Lesson
Trade Accordingly to your own set-up Hi guys, today ill be showing you that trades that are in your set up are the best. They give you high probability trades. Bigger reward trade, less risk, and you can review it again and again to improve your trades. I always put stop loss to lessen my risk. Happy trading everyone
Wondering why GOLD drops? Here is WHY!Hey tradomaniacs,
lots of Robin-Hood-Traders are asking themselfs: Why is gold and silver dropping?
Well it can have a lot of reasons such as Profit-Saves due to the overbought situation, the fact that stock-market continues to climb and SPX500 is almost at its All-Time-High (portfolio turnover).
It can be the fact that DXY (US-DOLLAR-INDEX) is oversold and so likely to retrace.
There can be a lot of reasons but one very obvious correlation that makes sense: US BONDS YIELD went straight up after hitting an all-time-low.
Why is that? When there is still uncertainy and fear the stock-market all the institutional traders are looking for save havens.
Save havens are usually alternatives to stocks such as metals, currencies like YEN and CHF or BONDS as you get a safe and fix return for your investment.
But what if the interest rates are too low? You look for alternative assets which are not interest.
Gold has always been a save haven, which is the reason why the current rally makes no sense.
Why would CHF, YEN, metals such as Silver and Gold climb at the same time? Because the market is uncertain!
Gold currently has a negative correlation with US-BOND-YIELDS as it is a no interest asset and a good alternative for a low-interest-market.
Watch these YIELDS when you do your analiysis for gold. ;-)
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
Multi Timeframe Analysis - different supply/demand levelsHello all,
this lesson will be about my monthly/weekly, daily, 4h etc. supply/demands critical areas, so you can get a better idea why i use them. After you know the most basic thing about my analysis, we can start with the next baby steps in understanding price direction.
This also goes for all of the structures such as closed triangles, trendlines etc. on the higher timeframes.
I prefer using the term "supply and demands" since it is the correct one in economics. In other words supply and demand can be seen in every single product that is offered in a market.
Sorry for my mistakes, it took me more than 15 recording in order to get this one. Thank you!
Have a great trading week!
Forex Price Action AnalysisHere we have Really good Setup and price also holding Very well
1) we have very big Wick (shadow) Candle this is the alert time in any trade.
2) we have doji which is for reversal (not all the time) but Volume is good
3) we made bullish candle and bouncing from Support support is Solid.
so when we find the good Support we are ready to buy the retest as always so here we are buying the retest with stop loss below Support
so here we got really decent profit with very small stop loss. and good gain
THIS Is Why You Need Stop Losses!! - 06/17/20 RECAPHi traders,
Some days trading is harder than usual, most of the times because the SPY is indecisive or switching "sides" frequently. Wednesday was one of those days. Most of my trades went into some profit, but eventually failed. The last trade of the day in NCLH put me back into more reasonable loss for the day thanks to my 1:2 RRR I aim for.
Anyway in the video I talk about the importance of Stop-losses as I was kicked out with MORE THAN 40c SLIPPAGE in GRUB. Now imagine if I had no SL and it didn't retrace... scary stuff!
Trades:
1) GRUB - LONG @64.84, -1.31%
2) KSS - SHORT @23.68, -0.49%
3) BA - SHORT @192.3, -1.02%
4) PDD - SHORT @81.56, -0.65%
5) NCLH - SHORT @19.45, +2%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: -1.46%
Total PnL for the week: -1.52%
Good trades,
Tom | FINEIGHT
<Education> A PRIMITIVE Reason To Your ID Losses...Hi traders,
let's look at a fact so simple you probably never took it into consideration! Most of the traders with at least some experience will acknowledge the key to profit is psychology rather than a magical pattern. Time plays a big role in our thought process. Let's combine time with basic math:
Each stock has it's own "tempo" which of course varies, but we can eyeball it. Let's say it moves 1 dollar every hour. Your SL is 50c and you are using 2:1 RRR. See the point? If it hits your SL, it will be much quicker than if you are right but have to endure the hour-long journey to your Profit Target.
This is one of the reasons after a few losses you get the feeling "The market is after me!! Every time I enter it kicks me right out!".
Thank you for your attention and I hope this little piece helps you rationalize some of your fears.
Tom | FINEIGHT
Playing It SAFE Is a Double-Edged Sword! - 05/18/20 RECAPHi traders,
I am starting this week with breakeven after 3 trades. Funny enough I got the same result managing them as I'd get just setting the SL and PT and walking away. But watching closely the market, I was safer thorough the day with my adjustments (it's easier to judge in retrospect).
My Trades:
1) SYF - SHORT @17.74, originally a LONG idea turned to be a decent short, but got really lazy. -0.43%
2) MT - LONG @9.31, beautiful setup, didn't have enough strength to move over HOD. -0.15%
3) PENN - LONG @21.58, got out with first half at 1:1 and moved SL to BE seeing the market starting to fade. Turned out PENN was still strong enough. +0.53%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: -0.05%
Total PnL for the week: -0.05%
Good trades,
Tom | FINEIGHT
I Was Right...But At The Wrong TIME! - 05/14/20 RECAPHi traders,
What a day! I took a record of 7 trades (my average is about 3) and all of them were beautiful setups. But most of the time the market went immediately against me and pushed the stocks I traded the other way!
Key point here is not to give in and blame the market - it doesn't care at all and you can't sue it :D
Reduce the size so you don't exceed your maximal daily loss but stay in the game if you are mentally in a good state (for beginners I'd suggest switching to DEMO after 2 consecutive losses, though!).
Yes, being down for the week again sucks, but thanks to good risk management it's just over 1 percent - a single winning trade away from turning green. This is why RM is your priority. It's much harder, if not almost impossible digging yourself up from 10, 20 or 30% Drawdown
My Trades:
1) CODX - LONG @28.39, -0.95%
2) Z - LONG @46.53, +1.18%
3) MRNA - SHORT @61.95, -0.75%
4) AMD - LONG @53.03, -0.93%
5) UNFI - SHORT @18.89, -0.04%
6) DDOG - SHORT @62.78, -1.08%
7) SYF - LONG @17.02, -0.65%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: -3.22%
Total PnL for the week: -1.37%
Good trades,
Tom | FINEIGHT
Gold: The best trade to make right now| Emerging currency TrendThe markets are driven by 3 key indicators:
1. Sentiment
2. Fundamentals
3. Technicals
The sentiment on gold is that it's a safe haven. Gold always retains value. Gold moves in cycles that're far apart because it measures the value of things in society in relation to it's natural scarcity.
The last gold move was after the 2008 recession.
Before that there was a signaficant move around the dot com bubble.
In this "Great Lockdown " there's bound to be a cyclical move in Au and all other commodities in sequence due to the fundamental inflation/deflation that's devalued in relative terms.
The dollar is still the reserve currency - until the yuan gains that disrupts international trade flows.
The demand for the USD is apparent. But I have 'strong opinions weakly held '. Flexibility is the name of the game and being firm and nimble is not a paradox but a requisite trait of professional traders who operate in the currency markets.
Technicals are indispensable tools that enhance precision and are mastered by skillful professionals.
All skills can be learned but trading remains the hardest way to make easy money.
The major vice is risk management.
Setting the golden ratio in the the trades will rationally lead to gold. Each trade is a ration of gold facilitated by the golden ratio in terms of returns garnered from risk-adjusted returns.
Week Slightly in RED But Many Teaching Points! - 05/08/20 RECAPHi traders,
Welcome to a week sup-up together with Friday RECAP.
As I explained in Thursday video it's sometimes hard to judge whether you should hold onto the trade and it really comes down to your backtesting and psychological comfort.
I am, however, pretty happy about the reverse I did in SPWR because I've been studying this behavior for the last couple of weeks and it did (sort of) work out!
My Trades:
1) CNP - LONG @18.32, jumped the ship before my original SL and then the market finally turned and went without me. -0.86%
2) SPWR - LONG @8, unfortunately, didn't go as far as my target. Moved my SL to at least don't lose on it. -0.1%
3) SPWR - SHORT @7.74, seeing a typical extended behavior with a volume drop, I found a nice technical formation to go again, this time SHORT. It didn't really move much after, so I exited before the end of the day for a +0.2%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: -0.76%
Total PnL for the week: -1.12%
Good trades,
Tom | FINEIGHT
<COMPARISON> When Should You Jump The Trade? - 05/07/20 RECAPHi traders,
Today is a holiday in my country so I laid back and didn't rush with Thursday's Recap. That allowed me to do an improvised comparison of two trades - one from Thu and one from Fri, both of which I exited earlier and possibly cost myself some money.
We'll look at all the variables that go into deciding whether you should "jump the trade".
My Trades:
1) VIAC - LONG @17.04, a breakout long that proved weak, exited early. -0.46%
2) ZM - LONG @158.10, a nice breakout in a crazy spready and fast market. To be honest this was a test for me that I took with half the usual position and failed to hold for more profit. I got a "taste" of what this type of stock feels like when in trade to be able to slowly get used to it. +0.98%
3) CNP - SHORT @17.88, in retrospect I should've settled with the +1% it offered before close. +0.05%
4) SAVE - SHORT @9.79, a nice breakdown setup for a scalp, sadly didn't work this time. -1.05
5) SNAP - LONG @18.05, a breakout late in the day over a major resistance. It went only a couple of cents before pulling down again - should've closed earlier as per this video's topic. -0.85%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: -1.33%
Total PnL for the week: -0.36%
Good trades,
Tom | FINEIGHT
Should You Be Angry At Your LOSSES? - 04/28/20 RECAPHi traders,
Tuesday meant 2 losing trades for me. Should I be upset? Well, there's no reason as both of them were according to the plan! If I broke it and won I should be at least a little angry with myself. Had I broken it AND lost at the same time, I should have been really furious.
The trading plan gives you psychical support even if you're losing.
Today's trades:
1) NYSE:CNK - LONG @14.47, SL 14.07. Good setup that gave in to the SPY falling off the open. -1%
2) NYSE:CCL - LONG @14.46, SL 14.06. Basically the same but later - it was holding strong DESPITE SPY dropping, an eventual turn in market direction would cause CCL to be a great winner. -0.93%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: -1.93%
Total PnL for the week: +0.89%
Good trades,
Tom | FINEIGHT
How I Knew SPY Is Gonna Drop Today (VIX Magic!)Hi traders,
yes yes, the title is a little bit click-baity, but to be honest, SPY down was about an 80% probability for me today.
Now to be fair, I've been expecting this move lower for over a week now, so plenty of factors surely played their roles, but as soon as I saw VIX close out in a 1-2-3 Low formation yesterday (Monday), I had that final confirmation today is the day.
For beginners, VIX is what traders call a "Fear Index". Put plainly it takes into consideration markets' volatility, options volume ratios (whether there are more than usual people hedging) and gauges a "level of panic" traders are currently showing with their actions.
Its history is shown in the chart and therefore we can look for our standard patterns! Being inverted (High VIX values mean more fear and likelihood of markets crashing), a bottoming pattern such as 1-2-3 Low which appeared yesterday signalizes possible SPY reversal down.
And that's it!
Hope you learned something and be safe.
Tom | FINEIGHT
Pattern Triangle - How to find? how to use in a right way?Triangle is one of the most populat pattern. A lot of traders are trying to use, but mostly thay can not find it, or are drowing it in a wrong way. In this video I am searching patterns with you and also will give you most important principals for trading with it.
Sticking To Your Plan Can Be PAINFUL - Daytrading RECAP 04/16/20Hi traders,
Today's session brought me a great chance to test my ability to stick to my plan even though my setups weren't working out and I saw other opportunities.
Do you have your trading plan printed out?
Three trades today:
1) HTZ - SHORT @4.98, turned some 7 cents shy of my PT, but having learned my lesson in OXY yesterday I closed in minor profit. +0.4%
2) NASDAQ:GT - SHORT @6.74, started running up when SPY reversed to the upside. -1%
3) NASDAQ:AMAT - SHORT @50.98, initally a LONG idea, formed a nice breakdown setup but didn't go as far as I needed. -1%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the description.*
Total PnL for the day: -1.6%
Total PnL for the week: -2.93%
Good trades,
Tom | FINEIGHT
How to use Horizontal lines in a right way?Horizontal lines ar crucial to find the best stop levels, but they can give you much more information and also trading opportunities. Try to draw them in a right way and I am sure thay will help you.
How to use Trendlines in a right way? Mean principles and examples of using trendlines in a right way.
GBPJPY ShortGBPJPY has been falling and I don't think it can break the many strong resistance lines ahead...… but it will most likely retrace which is where we can start selling.
EURAUD What do u guys think?there was a big move up and i feel it will fall back and consolidate for a while.....but im hoping to buy after that....what do yall think?
INO: lost opportunity, not the first and not the last one.Crazy bull run from INO, which was missed and partially screwed up.. I realized some profit, but well below my target.
Entered the market at 4.28 and jumped out at 5.13, while my target was around 8.45..
I should have followed the initial plan, i should't have jumped out, i could realize more.. now i would do this, i would do that, blablabla...
It's easy to speak and difficult to act.
This is one of the lessons that I got during my trading career and which I want to share: "shoulda, coulda, woulda" obviously doesn't work.
I believe there are still plenty of them waiting out there, so everyday is a lost opportunity, but at the same it's just another one to focus on.
Move on and concentrate on what you have instead of what you don't.
//
I want to thank you guys (and of course my future wife) for all of the support you gave me during this 2 month, it helps me to improve and motivates me to do what i am doing here.
EUR USD long term forecastLongterm analysis on EUR - USD pier - Due to FED desicion yeasterday USD has lost its dominating position against major currencies. from 1.0884 up to 1.2000, but its is just a bigining. Here is weekly chart and you can find 3 most important resistance levels of 2019 traget 1 (1.1243), target 2 (1.14.6) and target 3 (1.1569). If ECB will not change its policy until the and of the year as was planned, USD will cross all this targets during 2020. Now we need to monitor ECB's decision carefully.
