How to Find the Perfect Trading Setup

If you are a beginner trader, finding the perfect trading setup can be very difficult. This is the case whether you are a forex trader, crypto currency trader, stock markets trader, or anything in between. Of course, being able to find the perfect trading setup is crucial to your overall success.

If you don’t have a good setup, then nothing is going to go your way. You need to know what charts are the best ones to use, specifically in terms of timeframes. You also need to know what the best trading indicators are for your specific type of trading.

Moreover, knowing which assets and asset types are best traded with at a given time is also crucial to your success. That said, we do want to help make your life as easy as possible when it comes to trading. Of course, our main goal is to help you make profits.

What we want to do today is to take a closer look at how to find a perfect trading setup by simply looking at your charts. Let’s get to it and help you set up your trades so you can profit off of them as much as humanly possible.

Finding the Right Trading Setup

When it comes to finding the right trading setup, you are looking for a setup where you can determine where the price is breaking out from some sort of key level. One of the most ideal examples of finding a good trading setup is by looking for a triangle trading pattern.

With a triangle trading pattern, we are looking to create a triangle using up trending or down trending charts. Once we have created these triangles or corridors, we can then place trades and make profits. The cool thing here is that a simple trading setup like this is really all you need.

Remember that trading is all about quality, not quantity. If you find a good trading setup, you will be profitable. You really don’t want to place too many trades. The reason for this is because the more trades you place, the riskier things get. Placing one trade per day that can create several thousand dollars of profits at once is always best.

The Best Timeframe

One of the most important things to finding the perfect trading setup is looking at the right timeframe. First off, you always want to start this process by looking at the longer timeframes. This is best done by looking at one day and four hour timeframes.

Remember that the shorter timeframes are best just for finding entry points. Here, you are trying to create support and resistance wedge style corridors.

Whenever the price breaks out of the triangle, this is where you will find the best trades. What you need to have here are two lines, the support line and the resistance line. You will then use those levels as your support and resistance. What you have now is called the perfect trading setup.

The Support and Resistance

Next, you need to know how to trade here. So, if you trade using the resistance line, what you want to do is to place your trade when the price breaks the resistance line, and your take profit is going to be the previous swing high level. Keep in mind that this is a buy trade.

On that note, if the price breaks the support level, then you are going to want to place a sell trade. Here, you take profit is going to be at the previous swing low. However, remember that you don’t want to spend all day sitting at your computer waiting for breakouts.

For this reason, what you should do is to set up alerts so you will be alerted when the price breaks through these support and resistance level. This way, you don’t have to sit in front of your computer all day waiting for those breakouts to occur.

For instance, the price broke the resistance zone, you place a buy trade, and now you are making money. Now, what you want to do is to place a second resistance line up top. This resistance line is going to be at the next swing high level.

This will then allow you to place a second trade. The resistance was broken, so it becomes the new support line. Therefore, the first support and resistance zone is the first corridor, and the second support and resistance zone is the second corridor. Both of these allow you to place profitable trades.

Using Awesome Trading Tools to Find Trading Setups

In case you are a newbie who does not know what you are doing, there are some awesome trading tools at your disposal. Of course, what we are talking about here are indicators. However, we are talking about one specific indicator here. This is known as the UPSI or Ultimate Profit Scalping Indicator. This is at this time one of the best indicators out there as far as profit scalping is concerned.

Remember that profit scalping is all about placing very short term trades that result in daily profits. The defining feature here is that trades are only open for a day or less. Therefore, if you want to make consistent profits on a daily basis, using the Ultimate Profit Scalping Indicator is recommended. This is a really cool indicator that you can attach to any chart on tradingview.com.

You can use any time frame you see fit, although the shorter time frames are best. Moreover, this particular indicator also works with any and all types of trading assets or markets out there. It is technically designed for stock market trading, but you can also use it for Forex, cryptocurrencies, commodities, and everything in between.

All you have to do is to wait for the Ultimate Profit Scalping Indicator to provide you with profitable buy or sell signals. Once you see the buy or sell signals appear, you can then place the trades on your broker or trading platform of choice. Making money has never been as easy as with an awesome tool such as the Ultimate Profit Scalping Indicator.

CLICK ON IMAGE TO GET THE ULTIMATE PROFIT SCALPING INDICATOR

Finding the Best Trading Setup – The Bottom Line

If you follow all of the tips that we have provided you with here today, finding the best trading setup for you should not be an issue. Keep in mind that getting a good trading education will definitely help too.

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