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TRADING ROUTINE THREADHow should your trading day be?
What should you do before trading.
We will explore everything in this post.
A THREAD.
1. First hour- Scanning.
Look for Chart Patterns. Only chart patterns and nothing else for the first 30-60 minutes of 50 coins or your favourites.
Scan. Find patterns and see which one seems the best.
This is the first routine. Find patterns.
Any or All patterns.
Look for Chart Patterns. Only chart patterns and nothing else for the first 30-60 minutes of 50 coins or your favourites.
Scan. Find patterns and see which one seems the best.
This is the first routine. Find patterns.
Any or All patterns.
2. Choosing the trade.
After scanning, choose which chart to trade.
It can be any pattern but analyse it's strength.
Eg. In a symmetrical triangle, if the touches are very strongly bouncing with a green candle on the lower trend-line, it's likely to go up.
After scanning, choose which chart to trade.
It can be any pattern but analyse it's strength.
Eg. In a symmetrical triangle, if the touches are very strongly bouncing with a green candle on the lower trend-line, it's likely to go up.
3. Preparation to entry.
Before entering, Decide your position size as per risk management.
This is far more difficult than it sounds and this is the reason why 99% of the traders fail.
Follow the principles of risk Management.
Here is a quick Primer- https://t.me/EmperorbtcTA/370
Before entering, Decide your position size as per risk management.
This is far more difficult than it sounds and this is the reason why 99% of the traders fail.
Follow the principles of risk Management.
Here is a quick Primer- https://t.me/EmperorbtcTA/370
4. Choosing Entry.
Don't rush and enter.
CHOOSE your entry.
If you're expecting a pull back, then WAIT for it.
If you like the volume and see a divergence now, then enter now.
WAIT for a trade, slow down.
Use S/R, Fibs and Volume.
Some strategies-
https://t.me/EmperorbtcTA/261
Don't rush and enter.
CHOOSE your entry.
If you're expecting a pull back, then WAIT for it.
If you like the volume and see a divergence now, then enter now.
WAIT for a trade, slow down.
Use S/R, Fibs and Volume.
Some strategies-
https://t.me/EmperorbtcTA/261
5. Fix your invalidation.
BEFORE you enter, YOU MUST have set your invalidation level.
WHERE will you exit when trade goes wrong.
As soon as this level gets hit, exit. Don't think too much.
Search for Stop Loss in this link- https://t.me/EmperorbtcTA/378
BEFORE you enter, YOU MUST have set your invalidation level.
WHERE will you exit when trade goes wrong.
As soon as this level gets hit, exit. Don't think too much.
Search for Stop Loss in this link- https://t.me/EmperorbtcTA/378
6. Profit Taking.
Take the exit on Reversals and a fixed aread.
Fixed areas are to be used for S/R but my aim is to maximum the good entries.
So instead of fixed TP, exit on signs of reversal.
Search for " Reversal" in telegram
Take the exit on Reversals and a fixed aread.
Fixed areas are to be used for S/R but my aim is to maximum the good entries.
So instead of fixed TP, exit on signs of reversal.
Search for " Reversal" in telegram
Conclusion.
Start with chart scanning for opportunities.
Choose a few best ones.
WAIT for entry triggers.
FIX invalidation.
Once in a trade, don't panic if you trust in your system but do monitor for reversals.
Start with chart scanning for opportunities.
Choose a few best ones.
WAIT for entry triggers.
FIX invalidation.
Once in a trade, don't panic if you trust in your system but do monitor for reversals.
Hope you liked this thread.
The advices mentioned above are far more difficult to implement than to read, so please try.
All the best.
The advices mentioned above are far more difficult to implement than to read, so please try.
All the best.
