How to start Trading!We (the discord mods) are trying to get a document going where people can look for advice on how to get started in trading, its not an easy question and certainly not an easy answer, but here we go :)
Be prepared that to becoming a profitable trader you will need months (even years) of training and learning, but its worth the time!
The beauty of Tradingview and its tools (Paper trading) is that you can learn it all for free. (All you need is time). You can demo trade for free, learn and experiance how the market moves, learn what you want to do later in life and learn all the nessessary tools you will need!
We realize that certain information is maybe something that you dont agree first or you say "what? that cant be real?", but bear with us for the time being, go through this document and then decide!
So, lets start with the first question for you:
What lifestyle do you have at the moment?
Why is that important? well, for each trade you need a few hours of preparation, and if you are a daytrader (intraday trader or scalper) then you trade each day (even multiple times) and each time you need preparation, can you do that? can you sit 4-6h infront of the computer everyday to analyse a trade?
If not, we have other options for you.. for example swing trader or investor.
What type of person are you?
For example: if you decide to do scalping, be prepared to get more stressful situations then a daytrader.
So it's important to figure out how you want to trade and what you can actually handle (the psychology in trading has a HUGE impact of your trading life.)
If you go and test out some strategies and you realize that this is not for you, then you have a clear sign that you shouldnt explore this further.
What type of assets can you trade?
There are local laws that you have to follow in your country that may be restrictive to certain assets so you have to figure out what you can actually trade. There are plenty of assets outthere, you just have to explore them and search for a broker you can actually sign up with a KYC.
For this, the best option is to go to Brokers and check them out until you find one that is allowed in your country.
(Be careful with brokers not on tradingviews list, for example if you want to trade crypto but its not allowed in your country but you find some broker you can sign up, the problem comes once you want to withdraw and use the money in your country. your local bank is most likely not letting you do that.)
Basics of Trading
No matter what you decide to be (daytrader, scalper, investor..), you will need to learn the basics of all of them.
Learn all the basic Terms such as:
- Long / Short (Bullish / Bearish)
- Bid / Ask (combined with spread below)
- Crypto, Forex, CFD, Stocks, Options (Bonds, Shares, Indices...)
- Market Order / Limit Order (Stoploss (SL), Profit Target (TP), Trailing)
- Leverage
- Margin / Balance
- Spread / Slippage
- Gaps
- Ranges
- Timeframe / Sessions
And then there are the major Indicators:
- RSI
- MACD
- Stochastics
- Moving Averages (simple, exponential, smoothed, and so on..)
- Price trends
- Support and Resistance (Supply & Demand)
- Volume
I know, alot of you reading this go like "What? indicators are useless, price action is the real deal.." but thats not the point here, we are learning the basics of trading. The more you know the better you will be at trading. Knowledge is power.
Also i would advice you to study the math behind them too, while you do that you learn how and why they act the way they do!
Journal
Yes, we all hate it but we all know why its good to do! :)
The simplest method i find is to use the long/short tool of tradingview, write down the notes in a textfield and then hide it in the control-center of your drawings (rightclick into chart -> Object Tree)
Do it! you won't regret it!
Risk Reward
This topic is something so many of you ignore and its one of the most important part of trading.
You all heard the sentence "there is no trading without SL" and some of you may think "yeah, thats not true", but in the Risk Reward section you learn how and why this sentence is as true as it gets. you never, ever trade without SL because otherwise you cant calculate your risk.
There is also the golden rule "Never risk more then 1% of your Money" and with an SL you can manage this sentence, without it, how can you even begin to manage this? you can't.
(Yes, i know some of you risk 2-5%, but not me, im a firm believer you should never break this rule).
If you risk 1% and lose 10 times in a row, you lost 10%. if your RR is 1:3, you need 4 wins to regain your losses.
If you risk 2% and lose 10 times in a row, you lost 20%. if your RR is 1:3, you need 7 wins to regain your losses.
... you see where this goes, right?
For this, and any other topic above, the best thing to use is the Search function on tradingview, input the title and read it all. (yes, all, yes it will take weeks, yes tahts what its all about)
Psychology
Okey, this one is a big one. not gonna lie, that will take the most time because we are all humans.
you will experiance FOMO (fear of missing out), greed, rage, and so on... thats just normal.
Thats the biggest reason to start journaling your trades, write down what you felt, why did you take a trade that you realize you shouldnt have in the first place?
So, in psychology everyone needs to figure out how he/she is obviously, i can just tell you how i do it right now and what steps made the biggest impact:
I do only 1:2 RR trades.
- Yes, after 1:2 im out, i dont care if he goes to the moon, all i care is that im no longer in a trade (my mind plays all kinds of tricks while in a trade.)
- Big impact!
I only trade 1 asset.
- I trade EURUSD all day long for years now. No, i dont look at others while im actively trading.
- Big impact!
I set and forget.
- i put in my SL and TP and once im in the trade (or even set the limit order) im semi-afk from the charts.
- I have 2 alerts on my tradingview, one for the TP and one for the SL. thats it.
those few steps helped me a ton in my trading, and yes, they may not be for everyone but it is just a showcase of hwo you need to find something that works for you.
Dangerous
MSFT Update (options)Through their tales of joy and pain,
We'll learn to dance in life's sweet rain.
So listen well to words from the wise,
And let their knowledge be your prize.
As an update to my idea yesterday, I discussed that if MSFT broke down, that we'd head toward $253 and we got to $253.58 which is down from 256.87 where we closed yesterday.
MSFT filled the gap in the first 15 minutes of trading then was rejected in a big way. I believe we'll hit that target of 253 exactly, but will be watching for a move back toward 247 if we break 253.
Watch the wavemaster on the 15, though. We're pretty oversole so don't be surprised if we get a bounce tomorrow in the first part of the day before potentially reversing lower later in the day.
APPL Detecting Successful Trades Without Needing a SubscriptionI see a successful trade as a trade either makes money or mitigates losses and further loses. An example of this is the trade I made on may 17th and exited 5 minutes into the day of May 18th. The price dropped 5% further.
Long story short, I have thought APPL looked like crap since April 7th, when both Hull averages on the day and 4HR timeframe lined up in a bad way just days after APPL was set up in a bullish formation (with my indicators). To me, that kind of movement is a standard signal for significant downwards movement.
Possible downwards targets where I look for action. Key mention. When looking for a buy I expect nothing to bounce 100% anywhere. I almost ALWAYS look at price action at these areas. I never expect a bounce or drop for sure just because a line resides there.
Downwards targets:
118-122
79-88
I list the possible upwards targets in the video, but if somehow APPL does go up, it most likely has a lot of bumps on the way. Saying definitive upwards targets seems disingenuous.
The 2 Indicators I use are listed in the first 30 seconds of the video. By using only 2 indicators, this means that anyone can use this strategy to analyze on TV without needing to buy a subscription. I still recommend the subscription for analyzing, because I enjoy double charts.
DoubleHull by KivancOzbilgic (375 and 500 length Hull moving averages)
SMMA (200 length Smoothed moving average) Not the SMA! (Simple moving average)
If you'd like, you can check my Related Idea "Market Update: Being right is boring" below. I mention APPL at the 2 Minute mark.
I also added the Related Idea "How I Analyze the Market in 20 minutes." which gives a more in depth look with more examples of how I analyze the overall market using the 500/375 Double Hulls and several tickers. Check it out if you enjoy.
Take care and stay healthy yall.
Very important Trend Line for BTC.The above displayed BITCOIN chart has illustrated BTCUSD pair since Corona Dump (2020 March). We can be seen a very important trend line has begun from that dump and it was a very strong support line for BTC, Unfortunately it has been broken to down and it has been a very strong resistance now, BTC tried several times to broke it how ever currently BTC in a correction zone. If BTC can brake this strong resistance we can see a huge Bull RUN.
#DoYourOwnResearch#
#IamNotaFinancialAdvisor#
Thank you !!!
BTCUSDT AnalysisIs this a trap for buyers?
Let's check together.
The pattern you see, which I have copied from the 4 hour time and put on the daily time, is weakening the strength of the uptrend.
Then it enters an bullish channel and after the failure of the channel, it is done very bearish
Avoid any emotional shopping please
May Be Re-Test or Crash? Who KnowNow I am in Usdt
My Btc and Alt entry zone is to down of the purple channel.
And I am exiting target is befor than yellow resistance
Thanks for your attention. You can ask everything I am waiting to you
Please click like button and Appreciate my hard work.
Must follow me for latest crypto real time updates.
BTC IN CONSOLADITION, BAD NEWSSorry guys situation is bad, There is Consolidation and time to crash
We have support in 34.800. May be Btc is going to bounce from this Support
I am in Usdt. My enter level is 30.000s, I am waiting to this level
Thanks for your attention. You can ask everything I am waiting to you
Please click like button and Appreciate my hard work.
Must follow me for latest crypto real time updates.
BTCUSD IS IN VERY DANGEROUS AREABtcusd is in very important area.
If Btc will break up and do re-test to red resistance with big volume , We can see 47.000. This is good scenario.
There is flag formation;
Also ıf Btc will reject to red resistance, We are entering supper bearish season.
For Now?
Now I Usdt since 36.000-37.000. And I am waiting result; Up Re-Test or Reject Resistance? Wait and see..
Thanks for your attention. You can ask everything, I am waiting.
Please click like button and Appreciate my hard work.
Must follow me for latest crypto real time updates.
QS dangerous speculatingHi everyone, today I want to talk about QuantumScape Corporation.
That is company, which works and producing with lithium-ion batteries. She exist less then 5 years (very young).
At now it is dangerous company for investing on a long period of time and it needs to wait more then 2 years to see what will happen.
From other hand, QS made an agreement with VolksWagen about producing of improved batteries, so VW is not investor, but customer.
And interesting moment - VW bought 15,2 mln shares of QS - it can show about future of QS, but it still needs to watch.
That can cause sharp rising of QS stocks.
NFLX | Short Opportunity | 3 Day Chart |Correction of 9% - 22%Why subscribe to my post and follow me?
I'll only provide excellent opportunities that you have a hedge; this means a good risk and reward ratio
I have a BA in finance and a good understanding of microeconomics
I have five years in Technical Analysis, I love reading charts and won't provide you with shitty charts or different indicators every time
I'll provide you with realistic targets and exits for a safe trade
I want to provide information for all long & short term traders. Long can hedge against this move, and shorts can profit from the correction.
A. Netflix has gained over 68% over the last four months; there is no doubt that due to the COVID - 19, the amount of membership has increased dramatically. It has a current P/E ratio of 96 compared to its biggest competitor Disney with a P/E ratio of 37.
B. Netflix has created fantastic content, which has helped them almost double their revenue and contribute a higher EPS to shareholders from 2017 to 2019.
C. Analyzing the 3-day chart, we find divergence since the start of the COVID 19 in March. On Feb 14, 2020, the RSI was a high-level os 75 at the price of $400. Since then, it crashed down to $300 and back to $480 this week with an RSI of 63.
D . Divergence is a sign that the trend is getting weaker since there are fewer buyers, and we could expect a change in pattern.
E.Corrections :
1. The first correction I expect it is a solid uptrend is to bounce at the 20 EMA at $433 and break overbought conditions at 70RSI to break the divergence.
2. The second possibility is a correction of 38.2%, which is next to the 50 EMA, which is 22% away from the current price at $394.
3. The last possibility is that it bounces the 100 EMA at $365.
4. Use this correction points to average in or to hedge against you long positions.
Trade safe and do your own DD.
Stay Away From TROUBLE And Win!! - 05/27/20 RECAPHi traders,
it's typically like a holiday for us traders when the market (SPY) moves strongly to one side as it did after Wednesday's open. But in current uncertain times (see my vid. "Indices Will Start Falling When...") you can never be sure of the genuity of such move. We saw exactly that yesterday. A V-shaped reversal and straight back up, ending the day positively!
This was why I stood away from the initial scrum and eventually found a profitable long opportunity later in the day.
Trades:
1) SIX - LONG @26.81, closed 1/2 earlier and raised SL. +1.30%
*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: +1.30%
Total PnL for the week: +0.60%
Good trades,
Tom | FINEIGHT
BITCOIN DROPS TO 0 ON BLX! -100% !!!Can anyone explain what is going on here?
The BLX chart shows a drop of 100% to 0 on Bitcoin.
Certainly on any other chart/exchange bitcoin is a normal levels.
Has anyone any idea what this means?
This shows only on the 3D and Monthly timeframe,
all others are at normal price levels.
This needs clarification!!
Cheers,
Konrad
Either the bulls kill him or they are gonna be f'ed! One very brave(very slow?) bear has entered the bunker with a TNT onboard.
Kill this furry animal quick, or there's gonna be not enough coffins for the bulls!!!
If it lives - 7100 is our next hope.
If price goes lower 7100 - gonna wait a few days for the new bullish attack)
Someone is selling who bought at 6500'''.
Probably will sell the whole night, waiting every time for the price to bounce south.
Some bear this is...
Waiting for that NFLX ShortNetflix risk is very high and reward very low. Worst of the FANG stocks for sure. Netflix has almost doubled this year with no mean reversion or accumulation of volume A pullback on netflix could see it lose 75% of its value if it returns to weekly volume node.
I wouldn't usually short such a big gainer as NFLX, but the opportunity could present itself if it continues to rise as a parabola could short when that parabola breaks. I would watch for major momentum shifts downward, blow off tops, and break in upward trendlines to find long-term shorts with good R:R.
Somewhat unrelated but if the global market goes bearish long term, Netflix would see the largest downside of the FANG stocks. I am not doom and gloom on the market or anything. I think finding some short opportunities both short term and long term is a good way to keep capital safe from unexpected market swings so we should always keep it on our minds and allocate some earnings to bearish plays when opportunity arises.
By the way. Great alternative to NFLX in entertainment space is DIS:
- Netflix net income: $671 million
- Disney net income: $11.5 billion
- Netflix market cap: $160 billion
- Disney market cap: $149 billion
Disney is at major support here, and a break down from a symmetrical wedge on the weekly is unlikely. Disney is generally safer being long established and dividend stock, but especially safe and bullish right now per its chart.
[BTC-USD] BULL TRAP! NOT SUSTAINABLE! BTC MUST CORRECT!We are at the very top of a growth cycle which is "NOT " Organic and being manipulated by HFT and Large Whales! This is not sustainable by the regular investors or traders. Investors/traders beware of the bull trap which I see! I will wait for the price correction and would rather be safe than sorry!
PS. Their is too much TA garbage out there speculating in price action hitting 10k. That is ridiculous! We do not have enough volume to take prices up as everyone thinks. I do modeling on excel with a bunch of math as well, and these price increases in just 2-3 days simply don't make sense! Its all hogwash! NOT ORGANIC.....I believe we are treading in dangerous waters. Not entirely convinced of this bullish reversal!
PS. This is not financial advice, follow your own TA and devise your own entry-exit plans!
STELLAR WITH FULL TA PATTERNS AND A IMPORTANT WARNING !!!To everybody:
The chart I think does not need much explanation.
On my first chart of this coin I took the time to see his full story, his white paper, his roadmap and his behavior. In the second I made a chart to see its possible trend.
I found that it was forming an upward triangle, within which the price was handled correctly until after a doji, there was a sale to the zero level of fibonacci in poloniex in one candle.
Maybe not Us, but for me this kind of behavior, attentive to the transparency, the health of the market and above all to the trust deposited in the people, with which I feel guilty making charts that finish in this mess.
Because with money and people's trust u can not played.
Thanks for your time!