good to know information for new traders

Discussion in 'Technical Analysis' started by mute9003, Sep 11, 2021.

  1. KCalhoun

    KCalhoun

    Good to see so many smart responses here at et
     
    #21     Sep 12, 2021
    murray t turtle likes this.
  2. Bad_Badness

    Bad_Badness

    Consolidation days are well tradable for smaller p/l. So I trade them also. It is more the price action that is happening at the moment that concerns me. Just use the right setup and tactics for that price action.

    Ideally you can see the different players actions. The big players, medium players, the Godzilla. That allows you to stay more in tune with the action. Best to go with the flow....
     
    #22     Sep 12, 2021
    KCalhoun likes this.
  3. KCalhoun

    KCalhoun

    Breakouts over resistance or pivots off support are good, but avoid trading inside range chop
     
    #23     Sep 14, 2021
    murray t turtle likes this.
  4. Speaking about Forex Trading
    The things you mentioned as "generic stuff", once you meet that you're 80% up
    20% Trade plan
    10% Risk management

    • There is no holy grail in trading style, pick one style and master the hell out of it
    • Narrow down focus to few pairs and not have 20-30 pairs on your watchlist
    • Decide if you want to swing/intraday or scalp (not like you tryna scalp and a trade goes in red, then suddenly you decide to be swing trader haha)

    Technical aspects depends on what style and method you trade
    lastly,
    Trade what you see, not what you think.
     
    #24     Sep 14, 2021
  5. %%
    Good points;
    Jack Schwager Top Trading Books Help. Mostly trade with trend. IF you make frequent changes to plan, never had much of a plan.................................................................
     
    #25     Sep 14, 2021
  6. How does the appointment generation work? For some businesses with Belkins', it can be very time-consuming and expensive to employ an outside marketing firm to provide them with business email leads and appointment triggers that will get their message out to potential customers and clients. Because not everyone uses the same methods, businesses need to consider what marketing tactics will work best for their particular business.
     
    #26     Sep 15, 2021
    murray t turtle likes this.
  7. Best bits of information I could give might be:
    • Specialize - find one technique or setup and focus on that exclusively until you become an expert
    • Wait for price to move in your direction before jumping in. Check shorter timeframes for confirmation
    • Pick your loss exit point before you trade and always honor it. No averaging down!

    These are not terribly technical, but there's not much to say technically without knowing what method/setup/pattern a trader is targeting. Also, though it may not be interesting to you, the "mindset" stuff is by far the most important and impactful part of trading. New traders seldom want to hear or accept the truth, though...
     
    #27     Oct 8, 2021
    murray t turtle likes this.
  8. %%
    I MUCH prefer stuff trending past previous days range with confirming increasing volume.
    But planned+ careful attempts @ average 50dma volume can be just as good.
    TZA has clearly broke down below 50 dma price;
    TQQQ, SPXL, UPRO are nicely aboVe 50dm price.
    I laughed the first time i read IBD founder's warning ''new traders expect to much with to little work'' LOL But it's still a good warning.:D:D:D:D:D:D,:caution::caution::caution:
     
    #28     Oct 25, 2021
    KCalhoun likes this.
  9. twstn

    twstn

    I would start by following trading signals and try to analyze why the signals did what it did and play off or trade off of it. And eventually be able to make your personal trading rules to trade by!
     
    #29     Nov 2, 2021
    mute9003 likes this.