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Simple Xtrade Trading Strategy for Gold with Risk ManagementThe Simple Xtrade Trading Strategy for Gold, meticulously crafted with a focus on precision and fortified by proper risk management practices. This strategy is tailored to navigate the complexities of the gold market with ease, offering traders a clear pathway to success. With an emphasis on simplicity, this strategy cuts through the noise of the trading landscape, providing a straightforward approach that ensures clarity of execution. By distilling the essential elements of trading gold into a concise framework, it empowers traders to make informed decisions with confidence. Central to the Simple Xtrade Trading Strategy is its unwavering commitment to risk management. Every aspect of the strategy is designed to safeguard capital and minimize exposure to potential losses. Through diligent risk assessment and strategic position sizing, traders can navigate the volatile nature of the gold market with poise and resilience. This strategy serves as a beacon of reliability in the tumultuous seas of trading, offering traders a dependable framework upon which to build their success. With its focus on simplicity, precision, and risk management, the Simple Xtrade Trading Strategy for Gold stands as a testament to the power of disciplined trading in achieving consistent profitability.
OANDA:XAUUSDEducation
by Simple_Xtrade
Simple Xtrade Buy/Sell Entry ConditionSell Entry Condition: 🔰 If the SELL (red arrow) signal is confirmed on the 30-minute timeframe and aligns with the resistance level, wait for the SELL (red arrow) signal on the 1-minute timeframe before executing your entry. Take profit (TP) is set at 50-100 pips, stop loss (SL) is set at 50 pips, and set break even (BE) at 30 pips. Buy Entry Condition: 🔰 If the BUY (green arrow) signal is confirmed on the 30-minute timeframe, and the signal aligns with the support level, wait for the BUY (green arrow) signal on the 1-minute timeframe before executing your entry. Take profit (TP) is set at 50-100 pips, stop loss (SL) is set at 50 pips, and set break even (BE) at 30 pips. 1-2 Trades Daily
EIGHTCAP:XAUUSDEducation
by Simple_Xtrade
Simple Xtrade Invalid/Valid Entry Points (GOLD)Invalid Entry Points (Gold): Random Price Spikes: Avoid entering trades based on sudden and random price spikes, especially without any significant fundamental or technical reasoning behind them. These spikes could be caused by temporary market noise and may lead to false signals. Ignoring Trend Direction: Entering trades against the prevailing trend without proper confirmation can lead to losses. Always consider the overall trend in Gold prices and look for entry points that align with the trend direction to increase the probability of success. Lack of Confirmation: Avoid entering trades solely based on a single indicator or signal. Without confirmation from multiple sources, the validity of the entry point is questionable. It's essential to wait for confirmation from various indicators or price action before making trading decisions. Emotional Trading: Trading based on emotions such as fear of missing out (FOMO) or greed can lead to impulsive decisions and invalid entry points. It's crucial to stick to a well-defined trading plan and avoid letting emotions dictate your trading strategy.
EIGHTCAP:XAUUSDEducation
by Simple_Xtrade
Simple management is easier on your mindhi, just wanted to share a couple of thought on management, mainly for new members. in my eyes, there are two categories of management: simple (fixed RR) and more complex (variations of trailing). Both have positive and negative sides. In my eyes, as a very very subjective opinion, simple fixed RR system will be better for most people. Or ok, I'll not speak for most, but for me definitely. Why so: incredible simplicity, cause you just need to test to see how much your trades usually run + create b.e. rule, and you're good to go 3-5RR are usually best for fixed RR systems do not underrestimate the energy that goes into making decisions while managing and waiting, watching for the trade to develop into higher RR's. With fixed you don't have this - you just go b.e. and then you can close the terminal, and go away if needed. However yes, advanced experienced consistent traders would trail almost with no extra emotions, cause it's usually more mechanical. With that said, for many relatevely new traders, trailing could be extra emotional. with fixed, you'll have less chances to become emotional, because of many reasons, for me personally fixed RR system gives a sense of accomplishment on every trade, while with managing I'm constantly thinking how can I manage longer better etc. So I'm rarely satisfied when I'm getting stopped out on trail, cause I'm still "stopped out", while on fixed I have a sense of good work done. I know it's weird, but it's personal experience I could continue, but I guess the general guideline is there. My main message is that TP can be a very simple fixed 3 or 4RR and that would be more than enough and easier for most people's mind have a good weekend.
BITSTAMP:BTCUSDEducation
by Yelli_trades
1
Ditch the stress! Bye-by losses! Range strategy to level up!Embark on a journey of transformation and mastery in the world of trading as I unveil the secrets behind my game-changing range trading strategy. Gone are the days of uncertainty and losses – with this strategy, I've not only closed the performance gap but soared to new heights of success. At the heart of my approach lies a meticulous process of identifying and understanding market ranges. It all starts with a keen eye for detail, pinpointing range highs and lows with precision. These anchor points serve as the foundation of my trading decisions, providing clarity amidst the chaos of market fluctuations. But it doesn't stop there. Within these ranges, I've learned to identify supply zones – key areas where the market is primed for a potential shift in direction. Armed with this knowledge, I position myself strategically, ready to capitalize on emerging opportunities. Yet, what truly sets my strategy apart is the integration of powerful indicators like the fixed range volume and Fibonacci indicator. These tools act as guiding lights, illuminating high-probability predictive areas within the range. With their aid, I can anticipate market movements with unprecedented accuracy, giving me the edge I need to succeed. But here's the real kicker – I've learned to leverage these insights to not only profit from market rallies but also from downturns. By adhering to the principle of longing in discount and shorting in premium, I've unlocked a whole new realm of profitability. It's a dynamic approach that allows me to thrive in any market environment, whether bullish or bearish. So, if you're tired of riding the rollercoaster of uncertainty and ready to take control of your trading destiny, it's time to embrace the power of range trading. Join me on this journey of discovery and mastery, and together, we'll conquer the markets like never before.
Education
by Trade-Journal
Mastering Trading with Support and Resistance LevelsTrading with support and resistance levels is a fundamental strategy that offers insights into market psychology and potential trade entry and exit points. This guide will explore how to effectively trade using these levels, highlighting the importance of confirmation, rejection patterns, candlestick patterns, and confluence with other indicators. Understanding Support and Resistance - Support : A price level where a downtrend may pause due to a concentration of demand. - Resistance : A price level where an uptrend can pause or reverse because of a concentration of selling interest. The Significance of Confirmation Confirmation is crucial when trading with support and resistance, as it ensures that the price respects these levels before making a trade. Waiting for confirmation reduces the risk of false signals. Candlestick Patterns: The Language of the Markets Understanding candlestick patterns is essential for interpreting market sentiment at support and resistance levels. Patterns like bullish engulfing or bearish engulfing suggest strong reversals. Finding Confluence with Other Indicators Confluence enhances the reliability of trading signals. Combining support and resistance analysis with other indicators like moving averages or the stochastic RSI can provide stronger entry or exit signals. Integrating Support and Resistance into Your Trading Identify key levels : Mark clear support and resistance levels on your chart. Wait for confirmation : Confirm the level is holding through candlestick patterns or price action before trading. Look for rejection patterns : Observe candlestick formations for reversal signals. Seek confluence : Use other indicators to validate your trading signals. Manage your risk : Always set a clear stop-loss order to manage potential losses. By employing these strategies, traders can enhance their market navigation skills, focusing on managing risk and seizing the right opportunities. With patience and practice, trading with support and resistance levels can be a vital part of a successful trading approach.
Education
by AlgoAlpha
🔜RULE FOLLOWING CHALLENGE, join to improve your trading 💪Did you know that most beginner traders can't follow their rules for 7 days in a row? Unfortunately, they start overtrading or changing the rules of the system, entering random trades, overrisk, etc. I've been there many many times myself, but then slowly started focusing on this part and made my first 7, then 10 days of rules following, broke with another tilt, started again, reached 17, 30 days, and failed again. Each time it became better and better, and now I'm on my way to 50 days of rule-following. I developed a routine and system that allows me to keep doing it, day after day. It includes mental technics, as well as simple EAs for Metatrader to help with over-risking and overtrading issues. If you want to step out of your comfort zone and improve your trading, join this 7-day rule-following challenge by leaving a comment below. It will be hosted here on TradingView, probably using the Stream feature, but I'll let you know later when we will gather up.
OANDA:XAUUSDEducation
by Yelli_trades
3
Predict the clarity of the price, not it's direction☝️The main purpose of my resources is free, actionable education for anyone who wants to learn trading and improve mental and technical trading skills. Learn from hundreds of videos and the real story of a particular trader, with all the mistakes and pain on the way to consistency. I'm always glad to discuss and answer questions. 🙌 ☝️ALL videos here are for sharing my experience purposes only, not financial advice, NOT A SIGNAL. YOUR TRADES ARE YOUR COMPLETE RESPONSIBILITY. Everything here should be treated as a simulated, educational environment.
CAPITALCOM:US100Education
by Yelli_trades
1
Three GOLDEN rules of tradingThree golden rules of trading 1. Learn when to stay out of the markets. This comes from the principle that it’s almost always good to do the contrary of what beginners do. Think for yourself, beginners tend to always search for an entry and predict any kind of price action, even the choppiest one. The truth is, sometimes markets are in condition when it’s just doesn’t make sense to trade and we need to wait. Some questions to ask ourselves: if I would enter 1000 trades like this, do I think it will be a consistent strategy? Do I really see a clear price action development now, or do I want to enter very early to not miss the initial move, which by the way will develop basically out of nowhere? It’s an illusion that we need to predict everything. We need to see clarity, not predict the chop. Realize, that what we often need to do in live markets is DO NOTHING. 2. Learn how to lose Most traders who are still learning, and after a loser, tend to become emotional (fearful, frustrated, angry etc.) and start to act based on emotions, not an actual plan they had. This can be conscious when you understand you’re making a mistakes, but emotional brain took over and you still overtrade, tilt or over risk. Or it could be unconscious when you believe you’re doing the right things. So how to do it? Be aware of your emotional triggers, have a mental journal and step by step learn to RESIST this desire to revenge and place another trade. It’s a long process, but with commitment, it’s possible to achieve. 3. Learn to actually follow the rules It’s a hard one to master. Beginners and even experienced trades tend to deviate from the rules of their strategy without proper testing. You constantly need to keep in mind that placing random trades will give you random results and it’s not sustainable long-term. The best way to do it is to start a rule-following challenge, when you tick day by day if you followed the rules. Most people didn’t follow their trading rules even for 5 days in a row! Just think about it.
OANDA:XAUUSDEducation
by Yelli_trades
1
📖Ultimate guide to feeling a little bit better after a loser.1The video is long, feel free to use speed settings :) Thanks for your interest in the last post about the Major mistakes traders do. Now let's talk about coping emotionally with losers. This is Part 1. 📖We all know this feeling, it feels awful, hopeless like something very valuable has been taken from us, like it destroys our work and plans and it feels BAD. Who am I to speak on this topic. 4 year of trading experience, lost maybe 25 funding challenges over the course of 3 years, got 2 times funded the previous year and lost these funded accounts. Had multiple losers, out of which many just stamped me emotionally. Over time I developed coping skills to better prepare for these -1’s and though I’m far from being really good at it, I’m definitely a bit better than I was some time before. And this is my ultimate guide to feeling a little bit better after a -1. 📖First of all, congrats - if you’re still here, it means you’re interested in the topic and by watching videos like these from me or other traders, and thinking, and trying to become better, you’ll do it eventually. Yes, with time you better find one source of education that really sticks to you, and for me, it’s the method.. but even other videos can build some foundation for your work in this direction. 📖As pointed out in the Mental Game of Trading, Our brain functions in 3 layers, so to say - automated habits, emotional brain, and rational. The thing is, emotions can really block rational thinking. It’s physical and happens in your brain. It literally changes our chemistry. Accept the fact we can't accept losers fully. It will always feel shite, but with time and a good strategy of preparation, it will get better. So this is a Stoic principle applied to trading, be prepared for the worst-case scenario, how? Expect it to happen, and know it’s inevitable and you’ll feel bad. Paradoxically, it allows you to feel a little bit better when it actually happens. 📖Notes and full diary, you want to know all about how you behave in the markets so that you recognize the build-up of emotions and can prepare better for the next inevitable loser, and in case you understand you need to stop because you’ll become too emotional - than you’ll be able to stop. How diaries work is that you know all your triggers, and patterns, in a way that nothing is new to you about how you feel about the market and how you react to certain situations. 📖Appreciate yourself and your work! gratitude - videos, practice, mooji. appreciate the work you did, especially if the loss comes out from a high-quality setup. Many people turn too much attentions to their flaws while forgetting recognizing their powerful sides. What’s your super power - holding to TP, sticking to max trades per day, not overrisking, really going through the checklist. 📖Awareness doesn’t equal control. You can control things only to some extent, but when emotions really kick in, it’s too late. That’s why people very often say: I understand everything, but I can’t stop. Yes, my friend this is how emotional brain works - it leaves with no control over the actions. Awareness doesn’t equal control. If you feel bad, you need to STOP, because in that state losers will feel especially bad. 📖Trade less, a lot less. Good traders and my experience. 📖Record a trade as a -1 in a journal once you started it - Ment’s video.
Education
by Yelli_trades
2
The Most Important Chart For 2024For me it's important to keep a macro picture in mind to set the context around my trading. What is going to drive everything this year is what happens to the USD. Will the FOMC cut rates? Is the economy as strong as it seems? Are things shaky under the surface? No matter what happens in the US economy, it'll be caught by this chart. You could use the dollar index futures but it's not perfect and lacks a lot of liquidity. In general most "USD baskets" have EUR as the largest holding, which makes this pair a good inverted proxy. We can see the MarketWebs are showing bullish 80% rules not only for the year but also for the month. The 80% rule means that there is an 80% chance that price will move from one side of value to the other. It's likely that January will end before its 80% rule plays out, but we are more firmly into the 80% rule for 2024 and many months still to go!
Education
by WebBegole
☝️3 Main enemies of a trader and how to deal with them☝️☝️Dear traders, no one here has superpowers, and I'm just a human after all. Please take everything with a grain of salt. I'm sharing my view and one of the possible scenarios of price action, but mostly - my direct experience. When I enter I try to predict as little as possible and actually follow what the market is doing, joining the market and not arguing with it or forcing my will. Have good trading, keep a constant flow of self-awareness, and do your best. 🙌
CAPITALCOM:US100Education
by Yelli_trades
1
Use modern tools to automate your trading.My partner @Mayfair_Ventures and I like innovation, but we have been sceptical of bot-driven trading. This if for one simple reason. If it was available and consistently profitable, then someone would be doing it, then others would find out, then everyone would be doing it. No one would need a job. If you know about chaos theory, then you'll recognise trading as one example of where it fits. Chaotic things are inherently extremely hard to predict, as a rule. The best we can do is predict small amounts, like what the weather may do this afternoon. What it's going to do in 5 days' time is exponentially harder. Let's stick to the "we can predict this afternoon" model. At this level I think bots can be useful, and recently we've been looking at short-term trading on the 1 minute time-frame (Even though we don't recommend it) because people always ask us about it. There are a couple of streams here.. www.tradingview.com www.tradingview.com Now to automation. We started to mess around with @TradingView indicators and web hooks first. Web hooks allow you to propagate alerts from TradingView to an outside platform, like your phone, or email, whatever. Best of all, you can do it from your custom indicators as well. Then we thought: "how about just letting our indicator do the trade, so we can carry on with our round of golf"? As long as the timing is right, in other words, if we were at the screen we would take the trade, this makes sense. We can make our indicator only send signals at certain times of day, or whatever other thing we can think of. There are a few programs that will do this. I had a look at one from 3Commas. Others exist but I haven't looked at them yet. It takes the signal just like your phone does. You need to add your exchange (I use Binance) to it. I write 2 bots using simple templates they supply. One to go long, one to exit the long. You don't need an stop loss because it knows your max risk and does it for you. I set alerts based on my indicator (yes you have to get ChatGPT to make an indicator for you or write one!), not a price, so when my indicator is hit, the alerts fire and whichever bot is connected to the alert bot does a trade. That's it. I am playing about with it on a demo account first, because I am not an idiot. Yes it's true, ChatGPT can write Pinescript. It gets it wrong sometimes, but just tell it and it tries to fix it.
COINBASE:BTCUSDEducation
by Paul_Varcoe
1
Trading Hacks - Deep AnalysisSorry for sound quality, better quality on yt ☝️Dear traders, no one here has superpowers, and I'm just a human after all. Please take everything with a grain of salt. I'm sharing my view and one of the possible scenarios of price action, but mostly - my direct experience. When I enter I try to predict as little as possible and actually follow what the market is doing, joining the market and not arguing with it or forcing my will. Have good trading, keep a constant flow of self-awareness, and do your best. 🙌
CAPITALCOM:US100Education
by Yelli_trades
2
A guide to Profitable Scalping (why waste a price action)In the world of trading, many participants find themselves constantly waiting for the perfect confirmation for swing positions or entries, often missing out on the rapid movements that characterize financial markets. This is where the art of scalping comes into play, a strategy vastly different from swing trading, yet equally, if not more, compelling for those who master it because it offers way more opportunities to make money. In this blog post, I'll guide you through the essentials of becoming an effective scalper, focusing on market structure theory, the significance of Break of Structure (BOS), and the nuances that set scalping apart from swing trading. Understanding Market Structure Theory To excel in scalping, one must first be well-versed in market structure theory. This theory is the backbone of understanding how markets move and why they behave in certain patterns. It involves analyzing price highs and lows, trends, and ranges to predict future price movements. For a comprehensive understanding of market structure theory, this resource offers an in-depth explanation, it's not complete, but the best one freely available so I suggest you understand the content properly. www.youtube.com The Role of Break of Structure (BOS) A critical concept in scalping is the Break of Structure (BOS). When we observe a confirmed BOS to the upside or downside, it indicates a significant shift in market sentiment. The order block that caused this break becomes a focal point of interest. This is because, in the realm of scalping, these points often act as magnets for price, offering high-probability entry points. Capitalizing on Order Blocks Once a BOS is identified, scalpers must pay close attention to the order block that instigated this shift. When the price returns to this order block, a reaction is typically expected. This reaction is the bread and butter of scalping. Unlike swing traders who seek to capture larger market moves over extended periods, scalpers thrive in these quick, precise moments. Scalping vs. Swing Trading: A Different Focus The primary difference between scalping and swing trading lies in their respective focuses and timeframes. Swing trading involves holding positions for several days to weeks, aiming to profit from substantial price moves. Traders in this domain often focus on potential targets for a trade, analyzing broader market trends and economic factors. Conversely, scalping is a short-term strategy where trades last from a few minutes to hours. The focus here is not on the potential extent of a price move but, on the risk, -to-reward ratio. Scalpers typically aim for a 1 to 3 risk-reward ratio, meaning they risk one unit to gain three. This approach requires quick decision-making so it's much more involved than swing trading. Before we go on to see some examples following are the key things to remember to be effective in scalping To be an effective scalper, you need to: 1. Develop a proper Understanding of Market Structure 2. Identify High-Probability Order Blocks 3. Master Risk Management: Given the high-speed nature of scalping, managing risk is paramount. This involves setting strict stop-loss orders and having a clear risk-to-reward ratio for each trade. 4. Stay Disciplined and Agile: Scalping requires discipline to follow your trading plan and agility to adapt quickly to changing market conditions. Examples: Scalable OBs with results. This happened today: on SPX and NAS100 NAS100: SPX: How to pick an order block to trade for scalping: Entry for Scalping should be between 0.25 to 0.5 level inside the Order Block, you can use FIB tool to get these levels, this is highlighted in the Images above. 1. Do not go above 4h TF for this strategy. 2. Make sure Order block is caused a BOS 3. Notice the time frame of BOS, Pick the Order block in relation to the BOS timeframe. 4. Makes sure Prior to BOS the Order block resulted in FVG 5. Make sure the Order Block is not too big as it will result in greater risk, which I do not prefer. 6. If price does not hit your entry do not chase price, move on to next one. I want to emphasize here again , the goal of scalping is to capture the small move , not the whole move , so your focus should be one getting 2X or max 3X of your trade once , you do you get out and move on to next one , the good thing about this strategy is you can always find multiple assets where BOS is happening on anywhere from 1h to 4H TF. Finally, nothing in the world of trading is 100% so it's possible this may not work sometimes, which you should be okay with as long as it works more than 50% of the time. I n my experience it works more than 80% of the time. Conclusion Scalping is a dynamic and potentially lucrative trading strategy that requires a unique skill set, distinct from swing trading. By understanding market structure theory, focusing on order blocks following a BOS, and maintaining a disciplined approach to risk management, traders can exploit the rapid movements of the market for steady income. Remember, the key to successful scalping lies in quick, informed decisions and an unwavering commitment to your strategy. Like and Leave comment to this post to seek further clarifications if needed. Happy trading!
Education
by zakoraio