Learning to catch High Probability Breakouts

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amitrandive

amitrandive

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#4,212
#4,212
10 price action trading tips for better trading.

http://www.newtraderu.com/2016/05/10/10-price-action-trading-tips-can-learn-10-minutes/

  • Avoid trading when the market is far away from the moving average
  • Support & resistance helps you identify areas of value to trade from
  • Trading at support & resistance gives you favorable risk to reward
  • The longer it range the harder it trends
  • Narrow range candles usually lead to explosive moves
  • Wide range candles serve as “hidden” support & resistance
  • False breakout provides one of the best entry to profit from “trapped” traders
  • Trading with the trend gives you greater profit potential
  • Continuation patterns work best in trending markets
  • A break of structure, trend line, and moving average usually indicates the trend is coming to an end

For those interested read the entire article.Got wonderful info from that article.
 
I

indianbank

Well-Known Member
#4,214
#4,214
Hi friends.... good after noon
-----------------------------------
Indian market is trying to climb up... but strong USD will drag the bulls down....

coming days UK will show signs of recession ... so its sentiments may affect Indian investors...
I dont think nifty will cross 8300 level this year.... because there is no good sign for bulls ....

Friday evening i have taken position in Gold july futures.......

I have to see how equity market behaves towards global sentiments and we will initiate new positions according to it....
 
amitrandive

amitrandive

Well-Known Member
#4,215
#4,215
10 points before you try any trade

1.An entry does not determine profitability it only determines potential profit the exit is where the win or loss occurs, focus on that.
2.A robust trading system means nothing unless you can follow it with discipline and self control.
3.Charts don’t care about any one persons opinions why should you?
4.Good trading will make you some money but only good risk management will allow you to keep the money.
5.Good traders search for the right entries, great traders search for the right systems.
6.Bad traders have an opinion, good traders have a plan.
7.In the markets money flows continually from those you do not really know how to trade to those who do.
8.Eventually those with the best risk management and trading method end up with the money from those who only have a good trading method.
9.Bad traders tend to be stressed and emotional, good traders tend to be more quiet and at ease.
10.Show me a trader overly focused on just one trade and I will show you the 90% that are unprofitable, show me a trader focused on the whole process of trading with little concern over any one trade and I will show you a member of the 10% that are profitable.

Source:Email from a friend
 
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