Learn a Tool - Long & Short Position on TradingView
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- Опубликовано: 14 мар 2021
- Learn how to use the long and short position tools on TradingView to calculate your risk to reward ratio and speed up and simplify your cryptocurrency trading and investing process!
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great video just have one question: what does the quantity mean in terms of lot size? for example, it my quantity on my tool is .08, does that mean my lot size is .08? because with a 300$ account a .08 lot has a really high pip value so obviously that means the lot size for my account should not be .08. please help me with this i have yet to find anyone that can explain this to me.
I have seen a lot of videos about this topic, but No one has explained it clearly as you did. Thank you so much. You have just added a subscriber to your channel.
Simple and clear for beginners exactly what I was looking for. Great video bro!
A great tool for planning trades. However, it doesn't seem very efficient to plan it all with this tool to then have to enter all the values in manually afterwards to actually place the trade. Would be much more efficient to have a place trade button with this tool especially if you're trading on quicker time frames like 1 minute or lower.
Anybody trading 1min will most definitely lose money
This is the comment all us newbs were searching for ..........
I can't figure out how to place multiple trades in different places either, for example, if I wanted to place a PUT just below current market price and a CALL just above current market price (to see which way the market will go), I don't see how to place both those pending trades at one time?
I was unable to get a simple explanation on how the short tool operates and what it actually means as a trade until I fell across this, great vid TY!
Great lecture, exactly what I was looking for . Rare to find such clarity.
Exactly what I been looking for. As a beginner I miss the really basics to get started and as mentioned below most educational courses miss the elementary basis explanation. Thanks a zillion.
You're welcome, Jan de Wit!
Hi, can you actually enter the trade using this tool or does one have to then enter the numbers manually?
Great question, Wayne. You have to enter the trade on the exchange that you're trading on.
@@leutheria5001 I'm sorry to interfere, can u explain that part in detail
@@splashbrother210 Sure, Charles. Once you use the long or short position tool to calculate your entry point, stop-loss level, and take-profit level, then you can go to an exchange like Binance or Coinbase and execute those orders. To set your orders, you can use order types like limit orders or stop-limit orders. The values you put in the limit orders on the exchange will be based on your calculations using the long or short position tool.
@@leutheria5001 thx man
Hey maybe it depends which exchange your using but if your using one thats supported by tradingview you can use the tool to draw up the trade then you double click the rectangle and you can choose create limit order. All the numbers and risk will then be in the order and you just press sell or buy in the limit order.
can you place the trade using the tool on tradingview or do you manually have to do it yourself on an exchange ?
This will help so much knowing my risk % and value of TP and SL. Can you please send a link for the risk to reward ratio indicator that you're using?
Thanks for a great intro to the LP/SP tool! Always wondered what the different numbers are, but I just can't wrap my head around how the R2R is important when price conditions changes so much. I mean, that would affect R2R right? Also how do you know that price won't just continue coasting up when you reach your profit target? If you sell everything, then you miss out on a ton of profits. Isn't a stop-loss at the profit target better, to see if you can gain higher levels?
I see that adjusting the prediction box vertically increases the risk/reward ratio, but how do you know how wide to make the prediction box?
I' m glad you explained what percentage means on the position sizing tool. Other youtube content on this subject fail to give an explanation of something as obvious as that
You're a wonderful teacher!👍
Going to watch all your content😊
🤓📚 Hope you find it as useful as we intend for it to be! Thank you for watching!
Very good vid! I have a question: I understand the tool partially. Because if I want a risk of 2% of my account how do I know which amount I can use? Or is it based on the total amount already?
Thanks so much, l was looking for this for a very long time. God bless you.
God bless you, Channel of knowledge! We're very happy that you enjoy it. If you know anyone else interested in learning how to take advantage of this tool, share this video with them! :)
Thanks a lot! It's hard to find good beginner videos, all of them go really fast and assume you already know the tools. I'm just learning about trading and this was really helpful! Cheers!
Do you set it up on trading view and enter on the phone mt4? Or do you place trades from trading view? Can i do the challenge on trading view for my forex funds?
Does using this tool actually enter you in to the trade if it reaches ypur entry price or is it kist a reference?
Hi, may I ask how to shorten the horizontal length of these tools. Sorry, just a newbie and having a hard time customizing its size it takes time.... Everytime I plot the tool it reached to the end I have to drag it to shorten the size from left to right side. Hope you can answer me. Thank you
Hi great vid quick question if u spread the short or low wide or make it skinny can u miss a trade ?
Great video!! I definitely will use this, 1 question that I have I see that this tool can move up or down to put in our stop lost and take profit but I also see that if shrink it to left or right side I see that #'s changes can u please explain that?
My position tools data does not look like this and is a little confusing. The way yours is set up it makes sense. Are there specific settings you have set on yours? For example on the long tool, my profit target is 0.00475 (0.40%) 47.5, Amount 1776.14; in the middle, my RR is Open P&L: -0.0073, Qty: 163398 Risk/Reward Ratio 3.1; and my Stop: 0.00153 (0.13%), Amount: 750.
I don't know if they've made an update since you've posted this but I'm hoping you can help me figure out what this all stands for. Because there's no way with a $1k account I'm looking at a quantity of 163398.
Thank you and appreciate your time!
Are there any benefits to dollar cost averaging profits, i.e. letting it ride for longer? If so, what are they?
Hi, how do you choose the heigt of your resistance/support rectangle ?
Will the numbers will be taken automatically to limit settings in Binance ?
How do I activate this tool?
Very very well explained!! If you can please do upload a detailed video explaining the Fibonacci Retracement tool too!!
Excellent, thank you. Ive not found anyone else yet that has explained this ... and so well.
Glad to hear you enjoyed it, Guido!
Great explaining, glad that I found this channel. Keep it up, bright future.
Thanks, Bassim, will do!
Great lecture . You were direct and smart and am grateful for that. You just won a subscribe from me. Keep the good work up bro.
What's the number to the right? the one between the percentage and the amount?
hey guys, I'm new to trading and I have a question on this tool.
after setting up the long or short position, does the trade execute automatically? or do we enter the prices manually after setting up the positions?
Hi Jafni, great question! The long and short position tool on TradingView helps you determine your risk to reward ratio and position size and saves you time from doing manual calculations. After you know your entry point, position size, take profit levels, and stop-loss position, you can log on to an exchange and manually enter the trade. Hope this helps!
This is exactly what I was looking for here in the comments.
But another Question ...... what if you don't want a stop loss? What if you want to HEDGE instead? I'm still trying to figure out how to place a PUT just below current market price and a CALL just above current market price, so I can see which way the market will turn. How do you place both these PENDING ORDERS at once?
I'm using these tools on binance, but I can't seem to alter the wording to get it to say the ratio. can you advise how to do this please? thanks!
Thanks dude! This is best video on risk/reward tool on RUclips
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Your video was super helpful. I appreciate the details in your explanation of using the tools. Very thorough. Thank you so much!
Thank you so much man you explained everything crystal clear!
do you only trade the daily?
What a great educational video that other youtuber fail to provide. keep up the great work !!
Can you explain the Qty and Amount numbers in the long position - it is not clear how they get calculated? The % risk tolerance affects this.
What do you put as lot size
My PNL keeps coming up with like 0.0005 and stuff and my qty is sooo high
On the long position Tool i have " Lot size " that's mess my position size calculation.
Do you know how i can delete that ?
You don't have it when you lunch Short or Long Position.
Thank you
how do you place an order using the short or long position?
I'm confused at 15:27 .. how is that the previous low when there is one lower right next to it to the right??
Thank you for clear and calm teaching. I learned exactly what I was looking for.
Thanks for the great video! but I have a question. TIA im a newbie. Question. why do you (and other investors) make their stops so far below their entry price on long positions? it seems that even losing $1 is too much. Your support price was $36486 and your stop loss was at $34694. thats a $1792 difference. Please explain this.
The stop loss is usually at a price that the trader believes that if broken, price will move much lower, in which case the market would need to be reevaluated. It may be more profitable to buy back later at a lower price for example instead of riding the whole move down. However, price also isn’t up only, it can come down a bit before making its way up to your target. If you set your stop loss too close to the entry price, particularly if you’re entering while price is coming down, the stop loss could hit straight away, unless price goes up only from the moment you buy, which is a highly unlikely scenario.
Low stop loss allows you to stay in the game.
What do the other numbers mean on the long/short position tool?
Thank you for this video! I've liked and subscribed to your channel because of the value it has provided. I have a question. When entering a trade (after determining your entry, stop loss, and target using the position tools) should you enter at market rate and then go back and set your stop loss and target points? Or should you set a specific entry price along with the other two factors?
Hi Cari, no need to thank us for the video, it's what we do! :D
In terms of your question, we would say it's usually best to set your entry and stop-loss at the same time when you enter a position. Also, if exchanges offer you the ability to set take-profit orders at the same time as a stop-loss, do all three at the same time to save yourself some time!
How do you back-test a risk to reward ratio? Given that price volatility and volume changes over time, how do you back-test it reliably? And how does it change your R2R going forwards? This is really relevant for alt coins within crypto, for example, since they often start with a really low average volume, and then enter extreme volatility with tons of volume going in, both at the buy-up phase and the sell-off phase (both at the pump and the dump). I gather that would affect R2R right? And if so, how do you know or calculate the right R2R to set?
There's a back test or replay option in Tradingview. It may be hard to do at first but you want to back test during the times of day that you will be trading. That way you'll know how price tends to move during that time.
Hi there, please explain what the numbers showing AFTER the percent represent on the Risk & Reward tool... the number right after and then the Amount? Thanks
My understanding is the amount after the percentage is the amount of "ticks" from the entry price to the take profit price. Hope that's what you were asking.
How did you connect Coinbase as your broker on Tradingview?
Thanks this was very simple. Can you short sell through Trading View?
I liked how you explained this can you do one for the fib retrace tool
Can u tell me does the long position tool automatically buy and sell the coin or no?
Great question, Nedas. No, it does not. You can use this tool to calculate your entry, exit, position size, and risk-to-reward ratio, and then login to your crypto exchange of choice and execute your buys and sells. :)
@@leutheria5001 thank you
Hi, nice video but it is missing one thing. Where does it tell you how many units/Amount you should buy in order to meet those stop/profit limits based on the account size?.
Hey man, i've spent the last hour trying to understand why it increases the "quantity" as you move your stop loss up closer to your buy price on the long position. My portfolio is $100. If i risk say 100% ($100), to buy a $1 stock, (so 100 of them), the quantity should read 100 no matter where i move the stop loss. Consequently, the "amount" in the green profit area is all wrong. For example, say the price target = percentage profit of 50%, that should see me at $150 (amount: $150). This is no longer the case when you move the stop loss around (due to the quantity change).
@@D13GOR yeh, still facing the same issue and no idea why it's the way it is. It's turned me off from using stop losses lol
Have you figured this out cuz this is exactly my question. The quantity and risk part I dont understand. Ill be doing 20x long positions on crypto so how do I get it to reflect that?
I understand the chart tool, but when it comes to actually creating your position I get lost. How do you actually fill the Long/Short you draw on the chart?
Great question! That can be done on an exchange like Coinbase Pro or others. Check out our tutorial on how to set orders to fill long or short positions on Coinbase Pro here: ruclips.net/video/PckoWdjFqa8/видео.html
How to execute the trade using the stop/loss rectangle, green and red one ?
how we determine how much money we wnat o put on the trade
Can you explain what the risk box and the lot size box do?
Yes this is what I keep searching for but noone ever explains it. Have u figured it out? Driving me crazy.
Thanks for the easy to understand content and the way you so simply break it down. Best ever vid on R:R.
Thank you thank you very helpful I needed that I've searching for two days also the clarity was 100% on point.
I'll watch this a couple of more times. I liked it a lot especially w the mistakes all in real time. It made me pay more attention to each line as you were doing it. Thank you.
So you don't ctually use the tool to enter and set tp and sl?
To enter how much we wanna invest ,Do we have to start with this tool before buying bitcoin or we have to buy bitcoin first and go with long or short position, What will happens after we take profit or get to stop loss, Is the system sell our bitcoin, Please explain at very first and very last
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This is very helpful! Thank you!
You're welcome! Glad that you enjoyed it!
Could someone please explain when you enter your risk size in percentage or USD are you stating: I want to risk (use) 500 dollars out of my 10000 available account size in this trade? If this is correct, does the tool automatically calculate how many shares you need for your goal? How do I set this up for example: I have an available account balance of 10000 USD, I want to put 500 into this single trade, buying 1 share, 2 to one? Thanks all, I"m almost there.
@KATHIMORGAN is her user name for help
more of this type of videos and you will have 100k followers in less than a year! awesome stuff! thanks bro
Thanks, Ricky! We appreciate your support! :D
You explained this all very well and now i understand. thank you sir
good explanation...but... you can also use this tool as a money management tool by entering your account size and the risk that you want to take on the trade.. and the tool will calculate the right quantity to buy " or sell"
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Thank you! You clarified it all for me 👍 💯
This was very educative... keep up the good work
What was the "ticks" In that rectangular box of inputs? Anyone knows?
You didn't show the order being placed in trade window? Can you do this.
How does this work for options?
Great video very well explained, hope to see more. Liked and subscribed
Thanks for this video!
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Is it possible (short or long / Target, Open Stop) with one click??????
Thanks! Perfect video, clear and concise.
Thank you for making this...excellent!!!!
Hi, What it means acount size and amount in target and loss ?
Hi Jaipal, account size is the total dollar value of your investment portfolio, your target would be where you think price will go to, and your loss if you get stopped out is how much you will lose on the trade.
I'm in Sydney Aus ... Can you Turn all the numbers on tradingview into your currency? ie $AUS
But how do we determine the position size based on how far we are from entry price and risk?? Like how many shares or investment $ we should put into the trade? Do we divide the risk by percentage of loss??
Great question, Alma!
Position size = (Total portfolio value X the percentage of your portfolio you want to risk on the trade) / The percentage your entry price is away from your stop-loss
Can you explain the units to me please? As a beginner, I am confused about that.
Thank you so much i watch 3 times please we need more video for like this for beginner
But how do i directly place entry, SL, target with just one click after using this tool ?
You explain so well. Thank you!
Very clear tutorial sir, thank you. You've got new subs sir.
I tried working it out, its a little more clear now but im still not getting how to active it. It just sits on my screen without activating a trade.
Thank you man , Thank you
You really make it simple
That was super easy to understand, thank you.
Great turorial man thanks for the info no one takes the time to explain. Can you share your color scheme please?
Great explanation but can you maybe just clarify the risk % a little more.. your risk % was 1 in the settings box but the stop loss says 7% on the long... I don’t really understand this - why isn’t the stop loss the same at the risk % in the settings box?
Hi Alex, great question! The risk % is the percentage of your portfolio that you're risking on any given trade. Meaning - if your risk % is 1% and you get stopped out of the trade you will only lose 1% of your portfolio. So, if your portfolio is $100, you would only lose $1. The percentage on the long position tool next to the stop loss area is just the percentage your stop loss is away from your entry price. We hope this helps!
Ah yes, I see what you're saying now. That's a great question, Alex. I don't actually use the risk % element of the tool myself so I don't really feel comfortable commenting on that. I apologize I don't have a good answer for you!
Thank you so much for explaining in details. You save me stress. I don't you what's wrong with every videos on RUclips because they don't explain like this. They teach you as if you already know it
I like this tool but whenever use it, it doesn't automatically enter the market
How do I activate it?
I was looking for this for some time now. Thank you God bless.
Thank you for sharing your knowledge to us
Very helpful, Thanks :)
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Thanks bro. God bless you man!🙏🏾
Well detailed and explained ✅
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exactly what i was looking for thanks for your knowledge