Other Flashcards
Ichimoku cloud - didn’t note extensively
What’s Fib used for?
Retracements mostly -
It’s used quite subjectively by traders
What am I building
“A bank roll”
For HHPWP
home
Health centre
Purpose work place
Once a pro what can I do?
Teach Upworker to find setups for me
Or get into paid groups Nils has
Buy or design software that finds setups
Trade success probability enhancers when it comes to trading clean double cross (CDC)
1 - good (L)…. Selection
2 - second break is (s)…….. and (f)………
3 - false …….
4 - trend …….. (c)
1 - good level selection
2 - second break strong and fast
3 - false breaks / wick spikes
4 - trend continuation (trade with the trend)
When market is trending
“It’s harder to find an MA that doesn’t work than one that does”
What is FTA - describe it
Don’t hunt what?
Don’t hunt trend reversal
Fear; doubt, closing winners too early
Totally ignore what whilst trading
And why?
PnL
Need to focus on market structure, levels and Risk reward according to those levels
1 Frequently miss out of opportunities due to following checklist?
2 - checklist often gets you into bad trades
1 Make checklist less stringent
2 need to improve checklist
Many losses?
Do what?
Be more lenient if strategy is back tested
But need to use intuition and experience to decipher bad patches from actual bad systems
What does crypto cred do if 3 losses in a row
Usually cuts positions size by 50%
What does trading journal need to record space for?
Feelings and emotions
What position size is the right number?
It’s the number that puts you in the right headspace to trade
What does CrEd do what winning
And what does he do when losing
Winning - use unchanged parameters for position size
Losing - reduce
Win rate probability enhancers
Find reversals that are in line with the d…. T….
What’s the question to stop arbitrary moving of stop to break even / marginal profit?
If I had no position and price moved to break even / margins profit…
- would I see this area as invalidation, if no, putting a stop there is random,
Should you move stop if risk reward has changed significantly (totally ignoring current profit of the trade)
Yes
What not to do when you’ve just lost a trade
4 things
Dd
R
Sy
Fl
- double down
- revenge trade
- abandon system
- assume market has flipped / trend reversed
Crypto crEd - backtesting
He uses it loosely, it’s useful loosely
What is an FTA
First trouble area
The air your trade is most likely to run into trouble ONCE it’s going in the right direction
Options if LTF FTA stalls price on its way to HTF FTA that is exit
Options if price gets through LTF FTA on way to take profit
Do what?
Add what?
Move what?
1 - do nothing
2 - compound / add to position
3 - move stop to new invalidation
For mental clarity
Have buy and hold longs in cold storage separate accounts
Then have trading account
Danger of swing highs and lows
Too much noise
Crypto Cred’s quote about his worth trading periods
Searching for certainty spelt doom
Good setups that fail are often good what?
Hint
Trades in the
Trades in be opposite direction
1 Higher high?
2 Lower low
3 long invalidation LL
4 short invalidation
1 This is bullish
2 This is bearish
3 lower low
4 higher high
Ok the right green writing is the short sequence to produce a trade - narrate the left for the same for a long
What are missed trades?
Totally normal
When are break outs or downs likely to fail
Hint
Retest
When retest spends more time at trend line or boundary
What’s likely when in a range / chop?
Hint
Things fail
What can we do
Breakouts or break downs will fail
Trade the range, and counter trade the overthrows / deviations / fakeoutz
Don’t predict trend reversal before seeing it, why
We have indicators like MA which can be good
Trying to predict ahead of time usually fails
