Pivot Points can be very helpful when you want to catch the end of a move. I will demonstrate this with an example of my recent gold trade. Catching bounces – is it worth it These are set-ups with an excellent risk to reward ratio. It’s easy to open positions with possible 1:5 or higher […]
It’s been a tumultuous week for silver and gold. Many hoped that the silver squeeze movement would lift silver prices above the recent high. It was supposed to be the beginning of an all time high move. However, this did not happen. What went wrong? How did the Pivot Points behave? Paper silver prices are […]
The most crucial element in building a trading strategy is backtesting. It is with the help of backtesting that you can: check if your strategy works modify it check the potential for new ideas. The small downside of backtesting – it takes time, especially if you want to test strategy on more instruments. In this […]
Basic info about day trading Scalping can be a good way to make money. Still, it is hard, but in this guide, I will teach you more about it. Remember: this guide contains ideas and information based on my experience. There is no one correct approach to scalping. Other traders may use a different set […]
How to improve your strategy? Work on specific parts.
Today I want to talk about the common mistake that I see among traders. You see, there are many different strategies. Some based on price action, patterns. Some based on technical indicators. The list goes on. You can catch trend with them or catch reversal moves.
Renko is another kind of candles. The most popular are candlestick charts, but there are many others types of charts created in Japan. There is for example Kagi, Three Line Break or Renko chart. Lets focus on Renko.
You can build very good strategy around pivot points. Thanks to them, you are trading with tools used on trading floors. We have few types of pivot points: daily weekly monthly and others, based on time frame
Similar to normal pivot points, but it is more ready trading system. Created by trader Nick Stott in the end of 80’s it still being used by many traders. We have lines:
