Daily4x Trader's Group

How to Trade

With the indicator added to your TradingView charts you will see a flag when a trade is being suggested.

Red 'Sell Flag' indicated a potential short/sell trade.
 

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Green 'Buy Flag' indicated a potential long/buy trade.
 

Upon getting an trade signal, you must do some due diligence and decide if you want to enter a trade.  No indicator will ever be right every time.  Some things each trader should consider before entering a trade are:

  • Time of day and day of the week

Is it the beginning of the trading week or Friday as the markets are winding down for the week?  Is a trading holiday coming up ?​

  • Fundamental Analysis/News

Are there significant economic news or events coming such as a Central Bank rate decision, US Non Farm Payrolls, Retail Trade, or some other political activity that may greatly influence your chosen asset you are trading?​

  • Basic Technical Analysis

Each trader should have some basic understanding of technical analysis.  Is the indicator suggesting a trade that goes against an strong trend?  Is the price at an all time low or high or nearing some strong support or resistance levels?​

  • Our Trading Advice

Using the points above in considering every trade, we also like to use Pivot Points as potential exit areas.​  Pivots points can be reasonable trade exits.  Trade suggestions can often provide quick gains of 20 pips at which time we usually recommend exiting all or part of your position and setting a stop loss or activating a trailing stop and let the trade run as you will sometimes see the trade runs for many more pips.  

Pivots Points can give a quick view of potential profit levels.