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Review of CADCHF last week two out of three hit target 🎯💲🏦Hello Traders Hope Sunday and the much needed rest is treating you all well. I spend parts of my Sunday looking back at the prior trading week. In doing so I've decided to share some ideas on completed trades and the methods I trade our script. Going forward during the week I'll look to post more live ideas as our script present them on the charts. At weekends I'll use time to review trades I've enter in order to shed more light on my methods. Here we are working the 30M time on CADCHF. I have the strategy in use set to a risk reward ratio of just over 1:2. Last week we had three trades of which two hit the take profit target set. As you will see from the chart I simply enter the trades that present on the chart and get on with rest of my day! I have a TradingView alert set to inform me of a new trade. These trades took me minutes to place, the two trades played out over a 32 hour period banking 57 pips! I simply wait for the next alert now which might be some time next week. Our strategy is a trend following strategy, can be used on any instrument and time frame. When all confluences are met the strategy presents the trade on the chart. I am alerted to this by a TradingView alert. I simply enter the trade and all of the trade data is printed next to the alert. Take profit and stop loss are set and I simply follow the trades outcome. The script runs on your TradingView charts and can be used on forex pairs,indices, stocks and crypto. The script can also be adapted to run on the charts to suit how you trade. The script removes all need for manual trading analysis freeing up so much more time. One of the most valuable tools the script possesses is the built in strategy tester. Once I have selected an instrument and time frame to work. I adjust the strategy settings and back test those settings until I find the best settings to then go and place trades on the market. For the pair in question here the back test data can be found at the foot of this idea. I started trading CADCHF in this manner back in July. The back tester data shown is from January 2020. This level of data allows our traders to build robust trading plans and strategies. No one can predict the future but this data does help with confidence and removes negative emotions we have all suffered while trading. Working to rigid planned trading strategies removes all uncertainty around entering trades. For this pair I know the pair has a ROI of 63% and a win rate of 44% based on 109 trades of data, risking 1% a trade on £1000 starting capital. When I enter trades I simply let them run knowing the back test data backs up this method of trading works. The old me would of regretted the last trade seeing an initial 15 pip gain disappear on the retrace into a negative. But having a roust proven strategy to stick too I know let trades run and in this case to a take profit hit. The old me would of dipped out and lost out on that profit. This mechanical way of trading doesn't even see me looking at the charts much other that to place trades and write ideas! Make 2021 the year you spend less time at the charts! To learn more on the methods discussed please drop me a message.
by RichScott
GBPNZD short trade on the move ↘️✅📉Hello traders. Before I logged off for the day I just had to get this idea out for GBPNZD short trade which has made the right move so far. This pair got me an editors pick on a previous idea and as a results holds good vibes for me. That idea can be found in the link at the bottom of this. We are working the 45M chart here using our strategy is set to a 1:1.7 risk reward ratio. The strategy in use simply sits in your TradingView and can be set to how you want to trade. The strategy is a trend follow strategy and we simply enter trades when they are alerted to us. In this case I am working to a take profit target of 113 pips and have a stop loss set at 60 pips. How do I know this method of trading employed works on the pair in question? The strategy we use comes complete with a built in back tester. The way I have the strategy set up to trade this pair I know from the back test data the pairs past performance trading in this manner. That data can be found at the foot of this idea. Data is based on £2000 starting capital with 2% risked. The data tested is a full years worth of data but can go back further. Having the data of 83% profit and 48% win rate based on 86 previous trades gives me great confidence to go and execute trades in the market place using the strategy I have applied. I don't recommend jumping on random trades found on TradingView as that is no clear trading plan and consistent results wont be achieved. Instead take the time to press the sub menus on the data show below and noticed how every trade is also logged and accounted for by the tester. It's this level of clarity and having a robust trading plan that gives consistent results. For any more information on the strategy in use please feel free to drop me a message.
Short
by RichScott
EURUSD long trade valid ↗️✅Hello traders Our strategy says it's go long time on EURUSD. The strategy we use is a follow trend strategy and with our strategy you simply execute trades when the script presents them on the chart. No technical analysis needed. No excessive chart time required. We just simply follow the strategy. The strategy itself is based on 4 individual strategies all lining up for extra confluence. The 'BUY' or 'SELL' is indicated on your chart and all bars will turn green or red depending upon the trend in play. For the trade in question we are working the H1 chart. We are working to the take profit value that has been printed on the screen. With the stop loss value also set. With the strategy set this way for the pair and time frame in question we are working to a risk reward ratio of 1:5. At the foot of this idea is the back test data for trading the pair in this manner from January 2018 to now. Having this level of data at our disposal thanks to the built in strategy tester enables our traders to confidently test potential strategies before entering the markets. I don't recommend jumping on random trades you see on TradingView as you are not working to a consistent trading plan with a clear edge. For any questions on the strategy in use on this idea please feel free to drop me a message.
Long
by RichScott
What is a short squeeze? How to trade a short squeeze?What is a short squeeze? A short squeeze is a short period when the price of a security increase rapidly due to the demand greater than the supply available for that security. A short squeeze is due to short-sellers covering their positions and long traders looking for a bargain. How to trade a short squeeze? A common shape of a short squeeze is an "inverted J" shape. The straight-line of the inverted J pattern is due to aggressive buying by the bargain hunters and short sellers covering. The hook shape of the inverted J is formed due to the profit-taking of the short-term traders. A trader can trade in the direction of the "inverted J" shape. What are some of the reasons one may fail to trade this pattern? Possibly due to failing to identify a correct bottom before placing a trade. Possibly a temporary bottom was identified, but the downtrend continued and trapped the traders. Thank you for reading! Greenfield Remember to click "Like" and "Follow!" Disclosure: Chart interpreted and article prepared by Greenfield. A market idea by Greenfield Analysis LLC for educational material only.
BITSTAMP:BTCUSDEducation
by GreenfieldAnalysis
8
EDUCATION: Money Flow Index (MFI)Hello, dear subscribers! The topic of this article is Money Flow Index Strategy (MFI). Definition This is the oscillator type indicator, which looks like RSI, but takes in account the volume. Thus it demonsrates not only the price momentum, but also the money volume. It is calculated as a ratio of the positive or negtative money volume divided by the total money flow. MFI indicates the overbought and oversold conditions. The asset is overbought when its value is above 80 and oversold, when below 20. The strategy Let's take a look at how to execute the long positions. Initially we should make sure that the market is in global uptrend now. For this purpose we will use the 200 period SMA. If the price is above the SMA, which has a positive slope the market is in uptrend now. The second step is the bullish hidden divergence identification. As we told in the previous education article the hidden bullish divergence with the oscillators means the uptrend continuation. The third point of this analysis is that the asset now is in oversold zone according to MFI.
Education
by Skyrexio
Trading strategy update - end of 2020 >> REVIEW OF PERFORMANCE This is an update to my trading plan set out a month ago - Plan for December 2020 to April 2021 . I set out these targets: Add funds month on month - disposable income only Monitor trends, but stop trying to snipe tops/bottoms Maintain a watchlist and a few good sources Enter positions only on good setups Keep position sizes small and only risk 1x position on 1x idea Sell at pre-determined levels Use micro positions on Uniswap >> UPDATE WHAT'S GOOD I'm adding funds every week - a certain % of my income. I'm also adding larger chunks where I can afford to based on my household budget, but these are strictly sitting in cash or USDT, not going straight into positions. I'm trying to stop getting lost in the Twitter chatter and focus on the macro trends. This has actually improved my trading. I've been looking at AltcoinSherpa's excellent videos on Bitcoin dominance and macro market analysis, to widen my perspective. As a result - I didn't enter any big alt positions, I kept a BTC position running, and managed to scalp SushiSwap run before correction. I'm depending far more on my own analysis for the first time, rather than Twitter traders. I've been doing my best ever setups and managed to enter NYSE:IPOC NASDAQ:INAQ NYSE:GIK based on reading the charts and setting sensible bids. I'm really enjoying the way these positions are building! I'm showing discipline with my position sizes. Right now they're all just about equal and I'm not over-exposed to any one asset - whether it's a SPAC or a cryptocurrency. In time, this will change but for now, it's totally uniform. This also allows me to better manage my cash reserves - for example, right now in my equities account I've got funds for 3 more positions. The only position I sold this month was NYSE:CRM . I feel sure this will have a run very soon, but I'm content to miss it and repurpose that position towards a SPAC - looking for an entry on NYSE:IPOF . I just think it has better upside, lower downside. WHAT'S NOT PERFECT YET I set up a series of watchlists but quickly realised that I'm not going to have the time or the discipline to check 30+ charts every week. I'm making use of TradingView's alerts feature. It's obvious to me that just setting alerts on key support or resistance levels and coming back in a month will pay off in future and will 'let the market come to me'. I got cocky very quickly and started showing my portfolio to friends and being more reckless - then I entered NYSE:ATAC with no research and minimal TA. Sure enough, was my worst entry this month. Just goes to show how important it is to stay humble and emotionally disciplined. Keep trading private (except for fellow degens on Twitter) and keep emotions out of it. So I've banned myself from entering new positions for a week or so. I've pulled all my funds off Uniswap for the moment. That may change in the coming weeks or months, but I'm not happy with the lack of stop losses, the high gas fees and the peurile, gross culture that surrounds DeFi microcaps. I feel frustrated at not being able to get on top of this market. The fact is that I still can't figure out DeFi (beyond the DeFi majors) there is so much information out there and so much data to sort through. I'm hoping to improve on this in 2021. Any suggestions are welcome! >> PORTFOLIO ALLOCATION SPACs are my best performing positions at present - basically, they are a faster, easier alternative to IPOs and they're in a bubble. They offer downside protection if you can buy them at $10, so my strategy is to buy in at $10-12 and then ride them to $20-50 depending on hype and how price action develops. That's minimal downside, decent upside. For this reason I'm building cash reserves in my equities account, this is my focus until Q1 2021 and then I'll re-assess. It's a no-brainer for me (credit to SPAC Mikey for the inspiration). Crypto-wise I'm only on BTC for now, closely monitoring alts and looking for a market-wide move to the upside. I plan to scale in to DeFi majors over the coming weeks to months - BINANCE:YFIUSDT , BINANCE:SUSHIUSDT , BINANCE:DOTUSDT and BINANCE:AAVEUSDT . For now I am watching and waiting with crypto - what I've found is most people scale into alts far too early in the crypto space due to confirmation bias - they love alts and never seem to trade other markets so they can't see the wood for the trees. It really skews your perspective to only trade one market as a trader and this is my biggest regret from 2017/18, so I'm making sure not to be a crypto-only trader going forward. >> TARGETS FOR JANUARY Here are my targets for next month: Put in place a routine for market and asset analysis - for example, chart BTC daily every week, look for new SPACS every day Build up a new watchlist of decent traders and analysts - do a study of their technique and what tools they use Set up a "day-trading only" bag with small position sizes - purely for trading practice, to get better at identifying and executing setups Create a Trello board to track catalysts for SPACs (letter of interest, definitive agreement, ticker change). Do a deep study of 1 trading topic - for example, Wyckoff analysis. That's it for this month - thank you so much for reading!
I
by theponzimaster
GBP/JPY Looking for a BUY, but so far NEUTRAL!Hey guys! Here is a nice set up on GJ. Currently the market is in a 30 pip range and is pushing towards a resistance area and testing the previous high identified on the 1H chart. I want to see a break of this resistance area and then target the high that is identified on the 4H chart which is also a very strong area of resistance. This trade all depends on whether the market rejects the 1H resistance or whether it pushes through and gives me an opportunity to BUY! Please feel free to like this post if you agree with the set up and share your thoughts in the comments section!
by ShaunGadd02
Paper Trading on TradingView: 3 Simple StepsI’m Markus Heitkoetter and I’ve been an active trader for over 20 years. I often see people who start trading and expect their accounts to explode, based on promises and hype they see in ads and e-mails. They start trading and realize it doesn’t work this way. The purpose of these articles is to show you the trading strategies and tools that I personally use to trade my own account so that you can grow your own account systematically. Real money…real trades. If you are brand new to trading and haven’t yet used a paper trading simulator, you should. Some people won’t use a paper trading simulator when they are first getting started because they don’t feel like it’s an accurate representation of the real markets. They’re right to an extent. You’re not risking real money, so you’re not going to experience the emotions that come along with it just trading in a simulator. Even with that said, I’m still a huge fan of trading simulators. Think about it, when pilots are training, before they are able to actually fly, they spend hours and hours on the ground training in a simulator. Why Should I Paper Trade? There are two main reasons I want to show you how to use TradingView paper trading as a stock market simulator. 1) You want to test your trading strategy. A solid trading strategy has three elements to it: - Knowing what to trade. Are you trading stocks or options? - Knowing when to enter. - Knowing when to exit, at either a profit or a loss. These are the main elements of any solid trading strategy, and it doesn’t matter what strategy you’re trading. It could be a strategy like the PowerX Strategy or The Wheel, it doesn’t really matter. You want to make sure that the strategy actually works which is why you want to test it to make sure that you understand the rules so that you’re not making any mistakes. If you are making mistakes, it’s better to find out when you’re not risking real money. 2) The second reason why you should trade on a simulator first? To gain confidence. Whenever you have a new strategy, you might be wondering if it actually works right? This is why when you use a simulator to test your strategy and you see that it works, you get more confidence because now you get some actual numbers. So you will know your winning percentage, your average profit, your average loss, and other important numbers. Setting Up TradingView To Paper Trade TradingView is a free tool that you can use as a simulator, and you may already be familiar with it already. I use it a lot. So here is a step by step walk-through for how you can use TradingView as a simulator. 1) Step one. You need to connect paper trading, and in order to do this, you go to the “Trading Panel” tab at the bottom. Once you bring it up, you can choose your broker and log into your brokerage account. On the very left side, you see “Paper Trading.” Click that. 2) Step two. You want to reset your account. You might be wondering, “Why should I reset my account? I haven’t done anything yet.” This is because your account will start you off with $100,000 by default. This may be a fun fantasy, but maybe not exactly your trading account size. It is very important that you mirror the size of your paper trading account with your real trading account. So, therefore, you click on the gear icon that will show on the right-hand side, and then in the dropdown menu, you see “Reset Paper Trading Account.” Once you click that, it will prompt you to input your desired starting balance. So if you are planning to start with $10,000 in your real trading account, start with $10,000 in your paper trading account. If you are starting out with an account of $20,000, enter that instead. You get the idea. Then just hit “Reset.” 3) Step three. You will have to adjust a few settings and before I walk you through an actual order. Right mouse click anywhere on the screen in your charts. In the menu, you will see the fourth item down is “Trade.” Go ahead and click on “Trade” then click on “Create New Order.” When you click on Create New Order, you have an order ticket appearing on the right-hand side of your chart. You will also see a gear icon. Click the icon to change the settings, and these are the settings that I personally use, so I highly recommend these. - Uncheck “Show Order Price In Ticks.” - Check “Show Quantity In US Dollar Risk” - Uncheck “Show Quantity In Percent Risk.” - Check “Show TP/SL Inputs In USD,” (that’s Target Profit & Stop Loss). - Uncheck “Show TP/SL Inputs In %.” OK, so this is the basic settings in order to use the simulator. Now let me show you exactly how to use it in conjunction with the PowerX Optimizer. Using TradingView With The PowerX Optimizer The PowerX Optimizer is a tool that I personally use to scan for stocks to trade. When the stocks come up on the list I quickly go through the list and I’ll look for stocks that have no gaps, good upside/downside trend-ability, and I want to see a nice P&L chart. Let’s pretend the PXO pulled up the stock PLUG as a recommended stock, and use it as an example. Now, remember what I said about how a trading strategy should tell you three things. It should tell you what to trade when to enter, and when to exit. This is exactly what PowerX Optimizer does. Now here is how to use TradingView’s paper trading simulator in conjunction with PowerX Optimizer. The PowerX Optimizer will show you how many stocks to trade based on your account size, when we want to enter, and when we want to exit. What you want to do in TradingView to fill in the quantity and where exactly we want to enter. And according to PowerX Optimizer, we want to buy, but we don’t want to buy it at the market price, we want to buy it when it reaches the “Buy To Open” price in the data window on the upper right. Let’s just use the price of $18.89 as a place holder for this example. Let’s also assume it suggests buying 55 shares based on the account size. And then we can also specify our profit target and our stop loss. Now PowerX Optimizer will give you a the profit target in the “Data Window,” lets say for $26.63. We can then also specify a stop loss, and PowerX Optimizer tells us when to get out of this position with a loss. For this let’s use $15.26. So according to the PowerX Optimizer, with our $10,000 account, we would risk $199, almost $200 trying to make $425. So our risk-reward ratio, as you can see here in PowerX Optimizer is 1:2.13, also seen in the “Data Window.” So then all you need to do is click on “Buy Nasdaq” after you’ve entered all this in TradingView. Remember, this is not being executed as your broker. This is a simulator. So you don’t make and you don’t lose any money. This is for testing your trading strategy and gaining confidence. So let’s just say buy and you see the order is sent right now. Once the order is placed you will now have one position and two orders in the market. Those orders are a sell limit order for our profit target, and a sell stop order for our stop loss. So as you can see, it is super easy to use this simulator here in conjunction with PowerX Optimizer. You can now change the orders that you do have in the market here, so you can change them to a different price by clicking the little edit sign you will see on the right hand side. So you see exactly what you have right now, what you bought, you have the working orders, you have the filled orders here and now, if you would change any working orders, for example, if you want to change your stop loss, you just click on the edit here and change it to any value that you want. By the way, the right way to move your stop loss is always closer to your entry price, never away. Never, ever give a trade more room, it usually ends in disaster. Summary So this is how this trading simulator works. First of all, why do you need a simulator? It is just to first test your trading strategy to see if you understand the rules, and to see if the trading strategy works. Finding all this out will gain your confidence, all with no risk. You can set up your TradingView account for paper trading in three easy steps: 1) You connect the paper trading account. 2) You reset it to the account size that you are planning to trade. 3) You modify the order settings. Very simple. Then you just pick any stock that you want. The best thing is, is it’s free. I highly recommend that you do this. You literally have nothing to lose.
TVC:NDQEducation
by rockwelltrading
16
16/11/2020 XAUUSD Leaning bearI started on my plan around 3 hours ago when price was near my 1900 resistance but now it had come back down to my bias zone. I wanted to say that gold looks over-extended but in the lack of any bearish setup, we look to be going higher. But now it is back to neutral and I am leaning bearish. Wait to see reaction.Go long only on bullish setup, targeting 1899.26-1900.96, 1909.38, 1921.2. In the event 1935.4 trade today, I think it will present a low risk sell level. If 1886.6 breaks, look shorts to target 1876.5, 1863.84, 1853.8. 1848.00 was last week low's and if we reach here, should see a bounce.
OANDA:XAUUSDShort
by FadeMeIfYouCan