Creating A Trading Plan and Executing A Trade
As with all great trades, we require a trading plan. This is a perfect example of how to analyse, execute and manage your trade. See linked chart for the initial trade idea.
See below for a step by step guide on how we entered this trade and what we looked for.
Goodluck and trade safe!
Mar 26
Comment: First step:...
10 chart patterns every trader needs to know
10 chart patterns every trader needs to know!
- Best chart patterns
1. Head and shoulders
2. Double top
3. Double bottom
4. Rounding bottom
5. Cup and handle
6. Wedges
7. Pennant or flags
8. Ascending triangle
9. Descending triangle
10. Symmetrical triangle
The importance of people in the right state of mind before you even open your charts is heavily underplayed in trading. Here are my trading objectives and Declamations I read or listen to before every trading session, I also keep a journal that I review on a weekly basis to see if I defer from my objectives and goals.
Try it you would be surprised.
Do me a...
This picture is of vital importance.
It's something that you simply have to try to recognise when trading, whether you're multi asset, trading only crypto, FX, equities - it simply doesn't matter, since sentiment is indiscriminate and uncaring as to your asset class.
In each section, we've got what is occurring at each stage.
1) Risk off.
2) The start of the...
Let's look at some key levels to identify before each trading session, especially when trading around the clock markets like futures.
Before the cash session bell, what are the prices for the following levels?
Prior Session High/Low
Overnight High/Low
Developing Value Area High/Low
And then, at 8:30a ET, is price above or below the prior session high or low? ...
In one of my previous publications I stated that the majority of new traders fail in the first 90 days of their trading "career". I also mentioned that one of the reasons for it was the lack of a trading plan.
So what is a trading plan and why do you need one?
Rather than explaining, I decided to give you an example. Below is an elaborate example of a trading...
As you likely already know by now, we’ve partnered with top athletes in the fields of climbing, skiing and adventuring to highlight our mantra of Look first / Then leap . One of our brand ambassadors is the freeskier, Caite Zeliff.
An only child to a single mom, Caite found skiing a little later than most – through a school program. But what she lacked in...
In order to make it on green in the trading area, you need a lot of skills or a mind "all over the place". You will need to analyze a lot of data like profit, earnings, market share, and competition in order to see how the stock will go.
Numbers are an important part of the game.
However, an even bigger part of the game is the "emotional" part, or how you handle...
The most successful traders I know always follow these 4 reflective steps, maybe not in the exact manner I've laid it out but they are perpetually reflecting on how these 4 factors are affecting their profitability. I promise you when you do too, your trading will largely improve.
MARKET
I see a lot of people that come to me for help, struggle with the...
At the end of a trend, there is a typically a reversal pattern indicating to us that the trend is about to reverse. There are 3 main patterns that you NEED to know.
1. Double Top/Double Bottom
A double top/bottom pattern is a chart pattern that consists of 2 consecutive peaks of similar height indicating that there is not enough buying/selling pressure to...
At the end of a trend, there is a typically a reversal pattern indicating to us that the trend is about to reverse. There are 3 main patterns that you NEED to know.
1. Double Top/Double Bottom
A double top/bottom pattern is a chart pattern that consists of 2 consecutive peaks of similar height indicating that there is not enough buying/selling pressure to...
The candlestick chart patterns are used by traders to set up their trades, and predicting the future direction of the price movements. There are many candlestick chart patterns. I will be discussing a few of those.
✅ Morning Star is formed after a downtrend indicating a bullish reversal. Generally made of 3 candlesticks, first being a bearish candle, second a...
Candlesticks are a way to express visually the size of the price movement.
There are different colors used for the candlesticks, but in pairs of 2: one color for an uptrend (usually marked in green) and one for a downtrend (usually marked in red).
Candlesticks are placed in graphics and by their movements create patterns. Starting from those patterns traders...
