Many traders up till today do not know or have no adequate knowledge on Inducements & when a valid inducement has been formed on their trades
This entry criteria is one that is Quite simple but yet misunderstood by many
A Thread🧵🪡
You're all welcome💯❤️
This thread contains enlightenment that would be super beneficial to you & many other traders, so it'd be selfish if we don't first Repost the first post in this thread above so others get to see, read & benefit from this
Done that ??
Let's get started
Ladies & Gentle men
You're welcome
Distinguished traders & Technical Analysts, I welcome y'all 💯❤️
In this Thread, we'd be looking at 3 things
▫️The Inducement Theory
▫️Valid Inducement
▫️Inducement Entry, Models & Type
At any point you do not understand pls ask questions
What are INDUCEMENTS?
Inducements are simply internal range liquidities lying close to an area of value or an entry
Think of Inducements in this fashion
Liquidity + Entry = Inducements
Meaning without an Entry or a POI an internal range liquidity cannot be called an Inducement
What is a Valid Inducement ?
A Valid inducement is one which lies close to an area of value, and has taken out the previous level(high/low) that created it.
Image below
What are types of Inducements ??
▫️Equal Highs
▫️Equal Lows
▫️Trend line Liquidity
▫️Double Break (SMC trap)
An Explanatory video below just in case it didn't sink in properly 🫶❤️
Now that is out of the way, let's look at some real live chart examples on Inducements and see how they're engineered in the market
Do take note of the criteria that makes an Inducement a valid one and be on a lookout for them below
Case Study on EURUSD
Look closely or better still, zoom in for clearer view
Left = A Case Study on EURUSD
Right= A Case Study on GBPUSD
2 Case Studies on GBPUSD
Some more examples to strengthen the illustrations
Video Explanation
Case Study 1
Video Explanation
Case Study 2
Lastly being that → Because price actually seeks these inducements first before going for the entry, placing your entry points at the Inducements will guarantee that you never miss your entry on any trade
The only downside being that your RR on the trade will reduce
Example ⤵️
That'll be all for this thread
If you understood & enjoyed everything thus far, give me a follow here @Techriztm & @X100Learnground
Weekly I put out great contents like these to help you on your journey as a trader.
Assignment for a $6k Stellar Challenge account below
Assignment
3 Students would be given a $6k Stellar Challenge based on the neatness of their submission & their compliance with the request
▫️Find where an Inducement played out perfectly on EURNZD chart 📌
Good luck !!
And because the internet is an oasis of information these handles below are definitely a few of them you should never joke with if you want to learn and grow as an Analysis
IT TOOK ME 12 MONTHS TO BAG A SINGLE PAYOUT FROM A PROP
FIRM‼️
If you're struggling to make your first payout from a prop firm, here's an advice from someone who went from 12 months of struggle to consistent payouts
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2022 was the year I began or was introduced into prop firm.
Something that seemed like the start of a new ease in my trading journey was unknown to me long months of frustration.
It took 12 long months without a single payout for me to break free to consistent payouts
Every step forward felt like I was met with 2 steps back in those 12 months
At times I questioned if I was cut out for this industry at all. But deep down, I knew that giving up wasn't an option.
What changed? It wasn't just refining my strategies or learning risk management
I’ve said this a lot,
One of the very worse things you can do as a beginner trader is announcing your status as a trader during your first few years of discovering yourself
Here are 5 Important reasons to build first & announce later.
A 🧵🪡
1) “It helps you Avoid Extra Pressure”
Family can add pressure by asking for updates on your trades or expecting fast success from you in order to man the family’s problems
By reaching profitability first, you can focus on trading without feeling rushed.
2. “It helps you Prevent Disappointment”
Trading has ups and downs, especially early on in your journey.
Waiting until you’re profitable avoids disappointing family if things don’t go well at first or you don’t meet up to their expectations
My journey coming up as a medical student and trader wasn’t so difficult
I usually tell people that appropriate scheduling and Discipline kept me on my ten toes and made my work 10X more effective even whilst attending classes
Below are 7 key things I did differently
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1) Wake up before everyone‼️
Waking up before others gives you a head start advantage above others at your day.
I woke up early, primarily to schedule my to do list for the day, attend to yesterday’s unfinished work and pray over the days activities (putting it into Gods hands)
2) If you fail to plan, then you have planned to fail📌
Understanding this also gave me a competitive advantage over my day, because I understood that everyday was like a task unfinished and so I had to plan how best to approach those tasks
A Quasimodo type entry is seen to occur when pride raids through a thought to be known valid demand or supply and quickly returns back to reclaim the block before continuing or reversing a trend
Zoom in image and Study
Because they don't happen regularly in the market as opposed other entry types
These are a few examples I have sculpted out for you to study