Daily trend trading strategy
Scalping likes to jump into cool water immediately, please. Hello Frances, thank you for reading and leaving the supportive comment. Very glad to be of some help to you. Yes, it is definitely a more risky strategy and I do not recommend it for most traders. However, you mentioned that it is trading on hope and not reality, but that is the very reason that I do want to be in line with the trend; so that it is not just me hoping it will turn around, but I have concrete evidence that the trend is still in my favor and I can add to the position in an area that makes sense.
Minimizing your losses is a good and smart way to trade; I suggest you continue to do so, but you can add to positions without getting out of hand. Many successful strategies include adding, but you have to be very strategic in how you manage the trade. Hi Robert, thanks for reading and the educational comment.
Your approach makes a lot of sense. I would like to learn more about you strategy. I have no doubt believing that some of the time frames are not necessary depending on how you trade, but for me, I like to get a perspective on all three.
Trading with the Trend - 6 Ways To Identify The Direction Of The Trend -
This helps me know if it makes sense to add to my trade or just cut it off. Hey, thanks for reading and leaving the comment! Yeah, for a very long term trader, the smallest time frame may not be necessary, but it may help with more precise entries. I mean, even if you plan on holding the trade for 2 or 3 weeks, it doesn't hurt to start of strong, ya know? Hi Josiah, thanks very much for reading and sharing your thoughts. I appreciate the positive comment! Hi, thank you for reading and leaving a great comment. You are right that it is not necessary, but for me, it solidifies what is going on in the market in my head.
It makes sure that I know what is going on and I don't get caught up in a certain set-up when it is not in accordance with the rest of the market flow. Hey Prakash, thank you for reading and leaving a comment. Yeah, it is just a way to get a better view of things, and it can definitely be used with counter trend trading as well. Great strategy. Trend Trading is one of the best ways to minimise risks, and still make a decent profit.
Thanks Nathan. Interesting article.
Trend trading is a long-term approach to trading.
However what you are doing is complicating your trading needlessly with all this. Its very easy to see the trend, just look at your chart! Thanks for reading.. Well, that is exactly what I am doing. I am looking at my chart to determine the trend However, I am just looking at it from more than one view to ensure that I have a better understanding of the trend than just the way it looks on the time frame I happen to be looking at at the moment.
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Hi, thanks for reading and leaving some thoughts. You make a good point about the trend being too far from the actual trade set-up, especially with the 15 minute set up.
I think you make a good point about perhaps not being with the trend at all because it takes to long to determine but I do still like to know that the long term trend is with me, especially if I want to add to the trade. I intentionally gave this counter trend example to explain that there are two types of traders a a Swing trader who leaves his trades open for more than a day b a interactive trader who closes his trades when he is away from the screen The method you outlined is good for swing trading Hi Rajan, thanks for reading and leaving a great comment.
I do agree that there are very different types of traders.
Many interactive traders do not use the trend at all and are still very profitable. I like to use the overall trend just for the purpose of momentum being on my side and using the adding strategy that I mentioned, but you are right in everything you said. Thanks again! Dear Nathan, Very interesting. New in trading though but have always been told "trend is your friend".
The question is how ofter can we see all these trend aligning? For a H1 timeframe trader, I initially held the believe that H4 and possibly Daily would suffice Great work. Do we expect that you will launch a software to easily identify these for traders? Very interesting article. Cheers Matt. Hi Matt, thanks for reading and leaving the comment. I do think that for a 1hr trader, taking more than just 4hr into account is a good idea. Also, creating a piece of software to identify this would be a great tool! I didn't even think of it really Your trend strategy is very wise.
I know because trading this way almost never result is any substantial loss. Thanks for a good article. Forex Trading for Beginners. Shooting Star Candle Strategy. Swing Trading Strategies That Work. Please log in again. The login page will open in a new tab.
After logging in you can close it and return to this page. Info tradingstrategyguides. Facebook Twitter Youtube Instagram. How To Do Trend Analysis? Which one is actually the trend? Long-term: Monthly and Weekly. Short-Term: 15 Minute, 5 Minute, 1 Minute. Now, if you are a trend trader, you can use this idea as a filter for your trades. If they look like this: Then you would not take that set up because all of the time frames do not support you. If you see a strong 15 minute buy signal and your three-time segments look like this: Then you would be okay to take the trade because all the time frames agree with you.
Thank you for reading! Also, please give this strategy a 5 star if you enjoyed it! I am most great-full for these secretes revealed. I have been struggling with my trades in the past years and months with no understanding of the market. God bless you abundantly.
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Excellent article. I now see something forming possibly like this on Gbpusd. Thank you. Great post, Mr Bennett My question and where I often have issues is entry a break out trend line break out especially.
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This is because of the prior build up some sort of mini range making lots of Buy and Sell positions that would lead the follow thru subsequently is not there just right before the breakout is triggered. This would happen more often if the breakout is in down direction.
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You are too much. Thanks a lot. Please, keep it up. So, my questions now are: 1 After i execute such a trade, clustering can also be used to determine when to leave the trade.