Making the Trade – Technical Analysis 5

Featuring Dave Floyd

In the fifth installment of Dave Floyd’s series on Technical Analysis, he explains how to efficiently enter and exit trades, as well manage your stops and profits, helping you to become a more effective trader.

Published on
20 February, 2017
Topic
Risk Management, Trading, Technical Analysis
Duration
35 minutes
Asset class
Currencies, Equities
Rating
18

Comments

  • DT

    Dave T.

    7 11 2017 08:55

    0       0

    Dave, what charting software do you use?

  • SW

    Scott W.

    6 3 2017 23:43

    1       0

    Dave,

    Very interesting series, this coming from a guy who was introduced to investing/trading via A Random Walk Down Wall Street. Having shared that, is there a book you can recommend to a newbie on technical analysis?

    Thanks.

  • JC

    John C.

    3 3 2017 14:05

    0       0

    Great video once again Dave thanks. Quick question: when you look at the daily versus hourly charts for EURGDP the stochastics seem to change from <20 on the daily chart (bullish) to above 80 on the daily chart (bearish). In the video you say that you can't get short this yet due to the bullish stochastics, so just am wondering if you give more weight to the daily versus hourly chart or how you look at it when you change the time period of reference. Thanks again.

  • MA

    Meshari A.

    1 3 2017 10:48

    2       0

    Just want to say thanks for these videos honestly and I hope you do more real-time interactive videos with viewers. Its such a good experience and gives us a story to follow and be a part of (as im also looking at a few pairs you keep analyzing such as the NZDUSD). The best part in all this though, is that you have skin in the game. You make your calls on the spot and we track them with you which makes these videos all the more informative. I hope you continue to make series of this nature in the future

  • MS

    Matt S.

    28 2 2017 11:18

    1       0

    How are you scanning for trades Dave? (TXN for example - why did it come p on your radar?)

    Do you run a portfolio of positions or just buy and sell randomly through daily scans?

    And what sort of time frames do you trade? ie how long do you hold positions on average? Thanks!

  • AC

    Andy C.

    28 2 2017 02:47

    0       0

    Excellent video. Would love to hear more on the option strategies and elliot wave. Love that you are using live trade examples

  • DF

    Dave F.

    23 2 2017 18:59

    0       0

    Regarding NZD/CAD at about the 17 min mark in this video, prices have in fact moved higher to meet the forecast price objective. Now the rel fun begins - short at 'attractive levels' or wait for evidence that prices are reversing lower?

  • DF

    Dave F.

    23 2 2017 03:06

    1       0

    Thanks Steven S. If I understand your comment correctly, you are saying that in your experience people are always using examples of trades that have already happened? If so, yes, that is common - so easy to spot something after the fact. The real trick/art is to analyze on the fly in real-time.....that is what I hope was conveyed in this series.

  • DF

    Dave F.

    23 2 2017 03:04

    0       0

    You are welcome Sean B

  • SS

    Steven S.

    23 2 2017 02:07

    0       0

    Your the 1st person I've seen apply technical indicators to trading in 10 years. I didn't try harder to do homework as such but usually people teach the different technical's to 2 year old charts as such. Thank You

  • SB

    Sean B.

    22 2 2017 20:04

    2       0

    Excellent Series! Thank you

  • DF

    Dave F.

    22 2 2017 14:49

    2       0

    Good morning Fraser.

    It is a great question, volume is indeed important....but in the FX markets there is no volume to measure.

    Some platforms, eSignal, do put together a 'quasi' volume and I have heard it is a fairly good substitute.

    Hope that helps,

    Dave

  • FM

    Fraser M.

    22 2 2017 05:53

    1       0

    Dave - thanks for the insights and professional presentation. My question is why you don't consider volume in your analysis? In my view it's an integral part of the technical trading triumvirate; price, time and volume.

  • DF

    Dave F.

    21 2 2017 16:53

    1       0

    Malcolm - there was a mistake that did not get edited out. I sold a Put Spread in SPY but am long a Call Spread in TXN.....sorry for any confusion.

  • RT

    Rune T.

    21 2 2017 07:22

    1       0

    I'd also like some more insights on how you tailor options trading and especially find the "optimal" trade based on your thoughts around price targets and time.

  • EM

    Ewan M.

    21 2 2017 07:07

    2       0

    Aussie/Kiwi is a widow maker. Head and shoulder failures time after time. Thrash around so much. Not for the weak of heart.

  • TM

    Ty M.

    21 2 2017 05:34

    1       0

    Hi Dave, I am a big fan of your videos . Would it be possible to touch on how to identify extension waves like an extended 5th for example. Elliot wave sure is interesting. Thanks

  • MK

    Malcolm K.

    21 2 2017 04:20

    0       0

    Good Stuff. On the TXN trade you started talking about selling a put spread but ended up buying a call spread. What made you make that decision ?

  • DR

    David R.

    20 2 2017 19:45

    12       0

    Second the idea of an options series.

  • DF

    Dave F.

    20 2 2017 18:26

    1       0

    Good idea RI....certainly a topic for consideration down the road.

  • DF

    Dave F.

    20 2 2017 18:25

    1       0

    Thanks Jim M....yes, the Traders Round Table event will be great - however, it will not be in a video - it will be live/in person here in Central Oregon on May 5th and 6th. http://www.aspentrading.com/events/

  • JM

    Jim M.

    20 2 2017 18:13

    1       0

    Great stuff as always Dave. Really looking forward to the live session and roundtable video you alluded to, very inventive and unique. Admire your discipline too. Would hope you'd consider an entire video dedicated to psychology of trading as well.

  • RI

    R I.

    20 2 2017 17:49

    18       0

    Dave - I enjoyed your perspective throughout this series and look forward to seeing a similar series on options strategies.

  • DF

    Dave F.

    20 2 2017 17:43

    1       0

    Thanks Paul. The fundamental narrative definitely gets woven in and I will delve into that more in Video #6....stay tuned.

  • DF

    Dave F.

    20 2 2017 17:42

    3       0

    Phillip - while NGD is important (and yes I am still long) it is not a situation that really fits into this video. Things went belly up at NGD - it sucks, no way to know in advance.

  • PM

    Paul M.

    20 2 2017 17:28

    3       0

    Great insight once again Dave. Real value to relative noobs like myself. Would love to know how you combine fundamentals with these ideas or are they just from a pure technical view? Do you start with a chart or with a fundamental view on most of your trade ideas? Cheers.

  • P

    Phillip .

    20 2 2017 17:25

    1       4

    How come he does not explain NGD collapse?

  • DF

    Dave F.

    20 2 2017 15:38

    0       0

    Thanks Sebastien

  • DF

    Dave F.

    20 2 2017 15:38

    2       0

    Good morning traders. Thanks for watching this video series - here is how to stay in the loop for the 'Traders Round Table at The Ranch - Data Analysis Overload – How to Streamline Your Trading Process to Produce Better Returns' http://www.aspentrading.com/events/

  • SD

    Sebastien D.

    20 2 2017 15:31

    1       0

    Love this Dave, very interesting. Please keep on doing these!