Materials and concepts I spent hundreds of hours on before I became profitable as a day trader:
[A 2022 updated #GivvyEdu thread]
[A 2022 updated #GivvyEdu thread]
1/
Watch this video on Naked Trading to help understand trends and trendlines.
Watch this video on Naked Trading to help understand trends and trendlines.
2/
Memorize basic chart patterns and candlestick meanings.
Memorize basic chart patterns and candlestick meanings.
3/
Practice drawing trendlines on charts and look at how price reacts when they are broken.
Practice drawing trendlines on charts and look at how price reacts when they are broken.
4/
Engrain these key concepts from the video in your brain right next to the “know how to breathe” section.
Engrain these key concepts from the video in your brain right next to the “know how to breathe” section.
5/
Watch another video on how to identify supply and demand to really nail it in your brain.
Watch another video on how to identify supply and demand to really nail it in your brain.
6/
Be able to identify supple and demand areas at various trendline points. This is when you enter a trade. Buy demand (pullback) on an upward moving trendline, sell supply (breakdown retest) on a downward moving trendline.
Be able to identify supple and demand areas at various trendline points. This is when you enter a trade. Buy demand (pullback) on an upward moving trendline, sell supply (breakdown retest) on a downward moving trendline.
7/
Review a written summary (instead of a video) to further enhance your understanding of supply and demand.
dotnettutorials.net/lesson/supply-…
Review a written summary (instead of a video) to further enhance your understanding of supply and demand.
dotnettutorials.net/lesson/supply-…
8/
Review charts of trades you either did or didn’t make during the day and draw out where you think supply and demand zones are. See if they would have been profitable or not.
Review charts of trades you either did or didn’t make during the day and draw out where you think supply and demand zones are. See if they would have been profitable or not.
9/
Key concept - 4 hr or daily zones are used when trading smaller timeframes.
Key concept - 4 hr or daily zones are used when trading smaller timeframes.
10/
Review the following charts that show a trendline break following supply or demand. These are HIGH PROBABILITY trades. @Montana_Trades posts incredible charts as well.
Review the following charts that show a trendline break following supply or demand. These are HIGH PROBABILITY trades. @Montana_Trades posts incredible charts as well.
11/
Key concept - pump and dump traders. DO NOT TRADE LIVE ALERTS FROM FURUS. Not all of them care about you and most use your entries as points to sell their trades, which leave you in the red.
Key concept - pump and dump traders. DO NOT TRADE LIVE ALERTS FROM FURUS. Not all of them care about you and most use your entries as points to sell their trades, which leave you in the red.
12/
Respect your cash. The amount of money you can make when you become a good trader is unlimited. The amount of money you can lose in the process is not unlimited.
Respect your cash. The amount of money you can make when you become a good trader is unlimited. The amount of money you can lose in the process is not unlimited.
13/
Make a plan and TRUST it. You are smarter than you think you are. If you don’t have high confidence in your trade, don’t take it.
Make a plan and TRUST it. You are smarter than you think you are. If you don’t have high confidence in your trade, don’t take it.
14/
Watch @OGInvest daily educational streams in the Givvy Crypto Lounge. He is an incredible teacher and shows basic trading skills in real time.
Givvytrades.com
Watch @OGInvest daily educational streams in the Givvy Crypto Lounge. He is an incredible teacher and shows basic trading skills in real time.
Givvytrades.com
15/
Don’t be a perma bull or perma bear. Trendline breaks and supply and demand zones work both ways. I’ve made more money shorting trendline breaks back down to demand than anything else.
Don’t be a perma bull or perma bear. Trendline breaks and supply and demand zones work both ways. I’ve made more money shorting trendline breaks back down to demand than anything else.
16/
If I’ve helped you out in any way, feel free to throw me a tip through the icon in my profile. Shameless tip jar plug here 💵.
If I’ve helped you out in any way, feel free to throw me a tip through the icon in my profile. Shameless tip jar plug here 💵.
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