Education

My simple way of trading

This is just a quick and simple way of how I look at the markets, this was analysed with the 15m then I zoomed into the 5m. I like to do it as simple as possible because I found out that the easier the better. Of course I have my own flaws but the main idea is to have that little edge. My main reason to post this is not to give you a strategy per se but to give you an idea of how you could view the markets, remember, what works for me might not work for you. So I used to try to predict the market a lot, you know trying to guess where the market might reverse next then I would place an order there, most of the times the market would go to that zone like I "predicted" but then would continue shooting straight through taking me out. I then came up with an idea that, why not try find entries in the move to my point of interest (going with the flow) instead of trying to guess where the market will reverse. Ever since I did that my trading began to improve. So my way of trading is simple, I focus more on waiting for big moves to my desired direction then finding entry points after the market confirmed its direction, that way I avoid trying to predict prices where the market might resist/reverse at. If the market does resist from a certain price then I again wait for a confirmation usually in the form of strong rejection candles then I find entry points after, sort of like the impulse correction impulse idea. Of course there is a lot more to this than 1 paragraph with a picture of a market structure that happened already but you get the idea :). Danko!

thebasiqtrader

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