moving Average (SA) 20 blue line (Part 2) Stochastics 5, 3, 3 with boundaries 80/20 dark blue/light blue Stochastics 50, 3, 3 with boundaries 55/45 red Overlay these two on one indicator. Refer to 'Part 2' as to how to do this (Part 3) True Strength Indicator (TSI) 14/4/4 dark blue/ red Directional Movement Indicator DMI 14/14 ADX-dark green, +DI-dark blue, -DI-red
FX:USOILEducation
by mxb1961
Ben Wright's 3 Essential Trading Routines!! MUST SEE!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Below are 3 essential trading routines that i follow on a daily basis. This has been a critical component to my success. Morning Routine 1. Meditation (10 Mins) 2. Gratitude 3. Trading Affirmations (2 Mins) • I am a successful trader • I have a very strict risk management plan • I use a trading journal • I am unemotional about profits or losses • I am patient and let high probability trades present themselves to me • I am happy to take a profit and will not be greedy • I have an edge and I trade it effectively and decisively • Losses are a part of my trading • I am relaxed and confident about my trading at all times • I do whatever is necessary to win at trading • Discipline means I follow my trading rules and manage my risk • I am highly focused • I am in total control at all times with my trading • I am a master trader • I am not stressed about relying on trading money to provide for the family 4. Visualization (Goals & Perfect Trading Day) (10 Mins) 5. Priming – (30 – 60 Sec cold shower) Shocks your body system and activates endorphins 6. Motivation & Stretching (10 Mins) Pre-Trading Routine 1. 3 Deep breaths 2. Gratitude Night Routine 1. Read (30 Mins) 2. Affirmations (2 Mins) 3. Gratitude 4. Visualization (Goals & Perfect Trading Day) (10 Mins) Happy trading :) Follow your Trading plan, remained disciplined and keep learning !!
FX_IDC:USDWTIEducation
by SMPTrader
5
Technical Analysis 101!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Technical Analysis 101!! Interpreting the candlestick This type of chart is an extension of the bar chart as discussed and is actively utilised by the investors in China for more than 500 years of time period. It helps in providing the information regarding open, close, low and high in the dimensional format. It can be seen that the vertical axis of the chart helps in providing information on the prices of the FOREX whereas the horizontal axis represents the time period. The white candles are the representation of the advances of the currency and the black candles, on the other hand, represents the decline in the value of the FOREX. Moreover, the body denotes the thick portion of the candle, and the vertical line represents the wick. This chart helps the investor to forecast the future price movement of the FOREX. b) Charting systems In the mind of a few people, charts are the exemplary image of the trader’s speciality. The experienced eye can make ups and down. Charting is a questionable piece of the fund. Future research is probably going to reveal things about outlining that would amaze people today. All things considered, even individuals who eagerly restrict the training are ought to be acquainted with the essential techniques of charting. 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!
FX_IDC:USDWTIEducation
by SMPTrader
Creating your own Trading Strategy!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Creating your own Trading Strategy!! Below is a quick run down of things to think about when creating your own trading strategy 1. How much time during the day do you have to devote to trading? .................................................................................. 2. How much money do you need to live on each year and how much of that must come out of trading profits? ...................................................................................................................................... 3. How many distractions can you expect during the day/night? ..................................................................... 4. Specify the markets and times of the day you will trade? ......................................................................... 5. Do I want to trade multiple systems? ............................................... 6. Will you short sell? Or go long? ........................................ 7.Where will you place your Entry/Stop Loss and Target Line? ........................................................................... 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!
FX_IDC:USDWTIEducation
by SMPTrader
RV Simplifed - Krümel’s VoodooRV Simplified: I get this question all the time, and even though the concept is simple, many people have a hard time getting their heads around it. Here is snapshot of above at time of publish. Sept 19, 2018, 7:30am ET. As the above LIVE chart will not last more than a day.. accurately. ——————- Q- When DXY falls, WTI follows right? A- No.. they fall and rise at different rates, on some Timeframes they will be inverted (say 10min) while on 4hr they will both trend in same direction. I look at the value of oil in Dollar , as well as other currencies. But oil is priced in dollars.. so it will always gravitate to that level. This is based on the amount of volumes being traded in other currencies. (I believe) . Q- So having a weaker pound, yen and eur will equate to oil price going up as we get more dollars? right? A- Sure.. and vice verse.. Let’s say nobody trades oil for 1 hr. But during that time the Doller dropped by 10%! Those wanting to buy oil from you in EUR, would need to pay 10% more to keep you even, or you would need to sell at 10% loss. BUT -If I’m buying from you and in dollar. Price doesn’t change as we are both using dollars. - Extreme example. So the price of oil is based on what buyer is willing to pay.. if those in U.K. (above example) are willing to pay the 10%, but most of the buyers are in US. The price will only go up buy the amount of volume those U.K. buyers represent. Now do that for EUR, YEN, GBP, and Doller.. that’s RV! Lastly - I treat SPX like a currency (normalized to dollar) SPX is a great scale on daily movement. Not always coupled but use 2 day range to set scale. I think this has to do with the ETFs and truly they are the volume in PaperOil.
TVC:USOILEducation
by BigEz
1