Develop Your Trading Edge
Here are my tips and strategies I use when trading my winning trading strategy to increase my trading edge and profitability.
Hopefully, you can use what you will learn today to develop your trading edge.
It is important you understand that almost all traders can and know the basics of technical analysis; therefore, it will not give you any great edge in the markets.
Let me explain, there is no holy grail out there and no trading strategy will always work, and you will not earn money to simply take a trade when the MACD crosses or stochastic are oversold.
What I do, and what you want to do, is learning how to read price (the relationship between buyers and sellers).
Watch The Video Below:
How To Develop Your Trading Edge In 3 Simple Steps
Here is a truth for you, all winning trading strategies are based out of price action because that is what works. I like to keep it simple and for me price action is:
- Support and Resistance Levels/Zones
Looking at these 3 steps I can trade with and edge and positive reward to risk.
1. Support and Resistance Level/zones
Support and resistance levels and zones or whatever you want to call them are essential in trading.
The importance of levels is huge because of major banks, institutions algorithms trade at a specific price level that creates turning points that make them key levels where you can enter and exit your trades.
What is volatility? In simple words, you can say that volatility is a measure of how large the price moves are. The higher the volatility, the riskier the security. When I look at volatility I look for how the volatility in the security changes from low volatility and high volatility.
Low and high volatility times are often where the best opportunities appear.
For example, I love when price spikes into a level late in trends or when price spike out of a level after low volatility period.
Symmetry is something I use to find levels where we probably will pause or reverse.
Price will often have similar moves and I use that in a powerful way when I trade and so should you. Symmetry really is so powerful and beautiful. You will see that in the video too.
I am confident that if you learn and use these 3 steps in your trading, you will develop your trading edge.