How to create a Trading View account
This is my second favorite trading platform behind Think or Swim by Charles Schwab.
Sign up for a free account to save your charts
Learn how to use the Tools, Indicators, and Replay
Never catch a falling knife (Do not buy in a downtrend)
Only buy in an uptrend
One point = pivot, two points = line, three points = trend
General Notes
In a downtrend, trendlines should be above candles
In an uptrend, trendlines should be below candles
How to identify a pivot point (Direction of price changes - Increasing to Decreasing, Decreasing to Increasing)
One point = pivot, two points = line, three points = trend
Support and Resistance (Horizontal and Diagonal)
Weekly time frame for Horizontal Trendlines
Support can often turn into Resistance
Resistance can often turn into Support
How to use the Replay Function in Trading View
Buying and Selling to practice your entry and exits
Learning to stay consistent
How to identify and mark resistance points
Looking at resistance/Price Targets to represent the opportunity in our trades
How to change the settings
Where to use the Fibonacci Tool
How to interpret
How to use our Fibonacci tool to determine our Entry, Exit, Reward:Risk, Risk Per Share, Risk Per Trade, and How Many Shares we can purchase for our trade.
Highlights
We care more about our risk than the potential reward
Our Reward must be greater than our risk
Limiting our risk allows us to be profitable even when are win percentage is less than 50%
2:1 Reward:Risk requires a 33% Win Rate to Breakeven
3:1 Reward:Risk requires a 25% Win Rate to Breakeven
Create your rules, Follow your rules
Watch several examples of taking profit
In this example we use a 2:1 Reward:Risk ratio ($200 wins:$100 Losses)
If you need a refresher, watch Reward:Risk to see how we determine assure that each trade has the same risk to limit our losses.
Learn how to use Finviz.com along with your personal trading strategy
How to use Finviz.com
How to find stocks based on sector performance
How to find stocks based on an index
Looking through charts to find ones that fit our trading strategy
Dollar-cost averaging (DCA) is an investment strategy that involves regularly investing a set amount of money into a specific investment, regardless of the market price. This strategy can help investors reduce the risk of investing at the wrong time, or "timing the market".
Commonly used in ROTH IRAs, Traditional IRAs, 401Ks, or Passively Managed Accounts (giving your money to an investment company/individual to invest for you and they put it into an index).