Pretend we know nothing about TA and want to range trade stocks. Please be so kind and explain to us in the most simple and concise way possible as if you would explain it to a 10 year old, how you increase the odds of knowing when to enter and exit a trade in order to maximize profits as much as possible. Your help would mean the world to me because these pandemic years have been extremely traumatic and tragic for me as I lost numerous loved ones and to cope, I threw myself head first into learning about when to enter and exit trades in order to increase my odds to maximize profits so you can imagine how I feel. 🙏
Hi Sara, the simplest way I can put it to trade in a range would be to sell at the top of the range and buy the bottom of the range. You could draw a rectangle on the chart from where prices reversed in the past and every time the market moves up or down to the top of bottom of the range, place a trade.
Hello, just discovered your channel. Have couple of question. When you say first 30 minutes? Which timezone are you in and what are the specific hours? Is it 9.30 am central time? Also does it mean that you never trade on the first 30 minutes and just observe the high and lows? Thanks
Great question Patrick. I use the NYSE Open at 9:30 am EST to 10 am as the first 30-mins of the regular trading hours. I opt to not trade just the first 15-mins after the open.
Thank you again for your clear and concise teachings. I am glad I found you. Paul Kennedy
I thought you said to draw from low to lows not high to low for retracements or I am wrong ?
A traditional retracement is a swing low to swing high (long) or high to low (short). An extension would be a low to low or high to high.
Pretend we know nothing about TA and want to range trade stocks. Please be so kind and explain to us in the most simple and concise way possible as if you would explain it to a 10 year old, how you increase the odds of knowing when to enter and exit a trade in order to maximize profits as much as possible.
Your help would mean the world to me because these pandemic years have been extremely traumatic and tragic for me as I lost numerous loved ones and to cope, I threw myself head first into learning about when to enter and exit trades in order to increase my odds to maximize profits so you can imagine how I feel.
🙏
Hi Sara, the simplest way I can put it to trade in a range would be to sell at the top of the range and buy the bottom of the range. You could draw a rectangle on the chart from where prices reversed in the past and every time the market moves up or down to the top of bottom of the range, place a trade.
Hello, just discovered your channel. Have couple of question. When you say first 30 minutes? Which timezone are you in and what are the specific hours? Is it 9.30 am central time? Also does it mean that you never trade on the first 30 minutes and just observe the high and lows? Thanks
Great question Patrick. I use the NYSE Open at 9:30 am EST to 10 am as the first 30-mins of the regular trading hours. I opt to not trade just the first 15-mins after the open.