in the last segment of this educational series we spoke of qualifying high probability day conditions in a pre market scan and than started introducing high probability entry points for each of these conditions
1.) Scan: evaluate weekly or daily trend - are we long/sideways/short
2.) Scan: evaluate pre market to determine a high probability of a daily condition:
a. Trend day (TD)
c. sideways di...
as promised here now the post with an example of why higher time frame HOD,LOD is important
getting a feel for the higher likelihood of what the market might do today and what that means for your flexible but still present expectations of the day is a good starting point to rather be anticipatory on the right side of the market than following intuitive behavior when the market opens sine we already learned that most of the mark...
we started in our last session about Technical Analysis with some principles and candlestick patterns.
I get often asked how my work spaces look like ,what software and hardware i am using,what indicators i prefer and how I use them,what my setups are and about my indicator settings-as much as these topics are more secondary i will satisfy this curiosity today before continuing with principle work: (trust me any of the above is...
as mentioned in the prior segment of those series we need to have an edge to engage into the market for it to make sense that over the course of a sample size we actually beat the markets.
No such thing as a sure thing.Why?In principle no one can tell where an individual trade is heading .After all it only takes one person on the other side of the trade to change its outcome-given the fact that he trades a sizeable portio...
it is essential to benchmark all ones trading rules for their validity to be principle based
f.e: markets go long,sideways and down-so it is prudent to have a long strategy a sideways strategy and a short strategy
(only 2 out of those = "two is not a choice" will squeeze the brain into non conducive trading behaviors)
since trading in principle is counter intuitive it is imperative to get in specific trading conducive states-NLP...
as promised in my last post I will present a step by step tutorial about trading principles to help each participant in this community to pick better entry and exit points for their crypto currency exchanges or as a matter of fact any participation in markets of any kind.
The first segment will be a presentation called "A Traders daily plan"
it represents the parts necessary for a complete transaction