RAVIN

Saturday, May 30, 2020

TRADING LESSON

If you always feel disappointed by your trading performance, you are probably judging that performance against some arbitrary ideal that doesn't account for your level of experience, your account size, risk tolerance, and the capabilities of your trading system.

You need to be disciplined and rigorous to start day trading. A common day trader problem is that they lose it and deviate from their strategy.

Some time can pass before you realize you’re not strictly following your initial strategy. This troubles the success rate of the strategy and breaks your odds. A good way to tackle discipline issues is to write down the exact rules of your strategy and stick the note to your monitor so it will be always in front of you during trading sessions.

This way, you’ll constantly be reminded to follow your strategy rules. In each of the above trades, we’ve carefully calculated the outcome. You should do so, too, to be familiar with what exactly can happen to you in every trade.

When you get more experienced, it gets easier.

Identifying the right stocks for Intraday trading involves isolating the current market trend from surrounding noise and then capitalizing on that trend. Certain features—liquidity, volatility, and correlation—characterize the best intraday trading stocks, but it's also important to apply the right entry and exit strategies. Studying trendlines and charting price waves can aid in this endeavor. There are many ways to trade, and none of them work all the time. That is why sometimes it is just best not play. If the conditions aren't providing a good environment for deploying your strategies, save your money for when they are.

Rule of trading, and one I always need to remind myself:

Control your ego.

A big ego will turn a good trader into a terrible trader overnight.

Your next trade doesn’t care how good your previous one was. Consistency is everything.

We all take losses, don’t add poor ones.MR.singh

Source:- https://t.me/TradingEducations

Decode - TTIRIS

Thursday, May 28, 2020

KCF Talk Show 'Journey Of Hinduja Group' featuring Gopichand P Hinduja, ...

Journey Of Hinduja Group' featuring Gopichand P Hinduja, ..https://www.youtube.com/channel/UCrQ0BxqYDUA4o12WQQpBqLw/videos

Bear Market Summit

Check out Bear Market Summit that I just joined!https://vrlps.co/3RiLmJj/cp

Featured Masterclass Sessions

In this virtual summit, each of the 16+ carefully selected world-class traders will be delivering impactful and actionable trading bear market trading knowledge to you.
Every speaker has committed to conducting a 30-45min presentation / demonstration to share with you their trading strategies, workflow, and best practices. These are practical tips that you can immediately apply to your trading business and improve your profitability even in a volatile bear market environment.
On top of that, Philip (the summit host) will also conduct a 15-30 minutes Q&A segment with the speaker right after their presentation on your behalf, to seek clarifications and get them to elaborate on certain aspects of their presented topic.
No matter if you are a beginner trader or a seasoned trader, you will learn something new from this summit.

Five sure-shot ways to lose money in Stock Market | Webinar

Source :- https://economictimes.indiatimes.com/topic/et-market-webinars/videos

Everyone talks about making money in stocks. Nobody tells how you may
put yourself at the risk of losing your hard-earned money. Join Varun
Malhotra, ...

Wednesday, May 27, 2020

The Pin Bar trading strategy

Source :-https://www.youtube.com/user/octafx/videos

Trading with Engulfing Candlesticks: Main Talking Points

Engulfing patterns in the forex market provide a useful way for traders to enter the market in anticipation of a possible reversal in the trend. This article explains what the engulfing candle pattern is, the trading environment that gives rise to the pattern, and how to trade engulfing candlesticks in forex.
Keep reading for information on:

What is an engulfing candlestick and how do they signal a reversal of current trends in the market?
There are two engulfing patterns to look out for: bullish engulfing and bearish engulfing patterns.
Engulfing candle trading strategies

What is an Engulfing Candlestick?

Engulfing candles tend to signal a reversal of the current trend in the market. This specific pattern involves two candles with the latter candle ‘engulfing’ the entire body of the candle before it. The engulfing candle can be bullish or bearish depending on where it forms in relation to the existing trend. The image below presents the bullish engulfing candle.

bullish engulfing candle at the bottom of a downtrend in forex suggests potential reversal

Unfamiliar with candlestick charts? Read: How to Read a Candlestick Chart

Types of Forex Engulfing Patterns

There are two engulfing candle patterns: bullish engulfing pattern and the bearish engulfing candle.
1) Bullish engulfing pattern
The bullish engulfing candle provides the strongest signal when appearing at the bottom of a downtrend and indicates a surge in buying pressure. The bullish engulfing pattern often triggers a reversal of an existing trend as more buyers enter the market and drive prices up further. The pattern involves two candles with the second candle completely engulfing the ‘body’ of the previous red candle.
Interpretation: Price action must show a clear downtrend when the bullish pattern appears. The large bullish candle shows that buyers are piling into the market aggressively and this provides the initial bias for further upward momentum. Traders will then look for confirmation that the trend is indeed turning around by making use of indicators, key levels of support and resistance and subsequent price action after the engulfing pattern.

bullish engulfing pattern appearing at the bottom of a downtrend

2) Bearish engulfing pattern
The bearish engulfing pattern is simply the opposite of the bullish pattern. It provides the strongest signal when appearing at the top of an uptrend and indicates a surge in selling pressure. The bearish engulfing candle often triggers a reversal of an existing trend as more sellers enter the market and drive prices down further. The pattern involves two candles with the second candle completely engulfing the ‘body’ of the previous green candle.
Interpretation: Price action must show a clear uptrend when the bearish pattern appears. The large bearish candle shows that sellers are piling into the market aggressively and this provides the initial bias for further downward momentum. Traders will then look for confirmation that the trend is indeed turning around by making use of indicators, levels of support and resistance, and subsequent price action that occurs after the engulfing pattern.

Bearish engulfing pattern appearing near the top of an uptrend

Why are Engulfing Candles Important for Traders?

Engulfing candles assist traders to spot reversals, indicate a strengthening trend, and assist traders with an exit signal:

Reversals: Spotting reversals are self-explanatory – it allows the trader to enter a trade at the best possible level and ride the trend to completion.
Trend continuation: Traders can look to the engulfing pattern to support the continuation of the existing trend, for example, spotting a bullish engulfing pattern during an uptrend provides more conviction that the trend will continue.
Exit strategy: The pattern can also be used as a signal to exit an existing trade if the trader holds a position in the existing trend which is coming to an end.

A limitation of the engulfing candle can arise when the pattern turns out to be more of a retracement than a definite change in direction, but traders can look for subsequent price action to reduce the likelihood of this undesirable outcome.

Engulfing Candle Trading Strategies

Using the Engulfing Candle Reversal Strategy
Traders can look to trade the bearish engulfing pattern by waiting for confirmation of the move by observing subsequent price action or to wait for a pullback before initiating a trade.
See below for guidance on how to trade the engulfing candlestick pattern observed on the GBP/USD four-hour chart.

GBPUSD 4 hour chart showing how to trade the bearish engulfing candle pattern

Entry: Look for a successful close below the low of the bearish engulfing candle. Alternatively, traders can look for a momentary retracement (towards the dotted line) before entering a short trade.
Stop: Stops can be placed above the swing high where the bearish engulfing pattern occurs.
Target / take profit level: The target can set at a previous level of support while ensuring a positive risk to reward ratio. The risk to reward ratio is depicted by the green and red rectangles.

Using the Engulfing Candle When Trend Trading
Engulfing candles don’t always have to appear at the end of a trend. When viewed within a strong trend, traders can glean information from the candle pattern pointing towards continued momentum in the direction of the existing trend.
For example, the below chart shows a strong uptrend in the S&P 500 with the appearance of multiple engulfing patterns (in the direction of the trend) adding more conviction to long trades. Traders can enter a long trade after observing a close above the bullish candle.
Furthermore, this example includes the presence of a bearish engulfing pattern (red rectangle) that appeared at the top of the trend, signaling a potential reversal. However, subsequent price action did not validate this move as successive candles failed to close below the low of the bearish engulfing candle and the market continued higher – thus underscoring the importance of validating the pattern.