No one can consistently predict the markets, call tops and bottoms.

So just follow price. Ride winners. Cut losers.

You'll be much further ahead than trying to outsmart the market.

A Complete Guide To Creating And Using A Forex Trading Journal

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[Pullback stock trading tips]

When it comes to stock trading, it’s possible to have hundreds of stocks forming a pullback trading setup at the same time.

So the question is:

How do you know which stocks to buy and which to avoid?

Well, the secret is to focus on stocks which have increased the most in price over the last 12 months.

Why?

Because these are stocks likely to outperform the market (and it’s been proven in theory as well according to the paper Returns to Buying Winners and Selling Losers by Jegadeesh and Titman).

So, how do you apply this to your trading?

1. Rank stocks according to their rate of change (ROC) over the last 50-weeks—from the highest to the lowest

2. Look for a pullback trading setup on stocks with the highest ROC value. If there isn’t, then move to the next stock (with a lower ROC value)

3. The top 5 stocks with a valid pullback trading setup are the ones to focus on

Pro Tip:

You can use a platform like Thinkorswim to help you rank the stocks, and it’s free.

The Definitive Guide to Trading Breakouts

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The Ultimate Guide To Supertrend Indicator

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If you manage your risk, your profits will take care of itself.

If you don't, your parents will take care of you.

The Trend Line Breakout Trading Strategy

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[The hidden cost of copy trading that nobody tells you]

Copy trading is a business.

So, if you’re not being charged any upfront fee, then you’re paying more for the spread and overnight fees.

I’ll explain…

For most Forex brokers, the spread on EUR/USD is 1 pip. But on a copy trading platform, you might pay 2 to 3 pips more.

But don’t take my words for it because you can compare the spreads of a normal Forex broker with a copy trading platform and you’ll see the difference.

So, what’s the implication?

Two things.

#1: If you’re a trader being copied, then bear in mind your trading strategy won’t work as well because you’re paying more in spread (compared to a typical Forex broker).

#2: If you’re copying another trader, then it’s best to follow traders who trade infrequently so the spread doesn’t eat up a huge chunk of your profits.

Now, the spread isn’t your only cost because you still have to consider overnight fees (if you’re holding positions for longer than a day).

This fee is calculated by taking Libor + X%.

(Libor stands for inter-bank offered rate. It’s an interest rate that banks charge to other banks for borrowing the money.)

So, what is X?

Well, this is the mark up that’s determined by the copy trading platform and you’ll need to check with them for the exact amount.

The good news is, you don’t have to worry about calculating all these because the platform will likely do it for you—so do check it out before placing a trade.

Now, there are probably other fees to consider but the spread and overnight fees make up the chunk of it.

How To Find Support and Resistance Levels

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In trading, you're not paid by the hour but, by doing the correct things over and over again. Don't forget that!

The Definitive Guide to Price Action Backtesting

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[The truth about support and resistance nobody tells you]

If you read most trading textbooks, they’ll tell you that the more times support and resistance are tested, the stronger they become.

But that’s not true, because the more times support and resistance are tested within a short period, the weaker they become.

Here’s why…

Support exists because there’s potential buying pressure around a certain price level.

(This buying pressure could be institutional orders, retail orders, smart money, etc.)

So what happens when the price re-tests support multiple times?

Well, these orders start to fill up.

Eventually, when all these orders are filled up, there’s no one left to buy and that’s when support breaks.

This means the more times support and resistance is tested (especially within a short period), the weaker it becomes.

Why a short period?

Because it’s unlikely new orders will be “replenished” so quickly.

And that’s why the more times support and resistance are tested within a short period, the weaker they become.

This is a 31-page trading booklet that contains a specific trading system that has generated 1451.74% since 2000—and has 18 winning years out of the last 20.

Learn More 👉 https://pullbackstocktradingsystem.com/

The Average True Range Indicator Strategy Guide

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How To Tell When Support Will Break

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Discover 5 proven trailing stop loss techniques to help you reduce risk and ride massive trends

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[This is the most important technical level one the chart]

Here are a few reasons why…

Reason #1: Losing traders hoping to get out at breakeven

Multi-year highs represent extreme optimism in the markets because most traders (and investors) are in profits.

But as you know, the price cannot go up forever. Eventually, it has to retrace or reverse altogether.

When that happens, many traders will exit their long trades.

However, not everyone will do the same. Some will continue holding, hoping the price could breakout higher to give them even more profits.

But when the market collapses even lower, they’ll regret not selling earlier as their open profits have been eroded and they are now sitting on their losses. They hope the market could re-test the highs so they can get out of their trades at breakeven.

Reason #2: Bearish traders looking to short the markets

For bearish traders, multi-year highs present an opportunity to short the market at a “high price” because they can reference the highs to set their stop loss.

So as the price approaches multi-year highs, the short interest from bearish traders will increase.

Reason #3: Momentum traders looking to buy breakouts

Momentum traders buy breakouts as the price moves above a certain level. It could be breakouts of a range, swing high, resistance, etc.

But what’s interesting is if the price breaks out of multi-year highs, it’ll attract attention from traders across different timeframes.

That’s because whether you’re a day trader, swing trader, long-term trader, etc. the multi-year highs will be something visible on your timeframe (and charts).

Now, whether you’re bullish or bearish, multi-year high is a significant level for traders.

If you’re bearish, then you can reference it to set your stop loss above the highs.

If you’re bullish, then you can look to buy the breakout and have your stops below the previous multi-year highs (anticipating that it could become previous resistance turned support).

(And vice versa for multi-year low.)

Discover how to use Trend Line to better time your entries, ride massive trends, and “predict” market turning points

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Many traders make the mistake of trying to find the best trading strategy.

In reality, it's about knowing yourself so you can find the best strategy to suit you.

Trading as a business: How to successfully start one and avoid the common pitfalls that destroy most traders

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