Selby Margin Trading Rules 1.0
1. Read these rules everyday without exception. Only begin margin trading after 30 minutes of reviewing all instruments and timeframes.
2. Charting: Midterm forecasting (months) charts built in 9,12hr and 1day. - Margin forecast charts built in 11,33min. using data from Heikin Ashi candle wicks. - Margin trade on 1min. follow the 3,6min. (use 2,3,4,5,6,9,11,15min. for in/out).
3. 3% RULE: Always close negative positions. Look for a retrace opportunity to exit but if trade falls below -3% for more then 30min set a stop loss limit order. This is the most important rule to prevent loss of time and a potential liquidation.
4. Enter limit order long/short and then set limit exit to take profit (TP) at the next short term Fibonacci level. Moving averages in higher timeframes 21,29,33,42,48,52,96min the 1-6,9,16hr and 1day will confirm market direction for successful trade.
5. "THINGS TO AVOID" Greed - Bragging - FOMO
6. "60/40 Split" to maximize margin profit, stay in fiat while awaiting confirmation of market direction (do not trade reversal chop washes; the 6,11min. must show a clear direction). Work as long as you like if you are in rhythm, but remember not every day is a trading day.
7. Think and chart 3-steps ahead, do not rush yourself into a position. Wait 11min at a minimum between entry/exit. Stay alert (Matcha tea) do not fall asleep. No trades 48hrs after (alcohol or drug use). "3-Strikes" If you have three bad trades during the workday stop for 24hrs.
8. (TP) TAKE PROFIT: Cash-out at the end of the day and pull 10% of daily net gains out of cyberspace. Always sleep in fiat (stable coin) without exception.
Selby finding creative patterns in charts on Tradingview
Not advice for investing, but I am one to watch
Rebellion=Change=Future