Trade for living.txt

Trade for living.txt - Pips 5th number from left pay pip...

  • No School
  • AA 1
  • 4

This preview shows page 1 - 3 out of 4 pages.

Pips - 5th number from left pay pip spread when both enter and exit a trade bull market - making higher highs and higher lows. bear market - making lower highs and lower lows. if it has higher low but lower high, then the market is neutral, then we either, - wait for next confirmation signal - stand aside, dont trade 1. Confirm trend Objective - confirm trend - avoid stop triggered by false alarm (find a strong resistance/support) How - find two most recent high and low to determine whether it is bull or bear - analysis change when got new significant high or low Two ways to trade with significant low and high - only focus on candlestick of swing high and low {1. 2 high and 2 low (Technique 1)} - spot the most recent 2 high and 2 low to determine the trend - enter once the 4th high/low confirm the trend {2. Horizontal line on low of swing low (bear) (Technique 2)} - draw a horizontal line on low of swing low - once 3rd high/low confirm the trend - enter the trade once the price breakthrough the horizontal line - stop loss on just above the most recent swing high Notes - exit the market when trend changes or neutral sign appear - neutral sign such as two most recent swing high show lower high but two most recent swing low show higher low - enter once the trend of higher high and higher low formed - dont need wait till 4 formed, 3 is enough {Technique 3 - Look for pennant formation} - pennant is formed when two most recent swing high forming lwoer high, and swing low forming higher low - a trend is gonna start very soon - the price may break in either direction - put two order - short on (low a bit of lowest point) of the most recent swing low - buy on (high a bit of highest point) of the most recent swing high {Confirmation 1 - ADX} - determine how stong is a trend - > 40 strong , < 20 weak - identify changes of market from ranging to trending (when it move from <20 and increasing) - combine with Technique 1, 2 and 3 - only trade when ADX of today, is higher than the previous day {Exit 1 - ADX Bishop} - when the ADX more than 40 then we enter the market - but when it drop, even a bit, even a tick, then we straight exit the trade - once ADX drop, exit market {Technique 4 - Channel Breakout *Not recommended} - look for the highest and lowest point for a 20 days period
Image of page 1

Subscribe to view the full document.

- place a buy order at sligtly higher point of highest point and a sell order at
Image of page 2
Image of page 3
  • Fall '19

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern