Trading Strategy Part 1
Tuesday, December 14th, 2010 at
11:54 pm
www.YourTradingCoach.com Strategy Video 1 – The importance of defining market structure, not just an entry trigger.
Tagged with: Part • Strategy • Trading
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@ZaphodUk1
Hi ZaphodUk1,
Good idea, but being largely discretionary my entry & exit videos will need a lot more time than is available via a 10 min YouTube video.
Still, it’s in the plans for ‘one day’.
In the meantime, see my website for the article series on ‘How to Conduct an Effective Trading Session Review’. That’s the key to improving your entries and exits – identify hindsight best-practice, and replay it in a sim.
Cheers,
Lance.
Hi Lance, I’ve been following your videos and finding them really helpful. I’m still a bit shaky with my entries though, so was wondering if you’d be kind enough to make a video of some trades you’d take and others you’d pass on with possible entry points. thanks
@silentalley14
Hi silentalley14,
It’s been a LONG time since I made that video, so I’m not 100% sure of the indicators used in that example. I can confirm it’s a stochastic (14,3,3) and some form of bands. I’d imagine bollingers would have expanded more rapidly at the 2 large red candles approx 2/3 thru the chart, so my guess would be it’s Keltner Channels rather than BB’s.
Cheers,
Lance.
At 3 min, is that a bollinger band with slow stochastoc oscillator?
@platinumplusenter
Thanks platinumplusenter,
Much appreciated. Glad you enjoyed the video.
Cheers,
Lance
(youtube: yourtradingcoach)
Very good video, clear and easy to understand. Thank you
Hi bripowered,
Thanks for your questions. Unfortunately I don’t know the timeframe or indicator parameters from this example. The fact is that I don’t trade with bollinger bands or stochastic. These were simply used in this video to demonstrate the concept . As mentioned, my strategy is outined in video part 2 (high level concept only).
Happy trading,
Lance.
Also..what time frame is being used in this example?
what are the parameter settings on your stochastic oscillator and your bands?
Hi nisshenvj,
Thanks for your comment. The best way to answer your question (cause YouTube only allows 500 character responses and it’ll need a LOT more than that) is to recommend some basic trading & TA books. Something like Alexander Elder’s Trading for a Living, or Martin Pring’s Introduction to Technical Analysis. Or search online – there’s lots of info there. The ‘babypips (dot) com’ site has a good forex based education, although the TA is applicable to all markets.
Cheers,
Lance.
Lance, I am a novice investor I am not sure whether you will reply to my queries.
1. Usually when the market opens the trend varies That means a chart can only be obtained after the days closing. So how can we find a entry trigger and stop other than speculation??
2. From other videos I came across the words like 5 ,15,30mins candles, 100/200 days moving average, , Would you be able to give some about what is this?
Excellent explanation and tips!!!
Thank you for sharing!!
good work !