10 ways for traders to take profit @ForexBooks(1).pdf
1.1 MB
✅10 ways For Traders to Take Profit
⚠️Taking profit is one of the most neglected topic among traders
⚠️Taking profit is one of the most neglected topic among traders
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The Mental Game of Trading - Jared Tendler, M.S_.pdf
5.4 MB
The Mental Game Of Trading
A system for solving problems with Greed, fear, anger, confidence, and discipline.
A system for solving problems with Greed, fear, anger, confidence, and discipline.
18 Trading Champions Share Their Keys To Top Trading Profits.pdf
2.1 MB
18 Trading Champions Share Their Keys To Top Trading Profits
Head and shoulders:
The head and shoulders is a bearish reversal pattern with a baseline (neckline) and three peaks. The two lateral peaks should roughly be at the same price level, while the middle peak should be higher than the other two. The pattern is confirmed once the price breaches the neckline support.
Inverse head and shoulders:
As the name suggests, this is the opposite of the head and shoulders – and as such, it indicates a bullish reversal. An inverse head and shoulders is formed when the price falls to a lower low in a downtrend, then bounces and finds support at roughly the same level as the first low. The pattern is confirmed once the price breaches the neckline resistance and continues higher.
The head and shoulders is a bearish reversal pattern with a baseline (neckline) and three peaks. The two lateral peaks should roughly be at the same price level, while the middle peak should be higher than the other two. The pattern is confirmed once the price breaches the neckline support.
Inverse head and shoulders:
As the name suggests, this is the opposite of the head and shoulders – and as such, it indicates a bullish reversal. An inverse head and shoulders is formed when the price falls to a lower low in a downtrend, then bounces and finds support at roughly the same level as the first low. The pattern is confirmed once the price breaches the neckline resistance and continues higher.
Educational Post📕
Sticking to stop loss is a must to do when (BUYING the DIP)
Opening a position without setting a stop loss is a big mistake and it can be disastrous when buying the dip !
Here, we show a tempting setup to open a long position in rectangle (1). It is of course OK to go long in this setup in the hope of catching possible up coming up going wave shown in green.
But without setting a stop loss? Not at all ! Followings are just two simple possible scenario which may happen:
Rectangle (2) shows a scenario which may happen if lucky. Although it will bring us profit, believe me it bothers all the traders a lot emotionally.
Rectangle (3) shows a terrifying scenario which can whip out all our capital ! Please keep it in mind that " Preserving capital is a first rule of trading ". If you think this is an unrealistic scenario just take a look at #ETSY , #SHOP, #SQ and #ROKU.
Sticking to stop loss is a must to do when (BUYING the DIP)
Opening a position without setting a stop loss is a big mistake and it can be disastrous when buying the dip !
Here, we show a tempting setup to open a long position in rectangle (1). It is of course OK to go long in this setup in the hope of catching possible up coming up going wave shown in green.
But without setting a stop loss? Not at all ! Followings are just two simple possible scenario which may happen:
Rectangle (2) shows a scenario which may happen if lucky. Although it will bring us profit, believe me it bothers all the traders a lot emotionally.
Rectangle (3) shows a terrifying scenario which can whip out all our capital ! Please keep it in mind that " Preserving capital is a first rule of trading ". If you think this is an unrealistic scenario just take a look at #ETSY , #SHOP, #SQ and #ROKU.
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