NO-ONE KNOWS exactly when to enter and exit a position.
Every trader needs to master three qualities for successful trading:
a strong individual psychology, money management skills (risk mgmt), and a logical trading strategy (a detailed set of rules used to enter and exit a position(if, then algos) There are thousands of different trading strategies. Find one that fits your trading style. The KEY is to follow it to a ‘t’ Play the probabilities and only enter if all paramaters of the strategy are met. This takes the emotion out of trading.
REMEMBER, NO professional trader, analyst, or hedge fund mgr knows FOR CERTAIN the future direction of a stocks price. They can definitely influence price with their massive capital, but NO ONE strategy or hedge fund has a 100% win ratio. Why?: The markets are a refection of us, emotionally unpredictable humans, buying selling, personally executing trades. A vast majority unautomted. Its an educated guess based on a slew of historical data and past price action. Once you realize this seemingly simple notion of macro market dynamics and begin to establish a DISCIPLINED, almost algorithmic trading strategy you will have an ‘edge’ over the market. Take emotion out and trade the numbers!
The market has a memory: Support levels are created by traders buying at a certain price in volume over a period of time, where resistance levels traders are selling at a certain price. These are very important price levels to be aware of. breaking these levels of support snd resistance triggers price action. Good luck to all!!
a strong individual psychology, money management skills (risk mgmt), and a logical trading strategy (a detailed set of rules used to enter and exit a position(if, then algos) There are thousands of different trading strategies. Find one that fits your trading style. The KEY is to follow it to a ‘t’ Play the probabilities and only enter if all paramaters of the strategy are met. This takes the emotion out of trading.
REMEMBER, NO professional trader, analyst, or hedge fund mgr knows FOR CERTAIN the future direction of a stocks price. They can definitely influence price with their massive capital, but NO ONE strategy or hedge fund has a 100% win ratio. Why?: The markets are a refection of us, emotionally unpredictable humans, buying selling, personally executing trades. A vast majority unautomted. Its an educated guess based on a slew of historical data and past price action. Once you realize this seemingly simple notion of macro market dynamics and begin to establish a DISCIPLINED, almost algorithmic trading strategy you will have an ‘edge’ over the market. Take emotion out and trade the numbers!
The market has a memory: Support levels are created by traders buying at a certain price in volume over a period of time, where resistance levels traders are selling at a certain price. These are very important price levels to be aware of. breaking these levels of support snd resistance triggers price action. Good luck to all!!
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10+ yr trader: intraday, swings, option plays, frequent alerts🔹
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