TL;DR I feel brand new to day trading anything other than currencies and I'm having trouble finding the right resources to get started. Help? Will trade answers regarding trend trading.submitted by Broggernaut to Howtotrade [link] [comments]
I've been involved in Forex for about 6-7 years now. Light bulb moment happened right around 2 years ago and I'm content with the growth rate of my account since then. I trade very, very simply. I look for established trends on higher timeframes (8h, 12h, daily, weekly), wait for a pullback, and then enter with fib retracements and supp/resistance on what I perceive as momentum. The moving average serves no technical purpose. It's simply a different type of visual representation of price movement. There's nothing revolutionary here.
I want to expand into day trading but again, I feel lost. Small cap? Large cap? Reading tape? Scrapers? Volume aggregation? stock scanning scripts? Runners? Bag holding? Apparently shorting is a big deal? Penny stocks compared to "normal" stocks? which brokers offer what? ALSO, some of these charts feel chaotic at best. The choppiness just appears unreal. Price action in Forex can be choppy, but at least it's "smooth" in the sense that price opens at the same price the previous candle closed at 99% of the time.
It doesn't really help that most of the youtube resources I've come across focus on getting rich quick, or aspects of trading that I do believe are important (psychology, money management, FOMO, indicators, etc.) but I do not need help with. I'm still improving, but I've got a solid grip on these aspects and they are not what I'm looking for. I guess what I'm looking for specifically is information on the nuances, technicals, vernacular, and details that are inherent in day trading stocks that don't exist in forex. Most of the stuff I listed in the above paragraph are accurate examples.
I have zero interest in scalping Forex. I'm active duty with a full time day job which is part of the reason I strictly trade higher time frames. I've also found that the manner in which I prefer to trade is more reliable at higher time frames. That being said I am interested in getting into stocks as well as Forex and will have the option to move to second shift and trade the morning bell and all the liquidity that comes with it in the next couple months. I'm looking to get educated in the interim. It's likely that I'll eventually move into long-term trading with stocks as well, but who knows.
Does anyone have any resources or suggestions for materials that touch on topics similar to what's listed above that they found helpful when first jumping in? I'm looking for the option to trade stocks, commodities, penny stocks, etc.
Oh, I currently trade with Oanda through Tradingview and I'm considering TDAmeritrade. I can get around the PDT rule but I'm not in a hurry and would probably like to start with penny stocks with something like $5-10k I think? The problem is I'm just unsure. My personal philosophy is that demo trading is useless after buttonology. Instead I have found that trading small amounts of real money provides much better results in the long term.
Pullbacks are the bane of every trader's existence. Judging the strength and lasting power of a pullback is an endless quest. A good idea is to find an indicator that reliably identifies pullbacks in your currency pair and your timeframe, whether RSI, Stochastic, or some other method.Here are some swing trader concepts of how to take advantage of pullbacks in Forex trading: This study is an alternative Pullback Tool to my previous versions "Pullback Trading Tool R#.# by JustUncleL". This version aims to provide a cleaner but powerful trading tool. It incorporates the majority of the indicators needed to analyse trade Trends for Pullbacks and Reversals. You can optionally use Heikin Ashi candle or Renko charts. The ... Trend trading is suitable for many markets, such as stocks or forex trading, and it can be applied to beginner or experienced trades. One good technique when trading trends is to enter after a pullback, as the direction will move back to its original trend. However, another popular technique is taking the approach of entering after a breakout, which can be more beneficial. ForexMT4Indicators.com are a compilation of forex strategies, systems, mt4 indicators, mt5 indicators, technical analysis and fundamental analysis in forex trading. You can also find systems for scalping such as trends, reversals, price actions. Trading on a lower timeframe like 1 minute to long term trading are also imparted here. We aims to be a place where every forex traders can gain ... Thursday, December 15, 2016. Trading Pullbacks In Trends Forex Broker Mit zwei einfachen Trendlinien können Sie die Stärke komplexer Pullbacks feststellen. (Was bedeutet komplex? Mindestens ein dreibeiniger Pullback). Tradingregeln – Trendlinien-Theorie (Pullback) Zunächst müssen Sie lernen, wie man eine 0-2-Linie und 0-4-Linie zeichnet. In einem Aufwärtstrend ist Punkt 0 das extreme bzw. höchste Hoch des ... Hi there, Sounds cliché, but I believe we’ve created the “ultimate” trend trading solution for retail FX traders like you and me. This “Better Trend Trading” indicator helps you identify ALL trading opportunities during an established trend, including those “hidden” setups most traders overlook. That way, you could profit as much as possible from these established trends, by ... I have always felt as a Forex trader that breakouts do not tend to work very well in trading Forex, compared to the way they work when trading stocks and commodities. It also always seemed logical to me that the pullbacks in trends would have the most profitable entries, as the price logically travels the furthest from these areas in a trend. What I was not properly appreciating was the fact ... Trends and pullbacks go hand in hand with one another. As sentiment swings back and forth from optimism to pessimism, so does the ... The most common strategy for trading pullbacks is to go in the direction of the trend. Here we time the entry to maximize the swing back to the trend. For a swing trader, entry and exit timing as well as fill price is everything on trading the pullback. Get this ... Pullbacks happen in both up and down trends. A multitude of tools are available. A multitude of tools are available for pullback strategies, including moving averages, Fibonacci retracement tools, support, lines, resistance lines, trendlines, round numbers, Bollinger Band indicators, and many others. What you choose to use is purely a personal choice, but there are some very common trading ...
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Measuring Retracements/Pullbacks in Trends http://www.financial-spread-betting.com/academy/trading-with-the-trend.html PLEASE LIKE AND SHARE THIS VIDEO SO WE... CONTACT: EMAIL: [email protected] WEBSITE: www.teamtakeprofits.net FACEBOOK: Jay Wayne INSTAGRAM: JayTakeProfits Master The Trend Line Strategy - Fore... Easiest #ForexSTRATEGY - How to trade pullbacks in the #forex market. forex pullback trading strategy, pullback vs reversal, what is a pullback in forex, pul... 95% Winning Forex Trading Formula ... Tactics for Buying Pullbacks In Strong Trends 👊 - Duration: 10:09. UKspreadbetting 9,538 views. 10:09. The Stock Market Is About To Drop - Again - Duration ... Trading pullbacks in Forex can be a good idea if done right. At No Nonsense Forex, there is only one way to do it properly. Discard the rest. Your bottom lin... Is it smart to trade on pullbacks? If so, does that style work on Forex? We find out in this week's video. Sign up for the email list here: https://scottwels... Trading a Pullback. http://www.financial-spread-betting.com/course/what-is-a-trend.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! Going deeper now ...