How To Determine The Market Trend | Trading Rules Part 1

[@RichardMoglen]

Here is the link to the chart showing the GMI performance: wishingwealthblog.com/2019/04/gmi-signals-applied-to-qqq-january-2016-april-18-2019/ and see here for more info on Dr Wish's style www.aaiidcmetro.com/slides/(2016-02-20)wish.pdf

[@RichardMoglen]

@@paulgalli4706 No problem! It's all thanks to Dr. Wish

[@vivekdandare]

I love how much value is this video presented in a concise way.

[@rahulchahal3824]

You are a excellent educator at a young age. You’ll do well in the years to come. For me trend is - price, 8ema, 17ema & 50sma aligned and lined in sequence in the same direction. Also, major indices - S&P, QQQ, IWM in alignment and also watch the VIX. So I’m mostly in cash with quick trades.

[@RichardMoglen]

Thank you Rahul! I always appreciate your comments. I like your mindset!

[@chapgolf]

Richard, I appreciate you sharing your plan. Looking forward to the next installment.

[@RichardMoglen]

No problem Scott, I'm enjoying making this series.

[@txmikey45]

HI. I found this Channel on Reddit. Thanks for taking the time to help others!! I'm new to trading and trying to learn swing trading..

[@RichardMoglen]

Welcome to the channel Michael! I focus on swing/position trading so I hope you find my videos useful. Are there any specific topics that you would like me to cover?

[@michaeldompierre5406]

Just saw this now Richard, great stuff. Thanks for sharing

[@RichardMoglen]

Glad you enjoyed it Michael!

[@Enwivo]

Thank you Richard! Can’t wait for the next part - sharing with my reading buddies now :) Wanted to ask what is your timeframe for trading short term swings (5-14days) longer term (1m+)?

[@kamisrini]

Great video, thanks for sharing. To find Big Picture is up or down, do we need IBD paid subscription?

[@RichardMoglen]

Hey Srini, yes you would need an IBD digital Subscription

[@qamarfamily4102]

Great job and looking forward to get educated

[@RichardMoglen]

Awesome thanks!

[@P01291]

Hi Richard have your rules changed in the last 2 years? I am deep diving into lots of top traders approaches at the moment to get my own rules down. Thank you!

[@qamarfamily4102]

great video Richard

[@RichardMoglen]

Glad you enjoyed it!

[@zac2886]

Hey Richard, Really looking forward to this series. Not to copy and paste for myself but just for entertainment. I have trading view and all my space on it for the free version is clogged up. I really think the Red white Blue pattern for the market is superb. Is there anyway I can look at the GMMA pattern daily for myself? I plan to invest long term in the QQQ/SPY for 60% of my portfolio then the remaining 40% for swing trades using breakout/holds for short term investing.

[@RichardMoglen]

I'm looking forward to this series too! You can get around the limit by using pinescript. I have the code for a gmma chart linked here: docs.google.com/document/d/1NaOd82MjCn9O9qvP3lUp3m5R8hVDLGv9dtIa09RdNLA/edit Change the time period of the emas if you wish. Take care!

[@jmiller2348]

Richard, really enjoy your channel. I've been doing my own manual version of Dr Wish's rules modified a little because I dont use TC2000 and don't subscribe to IBD. According to my GMI we went Green on 4/15. I'm trying to develop my own simple plan to trade QQQ or TQQQ long when we go Green but I really like your idea of following the RWB pattern and I will perhaps adapt to start SMALL when we get a QQQ close above all Daily GMMA red emas. Looks like I would have gotten shaken out a few times. question on that - what kind of stop would you have placed if you had taken that first QQQ close above all daily GMMA red emas? Looks like it would have been March 26th? Thanks again - looking forward to your next video!

[@RichardMoglen]

Thank you for the kind words! I would have handled the QQQ like any other stock/etf trade. At that point risk was high so a smaller than usual position but probably my usual 3.5-4% stop. I would then have added onto the position as it moved up and started to work. Good questions!

[@gordonisbell2308]

I noted you used two different rwb charts, the first one clearly shows the red is going up, but, still falling short of the the blue. A second chart shows the red clearly above the blue. Did I miss something, and, did you infer it’s ok to invest regardless of the rwb, if IBD says market in confirmed uptrend, it’s ok to buy? Thank you. I really enjoy your channel.

[@myl0rd3]

Gordon Isbell yup. If u see for uptrend longs, it can meet any criteria and not all.

[@RichardMoglen]

Good questions Gordon. My rules use the QQQ RWB chart. I had the tqqq up at first because I was looking at it before the video. Yes my rules say any of the uptrend rules can be true and I can invest, I don’t need them to be all true. Thanks!

[@RichardMoglen]

Exactly 👌🏻

[@_VlCTOR_]

Where are the next video in this series?

[@johnf7317]

Waiting for Part 2

[@RichardMoglen]

Hi John I've made two more videos in this series. If you subscribe and hit the notifications bell you will be notified when I post another: kzbin.info/aero/PLPfme2mwsQ1EX_RfhOZUz9cSTQ6gvHUiE

[@johnf7317]

Thank you so much for your reply. I had subscribed your channel and now have hit bell icon. Am also following you on Twitter. Your work is very helpful.

[@myl0rd3]

Is this strategy only for QQQ ticker?

[@RichardMoglen]

I use the GMMA to determine the direction of the market, but you can use it to determine the trend of any stock.

[@myl0rd3]

Richard Moglen I see, so this indicators are for determining the general trend of the entire market? Except for GMMA which can be used for individual stocks

[@RichardMoglen]

How do you guys determine the market trend?

[@matiaspousi3021]

By drawing trend lines and channels

[@RichardMoglen]

I agree on individual stocks, but you don’t enter if the market is below its 200 day?

[@RichardMoglen]

Definitely a solid way to go, I like moving averages because it’s a bit more objective ( and I’m kind of bad at using trend lines)

[@sri19]

WSB discord 🤷🏻‍♂️

[@RichardMoglen]

lol

[@melrose2853]

u r just superb.

[@RichardMoglen]

Thanks Mel!!

[@beni5433]

Do we have to pay for those sites 🤔

[@RichardMoglen]

Good question, the wishing wealth blog is free, IBD requires a subscription. Included tho is a whole lot of learning material and content. I have an overview video of it: kzbin.info/www/bejne/in_WpoeQmMuUeLM