How To Read Candle Stick Price Action To Exit a Trade
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- เผยแพร่เมื่อ 12 ต.ค. 2021
- How to earn $10,000 a month from Day Trading without a complicated strategy or any technical indicators. Even if you're a beginner trader. Click the link below:
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One thing that really helps me stay longer in a winning trade is to have the 9 moving average on the screen. In addition of course to watching the candles and zones. I stay in longer as long as the candles don’t close on the wrong side of the 9. Great advice to wait to see how a candle CLOSES to make a decision!
Glad to hear you have gotten comfortable to the point that you are able to add 1 additional moving average. Just don't regress like some people and end up adding 10 more things lol. But yeah waiting for the candle to close and watching the direction of the body of the candle in relation to the previous one helps out a LOT. Good luck.
@@MK-University …. now if only I knew what to do with VWAP! Noticed things bounce off of it… sometimes… and days when the price action sits on top of it are not the best days… probably because there’s no trend? so mostly VWAP is kind of annoying IMHO…
@@MK-University Not a chance!! Less is more. You taught me that!
@@teagan3912 Have a VWAP video coming out on monday morning so that will explain it there, but VWAP is REALLY helpful when you know what it's really for. The video will explain with context =)
@@MK-University Excellent! Thank you 🙏! Can’t wait to learn about that most irritating VWAP! Someone on TH-cam said it predicts the future?Spooky. Perfect for Halloween week 😂 Have a wonderful weekend!
Looks great. Thank you Maurice Denny.
You're welcome!
Good stuff Maurice!
Appreciate it!
Agreed Maurice Kenny . Be patience is key, sometimes it reverse and chart are mechanical most of the time. Time, confidence and discipline will beat market ❤️
Exactly!
@@MK-University I personally realize last week Physical stop loss is on my personality, very cruzial 3-4 times bigger your winner than you lost but sometimes it depend of the play, I think is great sometimes also use Mental stop loss, every play are completely different, contract - chart- context- volumen- yourself
❤️
Thank you for the video good Sir. On Raphael's(I think that was his name) exiting dilemma. I find that switching to Heikin Ashi candles after entering helps get rid of the noise in order to not jump ship so early. What are your thoughts Mr. Kenny?
Personally do not like them because from a direction perspective they are nice since it relaxes u in that sense, but from a understanding of what the candles are telling u while ur in the middle of the play it’s leaves out a lot of important info. It’s kind of like being blind folded in front of a lion. The lion is STILL THERE so that’s the problem not the fact that someone can’t see the lion lol. So u need to be aware of your surroundings or in other words the story of the candle sticks on the 1 min chart.
Hi Maurice!
I’m curious. Very curious actually. If you were to use a hard stop loss, how would you do it?
Thank you!
Hey, it’s pretty simple actually. So Monday May 6th I’m actually releasing a new video about how to enter & exit option trades so watch that video and it will help you out 😀
That sounds great. The mental stops are killing me. The last month, I took 18 trades. I won 14 trades but the 4 trades that I didn’t win, damn there killed me. Will you be speaking about hard stops?
Hey Maurice, thanks for the content, it's been very helpful. Wondering if you have any vidoes identifying your entry candle trigger criteria? Specifics to going based on trend or you mostly focus on zones and opposing candle confirmation? Thanks for your insights.
Yes I have a LOT of that content in extreme detail, but that is strictly for my students in the 1 on 1 coaching program.
@@MK-Universityunderstood.. been going through your book, videos just add the extra.. ill double check book. :)
would be nice for you have a " fine tuning" course/coaching as some of us may not need the full " this is how you trade" course. Thanks.
Maurice, thank you for your guidance, but just for a newbie, which platform do u suggest should start on.
You're welcome. I use Thinkorswim by TD Ameritrade mostly because of their Active Trader tool. Check out my video on Thinkorswim Made Easy and you can see my trading setup and workplace settings. That will help you. 😊
Do you use price action when trading?
Yes. I. Have. 500. .dollars. are. You. Going. To. Help. Me.
@@sihamhussein4120 check out my recent 3 videos as I provide the full strategy for free there (20 mins+ videos) so you can start there.
We do have 1 on 1 coaching of course so in those videos you can check the description as well with more info.
wow
So I will lessen my anxiety I sell half of my position. I feel better afterwards. Let the other half ride.
I'm glad to hear that's working for you. 😊