Disclaimer: The views on the posts and charts are for educational and illustration purpose only, as past performance is not necessarily indicative of future performance. They are provided for general information only and therefore should not be taken as any offer or solicitation to do any investment or trade.
Note: Non-Members are strongly recommended to sign up for the online free course to have a better understanding of the setups as discussed below:
POEMS Mercury For Price Action Trading
As a price action trader, you’ll be spending a lot of your time looking at charts on your watchlist. So you want to make sure that you are looking at the right things to help you make better decisions. The platform that I use in my chart analysis is POEMS Mercury and would recommend it for active traders.
POEMS Mercury has more advanced features for charting and trading compared to POEMS 2.0. The first thing to do is to get rid of the cluttered charts and avoid information overload.
Chart Setups For One Good Trade
To help you see the same chart setups and signals that we discuss in One Good Trade, I have listed the steps to help you optimized your charts. I can assure you that as you spend more screen time looking at charts and know what you are looking for against a checklist before making a trade, you will get better over time to do your own fishing for the next One Good Trade.
Let get your gears ready! Download the Poems Mercury platform with the link below and read more on the features and FAQ.
After successful installation, U may login using the same ID and Password for POEMS.
Let’s start setting up your chart with the following steps:
1. Step One
i) Remove all the indicators that U may see in the Chartview until you have just the candlesticks as shown below.
ii) Check the chain icon circled in red at the top right corner of the ChartView. With this checked, Your are able to scan your charts in your PriceView watchlist easily by just clicking the next counter on the PriceView and the corresponding chart will appear on the ChartView.
2. Step Two
i) Click the icon shown below as Other Functions
ii) Click Color for the Color Setting Pop Up shown.
iii) Click New for a New theme 1
iv) Click Rename and U may change to a New name eg One Good Trade and Click OK.
3. Step Three
i) Change the Color Setting from the default to One Good Trade Black and White colors shown.
One Good Trade Setting
ii) Click OK and your chart should now like the one shown below. Well Done!
4. Step Four
The next time when you login again, the color setting may revert back to Ash Gray.
U can do the same steps in Step Two but now, U do not need to change it again but just need to retrieve your One Good Trade color setting to change the color theme.
Great! With the charts now ready, you can start practicing on your chart reading skill on your existing portfolio and your watch list. Start by drawing the Support and Resistance on your charts and ask whether there are trends for price action trading.
One Good Trade