Course #3 - Documenting and Review Process With Live Trades
- 4 hours on-demand video
- 14 downloadable resources
- Full lifetime access
- Access on mobile and TV
- Certificate of Completion
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- My strategies for growing small accounts, how to document trades and review them, how to leverage, how to short
- You'll understand scalping 1-2% profits that can compound to large gains over time
- You'll understand how to document trades and review them to learn from mistakes
- You'll understand how to trade with the trend and catch bounces
- Have access to a cryptocurrency exchange account that lets you short and have funds to trade.
- Have access to a computer and an account at Trading View.
- Have access to an exchange that can short (Not 100% Necessary but recommended)
- Familiary with RSI, MACD, Histogram on a basic level
The goal is this mini course is to introduce a systematic approach to trading that can help you develop your skills further. We ask ourselves, how can we improve our trading if we don't document and review each trade?
In this mini course #3, I go through 9 live trades, growing a small $2.3K account to $3K (30%) in a single day.
For each live trade, I:
1) Narrate my thought process
2) List the reasons entering the trade
3) Document the process during the trade
4) Go through risk to reward in detail
5) Keep a master track of trades taken
6) Review each trade at the end of each trade and 24 hours later
7) Review mistakes and successes, focusing on both strengths and weaknesses, to see where improvement can be made
- This course is for intermediate to advanced traders. My first course is highly recommended before taking this one.
- Those wanting to learn more about intermediate to advanced level 2, price action, and Elliot Wave
- Those wanting to learn my specific scalping method that yields 1-2% per trade.
Trade 01 involves counting elliot wave structures, how we look for higher lows on RSI to see signs of bullish divergence, and how a volume spike on a small time frame after a volatile downtrend can signal reversal.
Trade 02 deals with descending triangles gone wrong. This trade proves that descending triangles don't always break down. Had I not accepted my loss and cut it, I would've been a bad position, ignoring my stop loss and would've been down over 6%. One of the most vital skills is cutting your loss. It's only when we learn how to cut our losses, we can then protect and grow our capital.
Trade 03 deals with trading breakouts and how to set targets using fibonacci retracement tool. This trade heavily relied on the acknowledgement of trade 02 (shorting) going wrong, accepting that loss, and moving onto the next trade.
Trade 04 dealt with longing at support ranges and identifying bounces. Many mistakes were made this trade. I took profit much too early and I could've used fibonacci retracement ranges as targets, but didn't. Next time I'll be more diligent with setting targets and not taking profits too early.
Trade 05 - This trade was successful and unsuccessful in many ways. This was clearly the play of the day, allowing me to catch the B of ABC in elliot wave theory, but my confidence was not high. Instead of yielding a profit of $500+, I yielded only $120. The main lesson learned in this trade is to acknowledge your Elliot Wave count if successful on the previous trades, and if C is caught, to target 0.786 to assume a truncated C of the B wave.
Trade 06 was the worst trade of this series. I forced trades and went against my position. I panicked and took profit too early, where I should've believed in why I went into the trade, and rode it sufficiently to target or be stopped. This trade never should've been taken in the first place.
Trade 09 Was a profitable trade, but many mistakes were made. We strike to learn from these mistakes as much as we can. I caught myself trading when tired, and that's never a good sign. This was potentially the last big short opportunity to catch that day and I ended up taking profit much too early.