TIMESTAMPS
00:01 – INTRO
00:42 – UTILITY
A thorough understanding of your trading platform is crucial for effective trade management and seamless execution.
Traders utilizing Exocharts do not have built-in trading functionality.
As covered in Part 1, these traders can opt to execute trades using TradingView instead.
Trading via TradingView offers several advantages:
Simplified workflow: seamless and efficient trading experience within the same platform as one performs TA.
Real-time data integration: trading features are integrated with real-time market data.
Multiple brokerage integration: solid foundation of brokers (AMP, Forex.com, Interactive Brokers, etc.)
Advanced order types: TradingView supports most relevant Order Types, including market orders, limit orders, stop orders and conditional orders.
In summary, TradingView offers a one-stop solution for analysis and execution.
In TradingView, you can either use the Trading Panel on the right of your chart or undock it.
02:21 – IMPLEMENTATION
🔎 02:22 This is how the trading panel looks in TradingView, including an overview of the different components of the trading panel.
Unlike ATAS, TradingView does not support take-profit strategies, so each take-profit and stop-loss order has to be sent individually.
In the case a trade is executed without making use of the predefined TP and SL orders, one can manually manage these via drag and drop.
🔎 05:15 Visual representation of manual trade management via drag and drop.
🔎 05:49 All executed orders are listed in the “Orders” tab.
Your account summary is shown in the “Account History” tab. Here you can see your Daily P&L as well as Account Balance.
To understand the tick calculations, futures contract specifications and fee structure, it is highly recommended to watch the lesson on “ATAS & ES Know-How”.
07:06 – TIPS & TRICKS
★ Allow yourself time to get familiar with the characteristics of your trading platform.
★ It is recommended to practice using the Paper Trading demo feature.
★ Always double-check your Quantity, Trading Pair, and protection levels BEFORE trade execution.
★ A consistent trader should use a consistent take-profit and stop-loss, and therefore predefine these levels rather than using the drag and drop feature.
★ Your Account Summary should not replace your own trading journal, and should only be used to collect the correct entry and exit points.
07:56 – FINAL THOUGHTS