So before diving into trading strategies. Knowing how the market operates is your foundation. Here are a few essential tips to guide you:
1. Wait for confirmation:
Always ensure the market confirms a breakout or trend before entering a trade. Patience is key.
2. Use wider stop losses:
Tight stop losses can easily be triggered by market fluctuations or manipulation. Give your trade some breathing room.
3. Avoid emotional trading:
Stick to your strategy and avoid making impulsive decisions during sudden price movements. Discipline is your best ally.
4. Monitor unusual volume:
Pay attention to volume spikes that don't align with price action, as they may indicate market manipulation.
5. Focus on higher timeframes:
Trading on higher timeframes helps minimize the noise and short-term volatility, allowing for more informed decisions.
Mastering these principles will set a strong foundation for your trading journey.
