Free to the entire trading community: Get my "Cycle Indicator" tutorial at go.topdogtrading.com/freetrainingclass BE CAREFUL OF COMMENTS BELOW! Scammers are getting much worse!! They are using my name and logo in comments to trick you. DO NOT EVER send money to someone from the comments, DMs, discord, telegram, or WhatApp. Long comment threads of "people" (bots) giving names of people making them lots of money are FAKE! 😡
Biggest problem for me is stop hunting by the big players. In the past I have tried to put my stop loss far enough away from possible stop hunting levels, but still getting hit. It appears that market makers and possibly other big players can see stop loss orders and take you out. One memorable time I placed a stop loss at a level that should have been far away enough from price action to be safe, and I used an odd number price for the stop loss. The market moved EXACTLY to my top loss price level for a brief instant, and then moved in the direction that my initial analysis said it likely would. I know about using multiples of ATR for stop loss, and I know about swing highs / lows & support / resistance levels, and using the distance from the current price level to the stop loss level to size the position, but it seems that no matter what, my stop loss gets hit VERY frequently, and then usually right after that the market moves in the direction that would have made me a nice profit if it weren't for the stop loss. If you can cure that problem, you're my hero.
Thank you for sharing your experience in such detail. My response is that when you have that experience, of being stopped out no matter where you place your stop, it's the place of your ENTRY that is the problem, not the stop.
should teach about trading styles/plans. Day trading on indexes is a thing, day trading on oil gold and pther futures is another. Multi day is different. Each asset has its own volatility patterns. Swing trading on stocks is another and so on. How many stocks at a time? understand sectors cycles and so on.
Absolutely! Understanding different trading styles and plans is crucial for success in the market. Each asset class has its own unique characteristics and it's important to adapt your strategy accordingly.
At one time, you aimed for a one percent stop loss. Other pros aim for a two to. three percent stop loss. Have you altered your stop loss percentage? I never want to lose more than two percent. Why? Sooner or later, I will experience four losses in a row...total eight percent. On a hundred thousand account, my emotions would not be fried. Whereas a three percent, losing twelve thousand would unbalance me.
Free to the entire trading community: Get my "Cycle Indicator" tutorial at go.topdogtrading.com/freetrainingclass
BE CAREFUL OF COMMENTS BELOW! Scammers are getting much worse!! They are using my name and logo in comments to trick you. DO NOT EVER send money to someone from the comments, DMs, discord, telegram, or WhatApp. Long comment threads of "people" (bots) giving names of people making them lots of money are FAKE! 😡
Wishing you and your's a very Happy New Year and a prosperous 2024...
A prosperous New Year to you too Robert!
Great video and strategy. Do you use the average/smoothing and/or histogram at all or just solely the MACD line? Thanks.
I use the average/smoothing line too, but personally I don't use the histogram.
Biggest problem for me is stop hunting by the big players. In the past I have tried to put my stop loss far enough away from possible stop hunting levels, but still getting hit. It appears that market makers and possibly other big players can see stop loss orders and take you out. One memorable time I placed a stop loss at a level that should have been far away enough from price action to be safe, and I used an odd number price for the stop loss. The market moved EXACTLY to my top loss price level for a brief instant, and then moved in the direction that my initial analysis said it likely would. I know about using multiples of ATR for stop loss, and I know about swing highs / lows & support / resistance levels, and using the distance from the current price level to the stop loss level to size the position, but it seems that no matter what, my stop loss gets hit VERY frequently, and then usually right after that the market moves in the direction that would have made me a nice profit if it weren't for the stop loss. If you can cure that problem, you're my hero.
Thank you for sharing your experience in such detail. My response is that when you have that experience, of being stopped out no matter where you place your stop, it's the place of your ENTRY that is the problem, not the stop.
happy new year Barry. Have a healthy year!
Thank you so much, Happy New Year to you too Richard!
should teach about trading styles/plans. Day trading on indexes is a thing, day trading on oil gold and pther futures is another. Multi day is different. Each asset has its own volatility patterns. Swing trading on stocks is another and so on. How many stocks at a time? understand sectors cycles and so on.
Absolutely! Understanding different trading styles and plans is crucial for success in the market. Each asset class has its own unique characteristics and it's important to adapt your strategy accordingly.
At one time, you aimed for a one percent stop loss. Other pros aim for a two to. three percent stop loss. Have you altered your stop loss percentage? I never want to lose more than two percent. Why? Sooner or later, I will experience four losses in a row...total eight percent. On a hundred thousand account, my emotions would not be fried. Whereas a three percent, losing twelve thousand would unbalance me.
I agree, 2% is max for me personally.
I see progres in your video edition.
Thank you for noticing! Yes, I've been working on it.
very good pre-course questions, but the text overlay is very big and distracting
Thank you for the feedback.
I think the text overlay is a good thing. Please keep it up!