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Break Out Trading ww'tradingstrategies'info

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Break Out Trading. ww.trading-strategies.info. What you can expect to learn. Three simple questions to ask before you place a trade ... – PowerPoint PPT presentation

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Title: Break Out Trading ww'tradingstrategies'info


1
Break Out Trading ww.trading-strategies.info
2
What you can expect to learn
  • Three simple questions to ask before you place a
    trade
  • How to identify ALTERNATIVE range trading
    opportunities
  • How to assess them for potential
  • How to day trade with a 5 minute decision
  • OR convert this to swing trading strategy

3
Business Plan
  • Where Im now?
  • Where do I want to be?
  • How Im I going to get there?
  • Where is price now?
  • What is it doing?
  • How can I get involved? (remember there are 3
    trades Long, Short Flat)

4
5 Minute Day trader
  • Rules are simple
  • This trading method involves four simple steps.
  • Identify a trading opportunity
  • Select a direction
  • Place your trade
  • Manage your trade later at a specific time

5
5 Minute Day trader
  • 1 - First of all you need to identify a trading
    opportunity.
  • An Inside bar on the 8hr charts
  • My 8hr bars are set to 10pm-6am, 6am-2pm,
    2pm-10pm

6
5 Minute Day trader
  • 2 - To select a direction you need to look at the
    bar immediately prior to your entry bar between
    14.00 and 22.00 the previous day.
  • If the bar closed higher than the open look for
    a long entry
  • If the bar closed lower than the open look for
    a short entry

7
5 Minute Day trader
  • 3 - Now you simply place your trade.
  • If you identified a long opportunity place a
    buy order above the high of the inside bar, with
    your stop loss order below the low of the inside
    bar.
  • If you identified a short opportunity place a
    sell order below the low of the inside bar, with
    your stop loss above the high of the inside bar.
  • The entry order should be 10 pips above the high
    for a long trade and 10 pips below the low for a
    short trade.
  • The stop loss order should be 5 pips below the
    low for a long trade and 5 pips above the high
    for a short trade.

8
5 Minute Day trader
  • 4 - After placing your trade you can forget about
    it until 14.00 when you will need to go back
    and check on it. You will then either
  • Cancel the orders as they have not been triggered
  • OR
  • Raise your stop loss to 10 pips below the closing
    price at this time for a long trade
  • Lower your stop loss to 10 pips above the closing
    price at this time for a short trade.
  • You could simply close the trade at this time
    however continuing will keep the trade
    mechanical and permit accurate back testing.

9
Example day trade
10
Example swing trade
11
Example swing trade with compounding
12
Example using 60 min charts
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