dimes

Do the work to become a better insightful trader

BATS:ZNGA   ZYNGA INC
382 7 1
This chart is just an example of the work that needs to be done b4 a trade. I took a short position on GRPN             by buying a few put options, this chart should tell the story why... I Hope I help at least one person so they do not have to go through
the huge learning curve I did. Any comments or suggestions are highly appreciated.
Algokid PRO
4 years ago
Maybe I'm wrong, but I suppose you took the trade because GRPN started to under perform LKND. Kind of like relative strength investing, buy strong stocks, sell weakness.
Reply
dimes Algokid
4 years ago
absolutely correct, the same applies for the fx market as well all major risk currencies are correlated to the S&P if you are setting up a fx trade take a look at what the s&P is doing, if your idea of the currency price action is the same as the S&P and your technical analysis of trend is correct then the probability of your trade being a winner increase dramatically. If the S&P is telling one thing and your fx analysis another , take a step back until you see if they are diverging the market is letting you know something is up. If you use the S&P when it is tightly correlating find the risk currency that is best correlated, Sometimes one currency will be outperforming all the others and will enable you to increase your profit because the moves are greater on a percentage base and increased volatility is what your looking for when your on the right side of a trade. I hope this makes sense, I tend to ramble but if you need any examples let me know and I can Show you with the charts. First comes the inter market analysis, then pattern recognition, then money management. In that order
trade less and higher degree of being on the right side of the market.
Reply
ZhenweiZee dimes
4 years ago
learnt something today.
Reply
Algokid PRO ZhenweiZee
4 years ago
I did too..I like your style of trading.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out