Quick 1min scalp on $ETH (all publicly shared in Telegram - not as a sigal, but to show the principles we're learning together do work)
- Shared a trading plan
- Reassessed the Potential Trade, Entry Made
- New Trade Plan Shared
- Trade Managed Per Plan
- Conclusion
☑️Shared a Trading Plan
I thought that we might get an entry at a restest of an recent OB or breaker, as we were hovering on a Market Structure Break.
This didn't eventuate and the plan was invalidated dur to PA and MSB occuring
☑️ Reassessed Potential Trade, Entry Made
After seeing the MSB, I was looking for an entry at a bearish OB, or a breaker for entry
Here we see entry made at a restest of the MSB, which also saw a breaker in place that contributed to resistance
☑️New Trade Plan Shared
After the reassessment, I shared that I had set alerts at each planned TP level per the image below (and also SL to let me know that this trade sucked if it did - you can also give yourself shit as you do this in the alert message when it pings you!)
☑️Trade Managed Per Plan
TP 1 was hit
TP 2 hit
SL to BE
TP 3 hit
Final TP hit, trade closed
☑️Conclusion
I'm sharing this to show that the principles from the course we're studying work, and that you can trade this way...you just need to keep showing up and having a go.
Note: I could have just been lucky on this trade, so you can't be a smart arse about these things!
Thanks as always for your support - so many new audience members across several channels, and I really do appreciate your ongoing kind and lovely comments too.
Cheers guys, have a good weekend, and say hi to your mum for me
🤝🍻
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Alright guys, a head spinner from Module 4, Ranges & Targets:
As price is fractal in nature, we can work out a ratio from our Timeframe Based Range setup, to a workable timeframe to manage a $BTC #bitcoin trade on
Here we set up a range on the 1D, but manage on the 15M
As price is fractal in nature, if we work out a ratio of TF used to establish a range, to TF used to manage a trade, we get 96 (1,440 mins in a day / 15mins)
Using this logic, we can then trade a range on any timeframe based on this ratio, from scalping to swing trading
You can essentially use exactly the same technique (that we are learning), on a ratio'd timeframe of established range to a timeframe that you manage your trade on, that suits your style or the PA that is presenting
(ie daytrading set up not presenting, but scalping looks good)
I mean, this isn't like the course is the best thing since sliced bread, but I would like to acknowledge a few people out of respect, motivation, & for those who inspired me
-The 2017/18 market:
Without you I wouldn't be here now after having my arse kicked by you!
Your videos and educational content are what set me off down the rabbit hole of learning how to trade, which I've used greatly as inspiration for this course, and I am forever appreciative of your influence on not only me, but many others as well
- Overall
- Value Area Trading (VAT)
- FRPV
- FVG
- Trend Reversal
- Conclusion
(this is a bit of a sneakpeek into VAT that I'll be sharing in my free course that releases in the new year that you can use on any #Crypto or #cryptocurrency
Overall:
BTC has been in a range (to a certain extent) since the start of December (some call it diagonal, I call it a series of ranges within a range)
We're now seeing some MSB to the upside, which *could* signify a trend reversal...but, let's keep reading first
VAT
Did you know that if you turn off the price of the ticker that you're observing, and then turn on VPSV, you can get a clear view of Volume Profile Session Volume?
This is really handy without the noise of price on the chart for determining poor lows and highs etc
You've no doubt asked yourself this so many times, but how can you personally define this in recognising where you have an edge?
There's a few ways that aren't reliant on immediate data that this mini- thread can hopefully help with:
Risk Management:
If you're following the practice that I shared and learnt from ICT, then you're already ahead. See below:
- Risk 1% max at a time;
- If you lose 4 trades in a row, cut to 0.5% risk
- Don't graduate back to 1% until you recover half of the losses at 1%
Risk Management Cont'd
- If you lose another four trades, then cut risk to 0.25%
- Graduate back up to 0.5% when you recover half your losses experienced at 0.5%
- Then graduate back to 1%, again, when you recover half the losses at 1%