Hey Trader,
A Message of Encouragement for Your Trading Journey
I hope this email finds you well. As you continue your journey in the dynamic world of retail trading, I wanted to share an inspiring verse with you:
"Therefore encourage one another and build each other up, just as in fact you are doing."
- 1 Thessalonians 5:11
In trading, as in life, challenges and opportunities go hand in hand.
Remember that every market movement is a chance to learn and grow.
Stay connected with fellow traders, share your experiences, and support one another.
Together, we can build a community that uplifts and strengthens each member, helping everyone achieve their goals. Keep pushing forward with confidence and resilience.
Your hard work and dedication are truly inspiring!
Be Relentless In Pursuit Of The Will
Which God Has Set Upon Your Heart,
Anthony Speciale
Fourth Time Was A Charm
Hello everyone, Anthony here from Speciale Analysis. I hope you're all having a wonderful day.
Today, I want to discuss the importance of having a proven trade plan, using a recent trading experience as an example.
This blog post aims to underscore the critical elements of a trade plan and how it can be the difference between success and failure for retail traders.
In the world of trading, understanding market trends and patterns is fundamental.
Recently, I observed an upward trend in the crude oil market.
For those who have been following these videos, you know that market trends can present opportunities for both long and short trades.
However, deciding when to short a trending market requires careful analysis and logic.
The Role of Support and Resistance Levels
In my recent trades, I identified key support and resistance levels around the 82.30 and 82.40 marks.
These levels had previously held significant market movements, which made them crucial points for decision-making.
As the market approached these resistance levels, I looked for signs of divergence between price and cumulative Delta—a measure of the difference between buying and selling pressure.
Timing is everything in trading.
I attempted several short positions at these resistance levels, targeting 81.80.
Each time the market moved in my favor, I adjusted my stop-loss to my entry point to minimize risk.
This strategy allowed me to stay in the game without taking significant losses.
Even when the market did not immediately move as anticipated, my risk management plan ensured that I only incurred minimal losses.
NOTE: The image below shows the 0945 candle exhibiting 50%+ of it's net buying delta trapped inside the top 2 ticks of the overall candle. Notably, the 0950 candle showed a strong sell side imbalance, net buyers trapped and absorbtion with -1 delta @ $82.48.
The Psychological Aspect of Trading
Trading can be stressful, especially when your strategy involves multiple attempts to capture a move.
During this particular morning, I had to endure several stop-outs before finally achieving my target.
It was a test of patience and perseverance.
The key takeaway here is to stay disciplined and adhere to your trade plan, even when things don't go as planned initially.
Each trade, whether successful or not, provides valuable lessons.
By analyzing the market's reaction to different levels and understanding why certain trades did not work out, you can refine your strategy.
For instance, I observed a high level of net selling after a significant push higher, which indicated that the market might reverse.
This insight helped me make more informed decisions in subsequent trades.
The Value of a Structured Approach
A well-defined trade plan brings structure to your trading activities.
It helps you stay focused, manage your time effectively, and make decisions based on analysis rather than emotions.
For instance, I decided to step away from the market after a particularly frustrating morning, recognizing the importance of maintaining a clear and objective mindset.
Having a proven trade plan is indispensable for any retail trader.
It provides a framework for making informed decisions, managing risk, and maintaining consistency.
My recent trading experience underscores the importance of sticking to your plan, learning from each trade, and staying disciplined.
I encourage you to develop a trade plan tailored to your trading style and objectives.
It may take time and effort, but the long-term benefits are invaluable.
If you have any questions or would like to learn more about developing a trade plan, feel free to reach out. Wishing you successful trades and steady growth!
Thank you for reading, and I look forward to seeing you in our next session.
God bless, and have a wonderful day!
If you have any questions or need further guidance, feel free to reach out. info@specialeanalysis.com May the markets be ever in your favor!
Happy Trading,
Speciale Analysis
About the Author:
Anthony Speciale is a seasoned market analyst with over 13 years of experience trading. Through his platform, Speciale Analysis, he offers in-depth market analysis, interpretation, and expectations designed to help all types of traders, at every skill levels reach their full potential.
Analysis, Interpretation & Expectations
Day, Swing & Position Trade Analysis
Daily LIVE Market & Orderflow Analysis
NOTE: Trading involves significant risk, and it's essential to approach it with a well-defined strategy and a disciplined mindset. This blog post is intended for educational purposes and should not be considered financial advice. Always conduct your own research and consult with a professional before making an financial decisions. For further risk related information, please refer to: www.specialeanalysis.com/disclaimer
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