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Plan

Why Do We Need A Trading Plan?As an analogy, when we drive a car on the road, we must constantly abide by traffic rules in order to harmonize certain behaviors for every situation we are faced with. From stopping at a red traffic light, slowing down when at a pedestrian crossing, use snow chains in certain weather conditions, etc. On top of that, since trading is such a mind game that involves money on the line, it can be very draining for one’s brain and cause irrational decisions without a plan of action. This is yet another reason why you want to be absolutely 100% certain of how you will proceed in each and every one of the thousands and thousands of situations you will encounter as a trader. We must avoid by all means disorder from dominating our trading. After all, lack of discipline and inconsistency is the number one enemy of any trader. The saying “if you fail to plan , you’ve already planned to fail ” couldn’t be truer. Trading is a business, so it must treat it as such. The mastery in becoming mechanical on your trading actions is directly linked to your chances of success. When we drive our car, our behavior cannot deviate from the very rigid traffic rules or we might get ourselves in trouble, right? You must think about trading in the exact same manner. But this time, the ball is on your courtyard, you have absolute control. 1. Why Do You Trade? 2. Define Your Daily Routine 3. Describe Your Entry & Exit Strategy 4. Trade Management 5. Review Trades & Keep A Journal
BITSTAMP:BTCUSD
by Trade-Technique
21
TSLA where to next? retracement at 650+ or pullback retrace 600where will tesla go next? retracement zone at 600-650, and 650-700. Could also break above 700 and trend higher but with stimulus checks falling through I doubt it will spike. We're just hoping it doesn't sell off come monday dec 21 aka sp500 inclusion date. My take is this. Tesla has spiked up rapidly due to the index buy up. come monday all the short term traders will dump their positions. massive selloff possible, with a correction upward possible when the long traders see a bargain post sell off. trade accordingly. good luck.
NASDAQ:TSLA
by miltonlegendaryxoxo
1
#BTC #Bitcoin AnalysisFollowing the breakout of the bullish triangle at the $ 19,500 level, it reached the top of the channel at $ 23,650, where it was rejected forming a descending triangle pattern, which has been broken to the upside. In turn, a small bullish channel (light green color) has been formed driven by the support of the 50 moving average in 1 hour ranges, which has been rejected a moment ago, next to the support of the range $ 23,200 - $ 23,300 . The price may lateralize a bit as an accumulation process before continuing with a new rise and another retest of the upper part of the external bullish channel (light blue color). Likewise, be careful with your risks, the market is volatile, and every big bullish move has its correction.
Long
by jumperstars
EURNZD - Daily Outlook for Dec 2020FX:EURNZD This is my daily outlook for EURNZD for Dec 2020. Trades will be executed according to confirmation on 4H and 1H Time Frames. Following scenarios are expected and planned for Dec 2020: Scenario 1: A close below this daily candle could trigger a bearish momentum to retest the lows 1.6980 and form triangle of love and possibility of continuation. Scenario 2: Support creation above 1.7340 level (Resistance Zone) will confirm bearish trend weakness and possibility of reversal higher Resistance zones. Putting in consideration: Monthly Close : Bearish Weekly Close : Bullish Daily Close : Bullish 4H : Solid Up Trend 1H : Solid Up Trend Notes: - From previous monthly candle close, current move from Dec 1 could be the monthly candle bearish wick for HTF bearish trend continuation. - Dec from historical data is a reversal month, so putting in consideration the current bullish momentum could lead this month to close bullish.
by Amr_Sadek
Big impulse wave ON BTCHello, this is Night.CXX CUMFYSEPIPIE! admin this is my trading view account. If you are foolish enough to know this is the next big money play as it is finally happening!!! THE ATH RUN RETEST!! IT IS LITERALLY CONFIRMED AND YOU ARE STUPID LIKE CHONKY IF YOU SHORTED THIS! FUCK YOU CHONKY!! YOUR RETARDED!! GO SHORT YOURSELF! ok! But anyway yea we stop run retesting it! This is not a fairy tale we won't just burst through this like it's nothing! IT'S ATH and I will hedge when it's there. I expect a huge stop run down if that even breaks it again.
Long
by lanbill30
EURUSD - sell before the buy Bit late to the party with this one although still a good few pips to grab before we get into a holding position. 30 pip SL takes us to a nice resistance area so if price pushes back up there then so be it. You can see overall we expect price to reach this bullish trendline which crosses nicely with a daily resistance level so from there we will look to take a buy position. RR 30 pip SL with a 90 pip gain on this sell. Then buy positions we will update when the time is right.
Short
by UnknownUnicorn6441570
PLAN Triple Bottoms (bullish)I found this pattern at tickeron website with the following data: STATUS = Confirmed CURRENT CONFIDENCE = 79% TARGET (EXIT) PRICE = 60.34 USD BREAKOUT (ENTRY) PRICE = 58.55 USD DISTANCE TO TARGET PRICE = 3.19% EMERGED ON = Sep 17, 08:00 AM (EDT) CONFIRMED ON = Sep 21, 12:27 PM (EDT) WITH CONFIDENCE LEVEL = 90% The Triple Bottom pattern appears when there are three distinct low points (1, 3, 5) that represent a consistent support level. The security tests the support level over time but eventually breaks resistance and makes a strong move to the upside. This type of formation happens when sellers can not break the support price, and market participants eventually pour in. Trade idea Once the price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a security or a call option at the breakout price level. To identify an exit, compute the target price by adding the pattern’s height (highest price minus the bottom price support level) to the breakout level ­ the highest high. When trading, wait for the confirmation move, which is when the price rises above the breakout level. To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price.
PLong
by AlTorress