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Continue reading →: Trader Skills #26 : Leg CountingIntro In price action trading we look at relationships. As price moves in pulses / waves we look at their relationships to each other and what came before it. In the hope to profit from what comes after it. Counting these helps improves our price action reading skill. This can…
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Continue reading →: Practice Drills #2
Todays research ideas I reviewed: 1. Tight channel, break trend-line, new low, reversal 2. Which side is controlling price and time more clearly? 3. Have those limit order traders got a profit targets to justify their risk? 4. Pullback = actual risk => target 1 – 2x aRisk 5. Traders…
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Continue reading →: Practice Drills #1:
New style of post. I research other traders I like and take notes. I watch webinar recordings, read their books, videos, whatever I can find. Then I use those notes as my homework for the day. So for each item I will do a certain # of charts or #…
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Continue reading →: Letting Go
Intro One of the great things about trading is that it is constantly teaching me to let go. I cannot control the outcome no matter what. I can control the process. I can select a reasonable entry. I can select the correct stop. I can select as appropriate target based…
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Continue reading →: Trading Skills #25: 60m targets on the Open
I’m hoping this little piece on 60m targets from the ETH and RTH into the open will help you swing for the fences! ETH 60m session top left RTH 60m session bottom left Little lines on the 60m charts (Left) are 1R targets. By aligning myself with these targets I’m…
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Continue reading →: Trader Skills #27: Emotional Training in TradingIntro Today’s post comes from a friend who asked me to review his trades. It takes courage to do this. I don’t like doing it, but I’ve trained myself to do it anyway. I have used the information to structure a formal post. It has recommendations and lacks anything personal…
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Continue reading →: Trader Skills #24: Weak SB Good FT | Strong SB Bad FTPremise This review focuses on the follow-through bar (FT) and market trends. It identifies if the market is in a trend or trading range. Traders make decisions based on context and the signal bar. Context or the trend matters more than the signal bar for reversals, not trends. A strong…
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Continue reading →: Trader Skills #23: Trading Ranges Second EntriesSummary – Trends BO and FT – Trading Ranges don’t – so they fail and reverse and FT – So fading BO’s in the TR is the key skill to develop Investigation – In the chart below, you can see one side DOESN”T get the 2nd entry… that’s a sign…
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Continue reading →: Trader Skills #22: Pullbacks after 5 – 6 barsIntro This is a funny one. I’m not sure if it is one of the RAS (Reticular Activation Systems) things where once you hear about it you find it everywhere. Seeing what you wanna see is a classic trader error I have to be aware of in myself. Either way…
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Continue reading →: Indicator – Breakout OverlapChart Link https://www.tradingview.com/script/azz12NIL-Zen-Breakout-Overlap-v1/ Summary How to use: Enjoy!
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Continue reading →: Trading Skills #21: Spikes – H1/H2, L1/L2 and Failure– One of the key skills I need to day trade is the ability to distinguish between a trending environment and a trading range environment. – One way to do this is using Al’s inertia concept “In a trend, 80% of reversals fail. In a trading range, 80% of breakouts…
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Continue reading →: Indicator – Spike BreaksIntro Please find a spike break indicator for research Indicator https://www.tradingview.com/script/EcZyPa3A-Zen-Spike-Break-v1/ Code For those that are interested the code is here. //@version=5 indicator(‘Zen_Spike_Break_v1’, overlay=true, max_lines_count = 500) bool plotspiketermination = input.string(“On”, “Show spike termination?”, options = [“On”, “Off”]) == “On” bool plot4H_or_4L = input.string(“On”, “Show 4 Highs or Lows?”, options…
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Continue reading →: Trader Skills #20: Trading Ranges: Failed BO + FTExploring the impact of a failed BO + FT (Breakout and Followthrough) outside of key magnets (OHLC today / yesterday) and how we can use it to take TR (Trading Range) entries in a TRD (Trading Range Day) Summary from below research: – Failure to get BO+FT highly related sign…
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Continue reading →: Trader Skills #19: Explorations in 2R– The Risk of Ruin chart below clearly shows how difficult it is to blow an account getting 2:1 actual or initial risk. – If anything, most newer traders have high hit rates (scalping / closing before targets) but have largest loss > largest win and average loss > average…
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Continue reading →: Trader Skills #16: Trading Ranges – RIP A once good trader lies here…Ah you were my first love. Then we had a strong breakup. Now whenever we are together it is extreme! To be with you cost me a lot of money. But that investment was the best one I ever made. I have learned more from those days than any other.…
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Continue reading →: Trader Skills #15: Breakout tradingHere is an ongoing post where I am exploring different aspects of breakout trading. Firstly I look at a qualifying leg and how it impacts what comes next. Secondly I look at breakout gaps (low overlap with prior bar) as a micro-guide to the qualifying leg concept above. Lastly I…
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Continue reading →: Trader Skills #14: Doubles (DT and DB)– This week was an interesting week for the classic double top and double bottom trades. – In fact in uncovered some flaws in my own price action reading that I believe will be valuable for me, so I’ll try and articulate them as best I can for others. –…
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Continue reading →: Trader Skills #12: The Bear ChannelAh my old friend. You were there when I removed money from my account again and again. What makes you so persistent? Ways to trade a Bear Channel – Follow the breakout and catch a second leg – Wait for any 2nd reversal to fail – Reduce the timeframe to…
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Continue reading →: Trader Skills #11: The Escape Hatch – 2nd Chance ExitsThe market is quite funny. The more observing I do, the more fair and balanced I see it. This is the total opposite of what happened for me as a beginner trader. I saw the other side making money, and me, well, giving it to them! But it seemed that…
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Continue reading →: Trader Skills #10: Testing EverythingI miss my Grandmother Leslie. She was a wonderful human being who tested, checked and rechecked everything to make sure it was impossible for her grandchildren to hurt themselves. Little rubber corners on tables, small gates to stop sleepwalking, testing locks and anything that was attached to anything else. Nowadays…
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Continue reading →: Trading Skills #9: ExperienceQuote There is a quote I read the other day: “Good decisions come from experience, and experience comes from bad decisions.” Now in trading, bad decisions cost time and money.A And we all want to minimize it (not eliminate it.) But how to minimize bad decisions but maximize experience? How…
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Continue reading →: Trader Skills #8: 1st Reversal Likely MinorIntro In a previous post I have covered the same principle from a different angle. My intention is that it will support the selection of higher probability (higher %) trade selection. See: Trader Skills #4: Two Attempts Concept – Market cycle -> Breakout -> Tight Channel. – Next market structure =…
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Continue reading →: Trader Skills #7 : ChannelsIntro Ah sweet channels. – They are the bane of a beginner trader I believe. – Yet now they are my favorite areas to trade. – For they look so obvious after the fact. – If you really connected every possible channel on the chart, you would be unable to…
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Continue reading →: Indicator: Session Time Bar Counting / HighlightingThis indicator helps highlight a RTH timeframe on a 24 hours instrument. Ie FTSE and DAX cash index but you want to only trade the higher volume times https://www.tradingview.com/script/GbFjgRwg-Session-Bar-Counting
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Continue reading →: Indicator: Outside Bars and Inside BarsThis one is useful for scalping in TTR markets. There are many settings. I’ll write another post on it soon. Here is the link: https://www.tradingview.com/script/ssNFoEU5-Zen-OB-IB-v8/
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Continue reading →: Indicator: Bar CountingHere is a bar counting indicator to help highlight x number of bars. This can help you see the HTF, 15min chart while staying on the 5 min. https://www.tradingview.com/script/ttkvUEVN-Zen-Bar-Count-v1 Enjoy!
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Continue reading →: Indicator: Z Bars (Big Bars)Concept Link here: https://www.tradingview.com/script/tyYbvaQj-Zen-Z-Bars-V1 There are a whole bunch of setting you can play with. Examples Trading Range Day
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Continue reading →: Day Trader Skills #2: Open – Testing Yesterday’s OHLC MagnetsConcept A common pattern on the open is a reaction to the OHLC of yesterday’s price action. In particular, the High(H) and Low (L). This is not a surprise considering every bar on the chart is testing the H and L of the bars before it. The market will often…
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Continue reading →: Day Trader Skills #1: The Opening RangeIntro One skill that helps me trade is the ability to read the opening range. Definition The Opening Range is ambiguous. But for my purposes here I use the following: Principles that help me find trades: Example Charts Here are some charts showing the mark up I like to practice…
Hi,
I’m Tim
Welcome to Zen Trading Tech.
I’m a Aussie day trader and I post trading tips, practice drills, and indicators that helped my trading get to a professional level.
Everything here is to help train the eyes and hands to trade better. If it helped me I’ll post it for others. Hope you enjoy!
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