The Best Stop Loss Strategy (An Essential Guide)
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I wasted years trying to find a perfect trading system.
Then I realized it didn't exist.
Instead, it's about knowing your goals as a trader and then adopting the right system that fits with it.
Then I realized it didn't exist.
Instead, it's about knowing your goals as a trader and then adopting the right system that fits with it.
A Complete Guide To Creating And Using A Forex Trading Journal
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[How to use trading indicators like a pro]
A mistake almost all new traders make is to add many indicators onto their charts, regardless of whether the indicators have a purpose, or not.
But as you know, having more indicators doesn’t mean a thing. Instead, they only add “noise” to your trading and make things more confusing.
So, the rule is this:
Every trading indicator on your chart must have a purpose.
For example…
If you want to identify the trend, then you can consider the Moving Average.
If you want to time your entry, you can consider Stochastic or RSI.
If you want to trail your stop loss, you can consider Chandelier Exit or Moving Average.
So, if there’s an indicator on your chart and you can’t find a purpose for it, exterminate it.
A mistake almost all new traders make is to add many indicators onto their charts, regardless of whether the indicators have a purpose, or not.
But as you know, having more indicators doesn’t mean a thing. Instead, they only add “noise” to your trading and make things more confusing.
So, the rule is this:
Every trading indicator on your chart must have a purpose.
For example…
If you want to identify the trend, then you can consider the Moving Average.
If you want to time your entry, you can consider Stochastic or RSI.
If you want to trail your stop loss, you can consider Chandelier Exit or Moving Average.
So, if there’s an indicator on your chart and you can’t find a purpose for it, exterminate it.
I love hosting this webinar.
That’s because I get to interact with traders like you, tell jokes, teach important concepts, and it’s fun!
During the session, you’ll learn a simple trading system that has generated 3225% over the last 22 years.
In my opinion, this is the fastest way to become a profitable trader even if you have tried everything else and failed (and probably easier than making your kids listen to you).
Sign up now: https://www.tradingwithrayner.com/sts/
That’s because I get to interact with traders like you, tell jokes, teach important concepts, and it’s fun!
During the session, you’ll learn a simple trading system that has generated 3225% over the last 22 years.
In my opinion, this is the fastest way to become a profitable trader even if you have tried everything else and failed (and probably easier than making your kids listen to you).
Sign up now: https://www.tradingwithrayner.com/sts/
The Definitive Guide to Trading Breakouts
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Learn More 👉 https://www.tradingwithrayner.com/trading-breakouts/
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[How to use trading indicators like a pro]
You don’t want to have multiple indicators from the same category because they are correlated and doesn’t provide any new information.
That’s like trying to get your wife pregnant in one month by “firing” incessantly. It doesn’t work.
And it’s the same for trading.
So, the rule of thumb is this:
Have only one indicator for each purpose.
I’ll explain…
If you want to trail your stop loss, you can use either the Moving Average or Chandelier Exit — but not both.
Or if you want to time your entry, you can use either the RSI indicator or Stochastic, but not two together because they have the same purpose.
Does it make sense?
You don’t want to have multiple indicators from the same category because they are correlated and doesn’t provide any new information.
That’s like trying to get your wife pregnant in one month by “firing” incessantly. It doesn’t work.
And it’s the same for trading.
So, the rule of thumb is this:
Have only one indicator for each purpose.
I’ll explain…
If you want to trail your stop loss, you can use either the Moving Average or Chandelier Exit — but not both.
Or if you want to time your entry, you can use either the RSI indicator or Stochastic, but not two together because they have the same purpose.
Does it make sense?
Do you want to learn how to systematically beat the markets?
Then get your copy of The Essential Guide to Systems Trading (For Non-Programmers).
You’ll discover systematic trading strategies that work so you can beat the markets consistently even if don’t know a single line of code.
Learn More: https://www.tradingwithrayner.com/essential-guide-to-systems-trading/
Then get your copy of The Essential Guide to Systems Trading (For Non-Programmers).
You’ll discover systematic trading strategies that work so you can beat the markets consistently even if don’t know a single line of code.
Learn More: https://www.tradingwithrayner.com/essential-guide-to-systems-trading/
$100 to $200 is a 100% gain.
$1m to $2m is a 100% gain.
You need money to make money in trading.
$1m to $2m is a 100% gain.
You need money to make money in trading.
The Trend Line Breakout Trading Strategy
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[The longer it ranges the harder it trends]
If you notice the price has been ranging for a long time, you’re not alone.
Traders all around the world will be seeing the same charts as you.
Some will be queuing to short the resistance, and some will be trading the breakout.
If the price does trade above the resistance, shorts will get squeezed, and breakout traders will hop on the bandwagon.
That’s why price trend for a sustained period of time, due to the imbalance of buying/selling pressure.
If you notice the price has been ranging for a long time, you’re not alone.
Traders all around the world will be seeing the same charts as you.
Some will be queuing to short the resistance, and some will be trading the breakout.
If the price does trade above the resistance, shorts will get squeezed, and breakout traders will hop on the bandwagon.
That’s why price trend for a sustained period of time, due to the imbalance of buying/selling pressure.
Simple Breakout Trading System +5,024% (Backed by Data)
Learn More 👉 https://www.tradingwithrayner.com/breakout-trading-system/
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The Definitive Guide To Dark Cloud Cover Candlestick Pattern
Learn More 👉 https://www.tradingwithrayner.com/dark-cloud-cover/
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Learn More 👉 https://www.tradingwithrayner.com/dark-cloud-cover/
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The Trend Line Breakout Trading Strategy
Learn More 👉 https://www.tradingwithrayner.com/trend-line-breakout-trading-strategy/
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Learn More 👉 https://www.tradingwithrayner.com/trend-line-breakout-trading-strategy/
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[When it comes to trading indicators, less is more]
Here’s the thing:
Having more indicators on your chart does not increase your chances of a winning trade but only gives you analysis paralysis and not taking the trade.
You’d probably get better results if you only had a handful of indicators on your chart!
That’s why we want to have an indicator that can single-handedly:
• Determine your entries
• Determine how you’ll take profits
• Determine[ your stop loss
Having fewer indicators keeps your charts clean and helps you make faster decisions which will make your trading process much more efficient.
Here’s the thing:
Having more indicators on your chart does not increase your chances of a winning trade but only gives you analysis paralysis and not taking the trade.
You’d probably get better results if you only had a handful of indicators on your chart!
That’s why we want to have an indicator that can single-handedly:
• Determine your entries
• Determine how you’ll take profits
• Determine[ your stop loss
Having fewer indicators keeps your charts clean and helps you make faster decisions which will make your trading process much more efficient.
How To Find Support and Resistance Levels
Learn More 👉 https://www.tradingwithrayner.com/how-to-find-support-and-resistance-levels/
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Seeing your account go nowhere can be difficult
But rem, you need time for your edge to play out
You won't be a profitable trader after taking a course
You don't get a baby in 1 month by getting 9 women pregnant
Rome isn't built in a day—and it's the same for your account
But rem, you need time for your edge to play out
You won't be a profitable trader after taking a course
You don't get a baby in 1 month by getting 9 women pregnant
Rome isn't built in a day—and it's the same for your account
The Definitive Guide to Price Action Backtesting
Learn More 👉 https://www.tradingwithrayner.com/backtesting/
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[You don’t need to monitor your trades the whole day]
You might have heard the saying...
"You need to monitor your trades all the time to be a successful trader."
Nope.
Instead, you need a trading routine that works. One that doesn’t require you to stare at the charts all day.
So here’s a template you can use…
Example 1: You have a full-time job
• Weekends = Identify potential trading setups for the week
• Before work = Identify setups that are triggered and place your orders
• Lunch time = Check your portfolio and see if your trades are executed
• After work = Journal and review your trades
Now, what if you are a day trader?
Example 2: You are a day trader
• Before market hours = Identify potential trading setups for the day
• Market hours = Set alerts when the price comes to your level and trade it according to your plan
• After market hours = Journal and review your trades
Now…
Regardless of the type of trader you are, you must devote time to planning.
Because if you fail to plan, then you plan to fail.
You might have heard the saying...
"You need to monitor your trades all the time to be a successful trader."
Nope.
Instead, you need a trading routine that works. One that doesn’t require you to stare at the charts all day.
So here’s a template you can use…
Example 1: You have a full-time job
• Weekends = Identify potential trading setups for the week
• Before work = Identify setups that are triggered and place your orders
• Lunch time = Check your portfolio and see if your trades are executed
• After work = Journal and review your trades
Now, what if you are a day trader?
Example 2: You are a day trader
• Before market hours = Identify potential trading setups for the day
• Market hours = Set alerts when the price comes to your level and trade it according to your plan
• After market hours = Journal and review your trades
Now…
Regardless of the type of trader you are, you must devote time to planning.
Because if you fail to plan, then you plan to fail.