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Online Trading For Beginners - Step by Step Trade Easy to Understand
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Here we are with the third trade of the day on the Es. I've also had two on the 6E so
not a bad day at all for the day after a holiday. If you haven't seen one of my trading videos
before then I recommend you see a few others if you area beginner. There is a playlist
for beginner's in my channel. It's targeted at online trading for beginners.
If you are a more intermediate trader than this should be pretty interesting to you.
I'm going to assume you already know what support and resistance are and other trading
basics. If not definitely take a look at some of my other videos. Ok enough about that let's
talk about this particular trade.
It's a pretty clear cut trade that I took with no hesitation whatsoever. As always the
first thing I do after taking a trade is I measure the Fibonacci extensions. On this
particular trade they all lined up at the OB and cluster of 100% Fib extentions. That
was my anticipated exit point.
This trade is one of those that has to pop through the money line. The previous trade
worked out quite well so the same is anticipated for this one. As always if it doesn't break
through the money line it can potentially fail.
We do get a pretty quick pop through this area and are not really concerned with divergence
because of the fact that it has already been broken on this trend. After holding through
the break of the money line for over 20 minutes (we had some minor consolidation on both charts)
we finally get a strong pop through. This can clearly be seen by the closing of each
of the individual bars.
However on the other hand the market has been running to the upside for over an hour
and has barely even move up. Around midway through the trade I realize a mistake that
I made by not having the target one tick from the cluster of Fibs. I adjust
this
and eventually it does hit my target.
This trade ended with a good lesson which is make sure you follow your plan as close
to 100% of the time as possible. I hope you enjoyed this video which talks about online
trading for beginners.