Example 10 (+ bad entry example)

1. Trend (SMA50 slope)✔
2. Momentum (RSI, Volume, relation EMA15/MA50)✔
3. Timing of entry (Stochastic/ MACD+BB)✔
4. Chart Patterns (static/ dynamic support/ resistance)✔
5. Higher Timeframe (higher timeframe RSI)✔
6. Depth Chart (buyers/ sellers dominance)✔
7. Bitcoin Correlation (6 previous steps applied to BTC, correlations Alts-BTC
and bigger scale BTC structures) 
✔

This was the final example. 

 

In this chapter we have combined all the 7 steps, necessary to make a balanced trade decision. In order to find the trading opportunities with the highest probability. But trading is not only about finding the best trades, it is also about managing risk. Many experienced traders even tell me profitable trading is only about managing risk. 

In the next chapter you will get an in depth look into Risk Management.

Click on the next button to go to chapter 9: Risk Management (advanced)