Recently I have many newcomers/subscribers/followers on my various channels and platforms, so I want to make this video to summarize what exactly are my strategies and style in trading.
It's important to understand everyone trades differently, and different styles and strategies. What's more important is to understand if the strategies and style work for you and you only as a trader.
Does a typical style/strategy satisfy your vision in trading ? Does the risk/reward make sense to you as a trader ? Does the trading plan and management sound feasible and realistic to you ? Do you have the right mindset and emotion when it comes to trading these types of strategies and style ? These are the questions to think about when you are serious about trading.
So, let's take a look into how I trade and what are the key important aspects that I look for in trading.
-Price Action Analysis
-Impulse VS Correction
-Continuation VS Reversal Correction/Structure
-Multi time frame analysis (top down approach)
-Risk Management (3:1 RR)
-Trading Psychology (Mindset and emotion) (FOMO, Revenge Trading, Over Leverage Trading)
As always, any questions, comments or feedback welcome to let me know.
Great video.
As you just mentioned, Stop-Loss / Take Profit and Entry are three major steps to success.
My question is that are you setting your S.L based on how much profit potentially you can have or vise versa?
For example:
if you can take profit in 60 pips, do you force your S.L at 20 pips, regardless? there is a concern on stopping you out before goes to your direction. how do you manage that?
OR..
safe S.L is 40 pips and you force T.P to 120 pips, regardless?
Thank you,
jojofang0901
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@Ha-Lion, Good questions, SL is more important in my plan. So I want to make sure the SL has enough room for price to move, and then look for 3:1 RR. IF I can not get at least 3:1, then I may not consider an entry. thx
Ha-Lion
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@jojofang0901, Awesome. You just said what I was hoping to hear. lol Thank you,
Sorry, but i have one more question.
At the lower time frame, do you look into candle formation as the signal for entry? Morning Star, Evening Star, Hammer, Engulfing ...? What is your signal ?
I am seeing a lot of similarity between what you are doing and what my strategy is. Your answer would be confirmation to my strategy.
I truly appreciate it.
jojofang0901
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@Ha-Lion, Well candlesitcks formation is an "added confluence" but not a must. I still focus on the LTF price action, whether reversal or continuation to determine my setups. It would be nice the candles are also showing us bullish potential if the price action is bullish.
Mahtab_Tradia
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Thanks for making amazing videos! Appreciate your effort