How do you tell your trading setup is good to go

[Macabury]

We have lots of traders in the world and each of them have their setup. This setup helps them make trading decisions either to buy or sell.

For me I stick to support and resistance then I add 50 Moving average which still point me to support and resistance.

Why I prefer this method is because price will always find it's support and resistance zone no matter the direction of the market.

But I will love to hear your own setup which has been profitable to you so we can all learn and grow.

[Charles-Tim]

The only time you can know your trading strategies and plans generally is good is when you are able to make profits for weeks, months and up to or more than a year. If your profit is more, that means you are good in trading. The outcome of your trading is what you can use to evaluate how good you are in trading. It is not just about indicators.

[Futurexxx]

But I will love to hear your own setup which has been profitable to you so we can all learn and grow.

I will answer your question base on the title of this thread, which is; how do you tell your trading set-up is good to go.
The first step for you to know that your trading set-up is good to go is when you are confident enough to place a trade after doing all your analysis, set your take profit and stop loss, then go offline.
When you have gotten such level of confidence in your analysis, just know that you are almost there at the top.

Am saying this because since trading is more of an emotional game, if you are able to place a trade without blinking first to your emotions, their is a very high chances of you winning that trade if your analysis is right.

[Hatchy]

The only time you can know your trading strategies and plans generally is good is when you are able to make profits for weeks, months and up to or more than a year. If your profit is more, that means you are good in trading. The outcome of your trading is what you can use to evaluate how good you are in trading. It is not just about indicators.

Sometimes the strategy might be okay and good, but one might have not been able to fully understand how it works. Like I will always tell people, trading is a marathon, we learn everyday. Even with a good strategy, you still need to push forward and learn more from the market. Yes profitability is measured by how much tp you hit In your trades, the strategy also needs time to work as well as consistency in the market...

[Charles-Tim]

The first step for you to know that your trading set-up is good to go is when you are confident enough to place a trade after doing all your analysis, set your take profit and stop loss, then go offline.
When you have gotten such level of confidence in your analysis, just know that you are almost there at the top.

Trading is far more than this. And sometimes it requires monitoring. Not all traders set stop loss. Stop loss is good for high leverage trading but which is not recommended. Trading with low leverage and low amount of money is far better.

Yes profitability is measured by how much tp you hit In your trades,

Yes, in long term. Some traders can win for like a week and think they are good already but later lose money.

[Zaguru12]

For me I stick to support and resistance then I add 50 Moving average which still point me to support and resistance.

Why I prefer this method is because price will always find it's support and resistance zone no matter the direction of the market.

I have a lots of strategy that I trade like price action, smart money concept and the rest. I can use almost all the three strategies to actually get a confluence, for example my swing trader strategy is using a low leverage less than 10x and then use the SMC strategy which by looking for a good order block after studying the price action of the pair. There are many order blocks in a trade and not all order blocks are valid ones there are some that are simply breaker blocks after mitigations, so for me I combine mine with something like Fair value gap. This is because there is always liquidity left behind when the price moves and it definitely comes back to pick this liquidity

After all this my confluence then is gotten when the trade is at least 1:3RR as I don’t even like a 1:2RR trade, after that I set up my stop loss at a price that I know I can afford to lose. This my strategy saves me from unnecessary panic during trades due to liquidation fear

[EluguHcman]

The only time you can know your trading strategies and plans generally is good is when you are able to make profits for weeks, months and up to or more than a year. If your profit is more, that means you are good in trading. The outcome of your trading is what you can use to evaluate how good you are in trading. It is not just about indicators.

It is as simple as that.
It doesn't really matter of what trading strategies you are treading on  and perhaps you don't trade to satisfy your emotions but to make profits.

So if you can trace your trading lines and see it is not favourable then you should have to adapt to other strategies.
So I expect OP to talk about how he is being profiting with his trading with that his trading strategy or possibly seek for feasible strategy significant of him making profits.

However, individual trading strategies is as trying an error that if it works out good for you, then you stick to it but if it does not then hover round to other strategies.

[Futurexxx]

The first step for you to know that your trading set-up is good to go is when you are confident enough to place a trade after doing all your analysis, set your take profit and stop loss, then go offline.
When you have gotten such level of confidence in your analysis, just know that you are almost there at the top.

Trading is far more than this. And sometimes it requires monitoring. Not all traders set stop loss. Stop loss is good for high leverage trading but which is not recommended. Trading with low leverage and low amount of money is far better.

Monitoring of trade is mostly for those scalping lower timeframe like five minutes and fifteen minutes timeframe, but  above that, it is more better to do all the necessary technical and fundamental analysis, place your trade, set your stop loss and take profit, then wait for the possible outcome.

Then as for trading without using stop loss, that's what I don't do, no matter how low the leverage I use or confidence I have in the trade I took, because in the market anything can happen, a single terrible news can crash a market especially when trading alt or meme coin, so setting stop loss is a must to me.

[Charles-Tim]

Monitoring of trade is mostly for those scalping lower timeframe like five minutes and fifteen minutes timeframe, but  above that, it is more better to do all the necessary technical and fundamental analysis, place your trade, set your stop loss and take profit, then wait for the possible outcome.

Scalpers are truly the ones that will monitor the screen. I do not say the screen should be monitored all the time but there are sometimes that the you will have no option than to monitor your position. I am very certain about this. All traders do it. There are different types of traders but if you make profit in just some minutes, you will prefer to close the position even if you are a day trader. Even some scalpers will be tempted immediately and close the trade. There are different types of trading but a day trader are highly likely to scalp.

Then as for trading without using stop loss, that's what I don't do, no matter how low the leverage I use or confidence I have in the trade I took, because in the market anything can happen, a single terrible news can crash a market especially when trading alt or meme coin, so setting stop loss is a must to me.

Do what is best for you. Stop loss is good but also have disadvantages. What that matters is to have a good trading strategy that can make you profit.

[Dr.Bitcoin_Strange]

Having a trading set up means you have  learned a particular strategy so well and you frequently use it because you believe that the set up doesn't fail to go according to your prediction. In trading set ups, for some experienced traders, they normally have some confluence (maybe one or two, or more) that confirmed to them if they should take a trade or not.

Support and resistance is a good strategy, followed by smart money concept which is a good strategy, Supply & Demand which is also a good strategy and lastly is price action. The first strategy I learned was support and resistance, I used it to win many traders but it started failing me at some point. Currently, am using supply&demand combined with price action.

[Mpamaegbu]

For me I stick to support and resistance then I add 50 Moving average which still point me to support and resistance.

Why I prefer this method is because price will always find it's support and resistance zone no matter the direction of the market.

Every trader dey trade Support & Resistance. E nor matta whether dem call am Demand Zone or Supply Zone, or dem call am POI (Point of Interest) all of dem still fall around S&R because na around such area traders dey look for reversal or continuation. You talked about 50 MA, dat wan no go be problem if you still find other indicators wey go add up to d signal wey MA dey give for near perfect entry. For me, I nor dey use MAs again to pick my entries since I discover sey e dey rearrange itself; as in e dey repaint. I dey like use pivots and breakouts for my S&R because dem nor dey repaint.

But I will love to hear your own setup which has been profitable to you so we can all learn and grow.

I don answer dat wan join above.

[Dannyella]

We have lots of traders in the world and each of them have their setup. This setup helps them make trading decisions either to buy or sell.

For me I stick to support and resistance then I add 50 Moving average which still point me to support and resistance.

Why I prefer this method is because price will always find it's support and resistance zone no matter the direction of the market.

But I will love to hear your own setup which has been profitable to you so we can all learn and grow.

Honestly there is no setup that can guarantee profit all the time but I use the support resistance with price action,it  is a good start for someone learning more like a beginner.

It helps you understand the market well enough instead of hoping only on indicators.

The goal is not just to find a setup that wins all the time but finding a strategy you understand,testing it properly and improving in it.

A good setup is one you have tested,understand and can follow with discipline.

[OsaiEmma]

But I will love to hear your own setup which has been profitable to you so we can all learn and grow.

I will answer your question base on the title of this thread, which is; how do you tell your trading set-up is good to go.
The first step for you to know that your trading set-up is good to go is when you are confident enough to place a trade after doing all your analysis, set your take profit and stop loss, then go offline.
When you have gotten such level of confidence in your analysis, just know that you are almost there at the top.

Am saying this because since trading is more of an emotional game, if you are able to place a trade without blinking first to your emotions, their is a very high chances of you winning that trade if your analysis is right.

Nah....this is not true. Yes, emotions impact your overall trading habit, but confidence ≠ good trading setup. There are so many things involved in trading, and what can give you such level of confidence is experience. You can't use the same strategy to trade all setups, some needs constant monitoring, some don't. So...when you said a setup is good to go when you can place a trade and go offline—in other words, being confident—this is not exactly true.

I think, only experience can give you such level of confidence to tell if a setup is good to go.

[Futurexxx]

Every trader dey trade Support & Resistance. E nor matta whether dem call am Demand Zone or Supply Zone, or dem call am POI (Point of Interest) all of dem still fall around S&R because na around such area traders dey look for reversal or continuation. You talked about 50 MA, dat wan no go be problem if you still find other indicators wey go add up to d signal wey MA dey give for near perfect entry. For me, I nor dey use MAs again to pick my entries since I discover sey e dey rearrange itself; as in e dey repaint. I dey like use pivots and breakouts for my S&R because dem nor dey repaint.

Wetin you dy talk here na the Koko be that because most of this traders no know say support and resistance nai be still supply and demand zone, even though some of them dey strong pass some.

Personally I no dy use indicators trade because them dey mislead person easily, so because of say I don learn and understand candle stick and it sentiment finish, na that one I dy use trading than  indicators wey don make me lose better money for market so many times in the past.

[CryptopreneurBrainboss]

But I will love to hear your own setup which has been profitable to you so we can all learn and grow.

Just as others have said, a good strategy or set up can only bee known after it being tested and it gives you profits as that's the end goal of all trades (make profits). Irrespective of how good a strategy sounds or looks to you, If it isn't giving you profits then it isn't a good one and something about the market is that multiple traders can use the same strategy or set up for trading and be successful.

So a strategy that isn't good, is really isn't. Few scenarios are there for a particular strategy to be specifically good for you profiting but it replicable for others as isn't common because trading is universal and can be done with any good (proven) strategy.

Just because to tell a good strategy is you testing them on live market doesn't mean you should take all strategy that you see to start trading, ou can test it on demo markers first before going live to get real expeimce so to avoid much losses for the testing phases.

[WhoYouCantKill]

Asides the indicators itself, I believe a much more bigger advantage having some kind of rules or mechanism that helps one keep their emotions in check and out of the trade. Even if the set up is simple, it could still work if you know your way around the market, when to enter, the point where the set is invalidated and also when to take the loss. Again, another crucial factor everyone must always have is a proper management, because without it, even the most sophisticated strategy that works regular can still end up blowing an account.

[Nathrixxx]

You can't predict anything about your trading setup than to just have the mindset of taking risk despite all the necessary effort has been put in place to ensure maximum output, experience also matters in this regard, also in addition, being able to manage risk is as well needed when we want to have a maximum trading setup for a go, lot of things are to be considered as we don't have to be emotional trader that will only be influenced by the way of the market volatility when we are not even invinced about what the actual direction may be for the market.

[Spaceman1000$]

Asides the indicators itself, I believe a much more bigger advantage having some kind of rules or mechanism that helps one keep their emotions in check and out of the trade. Even if the set up is simple, it could still work if you know your way around the market, when to enter, the point where the set is invalidated and also when to take the loss. Again, another crucial factor everyone must always have is a proper management, because without it, even the most sophisticated strategy that works regular can still end up blowing an account.

I also feel there is need to have an experience trader as your mentor, someone who has been analysis the the support and resistance mechanism of the market for Long time coming, because just as a lot of persons have said, you can only know a good strategy if you've use it before and it worked out for you with your prediction, so a more experienced person will definitely give a near clear trading setup. Though in trading no one has an excellent mechanism, people only try patterns they've used before and it favored them, this is to say they know when to set a stop loss and take profit, they know when not to be too emotional, because emotional balance helps to keep your mental strength focused.

[Gost ms]

How successful the results are or how profitable we are in this will be the measure of our success. Just because a person is dependent on indicators and comes between support and resistance does not mean that a person is successful. We have to take trades and we have to see how successful we are with the trades. Many times it is seen that the market moves in the way we prepare but when we take the trades, the market does not move according to our expectations. So I think we have to consider how successful the trading has been for 6 months and decide how successful we have been.

[Jasmyne]

You can't predict anything about your trading setup than to just have the mindset of taking risk despite all the necessary effort has been put in place to ensure maximum output, experience also matters in this regard, also in addition, being able to manage risk is as well needed when we want to have a maximum trading setup for a go, lot of things are to be considered as we don't have to be emotional trader that will only be influenced by the way of the market volatility when we are not even invinced about what the actual direction may be for the market.

The set up and the strategies are the tools needed to help you trade effectively but despite all this you need to have the knowledge to be able to know when to trade and when to leave the market this is where experience and knowledge comes in. A trader with experience knows that trading with emotions will fuck him up so he can't expect to make profit if he puts emotions while trading, the plans will be to take risk, calculate every move and apply all the necessary strategies to buy and sell but when the market is not going well the best thing is to leave the market to prevent you from losing more. You only continue with a certain set-up if it makes you profit if it doesn't then you stop and try another one.