The Candlestick Trading Bible - Learn to Read Patterns today + The Bible Options
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The Candlestick Trading Bible - Learn to Read Patterns today + The Bible of Options (E BOOKS)
Why the two Trading Bibles are the Simplest Method Ever?
Trading Bibles are based on the T.L.S. method, which is one of the most important principles in the Candlestick Trading Bible approach.The T.L.S. method stands for Trend, Level, and Signal. In other words, when you open your charts, you will look for three important elements:
The trend: you will identify the market trend, and decide whether it is an uptrend, a downtrend, or ranging.
The level: you will find the key levels in the market, which can be support and resistance, trendlines, supply and demand zones …
The signal: you will identify a price action signal such as a pin bar, inside bar, or an engulfing bar…
When you have all three of these simple elements in alignment, then you have the perfect trading opportunity.
Look at the chart example below to see how you can find high probability setups using the T.L.S.
As you can see, you don’t need a magic indicator to make a profitable trading decision. What you need is to find three important elements:
In the chart above, the trend is up. This means that you will look to buy in the market. the level is the support area, and the signal is an inside bar setup. One or two trades a week like this is quite enough to make a good monthly income.
The second concept that characterizes the Candlestick Trading Bibles is trading with confluence, which means that you will learn how to find confluent factors that support your trading decisions. This will help you take only high-probability setups in the market and ignore low-quality ones.
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The first factor is the downtrend, which is a powerful signal to sell the market. Don’t ever try to buy a market in a downtrend. Most successful traders say “the trend is your friend” and this is exactly what I teach in theCandlestick Trading Bible.
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The second factor is the level at which a support level becomes a resistance level. This area is the best place for you to wait for a price action signal to form.
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The third factor is the pin bar candlestick that forms after the retracement back to the resistance level. It indicates that the retracement phase is over, and that the beginning of an impulse move is going to happen.
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The fourth confluence factor is the 21-period simple moving average that acts as a dynamic resistance level and rejects the pin bar signal.
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The last factor of confluence is the 50% and 61% Fibonacci retracement levels. These Fibonacci levels are considered to be the most powerful levels in the market.
If you think in terms of confluence as I teach in myCandlestick Trading Bible, you will develop a winning trading mindset, and your brain will get used to identifying only high-probability setups that lead to big profits.
Look at the same chart below to see how many pips you can get just by applying these concepts:
What I share with you here represents just 1% of what you can learn from the Candlestick Trading Bible, which is considered to be the most powerful price action trading method in history. Remember that this method was used by Munehisa Homma, the god of markets in his day.
How the Candlestick Trading Bible Will Allow You to Overcome Fear and Trade with Emotional Control
According to statistics, 95% of traders lose money in the market. This is because our human psychology is not designed for trading. Our social conditioning teaches us that losing is not a good thing. We don’t like to lose, even when we are playing games. Our ego doesn’t accept losing and wants always to be right.
When we come to the trading environment, we try to act the same way we do in our social life. Let me give you an example. You make a trade. The market tells you that you are wrong. Your ego doesn’t accept that. When the market approaches your stop loss, you act immediately to change the placement, and you keep fighting the market till you wipe out your entire account. This is the reason why most traders lose money in the market.
The Candlestick trading Bible is based on a strict money management strategy that will allow you to trade in control of your emotions and join the 5% of successful traders. If you follow this money management strategy, you will never be a loser in the long run.
