Spread triple top and BottomThe normal triple top has no gaps between
the tops. The same philosophy applies in this pattern as in the triple top. In
each case, the stock rises to a certain price level and is repelled two times.
The third attempt at that price is successful by the stock’s moving through
the level shown by a column of X’s exceeding the point of resistance. since
the stock was repelled twice at that same level, there are apparently sell
orders there. The reason is not important. What is important is that there
are sellers at that particular level. The only way to know if demand can
overtake the selling pressure is to see how the stock negotiates the level
again. simply stated, if the stock is repelled again at this level of resistance,
the sellers are still there. You need not know any more. If the stock exceeds
that level, then demand has overcome the supply that previously caused it
to reverse. This is why we always wait for a particular level to be exceeded
before we make a long or short commitment in the stock.
Friends, I conduct training in an individual format and in a limited number of students, since a large number will interfere with my trading!
The training course includes :
The Wyckoff Method
Demark method
VSA
A trading method tailored to your psychotype
Psychology of trading
For details, write in a personal message
I can also introduce you to my own unique indicators , of my own design
Wykoff Zone (You determine the activity and zones of smart money and also gives buy and sell signals )
is a Demark indicator that has no analogues on the platform - since most of the indicator are far from the essence of the Demark technique and are too simplified , which violates the basics of the principle
For investors, I can shift a 2-week lazy investor course where you can learn how to invest correctly and in which stocks + the tic-tac-toe method
supplemented
with your own developments taking into account the imbalance of supply and demand
Cripto
RISK MANAGEMENT + PATIENCE = SUCCESS
Hello everyone! In this idea, I will try to warn you against the wrong approach to trading.
As you know, 95% of retail traders hold their losing positions for too long in the market, but at the same time cut profits before the trade reaches its potential.
That is, a trader, being in unprofitable positions, is ready to sit out huge drawdowns -50% ..- 70% ..- 100% of the deposit, but at the same time, with a profitable trade, he is ready to close the profit with a yield of + 1% with trembling hands.
It is a common trait of a retail trader to be constantly at war with the market.
The fastest way to drain your deposit is to fight against trades that are going against you. 95% of traders fall into the trap by increasing their stop loss on an open trade or, even worse, adding even more positions to a trade that goes against them, sincerely hoping that the market is about to turn around and go in their direction.
Successful traders do the opposite.
Taking the risk per trade of 1-2%, they minimize their losses in unprofitable scenarios by closing by stop loss. But in the case of profitable trades, they take MORE profit than they initially risk.
In this case, a profitable trader may have more losing trades than positive ones, but he will still be in profit.
Take the emotion out of your trade and let price hit your stop loss where you set it. Thus, your losses do not exceed the threshold of the planned risk, allowing your profitable positions (with a good risk: reward ratio) to override any that did not work in your favor.
Cut your losses and let your profits grow
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Analyst and Trader. What are the differences?
The main difference between an Analyst and a Trader is in their main goals.
For an analyst, the main goal is to determine the future price and write articles.
Most analysts give a double trend direction in their forecasts, as they worry about their incorrect forecast, and hedge in case of their mistake.
For a trader, the main goal is to MAKE a PROFIT when working in the market. At the same time, the direction of the trend is a secondary goal, since you can also make a profit by scalping when the trend does not matter much. Each trader has his approach to trading and his trading strategy. One trader opens a long position to earn money on the growth of quotations, but at the same time, another trader opens a short position on the same instrument to earn money when the price drops.
PROFIT is the main priority for the trader.
The analyst can show alternative options for the development of events, leaving the trader to make a responsible decision about actions in one or another option. At the same time, the Analyst does not risk anything - neither his money nor his reputation, since TWO OPPOSITE scenarios insure him from making a mistake.
As a rule, 65% of analysts do not trade themselves, but only write analytical articles and make forecasts.
A few facts about the analyst and trader:
Analyst:
- collects information and analyzes the market situation
- writes analytical articles
- makes forecasts (usually in two directions, for safety)
- probably trades/invests by himself according to his forecasts
Trader:
- determines the direction for a potential transaction
- performs risk calculation and installation of a protective order (stop loss)
- performs trading operations on the market to make a profit
- manages and accompanies the position from the beginning to the end
And who do you think you are? An analyst or a trader?
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Without this, you will not become a profitable trader
Yes, this is risk management.
Without proper risk management, your trading strategy based on levels, indicators, patterns, etc.will not make any sense.
Any trading strategy should be supported by strict risk management, where the maximum allowable losses per transaction and the risk ratio are observed:the profit is always more than 1/2.
You don't have to be right in every trade. It's just that your profit in successful transactions should be greater than the losses in unprofitable transactions. This correct use of risk management will lead you to success.
____________
The example shows one of the real scenarios of any trading system where the rules of risk management are observed:
Deposit of 10,000$
The risk per transaction is -1% (or -100$)
Total trades:
4 profitable trades = +14%
10 losing trades = -10%
Total: +4% (or + 400$)
Even though only 30% of the total number of profitable transactions, we still have a profitable result.
Learn risk management and become a consistently profitable trader.
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Why do you NEED a diaryMy philosophy is based on simplification.
I believe that reducing a problem to its fundamental parts helps us to better interact with them, and by being fundamental, our results are maximized.
It's like fixing a room. It is no use spreading our attention to details such as the type of lamps while neglecting the underlying problem, which can be a large coat of paint or an unforgivable hole in the ceiling. If habitability could be classified in points, at the same time invested, we will earn many more points by fixing the block earlier than by reflecting on the type of light in the bulbs.
Of course everything must be dealt with, but trading has a lot of variables, and most importantly, a lot of emotionality. Investing in the stock market notably activates the limbic part of our brain, and it robs the neocortex of prominence, making it more difficult to identify problems with this emotional blindness. Therefore I think that we must minimize the variables to the most important to maximize our attention in each one of them.
But to reduce trading to the fundamentals, the person must first be analyzed to identify the root of their problems.
Does the person have adequate knowledge? Perhaps he has good technique in theory but the execution is not good, or his problem lies in the situation of keeping an open operation, something very common, since our survival instinct makes us exit the market at the minimum profit opportunity, without having Keep in mind that this profit must cover the losses we have until the next profit occurs. The reverse is also very common, people who had carried out an analysis and the price has overflowed negatively, but are unable to close the operation because they do not want to accept having lost, and finally the price continues in that direction contrary to their analysis, causing them to lose a lot more money.
As much as when going to the doctor, advancing in the trading career requires identifying what individual problems you have and applying the appropriate remedies, that is, working on the weaknesses.
For this, it is essential to review the operations at a time and draw conclusions, and for this it is essential to keep a daily trading journal, preferably in a physical notebook, of each day of operation, so that it can be reviewed each end of the trade. week and progressively correct mistakes and enhance what already works for us, to avoid committing them again and spending years going around in circles.
I personally use a physical notebook for a lifetime. I do it this way for various reasons, and although in principle it can be argued that it is much more practical to write it on a computer, with the option of uploading it to the cloud and accessing it from anywhere, each person works in a different way, and I, After trying in virtual and physical, I have decided on physical, because it works better for me personally. The reasons I have, again I stress very personal, are the following:
- I usually use the computer a lot so I always end up with a desk full of documents, shortcuts, stickers of ideas that come to mind ... keeping a diary requires discipline, and added to the fact that I am quite clueless, if I do not have a notebook There are times when I don't even remember writing it when I open the operations. However, when I have the notebook next to the computer and always in my range of vision, I never forget it.
- Writing with a pen requires more time than using a computer. I learned to type and can type at high speed on the keyboard, however writing on the notebook is much slower.
This, far from being a disadvantage, I see it as a great advantage, since as I write I have more time to reason it, so it is easier to reach conclusions as it is written and that the result has more value for later analysis.
- It is easier for me to add graphic parts to the written part. When I write when I open a trade, I always tend to draw more or less the shape of the price it has at that moment and indicate with an arrow my entry point and stop loss. This could be done on a computer and then added to the text document if it is made virtual, but it seems faster and easier to me to just stop writing and draw it.
- Writing in a physical notebook is totally private, they will never be able to sneak a virus into you and steal your information if you write it on paper.
As you can see, virtual or online is not always the best for everyone.
That said, the way I keep my journal is as follows:
- The first thing I do is write the date.
- I write the time and the market symbol of the trade I have opened, the why, and then I draw more or less the current price and the stop loss level.
- On Sunday I review every week. What I do is start with the first trading day of that week and see what the price really did. I write the newspaper in blue, and the weekly review in red: I draw in red more or less the price movement that happened after the operation.
I also write if I was right or wrong. If I was correct, I see if I could have won more and to what extent. If I have failed I analyze why. I finally draw a conclusion, if there is one, and move on to the next day. Sometimes the only conclusion is that simply the price movement has gone against and no sense can be found, so I assume it as an irreparable statistical loss.
After the page of the last day of that week, I write the date and a title with "reflections of the week", and I write again all the conclusions that I have drawn each day and then I make a final reflection on those conclusions to see if You may see a pattern of behavior or technical failure that may change for the following week.
As you can see, I am very methodical when it comes to my trading, and this has helped me greatly to polish mistakes that I could not have realized if I did not keep a journal. In the day to day of life many things happen that can distract you and sometimes keep you making very absurd mistakes, that if you had reviewed your operation a little, you would have quickly realized.
For these reasons I believe that anyone who boasts of having results in this business must realize that it is necessary and make an effort to create this habit.
A little about my trade-11 (Bitcoin-"smart or beautiful"?:-))I continue to talk about my trading principles.
