Spot on – Plan your trade and trade your plan
“Picking the sweet spot” was the headline of our last chartbook. A sweet pick it was ; we truly called it this time, all the way to the shape of the candle stick that would provide the formation building bar. A bullish doji in this case. We don’t mean to boast our skills here, far from it. For a trader it is important to be humble and stay emotionally neutral, not to say a bit of padding ones back can’t be useful for maintaining good confidence, an essential ingredient for good market play. No, we are pointing out of how essential it is to try to create a vision of the future. Should “luck” allow for a match of foresight and reality, it is all about: Spot on – Plan your trade and trade your plan.
Why is this a trading principle?
Well think of it like this. No matter if you are a monthly player, a weekly player or time frames much below these time horizons, execution itself is always just a mouse click. A fraction of a second determines the difference between an exposure of capital. And as such an emotional exposure to a world of uncertainty. All the circumstances that lead up towards this last moment of making this step into a different world are influencing the precision of this moment of execution. Like in the world of competitive sport for example. An analogy often used to compare trading to. It is said that the race is won before it started. Focused visualization is common practice in all Olympic disciplines among the best in their field. Great traders do alike and a precursor is detailed planing of ones trades.
Imagining various scenarios like we did in last weeks chart book and leaving little to chance is providing the foundation necessary. In the heat of the battle the strategic plan is clear and supports focus in lower time frame execution. This is especially important in the choppy environment that the summer doldrums provided, which is very distracting.
Daily chart of BTC/USDT, 28th of July 2019, double bottom in support zone:
Bitcoin in Tether US, daily chart as of July 28th 2019
The chart above is identical with our previous chartbook. We assumed a turning point and assumed the way it be turning and timing as well. Do we know the future? Of course not. What we do know so is that a certain future will be of interest to us since it will allow for us a low risk entry point and a possible reward scenario that fits our criteria.
BTC/USDT, daily chart July 28th 2019, bullish hammer candle stick formation indicating a possible reversal:
Bitcoin in Tether US, daily chart as of July 28th 2019 b
Only a few hours after our last weeks chart book publication, the first criteria on the daily time frame had manifested. Just as we hoped a washout move to the downside had created a candle wick in favor for an entry.
(We missed the low of the day prediction by 100 points and provided our first entry possibility as seen in the last chart of this publication in real time in our Telegram channel)
Spot on – Plan your trade and trade your plan, daily chart of BTC/USDT July 30th 2019, uncertainty:
Bitcoin in Tether US, daily chart as of July 30th 2019
The following two days as seen in the chart above were bottom building uncertainty bars. These small range doji bars provided for further entries.
(detailed entry timing can be found on the last chart of this publication marked in green up arrows)
Spot on – plan your trade and trade your plan, daily chart of BTC/USDT, 3rd of August 2019, steep up move:
Bitcoin in Tether US, daily chart as of Aug 3rd 2019
And the rest as they say is history. So far the move up, from its swing, low has a range of 18.5 percent ($9165 to $10862).
BTC/USDT, 60 min chart July 28th 2019, low risk entries, spot on – plan your trade and trade your plan:
Bitcoin in Tether US, 60 minute chart as of August 3rd 2019
Here are the three provided entry spots we posted into our Telegram channel. With stop targets no larger than 50 points below entry levels and a multi day rally of 18.5% profit potential, this scenario planed and executed allowed for phenomenal risk reward opportunity.
Spot on – Plan your trade and trade your plan is not just the title of this crypto market chart book, it is a philosophy that allows for easier execution and a higher probability to consistently extract winnings out of the market.
Join our free Telegram Group :https://t.me/joinchat/HGe22hDDEEl0LvFGAgEZ9g
All published information represents the opinion and analysis of Mr Korbinian Koller & his partners, based on data available to him, at the time of writing. Mr. Koller’s opinions are his own and are not a recommendation or an offer to buy or sell securities. Mr. Koller is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations. As trading and investing in any financial markets may involve serious risk of loss, Mr. Koller recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications.
Although a qualified and experienced stock market analyst, Korbinian Koller is not a Registered Securities Advisor. Therefore Mr. Koller’s opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction. Past results are not necessarily indicative of future results. The passing on and reproduction of this report, analysis or information within the membership area is only legal with a written permission of the author.
Important Trading Risks and Earnings Disclaimers - Terms of Use
RISK DISCLAIMER: All forms of trading carry a high level of risk so you should only speculate with money you can afford to lose. You can lose more than your initial deposit and stake. Please ensure your chosen method matches your investment objectives, familiarize yourself with the risks involved and if necessary seek independent advice.
U.S. Government Required Disclaimer - Commodity Futures Trading Commission. Trading financial instruments of any kind including options, futures and securities have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the options, futures and stock markets. Don't trade with money you can't afford to lose.
NFA and CTFC Required Disclaimers: Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of experience and risk appetite. Do not invest money you cannot afford to lose.
EARNINGS DISCLAIMER: EVERY EFFORT HAS BEEN MADE TO ACCURATELY REPRESENT THIS PRODUCT AND ITS POTENTIAL. THERE IS NO GUARANTEE THAT YOU WILL EARN ANY MONEY USING THE TECHNIQUES, IDEAS OR PRODUCTS PRESENTED. EXAMPLES PRESENTED ARE NOT TO BE INTERPRETED AS A PROMISE OR GUARANTEE OF EARNINGS.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAN ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All information presented or any product purchased from this website is for educational and research purposes only and is not intended to provide financial advice. Any statement about profits or income, expressed or implied, does not represent a guarantee. This presentation is neither a solicitation nor an offer to Buy/Sell options, futures stocks or securities. No representation is being made that any information you receive will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results. Please use common sense. Get the advice of a competent financial advisor before investing your money in any financial instrument.
Terms of Use: Your use of this educational website indicates your acceptance of these disclaimers. In addition, you agree to hold harmless the publisher and instructors personally and collectively for any losses of capital, if any, that may result from the use of the information. In other words, you must make your own decisions, be responsible for your own decisions and trade at your own risk.