ilmscore | Pro Traders Morning Routine (what you do b4 the trade matters most)

Predictions from this Video

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Incorrect: 0
Pending: 4
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Prediction
Topic
Status
A trading strategy can be simplified into 'conditions' and 'entry reasons'. The scanning process focuses on identifying markets that meet the predefined conditions.
"The scanning process just comes down to preemptively scanning the market for whatever your conditions are. Remember we have conditions and entry reasons that's all that come that's the simplest way to look at a strategy is conditions and entry reasons."
Trading Strategy Development
Pending
After all trading conditions for a strategy are met, the focus shifts to identifying the specific entry reason (e.g., candlestick pattern, indicator signal).
"Once you have all of your conditions met you look for your entry reason whether that's a candlestick pattern an indication made by an indicator whatever that may actually pattern whatever your entry reason is the scanning process comes down to your conditions."
Trading Strategy Development
Pending
A strong trading condition is the confluence of trend across multiple timeframes, such as an uptrend on both the daily and 4-hour charts, which can precede buying opportunities on lower timeframes.
"Multiple time frame confluence of trend that would be a great condition right having a uptrend on the daily and an uptrend on the 4-hour before you can look for buying opportunities down on lower timeframes to vice versa for a downtrend."
Trading Strategy Development
Pending
The speaker scans markets by checking for levels of structure (previous support that could become resistance) a few hours before trading starts.
"for me personally I come into the market a few hours early every day and I'll check for levels of structure that I want to pay attention to this is the way I scan the markets once I find to say this market right here we have a level of structure looking left that this markets coming up into that was the previous support that could turn into resistance."
Trading Strategy Development
Pending