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Maurice Kenny's Key Lessons | Important Lessons from Maurice Kenny
Two sides of the coin face each other when we discuss trading markets: inherent complexity versus seeking simplicity. It is more true about cryptocurrencies. For the second option, traders can find a guide in Maurice Kenny, who stands for simplicity as a key to successful intraday trading. By relying on supply and demand, he developed the "keep it super simple method," from which this article will reveal relevant lessons.
Supply And Demand: Traders' Bread And Butter
Maurice Kenny employs a straightforward strategy based only on supply and demand zones. Of course, he may consider other aspects regarding entry and exit points and execution, but the core of his teachings and trading framework grounds on that notion.
He specifically refers to this idea as the KISS method (keep it super simple). This method allows him to seek a day trading approach that dispenses with indicators or other technical concepts, including fundamental factors.
However, price action concepts also play a role in that method but under his personalized vision. In this sense, Maurice Kenny acknowledges the function of candles and patterns as a medium to read the market and birth out the charts traders analyze. Although beyond price action, he prioritizes the support and resistance zones where candles cluster, offering clues on what could happen next.
Based on how the market behaves in those support and resistance zones and what candle formations suggest through the body length, wicks, direction, color, speed forming, and patterns, Maurice Kenny tries to unveil where and how market makers position themself to follow their moves.
Keep It Simple: Let The Trade Setups Come
Relying on his KISS method, Maurice Kenny speaks loudly on simplicity but does not neglect the complexity behind the market and the potential pitfalls traders could pass through to identify supply and demand zones correctly, what to expect following the zones identification, and how to behave while the price reach to there and once it is there.
The effectiveness he promotes via the KISS method is not a mere thing of spotting zones but something more complex works behind curtains: following the path of hedge funds. After all, those zones he stands for are levels where the market expects the more significant price action.
By leveraging those levels, traders can understand why to keep it simple is to let the trades come. Achieving that simplicity requires crucial steps that Maurice Kenny encloses into three principles such as follows:
- Setting Alerts: It implies getting away from the screen after identifying potential zones for price bounces. By setting alerts, traders must wait for the price to move in those zones.
- Maintaining Discipline: If traders use alerts, they should not trade anything else. It means that even if the market follows a path between the alert zone and the current price, traders should not chase, for example, a reversal trade.
- Staying Consistent: While setting alerts and maintaining discipline, traders must be patient. Sticking to these three behaviors assures consistency in executions.
By keeping it simple and letting the trade setups come, traders automatically strive for another lesson: trading like a sniper.
Trading Like A Sniper
Once a trader achieves the necessary discipline and consistency proposed by Maurice Kenny by leveraging supply and demand zones just by waiting for an alert call in the trading terminal, the trader can execute entries and exits automatically.
This mindset provides benefits at the moment of execution, such as an emotionless behavior:
- Traders do not need to chase the price anymore.
- They now follow a determined price action around a specific zone with a defined stop-loss and profit target.
- Hedge fund participants will help drive the market into a sustained move. At least in theory, that is what Maurice Kenny teaches.
The "trading like a sniper" idea is, essentially, the vertebral column supporting the KISS method, not only as a mere strategy but now as a whole system, where the operator directly takes action in the market and needs to undergo decision-making processes, assuring proper risk management by accepting a loss and handling the position towards the profit target by eliminating emotions in the execution.
Accept The Loss And Eliminate Emotions
How to lose money? Maurice Kenny emphasizes the importance of accepting the chances of losing. The idea here is not to avoid a loss but to learn to take it instead. This concept is paramount to proper management and has all to do with all the points previously discussed.
Building discipline and consistency through alerts leads traders to systematic trading by trading like a sniper, and consequently, traders will find themself in a live position. This position will generate emotions that traders have to manage. Otherwise, that emotional stress can push them into an overtrading behavior that may end with a blown account.
Reconciling with the loss is crucial. To achieve such reconciliation, traders also need to manage emotions until they eliminate them, and there is a remarkable mindset that will help traders achieve this goal: getting rid of the pure short-term consequences by focusing on long-term results.
Pursue The Big Picture: Long-Term Vs. Short-Term Mindset
Primarily, Maurice Kenny's lessons focus on a day-trading approach. However, traders can implement the KISS method in long-term approaches. Maurice himself acknowledges the swing trading benefits.
When he talks about getting away from the screen, for traders, it implies recognizing that they can not force opportunities. Also, what a profitable trade generates in one day may be lost in another; similarly, a winning trade in one day could also satisfy an all-week profit goal.
By pursuing the big picture, traders dispense with short-term results while striving for long-term survival. This picture will guarantee, at least, to stay in the game longer, enabling traders to seize better setups at lower risks while keeping a peaceful mindset.
Conclusion
Maurice Kenny proposes a method that, by leveraging supply and demand and hedge fund participation, traders just have to keep a simple system that lets the setups arise to trade them like a sniper, assuring consistency through setting alerts and disciplined behavior, which ultimately would help traders staying in the trading game longer once they emotionlessly accept the risks of losing as a step towards proper management.
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