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On the Oscillator, for example RSI, you can get this into oversold by using a lower period for swing trading. I suggest 7 days instead of 14. Also, on the way back up, crossing the 30 line is often not enough and price will often fall again. So I suggest crossing 50 or 55 before buying.
Thanks Mark - I was trading at Market price action with pull backs last week - most of my trades were too early - I am now using the oscillator to time and position my pull back trades a you mentioned in video :)
Look at the ATR and compare it to the session range between high and low. After 1/3 time of the session full time, then you have a guide to find an contraian edge - may be to a mean reversal 🙂
Beautiful presentation Mark - great solutions. I enjoy using s/r lines and trend-lines for pull backs to spot potential small zones of value. Then I’d enter with either a close above candle or close below candle (depending on whether the trend is up or down).
So if you combine all three your trade is likely to be much stronger. Just my logic. Thank you James as always for giving us the pieces of the puzzle! P.s. I use a bollinger which has the 20 ma embedded. It gives a nice exit too.
About using oscillators for entering pulback I like the awesome oscillator. Mark described the way to do it in his video about the awesome. Also I use moving averages to see where price has been respected before.
i dont know whether it is common or not, but i have this tendency that stock selection for intraday doesnot matter, a decent trader would make money from any chart . is that true at all or I am having a wrong thought?!
Whiles it’s possible to read any chart and trade it, knowing some key information about the particular instrument will help. You cannot always apply the same rules to all instruments as market conditions dictate might happen in any given period.
Thanks for the Tip. I've only been trading 18 months, but I've found about 10 atock over that time that have shot up, but I either didn't get in, or got out too early. I'll give these a try.
These are good indicators and it is easy to find the setups, but in my experience if I see 100 setups and I open 20 random positions, about half of them will pull back. If I take the best setups (not random), like the highest percent above the previous high or the lowest/highest RSI, even more of them will pull back. Though these are solid, objective, easy to understand indicators, they really don't predict how an individual trade will go. The advantage is that they remove emotion (or some of it) from the timing of starting or ending a position. At the end of the day, I'm hoping that my winners outrun my losers.
Students, what does Close above Previous High mean (3:40)? Just simply in terms of Supply & Demand? It's a Bullish Engulfing Candle, but if you were watching an actual physical Auction, what would you be seeing? 🤔
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👉 Trade with our Sponsor Broker: Trade Nation www.financial-spread-betting.com/ccount/click.php?id=95 Trade sensibly! 81.7% of retail investors lose money.
👉 We are seeking more contributors who can produce great video educational content about trading for our channel. If you think you have what it takes please get in touch by sending a message to traderATfinancial-spread-betting.com (remove the AT and substitute by @).
👉 It seems a lot of our viewers are non-subscribers. Make sure to subscribe to our youtube channel as we upload regular videos! If you hit the “Bell” icon (🔔) you will receive a notification on youtube every time that we upload a video on our channel. Bell icon hitters are super fans of our channel 🥰
I need this video in my life.... I am 0 for a lot lately.
On the Oscillator, for example RSI, you can get this into oversold by using a lower period for swing trading. I suggest 7 days instead of 14. Also, on the way back up, crossing the 30 line is often not enough and price will often fall again. So I suggest crossing 50 or 55 before buying.
Thanks Mark - I was trading at Market price action with pull backs last week - most of my trades were too early - I am now using the oscillator to time and position my pull back trades a you mentioned in video :)
Extremely helpful thanks
Add horizontal support for buy trades
Look at the ATR and compare it to the session range between high and low. After 1/3 time of the session full time, then you have a guide to find an contraian edge - may be to a mean reversal 🙂
Stop using tiny stoplosses and reduce your size
Beautiful presentation Mark - great solutions. I enjoy using s/r lines and trend-lines for pull backs to spot potential small zones of value. Then I’d enter with either a close above candle or close below candle (depending on whether the trend is up or down).
Thanks for all the vids and help this year, have a good and profitable new year
Chart 1 really played on the Nasdaq yesterday and was really good to be patient. Double bottom pull back. Good video Mark
So if you combine all three your trade is likely to be much stronger. Just my logic. Thank you James as always for giving us the pieces of the puzzle!
P.s. I use a bollinger which has the 20 ma embedded. It gives a nice exit too.
About using oscillators for entering pulback I like the awesome oscillator. Mark described the way to do it in his video about the awesome. Also I use moving averages to see where price has been respected before.
Thanks, whats your opinion on divergences, wait for sec or third, and then trade?
Good reminder
i dont know whether it is common or not, but i have this tendency that stock selection for intraday doesnot matter, a decent trader would make money from any chart . is that true at all or I am having a wrong thought?!
All that matters is the chart, some charts are better/easier to trade than others
Whiles it’s possible to read any chart and trade it, knowing some key information about the particular instrument will help. You cannot always apply the same rules to all instruments as market conditions dictate might happen in any given period.
Great video as always. Happy Christmas
Awesome video. Thx.
Thanks for the Tip. I've only been trading 18 months, but I've found about 10 atock over that time that have shot up, but I either didn't get in, or got out too early.
I'll give these a try.
Did it today only & missed 40k from a profitable trade!🤦
Good one
These are good indicators and it is easy to find the setups, but in my experience if I see 100 setups and I open 20 random positions, about half of them will pull back. If I take the best setups (not random), like the highest percent above the previous high or the lowest/highest RSI, even more of them will pull back. Though these are solid, objective, easy to understand indicators, they really don't predict how an individual trade will go. The advantage is that they remove emotion (or some of it) from the timing of starting or ending a position. At the end of the day, I'm hoping that my winners outrun my losers.
how bout using the 1 min to make sure its in the same direction
Don't wait till RSI dips into oversold, it has indicated weakness at that point. 45 Level is better, if I see it go below 30 i bail.
So then you're waiting for it to emerge from a lower level of outsold, which was Mark's oversold example, correct?
What platform are you using or recommending. as I'm using city index CFD. and commission is very expensive
Try one of these www.financial-spread-betting.com/spreadbetting/compare-spreads.html
@@ukspreadbetting thank you. have a very merry Christmas and happy new year.
I use 2 and 3 together.
I thought the same thing. I may back test that.
Students, what does Close above Previous High mean (3:40)? Just simply in terms of Supply & Demand? It's a Bullish Engulfing Candle, but if you were watching an actual physical Auction, what would you be seeing? 🤔
Or simply just keep buying progressively - AKA dollar-cost averaging.
Highway to bankruptcy
👍
fIb regression levels
What do you think about this: Fibs take too long to draw in the throws of a trade? At least on my platform the would.
Fibs !
😠 Talk talk talk but no substance ....