Trading setup for beginners
已更新
One thing that is a problem for novice traders is the lack of repeatable trading setups. Manually scanning through charts every day is counterproductive. One might take a trade just for the sake of it if they do not find anything worth trading.
This pattern can be scanned very easily on charting platforms. Lack of patience is very real during early days as a trader. Having a fixed systematic pattern like this is an antidote to lack of patience and bad trades.
Whenever the market penetrates the mentioned low and doesn't follow through, one can expect a short time spike in prices that can be capitalized. These patterns tend to resolve themselves within 3-5 days and occasionally make take some time. This pattern is called Turtle Soup/Turtle Soup Plus One. If the market closes above the mentioned low on the same day, it is called turtle soup and if it closes higher the next day, it is called turtle soup plus one. I learned this strategy from a legendary veteran trader, Linda Bradford Raschke, in her book Street Smarts. The trading pattern is explained thoroughly on the chart but if you have any questions, you can drop them in the comment section.
P.S. I highlighted the most recent trade because that was the one that I took and the previous examples on the chart may look like a benefit of hindsight, but that is simply to see how the markets reacted and whether this trade would have worked out or not. Past market behavior is very important.
*Welcome corrections on the chart if any*
This pattern can be scanned very easily on charting platforms. Lack of patience is very real during early days as a trader. Having a fixed systematic pattern like this is an antidote to lack of patience and bad trades.
Whenever the market penetrates the mentioned low and doesn't follow through, one can expect a short time spike in prices that can be capitalized. These patterns tend to resolve themselves within 3-5 days and occasionally make take some time. This pattern is called Turtle Soup/Turtle Soup Plus One. If the market closes above the mentioned low on the same day, it is called turtle soup and if it closes higher the next day, it is called turtle soup plus one. I learned this strategy from a legendary veteran trader, Linda Bradford Raschke, in her book Street Smarts. The trading pattern is explained thoroughly on the chart but if you have any questions, you can drop them in the comment section.
P.S. I highlighted the most recent trade because that was the one that I took and the previous examples on the chart may look like a benefit of hindsight, but that is simply to see how the markets reacted and whether this trade would have worked out or not. Past market behavior is very important.
*Welcome corrections on the chart if any*
交易結束：目標達成
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。