Great teaching. I had 2 TSLA calls got stopped out with small loss, later one small win recovered the loss. But I got stopped out all the time. SPY Calls today also stopped out
@@ltk7309 You can increase the SL distance by 50% or 100%. Eats into your risk/reward ratio of course. How do veteran traders handle a trade that is going ever further into the wrong direction?
Yeh true and fuck knows what time frame hes on, is this 15, 30, 4hour? Fkn daily? Long time for fuck all or alot in about 1 hour if thats 5 min.. such an open ended video. I mean, nice trade but shit video
He enters on a lower high or higher low with a strong candle pattern from S/R. It's basically a failed attempt to make a new high or low. Some other good traders use the same pattern, it's called "Rubber man" by Navin Prithyani AFAIK. More conservative alternative is you wait for structure shift and enter on a pullback. Nothing else is needed really, no indicator overbought or divergence or whatever.
I have learned more from your TH-cam videos the past couple of days to the extent that I feel like a lightbulb has gone off in my head about TRADING in general. Everything from what you trade, the platform you trade on, the time frames you use for marking up your chart, And the way you place and manage trades. I only wish at least once or twice a week you would trade live😊😊. Or at least record one or two of your live sessions and post them online because I think most people like myself learn from constant repetition. Thanks for all your training👍🏼👍🏼
He’s right. Iv need stopped out of literally hundreds of trades that I had correct analysis on. It’s the most frustrating thing to loose money when the chart gos in the direction you were positioned for
Another way to approach the trade is to take the stop out when the trade goes against you. Then re-enter the trade once you see it pushing down past your original entry point.
Depending on the software your using I like to ride lightning when I’m scalping. Set the buy or sale trade up. With my app I can easily swap between by and sell I pick which way I think it’s gonna go and I hover when that one break out candle with heavy volatility hits and starts to trend its direction I press. Ride if the next candle starts to break away I double down I rarely get the chance to triple down but sometimes I do. When that pull back candle happens on the 1 min if it looks more bearish sell and take profit. You can always buy again. To be fair it can go horribly wrong and takes a lot of mental/emotional control to prevent knee jerk reactions. I don’t know what it’s called but I call those the reverse dead cat bounce. (In the video) with a rocket ship like that I wouldn’t hop down until the red is half way or more down the green
You should be getting out at that Green RRT, then re entering when they paint the double top. More times than not they will hit your stops before continuing, you can get out near break even risk free, then renter.
As a scalper, I would have closed manually either on the first strong green bar or at latest on the second large green candle with a second one in a row... Or lets say like this: I would not have opened the trade in the first place because of the large green candle - I would rather wait on the sidelines for any structural confirmation (up or down).
How about using order flow to enter at the pinnacle. Not only will that allow you to have a way tighter stop but you can also put on bigger size with the stop being closer. ORDER FLOW! It changed the game for me.
If he would’ve waited for a break and retest of that resistance zone he has marked it could’ve also worked out while reducing risk. When it initially broke through it went back into his zone then continued down. So maybe a break and retest entry as well?
In my backtesting you only need to put the stop loss at the extreme high or lows if your entry is bad. If your entries are bad you 100% need to put them at the extreme high or low due to not having patience for the setup to form which in this video was the BOS and retest. Pyschologically it is hard to wait in live trading so yeah it makes sense why some of us will need wide stop losses.
Thats where everyone thinks to put their SL, thats why its very common for price to quickly wick up, hit the area where everyone puts their stops(right above the recent swing high) then reverse heavy back down.
I always keep tight stops, a good entry is the main thing to look for. You definitely could’ve entered earlier. If i have a bad entry and my SL gets hit i always look for a re-entry but NOT chasing the trade.
Thanks for the tip I usually get stopped out then later on price moves the direction I predicted,and sometimes I'm scared to let the trade play out but not anymore 👍
I trade trend lines and I would have shorted at the second red candle or the lower high it created for better context. Assuming the breakout was towards the vwap
In other words wait for the retest. It hit the resistance once rebounded retested go rejected again and came down to test support, save your self pain and wait for the retest.
Thanks for sharing such valuable information! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). What's the best way to send them to Binance?
With an upmark like that it's clear where the order block is. This is where it gets tricky as you could not figure how deep the retracement would be. To be safe you would atleast aim for 61.8% to 78.6%. But you could miss a lot of opportunities as many times it only retraces back to not more than 50%. However smaller timeframes can give a better idea.
This was wonderful yo watch. So I don’t have a platform to do traditional trading practices on my mobile device. I use binary options and constantly get burned.
I would have entered the sell trade straight after 1st green candle followed by 1st red... And would have seen stochastic rsi is oversold or not... This is how I plan reversal trades in supply and demand zones....
U have to wait some LH and LL before entry if it consolidates it doesnt mean the buyers close their Position but they Are testing if there ist enough buyers to Go up
This is roughly how it works. Lets say you have a friend that is a big fan of Company X stocks/shares. He owns some and will not sell them even if the price goes down in the short term. You say "since you're not going to sell them, can I borrow the 10 shares you have and i will return the 10 shares to you after a week" You borrow the 10 shares and sell them for $100 a share for a total of $1000. After a week the shares have gone down to $80, you buy back 10 shares for $800 and then you return the shares to your friend. You have made $200 and your friend still has the 10 shares he wanted to hold.
I own a fair share of stocks myself, but I am confused on why it was good that you sent your loss above the peak and why it was good that it went down and that’s where you sold
I did it exactly like that... Went on short... But market went reverse... I've literally came back from -60% to -2% in a day ... I was adjusting stop loss accordingly... Now I am still in - but i hope soon I'll be getting profits.
No. For that kind of profit yes... but i think he bought 1 lot. on a 0.01 lot it would've been 4$ profit but you actually enter with like 10$? on a 0.01 lot, depending on the leverage used with your broker.
Riley, thanks I always had questions when to enter when the market has a crazy move up or down. It seems from this video that the best time to enter it seems that is when price is reversing after some consolidation. Thanks!
How do you know if the trend wont continiue since its kind of bullish structure, if you zoom out whats the box you marked where does the consolidation come from before
If you can watch the chart frequently non stop till your trade is over then yes you can decide when to get out of the trade manually. Otherwise, you must put a stop loss so when you are absent from the chart and the chart did a crazy spike you won't loss a tremondus amount of money
Oh my gosh, this type of trading can go so against you big time. I have watched a $2 stock just keep going up to 50....and then 60, and then $100.... Be very careful, you can lose everything if you get stuck.
Ok, is that.a smart concept indicator for stop loss? Also, I'm in search of a TP/SL indicator that's useful. Haven't seen much so far. Do they let us make one for T.V?
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Pl Indicator name
Link is not accessible
@RileyColeman what can you say about martingale strategy?
Hey,you good guy
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Thats why a good entry is really important
What site/app do you use for trading?
@@jujulilbrown2344metatrader
No. It's not important where you enter, it's important where you exit
Good l il finding the so called hood entries
@@andrebogdanuk I agree , a good entry and a good exit plan 👍
Don't be too greedy 😉
No, I always wait for the double top to play out. If it goes above resistance it’s a long. So it’s better to be patient
I was thinking this too, and I thought this was part of his strategy too?
You'll miss out most of the time
@zeyadbobakra5983, but it's better to miss a trade rather than losing your money 😅
i think profit will be only if the market is bbullish not bearish
Everyone has their own strategy to enter in the trade. Sometime it works, sometimes it doesn't
Thank you because a lot of people do a lot of talking but don’t show examples as well as you do
"Stop hunts isn't a joke. Millions of lives lost every year" - Dwight Shrute.
That's what she said!
What software are you using to trade
Great teaching. I had 2 TSLA calls got stopped out with small loss, later one small win recovered the loss. But I got stopped out all the time. SPY Calls today also stopped out
perfect SL to get eaten up by liquidity grabs.
then where would you place your SL? Veteran traders would not put a SL at all.
@@ltk7309 You can increase the SL distance by 50% or 100%. Eats into your risk/reward ratio of course.
How do veteran traders handle a trade that is going ever further into the wrong direction?
This is why you only put the SL at the top once liquidity has been grabbed first
Yeh true and fuck knows what time frame hes on, is this 15, 30, 4hour? Fkn daily? Long time for fuck all or alot in about 1 hour if thats 5 min.. such an open ended video. I mean, nice trade but shit video
@ltk7309 bingo
He enters on a lower high or higher low with a strong candle pattern from S/R. It's basically a failed attempt to make a new high or low. Some other good traders use the same pattern, it's called "Rubber man" by Navin Prithyani AFAIK. More conservative alternative is you wait for structure shift and enter on a pullback. Nothing else is needed really, no indicator overbought or divergence or whatever.
I have learned more from your TH-cam videos the past couple of days to the extent that I feel like a lightbulb has gone off in my head about TRADING in general. Everything from what you trade, the platform you trade on, the time frames you use for marking up your chart, And the way you place and manage trades. I only wish at least once or twice a week you would trade live😊😊. Or at least record one or two of your live sessions and post them online because I think most people like myself learn from constant repetition. Thanks for all your training👍🏼👍🏼
He’s right. Iv need stopped out of literally hundreds of trades that I had correct analysis on. It’s the most frustrating thing to loose money when the chart gos in the direction you were positioned for
My fav strategy....profit taking is the catalyst...the more the % up since the open, the more room for a pullback,down leg, dip,fade, etc etc lol
Another way to approach the trade is to take the stop out when the trade goes against you. Then re-enter the trade once you see it pushing down past your original entry point.
take the stop out? Take stop loss out?? Huh? Do you mean close the trade?
@@ltk7309i share your confusion. 😂
My reply is confusing. Take a loss on your first trade due to your order's stop being hit. Then, reenter another trade that is more to your liking.
@bellonamars2541 this keeps the losses small too👍
@@bellonamars2541 Ahh thanks for the clarification!
No. Do not hold. JUST get back in later
I agree. To much risk. You can always get back in under the range
Thanks
Exactly. Limit losses and if it reaches peak and shows resistance just buy again there
No right or wrong here, context matters a lot and individual preferences too. But I do prefer get in back later myself
that's after cpi, that usually happens 15-30 mins after cpi
this is 100% true, it happned to me a lot, tight sl make you lose the wining trade
Untested strategies make you lose. I talk about PE daily.
We use the Qline+Moneyball Indicator Combo in our Firm... on all our Prop accounts
In reality price would spike the high, trigger your SL then dump leaving you with anger and rage. Liquidity is exactly there where he had his SL.
Depending on the software your using I like to ride lightning when I’m scalping. Set the buy or sale trade up. With my app I can easily swap between by and sell I pick which way I think it’s gonna go and I hover when that one break out candle with heavy volatility hits and starts to trend its direction I press. Ride if the next candle starts to break away I double down I rarely get the chance to triple down but sometimes I do. When that pull back candle happens on the 1 min if it looks more bearish sell and take profit. You can always buy again.
To be fair it can go horribly wrong and takes a lot of mental/emotional control to prevent knee jerk reactions. I don’t know what it’s called but I call those the reverse dead cat bounce. (In the video) with a rocket ship like that I wouldn’t hop down until the red is half way or more down the green
What's the name a platform are you using ???
You should be getting out at that Green RRT, then re entering when they paint the double top. More times than not they will hit your stops before continuing, you can get out near break even risk free, then renter.
Not on a margin account, you risk PDT penalty and the price to get back in is higher, RR
Yes, something ppl will always learn the hard way. But very useful video
As a scalper, I would have closed manually either on the first strong green bar or at latest on the second large green candle with a second one in a row...
Or lets say like this: I would not have opened the trade in the first place because of the large green candle - I would rather wait on the sidelines for any structural confirmation (up or down).
How about using order flow to enter at the pinnacle. Not only will that allow you to have a way tighter stop but you can also put on bigger size with the stop being closer. ORDER FLOW! It changed the game for me.
If he would’ve waited for a break and retest of that resistance zone he has marked it could’ve also worked out while reducing risk. When it initially broke through it went back into his zone then continued down. So maybe a break and retest entry as well?
In my backtesting you only need to put the stop loss at the extreme high or lows if your entry is bad. If your entries are bad you 100% need to put them at the extreme high or low due to not having patience for the setup to form which in this video was the BOS and retest. Pyschologically it is hard to wait in live trading so yeah it makes sense why some of us will need wide stop losses.
Thats where everyone thinks to put their SL, thats why its very common for price to quickly wick up, hit the area where everyone puts their stops(right above the recent swing high) then reverse heavy back down.
I always keep tight stops, a good entry is the main thing to look for. You definitely could’ve entered earlier. If i have a bad entry and my SL gets hit i always look for a re-entry but NOT chasing the trade.
Thanks for the tip I usually get stopped out then later on price moves the direction I predicted,and sometimes I'm scared to let the trade play out but not anymore 👍
Which app you use please 😢😢
I trade trend lines and I would have shorted at the second red candle or the lower high it created for better context. Assuming the breakout was towards the vwap
I did the same thing! Held on 😬 and made a good profit on the next dip.
That's why the power of SNR with rejection and consolidation for extra confluence also confidence.
In other words wait for the retest. It hit the resistance once rebounded retested go rejected again and came down to test support, save your self pain and wait for the retest.
Keep teaching this my man!!! Your helping us out more than you know😉
How is he making when the candlestick pattern was going downwards ?? I’m new to this stuff please explain
This is simple! Price action and formation of Pivot.
very true! and I keep moving my stop because of electricity and freeze issues!😢😮
There are 'killer wicks' tha suddenly appear from nowhere😢 so I put it far far away and move it constantly
what is the period of each division of the graph, M1, M5, H1? and in how much time did it happen?
Thata exactly how I trade but instead of jumping all in I build the position 💪🏾💪🏾
Thanks for sharing such valuable information! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). What's the best way to send them to Binance?
With an upmark like that it's clear where the order block is. This is where it gets tricky as you could not figure how deep the retracement would be. To be safe you would atleast aim for 61.8% to 78.6%. But you could miss a lot of opportunities as many times it only retraces back to not more than 50%. However smaller timeframes can give a better idea.
dont put last high as SL , that is also can be Liquidity sweep
This was wonderful yo watch.
So I don’t have a platform to do traditional trading practices on my mobile device. I use binary options and constantly get burned.
Maybe waiting for the lower high (2nd high if you will) would’ve been a better entry?
Thank you so much Riley for this million dollar info that you are giving out for free
How do I do this on Robinhood options
LOOOOOOOOOL thats for kids dude
I would have entered the sell trade straight after 1st green candle followed by 1st red... And would have seen stochastic rsi is oversold or not... This is how I plan reversal trades in supply and demand zones....
U have to wait some LH and LL before entry if it consolidates it doesnt mean the buyers close their Position but they Are testing if there ist enough buyers to Go up
How is money made with the stock price going down? I’m confused
I have the same question actually my friend...
This is roughly how it works. Lets say you have a friend that is a big fan of Company X stocks/shares. He owns some and will not sell them even if the price goes down in the short term. You say "since you're not going to sell them, can I borrow the 10 shares you have and i will return the 10 shares to you after a week" You borrow the 10 shares and sell them for $100 a share for a total of $1000. After a week the shares have gone down to $80, you buy back 10 shares for $800 and then you return the shares to your friend. You have made $200 and your friend still has the 10 shares he wanted to hold.
Bc he’s shorting it
I own a fair share of stocks myself, but I am confused on why it was good that you sent your loss above the peak and why it was good that it went down and that’s where you sold
I am new to the trade scene. Can you explain how your money went so high when the stock went down??? It changed so quickly!
he shorted
Tip: put your limit order in where you would have placed your stop. Works 70% of the time and makes you a higher winrate, and profit per Trade. 😊
I love financial astrology 😍
What are platform are u using
Wow..🎉thanks for sharing... Been hitting my sl so often because of it being tooo tight.🙈✍️
How does your money change that quickly? Is it options?
Can you explain to me why your profits go up when the bar is dropping? I thought profits were up when the green bar went up
Can someone tell me why when the stock is going down that he's earning money? I always see this but I don't get it?!!
He is short selling. He needs the stock to go down to make money.
I did it exactly like that... Went on short... But market went reverse... I've literally came back from -60% to -2% in a day ... I was adjusting stop loss accordingly... Now I am still in - but i hope soon I'll be getting profits.
I would probably enter when I see the double top, I'd say you where to quick on your entry
Is it possible to put the stop loss exactly where you jumped in so you would only lose your money and not be in the negatives?
It confusing some times because it’s like it’s upside down on some with the take profit/stop loss. Can someone explain
So howd you know it was gonna drop though?
This is true. All you need is High amount of Capital
No. For that kind of profit yes... but i think he bought 1 lot. on a 0.01 lot it would've been 4$ profit but you actually enter with like 10$? on a 0.01 lot, depending on the leverage used with your broker.
Great job!! Good luck!!
Do you trade options. If so how do you implement this within tradingview?
How do you trade on the chart ?.is it option trading or future ?
What time frame do you use when you trade?
It's works for all time frames
Wouldn’t it be better to wait for retest?
Absolutely, this is what I would do.
No failed retest --no trade for me.
Riley, thanks I always had questions when to enter when the market has a crazy move up or down. It seems from this video that the best time to enter it seems that is when price is reversing after some consolidation. Thanks!
How do you move your stop Loss to gains at binance?
But for options though.....
I assume that was rivian earlier yesterday, crazy watching that dpike at market open
is this a put options trade?
How is that possible if you’re selling high and the price drops wouldn’t you want to sell it at its highest Im new to this
Wow really nice Trade, good for you man. 👍
How do you know if the trend wont continiue since its kind of bullish structure, if you zoom out whats the box you marked where does the consolidation come from before
because he didnt do it live
What trading platform do you use
Help needed am a beginner I need a good teacher❤❤❤❤❤❤❤❤
im confused the candles are red and the graph is going down but your pl is going up. someone explain?
hes shorting
Is it bad that I don't use stoploss?, I just watch the market and decide whether to get out or not, same as profit. (Im new)
If you can watch the chart frequently non stop till your trade is over then yes you can decide when to get out of the trade manually. Otherwise, you must put a stop loss so when you are absent from the chart and the chart did a crazy spike you won't loss a tremondus amount of money
Depends on your capital imo...if you have room in your margin loan if that makes sense
trading without stop loss, that is the most stupidest thing trader can do, never do it
@@itstheeraka ever had your sl hunted?
Thankyou guys for the feedback.
Oh my gosh, this type of trading can go so against you big time. I have watched a $2 stock just keep going up to 50....and then 60, and then $100.... Be very careful, you can lose everything if you get stuck.
That's why you use stoplosses
I wanna trade for a lil extra money but im confused why is the candles that go up losing you money but the ones going up losing money
Sorry silly question wich trade is that sell stop or buy stop ✋️
I would’ve added on after that. Double top perfect double top shape.
The time frame??
I’m just getting into researching stocks. One of the things I don’t understand is how you profit off of the bullish slope
Really simple but really valuable. Well done.
Why do you gain money/profit when the chart goes down?
There is a little more to it. But that is right about stop loss. Use the ATR rule
Excellent work 👏🏽
Ok, is that.a smart concept indicator for stop loss? Also, I'm in search of a TP/SL indicator that's useful. Haven't
seen much so far. Do they let us make one for T.V?
Hi, newbie to trading here, I have a question. Why is he gaining money when the price is going down?
Can someone please explain how you make money on a short? I don't get it.
Ive never done this. I thought the chart had to go up to make money??
I do not understand, you’re getting red candles. How are you getting paid off red candles?
How much did you trade with in this example?
I’m confused so your making profit while its going down?? I’m a beginner so I need a little help understanding the chart
So you got in close to the top and profited as it went down? Why is the stop loss way up there, is the chart inverted?