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If you've watched those, now consider this chart, hopefully you can see what has happened

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@Caseynotes,

I agree with you that successful traders are not born and are made. Many great 'Trend Followers' state they were inspired by Jesse Livermore. So I agree with you on this point. 

4 hours ago, Caseynotes said:

The best traders are employed by institutions and sit at a desk alongside other traders swapping info and ideas all day long. New traders at a institution's trading desk will get a mentor whether they want one or not.

Not necessarily. From my understanding some of the best traders trade for themselves and make a lot of money. These people will never be in the limelight or media and will be totally under the radar. The people who work for the institutions will be excellent traders who are highly educated and experts in 'Quants'. It does not necessarily mean they are the best traders. A lot of the best end up setting up their own Hedge Fund or create their own trading system which is unique to their trading style, personality and philosophy. So yes Good and Excellent traders are employed by institutions but the very best trade for themselves and make an awful lot of money for themselves. These traders no one ever hears about. The good and excellent traders will get paid a handsome salary from the institutions with commissions. The best traders who trade for themselves will dwarf the incomes of such employees. 

I agree that by putting it down on paper and writing it down will assist. I know it does for me so I can only imagine it does for many others.

As I have stated many times, having a 'Trading Plan' and 'Trading Strategy' is crucial. Once this is in place the traders personality and mindset will allow a creation of a 'Trading Philosophy and Style'  this leads to the use of 'Technical Analysis' in my opinion. I see time and time again traders concentrating on 'Technical Analysis' without a 'Trading Plan'. 'Trading Strategy' and 'Trading Style' even under consideration. The 'Trading Edge' will come with lots of experience afterwards but for many it will never come. That is fine. One does not necessarily have to have a 'Trading Edge' to be profitable or successful but in my opinion the the very most successful and profitable traders do have some form of 'Edge'. 

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On ‎29‎/‎12‎/‎2018 at 14:50, elle said:

If you've watched those, now consider this chart, hopefully you can see what has happened

Capture es.PNG

 

Capture es.PNG

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that supply is being "eaten up "

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On ‎29‎/‎12‎/‎2018 at 16:19, elle said:

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Hi @elle. I'm starting to like your suggested 150EMA. Have you got another EMA favourite that you use?

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Posted (edited)

@Nelsy-Boy the others will have to remain a secret, sorry

Edited by elle

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Swap Zones , a battle between buyers and sellers sometimes happen halfway on a trend . If you see one developing , put your fib on , so the zone is @ the 50% level & then look for price to extend to 100%  . Please note , as usual, this is NOT guaranteed, but useful to look out for.    Here's one that just happened

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This is an excellent piece by CryptoCred where he writes about those who have influenced his trading style. He explains exactly what core principles he has gained from each and how those principles have been incorporated into his own actual trading.

This is real core 'need to know' on actual trading from real traders rather than the woolly type of stuff you get from the usual crop of educators and chart technicians.

As mentioned in the piece these guys also have many hours of online videos you can look up to get a fuller understanding of the concepts contained within the article.

https://medium.com/@cryptocreddy/lessons-from-my-trading-teachers-77b4ca13cf83

image.png.429f7b3af75358f4ca8e3b693c77cf2c.png

 

 

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Interesting short article from Steve Burns on using moving averages.   

Moving averages allow traders the ability to quantify trends and act as signals for entries, exits, and trailing stops. They can become support and resistance, and give the trader levels to trade around. Below are examples of the specific moving averages with time frames.

  • 5 Day EMA: Measures the short term time frame. This is support in the strongest up trends. This line can only be used in low volatility trends.
  • 10 day EMA: “The 10 day exponential moving average (EMA) is my favorite indicator to determine the major trend. I call this ‘red light, green light’ because it is imperative in trading to remain on the correct side of a moving average to give yourself the best probability of success. When you are trading above the 10 day, you have the green light, and you should be thinking buy. Conversely, trading below the average is a red light. The market is in a negative mode, and you should be thinking sell.” – Marty Schwartz
  • 21 day EMA: This is the intermediate term moving average. It is generally the last line of support in a volatile up trend.
  • 50 day SMA: This is the line that strong leading stocks typically pull back to. This is usually the support level for strong up trends. Use 50-Day Average For Trading Signals
  • 100 day SMA: This is the line that provides the support between the 50 day and the 200 day. If it does not hold as support, the 200 day generally is the next stop.
  • 200 day SMA: Bulls like to buy dips above the 200-day moving average, while bears sell rallies short below it. Bears usually win and sell into rallies below this line as the 200 day becomes resistance, and bulls buy into deep pullbacks to the 200 day when the price is above it. This line is one of the biggest signals in the market telling you which side to be on. Bull above, Bear below. Bad things happen to stocks and markets when this line is lost.

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