Get started

Trading Plan

How to manage & deal with consecutive losses in trading ? Trading Psychology: How to manage & deal with losses/consecutive losses in trading ? Hi everyone: Today I want to go over a very key trading psychology lesson on how to deal with losses, especially consecutive losses. This is bound to happen to any traders, whether you are new or experienced. ITs something all professional traders will have to deal with on a regular basis. Understand that, dealing with losses psychologically is the key factor in the success of a trader. This is because losses are inevitable, and trading is a probability, which trades that you take will end up both in wins and losses. However, traders usually can not accept losses, due to their ego, greed and other emotional factors. Aside from having a good risk management, trading plan, and trading strategies, traders can still experience the psychological emotions of losing. This is due to the fact that we are humans and we are an “emotional” animal. We don't want to be wrong, at all. Taking a loss is like getting slapped in the face by the market, which we have egos to fight against. What ends up after taking losses or consecutive losses, it puts traders at a disadvantage where their emotion is high, and likely to “revenage” trade to chase back losses, which end up in a deeper hole. To deal with such psychological phenomena, take a step back and observe your situation: First, did you follow your trading plan/strategy on how to enter, set SL/TP, and management ? Second, did you take an emotional trade due to greed or fear of missing out ? Third, have you journal down your losses and review them to make sure they are trades you really want to risk your capitals on ? By now you will see why we need to review these. Trading is a probability, not right or wrong. It's a random variable that you are putting your $ at risk. So if you understand the rules and plans that you follow and execute a trade accordingly, then there should NOT be any negative emotions towards the outcome of the trades, whether they are winners or losers. When I discuss the trades I entered every week in my trade recaps videos, I am always happy to enter a position, even if it goes to a loss. This is because I have done enough backtesting, chart work, and plan to enter a position. I understand strictly from a probability point of view, I could have a higher strike rate, and more often the trades will end up as a winner rather than a loser. However, I also understand and acknowledge that some trades will end up in a loss, disregard mine technical analysis or other’s fundamental analysis. It is what trading is all about. When I have consecutive losses, I will always review the 3 points I mentioned above and make sure they are all valid for me. Then I simply will take 1 day off from the market, chart, phone, and just get your mind clear. Come back strong after 1-2 days of rest, and have a positive mindset. What traders often do when they have consecutive losses is to right away re-enter back into the market and try to chase back their losses. This has always been the downfall of losing and it creates anxiety in traders’ minds. Such a negative experience is going to stay in the traders’ mind longer and deeper, compared to consecutive winners. So wise we understand that is the case how our brain is "programmed” into thinking, then it's up to us to do the opposite, and fight the urge to “revenge” our losses. At the end of the day, no one is trading your trading account, except yourself. Taking ownership of your account, learning to control our emotions, understanding the probability side of trading, and learning to let go, drop our ego will help us in the long run in this industry. I hope these pointers can help some traders who are still struggling with this concept. It's impossible not to take losses, but professional traders deal with it on a regular basis and still remain consistent in the long run. Thank you I will forward some Trading Psychology educational videos below on some of the topics explained today. Trading Psychology: Revenge Trading Trading Psychology: Fear Of Missing Out Trading Psychology: Over Leveraged Trading Trading Psychology: Is there Stop Loss Hunting in Trading ? How to deal with it ?
BITSTAMP:BTCUSDEducation
by jojofang0901
58
TradingView: Look first / Then leap.Every once in a while you have to commit to something that pushes the boundaries of your comfort zone — that gets your heart beating, the breath shaky and palms sweaty. For us, that’s this moment right now, where we share with you the efforts of a project that’s been a long time in the making. It’s with great pleasure that we present to you the new look and feel for TradingView! Our mission has forever been: Always an informed decision. That it doesn’t matter who you are, where you’re from or what your risk appetite is, everyone is entitled to the right tools and the right information to make the best trading and investment decisions possible. Now, to articulate that ambition more evocatively, you’ll see us using the concept Look first / Then leap . We think this sums up what TradingView is all about — there’s no point jumping blindly into trades (that’s why you use charts) but at the same time you don’t just do 100% of your analysis just for fun — there’s got to be some commitment required. First you prepare, then you go for it: Look first / Then leap. We will be sharing updates all week about our new look and feel. You'll also have a chance to meet our sponsored sports stars including the legendary free soloist featured in this video Alex Honnold , renowned free-skier Caite Zeliff and adventurer Leo Houlding . Thank you for being a member, sharing feedback, and working your hardest to become the best trader or investor. This is a monumental day in our history together.
NASDAQ:TSLAEducation
by TradingView
167
The Lack of Knowledge in Forex - How to succeed in this businessThere is a big lack of knowledge in this forex industry. Retail Trader always forget that we are in the Champion League here and that we need to have a lot of knowledge in order to succeed. Key Elements are - Trading Plan - Strategy - Money and Risk Management Predicting the right direction of the forex pairs is not to 100% possible and not even necessary. The key is to understand how to react to the new changes within the market. It is like in life. Hopefully I could help you with this video. Tell me your feedback What do you think?
Education
by DariusFxTrading
4
Introducing our new Chart Preview featureOur new Chart Preview feature simplifies the way you follow your favorite symbols from iPhones or iPads. Please note: we have exciting updates coming to our Android app, so please stay patient. We won't let you down! 😎 Chart Preview is intuitive for all investors and traders. Beginners and pros can use it seamlessly to study their watchlist and then dive into the advanced chart when it's time. We created Chart Preview to let traders quickly scan and study symbols from a viewpoint that is simple and beautiful. With a second tap, traders can dive into the advanced chart and begin their research process using technical and fundamental analysis. Start simple and get more advanced depending on your skill level. On iPhone, users can toggle our new Chart Preview feature on or off depending on their preference. You decide whether you want to see a quick preview or jump straight to the advanced chart. We know many of you would rather be analyzing charts with all the power of our advanced tools, so you can decide what you would rather see first. Make sure your app is updated and using the latest version. Remember: our mobile apps are free for iOS and Android devices. Thanks for being a TradingView member and we look forward to reading your feedback and comments below.
NASDAQ:AAPLEducation
by TradingView
91
How to Determine Market Direction Using Multiple time frameIn this video I try to explain the best way to determine market direction. Define a uptrend--- Series of higher highs and higher lows In an uptrend your goal is to buy from a support and form a new higher high In order for you to buy from a support, your lower timeframe must be in a downtrend Define a downtrend--- Series of lower highs and lower lows In an downtrend your goal is to sell from a resistance and form a new lower low In order for you to sell from a resistance, your lower timeframe must be in an uptrend Avoid using historical levels to fight market direction If you can keep these rules, you will always be safe. Few is always more Thank you and trade safe
Education
by Data_Block
12
Power of compounding interest, but why do traders still fail ? Hello everyone: Welcome to this quick educational video on Compounding interest in trading. Today I want to break down the benefits of compounding a trading account while keeping good risk management at bay. The reason why compounding interest is so lucrative is due to investing interest on top of interest, and your trading account can grow much faster than traditional investment returns. The important note is that, by having strict risk management rules, proper trading plan, the account can grow over time. But why do many traders fail to do so ? Let's take a deeper look into this: Many new/beginner traders often get involved in trading due to its profitable potential. However, most of them do not learn about risk management, trading psychology on mindset and emotions. They tend to over trade, over leverage their accounts in hope to double it in a short period of time. This almost always leads to traders to blow their accounts, and re-deposit more money to “chase/revenge” their losses, and the cycle continues. The truth is, growing the account by compounding can eventually double a trading account, but only in time and with strict risk management rules. However, the greed, emotion and mindset often become the tread stone for the traders’ success. It's important to understand that having a consistent, sustainable approach in trading can lead to profits and growth over time, but it's not something that is instantaneous, which is what most new/beginner traders often misunderstood. This can be due to social media, and lots of typical trading “guru” out there promising guaranteed results and easy money. Take a step back and think about compounding interest in time and scale. 5-7.5% return per month may not seem much for a small trading account, but it is sustainable and consistent by not over-risking and over-trading. In time when the account is at a larger scale, a few % return with compound effect in a year can generate very sizable return and growth. In today’s trading industry, there are many prop firms out there that allow you to trade their funds, if you can be consistent and sustainable. Understand these firms are not looking for traders to double their larger capital, rather, to have consistent return and proper risk management. When you can prove you can be consistent to compound a small account, then when you actually do trade a larger account, the % return would be the same. Last Note: Build up the right habits from the start. Your job in the beginning of trading is not to make massive returns, rather to focus on risk management, control emotion, and understand trading psychology. Once all these are checked, then you will be miles ahead of other traders who are still struggling to understand the concept. Any questions, comments or feedback welcome to let me know. Thank you Jojo
BITSTAMP:BTCUSDEducation
by jojofang0901
149
3x ETF SOXL vs other 1x semi ETFs over various time horizonsI compare SOXL returns with SOXX, SMH, and PSI, all ETFs in the semiconductor space. CONCLUSIONS AND FINDINGS: YTD 2021 SOXL has not provided any net benefit over it's peers. And if you use stop loss orders you've probably lost money on it due to its extreme volatility. Smaller quant ETF fund PSI is the better performer on most/all time horizons YTD or more recent, especially from a risk/reward perspective. Only when comparing SOXL against the others on a time horizon of 1 yr or longer does SOXL outperform it's peers. Importantly however, charts mimic real life only to the extent we make the purchase the entire position at once and don't touch it over the entire time frame. But this is not what most traders do. Thus, I recommend holding SOXL only if you're going to buy it and not set any stop loss orders, touch it, trade it, or even look at it for a year or more. But you probably can't handle that. I can't either. Thus the better, more realistic strategy for most traders is to get PSI or one of the other primary ETFs covering this space.
NASDAQ:SMHEducation
by theagileagent
How to Trade Price Action Daily!Hello Fellow Traders, Here is a Educational Video (How to Trade Impulse/Correction/Impulse) . Key things to Remember: When Trading This Type Of method - You Should Always have an Open mind when it comes to "Where the Market will Finish The correction" The Strongest Levels of Fibonacci is the 61.8 & 38.2 (These Are Generally the levels that the Market Loves to Finish its correction) The Best way to follow This Method is if the following conditions apply. Conditions - 1. Look & Find a Big Impulse On bigger Timeframes (Weekly, Daily or 4Hours) 2. Wait for The Market to Finish its Impulse (You will notice the market starts to move the opposite direction to the original Impulse) 3. Pull Your Fibonacci From The Start Of the Impulse to the End of the Impulse Aka ( From high to low = Sell OR Low to High= Buy) 4. Be Patient and wait for the Market to Reach the Aka Strong Levels (61.8 Or 32.8) OR Which Ever is Better Align With Good Structure! 5. Once you Have a smaller Timeframe break of structure or Momentum Change (You will look for an Entry Based on Market Environment + Structure) 6. Enter Your Trade Preferably of 1hOur Or 4hour Timeframe (whichever has given confirmation mentioned in point 4) 7. Always Use Risk Management / 1% Risk to Trade Entries using this Method 8. Patience is the Key to Success! Let Me know if you have any Questions or Comments Below! Your Support Is Appreciated! Happy Trading & Goodluck! See You in the Next Educational Video! Global Fx Education
Education
by Global_Fx
How to identify a correction for the next impulse move ? How to identify if a correction is finished/completed and ready for the next impulse move ? Hello everyone: In this educational video I will go over how to properly identify a correction in price action analysis. I recently made a price action workshop live stream video that went over everything on impulse - correction, structures/patterns, continuation and reversal corrections, but I still get a lot of questions on identifying corrections itself. How to draw, use the trendlines to identify a correction, and how to understand they are going to complete/finish. In my opinion this is the most important part in technical analysis. We need to understand that the market moves in phrases, it can only be in the impulsive phrase or corrective phrase. The key to trading is to understand when a correction finishes, we are going to get the impulsive phrase which will give us traders a better edge in the market to enter, where the momentum is strong. I have made many educational posts on price action analysis, specifically on continuation or reversal correction, which I will put the links below. Any questions, comments, or feedback welcome to let me know. Thank you Jojo Price Action Workshop www.tradingview.com Impulse VS Correction Continuation and Reversal Correction Multi-time frame analysis Continuation Bull/Bear Flag Reversal Ascending/Descending Channel Reversal Double Top/Bottom Reversal Head & Shoulder Pattern Reversal “M” and “W” style pattern Reversal Impulse Price Action Expanding Structure/Pattern
BINANCE:BNBUSDEducation
by jojofang0901
62
Risk Management: Entry in the impulsive phrase of price action Hello everyone: Welcome back to another video on risk management. Today I want to discuss a few possible entries that we can do in the market when we spot the next impulsive phrase of the market condition. I will break down the 3 types of entries that I always look for when I am about to execute a trade. Sometimes we will see all 3 entries present themselves, and sometimes we might only see 1 or 2. So let's dig into these entries. All entries are based on the continuation or reversal structure on the LTF mostly. So I need to see a LTF correction forming and potentially completing before setting any of these entries. In addition, they have to be aligned with the HTF overall direction and bias. Multi-time frame analysis is key. All my entries are stop entry order, meaning the market needs to hit a certain price before getting triggered. Buy Stop or Sell Stop order. You may see variations of these entries in different strategies or styles, but here are my take on them and my way of using them in my trading. Let me give a few examples of each on different markets and pairs to show the potential move and possible entry criteria. Below are same other Risk Management you should know in trading. Risk Management 101 Risk Management: How to set a Take Profit (TP) for your trades Risk Management: How to Enter and set SL and TP for an impulse move in the market Risk Management: How to scale in the impulsive phrase of the market condition? Risk Management: Combine everything you learn to prevent blowing a trading account Impulse VS Correction Continuation and Reversal Correction Multi-time frame analysis
OANDA:XAGUSDEducation
by jojofang0901
24
Does news events affect price action analysis in trading ?Hello everyone: Today I want to discuss news events in trading. Often when a news event comes out in the market, we get some sort of volatility and we get a strong spike/impulse. However, does news events affect our ways of understanding price action analysis ? Let's take a look at a few examples of the recent FOMC volatility that happened in the forex, indices and commodity market. Most of the market had a sharp quick move to one direction, hinting a sign of weakness in USD/JPY..etc. However, all of them ended up with a reversal impulse, and recovered all the price from the volatility. So, what can we take away from this ? News certain creates volatility, but not the overall price action trending direction. We may get a temporary short term move, but eventually the market recovers it, and resumes its original direction. Often beginner/newcomer traders will try to “jump” onto the news momentum, but usually end too late, and they will take a BE or losses. We can not control the outcome of the news or whether the news will be positive or negative towards our trades, but what we can control is our entry, SL, TP, risk management, emotions and mindset. Any questions, comments or feedback welcome to let me know :) Thank you Jojo
Education
by jojofang0901
18
Expanding Structures/Patterns in Price Action AnalysisHello everyone: Welcome back to another price action structures/pattern educational video. Today I want to discuss the expanding structure that I always see in the market. These structures/patterns are a bit more advanced, as they are not so clear on whether it's a continuation or a reversal correction. Lets dig into some typical forms that I always see in the market, and discuss the possible opportunities we can get from them. Expanding structure can come in all sorts of sizes and shapes. They are not the typical channel, flag, pennant/triangle, Head and Shoulder that we usually encounter. The key here is to identify them and observe if we are going to get trend continuations, or trend reversal after the correction finished. Any questions, comments or feedback welcome to let me know below. I will include all other types of price action structures/corrections that I have discussed in the past below, for everyone’s references. Thank you Jojo Impulse VS Correction Continuation and Reversal Correction Multi-time frame analysis Continuation Bull/Bear Flag Reversal Ascending/Descending Channel Reversal Double Top/Bottom Reversal Head & Shoulder Pattern Reversal “M” and “W” style pattern Reversal Impulse Price Action
BITSTAMP:BTCUSDEducation
by jojofang0901
41
Rolls Royce Trade Review - 20% profit in just 3 weeks!Hi traders, This is the first in a series of trade reviews that I will be doing for TradingView viewers where each week I will review one or two of my trades. We will outline why we entered them and also how they went. This is meant only for educational purposes for you to learn some of the skills that I implement when trading. In this trade I used a very simple break and retest of a key level as the investment strategy. If you have any questions then please let me know in the comments.
LSE:RR.Education
by JoelWarby
3
Trading Strategies and Style - Price Action Analysis Hello everyone: Recently I have many newcomers/subscribers/followers on my various channels and platforms, so I want to make this video to summarize what exactly are my strategies and style in trading. It's important to understand everyone trades differently, and different styles and strategies. What's more important is to understand if the strategies and style work for you and you only as a trader. Does a typical style/strategy satisfy your vision in trading ? Does the risk/reward make sense to you as a trader ? Does the trading plan and management sound feasible and realistic to you ? Do you have the right mindset and emotion when it comes to trading these types of strategies and style ? These are the questions to think about when you are serious about trading. So, let's take a look into how I trade and what are the key important aspects that I look for in trading. -Price Action Analysis -Impulse VS Correction -Continuation VS Reversal Correction/Structure -Multi time frame analysis (top down approach) -Risk Management (3:1 RR) -Trading Psychology (Mindset and emotion) (FOMO, Revenge Trading, Over Leverage Trading) As always, any questions, comments or feedback welcome to let me know. Thank you Jojo
Education
by jojofang0901
25
Crypto backtesting and chart work in price action analysis Hello everyone: Today let's do some backtesting and chart work on the crypto market. I have done similar videos on Forex and Indices’ market, and I want to do one as well for crypto to showcase price action that will happen in any market, any time frame. Make sure to check out the below videos on why I backtest and do chart work. This is to help us to get better at trading as a whole, and remove emotional decisions. I will dig back some crypto pairs and look at the bullish impulse on the HTF, and go down to the LTF for confirmation and entries. Any questions, comments, or feedback please let me know :) Thank you Jojo Backtesting & Chartwork on Forex Market Backtesting & Chartwork on Indices Market How & Why I backtest: Prevent Blowing an account by backtesting:
BINANCE:ADAUSDEducation
by jojofang0901
39
Reversal Impulse Price Action - Trend Change Confirmation Hello everyone: Welcome back to another price action structures/patterns video. Today let's take a look into the reversal Impulse price action from the market. I have back tested and seen these types of price action happen very often in any market, any time frame. Its signaling a very strong trend change and reversal momentum from the price. Let's take a look into what it looks like usually, and how to effectively take advantage of these types of price action in the market. Seeing them on the HTF, giving us strong bias for a reversal trend change coming. Seeing them on the LTF, signs of reversal from the LTF first, and leading towards the beginning of the HTF reversal move. Remember, Multi-time frame analysis is key. If we spot a potential HTF reversal impulse, then likely LTF price action is also showing reversal price action structures/patterns. We want to pair as many positive confluences as we can together to give us an edge entering the trades. As always, any questions, comments or feedback please let me know. Thank you Jojo
OANDA:US30USDEducation
by jojofang0901
39
Is there stop loss hunting in trading ? How to deal with it ?Hello everyone: Today I want to discuss a common discussion about new and experienced traders. “Is there stop loss hunting in trading?” Many wonder, since they can all recall the moment where price just hits their SL on a trade, and then the market quickly turns around towards their desired profit direction. I want to dig deeper into this and explain it with different viewpoints, from a technical and psychological view. The vision I am trying to provide is that, thinking about is there stop loss from the brokers won't help you to get better in trading. It's a mindset thing we need to understand. For example, whether there is or isn't a stop loss hunting, it's nothing you or I can change or control. It is what it is. However, if you understand this, then it's about adjusting your plan, strategies and trading style to these types of volatility moves and come up with the correct mindset to work around it. Technical part: More often, people set their SL and see their trades get taken out just a few pips above before reversing the opposite way. Dig deeper into this. Is it a fake breakout, is it just being impatient and jumping the gun? Is there LTF continuation/reversal correction that gives you bias to enter a long/short ? Is your analysis aligned with the higher time frames ? Many factors on why a trade is at a loss, no need to jump right into a conclusion that it's the broker who is stop hunting you. This is why we always look for confirmation and confluence when we enter trades. Just because the price breaks the support and resistance line people often use, it's not an automatic buy or sell. Same goes with trend lines and other indicators people use. We need to confirm it with price action. After an impulse phrase, was there a continuation correction phrase? If not, then it doesn't justify a buy entry. This is also why we backtest so we see these types of price action often, and acknowledge what we need to do in order to work our ways around it. Psychological part: When traders take a loss in this way, hitting the SL and reverse, this creates a negative emotion in them. They often get frustrated and upset, hence in human nature, we tend to blame others. But take a step back and understand this: The market can do whatever it wants to do. Most beginner and newcomer traders think the market MUST follow their strategies and style. If it doesn't, then something is wrong with the market, the brokers, their mentor/coach, their strategies...etc. This negative mindset needs to change. First of all no strategies and style will promise you 100% strike rate and profit. Any strategies you take will incur a loss, it's how you deal and manage it that will show you as a consistent or inconsistent trader. Second, if you have experienced several losses due to the “Stop hunt” in your own mind, then instead of blaming the brokers or the markets, start looking into your trading plan and management. Are you experiencing FOMO ? Are you over leverage trading, and revenge trading ? Are you taking into consideration your risk management ? Entry, SL/TP, how much to risk ? Is it consistent with your plan ? These are the things you can control, rather than external factors which you can not. Adjust yourself. Third, remove your negative emotion from your losses. Take it as a learning curve and experiences earned. Then the next time you enter a trade, you will remember the lessons that were taught to you by the market. This is why we journal our trades so we can look back at them and understand what we did. I hope these few pointers will help some of you to get back on the positive direction of trading. No need to think and get upset if there is a stop hunting of your trades. Instead, use that towards your advantages. If you consistently see a false breakout and reverse, then come up with a strategy and plan to capture that reversal move. No need to blame the market or the broker, that is something you can not control. Jumping brokers to brothers simply won't help you to eliminate that psychological mindset of a stop hunting. I will put below several other educational videos on the topic we discussed today. As always, any questions, comments or feedback welcome to let me know :) Trading Plan: Risk Management: Trading Psychology: FOMO: Revenge Trading: Over Leverage:
BITSTAMP:BTCUSDEducation
by jojofang0901
68
Risk Management: How to set a Take Profit (TP) for your trades Hello everyone: Today let's dig into an important topic of setting a Take Profit (TP). While many traders will often have different strategies and methods on a TP, let's take a look on my approach and style on this. ITs important to understand there is no right or wrong when it comes to setting a TP. ITs what you have in your plan and what makes sense to you as a trader. It should align with your strategies and trading style also. Some may take profit quicker and move on, while others hold for longer term. Understand that both methods can have drawbacks, it's what trading is, double edge. So, make sure we follow our plan and executive accordingly to our management. Otherwise we are just making emotional decisions again. Let's look at a few scenarios on how I would set a TP. Directly tie in TP is a SL. I usually will only enter a trade if I have 3:1 RR. Meaning risking 1% to gain 3% or more. Therefore my TP will almost always be 3 times of initial SL amount or room. Few TP scenarios: -Beginning of the the previous correctional structure -Double Bottoms/swings low area, watch for LTF reversal price action and correction When price breaks ATH, monitor the price action on the LTF for bearish reversal. I would want to see a trend change, rather than a pullback. Few things to consider: -Understand you will never enter at the lowest point, and exit at the highest point Make sure you have a plan before so you will not get into an emotional decision. Always know what you plan to do before it happens. No Right or wrong as long as you follow your original plan. You can of course in time modify your plan based on market conditions. Any questions, comments or feedback please let me know :) Thank you
OANDA:XAUUSDEducation
by jojofang0901
27
US Indices Backtesting and Charting Session On Price Action Hello everyone: As promised I will periodically make these backtesting/chart work videos on different markets, pairs and timeframes. This is for me to present the importance of backtesting in trading consistency. Not only it will help traders to not have emotional decisions such as FOMO or fear of losing, it will give traders confidence at identifying trade opportunities and execute them when the time comes. The more we do backtesting, the easier we spot an entry, setting a SL/TP, and remove any emotional decisions. Today I want to go into the US Indices, specifically the SPY, NASDAQ, DOW. I will pick a few market crashed examples and dig deeper into them. Few educational videos below on the topic of backtesting, and why it will help you in your trading journey. How & Why I backtest: Prevent Blowing an account by backtesting: Backtesting & Chartwork on USDCAD: Any questions, comments, or feedback please let me know :) Thank you Jojo
OANDA:SPX500USDEducation
by jojofang0901
20
Make profitable trading decisionsHi Fellow Traders The greatest tool in your arsenal is your Risk/ Reward rules when evaluating the potential expencency and outcome of each scenario. By using this to protect your account it may help you to survive long enough to be profitable. Risk/ reward is quite simple. If I risk $1 on a trade, I need to make on average $1.50 to be profitable. In other words, my risk is 1 and my reward 1.5, therefore it is a 1:1.5 risk/ reward ratio, which is acceptable to potentially enter a trade if it meets your criteria. You want to try an average between 1:1.3 and 1:1.7 when looking for trade opportunities. The Risk/ reward tool on Tradeview is excellent for evaluating and getting a proper picture of the potential upside and downside before making a decision. I hope you enjoy the video and that I have been able to contribute to your potential success as a trader. Please feel free to comment and reach out if you help. Regards Wayne_G
Education
by Wayne_G
1
Detail look into “M” & “W” Structures/Patterns in Price Action Hello everyone: Welcome back to another price action structures/patterns video. Today let's take a look into the “M” and “W” style structures/patterns. Many traders may use these types of structures/patterns in their trading plan/strategies. Let me show you guys my interpretation of them, and how I utilize them in my trading as well. It's important to understand many of my previous price action analysis, structures/patterns videos all tie into this one as well, I will put those links below. Essentially, a “M” or “W” style pattern is a double tops/bottoms pattern that appears mostly towards an end of a run of the current price. They are “reversal” price action structures/patterns. They are most effective when we tie in other price action structures/patterns with it. Let me give multiple examples of these structures/patterns in different markets and time frames. “M” Style Pattern -Double tops structure after price failed to continue the first initial push down. -Top of the Right M, needs to have a reversal structure on the LTF or smaller time frames (ascending channel, H and S pattern..etc) -Can either enter at the breakout of the reversal structure or the first correction after the impulse down “W” Style Pattern -Double Bottoms after price failed to continue the first initial push up. -bottom of the Right W, needs to have a reversal structure on the LTF or smaller time frames (descending channel, Inverse H and S pattern..etc) -Can either enter at the breakout of the reversal structure or the first correction after the impulse up Double Top/Bottoms: Ascending/Descending channel: Head and Shoulder Pattern: Continuation/Reversal Correction: Multi-Time Frame Analysis: As always, any questions, comments or feedback please let me know. Thank you Jojo
BITSTAMP:ETHUSDEducation
by jojofang0901
35