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Last modified by Drunk Monkey on 2023-01-14 05:38
From version 7.2
edited by Drunk Monkey
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To version 2.1
edited by Drunk Monkey
on 2020-06-27 18:50
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1 -{{box cssClass="box floatinginfobox" title="**Quick Links**"}}
2 -{{toc start="2"/}}
3 -{{/box}}
4 -
5 5  == Optimal Trade Entry Primer ==
6 6  
7 -* one of many trading patterns, one of the easiest
8 -* trading plan needs to be simple:
9 -** what's your risk model
10 -** how to frame that?
11 -** what makes your entry
12 -** what gives you indicators of bullish/bearish market?
13 -** how do you execute the trade?
14 -** how do you manage the trade?
15 -** where do you take profits?
16 -* what make the market predisposed to go higher or lower?
17 -** look at HTF (M, W, D, 4h) and look for key levels where price has moved away from in the past
18 -** HTF shows where the big players are most likely going to push things around.
19 -** LTF is too noisy to show this detail.
20 -* Assuming bullish market, we are looking for where the market wants to trade higher.  OTE is based on buying during the retracements that occur before the further push upwards.
21 -* The impulse move has to incorporate a break in Market Structure.
22 -* Using Fib Retracement as a visual guide, set the following levels
23 -** -1 - Symmetrical Price Swing
24 -** -0.62 - TP2
25 -** -0.27 - TP1
26 -** 0 - First Profit - Scaling
27 -** 0.5 - Equilibrium
28 -** 0.618 - 62% retracement
29 -** 0.705 - OTE 70.5%
30 -** 0.79 - 79%
31 -** 1 - 100%, or likely SL
32 -* OTE (70.5%) is an ideal target.  getting deeper is better, but you run the risk of not filling your order.  62% retracement is also acceptable, but it results in smaller profits because our SL range will be larger, necessitating smaller order sizes to maintain our risk profile.
33 -* First Scaling, or slightly before, represents the place to take initial profits.  It should be a decent return, preferable better than 1:2 risk/reward, but slightly less than 2 (1.5? 1x75?) is also acceptable.
34 -* Setups on 1h charts better than 5m charts because the pip movements will be larger.
35 -* Key levels xxx.00, xxx.20, xxx.50, xxx.80, yyy.00
36 -* Place the fibs on the body of the candles
37 -* Market structure - example given:
38 -- monthly view
39 -[[image:Screenshot 2020-06-29 at 03.11.56.png]]
40 -\\- daily view
41 -[[image:Screenshot 2020-06-29 at 03.14.02.png]]
42 -\\- 15m view[[image:Screenshot 2020-06-29 at 03.06.46.png]]
43 -* Note the following:
44 -** institutional levels
45 -** old monthly high at 1.1720 (1.17137 rounded)
46 -** price runs down until it hits the 20 level (1.1720), rallies and creates a new short term high (old - middle red line, new STH, top red line.
47 -** the new STH makes for a more likely trade opportunity. (market maker model) and opens up the chance for an OTE.
48 -**
49 -* when old highs/lows are broken, trades will tend to reach back to those old positions (retail calls it "support")
50 50  
51 -== Introduction ==
52 -
53 -== Example 1 ==
54 -
55 -== Example 2 ==
56 -
57 -== Example 3 ==
58 -
59 -== Example 4 ==
60 -
61 -== Example 5 ==
62 -
63 -== Example 6 ==
64 -
65 -== Example 7 ==
66 -
67 -== Example 8 ==
68 -
69 -== Example 9 ==
70 -
71 -== Example 10 ==
72 -
73 -== Example 11 ==
74 -
75 -== Example 12 ==
76 -
77 -== Example 13 ==
78 -
79 -== Example 14 ==
80 -
81 -== Example 15 ==
82 -
83 -== Example 16 ==
84 -
85 -== Example 17 ==
86 -
87 -== Example 18 ==
88 -
89 -== Example 19 ==
90 -
91 -== Example 20 ==
92 -
93 93  
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