Candlestick Charts Types of Orders Price Action Examples Change Your Mindset. Trading Styles. BearBullTraders.com. All Right Reserved.

Transcription

1 Candlestick Charts Types of Orders Price Action Examples Change Your Mindset Trading Styles

2 Most common chart in the trading world 2

3 High Close High Open Open Low Bullish Candle Close Low Bearish Candle 3

4 Market Orders Orders that are placed in the current price and are executed immediately depending on the broker execution speed Limit Orders Orders that set the maximum or minimum price you are willing to pay for a security or pair Stop Orders Only are triggered when a certain price is reached not before that Essentially become Market Orders once the price reaches the set price 4

5 Market Orders Method 1: One-Click Trading Click this arrow to open/close One-Click Trading Select lot size, click buy or sell 5

6 Market Orders Method 2: New Order Window Open Order Window Or press F9 6

7 Limit Orders Method 1: On-chart Trading Lot size determined by one-click trading panel Right-click below the current price Buy Limit Order Right-click above the current price Sell Limit Order 7

8 Limit Orders Method 2: New Order Window Open Order Window Or press F9 Select Pending Order Select Limit Buy or Limit Sell Specify Price Can be modified as long as not executed 8

9 Stop Orders Method 1: On-chart Trading Right-click above the current price Buy Stop Order Right-click below the current price Sell Stop Order 9

10 Stop Orders Method 2: New Order Window Open Order Window Or press F9 Select Pending Order Select Stop Buy or Limit Sell Specify Price Can be modified as long as not executed 10

11 Modify orders on chart Drag the Limit or Stop Order up and down to modify manually Right-click on the order and modify the price 11

12 Stoploss (SL) A set price specified by you to protect yourself and define risk A type of Stop Order which is triggered when the price reached a certain level Target Profit (TP) A set price specified by you that defines your profit 12

13 SL and TP setting For a Buy Order: Drag Down and place manual SL; Drag Up to set the TP Right-click and modify to set the TP and SL For a Sell Order: Drag Up and place manual SL; Drag Down to set the TP 13

14 NO Indicators Read the Trader s Behavior from the [Result=Candle Shape] Candle Body Large Body, no tails: Strong consensus among traders about the move Small Body, large tails on both sides: Trades are split, indecision in control 14

15 Candle Tail Large Tail at the bottom: strong close far up from the low of the candle. Lots of order filled and price left the low, but Large Tail at the top: strong close far lower from the high of the candle. Lots of order filled and price got rejected from the high, but 15

16 Create a Story: Use Candles Before or After Bullish Engulfing Candle: a strong change in the consensus to the upside, but Bearish Engulfing Candle: a strong change in the consensus to the downside, but 16

17 Pay full attention to the facts! A good story contains all the facts not only part of the facts. Bullish Engulfing Candle: a strong change in the consensus to the upside, right??? Bearish Engulfing Candle: a strong change in the consensus to the downside, right?? 17

18 Heuristics and Biases Your Eyes See What You Want Them To See! 18

19 Heuristics and Biases Your Eyes See What You Want Them To See! 19

20 Heuristics and Biases Your Eyes See What You Want Them To See! 20

21 Heuristics and Biases Your Eyes See What You Want Them To See! 21

22 Heuristics and Biases Your Eyes See What You Want Them To See! 22

23 See What Is Important To See 23

24 See What Is Important To See 24

25 Timeframe differentiates us And also How Much Money You Have Short Term Daily/Hourly/Min profits Get in and out in a jiffy Heavily Technicals Use Indicators News are important Price Action is important Loss and Wins Retail Traders Long Term Monthly,Weekly profits Cant s get in and Out in a jiffy Heavily Fundamentals Use Indicators haha News are important Create Price Action Only Wins Institutional Traders 25