@@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👍🏼👍🏼
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
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.
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.
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
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).
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.
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?
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.
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.
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.
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 👍
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 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.
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.
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!
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?
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.
Thank you for the useful video, I’m new to the world of cryptocurrency, the video helped me understand some things, I’m looking forward to more videos from you. Thank you!
New to the channel, some info to help people: for trading this is solid advice, for investing NEVER USE STOP LOSSES. Set price alerts of course but never sell a down position automatically. You need to check the reason for the drop because most of the time big drops are over reactions or whole market dips. If the reason you bought in hasn't changed and this dip is a temporary setback then the best thing to do is buy more to average down.
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 feel like in your other trades you wait for the W pattern before you enter? Did you do it different this time because the first entry into your resistance zone was plowed through?
Ok so I am new to trading and understand NOTHING the beginners courses I find never seem to explain anything before getting super detailed and crazy oit of no where. And recommendations on where to start?
Never ever ever NEVER put your stop at the exact high or low. Go a few pips or points beyond it, especially in forex and futures. I specifically look for dum dums to scalp those liquidity grabs.
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.
![BEST TradingView Indicator for SCALPING gets 96.8% WIN RATE [SCALPING TRADING STRATEGY]](/img/n.gif)
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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 😅
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
"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
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
Thank you because a lot of people do a lot of talking but don’t show examples as well as you do
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👍🏼👍🏼
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
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!
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
What's the name a platform are you using ???
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.
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
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.
Thata exactly how I trade but instead of jumping all in I build the position 💪🏾💪🏾
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).
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.
Yes, something ppl will always learn the hard way. But very useful video
Which app you use please 😢😢
that's after cpi, that usually happens 15-30 mins after cpi
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. 😊
We use the Qline+Moneyball Indicator Combo in our Firm... on all our Prop accounts
I love financial astrology 😍
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
What trading platform do you use
How is he making when the candlestick pattern was going downwards ?? I’m new to this stuff please explain
What are platform are u using
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
How do you trade on the chart ?.is it option trading or future ?
Thank you so much Riley for this million dollar info that you are giving out for free
very true! and I keep moving my stop because of electricity and freeze issues!😢😮
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?
What time frame do you use when you trade?
It's works for all time frames
I did the same thing! Held on 😬 and made a good profit on the next dip.
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.
What is a good broker for scalping?
How does your money change that quickly? Is it options?
Which platform is that and which market?? Im really interested
scalping by definition is risking more than your reward, this isnt a scalp
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.
This is simple! Price action and formation of Pivot.
That's why the power of SNR with rejection and consolidation for extra confluence also confidence.
Amazing gem 😍💎
What do you use for recording yourself?
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
what platform is this?
Wow..🎉thanks for sharing... Been hitting my sl so often because of it being tooo tight.🙈✍️
What broker do you use?
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 site or app is the best for trading?
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.
What broker you use?
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.
What platform are you using?
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.
is this a put options trade?
Guys like this teaching people how to be liquidity is why i make money ✅
terrible entry price . go for lower high with the stop next time take partial profits on support
exactly
what platform are you trading on ?
What platform you use ?
Which trading platform is this
Keep teaching this my man!!! Your helping us out more than you know😉
What are u trading here broski futures or options? I assume futures ? But jw
Really simple but really valuable. Well done.
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
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!
What futures do you normally trade?
What market is this? Is this forex or stocks?
This is the kind of stuff that made me subscribe
im new to this. why do you got money? the price was lower?
Wouldn’t it be better to wait for retest?
Absolutely, this is what I would do.
No failed retest --no trade for me.
Which broker are you yse broo
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 howd you know it was gonna drop though?
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?
Great job!! Good luck!!
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.
Help needed am a beginner I need a good teacher❤❤❤❤❤❤❤❤
How long was you from the enter to the stop
Thank you for the useful video, I’m new to the world of cryptocurrency, the video helped me understand some things, I’m looking forward to more videos from you. Thank you!
What stock is this?
New to the channel, some info to help people: for trading this is solid advice, for investing NEVER USE STOP LOSSES. Set price alerts of course but never sell a down position automatically. You need to check the reason for the drop because most of the time big drops are over reactions or whole market dips. If the reason you bought in hasn't changed and this dip is a temporary setback then the best thing to do is buy more to average down.
Haha, buy more when it's dumping and hope it'll go back up before you blow your account. Nice.
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
What's your leverage on this @Riley?
But for options though.....
Hi, newbie to trading here, I have a question. Why is he gaining money when the price is going down?
Thanks man. I've lost a dew battles without proper stop loss
I feel like in your other trades you wait for the W pattern before you enter? Did you do it different this time because the first entry into your resistance zone was plowed through?
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
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
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?
How much time you gave?
Ok so I am new to trading and understand NOTHING the beginners courses I find never seem to explain anything before getting super detailed and crazy oit of no where. And recommendations on where to start?
TH-cam has it all my, just gotta look for it.
I’m new to all this but how long are you allowed or able to stay in after your entry. Like could you sit there for an hour and just see where it goes?
Yes
At time frame is this?
Perfect explanation ❤
What do you trade
Never ever ever NEVER put your stop at the exact high or low. Go a few pips or points beyond it, especially in forex and futures. I specifically look for dum dums to scalp those liquidity grabs.
you are the dum dum institutions do not care about your stop loss
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.
Wait so when your trading Dow is good or does it depend on what website your trading on