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Day Trading vs. Swing Trading vs. Position Trading 86 replies

Attachments: Techknow Trading
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Techknow Trading

  • Post #1
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  • First Post: Edited Jun 24, 2024 3:46am Mar 26, 2024 7:16am | Edited Jun 24, 2024 3:46am
I am not selling anything. Period.


I really like the idea of a forum, but I really hate the way they are done. For some reason, the forums are treated like a show-and-tell hour. More than 75% of the posts are just random people posting screenshots of said trades, but for some reason, nobody has a trade explorer or Fxbook.

However, they won't hesitate to show their screenshots, phone pictures, demo accounts, or other nonsensical things without backing. This fosters a negative environment, which in turn fosters bad trading habits and misleading ideas. Up to 100 random people are watching any forum at any given time, and it is just poison to anyone outside looking in.

I have 18 years of experience; this is my full-time job for the last 15 years. I made this account with a trade explorer so I would be transparent. If I am a bad trader, you will see in my explorer.

I am not selling anything. Period.

I spent a lot of my life trading and am at a point where I want to give back the information I have learned to those who are truly interested. I am not a perfect trader, but I am honest and will tell you what you need to hear.

Please always pay attention to the time frames to get a scope of the length of the trades.
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TechKnow
I am watching this insanely easy setup on AUDUSD, targeting the inverse hammer fill, but I will leave half position open to see if I can catch something bigger in the works.
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TechKnow
I posted this before the break out of the original pennant. Im worried all the bears are going to get killed on gold as I keep trying to say it's going to 2370 but everyone is so bearish I think they will just have to see. Longs are well in profit now, and I will just keep them risk-free till, hopefully, they hit my target.
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TechKnow
haha i definitely agree with you , too many people talking and not enough proof... will be subscribing and watchiing closely
SKQT - Super Kool Quant Trader
Daily Remy All Time Return: 6.1%
Watching this on bitcoin currently. Bearish overall target eventually 51-53, but for now, looking for it to roll back over. From here to 72k is all tough resistance.
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TechKnow
I want to bring this back up because I went over it in the other forum, but I'm pretty sure it was overlooked. It is one of the strongest trades you can find. Bit and gold have lots of gaps. You can use these gaps in 2 ways. 1 is trying to take position for the gap close, but it is pretty dangerous. Another way to wait for the gap close and take position if you get a bullish candle during said gap close. Opposite for bearish.
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Another example would be the DXY awhile back. Nice bullish daily candle that closed the gap perfectly. These are insanely strong signals that give you a very clear stop loss and nice risk vs reward. .
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TechKnow
Its time for dinner here in Thailand, ill be back in a little while with some more stuff
TechKnow
  • Post #8
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  • Edited 3:41pm Mar 26, 2024 7:52am | Edited 3:41pm
Someone asked where my DD cut-off is (currently sitting at 10%) , and I'll say for an account this size, I will let it go to 20%, but no more. Bigger accounts I would not let get past 10%. When you manage really big accounts, they will grill you for 2-4%, so I try to keep it as low as possible at all times to create good habits. This means I include hedging a fair amount which one day I will get into but not today.
TechKnow
Quoting Techknow
Someone asked where my DD cut-off is (currently sitting at 10%) , and I'll say for an account this size, I will let it go to 20%, but no more. Bigger accounts I would not let get past 10%. When you manage really big accounts, they will grill you for 2-4%, so I try to keep it as low as possible at all times to create good habits. This means I include hedging a fair amount which one day I will get into but not today.
love all these, thanks for taking your time to share your analysis and helping others with your findings over the past 18 years
Will see if i can catch a bounce on gold here in one of these 2 purple supports to add to my longs. If it closes below both of them or no bullish candle I wont bother.
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TechKnow
I'm not a huge fan of the 4-hour close on gold. There's a big wick there. Gold is making this week exciting. It's the last week of the month, so expect chaos regardless. While gold hovers around these key areas, it needs to close above for the new month to stay bullish. Let's be honest, though. Closing above this line on the monthly is the only thing that matters. A close below could mean a huge fall. Gap-closing type of fall I've been waiting for for ages, it seems. However for now watching closely.
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Side note: We have the final GDP this Friday, and we could possibly see a huge spike up to my target and still manage to close back down below this line; I know it sounds crazy, but gold could do it. Probably won't, but it helps to be aware of all possibilities. Alternatively could spike down and crush stops and then make a move back up.
TechKnow
Quoting Techknow
Will see if i can catch a bounce on gold here in one of these 2 purple supports to add to my longs. If it closes below both of them or no bullish candle I wont bother. {image}
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TechKnow
There could be an expanding wedge here watching tTL for a break to add more, typical overthrow on the bottom side
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TechKnow
Quoting Techknow
Watching this on bitcoin currently. Bearish overall target eventually 51-53, but for now, looking for it to roll back over. From here to 72k is all tough resistance. {image}
Nice movement from this. I like what I'm seeing, and wouldn't mind a break of the purple trend line, but for now, that line is the
next support.
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TechKnow
69134 area for support, then 67 area ish for the purple, Looking for a break of those areas for further south. Obviously this moves around a bit as time goes so I do not use exact numbers, I say ish and area for a reason.
TechKnow
Quoting Techknow
There could be an expanding wedge here watching tTL for a break to add more, typical overthrow on the bottom side {image}
negated
TechKnow
People always ask what the best indicators are or what I like to use when trading. The answer is nothing. Indicators are worthless. Fibonacci is a soft resistance/support, so there is nothing very special about it, it looks pretty and makes you feel good sometimes though I'm not saying that you cannot make money if you master an indicator; I'm just saying you can make much more money without wasting your time on them. Naked charts are by far the best way to trade, but it takes a lot of time looking at charts and feeling the market. However, once you master it, you can pick apart price action without the clutter and fake bias that lagging indicators give you. If you are using one and you think it is working, then that is great. I am merely speaking from experience, and I can tell you I have tried all the indicators in my time.
TechKnow
My longs were stopped + small profit and shorts kicked it at the stop out. To which I closed them with a very small profit. Now I'm flat on gold. I don't like any of the action currently. I will wait for the daily close today to make more decisions. Still think it will go up but i have to play what I see here. Not taking unnecessary chances.
TechKnow
Quoting Techknow
People always ask what the best indicators are or what I like to use when trading. The answer is nothing. Indicators are worthless. Fibonacci is a soft resistance/support, so there is nothing very special about it, it looks pretty and makes you feel good sometimes though I'm not saying that you cannot make money if you master an indicator; I'm just saying you can make much more money without wasting your time on them. Naked charts are by far the best way to trade, but it takes a lot of time looking at charts and feeling the market. However,...
Interesting take , I cant trade without indicators especially Bollinger Bands ! but like the saying goes 1000 ways to skin a cat lol
SKQT - Super Kool Quant Trader
Daily Remy All Time Return: 6.1%
Quoting Erpthetrader
{quote} Interesting take , I cant trade without indicators especially Bollinger Bands ! but like the saying goes 1000 ways to skin a cat lol
Yea, I mean, I know lots of traders that swear by their thing, and I totally respect that. Nobody should ever stop using something that actually works for them because everyone sees the market so differently. To me the gains at the end of the year just were not what I was looking for, I just wasn't able to master them in that way. I use larger time frames, only shorter time frames for entry points. When I scalped a lot more i loved BB but I do not trade so much that style any longer.
TechKnow
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