Price Action
@MTF_Trend
Process focused & risk management oriented securities trader, analyzing price actions on multi time frames for short term speculations and long term investments
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A lot traders say that many breakout trades fail in this market. I disagree. Many breakout trades on short side in this downtrend market work. Honor risk management and trade with the trend.
Every weekend, I scan for stocks that crossed the 200 day SMA in the last 5 days & set alerts on key levels to enter. Stock price needs to trigger my alert price & fit risk/reward target before I buy. Many stocks in strong sectors often cross the 200 day SMA around the same time.
- stay healthy - live debt free - live within your means - pay yourself first then others - handle your trading like a business - have a positive mindset even when you encounter failures and setbacks - keep your emotions in check - don't follow blindly trading advice from others
I only use two indicators to show a trend with past data points: moving averages and VWAP. I use a few indicators with current real-time data points (not past) to make observations on the chart easier and faster to detect. Clean charts makes trading much easier for me.
When looking at the 3 major US indices on a weekly chart, the Guppy Multiple Moving Average (GMMA) lines have perfectly aligned in order on the downside. Last two times this happened: 2001 and 2008. The downtrend in previous two periods lasted for many months. $SPY $QQQ
Every day, I scan for long opportunities: stocks reaching all time high and 52 week high. Every day, I scan for short opportunities: stocks reaching all time low and 52 week low. In a bear market I have more short than long positions. Vice versa in a bull market.
Two good days in a row. A follow-through day on Friday to close the week strong is what we like to see before the CPI number comes out next week.
$QQQ shows an ugly red last candlebar on the quarterly, monthly, weekly and daily chart. All timeframes have a close below the previous period low. Lot of work required to avoid a yearly close below the previous bar low (11.3% price increase required).
Being a perma bull, week in and out, is just as bad as being a perma bear. Acting on both bullish and bearish chart patterns through tested strategies and risk management increases profits.
Best traders in history took positions on the long and short side, through disciplined strategies and risk management. Yet, many traders studying historical traders are afraid to take short side positions themselves. Study, learn and avoid missed opportunities.
RT @tradingview: @MTF_Trend in the works! Any updates? Still no way to set alert based on cursor magnet position on the high, low, open or close of a bar?
2 and 5 year bond yields higher than 10 year bond yields. Only taking the best trades while keeping a large cash position. Still expecting a lot of volatility in the upcoming weeks.
Several respectful and successful traders tweeting that the bottom has been found. There is no need to predict. Just follow your rules, trading plan with an edge and your stocks to trade will show up.
It's 4th of July and private access memberships discounts are popping up left and right. Did the best traders and investors like Jesse Livermore, Nicolas Darvas and Warren Buffett use these services? Create your own edge, know yourself and focus on risk management.
Schiphol airport is truly mismanaged. I have flown many times and years. No communication by leadership at all. #klm #Delta #Schiphol
Conversation over Christmas with my nephew about his Robinhood account and learning from Reddit. If you don't believe that 80% or more active traders loose money, just read the Bitcoin & options subreddits. I gave him a few books that got me started in investing that are timeless
90% of the people won't beat the S&P500. Many traders have a too large cash position at times. I track my average cash ratio over time. Money is made with investments, not by holding cash for a long time. Buy & hold investors are often fully invested which can be beneficial.
One of my rules is not to chase a stock and I trade through price action on charts with a priority on risk management. Volatility is high which means that stops on trades will be wide. For several stocks that I planned to enter, I missed the boat due to premarket action.
Great video from Wyckoff Trading Method: Growth or Value? A Study of Rotation youtu.be/shyDvVASJK8 I check sector strength and ETF strength ratios every Sunday morning.
youtube.com
YouTube
Growth or Value? A Study of Rotation - 09.18.2020
Several stops hit this morning, raising cash significantly. Taking profits, losses and increasing cash is part of the working compounding process and new opportunities show up (almost) every day.
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