Learn to trade –
In this live trade I talk you through the price action as it unravels. I discuss the reasons for my entries, the context for my trades and I explain how I manage my trades.
We discuss initial risk and actual risk in terms of my protective stop and how I will know if I am wrong to take the trade.
During this live trade I manage the trade by first of all increasing my exposure as the market moves slowly against me. This is part of this type of trading strategy. The risk that I place on each trade is specifically designed to allow me to do this.
I take profits on the second trade at around the entry level for my first trade. This improves my chances of a profitable trade overall.
As the market begins to move in my favour I take partial and then full profits at appropriate times. The final bullish pin bar ends my trade.
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again good Video! Thanks
cool and all :p but you can use RSI + 3 MA's + shiift to 15-5 min for confirmation on MA's at least and then wait for it on the 1 minute 15 minutes will be to slow.. you to get in on the retracement.. 🙂 RSI BUY Signal + MA' Buy signal = Telling you to buy/sell = win hold trade 1-5 min max,,, Zigg Zagg/Reversals Direction can also be put into the chart 🙂 and these will take in the bigger frames and waves… if you can code a bit…
Very tight stuff. Nice. Best way to not fall asleep and miss things.
Nice video and trade management – and patience too – to wait for the trading range to break
Excellent live trade, very calm clear explanations, thanks.