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A trading system for rookiesThere are many trading systems but most of them are very complicated for the novice trader. The 30d/200d SMA trading system is simple, easy to comprehend and gives few and reliable signals without many false signals. The trader has to draw the daily diagram of the stock. Next they have to install three simple moving averages of prices, the 30d SMA, the 200d SMA and optionally the 9d SMA (to track the price formations). Price movement below 200d SMA most of the times signals the change of the stock’s long term trend to declining and this is the reason we must never buy a stock below 200d SMA. Correspondingly, price movement below 30d SMA most of the times signals the change of the stock’s midterm trend to declining and this is the reason why a new trader must never buy a stock below 30d SMA. Following these two rules, a new trader can avoid getting trapped in a declining trend that can diminish their capital. New traders are unaware of the risk of holding a stock with a downward trend. They are carried away by the excitement and hope of its prices returning to the levels they bought it and do not sell it. So, when they now have a loss of 70-90% in the capital they invested, they are seized by panic and sell the share at humiliating levels, losing their money. This is also the main reason that the 90-90-90 rule applies, i.e. 90% of new traders lose 90% of their capital within 90 days. The second important reason is that they follow the very short-term trend of the share that gives repeatedly false entry/exit signals, so they do too many transactions that lead them to big losses. Only very experienced traders can successfully track the short-term trend of a share (minutes, hours). My opinion is that a new trader should follow the 30d/ 200d SMA trading system, which applies in the daily stock diagram, and leads them to a small number of transactions with minimum risk. In fact, this system, if firmly followed, may lead them to big gains. Later when a rookie trader gets experience, they can use the same trading system for shorter timeframes i.e. in stock diagrams of 1 hour, 30 minutes, 15 minutes and so on, timeframes. A complete list of guidelines for the novice trader is presented next. I am sure that following these guidelines, a novice trader can beat the 90-90-90 rule.
NYSE:HSBCEducation
by Gnothisafton
10
Gut Felling in trading. How long it takes to " feel" the market?I hear many traders talking about gut feeling, especially when referring to very good traders. I hear them saying that you will, at some point, feel what the market will do next. Many explain it as a sixth sense or cannot it explain it at all. I say to them the explanation behind is a much simpler one. Gut feeling in trading, most of the cases, is nothing else but subconscious pattern recognition. There is nothing magic here, it is simply related to how the human brain works in day to day life. The trader looks at his screen for thousands of hours. Every day, he tries to analyze the price movements, while the brain stores the information in an abstract way into neural maps. Millions of neurons fire and wire together and create complex memory banks which include associated emotional responses. Day after day after day, these memory banks are reinforced and restructured until the neural maps are hardwired. This process is all subconscious. The part which is even more interesting is the way the human brain retrieves the needed information stored in those complex neural maps. This mechanism is also done subconsciously and this is why many label it as “gut feeling”. So, when a trader instantaneously “feels”, in an apparently strange way, what he should do when he sees a particular market event, his brain has subconsciously identified a store pattern. You may ask yourself: So what? What difference does it make knowing this? I say it makes. When you understand how your brain works you should also realize that you have at your disposal an extraordinary working instrument, but this will not guarantee your success by itself. Those neural maps need quality data. Programmers are accounted with the saying “garbage in garbage out”. It’s the same with the human brain. If you don’t put the true intellectual effort in your day to day market observations, if you don’t approach what you see from multiple angles, if you don’t analyze your own emotional reactions, then your neural maps will be built on superficial data. You will only reinforce all sorts of ineffective pattern recognition processes, no matter how long you stare at the screens. By contrast, if you do it right, your “gut feeling” will evolve and become very valuable. Evolving as a trader is not only a function of how much time you spend trying. What really matters is what you are really doing and how you are doing it. This explains why so many traders cannot become profitable even after years of trying. They are caught in inefficient and superficial ways of looking at the market. So many retail traders rely exclusively on technical patterns. They don’t understand what really moves the markets and how those patterns are formed. They spend years and years switching from a technical indicator to another, without realizing they are unconsciously accumulating only superficial data. Some realize the trap … most don’t
OANDA:XAUUSDEducation
by Mihai_Iacob
7
ADAUSDT - Just LONG IT / 40% GAINS !!!-NEW author on TradingView -2+ years experience in markets -Professional chart break downs -Supply/Demand Zones -Key S/R levels -No junk on my charts -Frequent updates -Covering crypto/US stocks ADAUSDT 4h : BEST level to BUY 40% gains (SL/TP)(NEW) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. 🔸 Summary and potential trade setup ::: ADAUSDT 4h chart review / outlook ::: Reversal is happening right now ::: likely setting up for a bigger move up - Get ready BULLS ::: however short-term I recommend to focus ::: on HOLDING your Position or buying LOW ::: key resistance: 0.17 - 0.19 USD ::: key support level: 0.11 USD ::: recommended strategy: LONG IT 0.105 - 0.11 USD ::: SL 0.09 USD TP 0.17 USD ::: good luck traders
Long
by plukits
XRPUSD | Buy Long | price has broken the trend!In my novice analysis I have concluded that because of the extreme high we saw in this pair at 2.6 previously and then the extremes of consolidating lows around .14103 there is anticipation for a bull run. •the price has broken the trend line creating higher lows on the weekly and daily •price has been consolidating for an extended period of time after a huge draw down, strong buy opportunity with clean entry •SL has been placed at last most recent low •TP1 & Tp2 are in the next zones above With possibly more to gain I am watching what price does at .28863 and then will take an entry if applicable. ..... Please feel free to post your analysis or critiques and opinions ...I’m open to what others are seeing on this chart! Anything helps! GLGT
BITSTAMP:XRPUSDLong
by UnknownUnicorn9913667
USDCHF , Buy Long Term (entry) (H4)Based on my novice analysis I’m expecting price to hit the first Tp and possible push through till the second TP. •Price has broken the trend line and is consolidating for the weekend •Price has created a high-low •Price was last here in 2017 and then showed a bullish momentum. •Ichimoku cloud is underneath price and Chikou Span , price has also crossed over cloud ..... Please feel free to add any recommendations or comments! I’m going back a forward between trading Naked and trying to learn and using the cloud for confirmation.
Long
by UnknownUnicorn9913667
1
USD/JPY POTENTIAL LONG Slowly getting better at trading as I'm slowly learning one day would like to peruse it full time. One of the most hungriest traders out there wanting to get better everyday. Don't shout at me lol if you disagree but i thought this might be a little idea to share we shall see. I'm expecting it to break the resistance line soon and once that happens I will wait for the retest. If the retest goes to plan then I will shoot long and collect my profits hopefully. Remember guys always take trades with good risk management and the sky is your limit. If you have constructive criticism please feel free
Long
by CuLLuM315
3
USDCAD Go Long Entry Trigger Not Met Yet Of PostingThis trade looks very promising. The market is currently moving in a descending triangle as shown. This means lower lows and lower highs. We are currently approaching the low of the edge of the triangle. Secondly, the 50 Period EMA has been dis-respected therefore we expect it to bounce back from it. Thirdly, the market is moving above the 200 EMA supporting the trend that the market is moving in the uptrend. We are currently looking for an entry point to go long which could include a MACD signal overlap (which is looking very probable and soon) and some sort of bullish candlestick pattern.
Long
by MarlzRana
SPX ( S&P 500 ) risk investors on or off trade.Here is another trading Snack. Ever sense the stock market pushed to it last all-time-high, followed by risk off fears of the pandemic, we’ve only challenged the re trace move bacK to the 61.8 Fib level and now are grinding around. With zero or close to zero rates in most of the world, money managers who for the most part have only seen for the last 11 years a by the dip strategy, now are managing from the point of stocks are the only real game in town. This kind of mind set only feeds the fire of a grinding market till the next great big head line. To some degree investors are also looking towards the nation reopening up after the virus appears to be under control from spreading farther. But what will the effects of the nation closing the economy have on future outlooks and business planing? Most of the virus number that will effect investor short sided views aren’t in the mix yet. Mostly those numbers just started to show up, or in some headlines are the best guesses of our investor gurus in our present times. Buffet one of the greatest investors said the other day, now is not the time to buy! In fact his investment firm has been actively selling and raising cash levels. So what is the trade? In my opinion ask yourself what is the driving force in pushing stocks higher over the 61.8 level and then challenge those all-time-highs again? If you can not find a reasonable driver to that possibility, then the higher probability trade is sell the rallies.
SP:SPXShort
by PipsTradingClub
Are you confident ?Another Forex Trading Snack. I posted up a earlier a trade that failed me and my original setup. Sudden volatility struck fast and hard! Ok, I will admit it, for a moment my emotions were crushed. I went from trading my setup emotionless, to just about packing it all in for the day! What changed? A bit of self talk changed my fear of having just lost, to playing the statistical odds of my setup again. The first top red arrow was my failure due to increased and sudden volatility. My second attempt was the lower second red arrow by the pink trend line. Both the first and the second order was to sell AUDUSD and both orders were almost at the same price & stop zone. Some might say why did I try it again? Sure volatility was still in the market, but it was my original setup along with the 21 SMA ( black line ) that gave me the confidence that after almost climbing for a week straight, this one was ready for a pullback. In addition to that increased volatility didn’t break the 21 and hold it, but price action went right back to the lower channel trend line. My thought was if it breaks lower and holds the break, the 21 would bend lower and hold the buyers at bay until even the buyers of the past week would take their profits, thus adding to the down side pressure. In early Asian trade and as I type, my trade looks fine, stops are at break even (BE) and if I got out right here and now—what once was a 30 pip loss is now a +20 pip gain if I took it off. Because my stops are at BE should they get hit there would be zero effect to the account balance as it sits now. If that happened I’d take a 30 pip daily loss on these two trades. Not a bad loss average if that happened. Because the odds are in my favor, I’m leaving it alone till early Europe’s market open to see if it drops farther. Because if it drops farther I could take a 20, 30, 40... you get the picture. I can finish my trades with making more then I lost to begin with. That’s adding to my confidence and positive consistency in trading. If this happened to you earlier, would you have had the confidence and or conviction to try again after getting stoped out suddenly by volatility?? Would you, or do you keep statistics on trading setups / trade plans or strategies, in order to give you more convenience and or more consistent results? Would you have entered the trade the second time changing entry, stops, or just did as I did , same everything? Finally do you trade Every time you see your setup as your strategies say are the best to trade, or do you second guess the setup—only to see at times the trade leave without you? The goal is self improvement! By me posting this it drives the point home in my mind that I need reminders too. Hope this helps in a small way in your trading journey. In trading you either make dust or you will eat dust! Al the best. This is not trading advice. It is however a real experience in my trading day. Off to the next trade!
by PipsTradingClub
AUDJPY wedge play for 4/16-17/20Here is another trading snack! AUDJPY has created this really nice bearish wedge pattern. In my opinion there is two good ways to play this pattern. As always patterns can and often do break in the opposite direction from ones own analysis or market bias’s. Having said that, trade if you must with your own risk tolerances. ‘‘Tis also isn’t trading advice, but my opinion on how I’m trading this pattern. What I’d like to see is a retest if the upper trend line. It may or may not happen. I’ve set orders in the upper red box to go short with stops just over the red box. But because I suspect a break down in price. I’ve also set sell orders just below the lower red box, the one just under the lower trend lie—with again stops just over the top of that same red box. The green boxes are targets and TP zones. Ideally I’d like a retest if the upper trend line and then a break down to my lower orders. If that happens I’d move stops upon the lower orders filling to my upper orders if filled. Those stops would go to my BE point or my upper average price. Once price has moved another 20 pips or do I’d move all stops to my BE on total orders average price and wait on my targets. The strategy is to put on as many orders as my trade plan allows while limiting my risk, and while allowing for the market to move with breathing room to this consolidation pattern. In recap. The upper orders might not get filled. But a breakdown will still get me in on the idea. If the upper orders get filled but price action breaks higher, I’ve limited my risk to my accepted levels. But if the strategy goes as planed then this idea should double in size as far as trading lots, but limit my risk to a level as if I was only trading 1/2 the size in lots. As always, you either make dust in trading or you will eat dust! Again this is only an educational post on how I’m choosing to trade this idea. It is not trading advice! All the best in your own trades.
Short
by PipsTradingClub