The charts below are in the trends as follows based on the positioning of the blue 21 day moving average and the brown 55 day moving average.
Bitcoin, the S&P 500 and Gold are all in an uptrend, Oil is the only one in a down trend.
See previous post for the charts.
February 4th, 2020
As mentioned we are looking first at trend. In this case because the blue EMA (21) is above the brown EMA (55), we will assume we are in an uptrend. We will be going through other ways of determining trend in my training course. You will also learn how to apply a filter to your analysis as an double check.
But, for now, the chart above. The red EMA (8) has crossed above the blue EMA (21) and since we are in an uptrend, this causes us to put in a buy order just above the candle the closed with the above conditions.
Our next task then was to put in a protective stop. You can see a level of support at the red horizontal line. If the price crosses this line, in other words support is broken, we want out of this trade.
I will note the exact details here in my next entry.
February 10th, 2020
There are no changes to report today. The S&P 500, Oil, Gold and Bitcoin continue in their trends.
The S & P 500 trade is still open. When it was placed, it included a trailing stop which I think is the best kind for any beginners out there.
I would also suggest that those of you who trade now, but are inconsistent, use them. If this trade is stopped out, I will expand on the trailing stop and why I placed it where I did.
February 11th, 2020
No changes to our position. The S&P 500 trade is still open and doing well.
Once I am stopped out by way of my trailing stop, I will provide a more detailed explanation of trailing stops.
To get my book, click:
In the meantime I can clarify position size. I always start with a 10% of the portfolio with my stop set that if the price goes against me, I will be out with an overall maximum loss of 2% of the whole portfolio. More to come on this.
February 13th, 2020
Nothing much to report. Our open trade – long the S&P 500 – is still doing nicely. The only change is that I have added a currency pair USD/EUR to our list of symbols. As soon as a trade triggers on this symbol, I will show you a chart and explain how a currency pair works.
In the meantime, if you want to get serious, click: https://charlesgoddard2020-f52a.gr8.com