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MapleStax Trades Profile picture
@MapleStax
Dec 4, 2021 • 9 tweets • 3 min read • Read on X
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Setups and Formations you need to know!

🧵 A THREAD 🧵

These are some of my most profitable and consistent setups that I use on a daily basis. Learn them and profit!
#ChartHashira
1. Technical analysis is the embodiment of displaying the dialogue that price action tells between bears and bulls. Setups/formations are all based on probability, meaning the outcome may give you an edge when taking entry.
2. Channel:
Provides a range of price that displays 2 levels to either be broken or respected. My favorite setup.
3. Ascending/Descending wedge:
Shows a steep rise or decline in price action that holds right to the supporting TL in either direction. If the support fails, expect a drop.
4. Head and shoulders:
This is a transition setup that shows points of possible reversal through pivot price action. Give the trader a HL confirmation with defined risk. Works on the inverse as well for shorts.
5. Break and Base (retest):
This setup is great for momentum/breakout buyers that alerts strong confirmation when taking a resistance break trade. Buy high, sell higher with a defined SL.
6. Rounding tops/bottoms:
Strong VPA pattern that will show either buyer or seller exhaustion and a point of potential reversal.
7. I look for and use these formations on a regular basis. Remember that like all strategies, these will not work 100% of the time. Probability is the game, find your edge and execute!
LINKS:
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LAST MONTH to lock in current rate.

Twitch Livestreams:
Twitch.tv/MapleStax
#ChartHashira

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More from @MapleStax

MapleStax Trades Profile picture
Jan 8, 2022
🧵My 5m/10m Doji bar Strategy🧵

(A THREAD)

This is how I use my Doji bar strat to gauge price action during moments of indecision. High win % rate.
#ChartHashira
1. For myself, I identify stages intraday into 2 phases: consolidation and trend.
When coming off of a large trend, we expect momentum to slow as traders need to lock in profit and decide if they will continue the rally. The opposing traders have an opportunity to reverse.
2. At these points of consolidation (indecision/balance) you will come across the scenario of a Doji bar on the 5 or 10 minute chart. When this occurs, I draw a zone on the body to identify where buyers and sellers are fighting over.
Trading version tug of war.
Read 8 tweets
MapleStax Trades Profile picture
Dec 18, 2021
🧵 How to trade with a Stop Loss🧵

(A THREAD)

This thread will help you identify and execute a proper Stop Loss in order to minimize losses, every trader’s biggest problem.
#ChartHashira
1. Before entering any trade, you must have a level to base risk off of. This will allow you to manage how much you are willing to risk as well as staying in the trade based on a support level. (Trading with the larger participant in the market) Without a SL you are just gambling
2. I look for strong signals of VPA/Candlestick patterns to look for areas where buyers or sellers are present. This will show up as a horizontal level where price has trouble getting through. This allows for a low risk entry. Indicators are great for following a trend.
Read 12 tweets
MapleStax Trades Profile picture
Dec 12, 2021
🧵 How to Trade Market Open 🧵

(A THREAD)

This thread will detail how I play the open on LC Options, but can be applied to anything. This strategy will provide a clear risk to reward parameter that you need in order to give yourself and edge.
#ChartHashira 🍁
1. Each morning I will set alerts on VIX, SPY, and NQ at key resistance/support levels to give myself awareness throughout the day without taking my eyes off my execution screen. I then go to the ticker(s) I plan on trading that day.
2. I look for any patterns or formations on the micro and macro trends. I mark the Prev HOD/LOD, PM high/low, as well as the high and low right before close if they are significant. You should have 2 channels.
Read 9 tweets
MapleStax Trades Profile picture
Dec 11, 2021
🧵 How to grow a small account🧵

(A THREAD)

This thread will detail a simple method on how to grow your small account from a psychological standpoint. These are my self realizations.
#ChartHashira
1. If you are trying to grow a small portfolio, you must establish that focusing on “home run” trades develops unrealistic and unhealthy habits for newer traders. Small wins compound not only gains, but also skill.
2. Identify whether you are a swing or day trader. In either instance, I recommend a cash account for most traders. T+2 for equities, T+1 for Options. Don’t limit yourself by PDT restrictions. Set a goal (R/r) for each trade. You can make a living on only 10-20% wins.
Read 13 tweets
MapleStax Trades Profile picture
Nov 28, 2021
How I review charts to improve my trading! The key to my success.

🧵 A THREAD 🧵

I will simply explain my process when reviewing my trades/charts each day. This is how you will acclimate yourself for quick analyzation and execution during your trading session.
#ChartHashira
1. I review each of my trades each night to identify what I executed incorrectly and what I traded well that day. This has been my biggest influence in trading that led me to the consistency and success I have today. Screen time is green time. Study yourself.
2. I start off by looking at the chart from a top down approach by timeframes. I look at the Daily, Hourly, 10m, and 5m. I draw the trends and formations I see on the chart to show the bigger picture trend I may have missed during market hours. S/r, S/D, pivots, flags, etc.
Read 13 tweets
MapleStax Trades Profile picture
Nov 27, 2021
How to trade weekly 0DTE options!

🧵 A THREAD 🧵

This is my approach on trading very volatile and profitable options contracts with 0 days to expire.
1. 0DTE contracts are risky, but with increased risk comes greater reward. The truth of the matter is that you do not need to risk a large % of portfolio to make insane gains. Always watching first 3 OTM contracts closest to being ITM.
2. Each morning I analyze $QQQ (or whatever ticker you want to trade) and find the channel that price is consolidation in. I look for highs/lows prior to close or the highs/lows of ext. hours.
Read 13 tweets

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