"This Technique" Separates Amateurs from Professionals

In today's Trading Beacon tutorial, I'll be sharing the #1 Trading Secret that separates the beginner traders from the professional traders.

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Here we have a standard candlestick chart with no indicators added, and 3 levels of support already drawn in. Let’s rewind a little bit on the chart. So price is currently inside of this sideways range. We see a move from the bottom of the range, to the top of the range, back down to the bottom of the range and so on. Moving forward a few more candles, we see this huge red candle form which breaks out of the sideways range, followed a smaller green candle. Price is now sitting on a level of support, so it may be tempting to place a buy trade here with a stop loss below the level of support...But let’s see what happens next.

Price continues to shoot down, as the downwards momentum follows and we would have gotten stopped out of the buy trade for a loss. But that’s not a big deal, because price is already at the second level of support and another buy opportunity is available. So again, let’s place a buy trade here, put our stop loss below the level of support and see what happens next. This buy trade would have done better than the previous one, because we saw a larger bounce to the upside. So depending on where you placed your profit target this may have resulted in a winning trade. But notice how price was unable to continue higher: We saw 2 bounces off the previous level. And then price broke through support and continued further down again.

We now have one final buy opportunity, as price is currently at the third level of support. We might get a bounce to the upside similar to the similar to the previous trade. So again: Placing a buy trade at the level of support and putting our stop loss below the level, let’s see what happens next. On this trade we didn’t see any upwards movement off the level of support at all. We saw a handful of smaller candle form after reaching support, and then the downwards momentum picked up once again as price continued lower. So the buy trade at support would have resulted in yet another losing trade.

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Beauty Flow by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/5025-beauty-flow
License: http://creativecommons.org/licenses/by/4.0/

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DISCLAIMER:
Foreign exchange trading on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. Past performance is not indicative of future results. The information presented today is not meant for use in live trading.
This video is not a recommendation to anyone on how to spend or invest their money. Take all videos as my own opinion, as entertainment, and at your own risk. I do not assume any responsibility or liability for any errors or omission in the content of this channel. This content is for educational purposes only, and is not tax, legal, financial or professional advice. Any action you take on the information in this video is strictly at your own risk. TradingBeacon.com and all individuals affiliated with this channel assume no responsibilities for your trading and investment results.

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Видео "This Technique" Separates Amateurs from Professionals канала Trading Beacon