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How To Draw Supply And Demand Zones (The Essential Guide)
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[When it comes to trading indicators, less is more]
Here’s the thing:
Having more indicators on your chart does not increase your chances of a winning trade but only gives you analysis paralysis and not taking the trade.
You’d probably get better results if you only had a handful of indicators on your chart!
That’s why we want to have an indicator that can single-handedly:
• Determine your entries
• Determine how you’ll take profits
• Determine your stop loss
Having fewer indicators keeps your charts clean and helps you make faster decisions which will make your trading process much more efficient.
Things I ask myself before a trade:
1 What's the market structure, range or trend?
2 Where are the major SR areas?
3 Can I lean my stops against SR?
4 Where would opposing pressure come in?
5 How is price moving, chop or clean?
6 Volatility expanding or decreasing?
[The longer it ranges the harder it trends]
If you notice the price has been ranging for a long time, you’re not alone.
Traders all around the world will be seeing the same charts as you.
Some will be queuing to short the resistance, and some will be trading the breakout.
If the price does trade above the resistance, shorts will get squeezed, and breakout traders will hop on the bandwagon.
That’s why price trend for a sustained period of time, due to the imbalance of buying/selling pressure.
If you want to grow your account from $500 to $1000, don't be a trader.
Get a job.
It's faster and has lower risk.
[How to use trading indicators like a pro]
You don’t want to have multiple indicators from the same category because they are correlated and doesn’t provide any new information.
That’s like trying to get your wife pregnant in one month by “firing” incessantly. It doesn’t work.
And it’s the same for trading.
So, the rule of thumb is this:
Have only one indicator for each purpose.
I’ll explain…
If you want to trail your stop loss, you can use either the Moving Average or Chandelier Exit — but not both.
Or if you want to time your entry, you can use either the RSI indicator or Stochastic, but not two together because they have the same purpose.
Does it make sense?
$100 to $200 is a 100% gain.
$1m to $2m is a 100% gain.
You need money to make money in trading.
A monster guide to candlestick patterns to teach you everything you need to know about candlestick patterns without memorizing a single one
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4 Techniques To Profit From a Stock Market Correction
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Do you want to read candlestick patterns like a professional trader?
Then download a FREE copy of The Monster Guide to Candlestick Patterns.
You'll discover how to "predict" market turning points and better time your entries & exits—even if you have no trading experience.
Click the link below and grab your copy, it’s free!
https://www.tradingwithrayner.com/candlestick-pdf-guide/
A detailed guide on how to trade chart patterns like a pro even if you have no trading experience
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Trend Reversal Trading Strategy Guide
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MACD Indicator Explained
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A Beginner's Guide To Ichimoku Cloud Strategy
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[How to trade like a casino]
Here’s the thing:
Every casino in the world has an edge over the players.
But, why are some casinos more profitable than others? And why do some casinos even go bankrupt?
On the surface, it seems like all you need is a statistical advantage over the players for you to mint money.
But, that’s only one small part of the equation.
You must also figure out how to…
- Attract new customers from competitors
- Retain existing customers
- Incentivize customers to spend more
- Keep your customers happy
- Etc.
Clearly, there are a lot of moving parts and one person can’t manage everything.
So, how does a casino do it?
The secret is this…
A casino has systems for everything they do.
For example:
#1: A casino has a system in place to incentivize their best customers to come back often by offering perks like free accommodations, transport, etc.
#2: All dealers follow a systematic way of playing Blackjack so the casino can consistently increase their revenue (and not leave it to the discretion of a dealer).
Now you might not be running a casino but, you’re managing your own trading business.
So, how do you manage it like a casino?
Well, you must have systems in place.
For example…
Risk management to ensure you don’t lose everything on a single trade.
Source of funds so you can pump in more money to your account and scale up your trading business.
Trading strategy so you have a fixed approach to enter & exit your trades — which improves your consistency.
Research & development so you can build new trading strategies and profit in different market conditions.
In other words, if you want a sustainable trading business that generates consistent profits, then you must have systems in place so your actions are consistent.
How to Identify Trend Reversal Patterns (The Ultimate Guide)
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The Essential Guide To The ABCD Pattern
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Do you want to learn how to systematically beat the markets?
Then get your copy of The Essential Guide to Systems Trading (For Non-Programmers).
You’ll discover systematic trading strategies that work so you can beat the markets consistently even if don’t know a single line of code.
Learn More 👉 https://www.tradingwithrayner.com/essential-guide-to-systems-trading/
Forex Market Vs Stock Market: Which One Should You Trade?
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How Long Does It Take To Be A Profitable Trader?
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A Beginner’s Guide To Ichimoku Cloud Strategy
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How To Grow A Small Trading Account
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[How to use trading indicators like a pro]
A mistake almost all new traders make is to add many indicators onto their charts, regardless of whether the indicators have a purpose, or not.
But as you know, having more indicators doesn’t mean a thing. Instead, they only add “noise” to your trading and make things more confusing.
So, the rule is this:
Every trading indicator on your chart must have a purpose.
For example…
If you want to identify the trend, then you can consider the Moving Average.
If you want to time your entry, you can consider Stochastic or RSI.
If you want to trail your stop loss, you can consider Chandelier Exit or Moving Average.
So, if there’s an indicator on your chart and you can’t find a purpose for it, exterminate it.
Trading doesn't solve your money problems—it amplifies it.
Читать полностью…
[Why you lose money with trading indicators]
Here’s the thing:
There are profitable traders out there who use indicators in their trading.
And you’re probably thinking:
“Since they are making money with these indicators, why don’t I just copy them?”
So, that’s what you do.
You follow the same indicators, settings, instructions, etc.
But, you still lose money with trading indicators.
Why?
Because what you see is only the surface, not the complete picture.
Here’s an example:
Let’s say Michael is a profitable trader who relies on trading indicators to time his entries and exits.
Now, the reason why Michael finds success with indicators is not that he found the “perfect” settings or whatsoever.
Rather, it’s because he knows how to switch gears and use different indicators for different market conditions.
So if you were to blindly follow what he does, then when the market changes, your trading indicators will stop working and that’s when the bleeding starts.
I wasted years trying to find a perfect trading system.
Then I realized it doesn't exist.
Instead, it's about knowing your goals as a trader and then adopting the right system that fits with it.
[Why you lose money with trading indicators]
Many traders don’t know how this game is supposed to be played.
They believe the answer lies in the “right” combination of indicators that will make them rich.
So they buy the latest trading indicators to help them crack the code.
And after many failed attempts, they wonder why they lose money with trading indicators.
Do you want to know why?
Here’s the truth…
Indicators are a derivative of price. They simply indicate to you what has happened, not what will happen.
So, no matter how many different combinations you try, you’ll never be a profitable trader if you solely rely on trading indicators to make your decisions.
Trading indicators are meant to aid your decision-making process, not be the decision-maker.
Many traders think you need to take high risk for high returns.
Wrong!
You should risk small, let your edge play out, add capital, and compound your gains over time—that's how you make it BIG.
Candlestick Charts Explained
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The Essential Guide to Price Action Trading
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