Trading Strategy Part 2
www.YourTradingCoach.com Trading Strategy Video Part 2 – My favourite trading strategy (strategic level)
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Categories: forex technical analysis Tags: Part, Strategy, Trading
check my channel for video’s about daytrading and trade like me in forex (EUR/USD, CAD/JPY etc.), stocks (coca-cola, phillips etc.), commodities (gold, silver, oil etc.) and indices (Nasdaq, Nikkei etc.
check my channel for video’s about daytrading and trade like me in forex (EUR/USD, CAD/JPY etc.), stocks (coca-cola, phillips etc.), commodities (gold, silver, oil etc.) and indices (Nasdaq, Nikkei etc.
@Swissbank1
Hi Swissbank1,
Thanks for your vid comment. I’m not sure what you mean by profit bar, but to answer your question… no. Most people trying to trade just candlestick patterns within a simple S/R market structure will lose. There’s so much more. Risk mgt, trade mgt, money mgt, trading psych issues. You need time to gain experience… It’s a continual learning process – trial & error & gradual improvement. Anyone who says otherwise is lying!
Cheers,
Lance Beggs
(yourtradingcoach)
Lance, would it be right if I were to trade only using either candlestick or profit bar within the market structure?
watch my channel for more video’s about daytrading and reviews from brokers
@cesime
Yeah, I never said it’s easy.
At the higher conceptual level of this video, it is this simple. All effective trading is simply pullbacks, tests of S/R or b/outs.
However I agree 100%. There’s a lot of detail not covered in this vid that makes trading extremely difficult, taking years to master. eg. pullback vs reversal, how to enter, exit etc. My website provides some guidance, but it’s really a gradual learning process – trial & error, review & improve. Gotta love it!
Cheers
LB
If it was only that easy.
Thank you for offering solid and workable ideas/concepts for trading success.
Cheers, Lance.
Hi locatelliorso,
Thanks for your comments. No, I’m not a fan of fibonacci, but then a lot of traders are using it very successfully. So if you can believe in it and it give you good results, stick with it.
Happy trading,
Lance.
Fantastic! You don’t use the Fibonacci Retracement?
Thanks
Hi merlinforever,
Glad you liked the video. I don’t have firm plans for a course at this stage – although I need to sit down in the next week and plan the website for 2009. This will likely include a course or at least some more advanced instructional videos. I’ll be sure to notify everyone through the newsletter as soon as they’re available.
Cheers,
Lance Beggs (yourtradingcoach)
Thanks… Lance.. hope you will be coming out with your own home learning program trade soon, so i can purchase it. Your a great person for doing this and a great Coach.
Hi x0xOne,
Glad you liked the video. All traders have a different appetite for risk, and see the market in their own way. Some like S/R, others prefer breakouts, and of course there are many other styles as well. Ultimately it’s about finding what you’re comfortable with. I’m glad you’ve been able to find breakouts to be reliable.
All the best for a prosperous 2009.
Cheers,
Lance.
Thank you for your video, but i have tried many systems, such as trade in the range, trade at support or resistance are not much success. i think trading the breakout is more reliable, well that’s my system. thank you any way.
Hi AM2M,
Your welcome. I’m glad you enjoyed it. There’s lots more to come too.
Cheers,
Lance
YourTradingCoach
Thank you for your candor, and real and useful information. Most of the trading strategies here are infomercial junk. Thank you for workable trading advice. I feel fortunate to have found you today and followed everything you said with ease. Thank you.
Hi watchmylips,
I first look at the hourly chart (each candle being one hour) to identify areas of major support or resistance. These areas are identified by previous turn points, areas of congestion and gaps (if your chosen market gaps).
I then look to the 1-5 min charts (1 – 5 min candles) to identify the trend, minor support or resistance and the current pattern sentiment.
You’ll get more info in the other video – Trading Price Analysis / Price Action.
Thanks,
YourTradingCoach
Hi
When you say “based on an hourly chart” is the whole chart you see 1 hour, and then, what are each candle?