Recommended trades for beginners
https://www.gogojungle.co.jp/tools/indicators/86097
How are you all spending Silver Week?
Because my child is preparing for exams, I can't go out with the family and I go fishing alone.
Yesterday was completely no good due to strong winds... (;^_^A
Now, today I would like to write an article about a trading method that is especially recommended for beginners.
For now, if the 5-minute chart (higher timeframe) looks feasible, take timing on the 1-minute chart (lower timeframe).
Rather than just excerpting particularly good parts, I will explain it using the most recent chart.
On the right is the 5-minute chart, on the left is the 1-minute chart.
I have marked numbers with ① on the 5-minute chart.
I have also marked on the left 1-minute chart, but they both refer to the same time period ©tart (tart?)
In Trade Core, the rule is to take a position with the blue ● as the trigger using signals and the Heikin-Ashi method, so when the red ● signal confirms on the 5-minute chart and a signal appears on the 1-minute chart, it’s OK.
In other words, on the 1-minute chart this would be at the pink handwritten arrow location.
Next is section ②.
This time it’s a buy.
If a blue ● signal appears on the 5-minute chart and a buy signal also appears on the 1-minute chart, it’s OK.
It retraces in the middle but has risen without hitting a stop loss.
What to pay attention to is after the symbol ② on the 1-minute chart, a sell signal appears, but on the 5-minute chart ② indicates a buy, so you cannot sell.
Well, as per the basic rule of checking Dow, it’s better not to enter when higher highs are being made, as explained in the manual.
In this way, it is also possible to capture Elliott Wave 3.
If you’re wondering what Elliott Waves are, this tool isn’t directly tied to that, so you can skip it, but it’s not harmful to know, so please look it up!
Next is ③.
And ④⑤.
What you should note is that these points are introduced for beginners who don’t quite understand Dow Theory.
Of course, depending on market conditions you may lose.
It is still a tool based on Dow Theory trend following, so that remains the main focus.