There is a famous saying on Wall Street: mediocre traders trade with technology, and top traders trade with faith. The difference between mediocre traders and trading masters does not lie in the level of technology, but in trading faith and trading inner strength.
As a trading process, both old and new investors always have these questions:
What is a cycle, what is a large level and a small level, how long should I hold, and where is my target position? These are questions that bother many people.
I will talk about my own experience and market cycle strategy. Of course, many people may disdain it. It is a virtue to stick to your own point of view. But I will reply to you with a sentence from the book.
"Wall Street Ghost" said: There are still people who want to successfully embark on the road of stable profit by learning the trading methods and strategies introduced in a book. This is a huge joke.
Let’s get into the topic:
Why do others have inherited orders for the bottom, but why does he always succeed in reaching the top?
That is the cycle, multiple time cycles, multiple cycles include annual chart, weekly chart, daily chart, 4-hour chart, 1-hour chart, 15-minute chart, etc.
By using multiple periods for horizontal and vertical analysis, we can better understand the trading situation in each time period.
Here is the LSTD analysis:
L stands for Location, which means the position, which determines the current price in the market in the long time period;
T stands for Trend, which means trend. In the medium time period, it determines which trend the current price belongs to;
S and D stand for Supply & Demand, indicating the supply and demand ranges, and decide whether to short in the supply area or go long in the demand area in a small time period.
The directional analysis determines the direction, and orders are made directly in different cycles. This is why others have hereditary long orders. Because the order-making cycles are different, others can touch the top because a reversal occurs at the top of the supply zone of the cycle.
(As for the continuation of the larger trend, it is to make a profit-loss ratio, reduce positions and let the profits fly.)
Psychological analysis:
There is no good or bad trading system, nor is there any good or bad indicator. Many people have a profitable trading system but cannot execute it at all, largely because they doubt the system and do not have a firm belief in their trading system. We must have not only a trading system, but also a belief system. The spirit and ability of a person, like the army, also rely on the support of his will and belief.
The number of times and time of watching the market are different in different cycles. If you are doing it at the daily and weekly levels, and your plan has been made, constantly watching the market will only interfere with your strategy. When you are in doubt, your trading plan has failed.
First of all, when we get an order with a good position, we must have a clear goal: no matter how the dog dealer washes, pulls and smashes, we will not be moved, that is, we will not deliberately change the K line in a short time, because we will often be deceived by the dealer out of the order.
We only open orders when we have a clear mindset of stop loss and take profit. That is, we rely on technical analysis before opening an order. After opening an order, we stick to the principle of stopping loss wherever it is, ignoring the market. For taking profit, we choose to stop profit in batches until we reach the short position.
Waiting for the next opportunity, good hunters are good at waiting.
Here is an example of an intraday order:
Preparation before placing an order:
Look at the daily line, 4-hour line, 1-hour line, and 15-minute line of the currency you want to trade, and have a general understanding of the overall market situation. Then write down your order opening plan, what operations to make at what price, and set alarms for key price points on the market-watching software you usually use. When the alarm comes, operate according to the plan. If there is no alarm prompt, take a look at the trend again to see if it does not meet your original expectations and whether you need to change the original operation plan.
In general, the continuity of trading and the change of cycles are not suitable for newcomers. Newcomers will have a high winning rate when entering the market at a large level. Okay, I have finished talking nonsense, and I hope it can be helpful to everyone. (Thank you all for following me, I will try my best to squeeze out my value)
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