How do you tell your trading setup is good to go

[WhoYouCantKill]

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.

It can be quite resourceful to have an experienced trader for a mentor, but that shouldn’t be a call for laziness or mean that one should be solely dependent on another person’s setups. What a mentor should do is teach you how to read the market, manage risks and how to control your emotions, but the ability to make decisions should be entirely you, a good trader is one who uses the knowledge he acquired to shape themselves and not to make themselves solely dependent on their teacher or mentor. After all, even a trader who’s experienced can also get their trades wrong and again every move a trader makes on the market should be based on their knowledge and should be influenced by their own judgement after evaluating their individual position.

[fredericktaylor]

Of course, there is no doubt that taking advice from an experienced trader about trading is a good decision, but if we continue to trade only based on other taught strategies, we will never be able to become a good trader, we will take advice from an experienced trader but in addition to this, we will have to research the market, gain specific knowledge and trade using strategies. Experienced and wise traders always say that while trading, a traders greed or emotional decisions are a big enemy than the market, due to which the trader can face big financial losses, so be aware of risk management and make better trading decisions.

[laijsica]

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.

To reach profitable setups in trading, I prefer to initially choose small buying strategies as I do for long-term investors. I build up my trading portfolio for a certain period of time. I observe the market and sell at the right time. I benefit greatly financially in this method because I do not have the expectation of getting a mandatory profit. I follow a slow process and use leverage at convenient times.

Trading strategies can be executed very effectively without having a target day or time. It is easier for me to make a profit without following a profit-taking policy like day or weekly traders. I arrange my trading plan considering that the market may suddenly fall.

[SDS11]

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.

Firstly, if you want to know if your trading set up is good. You need to go to the higher time frame to look for your directional bias that is to know if the market is up trend or down trend and then after this, go to the lower time frame to get your demand or your supply zone and also your high probability point of interest (POI).  However, after this you’ll wait for market to tap into your supply zone or your demand zone and you can decide to be aggressive in your execution or entry or  you wait patiently to see further or more confirmations ( your confluence) before execution.

[Olatundespo]

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.

Although everyone tries to reach that stage in trading, making a profit is the ultimate goal, but only a small number of traders can succeed here. No matter how good a strategy or setup a trader applies in fund management, when the market starts falling, their high expectations can be turned into dust. Although trading is a universal subject, wrong decisions in fund management can lead a trader to losses. Only experienced traders can make good decisions regarding perfect entry and exit, although they also make mistakes sometimes.

I agree with you that you said to check live market charts to identify a good strategy. I have given importance to this issue since the beginning of trading. But the market always bounces or sometimes bounces back or sometimes down trend. Always checking the price in trading was a boring experience in the initial stage of trading but gradually that habit has been eliminated but the strategy of increasing experience and increasing volume with it is a good habit for some traders but only if they keep the risk in mind they will be able to succeed.

[Futurexxx]

Firstly, if you want to know if your trading set up is good. You need to go to the higher time frame to look for your directional bias that is to know if the market is up trend or down trend and then after this, go to the lower time frame to get your demand or your supply zone and also your high probability point of interest (POI).  However, after this you’ll wait for market to tap into your supply zone or your demand zone and you can decide to be aggressive in your execution or entry or  you wait patiently to see further or more confirmations ( your confluence) before execution.

Their are several ways to analyze the price chart, but as I have said before, the moment you start taking fewer trades and start feeling more confident on your trade without showing emotional weakness, that means that your set up is good. Sometimes it may play out and some times it may not, but if you are more confident in your analysis and you stop reacting due to emotional pressure, you will surely be a profitable trader because you will win more trades than being on the losing side.

[Byebyebtc]

I personally trade based on liquidity concepts or SMC,

But my information of how I trade sadly would not help you on your trading journey, one thing I've learned throughout my trading journey is loyalty to a particular strategy.
 if you're support and resistance works well for you then I'll advise you stick to it and do not entertain any other strategy although if you have challenges trying to keep up with consistency using support and resistance then you can welcome another strategy that you will have to stick with and be loyal to.
Jumping from One strategy to another it's a road to unprofitability in trading.

[Nasdel4]

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.

Once I have a bias, I just wait for confirmation and then I execute.
I do this because I trust my strategy so I do not need to be scared. Once you have an edge, a working edge you’ll know exactly when and how to execute. Then most importantly you should pay attention to the risk, if this is what you're willing to lose.

[Dareo]

For me, the most important thing in trading is not to guess the market direction correctly, rather the most important thing is that before entering a trade, I make sure that how much loss I will bear if it happens to be wrong, meaning the risk factor always comes first. I consider both moving average and support resistance level but whatever comes from signals or any other source is never taken blindly. Also the exit point is set before hand if it goes opposite to what was expected initially, It may be early in my trading experience but I have realized that the market seldom does whatever we intend.

[Olatundespo]

For me, the most important thing in trading is not to guess the market direction correctly, rather the most important thing is that before entering a trade, I make sure that how much loss I will bear if it happens to be wrong, meaning the risk factor always comes first. I consider both moving average and support resistance level but whatever comes from signals or any other source is never taken blindly. Also the exit point is set before hand if it goes opposite to what was expected initially, It may be early in my trading experience but I have realized that the market seldom does whatever we intend.

It is not easy to predict the direction the market will go in advance but the way you plan can be the best strategy for a trader. You are planning in advance what to do if the market falls. It is wise to be prepared for the fact that the market can fall at any time and allocate an amount of money for trading that is risk-tolerant. In fact, taking a loss may not be the right assessment and you will have to stop selling when loss. Short term plans are often not easy to implement correctly. Long term planning and investments and buying and have high expectations at the end of the cycle. In short term trading, the risk factor has to be taken into account most of the time because the probability of the market rising may be relatively low. Or the selling point may not be as you expect.