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    Trading Scanners: What You Need to Know

    Trading Scanners: What You Need to Know

    purepowerpicksTrading Toolsscanners, trade ideas, trade scanners

    Screener vs. Scanner First let’s clear up the difference between scanners and screeners. A scanner is designed for constant, real-time[…] More

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    Losing money trading can be tough on the mentals 🧠  Especially if YOU let the loss snowball into a huge loss‼️ 

Taking losses is a part of the "business" of trading. You're never going to be right 100% of the time, so it's important to know when you're wrong and cut losses quickly. ⚡  And when you do take the inevitable loss, don't let it beat you up and ruin your day. 💯 

Remember, you're in control of your situation when you use stops. 🧙‍♂️ 

Do you place stops❓ Check out these visuals for tips on where you can think about setting your stops to help minimize premature stop outs, maximize gains, and stay in the game. 🎯 

#stop #stoploss #tradingtips
    Here’s a quick ⚡️breakdown / reference on mo Here’s a quick ⚡️breakdown / reference on moving averages. 

What’s your go to Moving Average setup❓Let us know‼️💬

#movingaverage #reference #guide
    Here are 3️⃣ ways you can trade double top pat Here are 3️⃣ ways you can trade double top patterns. More specifically, how to short trade the pattern. 🐻 

📚  Definition of Double Top: A double top is an extremely bearish technical reversal pattern that forms after an asset reaches a high price two consecutive times with a moderate decline between the two highs. It is confirmed once the asset's price falls below a support level equal to the low between the two prior highs.

⚡ Short The 2nd Test: The idea here is to anticipate the double top and short the setup, with the stop being above both the prior tops.

⚡ Catch the Breakout / Breakdown: The idea here is to catch the move after seeing the double top confirmation, with the stop being right below both prior tops.

⚡ Wait for the Neckline Retest: The idea here is to wait for the move back up to the neckline, short with the stop being above the high of the candles at the neckline.

⏲️ This can be executed on all time frames, if scalping/daytrading, use shorter time frames, if swing trading, use longer time frames. Take profits, honor your stop 👑 

What are your thoughts on this post❓ We hope you learned something and next time you see a double top form you're able to execute ⚔️ some great trades‼️ Let us know what you think 💬 

#doubletop #shortselling #howto
    Do you utilize limit orders to buy or to sell your Do you utilize limit orders to buy or to sell your trading positions❓  Using Limit Orders allows traders to buy and or sell once the price reaches a certain level. Traders (especially swing or position traders) do not 🚫  need to be on their screens focusing on each and every tick for a trade to be executed. 💯  And limit orders help allow a trader to be out and about while still being able to lock in gains like a robot 🤖🦾

Often, using limit orders takes emotion ❤️‍🔥 out of the trade and gives traders the power of “setting and forgetting” which is ideal for swing traders / position traders who cannot or do not want be tied down at their trade station to time their exits. Let the trade work as planned! 🎆 

Tip* When placing limit orders, you can set the limit order as GTC (Good Til Canceled) This means that the order stays live / does not cancel until the price level is hit. Upon that event, the order will execute. 💰  You can still cancel the order at anytime if wanted. ✅ 

How have limit orders helped your trading❓ Do you use limit orders❓ Let us know your thoughts 💬 

#limitorders #tips #swingtrader
    We love this quote and many other quotes by #Jesse We love this quote and many other quotes by #JesseLivermore 💰 🎣 

How are you navigating the market these days❓ Let us know‼️ 💬 

IMPORTANT* >>> Always remember, that there will 100% ALWAYS be another opportunity to trade 💯 
So if you find yourself with emotion running high ❤️‍🔥 
It's ok to sit on hands, or in the case of the quote, go fish 🐟 

Clear your mind and be ready to hit the next opportunity strong 🦾 🚀 

#inspirationalquotes #bullish #bearish
    If you're a #beginner trader wanting to learn how If you're a #beginner trader wanting to learn how to read #charting - this simple overview is what you should look 👀  for to determine whether the stock is #bullish 🟢 , #bearish 🔴  or neutral.

Use a time frame like the Daily or Weekly to get an overview of the trend, then you can "zoom in" to 4hr, 1hr, 30min, 15min, 5min and lower to see how the trend is working intraday.

Tradingview is a great tool and offers free charting ✅ - if you don't have charting for your trading, that's what we recommend.

You can start charting stocks / equities today, and learn the language of the markets‼️ 

#trading #trends #simplified
    Have you ever heard the term choppy trading and wa Have you ever heard the term choppy trading and wasn't sure what it meant❓  Here's a helpful infograph that will clear things up for you 🙏  You will hear time and time again that it's best to avoid trading chop zones! It's better to be patient and wait for an opportunity outside of the chop zones where an extended breakout trend can form 🚀  This is where you can ride the trend, and let your winners run for better gains 🎯 

Do you find yourself getting chopped out of your positions lately? Let us know what you look for to avoid trading in the chop 💬 

#choppy #trading #stocktradingtips
    Do you think we saw the bottom in the S&P 500❓ Do you think we saw the bottom in the S&P 500❓

What level do you think investors will Capitulate in 2022❓ 

We're curious to see what our community thinks, let us know in the comments below 💬 

#capitulation #question #stockmarket
    Have you ever heard “don’t catch a falling kni Have you ever heard “don’t catch a falling knife.”❓It’s pretty sound advice! Right now, in today's market these falling knives are all over the place. 🔪🩸 It’s important to be very patient and really wait for the price to bottom out BEFORE buying‼️ 

Averaging into the position is smart as well, because no one knows where the exact bottom will be! 🧠 

Buying into a market with extreme downside momentum can be very dangerous and risky, ⚠️ much like trying to catch a real falling knife 😱 Instead of trying to catch the falling knife, traders should be looking for a confirmation of a trend reversal. 

Think of the knife needing to fall to the ground and come to a stop before picking it up 🤘

Keeping an eye on the RSI on the daily time frame (relative strength index) for signs of a stronger uptrend would be ideal.

#fallingknife #bearish #recession
    In the current market this is a bearish pattern th In the current market this is a bearish pattern that's forming all over the place, on all sorts of assets and securities. 🐻 📉 

Here's an example of how to trade bearish engulfing patterns. This pattern can prove to be profitable when executed correctly. 🎯 💰 

⭐ Remember, you can make money in both bear and bull markets. Trade safe‼️ 

What are your thoughts on Bearish Engulfing Patterns in the current market action❓  Let us know in the comments below 💬 

#bearish #bear #bearishengulfing
    Pretty evident we're in a bear market... 📉 Ho Pretty evident we're in a bear market... 📉 

How's everyone feeling❓ 

Where do you think we're headed❓ 

Let us know your thoughts for future price action in the comments below 💬 

#bearish #crash #bearmarket
    What are your thoughts❓ Do you believe this quo What are your thoughts❓  Do you believe this quote from Jesse Livermore❓ Knowing that the market is designed to mess with your emotion / psyche is key 🔑  for thinking like the Market Makers / Algorithms 🧠 

#JesseLivermore #quoteoftheday #psychology
    For consistent trading success - it's important to For consistent trading success - it's important to have a strong 🦾 grasp on supply / demand when entering & exiting trades to have a chance at securing maximum profits 💰  with strong risk management backed by true technicals. 💯 

Traders that understand supply / demand levels are able to find high probablility setups & Rally-Base-Rally & Drop-Base-Drop are basic patterns of supply / demand. So we think this is a helpful technical analysis infographic for traders wanting to learn more 🧠 

➡️ Demand zone is the price area at which the traders usually buy. This area is present below the current price, where the buying interest or potential is the highest.

➡️ Supply zone is the price area at which the traders usually sell. This area is present above the current price, where the highest selling interest or potential.

Utilizing volume 📶  is a must & can help traders identify 🔎 when the breakout is happening or confirmed. Volume precedes price! 🏆 

What are your thoughts and or questions on supply / demand❓ 
Let us know your thoughts in the comment section below & we will reply 💬 

#supplyanddemand #supplydemand #tradingstrategy
    Here's a breakdown of various day trading strategi Here's a breakdown of various day trading strategies that are common during each trading session. 👀 

Bell/Open Trading 🛎️ Quick trades here, can be very volatile but traders can catch really strong bounces to both bullish/bearish sides. These scalp trades happen in the first 30 minutes of market open. Timing is critical!

Momentum Trading 💥 Catch breakouts as momentum builds, look for bounces off strong support levels or fails off strong resistance levels. Watch for premarket levels to be broken and atch for trends to form and volume pick up for powerful momo.

Reversal Trading 🔃  After the morning momo slows, look for breaks in trends that are confirmed by not reclaiming the trend, leading to excellent opportunites to catch intraday fades / or reversals to the upside.

Range Trading 🤖  Play smaller moves later in the session as volatility slows down. The moves might not be large all of the time, but can often be predictable, less risky, if and when the price bounces off support / resistance levels cleanly.

Power Hour Trading ⚡ The volatility picks up as well as volume in the final trading hour of the day. Traders can take advantage of strong, swift movement as the market moves towards closes and traders exit and enter positions.

What is your favorite method of day trading❓ Let us know!

#tradingstrategy #daytrading #daytrader
    Do you know your Triangles?🚩 📐 ▶️ It's Do you know your Triangles?🚩 📐 ▶️ 

It's important for traders to be able to recognize these basic trianlge patterns that form on all trading time frames. Understnading how these patterns breakout is necessary for all traders.

What are your thoughts on these triangle patterns❓  What is your favorite method to trade them, and why❓

In our opinion, Ascending and Descending Triangles can be some of the most reliable technical patterns to trade. Focus on volume and be patient 🙏 A planned execution and defined targets 🎯  are key🗝️ because they wont work 100% of the time. 💯  That goes for all trading, you're only as strong as your risk management 🧠 

Let us know your thoughts on triangle patterns in the comment section👍  We will reply ✅

#technicalanalysis #ascendingtriangle #descendingtriangle
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