Price action is the price movement of a security that is plotted over time. Price action forms the basis for all technical analysis of a stock, commodity or other asset chart. Many short-term traders rely exclusively on price action and formations and trends are extrapolated from it to make trading decisions. Technical analysis as a practice is a derivative of price action because it uses previous prices in calculations which can then be used to inform trade decisions.
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How To Trade
Execute your trades in 3 Easy Steps!
Step 1: Trade Setup
- Entry Buy in Signal Arrow Divergance color DarkBlue.
- Entry Sell in Signal Arrow Divergance color Maroon.
- Success Rate ≥ 75% 100:25
Step 2: Set Stop Loss
- Stop loss BUY —-> You can set stop loss on line Fibonacci level 0.00, 23.6.
- Stop loss SELL —-> You can set stop loss on line Fibonacci level 0.00, 23.6.
Step 3: Set Take Profit
- Take profit BUY on line Fibonacci level 38.2 or 50.0.
- Take profit SELL on line Fibonacci level 38.2 or 50.0.
If you are looking for ways to do daily trading to make a living, one important component is how you manage risk. As Larry Hite rightly stated, “Throughout my financial career, I have witnessed examples of other people I know who have been marred by failure to appreciate risk. If you don’t take the risk carefully, it will take you. ”
You need a system that ensures you have enough to move, while maintaining enough capital so that you don’t have to go back to your daily work.
A good system revolves around stop-loss and take-profit. This allows you to plan ahead and prevent high emotions from taking control of the decision.
Stop-loss – This is only the price at which you will sell shares and take a loss. This will erase your survival in hopes that it will return.
Take-profit – This is the point where you will sell shares and take profits. This will help you maintain that profit, by allowing you to sell before the consolidation period.
If you trade to make a living, consistent and stable profit is the goal, which will require a consistent disciplined mind. As Victor Sperandeo emphasized, “The key to success is emotional discipline. If intelligence is the key, there will be more people making money from trade. ”
This might sound right now, but when you get $ 2,500 on the phone and you have been staring intently at the screen for the past six hours, keeping fear is not easy. An effective way to limit your emotional responsibility is to use as much technical assistance as possible.
Keeping your emotions under control will require practice, many mistakes and even more mistakes. However, a neat trick that helps many traders is to focus on trading, not money. Take from experienced trader Alexander Elder, “The aim of a successful trader is to make the best trade. Money number two. ”
The number of human trafficking days to make a living since 2014 has increased. Is this realistic? The answer is, it entirely depends on your ambition and commitment. It will not be easy. But, if it suits your work style, you choose the right market and you use the tips mentioned, then you can be one of the few who win.