Wanted to start a thread dealing with how I view Indices and Stocks. This thread may evolve like my other thread as we move along.
Also please know I’m not a pro, my style may not be for everyone, and you’ll see I’m going to lose. Part of the game, if you don’t like losing or don’t have a good relationship with fear. Trading may not work out for you. I place no more value on one trade then the other cause you don’t know which ones are your winners and losers. Also if you have a system then you have to take each trade that falls under your systems guidelines cause…that’s right you don’t know which ones are your winners and losers(see there’s a pattern there). Now this is under the assumption you’ve backtested your system and know it has a winning edge(duh). Once that is established then why wouldn’t you take the trades? Isn’t that why you’ve placed so much time in learning and studying?
Trading Style and How I Setup My Charts
- Trade off the 15min and sometimes 30min timeframe.
Trade more off accumulation zones or supply and demand(whatever you want to call them). I still pay mind to support and resistance as well. Just use whichever offers the better set up.
I don’t try and guess where the next zone is going to happen(if they’re not already located), sometimes you have to wait and see. Then react to it, let the chart tell you what’s going on. Don’t try and guess where it’s going. Have a plan and stick to it, but make that plan before you enter into a trade.
Also don’t get to attached to a zone, they will fail at some point. Then we just locate the next one, no big deal.
- I place my orders at the high or low of the accumulation with the stop usually on the other side of said zone.
- My TP is usually at the other zone, I may take some profit off once it reaches halfway and also move my SL to BE. But I also will exit if I feel like the trade has ran it’s course and that’s done off just seeing the chart and making a decision. All trades are closed at end of week.
Length of Trade:
Indices: Sometimes I’m in a few minutes and sometimes I may hold it for a few hours.
Stocks: Usually a couple hours but may run into holding a day or two.
Indice and Stocks I Trade:
US30, NAS100, SP500, AUS200, GER40, JPY225, UK100
Apple(APPL), Amazon(AMZN), Alibaba (BABA), Bank of America (BAC), Facebook (FaceBook), Google (GOOG), Microsoft (MSFT), Netflix (NFLX), Nvidia (NVDA), Pfizer (PFE), AT&T (T), Tesla (TSLA), V (Visa), WalMart (WMT), Zoom (ZM)
I trade using CFD’s and not having to trade with the traditional of having to buy shares and such. Since FTMO is located outside the US it allows me to be able to trade Indices and Stocks using CFD’s.
Links to Videos:
Al Brooks - Trading the Open and Scalping
Weekly Roundup Post and Journal
Week of 10-31-21
I’ll post some examples as well after this post.
Also don’t mind posting other stocks and indices so we can all look and discuss.
It’s going to be difficult for me to post live trades in here due to our exchange being open while I’m at work. I don’t have a computer screen, I’m out in the field.
So this thread may also be move of a review and such. But feel free to ask any questions and maybe post a few up as well. Let’s keep the timeframe from 5min through 30min charts if we can.