@@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
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👍🏼👍🏼
If u do that is because u don't trust at all the level u are entering, what u mean is that u put your stop on a ltf level actually knowing is in the middle of an order block on hft... Enter at good levels or do not enter at all, that's why they say less is more
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
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
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.
One thing I noticed is that there were a couple bullish candles during the consolidation range at the top, shows price wanted to go back up again to most likely claim some liquidity and stops before moving back down
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 👍
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
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.
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.
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
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.
Great video! If I may, I have a slightly off-topic question: I have USDT in my Trust Wallet (inmate tree weekend laundry false remember neither rare inform cruel license pass). How can I transfer it to Bybit?
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.
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.
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.
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.
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.
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
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).
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.
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
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?
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....
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?
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.
How the heck do I get started doing this?? I need to change my life and I have the drive to learn but have no idea where to begin;( if anyone has any tips or hints I’d be greatly appreciative🙏 god bless
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 $200 and your friend still has the 10 shares he wanted to hold.
No. For that kind of profit yes... but i think he bought 1 lot. on a 0.01 lot it would've been 4$ profit but you actually enter with like 10$? on a 0.01 lot, depending on the leverage used with your broker.
📙Free Scalping Strategy Class on how to start becoming a profitable trader ➡️join.evolvedtraders.com/yts
Pl Indicator name
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@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
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
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👍🏼👍🏼
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. 😊
If u do that is because u don't trust at all the level u are entering, what u mean is that u put your stop on a ltf level actually knowing is in the middle of an order block on hft...
Enter at good levels or do not enter at all, that's why they say less is more
"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
Thank you because a lot of people do a lot of talking but don’t show examples as well as you do
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
Scalping is a losing game. Just watch some videos of sudden crazy random moves in market when you can lose your shirt and more.
“great teaching” bro he just said the market pushed up, consolidated and i’m thinking it’s going to go down 😭😭this is not scalping this is gambling
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
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.
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
One thing I noticed is that there were a couple bullish candles during the consolidation range at the top, shows price wanted to go back up again to most likely claim some liquidity and stops before moving back down
I did the same thing! Held on 😬 and made a good profit on the next dip.
What's the name a platform are you using ???
We use the Qline+Moneyball Indicator Combo in our Firm... on all our Prop accounts
that's after cpi, that usually happens 15-30 mins after cpi
Yes, something ppl will always learn the hard way. But very useful video
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 👍
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
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.
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!
Thata exactly how I trade but instead of jumping all in I build the position 💪🏾💪🏾
Which app you use please 😢😢
Wow..🎉thanks for sharing... Been hitting my sl so often because of it being tooo tight.🙈✍️
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
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
very true! and I keep moving my stop because of electricity and freeze issues!😢😮
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
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.
That's why the power of SNR with rejection and consolidation for extra confluence also confidence.
Great video! If I may, I have a slightly off-topic question: I have USDT in my Trust Wallet (inmate tree weekend laundry false remember neither rare inform cruel license pass). How can I transfer it to Bybit?
Thank you so much Riley for this million dollar info that you are giving out for free
Keep teaching this my man!!! Your helping us out more than you know😉
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.
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.
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.
This is simple! Price action and formation of Pivot.
I would probably enter when I see the double top, I'd say you where to quick on your entry
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.
terrible entry price . go for lower high with the stop next time take partial profits on support
exactly
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.
I’m just getting into researching stocks. One of the things I don’t understand is how you profit off of the bullish slope
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
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).
Really simple but really valuable. Well done.
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.
Help needed am a beginner I need a good teacher❤❤❤❤❤❤❤❤
Thanks man. I've lost a dew battles without proper stop loss
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
dont put last high as SL , that is also can be Liquidity sweep
There are 'killer wicks' tha suddenly appear from nowhere😢 so I put it far far away and move it constantly
That's my struggle now. I'm keeping my stops tight so I don't lose the gains if it reverses.
Great job!! Good luck!!
Wow really nice Trade, good for you man. 👍
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?
Excellent work 👏🏽
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....
This is the kind of stuff that made me subscribe
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?
How do I do this on Robinhood options
LOOOOOOOOOL thats for kids dude
I assume that was rivian earlier yesterday, crazy watching that dpike at market open
This is all good and dandy but it would be nice to know what time frame you tend to trade on?
How do you move your stop Loss to gains at binance?
what is the period of each division of the graph, M1, M5, H1? and in how much time did it happen?
I love financial astrology 😍
You had a wrong entry. Should have waited for the double top then enter.
Yeah well the dude cant trade for shit. Hes a straight con artist
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.
How the heck do I get started doing this?? I need to change my life and I have the drive to learn but have no idea where to begin;( if anyone has any tips or hints I’d be greatly appreciative🙏 god bless
Maybe waiting for the lower high (2nd high if you will) would’ve been a better entry?
Perfect explanation ❤
What are platform are u using
How do you make money when you end the trade when it’s gone down seen this a lot but never understood
So howd you know it was gonna drop though?
I would’ve added on after that. Double top perfect double top shape.
Shorting front side is a no no
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.
which platform you are using for trading
Solid advice for any beginners
How is he making when the candlestick pattern was going downwards ?? I’m new to this stuff please explain
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
What application or broker is that chart from?
which broker do you use for scalping ,and what do u think is the best stock for scalping?
A stop loss is useless if the price falls below or above ur stop loss, makes them useless for really volatile stocks
Nice vids rlly appreciate
Sorry silly question wich trade is that sell stop or buy stop ✋️
I wish I could do this with ease. I’ve been paper trading for half a year and I still need practice
No matter where i put the SL the market always gives it a little kiss to trigger before going in my direction like crazy.
Do you trade options. If so how do you implement this within tradingview?
Took a very similar trade on EU
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 $200 and your friend still has the 10 shares he wanted to hold.
Bc he’s shorting it
is this a put options trade?
How do you trade on the chart ?.is it option trading or future ?
You entered to early look at the structure that formed for a rejection and a mich better rr
This is true. All you need is High amount of Capital
No. For that kind of profit yes... but i think he bought 1 lot. on a 0.01 lot it would've been 4$ profit but you actually enter with like 10$? on a 0.01 lot, depending on the leverage used with your broker.
Use footprint chart to put stoploss
The time frame??
Guys don't do stop loss just invest in s and p 500. Walmart. Or like Att or Nvidia. Samsung. Or like Mazda or something you will hold for years
True but no need for that of a stop loss could have had a better entry
What futures do you normally trade?